India · Delayed Price · Currency is INR NHPC Limited Earnings Call Transcripts
Fiscal Year 2026
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Power generation and revenue grew strongly year-over-year, driven by new hydro and solar capacity. Key projects like Subansiri Lower and Parbati-II saw under-recovery due to interim tariffs, but final CERC orders are expected soon. CapEx and regulated equity are set to rise with ongoing expansions.
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Power generation and revenue grew strongly year-over-year, driven by new hydro and solar capacity additions. Major projects like Parvati-II and Subansiri Lower advanced, with significant CapEx and a robust pipeline for hydro, solar, and pumped storage. Conservative revenue recognition for new projects impacts reported profits.
Fiscal Year 2025
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FY 2025 saw 7% revenue growth but a 17% PAT decline due to lower generation and one-offs. Major hydro and solar projects were commissioned, with significant progress on Subansiri and Dibang. Dividend payout stood at 19.1% of face value.
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Power generation and profits declined year-over-year due to plant outages and lower water availability, but major hydro and solar projects are progressing with clear commissioning timelines. Regulated equity is set to more than double in four years, and the company remains underleveraged with strong CapEx plans.