NHPC Ltd
NHPC NSE
NHPC Ltd
Power F&ONSE: NHPC BSE: 533098 Power Generation
Key Fundamentals
MidcapPower GenerationPowerMarket Cap
₹76,895 Cr
Volatility
Moderate
P/E Ratio
20.3
EBITDA
₹6,307 Cr
Return on Equity
6.69%
Debt to Equity
1.26
Book Value
₹41.25
EPS
₹3.6
52W High
₹89.22
52W Low
₹71.62
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view NHPC Ltd insights
53 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
Data-driven rating, 0–100. How it works →
Technical Indicators
Key Insights
Strengths
2- Company has been maintaining a healthy dividend payout of 53.3%
- Debtor days have improved from 114 to 82.6 days.
Weaknesses
6- Promoter holding has decreased over last quarter: -6.01%
- The company has delivered a poor sales growth of 3.78% over past five years.
- Tax rate seems low
- Company has a low return on equity of 8.79% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.2,609 Cr.
Growth Rate
Revenue Growth
9.23% ↘
Net Income Growth
3.28% ↗
Cash Flow Change
-34.47% ↘
ROE
-3.60% ↗
ROCE
-33.39% ↘
EBITDA Margin (Avg.)
-15.95% ↘
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoAI opinion · based on fundamentals
Risk medium
NHPC Ltd is a government-owned hydropower giant with a market cap of Rs.77,869 Cr trading at a P/E of 18.4x and P/B of 1.89x. The company has delivered TTM profit growth of 24% but its longer-term sales CAGR remains modest at 3-4% over 5 and 10 years, with ROE steady at around 9%.
Bull Case 7
- Strong TTM profit growth of 24% indicates improving earnings momentum
- Healthy dividend payout ratio of 53.3% with a current yield of 2.08%, offering steady income
- TTM sales growth of 12% shows acceleration from the 5-year CAGR of just 4%
- Debtor days improved from 114 to 82.6 days, indicating better working capital management and faster collections
- 10-year stock CAGR of 11% and 5-year CAGR of 24% reflect long-term wealth creation for shareholders
- P/E of 18.4x is reasonable for a power utility with government backing, providing downside protection
- As a hydropower producer, NHPC benefits from India's push toward renewable energy with near-zero fuel cost once plants are operational
Bear Case 8
- Poor 5-year compounded sales growth of only 3.78%, well below inflation-adjusted levels
- Low 3-year ROE of 8.79% suggests inefficient capital deployment for shareholders
- Promoter holding decreased by 6.01% in the last quarter, signaling potential dilution or government divestment
- Earnings include other income of Rs.2,609 Cr, raising questions about the quality of core operating profits
- 3-year compounded profit growth is negative at -1%, indicating recent earnings volatility despite TTM recovery
- Company might be capitalizing interest costs, which flatters reported profits and understates true expenses
- 1-year stock return of -7% shows recent underperformance and negative price momentum
- Tax rate appears low, which may not be sustainable and could normalize upward in future periods
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 20h ago Headwinds 2
- 10 killed in Teesta tunnel blast Jul 21
Methane gas explosion at Teesta VI HE Project tunnel in Sikkim on July 20 trapped 25 personnel and resulted in 10 casualties. This raises safety and project execution concerns.
- Corporate governance concerns flagged Aug 6
Parliamentary panel raised unresolved corporate governance issues at NHPC, calling for review of internal governance practices at the PSU.
Positives 3
- Q1FY27 profit up 4% YoY Aug 4
Standalone net profit rose 4% YoY to ₹1,113.41 crore for Q1FY27, with revenue from operations reaching ₹3,537.04 crore.
- Strong ESG metrics in BRSR Aug 5
FY 2025-26 BRSR disclosed zero fatalities, 79.4% renewable energy consumption, and ₹431.14 crore MSE procurement.
