NHPC Ltd (NHPC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↓

-3.10%

Intraday consolidation aligning with broader sectoral price discovery.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 12.3%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 9.3%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹75.17

200-Day DMA ● Overlay

₹69.72

14-Day RSI ● Overlay

41.2 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹72,073 Cr

Small cap

Stock P/E (TTM) Valuation

19.0x

Price / EPS

Book Value (₹) Assets

₹41.2

P/B: 1.7x

ROE (%) Quality

9.3%

Net Profit / Equity

ROCE (%) Efficiency

5.8%

EBIT / Capital

Dividend Yield Yield

2.24%

Face Value: ₹10

Debt / Equity Solvency

1.26x

Manageable

EPS (TTM) Per Share

₹3.78

Trailing 12M

OPM (%) Spread

43.0%

EBITDA Margin

Free Cash Flow Cash

-₹8,274 Cr

CFO - Capex

About NHPC Ltd

NHPC Ltd (NHPC) is a leading Indian enterprise operating in the Power & Utilities sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 31% × Turnover: 0.85x × Leverage: 2.26x = ROE: 9.32%

✓ Company Strengths (Pros)

• Stock is trading at an attractive price-to-book multiple of 1.7x.
• Maintains a generous dividend yield payout of 2.24%.

⚠ Key Considerations & Risks (Cons)

• Company has a high debt-to-equity ratio of 1.26x.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹12,210 Cr

Latest PAT

₹4,267 Cr

EPS (TTM)

₹3.78

OPM %

43.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	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 / Revenue	₹2,757 Cr	₹2,931 Cr	₹2,056 Cr	₹1,887 Cr	₹2,694 Cr	₹3,052 Cr	₹2,287 Cr	₹2,347 Cr	₹3,214 Cr	₹3,365 Cr	₹2,221 Cr	₹2,816 Cr	₹3,808 Cr
Operating Profit (EBITDA)	₹1,505 Cr	₹1,768 Cr	₹752.00 Cr	₹1,152 Cr	₹1,609 Cr	₹1,805 Cr	₹1,015 Cr	₹1,205 Cr	₹1,802 Cr	₹2,027 Cr	₹212.00 Cr	₹637.00 Cr	₹2,352 Cr
OPM %	55.0%	60.0%	37.0%	61.0%	60.0%	59.0%	44.0%	51.0%	56.0%	60.0%	10.0%	23.0%	62.0%
Interest Expense	₹109.00 Cr	₹116.00 Cr	₹133.00 Cr	₹365.00 Cr	₹244.00 Cr	₹308.00 Cr	₹649.00 Cr	-₹12.00 Cr	₹261.00 Cr	₹278.00 Cr	₹310.00 Cr	₹574.00 Cr	₹606.00 Cr
Depreciation	₹294.00 Cr	₹295.00 Cr	₹296.00 Cr	₹299.00 Cr	₹296.00 Cr	₹285.00 Cr	₹297.00 Cr	₹315.00 Cr	₹436.00 Cr	₹441.00 Cr	₹457.00 Cr	₹642.00 Cr	₹600.00 Cr
Profit before Tax (PBT)	₹1,394 Cr	₹1,618 Cr	₹909.00 Cr	₹1,111 Cr	₹1,500 Cr	₹1,666 Cr	₹434.00 Cr	₹1,167 Cr	₹1,518 Cr	₹1,755 Cr	₹894.00 Cr	-₹274.00 Cr	₹1,554 Cr
Net Profit (PAT)	₹1,095 Cr	₹1,693 Cr	₹623.00 Cr	₹605.00 Cr	₹1,102 Cr	₹1,060 Cr	₹330.00 Cr	₹920.00 Cr	₹1,131 Cr	₹1,219 Cr	₹321.00 Cr	₹1,549 Cr	₹1,178 Cr
EPS in ₹	₹1.03	₹1.54	₹0.48	₹0.54	₹1.02	₹0.90	₹0.23	₹0.85	₹1.06	₹1.02	₹0.22	₹1.45	₹1.09

