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SJVN Ltd

SJVN

NSE

₹51.11-5.14%19 Oct 2026

Reports

Power Generation and Distribution

SJVN Ltd

SJVN

NSE

₹51.11

-5.14%

19 Oct 2026

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Power Generation and Distribution

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

SJVN began as a single-project company in 1988 to build India’s largest hydropower station on the Satluj River, and has since evolved into a diversified power generator that now spans hydro, thermal, solar, wind, and pumped storage across India and Nepal. It is a Navratna public-sector enterprise under the Ministry of Power, a status that gives it greater autonomy to bid, invest, and partner, and its recurring approach is to anchor itself on long-term regulated or contracted tariffs while using its legacy hydro cash flows to fund newer, capital-intensive technologies. In effect, it builds power plants, sells every unit under a fixed-price agreement, and then reinvests in the next plant.

Business segments

Five engines at different stages - a regulated hydro cash cow, a newly fired thermal plant, a national-scale renewable platform, a cross-border hydro bet, and a pipeline of pumped-storage projects - each built with the cash flows of the one before.

1. Hydropower: the regulated foundation that pays for everything else

Three run-of-river stations on Himalayan rivers sell electricity under cost-plus tariffs set by the central regulator, earning a guaranteed return on every rupee of equity deployed.

Paid for availability, not just generation - tariffs are split into Energy Charges (recovered on actual generation up to a design-energy cap) and Capacity Charges (recovered based on how reliably the plant is available, measured against a normative target of 87% for NJHPS and 83% for RHPS). Because the stations routinely beat those targets - NJHPS hit 104.54% plant availability in the first nine months of FY25 - they earn incentive income on top of the fixed charges.
Cascade design doubles the water’s value - the 1,500 MW Nathpa Jhakri station and the 412 MW Rampur station sit one after the other on the same river, so the same flow generates power twice. A third operational station, the 60 MW Naitwar Mori project in Uttarakhand, was commissioned in December 2023.
Silt is the enemy, and it fights it in-house - Himalayan rivers carry heavy silt loads that erode turbine components, so the company runs its own hard-coating facility at one power station and has R&D partnerships with IIT Madras on erosion-resistant coatings and IIT Roorkee on a hydrokinetic turbine.
Four more under construction - 1,561.5 MW of hydro capacity is being built across the Luhri Stage-I, Dhaulasidh, and Sunni Dam projects in Himachal Pradesh, with the 69.5 MW Dhaulasidh project targeted for commissioning by March 2027. Power purchase agreements for all three Himachal projects were signed with Gujarat in June 2026.

2. Thermal power: the new baseload engine just switched on

A two-unit supercritical coal plant in Bihar supplies 85% of its output to the state under a long-term contract, adding round-the-clock capacity to a portfolio long dominated by seasonal hydro.

Bihar is the anchor customer - 85% of the plant’s roughly 9,828 million units of annual generation is committed to the state under a long-term Power Purchase Agreement, giving the project a guaranteed offtake from day one.
Supercritical means less coal per unit - the technology choice delivers higher efficiency and lower emissions than older subcritical plants, which matters because the anticipated project cost is ₹12,999.4 crore and fuel cost is the main operating variable.
A third unit is being explored - a coal linkage for a potential 800 MW third unit has already been recommended by Coal India’s Standing Linkage Committee, and survey work is underway.

3. Solar and wind: the national-scale renewable buildout

A wholly owned subsidiary, SGEL, bids for solar and wind projects in competitive auctions, locks in 25-year tariffs, and then constructs them on an EPC basis - a capital-deployment engine scaling fast.

