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India
As of 18 Sept 2026, 03:30 pm
SJVN's wholly owned subsidiary, SJVN Thermal Private Limited, has achieved the Commercial Operation of Unit-II (660 MW) of the 1,320 MW Buxar Thermal Power Project on September 12, 2026. This follows the successful completion of a 72-hour trial run for this unit. The project, located in Chausa, Bihar, utilizes supercritical technology and has 85% of its power allocated to Bihar under a long-term Power Purchase Agreement (PPA).
At the 38th AGM held on August 31, 2026, all nine resolutions presented were approved. These included the adoption of audited financial statements for the year ended March 31, 2026, and the declaration of a final dividend for FY 2025-26. The meeting also saw the re-appointment of Ajay Kumar Sharma and the appointment of new directors, including Parthajit De (Finance), Rajesh Kumar Chandel (Projects), Diwakar Nath Misra (Official Director), and Arti Kujur (Independent Director). Additionally, the remuneration for Statutory Auditors and Cost Auditor for FY 2026-27 was approved.
As of September 17, 2026, SJVN's stock has shown mixed performance across different timeframes. It has experienced a 1-year return of -31% and a year-to-date return of -13%. Over shorter periods, the 1-month return was -3%, and the 3-month return was -12%. Technically, the daily trend indicators, such as the Exponential Moving Average (EMA) and Simple Moving Average (SMA), show a downward slope, and the Supertrend indicator is currently in a bearish direction. The monthly trend also indicates a bearish Supertrend direction with EMAs and SMAs below the current price.
As of September 17, 2026, the nearest identified support level is at ₹64.67, which is approximately 0.12% below the current price. Further support levels are noted at ₹63.94 and ₹63.41. On the resistance side, the nearest level is at ₹65.29, about 0.83% above the current price, followed by ₹66.02.
As of 18 Sept 2026, 03:30 pm
Recent drawdown or price variability is materially high and may lead to larger short-term outcomes.
Primary driver: Price remains materially below a previous peak
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹1,394.38 crore | PEAK₹1,496.47 crore | ₹1,081.97 crore | ₹1,032.40 crore | ₹917.45 crore |
| Expenses | ₹1,083.58 crore | PEAK₹1,603.33 crore | ₹705.25 crore | ₹658.47 crore | ₹551.49 crore |
| Profit Before Exceptional Items And Tax | ₹345.20 crore | -₹54.87 crore | ₹419.22 crore | ₹419.82 crore | PEAK₹420.10 crore |
| Profit Before Tax | ₹345.20 crore | -₹54.87 crore | ₹419.22 crore | ₹419.82 crore | PEAK₹420.10 crore |
| Profit Loss For Period | ₹224.74 crore | -₹117.84 crore | ₹224.31 crore | PEAK₹307.80 crore | ₹227.58 crore |
| Finance Costs | ₹326.14 crore | PEAK₹522.14 crore | ₹244.65 crore | ₹315.10 crore | ₹215.97 crore |
SJVN’s first quarter of fiscal 2027 saw revenue from operations rise 52% year-over-year to ₹1,394 crore. However, total expenses nearly doubled and finance costs rose 51%, causing pre-tax profit to fall 18%. Net profit was essentially flat at ₹225 crore as a lower effective tax rate offset the pre-tax decline.
Revenue from operations reached ₹1,394 crore, up 52% from ₹917 crore in the same quarter last year. This continues an upward trajectory from the prior year, with revenue having risen from ₹1,032 crore in Q2 FY2026 to ₹1,082 crore in Q3 and ₹1,496 crore in Q4. The latest quarter is 7% lower than the Q4 peak.
Total expenses were ₹1,084 crore, a 97% increase from ₹551 crore a year ago. The growth rate far exceeded the revenue gain. Sequentially, expenses fell 32% from ₹1,603 crore in Q4 FY2026, when the company recorded a significant loss. Even after this decline, expenses in Q1 remained well above the levels seen in the first three quarters of the prior year.
Pre-tax profit was ₹345 crore, down 18% from ₹420 crore in Q1 FY2026. The decline reflects the faster rise in expenses and finance costs relative to revenue growth. Net profit for the period was ₹225 crore, nearly unchanged from ₹228 crore a year ago. The effective tax rate dropped from 37% to 25%, cushioning the impact of lower pre-tax earnings.
Finance costs rose 51% year-on-year to ₹326 crore, up from ₹216 crore in Q1 FY2026. Although costs fell 38% from the Q4 spike of ₹522 crore, they remain above the levels seen in the first three quarters of the prior year.
Basic and diluted earnings per share both came in at ₹0.57, compared to ₹0.58 in the same quarter last year. The marginal decline is consistent with the near-flat net profit and suggests no material change in the share count.
