NHPC Ltd
NSE: NHPC · Power Generation · sector
₹70.56NSE close 2026-10-26
Key numbers
Market cap₹70,878 cr
Price₹70.56
52w high / low₹87 / ₹70
P/E18.7xSector median 18.7x
P/B1.7xSector median 1.5x
Book value₹41.2
Dividend yield3.33%Sector median 1.39%
ROE9.4%Sector median 4.5%
ROCE5.0%Sector median 6.2%
OPM47.4%Sector median 33.3%
Debt / equity1.26xSector median 0.90x
EV/EBITDA20.6xSector median 9.8x
Interest cover2.6x
Current ratio1.04x
Sales growth 3y+3.1%Sector median +3.1%
Profit growth 3y-1.1%Sector median +19.3%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 35 companies in Power Generation (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹3,662 cr vs borrowings ₹52,134 cr (FY26): borrowings are higher by ₹48,472 cr.
- Borrowings rose in each of the last 3 years (₹29,488 cr → ₹52,134 cr).
- Operating profit covered interest 2.6x in the last 12 months.
- No promoter shares are pledged.
- Promoter holding fell by 6.01 percentage points in a year, to 61.39% (2026-09-30).
- Operating cash flow was below net profit in 1 of the last 5 years (FY26).
- Revenue was higher than a year earlier in 3 of the last 4 quarters.
- Other income was 26% of net profit in the last 12 months.
- Debtor days went from 167 (FY24) to 83 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹70.56 on 2026-10-26: -19.2% from the 52-week high, +0.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹94.95 · low ₹70.56
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3,052 | 2,287 | 2,347 | 3,214 | 3,365 | 2,221 | 2,816 | 3,808 |
| EBITDA | 1,799 | 1,021 | 1,090 | 1,802 | 2,027 | 212 | 1,196 | 2,352 |
| OPM % | 58.9% | 44.7% | 46.5% | 56.1% | 60.2% | 9.5% | 42.5% | 61.8% |
| Other income | 350 | 330 | 325 | 229 | 265 | 272 | 305 | 151 |
| Net profit | 909 | 231 | 854 | 1,065 | 1,021 | 219 | 1,460 | 1,096 |
| EPS (₹) | 0.90 | 0.23 | 0.85 | 1.06 | 1.02 | 0.22 | 1.45 | 1.09 |
| Revenue YoY | +10.3% | -2.9% | +20.0% | +18.5% | ||||
| Profit YoY | +12.4% | -5.2% | +71.1% | +2.9% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 9,189 | 10,607 | 9,632 | 10,380 | 11,615 | 12,210 |
| EBITDA | 5,187 | 6,268 | 4,868 | 5,520 | 5,236 | 5,787 |
| Net profit | 3,524 | 3,890 | 3,624 | 3,007 | 3,766 | 3,797 |
| EPS (₹) | 3.51 | 3.87 | 3.61 | 2.99 | 3.75 | 3.78 |
| Revenue growth | +15.4% | -9.2% | +7.8% | +11.9% | +12.0% | |
| Profit growth | +10.4% | -6.8% | -17.0% | +25.2% | +24.1% | |
| Dividend / share (₹) | 1.66 | 1.90 | 1.85 | 1.90 | 1.91 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +3.1% | +3.8% | +12.0% |
| Net profit | -1.1% | +2.9% | +24.1% |
| EPS | -1.0% | +3.0% | – |
| Share price | – | -5.9% (2y) | -15.9% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 36,899 | 38,702 | 39,668 | 41,437 |
| Borrowings | – | 29,488 | 32,493 | 39,434 | 52,134 |
| Cash & equivalents | – | 2,845 | 3,635 | 2,751 | 3,662 |
| Total assets | – | 86,087 | 93,295 | 1,02,678 | 1,20,011 |
| Fixed assets | – | 22,129 | 21,467 | 22,157 | 50,276 |
| Capital work in progress | – | 31,350 | 39,650 | 50,398 | 34,744 |
| Investments | – | 347 | 454 | 427 | 405 |
| Receivables | – | 6,161 | 4,420 | 4,793 | 2,629 |
| Inventory | – | 161 | 190 | 257 | 294 |
| Payables | – | 235 | 282 | 321 | 387 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 6,472 | 4,692 | 6,938 | 5,026 | 3,294 |
| Cash from investing | -4,966 | -4,246 | -5,968 | -7,550 | -11,139 |
| Cash from financing | -638 | -741 | -581 | 1,904 | 8,928 |
| Capex | 5,014 | 4,960 | 6,997 | 8,851 | 11,572 |
| Free cash flow | 1,457 | -268 | -60 | -3,825 | -8,279 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 10.5% | 9.4% | 7.6% | 9.1% |
| ROCE % | – | 8.6% | 7.1% | 7.2% | 4.6% |
| Debtor days | – | 212 | 167 | 169 | 83 |
| Inventory days | – | 6 | 7 | 9 | 9 |
| Payable days | – | 8 | 11 | 11 | 12 |
| Cash conversion cycle (days) | – | 210 | 163 | 167 | 80 |
| Working capital days | – | 97 | 49 | 38 | 18 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 61.39% |
| FIIs | 13.17% |
| DIIs | 14.27% |
| of which Mutual funds | 7.01% |
| of which Insurance | 6.78% |
| Government | 1.13% |
| Public (non-institutions) | 10.04% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 67.40% | 67.40% | 67.40% | 67.40% | 67.40% | 67.40% | 61.39% | 61.39% |
| Promoter group | % |
|---|---|
| President of India | 61.39% |
| Power Finance Corporation Ltd | 1.02% |
| Public holders above 1% | % |
|---|---|
| LIC NEW Endowment Plus-growth Fund | 5.31% |
| SBI Contra Fund | 2.92% |
| NEW World Fund INC | 1.49% |
| Bharat 22 ETF | 1.28% |
| Nippon Life India Trustee Ltd- A/C Nippon India VI | 1.22% |
32,17,977 shareholders. Pledged: 0.00% of promoter shares.
