NHPC Limited

Who is this company?

Classified by the exchange under Utilities › Power › Power › Power Generation.

Market cap

₹72,264 cr

FY2026 revenue

₹11,615 cr

FY2026 net profit

₹4,220 cr

Net worth

₹48,405 cr

Total debt

₹52,134 cr

EPS (basic)

₹3.75

Listed

NSE · BSE

Reporting

Ind-ASApr–Mar

Peer set used on this page: 5 power generation.

Is the business growing?

Revenue growth per year

+3.7%over 7 years

Revenue growth

+11.9%vs last year

Net profit growth

+23.7%vs last year

Change in net profit since FY19

+49%

What changed recently?

Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.

A. Quarterly results

B. TTM snapshot

C. Corporate actions

Is it becoming more profitable?

EBITDA margin now

54.3%

8-year range

54.3–66.9%

ROE FY2026

9.0%

ROCE FY2026

4.7%

Is financial health improving?

Total debt

₹52,134 cr

Operating cash flow ÷ net profit

0.78×FY2026

Free cash flow

₹−8,274 cr

Current ratio

1.04×

How does it compare with peers?

Ranked against 5 power generation (FY2026, consolidated). No peer-relative rule fired for this company.

P / E

16.9×TTM to Jun 26

P / B

1.5×latest book

P / S

5.9×TTM sales

Earnings yield

5.9%TTM to Jun 26

On the trailing twelve months. Last full year: P/E 17.1× · P/S 5.7× · ROE 9.0%.

How has the stock performed?

1-year return

−16.7%

3-year return

+36.3%

5-year return

+147.2%

From 52-wk high

−17.3%

What does the technical data say?

Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.

vs 50-day avg

Below₹77

vs 200-day avg

Below₹78

RSI (14)

28.5oversold

MACD histogram

-0.4

From 52-wk high

−17.3%

From 52-wk low

0.0%

30-day volatility

15.9%ann.

6-month return

−2.4%

What should I investigate further?

Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.

• Watch
  Sharp margin drop

  EBITDA margin dropped 11.9 percentage points in a single year, from 66.2% to 54.3% — worth investigating.

  MARGIN_SHARP_DROP · conviction 75
• Watch
  Growing, but less profitably

  Revenue grew 11.9% but EBITDA margin fell 11.9 percentage points to 54.3%, so the company kept less of each rupee of revenue as operating profit.

  REVENUE_UP_MARGIN_DOWN · conviction 71
• Concern
  Margins at a multi-year low

  EBITDA margin of 54.3% is the thinnest in 7 years (prior range 62.6% to 66.9%).

  MARGIN_AT_MULTI_YEAR_LOW · conviction 65
• Watch
  Growing, but light on cash

  Revenue grew 11.9% but only 0.78× of reported profit came through as operating cash.

  GROWTH_WITH_WEAK_CASH · conviction 62
• Watch
  Stock has run ahead of the business

  Over 5 years the stock returned 19.8% a year while profit compounded at 3.3% a year.

  STOCK_RAN_AHEAD · conviction 57
• Concern
  Leverage at a multi-year high

  Debt-to-equity of 1.08× is the highest in 7 years (prior range 0.52× to 0.87×).

  LEVERAGE_AT_MULTI_YEAR_HIGH · conviction 55
• Concern
  Meaningful debt load

  Net debt is 7.69× EBITDA.

  HIGH_LEVERAGE · conviction 52
• Watch
  Unusual tax rate

  Effective tax rate of -11.2% (FY2026) is well below the ~25% corporate norm — a one-off tax item may be flattering or depressing reported profit.

  EFFECTIVE_TAX_UNUSUAL · conviction 45
• Concern
  Leverage rising

  Debt-to-equity rose from 0.87× to 1.08× year on year.

  LEVERAGE_INCREASED_YOY · conviction 42
• Watch
  Profit growing

  Reported net profit grew 23.7% (FY2025 → FY2026), but pre-tax profit was ₹2,908 — an unusually low tax charge this year accounts for most of the gain, so the underlying trend is softer than the headline.

  PROFIT_GREW_YOY · conviction 39