Nhpc Limited (NHPC) · mywealthgrid

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About

NHPC Limited generates power in India's utilities sector with a market capitalization of ₹77,246 Cr, demonstrating strong profitability with average operating margins of 45% and consistent dividend payouts. Promoter ownership stands at 61.39% as of mid-2026.

Founded: 2015
Face value: ₹10

Market cap

₹72,073 Cr

P/E

19.0×

P/B

1.7×

Dividend yield

ROE

9.3%

ROCE

4.4%

Debt / equity

1.26

OPM

45.1%

EPS (TTM)

₹3.8

Book value

₹41.3

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin volatility from −1.73% to 61.76% across recent quarters—verify what drives these swings (seasonality, one-time items, accounting treatment) and sustainability of recent peaks

D/E of 1.26 in a capital-intensive, regulated sector—confirm interest coverage ratios and refinancing terms under rate pressure

ROE of 9.29% is low relative to 45% operating margins, indicating capital intensity constrains returns—verify asset utilization and capex requirements

Stock declined 7.8% over one year—verify market concerns driving underperformance

Generated analysis · source review pending

Growth drivers

Operating margin recovered to 61.76% (Jun 2026) from −1.73% (Dec 2025); verify whether this swing reflects sustainable improvements or cyclical patterns

EPS rebounded from ₹0.22 (Dec 2025) to ₹1.45 (Mar 2026); verify what phases of revenue or cost cycle this reflects

Regular dividend payments and 12.29% FII shareholding suggest institutional confidence in cash generation

Promoter stake reduced from 67.4% (Mar 2026) to 61.39% (Jun 2026) in three months—verify if this opens institutional inflows and re-rating

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹71.8-2.1%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 45.1%
+Dividend yield of 3%
+Dividend payout of 56.1% of profit
+High promoter holding of 61.4% with no pledge

Cons

−Low return on equity of 8.8% (3-yr avg)
−Modest revenue growth of 3.8% a year over the last 5 years
−Promoter holding fell 6 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

43/100

Business quality: 34
Growth: 29

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 50 NIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7,755	8,983	10,008	9,648	9,189	10,607	9,632	10,380	11,615
	3,483	3,983	4,511	4,306	4,003	4,344	4,759	4,858	6,377
	4,273	5,000	5,497	5,342	5,186	6,263	4,873	5,522	5,238
OPM %	55.1%	55.7%	54.9%	55.4%	56.4%	59%	50.6%	53.2%	45.1%
Depreciation	1,469	1,658	1,614	1,298	1,190	1,215	1,184	1,193	1,976
Interest	923	895	796	650	532	474	402	1,189	1,423
	1,030	864	769	872	964	678	1,362	1,349	1,071
Profit before tax	—	—	3,615	4,483	3,217	5,211	5,043	4,767	3,894
Tax	255	1,324	291	901	-557	976	1,015	1,355	-327
Tax %	—	—	8%	20.1%	-17.3%	18.7%	20.1%	28.4%	-8.4%
	2,785	2,836	3,325	3,582	3,774	4,235	4,028	3,412	4,220
PAT margin %	35.9%	31.6%	33.2%	37.1%	41.1%	39.9%	41.8%	32.9%	36.3%
EPS (₹)	—	—	2.9	3.2	3.5	3.9	3.6	3	3.8
EPS adjusted (₹)	—	—	—	3.2	3.5	3.9	3.6	3	3.8
	—	—	52.4%	49.4%	51.6%	47.8%	52.6%	63.9%	42.9%
Annual report	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	11,071	10,045	10,045	10,045	10,045	10,045	10,045
Reserves	20,297	23,008	24,876	26,854	28,657	29,623	31,392
Minority interest	—	2,835	2,863	4,815	5,190	5,495	6,968
	18,417	23,350	26,075	29,488	32,493	39,434	52,134
	12,165	13,888	13,425	14,885	16,910	18,080	19,472
Total equity & liabilities	61,950	73,127	77,285	86,087	93,295	1,02,678	1,20,011
	27,814	21,989	21,821	22,133	21,469	22,164	50,286
CWIP	17,009	19,167	22,522	31,351	39,650	50,398	34,744
Investments	383	1,847	2,391	503	484	449	444
	16,744	30,125	30,551	32,101	31,692	29,667	34,537
Total assets	61,950	73,127	77,285	86,087	93,295	1,02,678	1,20,011