Peers in Power Generation
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NTPC | ₹2,90,900 cr | 10.5x | 1.4x | 14.3% | 8.7% | 30.9% | +2.1% | 3.01% |
| ADANIGREEN | ₹2,05,875 cr | 113.6x | 9.5x | 9.1% | 7.3% | 86.3% | +18.4% | 0.16% |
| JSWENERGY | ₹82,396 cr | 40.1x | 2.7x | 6.8% | 7.2% | 53.2% | +22.3% | 0.44% |
| NHPC | ₹70,878 cr | 18.7x | 1.7x | 9.4% | 5.0% | 47.4% | +3.1% | 3.33% |
| NTPCGREEN | ₹68,877 cr | 115.1x | 3.6x | 3.2% | 3.6% | 87.1% | – | – |
| NLCINDIA | ₹31,803 cr | 9.6x | 1.5x | 15.7% | 9.0% | 33.3% | +2.7% | 2.31% |
| ACMESOLAR | ₹26,965 cr | 39.0x | 5.3x | 12.6% | 8.6% | 87.6% | – | 0.09% |
| SJVN | ₹19,256 cr | 30.2x | 1.4x | 4.5% | 5.5% | 69.8% | +15.5% | 2.97% |
| CLEANMAX | ₹13,612 cr | 127.6x | 2.9x | 2.0% | 5.4% | 59.2% | – | – |
| NAVA | ₹13,449 cr | 17.8x | 1.5x | 9.2% | 13.3% | 38.4% | +6.7% | 3.68% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-12 | Dividend | Dividend - Re 0.21 Per Sh |
| 2026-02-10 | Dividend | Interim Dividend - Rs 1.40 Per Share |
| 2025-08-14 | Dividend | Dividend - Rs 0.51 Per Share |
| 2025-02-13 | Dividend | Interim Dividend - Rs 1.4 Per Share |
| 2024-08-12 | Dividend | Dividend - Re 0.50 Per Share |
| 2024-08-12 | Other | Annual General Meeting |
| 2024-02-22 | Dividend | Interim Dividend - Rs 1.40 Per Share |
| 2023-08-22 | Dividend | Dividend - Rs 0.45 Per Share |
| 2023-08-22 | Other | Annual General Meeting |
| 2023-02-17 | Dividend | Interim Dividend - Rs 1.40 Per Share |
| 2022-08-10 | Dividend | Dividend - Rs 0.50 Per Share |
| 2022-08-10 | Other | Annual General Meeting |
| 2022-02-22 | Dividend | Interim Dividend - Rs 1.31 Per Share |
| 2021-09-16 | Dividend | Dividend - Rs 0.35 Per Share |
| 2021-09-16 | Other | Annual General Meeting |
| 2021-02-22 | Dividend | Interim Dividend - Rs 1.25 Per Share |
| 2020-09-17 | Dividend | Dividend - Rs 0.32 Per Share |
| 2020-09-17 | Other | Annual General Meeting |
| 2020-02-17 | Dividend | Int Dividend - Rs 1.18 Per Share |
| 2019-09-12 | Dividend | Annual General Meeting/Dividend - Rs 0.75 Per Share |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY25
- Annual report FY24
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Electric power generation: Power generation by hydro-electric power plants
- Electric power generation: Power generation by wind power plants
- Electric power generation: Power generation by solar power plants
- Electric power generation: Power trading business
- Electric power generation: Consultancy services
| Sector | Utilities |
| Industry | Power Generation |
| Sub-industry | Power Generation |
| Symbol | NHPC |
| BSE code | 533098 |
| ISIN | INE848E01016 |
| Face value | ₹10.0 |
| Incorporated | 1975-11-07 |
| Website | www.nhpcindia.com |
| Plants (India / abroad) | 35 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.