Bikaner is the flagship - the 1,000 MW Bikaner solar project in Rajasthan, commissioned in December 2025, is India’s largest single-location EPC solar project under domestic-content rules, built on 5,000 acres of owned land at a cost of ₹5,492 crore. It uses roughly 24.22 lakh Indian-made solar modules and sells power to three states at ₹2.57 per unit.
Floating solar marks a new capability - the 90 MW Omkareshwar project in Madhya Pradesh, commissioned in October 2024, is the company’s first floating solar plant, built on a reservoir at a cost of ₹646.20 crore.
A legacy wind portfolio sits on the parent’s books - 47.6 MW in Maharashtra and 50 MW in Gujarat, both commissioned before SGEL was formed in 2022, plus a small 5.6 MW solar plant in Gujarat, together totaling 103.2 MW of older renewable assets.
A green-hydrogen supply deal is taking shape - SGEL signed an MoU with AM Ammonia (India) Private Limited to explore setting up 4,500 MW of solar and wind capacity to supply about 11,500 million units annually to a green ammonia plant in Andhra Pradesh, with the parties agreeing to explore a dollar-denominated tariff.

4. International hydropower: a cross-border bet on Nepal’s rivers

Two run-of-river projects on the Arun River basin are being built under build-own-operate-transfer arrangements, with power evacuated to India over a transmission line the company co-owns.

Arun-III is the beachhead - the 900 MW project is under construction through a wholly owned Nepalese subsidiary, SAPDC, on a BOOT basis.
Lower Arun follows downstream - the 669 MW Lower Arun project received Indian cabinet approval in August 2024, with an investment of ₹5,792.36 crore and a levelized tariff of ₹4.99 per unit for its 2,900 million units of annual generation, to be commissioned within 60 months.
The transmission line is part of the package - a 217 km, 400 kV double-circuit line is being built to carry power from both projects to Sitamarhi in Bihar, and SJVN holds a 41.94% stake in the joint venture that owns the Indian portion of that line.

5. Pumped storage: the storage pipeline for a renewable-heavy grid

The company is assembling a portfolio of pumped-storage projects across six states, using MoUs with state governments to lock in sites before building begins.

Maharashtra is the biggest commitment - an MoU signed in September 2024 covers five projects totaling 8,100 MW, with an estimated investment of ₹48,000 crore.
Bihar came first - SJVN was appointed nodal agency by the Ministry of Power in August 2022 for developing pumped storage in the state, and four sites totaling 2,570 MW were allotted for studies, with the 1,000 MW Hathidah Durgawati project designed to generate 2,308.65 million units of peak energy annually at a levelized tariff of ₹9.39 per kWh.
Mizoram and Chhattisgarh add diversity - the 2,400 MW Darzo Lui project in Mizoram is an on-stream closed-loop design with eight 300 MW units and an estimated cost of ₹13,947.50 crore, while the 1,800 MW Kotpali project in Chhattisgarh is an off-stream closed-loop type with a proposed state joint venture.
Rajasthan and Himachal Pradesh round out the map - MoUs cover 5 GW of pumped storage and 2 GW of floating solar in Rajasthan, and 1,225 MW across three projects in Himachal Pradesh.

Group structure and partners

SJVN is a listed joint venture of the central and Himachal Pradesh governments, operating its non-hydro businesses through four wholly owned subsidiaries and entering new geographies and technologies through state-level joint ventures.

SGEL is the renewable-energy subsidiary - incorporated in March 2022, it holds all solar and wind projects, with operational capacity of 390 MW as of early 2025 and a pipeline of over 6,600 MW under construction or pre-construction. The board approved in-principle dilution of SJVN’s stake in SGEL in August 2024, subject to government concurrence.
STPL holds the thermal plant - the wholly owned subsidiary is developing the 1,320 MW Buxar project in Bihar.
Two Nepal subsidiaries hold the Arun projects - SAPDC for the 900 MW Arun-III and SLAPDC (incorporated May 2023) for the 669 MW Lower Arun.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

