SJVN reported revenue of ₹10.32 billion (~$116.5 million) for the second quarter (Q2) of the financial year (FY) 2026, a 0.5% year-over-year (YoY) increase over ₹10.26 billion (~$115.8 million).

The company attributed the nearly flat revenue to, among other things, the closure of its Rampur and Nathpa Jhakri hydroelectric projects in Himachal Pradesh due to the floods in the state, which caused high silt levels in the water. This caused losses of ₹500 million (~$5.64 million) to ₹600 million (~$6.77 million).

The company was also affected by the end of the Minimum Alternate Tax, which ended after 10 years, resulting in higher tax expenses. SJVN also had increased finance costs of approximately ₹500 million (~$5.64 million) compared to the previous quarter.

Profit after tax (PAT) stood at ₹3.08 billion (~$34.73 million), decreasing 30% YoY from ₹4.4 billion (~$49.64 million).

The company’s earnings per share (EPS) in Q2 FY 2026 came in at ₹0.78 (~$0.009), compared to ₹1.12 (~$0.013) in Q2 FY 2025.

SJVN earned revenues of ₹9.08 billion (~$102.51 million) from its hydropower business, declining 4.7% YoY from ₹9.53 billion (~$107.6 million).

Revenues from the wind and solar business stood at ₹1.08 billion (~$12.26 million), rising 104.2% from ₹532 million (~$6 million) in Q2 FY 2025.

SJVN did not make any power sale during the quarter, compared to ₹184.6 million (~$2.08 million) in the same period of the previous year.

1H FY 2026

SJVN posted a revenue of ₹19.5 billion (~$220.02 million) in the first half (1H) of FY 2026, a 0.3% YoY increase from ₹19 billion (~$214.02 million).

PAT stood at ₹5.35 billion (~$60.41 million), decreasing 33% YoY from ₹8 billion (~$90 million).

The company’s EPS in 1H FY 2026 (including net movement in regulatory deferral account balance) came in at ₹1.36 (~$0.0153), compared to ₹2.03 (~$0.0229) in 1H FY 2025.

The company earned revenues of ₹17.09 billion (~$193 million) from its hydropower business, declining 2.2%  YoY from ₹17.5 billion (~$197.3 million).

Its revenues from the wind and solar business stood at ₹2.24 billion (~$25.3 million), rising 105.6% from ₹1.09 billion (~$12.3 million) in 1H FY 2025.

SJVN made power sales worth ₹7.8 million (~$88,017.93) during 1H, reducing 98% from ₹378.5 million (~$4.27 million) in the same period of the previous year.

Operational Highlights

During Q2 FY 2026, SJVN commenced construction of its 200 MW solar project, part of the Omkareshwar Solar Project Phase 17, located in the Khavda Solar Park, Gujarat. This project is expected to generate approximately 505 million units (MU) in its first year.

SJVN will supply the generated power to Gujarat Urja Vikas Nigam at a tariff of ₹2.88 (~$0.032)/kWh.

The company commissioned 680 MW of its 1,000 MW solar project in Bikaner, Rajasthan, in phases. It expects to have a total installed capacity of roughly 3,500 MW before the end of the year. In October, the project added 128.88 MW to its operational capacity.

The company said it has 13 operational projects with a cumulative capacity of 3,146 MW and two transmission lines. It is constructing four hydroelectric projects with a total capacity of 1,558 MW and 14 solar projects with a combined capacity of 2,213 MW.