SJVN Limited Earnings Summary — Q4 FY2026
SJVN Reports Record Quarterly Sales Amidst Heavy Capex Stress and Net Loss
Key Takeaways
- Quarterly revenue reached a multi-year high of 1,496 Cr in Q4 FY2026, up nearly 200% year-on-year.
- The company reported a net loss of 118 Cr for the quarter, largely driven by a massive spike in interest costs (522 Cr) and depreciation (494 Cr).
- Operating margins (OPM) sit at 61%, an improvement from 48% in the prior year's fourth quarter but down from high-80s historical peaks.
- Interest expenses have ballooned to 1,298 Cr annually in FY2026, signaling the financial burden of aggressive project financing.
- Capital Work in Progress (CWIP) remains substantial at 19,143 Cr, though it has decreased from 26,414 Cr as projects transition to fixed assets.
- Total borrowings have surged to 32,278 Cr, up significantly from 27,025 Cr the previous year, highlighting the debt-heavy nature of current expansions.
Management Guidance
Management is maintaining an aggressive roadmap to achieve 25,000 MW capacity by 2030 and 50,000 MW by 2040, focusing on a mix of hydro and renewable energy.
Sentiment Shift
Deteriorating
Outlook
The company is in a massive capital expenditure cycle. While top-line growth is accelerating, the high interest burden and depreciation following project commissioning will likely weigh on net profitability in the near term.
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This summary is AI-generated from SJVN Limited's latest annual report and public disclosures. It is for informational purposes only and is not investment advice.