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Quarterly Results

Profit & Loss

Balance Sheet

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Ratios

Peer Comparison

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Mkt Cap

Market Capitalization

₹20,085Cr

Close Price

₹51.11

Industry

Power Generation and Distribution

Price To Earnings

29.89

Price To Sales

4.01

Revenue

₹5,005Cr

Rev Gr TTM

Revenue Growth TTM

60.47%

PAT Gr TTM

PAT Growth TTM

-7.19%

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	878	543	483	870	1,026	671	504	917	1,032	1,082	1,496	1,394
Growth YoY Revenue Growth YoY%	0.0	-1.6	-4.1	29.0	16.8	23.5	4.5	5.4	0.6	61.3	196.7	52.0
Expenses ExpensesCr	172	175	243	203	198	201	264	175	172	244	587	510
Operating Profit Operating ProfitCr	706	368	240	667	828	470	241	742	860	838	910	884
OPM OPM%	80.4	67.8	49.7	76.7	80.7	70.1	47.8	80.9	83.3	77.4	60.8	63.4
Other Income Other IncomeCr	74	40	195	89	83	91	47	45	48	44	54	35
Interest Expense Interest ExpenseCr	124	122	121	143	198	229	159	216	315	245	522	326
Depreciation DepreciationCr	102	112	242	131	133	137	275	160	171	216	494	247
PBT PBTCr	555	174	71	483	581	195	-146	411	422	421	-53	346
Tax TaxCr	129	44	-3	105	150	40	-14	157	145	133	71	86
PAT PATCr	440	139	61	357	440	149	-128	228	308	224	-118	225
Growth YoY PAT Growth YoY%	-1.3	-51.6	254.9	31.4	0.1	7.0	-309.1	-36.3	-30.0	50.8	7.7	-1.3
NPM NPM%	50.0	25.6	12.7	41.0	42.9	22.2	-25.3	24.8	29.8	20.7	-7.9	16.1
EPS EPS₹	1.1	0.3	0.2	0.9	1.1	0.4	-0.3	0.6	0.8	0.6	-0.3	0.7

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	878	543	483	870	1,026	671	504	917	1,032	1,082	1,496	1,394
Growth YoY Revenue Growth YoY%	0.0	-1.6	-4.1	29.0	16.8	23.5	4.5	5.4	0.6	61.3	196.7	52.0
Expenses ExpensesCr	172	175	243	203	198	201	264	175	172	244	587	510
Operating Profit Operating ProfitCr	706	368	240	667	828	470	241	742	860	838	910	884
OPM OPM%	80.4	67.8	49.7	76.7	80.7	70.1	47.8	80.9	83.3	77.4	60.8	63.4
Other Income Other IncomeCr	74	40	195	89	83	91	47	45	48	44	54	35
Interest Expense Interest ExpenseCr	124	122	121	143	198	229	159	216	315	245	522	326
Depreciation DepreciationCr	102	112	242	131	133	137	275	160	171	216	494	247
PBT PBTCr	555	174	71	483	581	195	-146	411	422	421	-53	346
Tax TaxCr	129	44	-3	105	150	40	-14	157	145	133	71	86
PAT PATCr	440	139	61	357	440	149	-128	228	308	224	-118	225
Growth YoY PAT Growth YoY%	-1.3	-51.6	254.9	31.4	0.1	7.0	-309.1	-36.3	-30.0	50.8	7.7	-1.3
NPM NPM%	50.0	25.6	12.7	41.0	42.9	22.2	-25.3	24.8	29.8	20.7	-7.9	16.1
EPS EPS₹	1.1	0.3	0.2	0.9	1.1	0.4	-0.3	0.6	0.8	0.6	-0.3	0.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	2,494	2,679	2,229	2,645	2,703	2,485	2,417	2,938	2,579	3,072	4,528	5,005
Growth Revenue Growth%	-11.5	7.4	-16.8	18.7	2.2	-8.0	-2.8	21.6	-12.2	19.1	47.4	60.5
Expenses ExpensesCr	442	490	542	622	672	687	691	708	737	851	1,179	1,514
Operating Profit Operating ProfitCr	2,052	2,190	1,687	2,023	2,031	1,799	1,726	2,230	1,842	2,221	3,350	3,492
OPM OPM%	82.3	81.7	75.7	76.5	75.1	72.4	71.4	75.9	71.4	72.3	74.0	69.8
Other Income Other IncomeCr	542	411	410	397	593	448	199	319	381	310	191	181
Interest Expense Interest ExpenseCr	209	46	84	235	268	-3	161	415	482	743	1,298	1,408
Depreciation DepreciationCr	677	680	365	390	384	393	404	396	557	676	1,042	1,129
PBT PBTCr	1,709	1,875	1,648	1,795	1,972	1,856	1,360	1,738	1,183	1,112	1,201	1,135
Tax TaxCr	298	330	423	428	405	211	370	378	272	294	559	435
PAT PATCr	1,411	1,545	1,225	1,367	1,567	1,646	990	1,359	911	818	642	639
Growth PAT Growth%	-15.9	9.5	-20.8	11.6	14.7	5.0	-39.9	37.3	-33.0	-10.3	-21.5	-7.2
NPM NPM%	56.6	57.7	55.0	51.7	58.0	66.2	41.0	46.3	35.3	26.6	14.2	12.8
EPS EPS₹	3.4	3.7	3.0	3.5	4.0	4.2	2.5	3.5	2.3	2.1	1.6	1.7

