NHPC Ltd
NSE:NHPC
NHPC Ltd
NHPC Ltd., formerly known as the National Hydroelectric Power Corporation, stands as a pivotal entity in India's energy landscape, symbolizing the evolution of sustainable power generation in the subcontinent. Established in 1975, NHPC has unwaveringly devoted itself to harnessing the natural flow of water to produce electricity. This transition has not only helped in offsetting India's carbon footprint but also in meeting the burgeoning energy demands of a rapidly growing economy. Currently, NHPC operates an array of hydropower projects scattered across the country, each strategically located to maximize the energy derived from India's diverse and ample river systems. Their portfolio includes a mixture of profitable operational projects and ventures under development, showcasing a blend of ambitious foresight and operational acumen.
The way NHPC generates revenue is intricately tied to its strategic prowess in optimizing hydropower. With over 7000 megawatts of commissioned hydroelectric power capacity, NHPC sells this renewable energy to various state utilities and commercial entities under long-term power purchase agreements. These arrangements not only ensure a steady cash inflow but also mitigate the risks associated with volatile energy markets. Furthermore, NHPC's involvement in designing, developing, and executing large infrastructure projects forms another revenue stream, as the company often forays into joint ventures and collaborations that leverage its expertise in civil, mechanical, and electrical engineering. Through a keen focus on both sustainability and profitability, NHPC Ltd. has cemented its role as a linchpin in India's quest for greener, self-sufficient energy alternatives.
NHPC Ltd., formerly known as the National Hydroelectric Power Corporation, stands as a pivotal entity in India's energy landscape, symbolizing the evolution of sustainable power generation in the subcontinent. Established in 1975, NHPC has unwaveringly devoted itself to harnessing the natural flow of water to produce electricity. This transition has not only helped in offsetting India's carbon footprint but also in meeting the burgeoning energy demands of a rapidly growing economy. Currently, NHPC operates an array of hydropower projects scattered across the country, each strategically located to maximize the energy derived from India's diverse and ample river systems. Their portfolio includes a mixture of profitable operational projects and ventures under development, showcasing a blend of ambitious foresight and operational acumen.
The way NHPC generates revenue is intricately tied to its strategic prowess in optimizing hydropower. With over 7000 megawatts of commissioned hydroelectric power capacity, NHPC sells this renewable energy to various state utilities and commercial entities under long-term power purchase agreements. These arrangements not only ensure a steady cash inflow but also mitigate the risks associated with volatile energy markets. Furthermore, NHPC's involvement in designing, developing, and executing large infrastructure projects forms another revenue stream, as the company often forays into joint ventures and collaborations that leverage its expertise in civil, mechanical, and electrical engineering. Through a keen focus on both sustainability and profitability, NHPC Ltd. has cemented its role as a linchpin in India's quest for greener, self-sufficient energy alternatives.
Revenue Growth: NHPC reported 9-month revenue of INR 8,800 crores, up 10% year-over-year, mainly due to new hydropower capacity coming online.
Capacity Expansion: 2,100 MW of new capacity targeted for FY '26; major additions from Parbati II and Subansiri Lower projects. Solar capacity is also ramping up.
Profit Increase: 9-month PAT rose 7% to INR 2,306 crores versus last year.
CapEx Acceleration: CapEx for 9 months reached INR 8,844 crores; full-year plan is INR 13,300 crores, with further increases to INR 15,000 crores next year.
Tariff Uncertainty: Only 80% of estimated revenue is recognized from Parbati II and Subansiri until final tariff approval, delaying full profit recognition.
Strong Project Pipeline: NHPC has multiple large hydro, solar, and pump storage projects in advanced stages; 10,000 MW of new hydro projects expected to start in FY '26–'27.
Solar and RE Push: Over 1,000 MW of solar to be commissioned this year; additional 1,190 MW of solar in construction.
No Under-Recoveries: Management confirmed there are no material under-recoveries and incentives are up due to better subsidiary performance.
