NHPC

₹92.7 -1.8 | 1.9%

WEBSITE BSE:533098 NSE : NHPC 13 May, 11:27

Market Cap ₹93138 Cr.

Stock P/E 25.0

P/B 2.4

Current Price ₹92.7

Book Value ₹ 39.4

Face Value 10

52W High ₹115.8

Dividend Yield 2%

52W Low ₹ 42.6

Edit Ratio

NHPC Research see more...

Overview Inc. Year: 1975Industry: Power Generation/Distribution

NHPC Ltd is engaged in electricity generation. The Company is engaged in electric power generation via hydroelectric power plants. The Company is likewise engaged in contracts, project management and consultancy works. Its electricity stations encompass Bairasiul, Salal, Chamera-I, Tanakpur, Dhauliganga, Rangit and Loktak. Its specializes in Teesta Low Dam-IV Hydroelectric Project (160 megawatt), West Bengal; Kishanganga Hydroelectric Project (330 megawatt), Jammu and Kashmir; Parbati- II Hydroelectric Project (800 megawatt), Himachal Pradesh, and Subansiri Lower Hydroelectric Project (2,000 megawatt), Assam/Arunachal Pradesh. It presents consultancy offerings in numerous fields of hydropower, inclusive of river basin studies, survey works, layout and engineering, geological research, geotechnical studies, hydraulic brief research, hydrological research, contract management, creation management, system making plans, underground construction, checking out, commissioning, and operation and maintenance.

NHPC Share Price

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Peer Comparison

NHPC Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	2941	2157	1674	2681	3315	2583	2029	2757	2931	2056
Other Income	225	217	352	206	163	109	200	253	183	494
Total Income	3166	2374	2027	2887	3478	2691	2229	3010	3114	2550
Total Expenditure	1053	826	1154	1204	1127	877	1130	1253	1174	1335
Operating Profit	2113	1547	873	1683	2351	1814	1098	1757	1940	1215
Interest	134	130	134	137	107	120	111	109	105	97
Depreciation	296	303	296	303	301	306	304	294	295	296
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	1682	1114	443	1242	1943	1388	683	1355	1540	822
Provision for Tax	334	-1183	37	238	477	109	153	299	-75	286
Profit After Tax	1348	2298	406	1005	1466	1279	530	1056	1615	536
Adjustments	-13	-1485	61	34	69	-608	113	-19	-69	-44
Profit After Adjustments	1335	813	467	1039	1536	672	643	1037	1546	492
Adjusted Earnings Per Share	1.3	0.8	0.5	1	1.5	0.7	0.6	1	1.5	0.5

NHPC Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	6406	7416	8244	8354	8623	7755	8983	10008	9648	9144	10607	9773
Other Income	1391	1412	1077	1286	1507	1067	906	806	1238	1385	1128	1130
Total Income	7797	8828	9321	9640	10130	8822	9889	10814	10886	10530	11735	10903
Total Expenditure	2290	3597	3113	3504	3724	3517	3983	4469	4444	4324	4741	4892
Operating Profit	5507	5231	6208	6136	6406	5305	5907	6345	6442	6205	6995	6010
Interest	611	1203	1297	1340	1133	924	938	878	577	586	523	422
Depreciation	1241	1499	1715	1432	1462	1469	1658	1614	1292	1190	1215	1189
Exceptional Income / Expenses	240	0	522	551	720	128	843	-590	-73	-1210	-41	0
Profit Before Tax	3895	2529	3718	3916	4535	3040	4159	3266	4495	3217	5211	4400
Provision for Tax	1022	895	920	1000	1054	255	1324	-79	895	-557	976	663
Profit After Tax	2873	1633	2798	2916	3480	2785	2836	3345	3600	3774	4235	3737
Adjustments	-255	-414	-307	-314	-451	-271	-240	-460	-328	-251	-345	-19
Profit After Adjustments	2617	1219	2491	2602	3029	2514	2596	2885	3272	3524	3890	3718
Adjusted Earnings Per Share	2.1	1.1	2.3	2.4	3	2.5	2.6	2.9	3.3	3.5	3.9	3.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	2%	6%	5%
Operating Profit CAGR	13%	3%	6%	2%
PAT CAGR	12%	8%	9%	4%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	111%	53%	33%	17%
ROE Average	12%	11%	11%	10%
ROCE Average	9%	8%	9%	9%

NHPC Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	29795	28246	30757	31643	29015	30041	30798	31381	33053	34921	36899
Minority's Interest	2890	3066	3326	3168	3382	2935	2868	2774	2835	2863	4815
Borrowings	18806	19309	18724	18181	17246	16728	17045	20892	21231	23227	26602
Other Non-Current Liabilities	3181	3488	5204	5887	6452	8308	11511	10104	9253	8760	8853
Total Current Liabilities	7664	7293	5779	5927	6644	6878	7488	7667	11276	11463	13221
Total Liabilities	62336	61401	63790	64805	62739	64891	69710	72818	77648	81234	90391
Fixed Assets	23537	29587	27916	22610	22223	21196	24972	24397	21989	21821	22133
Other Non-Current Assets	23567	18407	22947	28628	31052	36065	35466	38240	41961	47727	53698
Total Current Assets	15232	13408	12927	13494	9413	7629	9272	10181	13699	11686	14560
Total Assets	62336	61401	63790	64805	62739	64891	69710	72818	77648	81234	90391

