By: Vijay Kumar Verma, Editor-ICN Group
TO PAY RS.864 CRORE DIVIDEND.
TO INVEST RS.20, 000 CRORE FOR 2880 MW CAPACITY ADDITION.
SHIMLA- September 28, 2019: The standalone revenue from operations of public sector SJVN Limited registered an increase of more than 19 percent during the financial year 2018-19, told Nand Lal Sharma, Chairman and Managing Director while sharing financial results of the company here today. He told that the company had earned operational revenue of Rs.2655.77 crore during the year against Rs 2229.97 crore earned during the previous financial year, registering an increase of Rs.425.80 crore. Total revenue for the period increased 12 percent, from Rs.2587 crore to Rs.2909 crore.
The company also registered more than 11 percent increase in the Profit After Tax (PAT) at Rs.1364.29 crore during the financial year against Rs.1224.88 crore earned during the previous year, he said. Earning per share (EPS) of the company increased from Rs.2.97 to Rs.3.47.
Nand Lal Sharma informed that the Board of Directors of the company at the AGM held yesterday, had declared a dividend of Rs.2.15 per equity share for the financial year 2018-19 against Rs.2.10 paid last year. SJVN would be paying a total dividend of Rs.844.91 crore to the shareholders on account of the financial performance.
61.93 % equity of the company is held by the Government of India while the Government of Himachal holds 26.85 % and 11.22 % equity is held by the public. The company has already paid an interim dividend @ Rs.1.50 to the shareholders while the balance Rs.0.65 is now payable.
SJVN has already paid a dividend of Rs.6888 crore to the equity holders, he said. Government of India has already been paid a total dividend of Rs.4413 crore while the government of Himachal Pradesh has been paid Rs.1711 crore since commencement of commercial operations, he added. The present networth of the company has risen to Rs 11238 crore.
Talking about the generation of electricity at the company’s five power plants during the financial year, Sharma told that a total 8435 million units had been generated which included 100 million units from renewable sources. The company has two hydro power plants of 1912 MW capacity, two wind power plants and one solar power plant of 103 MW capacity in operation.
During the current financial year the five power plants of the company have already generated more than 7355 Million units of electricity against the annual target of 9100 million units. The company aims to achieve the targets assigned by the Ministry of Power and earn a total revenue of Rs.2450 crore during FY 2020.
Sharma further informed that in addition to the five power plants of 2015 MW capacity in operation, SJVN has four other projects of a total capacity of 2880 MW under various stages of construction on which the company plans an investment of Rs.20,000 crore over the next four years. These projects include 900 MW Arun-3 Hydro power project in Nepal, 600 MW Kholongchu Hydro Power Project in Bhutan, 1320 MW Buxar Thermal Power Project in Bihar and 60 MW Naitwar Mori Hydro power project in Uttarakhand. He told that the Government of India had also accorded investment approval of Rs.1276 crore on the Indo-Nepal portion of 217 cKm Transmission line for evacuation of power from the upcoming Arun-3 project of the company.
Nand Lal Sharma informed that SJVN had recently been allocated 7 hydro power projects of a total capacity of 1958 MW in Himachal Pradesh involving an investment of Rs 18165 crore and offer employment to 10,000 people. . Memorandum of Understanding (MoUs) for these projects, he said, had been signed by the company with the state Government of. Of the 7 projects to be taken up by SJVN, 4 are located in Satluj river basin, 2 in Chenab river basin and 1 in Beas river basin.
Talking about social commitments of the company, Sharma told that SJVN had incurred an expenditure of Rs.40.25 crore on various CSR activities during the last financial year and the sum was Rs.5.40 crore more than the due budgeted under the Company’s Act. The company has long been engaged in social welfare issues like health and hygiene, education and skill development, infrastructure development etc.
With power projects under survey and investigation and proposed to be added, SJVN has set for itself an ambitious target of becoming a 5000 MW company by 2023, 12000 MW by the year 2030 and 25000 MW by the year 2040.