SJVNL declares highest ever dividend of Rs 328 cr

Reveals plans to enter solar,wind energy sectors
Satluj Jal Vidyut Nigam Ltd (SJVNL),a Central government PSU operating the 1500 megawatt Nathpa Jhakri Hydropower Project (NJHP) in Himachal,the largest in the country,has declared a dividend of Rs 328.20 crore for financial year 2009-2010. The latest dividend is Rs 8.20 crore more than that of 2008-09. “Dividend declared is 33.75 per cent of the overall profit made by the company,the highest ever,” said Chairman and Managing Director of the SJVNL H K Sharma while talking to mediapersons in Shimla. The divided was decided by the shareholders during the annual general meeting held in Shimla on September 15. The AGM approved a dividend of Rs 0.80 per share,he said. The SJVNL had issued an initial public offer (IPO) of Rs 41.5 crore equity shares in April-May 2010,which was oversubscribed by 6.6 times. For 2009-10 net profit of SJVNL was Rs 972.74 crore as compared to Rs 1015.32 crore for 2008-09.

“Though sales of the company had registered a growth of Rs 161 crore on account of increased production,total income of the company for the period was marginally lower due to inclusion of prior period arrear billing including interest thereon. However,during the first quarter of current financial year the SJVNL has recorded 7 per cent growth in net sales,” said the CMD.

Power generation in Nathpa Jhakri project remained shut for nearly 22 days this year between July 19 to August 22 due to heavy silt content in the Satluj following heavy rains. There was a loss of 500 million units (MU) of electricity,which would be covered up easily,claimed the company.

Sharma also revealed plans of the company to step into solar and wind energy sector. Commissioning of 412 MW Rampur project of the company has been delayed by 18 months and is now rescheduled to September 2013. Forest and environment clearance for Luhri (775 MW) is awaited and for the Dhaulasidh (66 MW) DPR has been submitted. The company is executing three projects Devsari (252 MW),Naitwar Mori (60MW) and Jakhol Sankri (51MW) in Uttrakahand and at the legal agreement stage for the 900MW Arun III project in Nepal.