एसजेवीएन लिलिटेड SJVN Limited
(A Joint Venture of Govt. of India & Govt. of H.P.)
A Navratna CPSE
CIN: L40101HP1988GOI008409
SJVN/CS/93/2025- Date: 02/06/2025
NSE Symbol: SJVN-EQ SCRIP CODE: 533206
National Stock Exchange of India Limited,
Exchange Plaza, Bandra Kurla Complex,
Bandra East, Mumbai 400 051, India
BSE Limited,
Phiroze Jeejeebhoy Towers, Dalal Street,
Mumbai 400 001, India
SUB: Transcript of conference call held with Investors and Analysts to discuss the financial results for the quarter/year ended March 31, 2025
Sir/Madam,
In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, kindly find attached herein the transcript of conference call held with Investors and Analysts, in the form of group meeting, on Friday, May 30, 2025, to discuss the financial results for the quarter/year ended March 31, 2025.
Kindly take the above information on record and oblige.
Thanking you,
Yours faithfully,
SOUM
A DAS
ENDR
Digitally signed by SOUMENDRA DAS
DN: C=IN, O=Personal, T=7287,
Phone= f77c308884a7da7a6b95a41dee8ba30 6596ab65423166219b5c00136837983
28, PostalCode=171009, S=Himachal Pradesh, SERIALNUMBER=
b0ac2b06e36a51be06bec20ba87c45c 9e47e23efc6af80be69741d46bd519ec 2, CN=SOUMENDRA DAS
Reason: I am the author of this
document Location:
Date: 2025.06.02 11:54:58+05'30'
(Soumendra Das)
Foxit PDF Editor Version: 13.0.0
Company Secretary
Encl:
As stated above
पंजीकृत एवं कॉपोरेट कार्ाािर्: एसजेवीएन कॉर्पोरेट ऑफिस कॉम्प्लेक्स, शनान, शशमला - 171006 हिमाचल प्रदेश
Registered & Corporate Office: SJVN Corporate Office Complex, Shanan, Shimla - 171006, Himachal Pradesh
दूरभाष / Tel No.: 0177-2660075, फ़ैक्स / Fax: 0177-2660071, ईिेि / Email: cs.sjvn@sjvn.nic.in, वेबसाइट / Website: https://www.sjvn.nic.in
"SJVN Limited
Q4 & FY25 Earnings Conference Call" May 30, 2025
MANAGEMENT: MR. BHUPENDER GUPTA, CHAIRMAN AND MANAGING DIRECTOR, SJVN LIMITED, MR. SUSHIL SHARMA, DIRECTOR (PROJECTS), SJVN LIMITED, MR. AJAY KUMAR SHARMA, DIRECTOR (PERSONNEL), SJVN LIMITED MR. R. P. GOYAL, DIRECTOR (FINANCE), SJVN LIMITED, MR. SOUMENDRA DAS, COMPANY SECRETARY, SJVN LIMITED MODERATOR: MS. RAGINI PANDE, ELARA SECURITIES PRIVATE LIMITED
Moderator: Ladies and gentlemen, welcome to the Q4 & FY25 Earnings Conference Call of SJVN Limited hosted by Elara Securities (India) Private Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star than zero on your touchtone phone. Please note that this conference has been recorded. I now hand the conference over to Mr. Ragini Pande. Thank you and over to you ma'am.
Ragini Pande: Good morning everyone. On behalf of Elara Securities, we welcome you all for the Q4 FY24 conference call of SJVN. I take this opportunity to welcome the management of SJVN represented by Mr. Bhupender Gupta, CMD, Mr. R. P. Goyal, Director Finance, Mr. Ajay Sharma, Director Personnel. We will now begin the call with a brief overview by the management followed by the question and answer session.
Bhupender Gupta: A very good morning to all of you. I am pleased to accompany today by our Director Projects is Sushil Sharma, Director Finance Shri. R. P. Goyal ji and Director Personnel Shri. Ajay Sharma ji. It gives me immense pleasure to share with you some significant developments from the fourth quarter of Financial Year 24-25 as well as key milestones achieved in the current quarter of Financial Year 25-26.
I am delighted to inform you that Honorable Prime Minister Shri Narendra Modi ji virtually laid foundation stone for our 100 megawatt Nava Solar Power projects on 22nd of May 2025 in the Bikaner and the project is located in Nava district of Rajasthan and is being developed by SJVN's wholly owned subsidiary that is SJVN Green Energy Limited. This project is expected to generate around 254 million units in a first year and the generated power will be supplied to Rajasthan Distribution Company at a tariff of 2.62 per unit.
Another milestone which we have achieved during this quarter that is the commercial operation of 320 megawatt capacity 100,000 megawatt Bikaner Solar Power projects and we have recently commissioned the second phase that is 78 megawatt on 15th May, 2025. With this the total capacity which is now under operation is 320 megawatt and the balance capacity will be commissioned during the next two quarters that is by October 2025, we will be commissioning the entire 1000 megawatt capacity.
One of the another key milestone in our business portfolio expansion we have signed a MOU with the Government of Chhattisgarh on 10th March, 2025 for development of closed loop pump storage plant which is located in Balram district of Chhattisgarh and it will be generating around 3959 million units once it is commissioned.
