SJVN Q2 FY27 results: standalone and consolidated figures from the filing
SJVN Limited (NSE: SJVN) filed its unaudited standalone and consolidated results for the quarter ended 30 September 2026 (July to September 2026, called Q2 FY27) with NSE on 30 October 2026, the day its board approved them.
Published 4 November 2026 · Potoos Research Services
In short. For July to September 2026, SJVN reported a standalone profit of Rs 736.73 crore, up 97.9% from Rs 372.28 crore a year earlier, and a consolidated profit of Rs 657.72 crore, up 113.7% from Rs 307.80 crore. Revenue in both sets includes Rs 242.59 crore relating to earlier years, booked after a tariff order.
The numbers
SJVN reports in Rs crore. The first two tables are consolidated (SJVN and its subsidiaries as one group), the last two are standalone (SJVN Limited on its own). News reports have mixed the two profit figures, so each table is labelled. The change column is worked out by us from the filing's own numbers.
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 2,244.32 | 1,032.40 | +117.4% |
| Total income (revenue plus other income) | 2,290.31 | 1,078.29 | +112.4% |
| Profit for the period | 657.72 | 307.80 | +113.7% |
| Profit attributable to owners of the parent company | 657.39 | 307.91 | +113.5% |
| Basic EPS (Rs) | 1.68 | 0.78 | +115.4% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 3,638.70 | 1,949.85 | +86.6% |
| Total income | 3,719.09 | 2,049.88 | +81.4% |
| Profit for the period | 882.46 | 535.38 | +64.8% |
| Profit attributable to owners of the parent company | 882.32 | 535.68 | +64.7% |
| Basic EPS (Rs) | 2.25 | 1.36 | +65.4% |
| Item | Jul to Sep 2026 | Jul to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 1,416.99 | 942.03 | +50.4% |
| Total income | 1,526.85 | 1,032.68 | +47.9% |
| Profit for the period | 736.73 | 372.28 | +97.9% |
| Basic EPS (Rs) | 1.87 | 0.95 | +96.8% |
| Item | Apr to Sep 2026 | Apr to Sep 2025 | Change |
|---|---|---|---|
| Revenue from operations | 2,175.82 | 1,764.47 | +23.3% |
| Total income | 2,321.71 | 1,940.07 | +19.7% |
| Profit for the period | 983.61 | 630.79 | +55.9% |
| Basic EPS (Rs) | 2.50 | 1.61 | +55.3% |
EPS here is the figure the company prints “including net movement in regulatory deferral account balances”; it is the same for basic and diluted. No exceptional items appear in the quarter or half year.
What the notes say
The notes to the results explain some of the rise in revenue. In the company's words:
“Revenue from operations for the quarter and half year ended 30th September 2026 includes ₹242.59 crore, relating to earlier years, recognised pursuant to receipt of the provisional tariff order for the period 2024-29 in respect of NJHPS (Nil for the corresponding quarter and half year ended 30th September 2025).”
SJVN, notes to standalone and consolidated results, 30 October 2026
NJHPS is the Nathpa Jhakri Hydro Power Station. The consolidated notes add a second item: revenue for the quarter and half year includes Rs 40.42 crore relating to earlier periods for the Buxar Thermal Power Project of SJVN Thermal Private Limited, a subsidiary, after a CERC order dated 12 October 2026 allowing an interim tariff, subject to the final tariff CERC sets. The consolidated statement also shows a fuel cost of Rs 331.13 crore for the quarter, against nil a year earlier.
The auditors, Charanjit Singh & Associates, gave a limited review with emphasis of matter paragraphs. These include notes on the tariff order above; the Etalin project (3,097 MW) reassigned to NHPC, whose assets of Rs 738.52 crore are now shown as held for sale; the Devasari project in Uttarakhand, on hold since 2021, with Rs 251.50 crore spent so far; and three Himachal Pradesh projects (Luhri Stage-1, Sunni Dam and Dhaulasidh) where the implementation agreement is not yet signed and the state government has said it may consider taking the projects back. The auditors state their conclusion is not modified in respect of these matters.
Dates
- Board meeting: 30 October 2026 (started 11:30 hours, ended 15:00 hours). The board approved the results that day.
- Filed with NSE: 30 October 2026.
- Dividend: none declared in this filing. The notes mention only the final dividend of Rs 0.35 per share for 2025-26, approved at the AGM on 31 August 2026 and paid in September 2026.
- Also approved at the same meeting: starting the process to merge SJVN Thermal Private Limited, a wholly owned subsidiary that runs the 1,320 MW Buxar Thermal Power Plant in Bihar, into SJVN Limited, subject to approval of the Government of India. The company filed this separately with NSE the same day.
Consolidated and standalone: consolidated figures add up SJVN and its subsidiaries, such as SJVN Thermal and SJVN Green Energy, as one group. Standalone figures cover SJVN Limited alone. This quarter the standalone profit (Rs 736.73 crore) is higher than the consolidated profit (Rs 657.72 crore), so always check which one a headline quotes.
Regulatory deferral account balances: amounts a power company expects to recover from, or return to, its customers under tariff rules. SJVN shows their net movement as a separate line, and its profit for the period includes it.
Emphasis of matter: a paragraph in which the auditor points readers to a note they consider important. It does not change the auditor's conclusion.
Source
- SJVN, outcome of board meeting with unaudited standalone and consolidated results, 30 October 2026. nsearchives.nseindia.com
- SJVN, intimation on the merger of SJVN Thermal Private Limited, 30 October 2026. nsearchives.nseindia.com
This page was written by Potoos Research Services, a SEBI-registered Research Analyst (INH000027380) in Chennai. Every figure above is copied from the company's filing, and every percentage change is worked out from the filing's own numbers.
This page reports what the company filed. It is not a recommendation to buy, sell or hold.
Common questions
What was SJVN's profit in Q2 FY27?
The standalone profit for July to September 2026 was Rs 736.73 crore, against Rs 372.28 crore a year earlier. The consolidated profit was Rs 657.72 crore, against Rs 307.80 crore.
Why do news reports show two different SJVN profit figures?
SJVN files two sets of results. Standalone covers SJVN Limited alone; consolidated adds its subsidiaries. This quarter the standalone profit (Rs 736.73 crore) is higher than the consolidated profit (Rs 657.72 crore).
What was SJVN's revenue in Q2 FY27?
Consolidated revenue from operations was Rs 2,244.32 crore, against Rs 1,032.40 crore, a change of +117.4%. Standalone revenue from operations was Rs 1,416.99 crore, against Rs 942.03 crore. Revenue in both sets includes Rs 242.59 crore relating to earlier years.
Did SJVN declare a dividend with these results?
No dividend was declared in the 30 October 2026 results filing.
Is this page a recommendation?
No. It reports what the company filed. It is not a recommendation to buy, sell or hold.