Friday, Jun 21 2024 | Time 23:39 Hrs(IST)
Business Economy

SJVNL shares register 225 pc growth in three years

Shimla, Oct 1 (UNI) The Public Sector company Satluj Jal Vidhut Nigam Limited’s market capitalisation has gone up to Rs 28750 crores with its share value growing by 225 percent in the last three years.

The public listed mini blue chip company commissioned its first hydropower project in Himachal Pradesh in 2002, its Chief Managing Director Nand Lal Sharma told media persons on Saturday. As of now, its market capitalisation is Rs 28750 crores.

The firm was listed on the National Stock Exchange 13 years ago and its share value has increased by 225 percent in the last three years. The public equity in the company is around 18 percent and 50 percent profit was provided to the shareholders every year. Over the past quarter of a century, the company has paid dividends of over Rs 9000 crore to its shareholders.

It has total assets of around Rs 23000 crore, of which the Central government’s investment is around Rs 6600 Crore, that of the Himachal Pradesh Government Rs 1055 Crore and public investment in the form of equity shares is Rs 2541 Crore.

He said the firm would provide a direct dividend of around Rs 980 Crore this fiscal.

Revealing the astronomical leap in capitalisation and capital expenditure of SJNL, Sharma said the value of a share of SJVNL was Rs 32.56 on April 1, 2020. Now the price is Rs 73 per share, which shows a 225 percent growth in three years.

He said the Union government has devalued its equity in SJVNL from 75 pc to 55 pc as it disinvested its 4.9 percent equity. Now public equity in the company has increased from ten percent to 18 percent. The equity of Himachal Pradesh has remained at 26.8 percent.

Sharma said the company’s capital expenditure (Capex) was only around Rs 400 Cr in 2014, but since then it has soared to Rs 8340 crores per annum. Now the firm has targeted a Capex of up to Rs 10,000 crores per annum. The Public Sector firm which is earning profit from its revenue and power generations also decided to make an average investment of Rs 200000 crores.

. He said the firm is working on a number of new power projects and till 2025 would make a total investment of Rs 2.55 lakh crores.

The firm is providing direct employment to 2000 people and indirect or associate employment to 25000 people.

He said that recent rainfall caused negligible losses to SJVNL

SJVNL has a total installed capacity of 5000 MW from both hydro and fossil power plants till the end of 2023. The Plant Achievement Factor (PAF) is above 106 percent and as against the designed energy of 8705.88 million units the company generated about 9335.163 mu pre annum.
More News

Stock limit imposed on Tur, Chana to check hoarding & prices

21 Jun 2024 | 8:18 PM

New Delhi, June 21 (UNI) The government Friday issued an order imposing stock limits till September 30 this year on specific pulses applicable to wholesalers, retailers, big chain retailers, millers and importers to prevent hoarding and check prices of essential commodities.

see more..

N Sitharaman holds pre-Budget consultation with agri experts, MSMEs

21 Jun 2024 | 7:12 PM

New Delhi, June 21 (UNI) As part of pre-Budget consultation with stakeholders, Union Finance Minister Nirmala Sitharaman held meetings on Friday with representatives from farmer associations and agriculture economists.

see more..

HZL & AEsir Technologies join hands for developing Zinc batteries

21 Jun 2024 | 7:07 PM

New Delhi, June 21 (UNI) Hindustan Zinc Ltd (HZL) on Friday said that it has signed an MoU (memorandum of understanding) with US-based AEsir Technologies for developing Zinc batteries.

see more..

ONGC and Indian Oil sign pact to set up LNG plant

21 Jun 2024 | 7:00 PM

New Delhi, June 21 (UNI) State-owned energy majors Oil and Natural Gas Corporation (ONGC) and IndianOil Corporation Limited (IOCL) have signed a memorandum of understanding (MoU) to establish a small-scale Liquefied Natural Gas (LNG) plant near the Hatta Gas Field in the Vindhyan Basin.

see more..

Centre assures states & farmers to procure pulses (Tur, Urad & Masur) at MSP

21 Jun 2024 | 6:31 PM

New Delhi, June 21 (UNI) Centre on Friday assured the states and farming community to procure pulses – Tur, Urad and Masur, at Minimum Support Prices (MSP) to ensure crop diversification and achieve self-sufficiency in pulse production.

see more..