SJVN Limited, a leading public sector undertaking (PSU) in the energy sector, conducted its 36th Annual General Meeting (AGM) for the financial year 2023-24. During the meeting, the company’s Chairman and Managing Director (CMD), Sushil Sharma, announced the company’s remarkable performance and future vision. On August 30, 2024, SJVN earned the prestigious Navratna status.
Despite challenging hydrological conditions, SJVN successfully generated 8489 million units (MUs) of power across its hydro, solar, and wind energy projects. Sharma highlighted record-breaking production levels, with the Nathpa Jhakri Hydro Power Station (NJHPS) and Rampur Hydro Power Station (HPS) achieving new daily and monthly generation milestones in July and August 2023.
For FY 2023-24, SJVN reported a standalone revenue of Rs 2,533.59 crore, alongside a profit after tax (PAT) of Rs 908.40 crore. The company also distributed a dividend of Rs 1.80 per share. Between April 2023 and February 2024, SJVN’s stock witnessed a massive surge of 426%, pushing the company’s market capitalization to an all-time high of Rs 67,000 crore.
SJVN made significant progress in expanding its renewable energy portfolio, successfully commissioning multiple projects, and increasing its capacity to 56,802 MW across 89 projects. Among its innovative ventures is India’s first Multi-Purpose Green Hydrogen Pilot Project. Additionally, SJVN became the fourth Renewable Energy Implementing Agency (REIA) for the Government of India and signed agreements for power generation totaling 3.82 GW.
Looking ahead, SJVN plans to significantly increase its capacity to 25,000 MW by 2030 and 50,000 MW by 2040, focusing on hydroelectric and renewable energy projects.
Sharma expressed his gratitude to shareholders and stakeholders, underscoring their crucial role in supporting the company’s growth. He reaffirmed SJVN’s commitment to empowering India’s energy sector and driving future development.
