SJVN Ltd's Q4FY18 standalone net profit declines 52.7% yoy to Rs132.9cr

The company’s standalone revenue stood at Rs344.8cr, down 33.4% yoy and 23.6% qoq

May 28, 2018 03:05 IST India Infoline Research Team

SJVN Ltd Q4FY18

Standalone Results Q4FY18: (Rs. in cr)

Q4FY18 YoY (%)
Revenue 344.8 [33.4]
EBITDA 206.2 [42.6]
EBITDA Margin (%) 59.8 [948]
Net Profit (adjusted) 132.9 [52.7]
***EBITDA margin change is bps
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Buy

Reco. Price

31.7

Last updated on

21-May-2018


SJVN reported de-growth in revenues and earnings in Q4FY18 due to lower water levels leading to lesser power generation for the hydro-electric plants. Revenue fell by 33.4% yoy to Rs344.8cr. EBITDA stood at Rs206.2cr, down 42.6% yoy, while EBIDTA margin fell by 948bps yoy to 59.8%. Net Profit stood at Rs132.9cr, down 52.7% yoy.
  • CERC reduced the Annual Fixed Charge for Nathpa Jhakri Hydro Power Station (NHJPS) from Rs1,656.8cr in FY17 to Rs1,368.8cr for FY18. This decrease was due to the reduction in depreciation as per CERC regulations.
  • Project-wise sales for FY18 stood at:
    • NJHPS – Rs1583.9cr, down 22% yoy
    • RHPS – Rs 610.2cr, down 2.7% yoy
    • Wind – Rs32.4cr, up 52.8% yoy
    • Solar – Rs2cr
  • Consolidated Results for FY18 stood at:
    • Revenue - Rs2,228cr, down 16.8% yoy
    • EBITDA - Rs1,677cr, down 23.4% yoy
    • EBITDA Margin - 75.2%, down 648bps yoy
    • Net Profit - Rs1,222cr, down 20.7% yoy
  • An amount of Rs550cr is due but not recognized due to significant uncertainty of collection.


Technical View:

SJVN Ltd is currently trading at Rs. 31.85, up by 0.05 points or 0.16% from its previous closing of Rs. 31.80 on the BSE.
The scrip opened at Rs. 33.40 and has touched a high and low of Rs. 33.40 and Rs. 31.85 respectively. So far 4,21,198 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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