Investor Presentaiton

4 fundamental ANALYSIS SJVN Ltd 20+ HDFC securities Click. Invest. Grow. YEARS Project updates: Capital expenditure in Q1FY23 was Rs. 1,990 (up 320% YoY) against Rs. 662 cr in Q1FY22. SJVN awarded an EPC contract of 1000 MW solar project in Bikaner to Tata Power Solar Systems Ltd for a total value of Rs. 5,491 cr. The company also awarded the Gurhah and Gujrai solar power projects during the quarter. In Nepal, MOU has been signed for development of 490 MW Arun-4 through JV. SJVN also bagged the 90 MW full floating solar power project in Omkareshwar Reservoir in Madhya Pradesh and PPA was signed for the same. Key Triggers: Upcoming capacity to lead to higher earnings Additional capacity of 3415 MW is expected to be added by FY25E, an increase of ~160% from the existing capacity, providing a huge impetus to revenue. The key projects are the Buxar Thermal Power Plant in Bihar and the Arun-3 HEP in Nepal. Status of 1320 MW Buxar thermal power plant SJVN is expecting to commission one unit (660 MW) of the super critical thermal power plant in June 2023 and the second unit in January 2024. Rs. 5,768 Cr has been incurred on the project out of the total anticipated cost of Rs. 10,439 Cr as of July 31, 2022 (55%). Work for power evacuation through 4 transmission lines has commenced after receiving the grant of connectivity for power transmission in March 2022. Power Purchase Agreement (PPA) has been signed with Bihar State Power Holding Company Limited (BSPHCL) for 85% share of power. Fuel supply has also been secured with CCL for supply of the full quantum of 4.976 MTPA of coal requirement of the station at the price notified by Coal India Limited (CIL). The project has faced some law and order problem from the locals; however, now it is on track. Cost of power is expected to be competitive due to proximity of coalmines and hence higher-ranking order in the merit order of state discom leading to full scheduling of power from the plant. Status of Arun-3 HEP Arun-3 hydroelectric project is a 900 MW project located on the Arun River in Nepal. The project is a run-of-the-river scheme designed to generate 3924 MUs energy annually. The project is allocated to SJVN on Build Own Operate and Transfer (BOOT) basis, to be operated for 25 years after commissioning. Civil works were impacted because of heavy rains and flash floods in February and March 2022, which impacted the dam concreting, powerhouse and head race tunnel (HRT). 8.7 kms HRT has been excavated out of the total 11.8 kms. Geological issues have slowed down the pace of HRT works. Procurement/fabrication of different components for Hydro mechanical and Electro mechanical works is in advanced stage. Challenges are also being faced on the transmission front. The project is expected to be commissioned by December 2023. MOU has also been signed with PTC India for sale of hydropower from this project to RETAILRESEARCH FRE

View entire presentation