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	55.7%	54.9%	55.4%	56.5%	59.1%	50.5%	53.2%	45.1%
EBIT margin %	37.2%	38.8%	42%	43.5%	47.6%	38.2%	41.7%	28.1%
PAT margin %	31.6%	33.2%	37.1%	41.1%	39.9%	41.8%	32.9%	36.3%
Working capital
Receivable days	—	—	194	206	212	167	169	83
Inventory days	—	—	11	13	14	15	19	17
Payable days	—	—	18	20	20	22	24	22
NWC days	—	—	188	199	206	160	164	77
Leverage
Current ratio	—	—	1.51	1.34	1.36	1.13	1.11	1.04
Debt to EBITDA	—	—	4.37	5.03	4.7	6.67	7.14	9.96
Debt to equity	—	—	0.71	0.75	0.8	0.84	0.99	1.26
Interest coverage	4.7	5.8	7.9	9.3	12.1	12.5	4.8	3
Asset turnover	—	—	0.13	0.12	0.12	0.1	0.1	0.1
Return ratios
Return on assets %	—	—	4.9%	4.9%	4.9%	4.3%	3.3%	3.5%
Return on capital employed %	—	—	7.6%	7.2%	7.7%	6.2%	6.4%	4.4%
Return on equity %	—	—	10.8%	10.8%	11.5%	10.4%	8.6%	10.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.95%	70.95%	67.4%	67.4%	67.4%	67.4%	67.4%	67.4%	67.4%	67.4%	67.4%	61.39%
	7.59%	7.38%	6.8%	8.97%	9.38%	8.78%	8.8%	9.31%	10.05%	10.39%	10.34%	12.29%
	12.93%	13.42%	11.31%	10.27%	9.78%	10.04%	10.62%	10.65%	10.55%	10.32%	10.78%	14.55%
Government	0%	0%	0%	0%	0%	0%	0%	0%	1.13%	1.13%	1.13%	1.13%
	8.53%	8.25%	14.49%	13.36%	13.44%	13.78%	13.18%	12.64%	10.87%	10.76%	10.35%	10.64%
No. of shareholders	—	—	—	—	—	—	—	—	36,07,898	34,71,413	33,67,954	33,05,630

Promoter holding down 9.56 percentage points since Sep 2023.

5 deals · 1 Sept 2021 – 25 Jan 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Jan 2024	SOCIETE GENERALE	Block	NSE	Sell	66,45,638	₹80.40	₹53.43 Cr
25 Jan 2024	MARSHALL WACE INVESTMENT STRATEGIES EUREKA FUND	Block	NSE	Buy	66,45,638	₹80.40	₹53.43 Cr
25 Jan 2024	SOCIETE GENERALE	Block	BSE	Buy	14,39,401	₹80.40	₹11.57 Cr
25 Jan 2024	BNP PARIBAS ARBITRAGE	Block	BSE	Sell	14,39,401	₹80.40	₹11.57 Cr
1 Sept 2021	REC LIMITED	Bulk	NSE	Sell	6,17,85,467	₹27.19	₹167.99 Cr

1–5 of 5

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. BHUPENDER GUPTAExecutive Director-Chairperson-MD
Mr. SANJAY KUMAR SINGHExecutive Director
Mr. SUPRAKASH ADHIKARIExecutive Director
Mr. MAHESH KUMAR SHARMAExecutive Director
Mr. DIWAKAR NATH MISRANon-Executive - Nominee Director
Dr. Bernadette LyngdohNon - Executive Independent Director
Mr. Paresh Rasiklal RanparaDirector
Mr. Mahesh Kumar SharmaChief Financial Officer
Smt. Rupa DebCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹72.8 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹73.4	-0.5	-0.7%	₹73.4	16,391	-12	810	6950
23 Nov 2026	₹73.3	-0.5	-0.7%	₹73.3	410	+20	91	6950
29 Dec 2026	₹73.5	-0.9	-1.2%	₹73.5	12	+12	19	6950