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	2,494	2,679	2,229	2,645	2,703	2,485	2,417	2,938	2,579	3,072	4,528	5,005
Growth Revenue Growth%	-11.5	7.4	-16.8	18.7	2.2	-8.0	-2.8	21.6	-12.2	19.1	47.4	60.5
Expenses ExpensesCr	442	490	542	622	672	687	691	708	737	851	1,179	1,514
Operating Profit Operating ProfitCr	2,052	2,190	1,687	2,023	2,031	1,799	1,726	2,230	1,842	2,221	3,350	3,492
OPM OPM%	82.3	81.7	75.7	76.5	75.1	72.4	71.4	75.9	71.4	72.3	74.0	69.8
Other Income Other IncomeCr	542	411	410	397	593	448	199	319	381	310	191	181
Interest Expense Interest ExpenseCr	209	46	84	235	268	-3	161	415	482	743	1,298	1,408
Depreciation DepreciationCr	677	680	365	390	384	393	404	396	557	676	1,042	1,129
PBT PBTCr	1,709	1,875	1,648	1,795	1,972	1,856	1,360	1,738	1,183	1,112	1,201	1,135
Tax TaxCr	298	330	423	428	405	211	370	378	272	294	559	435
PAT PATCr	1,411	1,545	1,225	1,367	1,567	1,646	990	1,359	911	818	642	639
Growth PAT Growth%	-15.9	9.5	-20.8	11.6	14.7	5.0	-39.9	37.3	-33.0	-10.3	-21.5	-7.2
NPM NPM%	56.6	57.7	55.0	51.7	58.0	66.2	41.0	46.3	35.3	26.6	14.2	12.8
EPS EPS₹	3.4	3.7	3.0	3.5	4.0	4.2	2.5	3.5	2.3	2.1	1.6	1.7

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	4,137	4,137	3,930	3,930	3,930	3,930	3,930	3,930	3,930	3,930	3,930
Reserves ReservesCr	7,166	7,353	6,770	7,316	8,121	8,861	9,241	9,930	10,141	10,249	10,309
Current Liabilities Current LiabilitiesCr	668	799	818	900	987	1,804	2,625	4,269	4,103	4,536	9,004
Non Current Liabilities Non Current LiabilitiesCr	3,418	3,103	2,872	2,828	2,917	2,878	7,453	14,183	21,017	27,338	28,512
Total Liabilities Total LiabilitiesCr	15,389	15,392	14,390	14,974	15,955	17,473	23,248	32,311	39,191	46,063	51,766
Current Assets Current AssetsCr	5,375	5,411	4,452	4,305	3,603	2,799	4,103	4,818	4,896	4,058	5,738
Non Current Assets Non Current AssetsCr	10,014	9,981	9,939	10,668	12,352	14,675	19,145	27,493	34,295	42,005	46,028
Total Assets Total AssetsCr	15,389	15,392	14,390	14,974	15,955	17,473	23,248	32,311	39,191	46,063	51,766

