SJVN · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Of the 7.5 GW tendered and 2.4 GW awarded under REIA vertical, PPAs remain unsigned due to DISCOM reluctance to sign Power Sale Agreements. Management expects resolution within two months but timing uncertainty persists.
Nepal's 900 MW Arun-3 hydro project faces geological surprises at dam site, pushing commissioning from FY26 to Q4 FY27. This is a ~1.5 year delay affecting flagship project timeline.
Finance costs increased significantly due to capital infusion for under-construction projects and securitization deployment in renewables. Management expects improvement only post-FY26 commissioning.
1,000 MW Bikaner project dependent on Tata Power module supply (EPC contractor). Industry-wide CPSU scheme delays with Indian module mandate affecting commissioning timeline. Investor questioned accuracy of earlier capacity addition guidance.
