NHPC Ltd
NHPC, a Mini Ratna category I public sector utility, is Government of India’s flagship hydroelectric generation company. The company is primarily involved in the generation and sale of bulk power to various Power Utilities. Its other business includes providing project management / construction contracts/ consultancy assignment services and trading of power. [1][2]
- Market Cap ₹ 90,124 Cr.
- Current Price ₹ 89.7
- High / Low ₹ 118 / 71.0
- Stock P/E 30.0
- Book Value ₹ 39.5
- Dividend Yield 2.12 %
- ROCE 7.39 %
- ROE 7.67 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 54.7%
Cons
- The company has delivered a poor sales growth of 0.73% over past five years.
- Company has a low return on equity of 9.34% over last 3 years.
- Company might be capitalizing the interest cost
- Company has high debtors of 169 days.
- Promoter holding has decreased over last 3 years: -3.55%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Utilities Power Power Power Generation
Part of BSE 500 BSE 200 BSE PSU Nifty 500 BSE MidCap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
7,389 | 8,221 | 8,354 | 8,623 | 7,755 | 8,983 | 10,008 | 9,648 | 9,144 | 10,607 | 9,632 | 10,380 | |
3,047 | 3,087 | 3,571 | 3,739 | 3,508 | 4,002 | 4,562 | 4,371 | 5,131 | 4,423 | 4,825 | 4,860 | |
Operating Profit | 4,342 | 5,134 | 4,783 | 4,884 | 4,248 | 4,981 | 5,446 | 5,277 | 4,013 | 6,184 | 4,807 | 5,520 |
OPM % | 59% | 62% | 57% | 57% | 55% | 55% | 54% | 55% | 44% | 58% | 50% | 53% |
889 | 1,597 | 1,174 | 2,245 | 1,185 | 1,733 | 311 | 1,087 | 981 | 743 | 2,029 | 1,629 | |
Interest | 1,203 | 1,296 | 1,160 | 1,133 | 924 | 896 | 877 | 577 | 586 | 475 | 608 | 1,189 |
Depreciation | 1,499 | 1,715 | 1,432 | 1,462 | 1,469 | 1,658 | 1,614 | 1,292 | 1,190 | 1,215 | 1,184 | 1,193 |
Profit before tax | 2,529 | 3,718 | 3,365 | 4,535 | 3,040 | 4,159 | 3,266 | 4,495 | 3,217 | 5,237 | 5,043 | 4,767 |
Tax % | 35% | 25% | 30% | 23% | 8% | 32% | -2% | 20% | -17% | 19% | 20% | 28% |
1,633 | 2,798 | 2,365 | 3,480 | 2,785 | 2,836 | 3,345 | 3,600 | 3,774 | 4,261 | 4,028 | 3,412 | |
EPS in Rs | 1.10 | 2.25 | 1.85 | 2.95 | 2.45 | 2.58 | 2.87 | 3.26 | 3.51 | 3.89 | 3.61 | 2.99 |
Dividend Payout % | 27% | 27% | 81% | 61% | 57% | 56% | 52% | 49% | 52% | 48% | 53% | 64% |
Compounded Sales Growth | |
---|---|
10 Years: | 2% |
5 Years: | 1% |
3 Years: | 4% |
TTM: | 8% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | -2% |
3 Years: | -5% |
TTM: | -17% |
Stock Price CAGR | |
---|---|
10 Years: | 17% |
5 Years: | 35% |
3 Years: | 40% |
1 Year: | -12% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 10% |
3 Years: | 9% |
Last Year: | 8% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 11,071 | 11,071 | 11,071 | 10,259 | 10,259 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 |
Reserves | 17,175 | 19,687 | 20,572 | 18,756 | 19,782 | 20,753 | 21,336 | 23,008 | 24,876 | 26,916 | 28,657 | 29,623 |
20,819 | 20,584 | 19,938 | 19,227 | 18,602 | 19,066 | 23,226 | 23,365 | 26,096 | 29,540 | 32,561 | 39,557 | |
12,362 | 10,094 | 11,242 | 11,946 | 14,290 | 16,870 | 16,669 | 16,717 | 16,271 | 19,710 | 22,034 | 23,453 | |
Total Liabilities | 61,427 | 61,436 | 62,823 | 60,187 | 62,933 | 66,734 | 71,277 | 73,136 | 77,288 | 86,211 | 93,297 | 102,678 |
29,587 | 27,916 | 22,610 | 22,227 | 21,201 | 24,977 | 24,402 | 21,993 | 21,825 | 22,137 | 21,474 | 22,370 | |
CWIP | 14,924 | 16,378 | 16,742 | 17,588 | 19,087 | 15,037 | 17,180 | 19,167 | 22,522 | 31,357 | 39,831 | 50,398 |
Investments | 1,273 | 1,020 | 606 | 1,020 | 1,125 | 1,283 | 1,398 | 1,842 | 2,386 | 499 | 479 | 444 |
15,643 | 16,123 | 22,866 | 19,352 | 21,520 | 25,437 | 28,297 | 30,133 | 30,554 | 32,218 | 31,513 | 29,465 | |
Total Assets | 61,427 | 61,436 | 62,823 | 60,187 | 62,933 | 66,734 | 71,277 | 73,136 | 77,288 | 86,211 | 93,297 | 102,678 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,824 | 4,061 | 5,971 | 8,329 | 4,696 | 3,824 | 2,993 | 5,070 | 4,590 | 4,705 | 6,938 | 5,026 | |
-1,122 | -768 | -746 | -1,864 | -886 | -1,182 | -2,987 | -1,607 | -3,084 | -4,191 | -5,968 | -7,550 | |
-4,536 | -2,494 | -4,000 | -7,812 | -3,863 | -2,637 | 12 | -3,058 | -638 | -795 | -581 | 1,904 | |