- New Director (Personnel) appointed Jul 27
Ministry of Power appointed Paresh Rasiklal Ranpara as Director (Personnel) for a five-year term, strengthening leadership bench.
Neutral 3
- Aug 12 record date for dividend Aug 3
Record date fixed as August 12, 2026 for final dividend of ₹0.21 per share for FY26. 50th AGM scheduled for August 28, 2026.
- Jalpower merger hearing Aug 25 Aug 7
Hearing date of August 25, 2026 set for amalgamation scheme with wholly-owned subsidiary Jalpower Corporation Limited under Companies Act.
- Independent Director appointed Jul 25
Dr. Bernadette Lyngdoh appointed as Independent Director effective July 24, 2026 for a three-year term, approved by Ministry of Power.
TL;DR: NHPC delivered steady Q1FY27 earnings growth of 4% YoY and demonstrated strong ESG credentials. However, the fatal Teesta VI tunnel explosion (10 casualties) poses serious safety, reputational, and project-delay risks, while parliamentary governance concerns add regulatory overhang. The operational trend is stable but execution risk on under-construction projects and governance scrutiny need monitoring in coming quarters.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,757 | 2,931 | 2,056 | 1,887 | 2,694 | 3,052 | 2,287 | 2,347 | 3,214 | 3,365 | 2,221 | 2,816 | 3,808 |
| Expenses | 1,253 | 1,163 | 1,303 | 735 | 1,085 | 1,247 | 1,272 | 1,142 | 1,412 | 1,338 | 2,009 | 2,179 | 1,456 |
| Operating Profit | 1,505 | 1,768 | 752 | 1,152 | 1,609 | 1,805 | 1,015 | 1,205 | 1,802 | 2,027 | 212 | 637 | 2,352 |
| OPM % | 55% | 60% | 37% | 61% | 60% | 59% | 44% | 51% | 56% | 60% | 10% | 23% | 62% |
| Other Income | 292 | 261 | 587 | 623 | 431 | 454 | 365 | 265 | 413 | 448 | 1,449 | 306 | 407 |
| Interest | 109 | 116 | 133 | 365 | 244 | 308 | 649 | -12 | 261 | 278 | 310 | 574 | 606 |
| Depreciation | 294 | 295 | 296 | 299 | 296 | 285 | 297 | 315 | 436 | 441 | 457 | 642 | 600 |
| PBT | 1,394 | 1,618 | 909 | 1,111 | 1,500 | 1,666 | 434 | 1,167 | 1,518 | 1,755 | 894 | -274 | 1,554 |
| Tax % | 21% | -5% | 31% | 46% | 27% | 36% | 24% | 21% | 26% | 31% | 64% | -666% | 24% |
| Net Profit | 1,095 | 1,693 | 623 | 605 | 1,102 | 1,060 | 330 | 920 | 1,131 | 1,219 | 321 | 1,549 | 1,178 |
| EPS in Rs | 1.03 | 1.54 | 0.48 | 0.54 | 1.02 | 0.9 | 0.23 | 0.85 | 1.06 | 1.02 | 0.22 | 1.45 | 1.09 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 8,221 | 8,354 | 8,623 | 7,755 | 8,983 | 10,008 | 9,648 | 9,144 | 10,607 | 9,631 | 10,380 | 11,615 | 12,210 |
| Expenses | 3,087 | 3,571 | 3,739 | 3,508 | 4,002 | 5,152 | 4,371 | 5,131 | 4,423 | 4,695 | 4,857 | 7,519 | 6,982 |
| Operating Profit | 5,134 | 4,783 | 4,884 | 4,248 | 4,981 | 4,856 | 5,277 | 4,013 | 6,184 | 4,936 | 5,523 | 4,097 | 5,227 |
| OPM % | 62% | 57% | 57% | 55% | 55% | 49% | 55% | 44% | 58% | 51% | 53% | 35% | 43% |
| Other Income | 1,597 | 1,174 | 2,245 | 1,185 | 1,733 | 901 | 1,087 | 981 | 743 | 2,030 | 1,626 | 3,196 | 2,609 |
