77.8200 -0.27 (-0.35%)
NSE Sep 05, 2025 15:59 PM
Volume: 7.0M
 

77.82
-0.35%
Motilal Oswal
6 September 2018 NHPCs consolidated PAT declined ~17% YoY to INR25b in FY18. It was impacted periods revenue reversal at Parbati-III U-IV plant; (b) lower other income due to lower treasury and lower late-payment surcharge income; and (c) lower Stripping out the other income, prior-period items, one-offs and shutdown impact, the standalone (S/A) generation PAT grew by a healthy 19% YoY (Exhibit 1) even as regulated equity remained unchanged. Core (i.e. generation business) RoE on regulated equity increased ~200bp YoY to ~15%. We calculate O&M; under-recovery reduced on lower cost (Exhibit 2) and with a normative annual increase in O&M; allowance. Standalone (S/A) debtor days continue to improve, down to 67 days in FY18 from 75 days in FY17, and with a peak of 141 days in FY13, releasing INR5.8b. But INR5.4b payment to a contractor under arbitration offset this benefit. Cash capex was INR15.3b while the rest was allocation of cost through P&L;.
NHPC Ltd. has an average target of 128.00 from 2 brokers.
More from NHPC Ltd.
Recommended