Net Cash Flow | -1,834 | 798 | 1,224 | -1,347 | -53 | 5 | 17 | 405 | 867 | -281 | 388 | -620 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 120 | 129 | 83 | 78 | 63 | 115 | 131 | 194 | 207 | 212 | 167 | 169 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 120 | 129 | 83 | 78 | 63 | 115 | 131 | 194 | 207 | 212 | 167 | 169 |
Working Capital Days | -12 | -1 | 109 | -17 | -107 | -2 | 84 | 116 | 125 | 99 | 29 | 74 |
ROCE % | 8% | 9% | 8% | 11% | 8% | 10% | 9% | 9% | 6% | 8% | 8% | 7% |
Documents
Announcements
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Update Regarding Commissioning Of Part Capacity Of 300 MW Grid Connected Solar PV Project In Bikaner, Rajasthan
2d - 53.57 MW part capacity of 300 MW Bikaner solar project commissioned, total 160.71 MW operational.
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Intimation Of Schedule Of Institutional Investors Meet
3 Jun - NHPC to meet institutional investors in USA from June 9-16, 2025; no price sensitive info shared.
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Announcement under Regulation 30 (LODR)-Change in Management
1 Jun - NHPC appoints Amitabh Jha and Manisha Shrivastava as Executive Directors effective June 1, 2025.
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Announcement under Regulation 30 (LODR)-Change in Management
30 May - Two EDs of NHPC to retire on May 31, 2025, due to superannuation.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
28 May - NHPC FY25 results: 7% revenue rise, 17% PAT decline; Parbati-II 800MW commissioned; major hydro projects progress.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
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Financial Year 2011
from bse
Concalls
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May 2025Transcript PPT
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Nov 2024Transcript PPT
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Jun 2024TranscriptNotesPPT
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May 2024Transcript PPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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Jul 2023TranscriptNotesPPT
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Jun 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022TranscriptNotesPPT
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May 2022TranscriptNotesPPT
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Feb 2022TranscriptNotesPPT
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Nov 2021Transcript PPT
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Aug 2021Transcript PPT
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Feb 2021TranscriptPPT
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Aug 2020TranscriptPPT
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Feb 2020TranscriptPPT
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Nov 2019TranscriptPPT
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Aug 2019TranscriptPPT
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May 2019Transcript PPT
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Feb 2019TranscriptPPT
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Nov 2018TranscriptPPT
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Aug 2018TranscriptPPT
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Jun 2018TranscriptNotesPPT
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May 2018Transcript PPT
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Feb 2018Transcript PPT
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Nov 2017TranscriptPPT
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Aug 2017TranscriptNotesPPT
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Nov 2016TranscriptPPT
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Aug 2016TranscriptPPT
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Jan 2016TranscriptPPT
Power Capacity
As of Q3 FY25, the company has an installed capacity of 7,233 MW, including hydro and renewables. It is one of India's largest hydropower producers, with 6,971 MW of hydropower (~15% of the country's total). It operates 28 power stations across 15 states and 2 UTs. [1] [2]