Annual P&L (₹ Cr)	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 Cr	₹8,354 Cr	₹8,623 Cr	₹7,755 Cr	₹8,983 Cr	₹10,008 Cr	₹9,648 Cr	₹9,144 Cr	₹10,607 Cr	₹9,631 Cr	₹10,380 Cr	₹11,615 Cr	₹12,210 Cr
Expenses	₹3,087 Cr	₹3,571 Cr	₹3,739 Cr	₹3,508 Cr	₹4,002 Cr	₹5,152 Cr	₹4,371 Cr	₹5,131 Cr	₹4,423 Cr	₹4,695 Cr	₹4,857 Cr	₹7,519 Cr	₹6,982 Cr
Operating Profit	₹5,134 Cr	₹4,783 Cr	₹4,884 Cr	₹4,248 Cr	₹4,981 Cr	₹4,856 Cr	₹5,277 Cr	₹4,013 Cr	₹6,184 Cr	₹4,936 Cr	₹5,523 Cr	₹4,097 Cr	₹5,227 Cr
OPM %	62%	57%	57%	55%	55%	49%	55%	44%	58%	51%	53%	35%	43%
Interest	₹1,296 Cr	₹1,160 Cr	₹1,133 Cr	₹924.00 Cr	₹896.00 Cr	₹877.00 Cr	₹577.00 Cr	₹586.00 Cr	₹475.00 Cr	₹767.00 Cr	₹1,189 Cr	₹1,423 Cr	₹1,768 Cr
Depreciation	₹1,715 Cr	₹1,432 Cr	₹1,462 Cr	₹1,469 Cr	₹1,658 Cr	₹1,614 Cr	₹1,292 Cr	₹1,190 Cr	₹1,215 Cr	₹1,184 Cr	₹1,193 Cr	₹1,976 Cr	₹2,140 Cr
Profit before Tax	₹3,718 Cr	₹3,365 Cr	₹4,535 Cr	₹3,040 Cr	₹4,159 Cr	₹3,266 Cr	₹4,495 Cr	₹3,217 Cr	₹5,237 Cr	₹5,015 Cr	₹4,767 Cr	₹3,894 Cr	₹3,929 Cr
Net Profit	₹2,798 Cr	₹2,365 Cr	₹3,480 Cr	₹2,785 Cr	₹2,836 Cr	₹3,345 Cr	₹3,600 Cr	₹3,774 Cr	₹4,261 Cr	₹4,000 Cr	₹3,412 Cr	₹4,220 Cr	₹4,267 Cr
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

Balance Sheet (₹ Cr)	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 Cr	₹11,071 Cr	₹10,259 Cr	₹10,259 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr	₹10,045 Cr
Reserves & Surplus	₹19,687 Cr	₹20,572 Cr	₹18,756 Cr	₹19,782 Cr	₹20,753 Cr	₹21,336 Cr	₹23,008 Cr	₹24,876 Cr	₹26,916 Cr	₹28,624 Cr	₹29,623 Cr	₹31,392 Cr
Borrowings (Debt)	₹20,584 Cr	₹19,938 Cr	₹19,227 Cr	₹18,602 Cr	₹19,066 Cr	₹23,226 Cr	₹23,365 Cr	₹26,096 Cr	₹29,540 Cr	₹32,561 Cr	₹39,557 Cr	₹52,327 Cr
Total Liabilities	₹61,436 Cr	₹62,823 Cr	₹60,187 Cr	₹62,933 Cr	₹66,734 Cr	₹71,277 Cr	₹73,136 Cr	₹77,288 Cr	₹86,211 Cr	₹92,267 Cr	₹1.03 Lakh Cr	₹1.20 Lakh Cr
Fixed Assets	₹27,916 Cr	₹22,610 Cr	₹22,227 Cr	₹21,201 Cr	₹24,977 Cr	₹24,402 Cr	₹21,993 Cr	₹21,825 Cr	₹22,137 Cr	₹21,474 Cr	₹22,168 Cr	₹50,290 Cr
Total Assets	₹61,436 Cr	₹62,823 Cr	₹60,187 Cr	₹62,933 Cr	₹66,734 Cr	₹71,277 Cr	₹73,136 Cr	₹77,288 Cr	₹86,211 Cr	₹92,267 Cr	₹1.03 Lakh Cr	₹1.20 Lakh Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹4,061 Cr	₹5,971 Cr	₹8,329 Cr	₹4,696 Cr	₹3,824 Cr	₹2,993 Cr	₹5,070 Cr	₹4,590 Cr	₹4,705 Cr	₹7,252 Cr	₹5,026 Cr	₹3,294 Cr
Cash from Investing (CFI)	-₹768.00 Cr	-₹746.00 Cr	-₹1,864 Cr	-₹886.00 Cr	-₹1,182 Cr	-₹2,987 Cr	-₹1,607 Cr	-₹3,084 Cr	-₹4,191 Cr	-₹5,940 Cr	-₹7,550 Cr	-₹11,139 Cr
Cash from Financing (CFF)	-₹2,494 Cr	-₹4,000 Cr	-₹7,812 Cr	-₹3,863 Cr	-₹2,637 Cr	₹12.00 Cr	-₹3,058 Cr	-₹638.00 Cr	-₹795.00 Cr	-₹924.00 Cr	₹1,904 Cr	₹8,928 Cr
Free Cash Flow (FCF)	₹2,335 Cr	₹3,824 Cr	₹6,742 Cr	₹3,133 Cr	₹2,464 Cr	-₹639.00 Cr	₹3,012 Cr	₹888.00 Cr	-₹269.00 Cr	₹285.00 Cr	-₹3,823 Cr	-₹8,274 Cr

