Company Valuation: NHPC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 245,601 279,252 403,810 901,040 825,702 741,223 - -
Change - 13.7% 44.6% 123.13% -8.36% -10.23% - -
Enterprise Value (EV) 1 442,726 520,469 672,112 1,189,743 1,192,534 1,225,349 1,387,867 1,500,845
Change - 17.56% 29.14% 77.02% 0.23% 2.75% 15.07% 8.14%
P/E Ratio 7.55x 7.92x 10.4x 24.8x 30.2x 19.7x 17.7x 12.9x
PBR 0.74x 0.8x 1.09x 2.33x 2.08x 1.79x 1.69x 1.56x
PEG - 0.95x 1x -3.69x -1.2x 0.5x 1x 0.3x
Capitalization / Revenue 2.55x 3.04x 3.81x 9.35x 7.95x 6.38x 3.97x 3.59x
EV / Revenue 4.59x 5.66x 6.34x 12.4x 11.5x 10.5x 7.43x 7.27x
EV / EBITDA 10.3x 10x 10.7x 26.1x 21.6x 23.4x 12.6x 12.2x
EV / EBIT 10.9x 13x 13.3x 34.5x 27.6x 37.6x 18.2x 15.4x
EV / FCF 14.3x 35.7x -251x -1,995x -31.2x -14.8x -24x -83.5x
FCF Yield 6.98% 2.8% -0.4% -0.05% -3.21% -6.75% -4.17% -1.2%
Dividend per Share 2 1.6 1.81 1.85 1.9 1.91 1.61 2.206 2.272
Rate of return 6.54% 6.51% 4.6% 2.12% 2.32% 2.18% 2.99% 3.08%
EPS 2 3.24 3.51 3.87 3.61 2.72 3.75 4.167 5.733
Distribution rate 49.4% 51.6% 47.8% 52.6% 70.2% 42.9% 52.9% 39.6%
Net sales 1 96,479 91,888 106,074 96,322 103,799 116,153 186,787 206,553
EBITDA 1 42,852 51,874 62,681 45,640 55,199 52,359 110,406 122,540
EBIT 1 40,490 39,970 50,534 34,530 43,269 32,601 76,327 97,724
Net income 1 32,570 35,236 38,900 36,244 30,067 37,657 48,957 59,538
Net Debt 1 197,125 241,217 268,302 288,703 366,832 484,829 646,644 759,622
Reference price 2 24.45 27.80 40.20 89.70 82.20 73.79 73.79 73.79
Nbr of stocks (in thousands) 10,045,035 10,045,035 10,045,035 10,045,035 10,045,035 10,045,035 - -
Announcement Date 6/10/21 5/25/22 5/29/23 5/17/24 5/20/25 5/15/26 - -
1INR in Million2INR
Estimates

P/E Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.1x10.87x14.03x3.73% 102B
11.49x4.21x6.31x7.99% 28.92B
-25.07x8.38x18.39x4.57% 23.47B
24.14x - - 2.9% 11.53B
15.46x56.84x16.39x3.27% 11.24B
51.69x4.05x16.51x3.72% 9.19B
22.71x - - 1.34% 6.33B
33.72x0.81x2.99x3.94% 3.09B
Average 19.16x 14.19x 12.44x 3.93% 24.5B
Weighted average by Cap. 14.65x 11.84x 13.44x 4.31%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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