August 28, 2008

SJVN conferred with Mini Ratna status

Satluj Jal Vidyut Nigam Limited has been conferred with the prestigious Mini Ratna category I status by government of India. SJVN has the distinction of being conferred with the much coveted status within only 4 years of coming into commercial operations.

Meeting all the parameters fixed by the department of public enterprises, SJVN has bagged the coveted title which will make it eligible for enhanced delegation of powers and freedom of working. The Mini Ratna companies are in 2 categories namely category I and category II. SJVN has been conferred with the category I status as a result of its commendable performance.

SJVN's 1500 MW Nathpa Jhakri hydro power station has been consistently improving power generation since coming into full commercial production in May 2004. During 2007-08, it generated 6432 million units of energy while during 2006-07 it had achieved 6014 million units. In 2005-06 the power generation was only 4104 million units and in 2004-05 it was 5147 million units.

As a result of the gradual improvement in power generation, it has been improving its net profits. For the year 2006-07, it had posted a net profit of INR 732 crore while for the year 2007-08, the net profits are likely to be INR 715.75 crore.

Against its performance for the year 2007-08, SJVN has already paid an interim dividend of INR 136 crore to the equity partners government of India and the government of Himachal Pradesh. For the year 2006-07, it had paid a dividend of INR 235 crore.

With 412 MW Rampur hydro electric project under construction and 5 projects under various stages of investigation in the states of Himachal Pradesh and Uttarakhand and one 402 MW project allocated in Nepal, SJVN has an ambitious plan to add 3000 MW of power generation during the 11th and 12th five year plans.