Tag India Energy

SJVN Ltd
SJVN Ltd Q3 Results: Net Profit Up 7%, Revenue Growth & Interim Dividend Declared

Business and Industry Overview: 

SJVN Limited is a Nava Ratna, Category-I, and Schedule ‘A’ Central Public Sector Enterprise (CPSE) under the Ministry of Power, Government of India, incorporated on May 24, 1988, as a joint venture between the Government of India and the Government of Himachal Pradesh. The company has a shareholder pattern of 64.46% from the Government of India, 25.51% from the Government of Himachal Pradesh, and 10.03% from the public, with a paid-up capital of Rs. 4,136.63 Crore and an authorized capital of Rs. 7,000 Crore. SJVN was conferred with Navratna status on August 30, 2024. Initially starting with the Nathpa Jhakri Hydro Power Station (1500 MW) in Himachal Pradesh, SJVN has since commissioned a total of 14 projects, amounting to 2467 MW of installed capacity. The company is currently implementing power projects across various states in India, including Himachal Pradesh, Uttarakhand, Bihar, Maharashtra, Uttar Pradesh, Punjab, Gujarat, Arunachal Pradesh, Rajasthan, Assam, Odisha, Mizoram, and Madhya Pradesh, as well as in Nepal. A significant milestone includes the commissioning of the 400 kV double circuit Indo-Nepal Cross Border Power Transmission corridor on February 19, 2016, along with ongoing work on a 217 km long transmission line from Arun-3 HEP to the Indo-Nepal border. 

Latest Stock News: 

SJVN Ltd, a hydropower public sector unit, reported a 7% increase in consolidated net profit, reaching Rs 148.75 crore for the December quarter. This rise is attributed to higher revenues, as the company posted a net profit of Rs 138.97 crore during the same period last year, according to a filing with the Bombay Stock Exchange (BSE).  

Total income for the quarter rose to Rs 760.76 crore, up from Rs 607.72 crore in the previous year.  

The board of directors has also approved an interim dividend of Rs 1.15 per equity share for the 2024-25 financial year. The record date for the interim dividend is February 21, 2025, and dividend payments will commence from March 6, 2025, onwards. 

Currently, the company’s shares are trading 2.60% lower at Rs 90.22, with a dividend yield of 1.99%. 

Segmental information:

1. Electricity Generation: 

Hydroelectric Power: SJVN’s core competency lies in hydroelectric power generation. The company operates significant projects, including the 1,500 MW Nathpa Jhakri Hydro Power Station and the 412 MW Rampur Hydro Power Station, both located in Himachal Pradesh. These facilities harness river water to produce renewable energy. citeturn0search12 

Wind Power: Expanding into wind energy, SJVN has commissioned projects like the 47.6 MW Khirvire Wind Power Project in Maharashtra and the 50 MW Sadla Wind Power Project in Gujarat. These installations utilize wind resources to generate electricity. citeturn0search0 

Solar Power: SJVN has ventured into solar energy with projects such as the 75 MW Parasan Solar Power Project in Uttar Pradesh and the 5.6 MW Charanka Solar Power Project in Gujarat. These solar installations contribute to the company’s renewable energy portfolio. citeturn0search12 

2. Consultancy Services: Leveraging its expertise in power generation, SJVN offers consultancy services encompassing project planning, feasibility studies, engineering, procurement, construction management, and operational support. These services cater to other entities in the power sector, facilitating the development of energy projects.  

3. Power Transmission: SJVN is involved in the transmission of electricity, ensuring efficient delivery from generation sites to distribution networks. This includes the construction, operation, and maintenance of transmission lines and substations, playing a crucial role in the power supply chain. citeturn0search1 

4. Power Trading:To optimize its energy portfolio, SJVN engages in power trading activities. This involves the buying and selling of electricity, allowing the company to respond to market dynamics, balance supply and demand, and enhance revenue generation. citeturn0search1 

5. Project Development and Execution: Beyond operating existing facilities, SJVN is actively involved in developing new power projects. This includes identifying potential sites, securing necessary approvals, and overseeing the construction and commissioning of new power plants across various energy sectors.  

