Q3 2024 SJVN Ltd Earnings Call Transcript
Key Points
- SJVN Ltd (BOM:533206) has increased its installed capacity to 2,227 megawatts with the addition of two new projects.
- The company has commissioned the 175 megawatt Gurhah solar project and the 60 megawatt Naitwar Mori hydro project, adding approximately INR270 crore to annual revenue.
- SJVN Ltd (BOM:533206) is set to add 240 megawatts of renewable energy projects in the upcoming quarter.
- The Government of India has approved the formation of two joint ventures for renewable energy projects in Assam and Maharashtra.
- SJVN Ltd (BOM:533206) has secured a INR10,000 crore construction finance facility for its upcoming renewable energy projects from leading financial institutions.
- Generation from the main two hydro projects decreased by 13.36% and 12.79% due to low precipitation in the catchment areas.
- Revenue from operations decreased by 2.7% over the same period last year due to lesser generation from hydro projects.
- Profit after tax decreased by INR155.64 crores compared to the third quarter of the previous year.
- The company faces challenges with the HP water cess issue, which is currently subjudice in the High Court of HP.
- There is a delay in the commissioning of the Arun 3 project, now expected by February 2025, and the Buxar project, with the first unit expected by June 2024.
Ladies and gentlemen, good day, and welcome to the Q3 FY24 earnings conference call of SJVN Limited hosted by Elara Securities Private Limited. As a reminder, all participant lines will be in the listen-only mode. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Rupesh Sankhe from Elara Securities. Thank you and over to you.
Yeah, good afternoon, everyone. On behalf of Elara Securities, we welcome you all for the Q3 FY24 conference call of SJVN. I take this opportunity to welcome the management of SJVN, represented by Geeta Kapur Madam. She has taken additional charge for Chairman and Managing Director, she is also Director of Personnel and Mr. AK Singh, Director Finance.
So we will begin the call with a brief overview by the management, followed by a Q&A session. I will now hand over the call to Geeta Madam for opening remarks. Over to you, Madam.
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