| Interest | 1,296 | 1,160 | 1,133 | 924 | 896 | 877 | 577 | 586 | 475 | 767 | 1,189 | 1,423 | 1,768 |
| Depreciation | 1,715 | 1,432 | 1,462 | 1,469 | 1,658 | 1,614 | 1,292 | 1,190 | 1,215 | 1,184 | 1,193 | 1,976 | 2,140 |
| PBT | 3,718 | 3,365 | 4,535 | 3,040 | 4,159 | 3,266 | 4,495 | 3,217 | 5,237 | 5,015 | 4,767 | 3,894 | 3,929 |
| Tax % | 25% | 30% | 23% | 8% | 32% | -2% | 20% | -17% | 19% | 20% | 28% | -8% | — |
| Net Profit | 2,798 | 2,365 | 3,480 | 2,785 | 2,836 | 3,345 | 3,600 | 3,774 | 4,261 | 4,000 | 3,412 | 4,220 | 4,267 |
| EPS in Rs | 2.25 | 1.85 | 2.95 | 2.45 | 2.58 | 2.87 | 3.26 | 3.51 | 3.89 | 3.58 | 2.99 | 3.75 | 3.78 |
| Div. Payout % | 27% | 81% | 61% | 57% | 56% | 52% | 49% | 52% | 48% | 53% | 64% | 43% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11,071 | 11,071 | 10,259 | 10,259 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 | 10,045 |
| Reserves | 19,687 | 20,572 | 18,756 | 19,782 | 20,753 | 21,336 | 23,008 | 24,876 | 26,916 | 28,624 | 29,623 | 31,392 |
| Borrowings | 20,584 | 19,938 | 19,227 | 18,602 | 19,066 | 23,226 | 23,365 | 26,096 | 29,540 | 32,561 | 39,557 | 52,327 |
| Other Liabilities | 10,094 | 11,242 | 11,946 | 14,290 | 16,870 | 16,669 | 16,717 | 16,271 | 19,710 | 21,037 | 23,455 | 26,243 |
| Total Liabilities | 61,436 | 62,823 | 60,187 | 62,933 | 66,734 | 71,277 | 73,136 | 77,288 | 86,211 | 92,267 | 1,02,680 | 1,20,007 |
| Fixed Assets | 27,916 | 22,610 | 22,227 | 21,201 | 24,977 | 24,402 | 21,993 | 21,825 | 22,137 | 21,474 | 22,168 | 50,290 |
| CWIP | 16,378 | 16,742 | 17,588 | 19,087 | 15,037 | 17,180 | 19,167 | 22,522 | 31,357 | 39,798 | 50,601 | 34,948 |
| Investments | 1,020 | 606 | 1,020 | 1,125 | 1,283 | 1,398 | 1,842 | 2,386 | 499 | 479 | 444 | 440 |
| Other Assets | 16,123 | 22,866 | 19,352 | 21,520 | 25,437 | 28,297 | 30,133 | 30,554 | 32,218 | 30,516 | 29,467 | 34,329 |
| Total Assets | 61,436 | 62,823 | 60,187 | 62,933 | 66,734 | 71,277 | 73,136 | 77,288 | 86,211 | 92,267 | 1,02,680 | 1,20,007 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 4,061 | 5,971 | 8,329 | 4,696 | 3,824 | 2,993 | 5,070 | 4,590 | 4,705 | 7,252 | 5,026 | 3,294 |
| Investing | -768 | -746 | -1,864 | -886 | -1,182 | -2,987 | -1,607 | -3,084 | -4,191 | -5,940 | -7,550 | -11,139 |
| Financing | -2,494 | -4,000 | -7,812 | -3,863 | -2,637 | 12 | -3,058 | -638 | -795 | -924 | 1,904 | 8,928 |
| Net Cash Flow | 798 | 1,224 | -1,347 | -53 | 5 | 17 | 405 | 867 | -281 | 388 | -620 | 1,082 |
| Free Cash Flow | 2,335 | 3,824 | 6,742 | 3,133 | 2,464 | -639 | 3,012 | 888 | -269 | 285 | -3,823 | -8,274 |
| CFO/OP | 95 | 143 | 193 | 130 | 94 | 79 | 110 | 135 | 92 | 165 | 107 | 102 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 129 | 83 | 78 | 63 | 115 | 131 | 194 | 207 | 212 | 168 | 90 | 83 |
| Cash Conversion Cycle | 129 | 83 | 78 | 63 | 115 | 131 | 194 | 207 | 212 | 168 | 90 | 83 |
| Working Capital Days | -1 | 109 | -29 | -120 | -18 | 57 | 36 | 11 | -1 | -51 | -58 | -97 |
