NHPC vs SJVN: Which Stock Should You Track

NHPC vs SJVN is a comparison hydro power investors look up when evaluating two listed Indian government hydro power PSUs. NHPC (National Hydroelectric Power Corporation) is India's largest hydro power generator with a large portfolio of operating hydro projects and an extensive under-construction pipeline. SJVN (Satluj Jal Vidyut Nigam) is a smaller Himachal Pradesh-based hydro power company with operating projects in Himachal Pradesh and expanding into solar and wind.

This NHPC vs SJVN article covers reach and market position, key products, latest declared results and stock valuation. The NHPC vs SJVN data below is sourced from Groww and public company filings and reflects the most recently available information at the time of writing.

NHPC vs SJVN: Reach and Market Position

On the NHPC side of the NHPC vs SJVN comparison, NHPC operates hydro power plants in Himachal Pradesh, Jammu and Kashmir, Uttarakhand, Assam and other Himalayan states with a total installed capacity of approximately 7,000+ MW. Market capitalisation is Rs 78,653 Cr.

Click Here – Get Free Investment Predictions

On the SJVN side of the NHPC vs SJVN comparison, SJVN operates the Nathpa Jhakri hydro plant (1,500 MW) in Himachal Pradesh as its key asset, with smaller hydro and solar projects. It is expanding through a large renewable energy pipeline. Market capitalisation is Rs 27,151 Cr.

NHPC vs SJVN: Key Products and Business Mix

In the NHPC vs SJVN product comparison, NHPC offers: NHPC earns from regulated hydro power sales under PPAs with state utilities. EPS is Rs 4.25. P/E is 18.42x, ROE 9.09 percent, D/E 1.26. Dividend yield is 2.06 percent.

For SJVN in this NHPC vs SJVN breakdown: SJVN earns from Nathpa Jhakri hydro sales and a growing solar and wind portfolio. EPS is Rs 1.63. P/E is 42.39x, ROE 4.51 percent, D/E 2.27. Dividend yield is 2.17 percent.

NHPC vs SJVN: Latest Results

The NHPC vs SJVN results for NHPC: NHPC has a market cap of Rs 78,653 Cr and P/E of 18.42x. ROE is 9.09 percent. NHPC is 2.9 times larger than SJVN by market cap. Dividend yield is 2.06 percent.

The NHPC vs SJVN results for SJVN: SJVN has a market cap of Rs 27,151 Cr and P/E of 42.39x. ROE of 4.51 percent is low due to SJVN's high equity base relative to current earnings — a result of capital raised for future project development. D/E of 2.27 reflects under-construction project debt.

Compare NHPC and SJVN Fundamentals on the Univest Screener

NHPC vs SJVN: Stock and Valuation

The NHPC vs SJVN stock comparison uses the latest available market data from Groww. Investors tracking NHPC vs SJVN should verify current prices on NSE or BSE before trading.

NHPC vs SJVN at current valuations: NHPC trades at Rs 78,653 Cr market cap, P/E 18.42x, ROE 9.09 percent. SJVN trades at Rs 27,151 Cr market cap, P/E 42.39x, ROE 4.51 percent. NHPC is cheaper and has higher current ROE. SJVN trades at a higher P/E reflecting expected future earnings from a large under-construction renewable pipeline.

NHPC vs SJVN: Quick Comparison Table

The NHPC vs SJVN comparison table below summarises the key metrics covered in this article side by side.

Parameter	NHPC	SJVN
Sector	Hydro power PSU (large operating base)	Hydro + solar + wind PSU (pipeline-heavy)
Market Cap	Rs 78,653 Cr	Rs 27,151 Cr
P/E Ratio	18.42x	42.39x (pipeline pricing)
ROE	9.09%	4.51%
Debt to Equity	1.26	2.27
Dividend Yield	2.06%	2.17%
Installed Capacity	~7,000+ MW hydro	~2,000 MW hydro + growing solar/wind

Conclusion

The NHPC vs SJVN comparison above covers the key data points on reach, products, results and valuation. NHPC vs SJVN covers two government hydro power PSUs at different scales. NHPC has a larger operating base and consistent cash flows. SJVN has a smaller operating base but a significant pipeline of solar and wind projects under development. Both pay dividends. Investors should review project execution, hydrological risk (rainfall dependence), regulated tariff revisions and renewable capacity addition timelines before taking a view. Consult a SEBI-registered advisor for personalised guidance.

Download the Univest iOS App or Univest Android App to track NHPC and SJVN live price and get daily stock recommendations.

SEBI Research Analyst Registration No. INH000013776

Frequently Asked Questions

What does NHPC do?

Ans. NHPC (National Hydroelectric Power Corporation) is India's largest hydro power generator, operating hydro plants in Himalayan and North-East Indian states. It supplies power to state utilities under cost-plus regulated tariffs.

What is SJVN known for?

Ans. SJVN is known primarily for its flagship Nathpa Jhakri Hydro Power Station (1,500 MW) in Himachal Pradesh. It is expanding into solar and wind with a large under-construction project pipeline.

What is the risk in hydro power investing?

Ans. Key risks include hydrological risk (lower rainfall means lower generation), project execution delays for under-construction projects, and tariff revision risk under regulatory orders.

Do NHPC and SJVN pay regular dividends?

Ans. Yes. Both NHPC (2.06 percent yield) and SJVN (2.17 percent yield) pay regular dividends as PSU infrastructure companies with stable regulated earnings.

Is NHPC in Nifty 50?

Ans. No. NHPC is not in Nifty 50. It is tracked in Nifty Energy and Nifty PSE indices.

What makes SJVN's P/E higher than NHPC?

Ans. SJVN trades at a higher P/E of 42.39x due to the market pricing in future capacity additions under its large renewable energy pipeline, while current earnings from operating plants are modest.

Which is larger by market cap, NHPC or SJVN?

Ans. NHPC is larger at Rs 78,653 Cr versus SJVN at Rs 27,151 Cr.