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NHPC Ltd.

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nhpcindia.comBSE: 533098NSE: NHPC
Market Cap₹ 76,744 Cr.
Current Price
High / Low₹ 89 / 72
Stock P/E20.2
Book Value₹ 42
Price to Book1.79
Dividend Yield2.11 %
ROCE6.2 %
ROE10.4 %
Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence
71%
View full sector analysis →

PROS

  • Company has consistently been profitable over the last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.34x)
  • Company has been maintaining a healthy dividend payout of 42.9%
  • Working capital cycle has improved - days down from -4 to -28
  • Institutional investors have been accumulating - FII+DII up 6.9pp
  • Company has a consistent dividend-paying track record

CONS

  • A large part of profit comes from other income (31.4% of PBT)
  • Company has a low return on capital employed of 7.5%
  • Promoter holding has decreased over last 2 years: -6.0pp
  • Company has a low return on equity of 9.9% over last 3 years
  • Operating margins have contracted to 43.8% from 65.9%
  • Company has delivered a poor profit growth of 3.2% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution
Part ofNIFTY CPSENIFTY DIV OPPS 50NIFTYLARGEMIDCAP250NIFTYMIDCAP150NIFTY MIDCAP 100
S.No.Name
1.ADANIPOWER213.0028.82410764.000.004866.6047.2418901.8933.9717.7942.67
2.NTPC337.0011.77326777.652.676896.44-88.7150740.967.818.5233.23
3.POWERGRID272.0015.91252976.423.313598.42-0.8911496.722.689.7482.97
4.ADANIGREEN1308.00120.77215450.640.00983.0019.304431.0016.619.9091.24
5.ADANIENSOL1393.0058.36170357.560.0012365.602194.4397110.801324.069.7131.27
6.TATAPOWER367.0030.35117268.960.681400.8610.9819051.265.6311.6321.53
7.JSWENERGY532.0049.5897541.280.38532.70-36.275207.131.248.5055.22
8.NHPC76.4020.2176744.072.111178.094.153808.3118.506.1661.80
9.NTPCGREEN87.74121.8173932.620.00304.8438.261106.8662.723.7391.95
10.TORNTPOWER1295.6528.0965288.261.54661.85-10.758124.152.7514.3718.93
11.NLCINDIA270.4011.6837494.651.42436.33-48.014716.7523.2911.2732.83
12.ACMESOLAR396.9546.5028059.380.05235.3379.88857.5067.819.2385.63
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
2,7572,9312,0561,8872,6943,0522,2872,3473,2143,3652,2212,8163,808
1,2531,1631,3037351,0851,2471,2721,1421,4121,3382,0091,6202,662
Operating Profit1,5051,7687521,1521,6091,8051,0151,2051,8022,0272121,1961,147
OPM %54.57%60.32%36.59%61.03%59.74%59.15%44.39%51.34%56.06%60.23%9.53%42.48%30.11%
253183494433344350330211229265272305151
Interest109116133365244308649-12261278310574606
Depreciation294295296299296285297315436441457642600
Profit before Tax1,3551,5408179211,4131,5623991,1131,3341,572-2832851,299
Tax %22.05%-4.87%35.00%54.93%28.23%38.74%26.10%22.21%29.02%34.09%-202.46%-640.55%28.91%
Net Profit1,0951,693001,1081,0693309201,1311,2193,2061,5491,178
1.031.540.480.541.020.900.230.851.061.020.221.451.09

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
8,6237,7558,98310,0089,6489,14410,6079,63110,38011,61512,210
3,7243,5173,9834,4694,4444,3244,7414,6945,0506,5317,629
Operating Profit4,8994,2385,0005,5395,2044,8205,8664,9375,3305,0844,581
OPM %56.81%54.64%55.66%55.34%53.94%52.71%55.30%51.26%51.35%43.77%37.52%
2,2271,1951,7502161,1651751,1132,0031,8172,206993
Interest1,1339249388785775865237451,1891,4231,768
Depreciation1,4621,4691,6581,6141,2921,1901,2151,1841,1931,9762,140
Profit before Tax4,5353,0404,1593,2664,4953,2175,2375,0154,7673,8942,873
Tax %23.25%8.39%31.82%-2.43%19.91%-17.31%18.64%20.25%28.43%-8.39%-11.77%
Net Profit3,4802,7852,8363,3453,6003,7744,2614,0003,4124,2203,212
EPS2.742.452.542.873.263.513.893.582.993.75—
Dividend Payout %60.96%57.13%56.50%52.23%49.12%51.60%47.61%53.08%63.81%42.95%—

