SJVN Limited has reshuffled its senior management team, promoting two officials to the position of Executive Directors while two others ceased their roles due to superannuation. The changes, which took effect on August 1, 2026, were disclosed in a filing with the National Stock Exchange of India Limited and BSE Limited. This restructuring marks a transition in leadership for the Navratna Central Public Sector Enterprise, ensuring continuity in its executive ranks as veteran officials retire.

The company informed the exchanges that Shri Vikas Sharma and Shri Manmeet Gupta have been promoted as Executive Directors. Their terms of appointment are co-terminus with the date of their superannuation or until further orders, whichever is earlier. Concurrently, Shri Baljeet Singh ceased to be part of the senior management on July 31, 2026, due to superannuation. Shri Rajesh Kumar Sharma also ceased his role as a senior manager upon superannuation, though a specific date was not provided in the filing.

Vikas Sharma brings over 30 years of experience in the power sector, with a focus on hydroelectric project development. He holds a Bachelor’s degree in Civil Engineering from Amravati University. Before joining SJVN Limited in December 2008 as Senior Manager (Survey & Investigation and Infrastructure), he worked with Impregilo SPA, Italy, L&T, Gammon, and SN Power Norway. His career highlights include executing tunnel re-mining at the Nathpa Jhakri HEP and achieving exceptional excavation rates at the Karahnjukar HEP in Iceland. At SJVN, he played a pivotal role in securing statutory clearances for the Luhri HEP and received the CMD Award in 2013-14 for his work on the Rampur HEP. He previously led the Buxar Thermal Power Plant as CEO and is currently heading the Sunni Dam HEP.

Manmeet Gupta joined SJVN Limited on September 13, 1993, and has served the company for thirty-three years. His tenure has included contributions to various functions such as the Contracts Department, Quality Control Department, and Commercial Disputes for Hydro, Wind, and Solar Projects. Gupta also handled Alternate Dispute Resolution and served in the Vigilance Department. Notably, he was deputed to the Royal Government of Bhutan for the Tala Hydroelectric Project and worked on the Nathpa Jhakri Hydro Power Station, Rampur HPS, and the Buxar Thermal Power Project in Bihar.

Management Changes Overview

The disclosure was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Soumendras Das, Company Secretary, signed the communication addressed to the stock exchanges. The company cited the SEBI Master Circular dated January 30, 2026, regarding compliance with listing obligations.

SJVN reported its Q1 consolidated financial results, presenting a mixed performance marked by strong revenue and EBITDA growth alongside a marginal year-on-year decline in net profit and a contraction in EBITDA margin. The company's top-line expansion was notable, even as profitability metrics reflected the impact of rising costs during the period.

Q1 Consolidated Financial Performance

The following table summarises SJVN's key consolidated financial metrics for Q1, compared on a year-on-year basis:

Revenue and EBITDA Record Year-on-Year Growth

SJVN's consolidated revenue for Q1 came in at ₹14B, a substantial increase from ₹9.2B reported in the corresponding quarter of the previous year. In line with revenue growth, EBITDA also improved to ₹8.84B from ₹7.42B on a year-on-year basis, reflecting stronger operational output during the period. However, the EBITDA margin contracted sharply to 63.40% from 80.90% in the same quarter last year, indicating that costs grew at a faster pace than revenues.

Net Profit Sees Marginal Decline

Despite robust revenue and EBITDA growth, SJVN's consolidated net profit for Q1 stood at ₹2.25B, compared to ₹2.28B in the same quarter last year. The marginal year-on-year dip in net profit, even as revenues and absolute EBITDA expanded considerably, points to higher costs impacting the bottom line during the quarter.

Key Highlights

• Consolidated Revenue: ₹14B (Q1 current) vs ₹9.2B (Q1 YoY) — significant year-on-year increase
• EBITDA: ₹8.84B (Q1 current) vs ₹7.42B (Q1 YoY) — year-on-year improvement
• EBITDA Margin: 63.40% (Q1 current) vs 80.90% (Q1 YoY) — notable contraction
• Consolidated Net Profit: ₹2.25B (Q1 current) vs ₹2.28B (Q1 YoY) — marginal decline