News Earnings SJVN Limited Reports Q3 FY26 Results and Issues TDS Guidelines for ₹1.15 DividendSJVN Limited Reports Q3 FY26 Results and Issues TDS Guidelines for ₹1.15 Dividend
SJVN Limited announced robust Q3 FY26 financial performance with significant revenue and profit growth across standalone and consolidated operations. The company declared interim dividend of ₹1.15 per share and subsequently issued comprehensive tax deduction guidelines for shareholders, outlining specific TDS rates and documentation requirements with February 22, 2026 submission deadline.
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SJVN Limited announced its financial results for the quarter ended December 31, 2025, along with key corporate decisions including interim dividend declaration and fund raising approvals. The Board of Directors meeting held on February 11, 2026, approved multiple significant resolutions under SEBI Listing Regulations.
Financial Performance Overview
The company delivered strong financial performance in Q3 FY26 across both standalone and consolidated operations. Key financial metrics demonstrate robust operational efficiency and profitability improvements.
| Financial Metric: | Q3 FY26 | Q3 FY25 | Change |
|---|---|---|---|
| Standalone Results | |||
| Revenue from Operations | ₹846.13 crore | ₹625.02 crore | +35.37% |
| Net Profit | ₹251.71 crore | ₹139.25 crore | +80.73% |
| Consolidated Results | |||
| Revenue from Operations | ₹1,081.97 crore | ₹670.99 crore | +61.26% |
| Net Profit | ₹224.31 crore | ₹148.75 crore | +50.78% |
Nine Months Performance
For the nine months ended December 31, 2025, SJVN demonstrated consistent growth momentum with substantial revenue increases and maintained profitability.
| Parameter: | Nine Months FY26 | Nine Months FY25 | Growth |
|---|---|---|---|
| Standalone Revenue | ₹2,610.60 crore | ₹2,451.26 crore | +6.50% |
| Standalone Net Profit | ₹882.50 crore | ₹939.46 crore | -6.06% |
| Consolidated Revenue | ₹3,031.82 crore | ₹2,567.61 crore | +18.08% |
| Consolidated Net Profit | ₹759.69 crore | ₹945.74 crore | -19.67% |
Corporate Actions and Fund Raising
The Board of Directors approved several important corporate decisions during the meeting. The company declared an interim dividend of ₹1.15 per equity share for the financial year 2025-26, with the record date fixed as February 20, 2026. The dividend will be paid within the statutory period as prescribed under the Companies Act, 2013.
Additionally, the board approved raising funds up to ₹1,000 crore through issuance of unsecured, rated, taxable, redeemable, non-convertible, non-cumulative debentures on private placement basis. This fund raising initiative will support the company's expansion and operational requirements.
Tax Deduction Guidelines for Interim Dividend
On February 17, 2026, SJVN issued detailed communication regarding tax deduction at source (TDS) provisions for the interim dividend payment. The company outlined specific TDS rates and documentation requirements for different categories of shareholders under the Income Tax Act, 1961.
| Shareholder Category: | TDS Rate | Documentation Required |
|---|---|---|
| Individual (dividend ≤ ₹10,000) | NIL | - |
| Resident with PAN | 10% | Valid PAN details |
| Resident without PAN | 20% | - |
| Non-resident shareholders | 20% or DTAA rate | TRC, Form 10F, PAN |
| Insurance companies | NIL | IRDAI registration certificate |
Shareholders must submit required documents by February 22, 2026, to avail appropriate TDS rates. The company emphasized that no communications regarding TDS will be accepted after 5:00 PM on the deadline date.
Revenue Composition and Operations
SJVN's revenue streams include hydro power generation, renewable energy, and power trading activities. For Q3 FY26, hydro power contributed ₹835.24 crore to standalone revenue, while renewable energy (wind and solar) added ₹6.28 crore. The company received ₹173.95 crore relating to earlier years from tariff order truing-up for the period 2019-24 in respect of Rampur Hydro Power Station.
Key Financial Ratios
The company maintained healthy financial ratios demonstrating strong operational performance and financial stability.
| Ratio: | Q3 FY26 | Q3 FY25 |
|---|---|---|
| Earnings Per Share (Standalone) | ₹0.64 | ₹0.35 |
| Operating Margin (Standalone) | 71.04% | 54.01% |
| Net Profit Margin (Standalone) | 29.75% | 22.28% |
| Debt Equity Ratio (Standalone) | 0.69 | 0.71 |
Project Developments
During the quarter, SJVN Green Energy Limited achieved commercial operation in phases for the 1,000 MW Bikaner Solar Power Project, contributing ₹62.42 crore to consolidated revenue. The group also commissioned one unit of 660 MW out of two units aggregating 1,320 MW of the Buxar Thermal Power Project, with ₹124.75 crore provisionally recognised as unbilled revenue.
The Devasari Hydro Electric Project remains on hold pursuant to Ministry of Power directions, with the matter scheduled for Supreme Court hearing on May 20, 2026. The company has incurred ₹251.28 crore on this project up to December 31, 2025.
Historical Stock Returns for SJVN
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.85% | -5.56% | -4.55% | -25.57% | -21.13% | +156.87% |