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

25

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹14.7	62

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 13 fund houses

Held by these funds

5.88%

of the company's equity

All mutual funds

6.85%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

89 schemes · 13 fund houses

		Shares
Smallcap Fund	SBI Mutual Fund	11 Cr	843.92	1.98%	1.095%	-0
CPSE ETF	Nippon India Mutual Fund	10.72 Cr	822.35	4.32%	1.067%	+1.21 L
Contra Fund	SBI Mutual Fund	6.7 Cr	514.02	1.08%	0.667%	-0
Balanced Advantage Fund	SBI Mutual Fund	5.8 Cr	444.98	1.06%	0.577%	-0
Large Cap Fund	ICICI Prudential Mutual Fund	3.68 Cr	282.14	0.35%	0.366%	-0
Multi Asset Allocation Fund	SBI Mutual Fund	2.28 Cr	174.92	0.84%	0.227%	-0
BHARAT 22 ETF	ICICI Prudential Mutual Fund	1.88 Cr	141.29	1.42%	0.188%	-38,845
Energy Opportunities Fund	SBI Mutual Fund	1.57 Cr	120.8	1.45%	0.157%	-0

1–8 of 89

1 / 12

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

10 announcementsExport CSV

1 Oct 2026, 8:17 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	—	—
EBITDA margin %	55.7%	54.9%	55.4%	56.5%	59.1%	50.5%	53.2%	45.1%
EBIT margin %	37.2%	38.8%	42%	43.5%	47.6%	38.2%	41.7%	28.1%
PAT margin %	31.6%	33.2%	37.1%	41.1%	39.9%	41.8%	32.9%	36.3%
Working capital
Receivable days	—	—	194	206	212	167	169	83
Inventory days	—	—	11	13	14	15	19	17
Payable days	—	—	18	20	20	22	24	22
NWC days	—	—	188	199	206	160	164	77
Leverage
Current ratio	—	—	1.51	1.34	1.36	1.13	1.11	1.04
Debt to EBITDA	—	—	4.37	5.03	4.7	6.67	7.14	9.96
Debt to equity	—	—	0.71	0.75	0.8	0.84	0.99	1.26
Interest coverage	4.7	5.8	7.9	9.3	12.1	12.5	4.8	3
Asset turnover	—	—	0.13	0.12	0.12	0.1	0.1	0.1
Return ratios
Return on assets %	—	—	4.9%	4.9%	4.9%	4.3%	3.3%	3.5%
Return on capital employed %	—	—	7.6%	7.2%	7.7%	6.2%	6.4%	4.4%
Return on equity %	—	—	10.8%	10.8%	11.5%	10.4%	8.6%	10.2%