Subsidiary Information:

SJVN Arun-3 Power Development Company Pvt. Ltd. (SAPDC) : A wholly owned subsidiary established in Nepal for the implementation of the 900 MW Arun-3 Project and its associated transmission system. 

SJVN Lower Arun Power Development Company Private Limited (SLPDC) : A fully owned subsidiary created for the development of the 669 MW Lower Arun Hydro Electric Project (HEP) in Nepal. 

 SJVN Thermal Private Limited (STPL) : A wholly owned subsidiary formed for the execution of the 1320 MW Buxar Thermal Power Project in Bihar. 

SJVN Green Energy Limited (SGEL) : A fully owned subsidiary established to focus on capacity additions in new and renewable energy sources. 

Joint Ventures  

Cross Border Power Transmission Company Limited (CPTC) : A joint venture among IEDCL, Power Grid, SJVN, and NEA with equity participation of 38%, 26%, 26%, and 10%, respectively. This venture aims to construct and maintain an 86 km long, 400 kV double circuit (D/C) transmission line from Sursund on the India-Nepal border to Muzaffarpur. 

Q3 Highlights:

  • SJVN Ltd Q3 results: Net profit rises by 7% to Rs 149 crore on higher revenue 
  • The board of directors has also approved an interim dividend of Rs 1.15 per equity share for 2024-25. 
  • SJVN Ltd Q3 results Net profit rises by 7 to Rs 149 crore on higher revenue 
  • The board of directors approved an interim dividend of Rs 1.15 per equity share for the 2024-25 financial year. 

Financial Summary:

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 543.00 671.00 2,938 2,579 
Expenses 175 214 665 737 
EBITDA 368 457 2,273.00 1,843.00 
OPM 68% 68% 77% 71% 
Other Income 49 91 310 380 
Net Profit 139.00 149.00 1,359 911 
NPM 25.60 22.21 46.26 35.32 
EPS 0.35 0.38 3.46 2.32 
Adani Power Ltd & Adani Energy Solutions Q3 FY25 Results
Adani Power Ltd & Adani Energy Solutions Q3 FY25 Results: Robust Profit and Strategic Expansion in India’s Energy Sector

Adani Power Ltd: Overview 

Adani Power Ltd. (APL), a subsidiary of the Adani Group, is one of India’s largest private-sector power producers, focusing on thermal power generation. Established in 1996, the company has grown rapidly, playing a crucial role in meeting India’s increasing electricity demand. It operates a diversified portfolio of coal-based power plants across multiple states, contributing significantly to the country’s energy security. With a total installed capacity of over 15 GW, Adani Power is a key player in India’s electricity sector, supplying power to both state utilities and industrial consumers through long-term Power Purchase Agreements (PPAs) and merchant power sales. The company has also expanded its global footprint, acquiring power assets in countries like Bangladesh and Sri Lanka. India’s power sector is one of the largest in the world, driven by rising electricity consumption, rapid urbanization, and industrialization. The government’s focus on ensuring 24/7 power supply and its ambitious renewable energy targets are shaping the future of the industry. While renewable energy is gaining momentum, thermal power (primarily coal-based) still accounts for over 55% of India’s total electricity generation. Given the country’s vast coal reserves and the need for stable base-load power, coal-fired power plants remain a critical part of the energy mix. However, the sector faces challenges such as coal supply constraints, regulatory changes, and increasing pressure to reduce carbon emissions. 