NHPC Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	7805	7930	6142	196	1421	74	20	25	42	447	1315
Cash Flow from Operating Activities	2846	3824	4061	5971	8329	4696	3824	2993	5070	4590	4692
Cash Flow from Investing Activities	-1330	-1075	-767	-746	-1864	-886	-1182	-2987	-1607	-3084	-4246
Cash Flow from Financing Activities	-1344	-4536	-2494	-4000	-7812	-3863	-2637	12	-3058	-638	-796
Net Cash Inflow / Outflow	172	-1787	799	1224	-1347	-53	5	17	405	867	-349
Closing Cash & Cash Equivalent	7976	6143	6941	1421	74	21	25	42	447	1315	1020

NHPC Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	2.13	1.1	2.25	2.35	2.95	2.45	2.58	2.87	3.26	3.51	3.87
CEPS(Rs)	3.34	2.83	4.08	3.93	4.82	4.15	4.47	4.94	4.87	4.94	5.42
DPS(Rs)	0.6	0.3	0.6	1.5	1.8	1.4	1.46	1.5	1.6	1.81	1.85
Book NAV/Share(Rs)	24.22	25.51	27.78	28.52	28.23	29.28	30.66	31.24	32.91	34.76	36.73
Core EBITDA Margin(%)	64.25	51.15	62.21	58.05	56.81	54.64	55.66	55.34	53.94	52.71	55.31
EBIT Margin(%)	70.34	49.98	60.8	62.91	65.72	51.11	56.74	41.41	52.56	41.6	54.06
Pre Tax Margin(%)	60.8	33.87	45.08	46.88	52.59	39.19	46.3	32.63	46.59	35.18	49.13
PAT Margin (%)	44.84	21.87	33.92	34.9	40.36	35.91	31.57	33.42	37.31	41.28	39.92
Cash Profit Margin (%)	64.21	41.96	54.72	52.05	57.31	54.84	50.03	49.55	50.71	54.29	51.37
ROA(%)	4.69	2.64	4.47	4.54	5.46	4.36	4.21	4.69	4.78	4.75	4.93
ROE(%)	9.83	5.63	9.48	9.36	11.5	9.44	9.32	10.76	11.17	11.11	11.79
ROCE(%)	9.16	7.52	9.99	10.22	11.37	8.19	10.35	7.93	9.14	6.48	9
Receivable days	127.83	113.97	117.88	105.07	79.55	75.3	85	117.1	164.88	205.75	195.04
Inventory Days	3.24	3.52	3.77	4.01	4.1	4.84	4.67	4.59	4.92	5.47	5.19
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	9.35	17.35	8.84	10.25	10.85	11.28	9.58	6.95	7.51	7.93	10.38
Price/Book(x)	0.82	0.75	0.72	0.85	1.14	0.94	0.81	0.64	0.74	0.8	1.09
Dividend Yield(%)	3.02	1.57	3.02	6.22	5.62	5.06	5.9	7.52	6.54	6.51	4.6
EV/Net Sales(x)	5.75	4.83	4.33	4.71	5.64	5.63	4.64	4.15	4.73	5.69	6.33
EV/Core EBITDA(x)	6.69	6.85	5.75	6.41	7.59	8.23	7.06	6.55	7.09	8.39	9.6
Net Sales Growth(%)	-11.25	15.76	11.17	1.33	3.22	-10.06	15.83	11.41	-3.6	-5.22	16
EBIT Growth(%)	-8.52	-17.2	34.4	4.81	7.83	-30.05	28.59	-18.7	22.38	-25	50.76
PAT Growth(%)	-15.6	-43.15	71.33	4.21	19.36	-19.99	1.83	17.95	7.62	4.85	12.2
EPS Growth(%)	-15.18	-48.26	104.41	4.43	25.65	-17.01	5.45	11.15	13.41	7.7	10.4
Debt/Equity(x)	0.68	0.74	0.67	0.63	0.66	0.62	0.62	0.74	0.71	0.75	0.8
Current Ratio(x)	1.99	1.84	2.24	2.28	1.42	1.11	1.24	1.33	1.21	1.02	1.1
Quick Ratio(x)	1.98	1.83	2.22	2.26	1.4	1.09	1.22	1.31	1.2	1.01	1.09
Interest Cover(x)	7.37	3.1	3.87	3.92	5	4.29	5.44	4.72	8.8	6.49	10.96
Total Debt/Mcap(x)	0.83	0.98	0.93	0.75	0.58	0.66	0.77	1.16	0.95	0.93	0.73

NHPC Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	70.95	70.95	70.95	70.95	70.95	70.95	70.95	70.95	70.95	67.4
FII	5.59	5.7	6.61	6.53	6.83	7.37	7.58	7.59	7.38	6.8
DII	15.52	15.26	14.57	14.69	16.17	15.91	15.76	14.46	14.94	12.58
Public	7.94	8.09	7.88	7.84	6.06	5.77	5.72	7	6.73	13.22
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	712.68	712.68	712.68	712.68	712.68	712.68	712.68	712.68	712.68	677.01
FII	56.17	57.21	66.35	65.55	68.56	74.07	76.09	76.24	74.11	68.31
DII	155.86	153.31	146.35	147.55	162.44	159.83	158.32	145.25	150.1	126.4
Public	79.8	81.31	79.13	78.72	60.82	57.93	57.42	70.34	67.62	132.78
Others	0	0	0	0	0	0	0	0	0	0
Total	1004.5	1004.5	1004.5	1004.5	1004.5	1004.5	1004.5	1004.5	1004.5	1004.5

Pros

Cons

Company has a low return on equity of 11% over the last 3 years.
The company has delivered a poor profit growth of 8% over past five years.

* 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.