Efficiency 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 (DSO)	129	83	78	63	115	131	194	207	212	168	90	83
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	0
Cash Conversion Cycle (Days)	129	83	78	63	115	131	194	207	212	168	90	83
ROCE %	9%	8%	11%	8%	10%	8%	9%	6%	8%	8%	7%	6%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹57.73 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹77.90

DCF Fair Value

₹57.73

Graham Number

₹59.20

Margin of Safety

-25%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹57.73

Premium / Overvalued (Margin: -25%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹56	₹56	₹55	₹55
10%	₹57	₹57	₹56	₹56
12%	₹58	₹58	₹57	₹57
14%	₹59	₹59	₹58	₹58

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹58	Fairly Valued
Benjamin Graham Number	₹59	Market Priced
Historical Sector P/E	₹83	Discounted
EV / EBITDA Multiplier	₹82	In-Line
Free Cash Flow Yield Model	₹76	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 6/9 (Stable Financials)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

6 / 9 Pass

Altman Z-Score

3.27 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Elevated leverage at 1.26x

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Managing working capital

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 43.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

61.39%

FIIs (Foreign)

12.29%

DIIs (Domestic)

14.54%

Government

0.15%

Public / Retail

10.64%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	70.95%	70.95%	67.40%	67.40%	67.40%	67.40%	67.40%	67.40%	67.40%	67.40%	67.40%	61.39%
+ FIIs (Foreign Portfolio)	7.59%	7.38%	6.80%	8.96%	9.38%	8.77%	8.81%	9.31%	10.05%	10.39%	10.34%	12.29%
+ DIIs (Mutual Funds / Insurance)	12.93%	13.42%	11.31%	10.27%	9.76%	10.04%	10.62%	10.63%	10.54%	10.31%	10.78%	14.54%
+ Public (Retail & HNIs)	7.00%	6.73%	13.22%	12.08%	12.31%	12.65%	12.05%	11.52%	10.88%	10.77%	10.36%	10.64%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Power & Utilities.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

NHPC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

NHPC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

NHPC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹99.71

Accelerated market share capture in Power & Utilities, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹87.25

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 19x P/E.

🐻 Bear Case (15%) -12.0%

₹68.55

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Power & Utilities)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 19:04 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ NHPC Ltd (NHPC)	Target Stock	₹77.90	-3.10%	19.0x	9.3%	5.8%	1.26	₹72,073 Cr
SOLAR INDUSTRIES (I) Ltd (SOLARINDS)	Power & Utilities Operations	₹18,971.00	-0.28%	88.2x	32.6%	38.1%	0.24	₹1.76 Lakh Cr
HITACHI ENERGY INDIA Ltd (POWERINDIA)	Power & Utilities Operations	₹29,100.00	+3.37%	118.0x	21.9%	29.4%	0.02	₹1.41 Lakh Cr
Tata Power Company Ltd (TATAPOWER)	Renewables, EV Charging & Transmission	₹360.00	+0.00%	28.6x	10.2%	10.5%	1.93	₹1.12 Lakh Cr
JSW ENERGY Ltd (JSWENERGY)	Power & Utilities Operations	₹519.50	-0.70%	44.3x	7.5%	8.2%	2.50	₹88,924 Cr
NTPC GREEN ENERGY Ltd (NTPCGREEN)	Power & Utilities Operations	₹83.60	+1.35%	125.0x	2.8%	3.6%	1.67	₹75,896 Cr
TORRENT POWER Ltd (TORNTPOWER)	Power & Utilities Operations	₹1,239.80	+0.31%	27.0x	12.5%	13.7%	0.73	₹62,630 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	19:04:29 IST	✓ Live Sync
Financial Statements (10Y)	NHPC Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

NHPC Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About NHPC Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Power & Utilities)

Metric Explainer

Stock DNA Methodology

Document Title