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Adani Power’s revenue growth remained aligned with volume expansion but was moderated by lower average tariff realization, driven by a decline in import fuel prices and lower merchant tariffs. India is expected to add 80 GW of additional coal-based power capacity by FY 2031-32 to meet the accelerating demand, with 49 GW of this capacity still untapped, presenting significant growth opportunities. APL achieved more than 100% fly ash utilization for Q3 FY25 across almost its entire fleet. Adani Power has identified a 12.52 GW development pipeline to capitalize on this potential. NCLT (Ahmedabad) sanctioned the Scheme of Amalgamation of SMRPL, a wholly owned subsidiary of AEL, with MEL, a subsidiary of APL, vide its order dated 7 th November 2024. Operationally, the Dahanu, Godda, Mahan, and Udupi plants achieved 100% availability in October 2024, while Kawai and Udupi reached the same milestone in December 2024. The company has also made significant progress in reducing its senior term debt through a combination of prepayments and scheduled repayments, despite ongoing acquisitions and organic expansion. Additionally, Adani Power signed a long-term Power Purchase Agreement (PPA) with Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the procurement of 1,496 MW (net) of thermal power during the quarter. 

Q3 FY25 Earnings 

  • Revenue of ₹13671 crore in Q3 FY25 up by 5.23% YoY from ₹12991 crore in Q3 FY24.  
  • EBITDA of ₹5023 crore in this quarter at a margin of 37% compared to 36% in Q3 FY24. 
  • Profit of ₹2940 crore in this quarter compared to a ₹2738 crore profit in Q3 FY24. 

Adani Energy Solutions Ltd: Overview 

Adani Energy Solutions Ltd is a prominent player in the energy sector, focusing on the generation, distribution, and transmission of electricity. A part of the Adani Group, the company operates across multiple energy segments, including renewable and conventional energy generation, power transmission, and distribution services. With a strong emphasis on sustainability, Adani Energy has invested significantly in renewable energy projects, particularly in solar and wind power, aiming to contribute to India’s growing clean energy needs. The company’s renewable energy capacity is steadily expanding, making it one of the largest green energy companies in the country. Additionally, Adani Energy is involved in power distribution, particularly in the states of Gujarat, Maharashtra, and Chhattisgarh, where it serves both residential and industrial consumers. The industry outlook for the energy sector, especially in India, remains positive, driven by increasing energy demand, a shift towards renewable energy, and government support through various policies and initiatives. India’s commitment to achieving net-zero carbon emissions by 2070 has accelerated the growth of renewable energy investments, with significant capacity additions expected in the coming years. The country is on track to increase its renewable energy capacity to 500 GW by 2030, with solar and wind power playing pivotal roles in achieving this target. 

Latest Stock News 

EBITDA for the quarter grew by 6%, reaching Rs 1,831 crore, driven by strong revenue growth, EPC income from transmission, treasury income, and stable regulated EBITDA from AEML. The company secured two new transmission projects – Khavda Phase IV Part-D and Rajasthan Phase III Part I (Bhadla – Fatehpur HVDC), adding 3,044 ckm to its under-construction network. With five new projects won this year, the under-construction transmission pipeline has surged to approximately Rs 54,761 crore in Q3FY25, up from Rs 17,000 crore. AESL significantly increases its capex ramp-up driven by unparalleled project and operating excellence coupled with robust capital management program. The capital expenditure (capex) for 9MFY25 rose to Rs 7,475 crore, compared to Rs 3,784 crore in the same period last year. The company is progressing well with a robust under-construction project pipeline, which includes 13 projects worth Rs 54,761 crore. The under implementation pipeline stands at 22.8 million smart meters, comprising nine projects with a revenue potential of over Rs 27,195 crore. The deployment of smart meters is also on track, with an average run-rate of 15,000 meters per day, expected to increase to 20,000 meters per day by the next quarter. In Q3FY25, the capex amounted to Rs 3,074 crore, which is three times higher than the Rs 1,162 crore spent in Q3FY24. 