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	4,137	4,137	3,930	3,930	3,930	3,930	3,930	3,930	3,930	3,930	3,930
Reserves ReservesCr	7,166	7,353	6,770	7,316	8,121	8,861	9,241	9,930	10,141	10,249	10,309
Current Liabilities Current LiabilitiesCr	668	799	818	900	987	1,804	2,625	4,269	4,103	4,536	9,004
Non Current Liabilities Non Current LiabilitiesCr	3,418	3,103	2,872	2,828	2,917	2,878	7,453	14,183	21,017	27,338	28,512
Total Liabilities Total LiabilitiesCr	15,389	15,392	14,390	14,974	15,955	17,473	23,248	32,311	39,191	46,063	51,766
Current Assets Current AssetsCr	5,375	5,411	4,452	4,305	3,603	2,799	4,103	4,818	4,896	4,058	5,738
Non Current Assets Non Current AssetsCr	10,014	9,981	9,939	10,668	12,352	14,675	19,145	27,493	34,295	42,005	46,028
Total Assets Total AssetsCr	15,389	15,392	14,390	14,974	15,955	17,473	23,248	32,311	39,191	46,063	51,766

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,209	2,376	1,641	1,018	1,714	1,983	2,138	1,632	1,310	2,483	1,860
Investing Cash Flow Investing Cash FlowCr	-768	-1,199	15	-34	-95	-1,145	-6,132	-6,877	-5,502	-6,430	-3,481
Financing Cash Flow Financing Cash FlowCr	-705	-1,621	-2,272	-1,107	-1,345	-1,105	3,669	5,559	4,502	3,939	2,385
Net Cash Flow Net Cash FlowCr	736	-444	-616	-123	273	-267	-325	314	309	-8	763
Free Cash Flow Free Cash FlowCr	2,209	2,376	1,641	1,018	1,714	1,983	2,138	1,632	1,310	2,483	1,860
CFO To PAT CFO To PAT%	156.6	153.8	134.0	74.5	109.4	120.5	216.0	120.1	143.7	303.5	289.7
CFO To EBITDA CFO To EBITDA%	107.6	108.5	97.3	50.3	84.4	110.2	123.8	73.2	71.1	111.8	55.5

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	2,209	2,376	1,641	1,018	1,714	1,983	2,138	1,632	1,310	2,483	1,860
Investing Cash Flow Investing Cash FlowCr	-768	-1,199	15	-34	-95	-1,145	-6,132	-6,877	-5,502	-6,430	-3,481
Financing Cash Flow Financing Cash FlowCr	-705	-1,621	-2,272	-1,107	-1,345	-1,105	3,669	5,559	4,502	3,939	2,385
Net Cash Flow Net Cash FlowCr	736	-444	-616	-123	273	-267	-325	314	309	-8	763
Free Cash Flow Free Cash FlowCr	2,209	2,376	1,641	1,018	1,714	1,983	2,138	1,632	1,310	2,483	1,860
CFO To PAT CFO To PAT%	156.6	153.8	134.0	74.5	109.4	120.5	216.0	120.1	143.7	303.5	289.7
CFO To EBITDA CFO To EBITDA%	107.6	108.5	97.3	50.3	84.4	110.2	123.8	73.2	71.1	111.8	55.5

