NHPC (NHPC) Q4 22/23 earnings summary

Executive summary

• Standalone PAT reached a record ₹3,833.79 crore in FY23, up 8.37% YoY; consolidated PAT was ₹4,234.74 crore, versus ₹3,774.33 crore.

• Generation reached 24,907 MUs, the second-highest annual total, while plant availability hit a record 88.75%.

• Growth plans span major hydro construction, Nepal projects, solar, pumped storage and pilot green hydrogen initiatives.

Financial highlights

• Standalone total income was ₹10,150.90 crore, up from ₹9,335.40 crore; revenue from operations was ₹9,316.34 crore versus ₹8,309.22 crore.

• Standalone expenses rose to ₹5,567.30 crore from ₹5,288.54 crore; finance costs fell to ₹476.16 crore from ₹531.75 crore.

• Standalone total comprehensive income was ₹3,830.42 crore, versus ₹3,550.47 crore; consolidated total income was ₹11,284.90 crore and expenses ₹6,028.22 crore.

• Adjusted energy sales, excluding prior-year sales, were ₹8,592.30 crore versus ₹7,891.89 crore; reported energy sales include ₹532.55 crore of prior-year sales.

Outlook and guidance

• Targeted commissioning of 2,000 MW Subansiri Lower and 800 MW Parbati-II in FY24; both projects are in advanced construction and commissioning stages.

• Nine hydro projects totaling 9,314 MW were under construction, including 5,680 MW on a standalone basis and 3,634 MW through subsidiaries/JVs.

• Six projects totaling 4,112 MW were at clearance or approval stages; further hydro projects and investigation work extend the development pipeline.

• Solar projects totaling 1,000 MW under EPC were expected to commission in phases in FY24 and FY25, subject to module availability and transmission infrastructure.

• Planned pilot green hydrogen projects in Ladakh and Himachal Pradesh, alongside development of pumped storage projects across several states.