Q3 FY25 Earnings 

  • Revenue of ₹5830 crore in Q3 FY25 down by 27.8% YoY from ₹4563 crore in Q3 FY24.  
  • EBITDA of ₹1661 crore in this quarter at a margin of 28% compared to 32% in Q3 FY24. 
  • Profit of ₹625 crore in this quarter compared to a ₹348 crore profit in Q3 FY24. 
Coal India Q3 Results
Coal India Q3 Results: Net Profit Declines 17% to ₹8,491 Crore, Announces 2nd Interim Dividend

Coal India Ltd: Overview

Coal India Ltd (CIL), a Maharatna company, is the world’s largest coal producer and a major player in India’s energy ecosystem. Established in 1975 and headquartered in Kolkata, CIL operates under the Ministry of Coal, Government of India. It plays a pivotal role in meeting India’s energy demands, supplying over 80% of the country’s coal requirements. CIL’s operations span coal mining, production, and supply to diverse sectors such as power, steel, cement, and fertilizers. 

India’s coal sector is critical for supporting its growing economy, as coal remains the primary source of energy generation, contributing nearly 60% to the country’s electricity production. However, the industry is also undergoing a transformation, driven by increasing environmental concerns, the shift towards renewable energy, and technological advancements to improve efficiency and reduce emissions. Despite these challenges, CIL remains central to India’s energy security strategy, catering to the ever-growing demand for coal with consistent production growth and operational improvements. 

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Coal India declares a 2nd interim dividend of ₹5.6 per share. In November 2024, Coal India Limited (CIL) took a major step toward sustainability by commissioning a 50 MW solar power plant, its largest to date, at Northern Coalfields Limited (NCL) in Nigahi. A few weeks later, on December 2, 2024, CIL signed an MoU with Bharat Petroleum Corporation Limited (BPCL) to explore a ground breaking Coal-to-Synthetic Natural Gas project at Western Coalfields Limited (WCL) using surface coal gasification technology. The Ministry of Coal further bolstered these efforts by approving a financial incentive of ₹1,350 crore for each of three coal gasification projects. 

CIL also collaborated with IREL (India) Ltd through a MoU signed on January 6, 2025, to jointly develop critical mineral assets. Meanwhile, Mahanadi Coalfields Limited (MCL) recorded its first-ever income of ₹241 crore from the Basundhara rail line during the first nine months of FY 2024-25. Operationally, the company achieved a notable reduction of ₹365 crore in explosive expenses, although repair and maintenance costs rose by ₹89 crore. However, challenges persisted. Bharat Coking Coal Limited (BCCL) grappled with land issues and fires in overburden (OB) and coal benches. At the same time, excessive rainfall, nearly double that of the previous fiscal year, significantly impacted operations at NCL. 

Business Segments

  • Coal Mining and Production: CIL operates over 352 mines, categorized into underground, opencast, and mixed mines. The company’s production volumes stood at 703.2 million tonnes (MT) in FY23, a 12% year-on-year growth, with plans to achieve 1 billion tonnes of annual production by FY26. This aligns with India’s goal of reducing coal imports and boosting domestic supply. 
  • Coal Supply and Distribution: Coal India ensures reliable and efficient coal delivery through its robust distribution network, which includes rail, road, and dedicated freight corridors. The e-auctions play an important role here. Power utilities remain the largest consumers, accounting for approximately 80% of CIL’s total coal sales. The company also caters to non-power sectors like cement, steel, and chemicals. 
  • Coal Beneficiation: To address the growing demand for higher-grade coal and reduce the ash content, CIL operates 15 coal washeries (11 coking and 4 non-coking). These washeries play a vital role in improving the quality of coal supplied to industrial users, particularly in the steel sector. CIL is planning to expand its coal beneficiation capacity in the coming years to meet evolving market needs. 
  • Renewable Energy Initiatives: In line with India’s renewable energy goals, CIL is diversifying into solar and wind energy. The company has already set up solar projects at various locations and plans to invest ₹5,650 crore to develop 3 GW of renewable energy capacity by FY27. These initiatives align with CIL’s long-term sustainability strategy and the government’s focus on reducing carbon emissions. 