SJVN delivered strong top-line growth in Q1, but the benefit was largely absorbed by a faster increase in operating expenses and finance costs. Net profit held steady only because of a lower tax charge. The trajectory of operating expenses and finance costs remains central to the company’s earnings power.
Exchange disclosures and regulatory announcements for SJVN.
SJVN Limited informed exchanges that its wholly owned subsidiary, SJVN Thermal Private Limited, will achieve Commercial Operation of Unit-II (660 MW) of the 1,320 MW Buxar Thermal Power Project on September 12, 2026, at 00:00 HRS. The project, located in Chausa, Bihar, uses supercritical technology and will generate 9,828.72 Million Units annually, with 85% of power allocated to Bihar under a long-term PPA.
SJVN Limited's 38th Annual General Meeting held on August 31, 2026, resulted in the approval of all nine resolutions with requisite majorities. Key outcomes included the adoption of audited financial statements for the year ended March 31, 2026, declaration of final dividends for FY 2025-26, and the re-appointment of Ajay Kumar Sharma alongside the appointment of Parthajit De (Finance), Rajesh Kumar Chandel (Projects), Diwakar Nath Misra (Official Director), and Arti Kujur (Independent Director). The meeting also approved remuneration for Statutory Auditors and Cost Auditor for FY 2026-27, with voting scrutinized by Santosh Kumar Pradhan.
SJVN Limited held its 38th Annual General Meeting on August 31, 2026, where shareholders approved the appointment of Shri Parthajit De as Whole-Time Director (Finance), Shri Rajesh Kumar Chandel as Whole-Time Director (Projects), and Smt. Arti Kujur as Part-time Non-Official Independent Director. The meeting also ratified the final dividend of ₹0.35 per share for the financial year 2025-26, following an interim dividend of ₹1.15 per share declared in February 2026, and confirmed the re-appointment of retiring director Shri Ajay Kumar Sharma.
SJVN Limited received notices dated August 25, 2026, from BSE and NSE imposing fines of ₹13,44,020 each for non-compliance with SEBI Listing Regulations regarding board and committee composition due to a lack of independent directors. The company is a government entity where the President of India appoints directors; it is actively pursuing appointments with the Ministry of Power. The Ministry appointed Smt. Arti Kujur as an independent director effective July 17, 2026, after which the company became compliant with certain regulations and will seek a waiver of the fines.
SJVN Limited, through its wholly owned subsidiary SJVN Green Energy Limited (SGEL), achieved the Commercial Operation Date (COD) for its 75 MW Jamui Solar Power Project in Bihar on August 12, 2026. The project, developed at an estimated cost of ₹342 crore on 300 acres of purchased land, has a fixed power tariff of ₹2.96 per unit and is expected to generate approximately 90 million units in its first year while reducing carbon emissions by roughly 82,250 tonnes annually. Commissioned pursuant to a tender by the Bihar Renewable Energy Development Agency (BREDA), the facility creates 15–20 direct and 50–100 indirect employment opportunities.
Recent market and company developments associated with SJVN.
Analysts at HSBC believe ACME Solar is in a high growth phase adding significant capacity over the next two years; the brokerage maintains a 'Buy' rating on the stock.
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Climate change is making infrastructure in the Himalayas increasingly expensive to insure due to the rising incidents of flash floods, landslides, and glacial lake outburst floods.
Buxar Thermal Power Project at Chausa reaches full 1,320 MW as second 660 MW unit begins commercial operations; 85% power to Bihar under PPA.
SJVN says 660 MW Unit-II of Buxar Thermal Power Project in Chausa, Bihar, begins commercial supply Sept 12, 2026, bringing total capacity to 1,320 MW.
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Comprehensive Section Breakdown for SJVN
Strategic Vision: Generates and sells electricity from diverse sources.
• Operates as a joint venture between national and state governments.
• Categorized as a Mini Ratna, Category-I, and Schedule-‘A’ Central Public Sector Enterprise.
Category: Manufacturing
A foundational part of its generation capacity.
Category: Manufacturing
Includes projects in the wind energy sector.
Category: Manufacturing
The company is expanding its solar energy footprint with projects like the 1,000 MW Bikaner Solar Power Project.
Key Products & Services: SJVN Green Energy Ltd
Category: Manufacturing
Also forms part of its diversified power generation assets.
Category: B2B Services
Leverages expertise in the power sector to provide services to other entities.
Category: B2B Services
Engages in the trading of energy.
Core Thesis: Diversified power generation and related services leverage expertise across the energy sector.
• Diversified Generation Portfolio: Operates across hydroelectric, wind, solar, and thermal power generation to meet energy demands. • Renewable Energy Expansion: Actively developing and operating renewable energy projects through subsidiaries like SJVN Green Energy Ltd. • Ancillary Services: Provides consultancy services and engages in energy trading, leveraging its core competencies.