SJVN Limited’s Board of Directors convened on February 11, 2026, to approve the Unaudited Financial Results for the quarter and nine months ended December 31, 2025. Key outcomes included the declaration of an interim dividend of ₹1.15 per equity share for FY 2025-26, with a record date set for February 20, 2026. Furthermore, the board authorized fundraising up to ₹1,000 Crores through private placement of unsecured, non-convertible debentures.
SJVN Outcome of Board Meeting: Q3 FY2025-26 Results & Funding Approval
Financial Results Overview (Standalone)
The Board of Directors of SJVN Limited, in its meeting held on February 11, 2026, formally approved the Unaudited Standalone Financial Results for the quarter ending December 31, 2025. For the quarter ended Q3 FY2025-26, Total Income stood at ₹881.89 Crore, compared to ₹699.65 Crore in Q3 FY2024-25. Profit for the period was ₹251.71 Crore, against ₹139.25 Crore year-on-year. Basic & Diluted EPS (excluding regulatory deferral) for the quarter was ₹0.80.
For the nine months ended December 31, 2025, Total Income reached ₹2,821.96 Crore, with a Profit for the period totaling ₹882.50 Crore. Basic & Diluted EPS (excluding regulatory deferral) for the nine-month period was ₹2.40.
Interim Dividend Declaration
The Board has declared an interim dividend of ₹1.15 per equity share (on face value of ₹10/-) for the financial year 2025-26. The specified Record Date for the purpose of this dividend payment is February 20, 2026.
Fundraising Authorization
The Board approved the proposal for Raising of Funds up to ₹1,000 Crores. The funding will be secured through the issuance of unsecured, rated, taxable, redeemable, non-convertible, non-cumulative debentures on a private placement basis.
Key Disclosures and Auditor Review Notes
Standalone Highlights: Regulatory Matters
The auditor’s review report highlighted attention to the CERC notification regarding tariff determination for 2024-29, noting that billing continues provisionally based on tariffs applicable on March 31, 2024, except for Naitwar Mori Hydro Power Station (NMHPS). Revenue from hydro power recognized for the nine months ended December 31, 2025, was ₹2,544.73 crore.
Furthermore, revenue recognition included ₹173.95 crore related to earlier years, stemming from the tariff order for truing-up the period 2019-24 for Rampur Hydro Power Station.
The report also detailed the status of the Devasari Hydro Electric Project, which remains on hold, with an incurred expenditure of ₹251.28 crore up to December 31, 2025.
Consolidated Financial Summary
The Consolidated Statement reflected stronger performance. For the quarter ended December 31, 2025, the Total Income was ₹1,124.47 Crore, and Profit after tax was ₹224.31 Crore. Total Comprehensive Income for the quarter stood at ₹221.13 Crore, attributable to the owners of the Parent Company.
For the nine months ended December 31, 2025, Total Income reached ₹3,174.35 Crore, and Profit after tax reached ₹759.69 Crore. The consolidated results incorporate financial information from two reviewed subsidiaries and two non-reviewed subsidiaries, alongside the share of profit from one Joint Venture.
Security Cover Details
As required by Regulation 54, details concerning the Security Cover for Non-Convertible Debt Securities were attached as Annexure B. The auditor’s certificate confirmed that the compliance of all covenants/terms of the issue in respect of listed debt securities (NCD’s) has been met by SJVN Limited as of December 31, 2025.
Crucially, the auditor noted that since the securities issued are unsecured, no charge was created on any of the assets, rendering the security cover ratio not applicable.
Source: BSE