Subsidiary Information

  • Mahanadi Coalfields Limited (MCL): Mahanadi Coalfields Limited (MCL), established in 1992 and headquartered in Sambalpur, Odisha, is one of Coal India Ltd’s largest and most productive subsidiaries. Operating across Odisha, MCL plays a crucial role in India’s energy sector, contributing over 190 million tonnes (MT) of coal production in FY23. The company primarily caters to the power, steel, and cement industries, with a focus on large-scale opencast mining projects. MCL emphasizes sustainability and technological advancements to maintain operational excellence. 
  • Northern Coalfields Limited (NCL): Northern Coalfields Limited (NCL), established in 1986, is headquartered in Singrauli, Madhya Pradesh. NCL operates primarily in Madhya Pradesh and Uttar Pradesh, focusing on opencast mining to meet regional power demands. It produced over 122 MT of coal in FY23, making it a significant contributor to Coal India Ltd’s output. NCL is a key supplier to major clients like NTPC and has built a reputation for its highly mechanized operations. The company also prioritizes environmental management and community development, aligning with its commitment to sustainable mining practices. 
  • South Eastern Coalfields Limited (SECL): South Eastern Coalfields Limited (SECL), founded in 1985, is headquartered in Bilaspur, Chhattisgarh. It is Coal India Ltd’s largest subsidiary in terms of geographical area, operating across Chhattisgarh and Madhya Pradesh. SECL specializes in both opencast and underground mining and recorded a production of approximately 162 MT in FY23. It is a major coal supplier for the power, steel, and cement industries. SECL is actively involved in enhancing coal evacuation infrastructure and adopting eco-friendly mining techniques, further cementing its leadership in India’s coal sector. 
  • Western Coalfields Limited (WCL): Western Coalfields Limited (WCL), established in 1975 and headquartered in Nagpur, Maharashtra, operates across Maharashtra and Madhya Pradesh. WCL specializes in both opencast and underground mining, producing around 57 MT of coal in FY23. The subsidiary plays a vital role in meeting the energy demands of western India, supplying coal to thermal power plants and other industries. WCL is also dedicated to environmental conservation through initiatives like afforestation and reclaiming mined-out areas. Its focus on sustainable mining ensures long-term regional energy security. 
  • Central Coalfields Limited (CCL): Central Coalfields Limited (CCL), founded in 1975 and headquartered in Ranchi, Jharkhand, operates extensively in the coal-rich regions of Jharkhand. CCL produced approximately 74 MT of coal in FY23, serving power, steel, and cement sectors across the country. With a mix of opencast and underground mines, the subsidiary focuses on modernizing its operations through the adoption of advanced technologies. CCL is also developing coal washeries to supply cleaner coal, aligning with its commitment to environmental sustainability and meeting the rising demand for high-quality coal. 

Q3 FY25 Earnings 

  • Revenue of ₹35780 crore in Q3 FY25 down by 1.03% YoY from ₹36154 crore in Q3 FY24.  
  • EBITDA of ₹12317 crore in this quarter at a margin of 34% compared to 36% in Q3 FY24. 
  • Profit of ₹8491 crore in this quarter compared to a ₹10292 crore profit in Q3 FY24. 

Financial Summary 

Amount in ₹ Cr Q3 FY24 Q3 FY25 FY23 FY24 
Revenue 36154 35780 138252 142324 
Expenses 23183 23463 94020 94352 
EBITDA 12971 12317 44232 47971 
OPM 36% 34% 32% 34% 
Other Income 2489 2214 6560 8396 
Net Profit 10292 8491 31723 37396 
NPM 28.6% 23.7% 22.9% 26.3% 
EPS 16.6 13.8 51.5 60.7 
Oil India Q2 Results
Oil India Q2 Results: Net Profit Surges to ₹2,016 Crore, Marking Multi-Fold Growth