| ROCE % | 9% | 8% | 11% | 8% | 10% | 8% | 9% | 6% | 8% | 8% | 7% | 6% |
Documents
1
Intimation Regarding Change In Holding Of Subsidiary Company
8h - NHPC stake in CVPPL fell from 58.16% to 50.86% after JKSPDCL equity contribution. 8h - NHPC stake in CVPPL fell from 58.16% to 50.86% after JKSPDCL equity contribution.
2
Board Meeting Intimation for Financial Results, Final Dividend, If Any, For FY 2025-26 And Fund Raising.
8 May - Board meets 15 May 2026 for FY26 results, final dividend and proposed ₹2,000 crore bond issue. 8 May - Board meets 15 May 2026 for FY26 results, final dividend and proposed ₹2,000 crore bond issue.
3
Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - Lalitendu Kumar Tripathi and Ram Swaroop to cease as EDs on 30 April 2026. 30 Apr - Lalitendu Kumar Tripathi and Ram Swaroop to cease as EDs on 30 April 2026.
4
Update On Commissioning Of Subansiri Lower HE Project (2000 MW) Of NHPC Limited
5 May - NHPC declares CoD of Subansiri Lower HE Project Unit 4 from 08 May 2026; four units now operational. 5 May - NHPC declares CoD of Subansiri Lower HE Project Unit 4 from 08 May 2026; four units now operational.
5
Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - Lalitendu Kumar Tripathi and Ram Swaroop to cease as EDs on 30 April 2026. 30 Apr - Lalitendu Kumar Tripathi and Ram Swaroop to cease as EDs on 30 April 2026.
Frequently Asked Questions about NHPC Ltd
What does NHPC Ltd do?
NHPC, a Navratna Ratna 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 contrac...
Where is NHPC Ltd (NHPC) listed?
NHPC Ltd is listed on the Indian stock exchanges. It is listed on NSE: NHPC and BSE: 533098. You can view its live share price, financials, and ratios on Tapetide.
Which sector does NHPC Ltd belong to?
NHPC Ltd operates in the Power sector within the Power Generation industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of NHPC Ltd?
NHPC Ltd has a market capitalisation of approximately ₹76894.74 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of NHPC Ltd?
The Price-to-Earnings (PE) ratio of NHPC Ltd is 20.30. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of NHPC Ltd?
Over the past 52 weeks, NHPC Ltd has traded between a low of ₹71.62 and a high of ₹89.22. This range helps investors understand the stock's price volatility and recent trading levels.
Does NHPC Ltd pay dividends?
Yes, NHPC Ltd has a dividend yield of 2.10%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of NHPC Ltd?
NHPC Ltd has a Return on Equity (ROE) of 6.69%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research NHPC Ltd on Tapetide?
On Tapetide, you can view NHPC Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.
Company Information
NHPC, a Navratna Ratna 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]
Website nhpcindia.com
CEO Mr. Uttam Lal
Employees 4,240
Listed 2009-09-01
Face Value ₹ 10
Issued Size 10,04,50,34,805