NHPC Ltd

About [ edit ]

NHPC is primarily engaged in the business of generation and sale of bulk power to various Power Utilities. Other business includes providing project management / construction contracts/ consultancy assignment services and trading of power.(Source : 202003-01 Annual Report Page No:141)

  • Market Cap 26,569 Cr.
  • Current Price 26.4
  • High / Low 27.6 / 19.6
  • Stock P/E 7.84
  • Book Value 32.9
  • Dividend Yield 5.67 %
  • ROCE 9.70 %
  • ROE 10.5 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.80 times its book value
  • Stock is providing a good dividend yield of 5.67%.
  • Company has been maintaining a healthy dividend payout of 52.75%

Cons

  • The company has delivered a poor sales growth of 2.92% over past five years.
  • Company has a low return on equity of 9.24% for last 3 years.
  • Contingent liabilities of Rs.12084.52 Cr.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -3.01%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2,319 2,698 1,807 2,158 2,610 3,068 2,159 2,170 2,779 2,900 2,360 1,609
893 968 1,081 1,041 981 1,124 1,562 1,716 1,179 1,065 1,312 1,068
Operating Profit 1,426 1,729 726 1,118 1,629 1,945 597 454 1,600 1,835 1,047 541
OPM % 61% 64% 40% 52% 62% 63% 28% 21% 58% 63% 44% 34%
Other Income 161 324 236 862 360 358 120 213 -16 224 251 949
Interest 221 228 223 223 237 252 156 152 147 146 142 215
Depreciation 389 421 419 429 403 403 404 403 347 348 353 250
Profit before tax 976 1,404 322 1,329 1,349 1,647 157 112 1,090 1,564 804 1,024
Tax % 26% 22% 10% 55% 27% 12% -307% -131% 22% 17% -20% 55%
Net Profit 852 1,031 232 542 931 1,286 510 158 772 1,188 869 428
EPS in Rs 0.83 1.00 0.23 0.54 0.93 1.28 0.51 0.16 0.77 1.18 0.87 0.43

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
5,162 5,144 7,177 6,381 7,389 8,221 8,354 8,623 7,755 8,983 10,008 9,648
1,342 1,567 2,116 2,242 3,041 3,106 3,573 3,741 3,508 4,002 4,802 4,306
Operating Profit 3,820 3,576 5,062 4,139 4,348 5,115 4,781 4,882 4,248 4,981 5,206 5,342
OPM % 74% 70% 71% 65% 59% 62% 57% 57% 55% 55% 52% 55%
Other Income 951 1,464 1,009 1,608 882 1,615 1,176 2,247 1,185 1,733 900 1,090
Interest 747 616 569 611 1,203 1,296 1,160 1,133 924 896 877 650
Depreciation 1,269 1,168 1,151 1,241 1,499 1,715 1,432 1,462 1,469 1,658 1,614 1,298
Profit before tax 2,754 3,256 4,351 3,895 2,529 3,718 3,365 4,535 3,040 4,159 3,615 4,483
Tax % 17% 24% 22% 26% 35% 25% 30% 23% 8% 32% 8% 20%
Net Profit 2,176 2,316 3,086 2,617 1,219 2,491 2,051 3,029 2,514 2,596 2,875 3,257
EPS in Rs 1.77 1.88 2.51 2.13 1.10 2.25 1.85 2.95 2.45 2.58 2.86 3.24
Dividend Payout % 31% 32% 28% 28% 27% 27% 81% 61% 57% 56% 52% 49%
Compounded Sales Growth
10 Years:6%
5 Years:3%
3 Years:8%
TTM:-4%
Compounded Profit Growth
10 Years:4%
5 Years:11%
3 Years:11%
TTM:16%
Stock Price CAGR
10 Years:1%
5 Years:2%
3 Years:2%
1 Year:29%
Return on Equity
10 Years:9%
5 Years:9%
3 Years:9%
Last Year:11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
12,301 12,301 12,301 12,301 11,071 11,071 11,071 10,259 10,259 10,045 10,045 10,045
Reserves 12,806 14,226 16,343 17,494 17,175 19,687 20,572 18,756 19,782 20,753 21,326 23,045
Borrowings 16,352 16,772 19,562 20,340 20,819 20,584 19,938 19,227 18,602 19,066 23,226 21,969
8,142 10,904 12,108 12,226 12,362 10,094 11,242 11,946 14,290 16,870 16,756 18,097
Total Liabilities 49,601 54,202 60,314 62,361 61,427 61,436 62,823 60,187 62,933 66,734 71,353 73,157
22,302 22,731 22,183 23,537 29,587 27,916 22,610 22,227 21,201 24,977 24,402 21,982
CWIP 14,062 16,008 19,399 19,962 14,924 16,378 16,742 17,588 19,087 15,037 17,180 19,068
Investments 3,346 1,833 1,656 1,447 1,273 1,020 606 1,020 1,125 1,283 1,398 1,842
9,892 13,630 17,076 17,415 15,643 16,123 22,866 19,352 21,520 25,437 28,373 30,264
Total Assets 49,601 54,202 60,314 62,361 61,427 61,436 62,823 60,187 62,933 66,734 71,353 73,157

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3,613 3,757 3,378 2,846 3,824 4,061 5,971 8,329 4,696 3,824 3,252 5,073
-4,226 -1,272 -2,312 -1,330 -1,122 -768 -746 -1,864 -886 -1,182 -3,246 -1,530
4,196 -1,922 -22 -1,344 -4,536 -2,494 -4,000 -7,812 -3,863 -2,637 12 -3,138
Net Cash Flow 3,583 562 1,044 172 -1,834 798 1,224 -1,347 -53 5 17 405

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 9% 9% 11% 9% 9% 10% 9% 11% 8% 10% 9% 10%
Debtor Days 108 40 114 128 120 129 83 78 63 115 139 129
Inventory Turnover 0.36 0.45 8.32 7.81 7.64 7.53 7.24 7.14 6.55 6.73 6.98 7.98

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
73.64 73.67 73.67 73.33 73.33 73.33 73.11 70.95 70.95 70.95 70.95 70.95
4.45 4.49 4.62 4.89 4.92 4.54 4.70 4.68 4.50 4.27 3.98 4.04
11.20 11.24 11.25 11.60 11.62 11.99 12.19 14.16 14.20 14.43 14.51 14.89
10.71 10.59 10.46 10.19 10.13 10.14 10.00 10.21 10.35 10.36 10.56 10.12

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