COMPOUNDED SALES GROWTH

10 Years:
3%
5 Years:
4%
3 Years:
3%

COMPOUNDED PROFIT GROWTH

10 Years:
4%
5 Years:
3%
3 Years:
-1%

STOCK PRICE CAGR

10 Years:
12%
5 Years:
23%
3 Years:
15%
1 Year:
-7%

RETURN ON EQUITY

10 Years:
10%
5 Years:
11%
3 Years:
10%
Last Year:
10%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Aug 12

₹ 0.02

Rs.0.2100 per share(2.1%)Final Dividend

2026

Feb 10

₹ 0.14

Rs.1.4000 per share(14%)Interim Dividend

2025

Aug 14

₹ 0.05

Rs.0.5100 per share(5.1%)Final Dividend

2025

Feb 13

₹ 0.14

Rs.1.4000 per share(14%)Interim Dividend

2024

Aug 12

₹ 0.05

Rs.0.5000 per share(5%)Final Dividend

2024

Feb 22

₹ 0.14

Rs.1.4000 per share(14%)Interim Dividend

2023

Aug 22

₹ 0.04

Rs.0.4500 per share(4.5%)Final Dividend

2023

Feb 17

₹ 0.14

Rs.1.4000 per share(14%) Interim Dividend

2022

Aug 10

₹ 0.05

Rs.0.5000 per share(5%)Final Dividend

2022

Feb 22

₹ 0.13

Rs.1.3100 per share(13.1%)Interim Dividend

2021

Sep 16

₹ 0.03

Rs.0.3500 per share(3.5%)Final Dividend

2021

Feb 22

₹ 0.12

Rs.1.2500 per share(12.5%)Interim Dividend

2020

Sep 17

₹ 0.03

Rs.0.3200 per share(3.2%)Final Dividend

2020

Feb 17

Rs.1.1800 per share(11.8%)Interim Dividend

2018

Sep 12

Rs.0.2800 per share(2.8%)Final Dividend

2018

Feb 20

Interim Dividend

2017

Sep 13

₹ 0.01

Rs.0.1000 per share(1%)Final Dividend

2017

Jan 19

₹ 0.17

Interim Dividend

2016

Sep 8

₹ 0.15

Rs.1.5000 per share(15%)Final Dividend

2016

Feb 18

Rs.0.9200 per share(9.2%)Interim Dividend

2015

Sep 10

₹ 0.04

Rs.0.4000 per share(4%)Final Dividend

2026

Aug 3

₹ 0.02

Rs.0.2100 per share(2.1%)Final Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital10,25910,25910,04510,04510,04510,04510,04510,04510,04510,045
Minority Interest3,3822,9352,8682,7742,8352,8634,8745,1905,4956,968
18,75619,78220,75321,33623,00824,87626,91628,62429,62331,392
21,82821,25823,98528,34528,38331,02535,09137,43845,44757,959
Trade Payables158200196317210214235282321387
8,35610,45711,86310,00213,16712,21113,35114,12914,23916,391
Total Liabilities62,73964,89169,71072,81877,64881,23490,51195,7071,05,1711,23,142
22,22321,19624,97224,39721,98921,82122,13321,46922,16450,286
Capital Work in Progress17,58819,08715,03717,18019,16722,52231,35039,61650,39834,744
1,0201,1251,2831,3981,8422,386499479444440
101105125127134140161190257294
00000004,4202,5732,629
Cash & Bank3,4723,3192,2451,6932,2571,9582,6943,6222,7513,651
18,33520,05926,04828,02332,26032,40633,67425,91026,58431,099
Total Assets62,73964,89169,71072,81877,64881,23490,51195,7071,05,1711,23,142

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
9,4115,5264,7013,8375,7985,4265,6837,2525,0263,294
Cash from Investing-1,864-886-1,182-2,987-1,607-3,084-4,246-5,940-7,550-11,139
Cash from Financing-7,812-3,863-2,63712-3,058-638-795-9241,9048,928
-1,347-53517405867-336388-6201,082

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
67.4067.4067.4067.4067.4067.4067.4067.4061.39
8.969.388.778.819.3110.0510.3910.3512.29
10.279.379.1410.6010.6310.5410.3110.7814.54
1.281.131.131.131.131.131.131.131.13
12.0912.3212.6612.0511.5210.8710.7610.3510.64

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-10
Copy of Newspaper Publication

2026-09-10 - NHPC Limited has informed the Exchange about Copy of Newspaper Publication regarding special window for transfer and dematerialization of physical shares is submitted.

2026-09-09
General Updates

2026-09-09 - In continuation to earlier letter dated 23.03.2026 and in compliance to Regulation 30 of SEBI LODR, intimation regarding receipt of ESG Score from M/s ESG Risk Assessments & Insights Limited is submitted. The other details are given in the attached letter.

2026-09-08
Change in Auditors

2026-09-08 - NHPC Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-02
Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-09-02 - NHPC Limited has informed the Exchange that in continuation to our earlier letter dated 14.08.2023 and in compliance to Regulation 30 of SEBI LODR, disclosure regarding arbitral award pronounced by AT in the matter of M/s BGS-SGS SOMA and NHPC Limited is submitted. The details given in the attached letter.

2026-08-29
General Updates

2026-08-29 - NHPC Limited has informed the Exchange about General Updates-Revision in ESG Score of NHPC by S&P Global

2026-08-28
Shareholders meeting

2026-08-28 - NHPC Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 28, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-28
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-28 - NHPC Limited has informed the Exchange about Schedule for participation of investors conference

2026-08-28
Shareholders meeting

2026-08-28 - NHPC Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 28, 2026

2026-08-28
General Updates

2026-08-28 - NHPC Limited has informed the Exchange about appointment of Cost Auditors of Company for FY 2026-27. The other details given in the attached letter.

News

Recent coverage and analyst commentary for NHPC

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