SJVN Share Price Today: Shares of SJVN on Thursday tumbled over 4 per cent after the state-run hydropower company posted weak set of numbers for the quarter and year ended March 31, 2024 (Q4 FY24). At the time of writing this report, at 3:20 PM, SJVN’s shares traded at Rs 133.25 on NSE, down 4.62 per cent against previous closing price.
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On Wednesday, the stock closed flat at Rs 139.65, with the company’s market capitalisation at Rs 54,879 crore. The earnings were posted after the market closed on the same day.
SJVN Q4 Results 2024
SJVN reported a profit of Rs 61.1 crore from in the January-March quarter, a big jump from previous year’s Rs 17.2 crore. This growth of over 255 per cent is mainly because the PSU got a tax credit of Rs 16 crore this quarter, while it had to pay almost Rs 40 crore in taxes last year.
However, the company’s revenue went down by 4.1 per cent to Rs 482.9 crore, compared to Rs 503.8 crore last year. Also, EBITDA declined by 22.1 per cent to Rs 239.7 crore. EBITDA margin also fell significantly, dropping to 49.6 per cent from 61.3 per cent last year.
However, the silver lining for SJVN has been the sales from their renewable energy, which reached Rs 106.8 crore in the quarter under review, up from Rs 68 crore in the same quarter last year.
SJVN Dividend 2024
Besides its financial results, SJVN announced a dividend of 65 paise per equity share, on top of an interim dividend of Rs 1.15 per share previously declared.
“Further, in terms of Regulation 30 of the Listing Regulations, we would like to inform that the Board of Directors in the aforesaid meeting have recommended a final dividend of ₹0.65/- per equity share for the Financial Year 2023-24 subject to the approval of shareholders in the ensuing Annual General Meeting.
The final dividend is in addition to the interim dividend of ₹1.15/- per equity share for the Financial Year 2023-24 declared in the month of February 2024 and will be paid within the statutory period as per the Companies Act, 2013,” the company’s stock exchange filing stated.
SJVN Share Technical Analysis
According to Mandar Bhojane, Equity Research Analyst at Choice Broking, SJVN is experiencing profit booking from higher levels. The stock has been forming new higher highs and higher lows, accompanied by significant volume, said Bhojane.
“Moreover, SJVN is trading above key Exponential Moving Averages (EMAs), including the 50-day, 100-day, and 200-day EMAs. This suggests strong bullish momentum, indicating potential continued upward price action. The Relative Strength Index (RSI) stands at 48.8, signaling an upward trajectory and confirming an increase in buying momentum,” Bhojane said.
SJVN Share Price Target 2024
The research analyst has set the target price for SJVN at Rs 180. On the downside, he said, support is near Rs 125. He recommended to apply a stop loss at Rs 125.
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From the current market price, this target represents a potential upside of up to 35 per cent.