Calls	Strike	Puts
0	0	0	₹14.7	62

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Jsw Energy LimitedJSWENERGYJSWENERGY	₹88,925 Cr	₹1,64,771 Cr	₹18,965 Cr	₹10,149 Cr	53.3%	₹1,967 Cr	14.6%	8.6%	7.7%	28
Ntpc Green Energy LimitedNTPCGREENNTPCGREEN	₹76,755 Cr	₹1,06,013 Cr	₹3,285 Cr	₹2,860 Cr	86.6%	₹607 Cr	18.2%	3.3%	2.8%	-32
Nhpc LimitedNHPCNHPC	₹72,073 Cr	₹1,24,207 Cr	₹12,210 Cr	₹5,787 Cr	45.1%	₹3,797 Cr	36.3%	4.4%	9.3%	77
Nlc India LimitedNLCINDIANLCINDIA	₹35,109 Cr	₹62,911 Cr	₹18,381 Cr	₹6,125 Cr	32%	₹3,367 Cr	21.6%	8.2%	17.5%	171
Acme Solar Holdings LimitedACMESOLARACMESOLAR	₹30,577 Cr	₹49,565 Cr	₹2,370 Cr	₹2,058 Cr	88%	₹603 Cr	24.6%	8.5%	10.4%	63
Sjvn LimitedSJVNSJVN	₹22,757 Cr	₹54,860 Cr	₹5,005 Cr	₹3,492 Cr	74%	₹639 Cr	14.2%	5.9%	4.5%	100
Nava LimitedNAVANAVA	₹15,652 Cr	₹17,873 Cr	₹4,310 Cr	₹1,656 Cr	40%	₹756 Cr	24.2%	12.5%	9.6%	178
Juniper Green Energy LimitedJNPRJNPR	₹15,263 Cr	₹28,184 Cr	₹719 Cr	₹606 Cr	84.3%	₹40 Cr	5.6%	—	1.2%	—
Clean Max Enviro Energy Solutions LimitedCLEANMAXCLEANMAX	₹15,234 Cr	₹27,644 Cr	₹1,913 Cr	₹1,132 Cr	59.2%	₹94 Cr	4.5%	6.4%	2.6%	-1,192
Vedanta Power LimitedVEDPOWERVEDPOWER	₹12,814 Cr	₹18,646 Cr	₹5,453 Cr	₹1,040 Cr	19.1%	₹-1,713 Cr	-31.4%	11%	-88.4%	76
Jaiprakash Power Ventures LimitedJPPOWERJPPOWER	₹10,143 Cr	₹13,523 Cr	₹5,756 Cr	₹1,525 Cr	24.6%	₹641 Cr	8.1%	6.9%	3.6%	93
Reliance Power LimitedRPOWERRPOWER	₹8,028 Cr	₹22,840 Cr	₹7,690 Cr	₹2,361 Cr	31%	₹-319 Cr	-4.4%	6.1%	-2.1%	139

Date	Category	Subject	Filing
1 Oct 2026, 8:17 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
30 Sept 2026, 6:11 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
22 Sept 2026, 7:05 pm	Company Update General	Intimation For The Date Of Hearing In The Matter Of Scheme Of Amalgamation Between Jalpower Corporation Limited And NHPC Limited	PDF
21 Sept 2026, 3:49 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI LODR- ESG Rating	PDF
16 Sept 2026, 1:12 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI LODR- ESG Rating	PDF
15 Sept 2026, 6:18 pm	Company Update Code of Conduct under SEBI (PIT) Regulations, 2015	Announcement under Regulation 30 (LODR)-Code of Conduct under SEBI (PIT) Regulations, 2015	PDF
10 Sept 2026, 5:11 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
9 Sept 2026, 5:37 pm	Company Update General	Disclosure Under Regulation 30 Of SEBI LODR Regulations, 2015- ESG Score	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5,971	8,329	4,696	3,546	5,073	6,472	4,692	6,938	5,026	3,294
	-746	-1,864	-886	-908	-1,530	-4,966	-4,246	-5,968	-7,550	-11,139
	-4,000	-7,812	-3,863	-2,615	-3,138	-638	-741	-581	1,904	8,928
Net cash flow	—	—	—	—	405	867	-295	388	-620	1,082
Free cash flow	—	—	—	—	3,091	1,457	-268	-60	-3,825	-8,279
CFO / Operating profit %	—	—	109.9%	70.9%	94.9%	124.8%	74.9%	142.5%	91.1%	62.9%

Nhpc Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

3

25

Fund holders

Documents

Announcements

Events

Announcements

3

25

Announcements

Annual reports

Investor Presentation and earnings call

29

1

Compounded sales growth

Compounded profit growth

Return on equity

Nhpc Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Futures3

Option chain25

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Futures3

Option chain25

Announcements

Annual reports

Investor Presentation and earnings call

Dividends29

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

3

25

3

25

29

1