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	11,851	14,002	13,106	9,510	8,135	10,237	10,787	13,067	47,708	36,005	24,903	20,085
Price To Earnings Price To Earnings	8.7	9.1	10.7	7.0	5.2	6.2	10.9	9.6	52.3	43.8	38.9	29.9
Price To Sales Price To Sales	4.8	5.2	5.9	3.6	3.0	4.1	4.5	4.4	18.4	11.7	5.5	4.0
Price To Book Price To Book	1.1	1.2	1.2	0.8	0.7	0.8	0.8	0.9	3.4	2.5	1.8	1.4
EV To EBITDA EV To EBITDA	5.1	5.4	6.8	4.2	3.8	6.2	8.6	10.5	34.9	27.0	16.3	14.6
Profitability Ratios Profitability Ratios
GPM GPM%	97.3	97.1	96.5	96.2	96.6	96.3	96.0	96.3	93.6	92.5	89.3	89.3
OPM OPM%	82.3	81.7	75.7	76.5	75.1	72.4	71.4	75.9	71.4	72.3	74.0	69.8
NPM NPM%	56.6	57.7	55.0	51.7	58.0	66.2	41.0	46.3	35.3	26.6	14.2	12.8
ROCE ROCE%	13.9	14.0	13.6	15.4	15.9	12.4	7.6	7.7	4.8	4.5	5.4	5.4
ROE ROE%	12.5	13.4	11.4	12.2	13.0	12.9	7.5	9.8	6.5	5.8	4.5	4.5
ROA ROA%	9.2	10.0	8.5	9.1	9.8	9.4	4.3	4.2	2.3	1.8	1.2	1.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	11,851	14,002	13,106	9,510	8,135	10,237	10,787	13,067	47,708	36,005	24,903	20,085
Price To Earnings Price To Earnings	8.7	9.1	10.7	7.0	5.2	6.2	10.9	9.6	52.3	43.8	38.9	29.9
Price To Sales Price To Sales	4.8	5.2	5.9	3.6	3.0	4.1	4.5	4.4	18.4	11.7	5.5	4.0
Price To Book Price To Book	1.1	1.2	1.2	0.8	0.7	0.8	0.8	0.9	3.4	2.5	1.8	1.4
EV To EBITDA EV To EBITDA	5.1	5.4	6.8	4.2	3.8	6.2	8.6	10.5	34.9	27.0	16.3	14.6
Profitability Ratios Profitability Ratios
GPM GPM%	97.3	97.1	96.5	96.2	96.6	96.3	96.0	96.3	93.6	92.5	89.3	89.3
OPM OPM%	82.3	81.7	75.7	76.5	75.1	72.4	71.4	75.9	71.4	72.3	74.0	69.8
NPM NPM%	56.6	57.7	55.0	51.7	58.0	66.2	41.0	46.3	35.3	26.6	14.2	12.8
ROCE ROCE%	13.9	14.0	13.6	15.4	15.9	12.4	7.6	7.7	4.8	4.5	5.4	5.4
ROE ROE%	12.5	13.4	11.4	12.2	13.0	12.9	7.5	9.8	6.5	5.8	4.5	4.5
ROA ROA%	9.2	10.0	8.5	9.1	9.8	9.4	4.3	4.2	2.3	1.8	1.2	1.2
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	TORNTPOWER	NLCINDIA	ACMESOLAR	SJVN	CESC	JNPR	JPPOWER
Market CapitalizationMkt CapCr	60,917	33,806	29,618	20,085	17,643	14,965	10,212
Close PriceClose₹	1,208.90	243.80	419.00	51.11	133.10	263.00	14.90
IndustryIndustry	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution
Price To EarningsPE	26.22	12.09	42.80	29.89	11.36	1,011.54	21.29
Price To SalesPS	2.09	1.84	12.50	4.01	0.94	20.82	1.77
RevenueRevenueCr	29,184	18,381	2,370	5,005	18,853	719	5,756
Revenue Growth TTMRev Gr TTM%	4.1%	16.9%	47.5%	60.5%	8.7%		8.8%
PAT Growth TTMPAT Gr TTM%	-14.8%	12.7%	58.4%	-7.2%	12.9%		-13.7%

	TORNTPOWER	NLCINDIA	ACMESOLAR	SJVN	CESC	JNPR	JPPOWER
Market CapitalizationMkt CapCr	60,917	33,806	29,618	20,085	17,643	14,965	10,212
Close PriceClose₹	1,208.90	243.80	419.00	51.11	133.10	263.00	14.90
IndustryIndustry	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution
Price To EarningsPE	26.22	12.09	42.80	29.89	11.36	1,011.54	21.29
Price To SalesPS	2.09	1.84	12.50	4.01	0.94	20.82	1.77
RevenueRevenueCr	29,184	18,381	2,370	5,005	18,853	719	5,756
Revenue Growth TTMRev Gr TTM%	4.1%	16.9%	47.5%	60.5%	8.7%		8.8%
PAT Growth TTMPAT Gr TTM%	-14.8%	12.7%	58.4%	-7.2%	12.9%		-13.7%

FY2026

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2026

Jun 26