NHPC (NHPC) Q1 24/25 earnings summary

Executive summary

• Installed capacity reached 7,144 MW (6,971 MW hydro, 173 MW renewables) across 26 power stations, with 10,692 MW under construction and 4,215 MW under survey and investigation.

• Q1 FY'25 standalone revenue from operations was ₹2,417.88 crore, down 5.95% year-over-year; PAT stood at ₹1,023.51 crore, a 2.8% decrease.

• Consolidated revenue for Q1 FY'25 was ₹2,694.20 crore, with consolidated net profit at ₹1,108.46 crore.

• Major new initiatives include multiple solar and floating solar projects, and expansion into pumped storage schemes across several states.

• Financial results were reviewed and approved by the Board and joint statutory auditors, with no material misstatements identified.

Financial highlights

• Total income for Q1 FY'25 was ₹2,786.39 crore, down 2.23% year-over-year.

• EBITDA for Q1 FY'25 was ₹1,648 crore with a margin of 59%; PAT margin was 37%.

• Dividend payout for FY'24 was ₹1.90 per share, representing 51% of profit.

• Standalone profit before tax was ₹1,273.23 crore, and consolidated profit before tax was ₹1,420.50 crore for Q1 FY'25.

• Standalone net worth stood at ₹38,303.21 crore; consolidated net worth at ₹39,744.29 crore.

Outlook and guidance

• Targeted consolidated CAPEX for FY'25 is ₹11,762 crore, up from ₹8,652 crore in FY'24.

• Major hydro and solar projects are scheduled for commissioning between FY'25 and FY'32, with significant capacity additions expected.

• Results reflect the seasonal nature of the business, with quarterly variations expected.

• Pending finalization of new tariff orders, revenue recognition is based on existing approved capacity and operational norms.