INVC,,
Delhi,,
Satluj Jal Vidyut Nigam Limited (SJVN), a CPSU under Ministry of Power, proposes to declare a dividend of Rs.0.60 per share amounting to Rs.248.20 crore in addition to Rs.0.19 per share already paid as interim dividend during the year 2009-10, thereby making the total dividend for the year 2009-10 to Rs.328.20 crore which works out to 7.95% of the paid up capital and 33.75% of profit after tax. The profit of the company after tax stood at Rs.972.74 crore for the financial year 2009-10. The dividend payout of Rs.328.20 crore (33.75% of PAT) is against Rs.320 crore (31.52% of PAT) during the last fiscal year.
The sales of the company has registered a growth of Rs.161 crore due to increase in AFC and incentives on account of increased production. However total income of the company during the year is marginally lower due to inclusion of prior period arrear billing including interest thereon in previous year sales amounting to Rs.271 crore on account of issuance of final tariff orders for the period 2004-09.
The country’s largest 1500 MW Nathpa Jhakri Hydro Power Station, had established a phenomenon 410 million units increase in generation during the FY 2009-10 at 7019 million units against 6609 million units achieved in 2008-09.
The Company which commenced full commercial generation in the year 2004-05 has accumulated reserves of Rs.2547 crore with consistent increase in generation and resultant profits year after year. During the last fiscal itself a sum of Rs.609.02 crore was added to the reserves.
SJVN came out with an IPO (Initial Public Offer) of 41.5 crore equity shares in April-May this year which was oversubscribed by over 6.6 times. The Company has been paying dividends consistently since its full year of generation. In the very first full year of its commercial generation the Company declared a dividend of Rs.143.16 crore which has increased to Rs.328.20 crore for the year 2009-10.
The company’s flagship unit, 1500 MW Nathpa Jhakri Hydor Power Station has established records in generation every year which are also benchmarks in the country’s hydro power sector. The steady increase in generation reached 7019 million units during the financial year 2009-10 from 5108 million units during 2004-05, and shows a remarkable 38% growth in generation without adding any new capacities.
SJVN is in the process of 4000 MW capacity addition from its 10 projects under various stages of construction and investigation. Its 412 MW Rampur Hydro Electric Project in Himachal Pradesh is scheduled for completion in the year 2013. SJVN has expanded its base from a single project and single state operation to multi project and multi state operations during these years. It is implementing three projects in Himachal Pradesh, three projects in Uttarakhand, on project in Manipur besides tow projects in neighbouring country Bhutan and one project in Nepal.
The Company has also entered the business of power transmission with the commencement of investigation for laying transmission lines for its upcoming 900 MW Arun-III project in Nepal. It also has plans of capacity addition in the fields of solar and wind power.
During the first quarter of 2010-11, the Company’s NJHPS has generated 2424.572 million units of electricity against the MoU target for 2233.346 million units which is about 192 million units more than the target.