Company Overview

Oil India Ltd. (OIL) is one of the largest national oil and gas companies in India, primarily engaged in the exploration, development, and production of crude oil, natural gas, and liquefied petroleum gas (LPG). Founded in 1959 and headquartered in Duliajan, Assam, the company plays a crucial role in securing India’s energy needs through its significant contributions to domestic oil and gas production. It operates under the Ministry of Petroleum and Natural Gas and has international interests as well. OIL operates a large network of pipelines, including a 1,157-km trunk pipeline in the North East, which transports crude oil from Assam to various refineries. The company has reserves and production blocks across India, as well as strategic international assets in locations like Russia, Mozambique, and the United States.

Industry Outlook

The Indian oil and gas industry is poised for robust growth, fuelled by rising energy demands, government initiatives for energy security, and ongoing reforms aimed at modernising the sector. With India being one of the largest consumers of oil globally, the industry is a critical part of the country’s energy landscape. The country’s oil demand is projected to double by 2040, and natural gas demand is expected to grow by 4-5% annually over the next decade. The government’s target to reduce oil import dependence by 10% by 2022 and achieve 15% natural gas share in the energy mix by 2030 underscores the importance of boosting domestic production.

Business Mix

  • Crude Oil: The company has continued to improve its crude oil production, which is higher by 4.79% in quarter ended 30 September 2024, at 0.875 MMT from 0.835 MMT in the quarter ended 30 September 2023. Crude oil production has increased by 5.5% in half year ended 30 2024 at 1.746 MMT from 1.655 MMT in the half year ended 2023.
  • Natural Gas: The sale of natural gas during FY 2023-24 was 2521 MMSCM as compared to 2507 MMSCM during the previous year. The nation’s commitment is to increase the share of natural gas in the energy basket from the current level of 6% to 15% by 2030.
  • LPG: LPG Filling Plant was in operation for 292 days. Revenue earned by selling LPG during FY 2023-24 was ₹ 170.40 crores. Net realisation of condensate was ₹ 34.13 crores in the FY 2023–24 as against ` 52.15 crore in the previous year.
  • Pipeline: The crude oil pipeline transported 6.74 MMT of crude oil as against 6.79 MMT in the previous year. The company operates a total network of 1,243 km of crude oil pipeline.

Quarterly Highlights

  • Revenue of ₹7247 crore in Q2 FY25 is down by 3.33% YoY from ₹7497 crore in Q2 FY24.
  • EBITDA of ₹2536 crore in this quarter at a margin of 35% compared to 46% in Q2 FY24.
  • Profit of ₹2069 crore in this quarter compared to₹640 crore in Q2 FY24.

Business Highlights

  • Average crude oil price realization for Q2 FY25 is $79.33 per barrel and $86.86 per barrel for Q2 FY24, decreased by 8.67%.
  • Out of ₹28,000 crore capex, ₹1400 crore is for E&P business, and NRL has debt of ₹11,500 crore.
  • For City Gas Distribution (CGD) bids won for 9 areas and functioning are Kolhapur, Ambala, and Kurukshetra.
  • From April 2025, we will be getting a $0.25 premium over. So it would be averaging $6.75 this coming April.
  • Phase 1 for DNPL is adding 55 kilometres of new capacity, and after achieving it, Phase 2 will begin.

SWOT Analysis

Strengths:

  1. Extensive Domestic Market Presence
  2. Strong Government Backing
  3. Well-Established Pipeline Infrastructure

Weaknesses:

  1. Heavy Reliance on Crude Oil Prices
  2. Outdated Infrastructure in Key Areas
  3. High Operational Costs

Opportunities:

  1. Rising Demand for Natural Gas
  2. Expansions in Renewable Energy Initiatives
  3. Supportive Government Policies
  4. Potential for Strategic International Partnerships

Threats:

  1. Increasing Environmental and Regulatory Scrutiny
  2. Heightened Market Competition
  3. Risks from Geopolitical Uncertainty