SJVN Ltd Q4 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Published 24 May 2026 | Power | Market Cap: ₹27.2K Cr
SJVN plans capacity additions with commissioning of 2,284 MW in FY '27, 650 MW in FY '28, and about 2,500 MW from FY '29 to '30. FY '26 PAT was INR 1,008 crores, a 4% increase from FY '25, despite challenges.
From SJVN Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Price
₹66.1
Market Cap
₹27.2K Cr
P/E Ratio
42.5
Revenue Rank
Margin Rank
How does SJVN Ltd rank in Power?
Compare SJVN Ltd against every Power company this quarter on revenue, margins and earnings-call signals.
SJVN Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.5K Cr, net profit ₹-118 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 3- →SJVN plans capacity additions with commissioning of 2,284 MW in FY '27, 650 MW in FY '28, and about 2,500 MW from FY '29 to '30.
- →FY '26 revenue increased by 22% YoY to INR 3,545 crores, driven by tariff order recognition.
- →SGEL expects improved profitability in FY '27 as new solar plants ramp up to full capacity.
- →Buxar Thermal expected to move to profitability as PLF exceeds 70% in FY '27.
- →Renewable Energy Implementing Agency awarded 16 GW of projects, with signed PSA of 6 GW; balance PPAs pending.
- →Renewable tendering shows slower conversion due to DISCOMs’ adequacy plans and changing configurations; however, demand for renewable power with hybrid/storage solutions remains.
- →Total generation in FY '26 was 13,302 million units, a 25% increase from previous year.
- →Future growth targets (25,000 MW by 2030, 50,000 MW by 2040) are under review with a new business plan forthcoming.
📈 Profitability & Margins
Rank 3- →FY '26 PAT was INR 1,008 crores, a 4% increase from FY '25, despite challenges.
- →Losses in subsidiaries SGEL and Buxar Thermal due to initial operations and lower PLF are expected to improve.
- →Buxar Thermal plant projected to turn profitable in FY '27 as PLF surpasses 70%.
- →Significant capacity additions planned: 2,284 MW in FY '27, 650 MW in FY '28, and 2,500 MW during FY '29-30.
- →Focus on solar capacity expansion in near-term, with hydro projects commissioning from FY '29 onwards.
- →Ongoing progress in Nepal hydro project aiming for commissioning by December 2028, adding to future earnings.
- →Tariff and operational efficiencies expected to stabilize, with new business plan and realistic growth targets forthcoming.
- →Curtailment issues being addressed (e.g., SVR at Bikaner) to ensure full capacity utilization.
- →Overall, earnings and profits are expected to improve substantially from FY '27 onwards with capacity ramp-up and project stabilization.
🏗️ Capital Expenditure Plans
Yes- →FY '26 CAPEX plan: INR 9,400 crores
- →FY '27 CAPEX plan: INR 7,800 crores
- →FY '28 CAPEX plan: INR 7,500 crores
- →Total under construction portfolio includes:
- → - Four hydro projects (1,561.5 MW)
- → - Second unit of Buxar Thermal Power Plant (660 MW)
- → - Ten solar projects (1,705 MW)
- →Focus on commissioning:
- → - 2,284 MW in FY '27
- → - 650 MW in FY '28
- → - Around 2,500 MW between FY '29 to FY '30
- →Continued expansion in renewables:
- → - Awarded 16 GW renewable energy projects across solar, wind, hybrid, and storage
- → - Acting as Renewable Energy Implementing Agency
- →New business plan under review to set realistic targets beyond earlier ambitious visions of 25,000 MW by 2030 and 50,000 MW by 2040.
💰 Fundraising & Capital Structure
Yes- →The transcript does not explicitly mention any current or planned fundraising through equity.
- →Regarding CAPEX, SJVN has a significant capital expenditure plan: around INR 9,400 crores for FY '27, INR 7,800 crores for FY '28, and INR 7,500 crores for FY '29.
- →While discussing expansion and CAPEX funding, the management acknowledged the large CAPEX but did not specify the mode of funding (debt or equity).
- →There's no direct statement about new debt or equity issuance in the provided pages, indicating no announced fundraising yet.
- →The company is reviewing business plans and growth targets, which may lead to announcements on funding in the future.
📋 Order Book & Pipeline
NoKey Metrics
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Capex
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Frequently Asked Questions
What were SJVN Ltd Q4 FY26 results?
SJVN plans capacity additions with commissioning of 2,284 MW in FY '27, 650 MW in FY '28, and about 2,500 MW from FY '29 to '30. FY '26 PAT was INR 1,008 crores, a 4% increase from FY '25, despite challenges.
What is SJVN Ltd share price analysis?
SJVN Ltd currently shows a below-average growth signal. The stock trades at a P/E of 42.5 with a market cap of ₹27,159 Cr. Investors should review the full earnings analysis for detailed insights.
Is SJVN Ltd planning capital expenditure?
FY '26 CAPEX plan: INR 9,400 crores - FY '27 CAPEX plan: INR 7,800 crores - FY '28 CAPEX plan: INR 7,500 crores - Total under construction portfolio includes: - Four hydro projects (1,561.5 MW
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.