Regarding our signing of some of the PPA's Power Purchase Agreements for our ongoing under construction projects we have recently signed PPA with Damodar Valley Corporation for sale of our entire 210 megawatt of Luhri Hydroelectric Project, 115 megawatt out of 382 megawatt from Sunni Dam and 200 megawatt out of 900 megawatt from Arun 3 HEP. So this is really a
great significant development because once we generate then we need to sell the power also so to sign the PPA prior to commissioning is a big achievement for any company.
Regarding the progress of our other ongoing projects some of the major milestone which we have achieved during the fourth quarter of 2025 and the current quarter of financial year 2025 are steam blowing for the Unit 1 of our Buxar Thermal Plant 660 megawatt first unit was completed in January '25 and now we are heading towards the synchronization of the machine and also the commercial operation date which we will be achieving by 15th of July during this 2025.
So this is a big achievement for us because this particular plant will be generating around 9828 million units per annum with 85% power to be supplied to state of Bihar only because second unit also we will be commissioning this year only this calendar year.
Another significant milestone that in 900 megawatt Arun-3 Hydro Electric Project in Nepal, we have started the -- we have given the front to electromechanical contractor to start the electromechanical activities for Unit 2 also which is significant milestone again because now it is clear that civil works are complete and now we are heading towards the erection and commissioning of the electromechanical equipment.
Some of the other highlights for our outstanding power generation of our under operation plant for financial year 2025- '24'-'25 are as follows, our flagship 1500 megawatt Nathpa Jhakri Hydro Power Station achieved remarkable generation of 7421.45 million units up from 6311.80 million units in FY '23-'2,5 so it is almost more than 1100 million units more than the previous year.
Similarly in Rampur Hydroelectric Power Station 400 megawatt again we generated 2074 million units, a significant increase from previous year of 1778 million units. So our total generation from all the power plants is 10647 as compared to 8489 in the financial year '23-'24, that is increase of 25.44 year-over-year. So this is a significant achievement during this year.
Now our current project portfolio, I just want to give a brief about that. SJVNL currently has 13 operational projects with a combined capacity of 2786.5 megawatt, along with 2 transmission lines. We are currently constructing around -- we are constructing 4 hydro projects with a total capacity of 1558 megawatt, 1 thermal power project of 1320 megawatt and 11 solar projects totaling 1773 megawatt. This brings our under construction project portfolio to 4601 megawatt.
In line with the government of energy India's vision for energy accessibility, we are pleased to share that SJVNL has been selected as a pivotal role in the recently launched PM Surya Ghar Muft Bijli Yojana. This initiative aims to provide free electricity to 1 crore household across India and SJVNL has been entrusted with the responsibility of implementing this scheme along with other PSUs. Additionally, we have been assigned responsibility for installing rooftop solar system on government building covering 18 ministries. So this work is in the process.
And you may aware that SJVNL has been listed as one of the Renewable Energy Implementing Agencies by Ministry of MNRE to contribute towards the nation's ambitious 500 gigawatt renewable energy target by 2030 and for the fiscal year '24-'25 we have floated tender for a total of 7.5 gigawatt.
Further, I am happy to report that letter of awards have been already issued to 2.4 gigawatt out of total capacity. So cumulatively till date tenders have been floated under this our flagship REIA we have 18.6 gigawatt against 20.8 gigawatt. Alloys have been issued against 13.748 and power sale agreement and power purchase agreement have been signed for 5.188 gigawatt.
So I am pleased to share that SJVN flagship project Nathpa Jhakri has been recognized with prestigious CBIP award for best maintained project in the hydro sector on 22nd March 2025. This award underscores our commitment to operational excellence. So this is really great achievement for us again this year and as we continue to build our success I would like to reaffirm that SJVN is on the track to realize our ambitious vision of achieving the installed capacity and also to maintain the operational excellence also. Thank you so much. Now we are open for the questions.
Moderator: Thank you very much. We will now begin the question and answer session. The first question is from the line of Mohit Surana from Monarch Networth Capital Limited. Please proceed.
Mohit Surana: Sunni projects, I think those are I mean there is some court case going on regarding the case between the government of Himachal Pradesh and SJVN. Are we still proceeding with the construction of these projects or what is the status? If you can let me know that will be great. And I have one more question which I will ask after this one?
Bhupender Gupta: Yes, I just want to convey you that yes there is some cases going on with government of HP, but that is not impacting our construction of the projects because unless some decision is taken to handover or takeover of these projects or discontinuation of the projects or whatever we have spent on the projects that is given to us. So we have not anything not decided as of now. So the construction is going on all the three projects which are under dispute.
Mohit Surana: Sir, just in case if government of HP decides to take over the projects or if they win the court case, so what will happen to all the expenses or expenditures that we have incurred on this project?
Bhupender Gupta: No, that they will be definitely reimbursing it to us. That is the understanding and accordingly the same has been conveyed to government of HP by the central government.
Mohit Surana: Understood. But sir, will there be some kind of interest payments on those expenses or will it be just the amount that we will have to redeem from the government?
Bhupender Gupta: No, my Director Finance is also there. So he would like to add that what type of expenses they will be reimbursing us.
R. P. Goyal: Mr. Mohit, they will be reimbursing all the costs which we have already incurred and which we are going to incur till the final decision is taken. The reimbursement will be along with interest.
Mohit Surana: Okay, but what are the chances?
R. P. Goyal: We will be claiming the apportioned loss also from the state government.
Mohit Surana: Sorry sir, can you just clarify that again?