SJVN Limited Reports 197% YoY Revenue Growth in Q4; Announces ₹1.50 Total Dividend for FY26 

Synopsis: SJVN Limited reported a strong rise in revenue during Q4 FY26, supported by higher power generation and improved operational performance. The company posted revenue from operations of Rs. 1,496.47 crore in Q4 FY26, registering a sharp growth of nearly 197% year-on-year compared to Rs. 504.40 crore reported in Q4 FY25. 

SJVN Limited is a leading public sector enterprise engaged in power generation and infrastructure development. The company primarily operates across hydroelectric, thermal, solar, and wind energy projects in India and neighboring countries. The company continues expanding its renewable energy portfolio while strengthening its transmission and power infrastructure business to support India’s rising electricity demand and clean energy transition. 

As of May 2026, SJVN Limited has a market capitalization of Rs. 30,326 crore. The stock is currently trading around Rs. 77.2 per share up by 0.60% compared to its previous close of Rs. 77, compared to its 52-week high of Rs. 108 and 52-week low of Rs. 63.0.  The company has a dividend yield of 1.89%, while ROCE and ROE stand at 4.91% and 5.81%, respectively. The stock trades at a P/E ratio of 48 times. 

SJVN reported revenue from operations of Rs. 1,496.47 crore in Q4 FY26 compared to Rs. 1,081.97 crore in Q3 FY26, reflecting a growth of around 38% quarter-on-quarter. On a year-on-year basis, revenue surged nearly 197% from Rs. 504.40 crore reported in Q4 FY25. 

The company’s total expenses increased significantly to Rs. 1,603.33 crore during Q4 FY26 from Rs. 705.25 crore in Q3 FY26. Finance costs also rose sharply to Rs. 522.14 crore compared to Rs. 244.65 crore in the previous quarter. Total income for the quarter stood at Rs. 1,548.46 crore compared to Rs. 1,124.47 crore in the previous quarter and Rs. 548.84 crore in the corresponding quarter last year. 

SJVN reported a loss before tax of Rs. 124.26 crore in Q4 FY26 compared to a profit before tax of Rs. 288.50 crore in Q3 FY26. The company ultimately reported a consolidated net loss of Rs. 117.84 crore during the quarter against a profit of Rs. 224.31 crore reported in the December 2025 quarter. 

The board of directors recommended a final dividend of Rs. 0.35 per equity share for FY2025-26, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The final dividend is in addition to the interim dividend of Rs. 1.15 per equity share already declared in February 2026 for the financial year. 

India’s power sector continues witnessing strong long-term growth driven by rising electricity demand, infrastructure expansion, and rapid renewable energy adoption. India currently has an installed power capacity of over 505 GW, while electricity demand is expected to grow at 6-6.5% annually over the next five years. 

The sector is also benefiting from large-scale investments and supportive government policies. India plans to invest nearly Rs. 9.15 lakh crore in power infrastructure by 2032, while renewable energy, transmission, and energy storage segments continue attracting significant investments. Increasing electrification and clean energy transition are expected to create long-term growth opportunities for power companies like SJVN. 

SJVN delivered strong revenue growth during Q4 FY26, supported by higher operational income and expanding power infrastructure activities. However, elevated expenses and finance costs impacted profitability during the quarter. Despite near-term pressure on earnings, the company remains strategically positioned to benefit from India’s long-term renewable energy and power infrastructure growth story. 

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