Company Valuation: NHPC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 2,79,252 4,03,810 9,01,040 8,25,702 7,40,520 7,64,929 - -
Change - 44.6% 123.13% -8.36% -10.32% 3.3% - -
Enterprise Value (EV) 1 5,20,469 6,72,112 11,89,743 11,92,534 12,25,349 14,13,007 15,24,920 15,98,049
Change - 29.14% 77.02% 0.23% 2.75% 15.31% 7.92% 4.8%
P/E 7.92x 10.4x 24.8x 30.2x 19.7x 17.4x 13.4x 9.95x
PBR 0.8x 1.09x 2.33x 2.08x 1.79x 1.67x 1.55x 1.48x
PEG - 1x -3.69x -1.2x 0.5x 1x 0.4x 0.3x
Capitalization / Revenue 3.04x 3.81x 9.35x 7.95x 6.38x 4.2x 3.36x 3.19x
EV / Revenue 5.66x 6.34x 12.4x 11.5x 10.5x 7.77x 6.71x 6.67x
EV / EBITDA 10x 10.7x 26.1x 21.6x 23.4x 14.3x 11.9x 10.2x
EV / EBIT 13x 13.3x 34.5x 27.6x 37.6x 19.9x 15.2x 11.6x
EV / FCF 35.7x -251x -1,995x -31.2x -14.8x -44.2x 550x -1,129x
FCF Yield 2.8% -0.4% -0.05% -3.21% -6.75% -2.26% 0.18% -0.09%
Dividend per Share 2 1.81 1.85 1.9 1.91 1.61 1.901 2.345 3.066
Rate of return 6.51% 4.6% 2.12% 2.32% 2.18% 2.5% 3.08% 4.03%
EPS 2 3.51 3.87 3.61 2.72 3.75 4.375 5.7 7.65
Distribution rate 51.6% 47.8% 52.6% 70.2% 42.9% 43.5% 41.1% 40.1%
Net sales 1 91,888 1,06,074 96,322 1,03,799 1,16,153 1,81,934 2,27,403 2,39,511
EBITDA 1 51,874 62,681 45,640 55,199 52,359 98,699 1,28,196 1,57,436
EBIT 1 39,970 50,534 34,530 43,269 32,601 71,111 1,00,090 1,38,022
Net income 1 35,236 38,900 36,244 30,067 37,657 45,052 58,405 77,805
Net Debt 1 2,41,217 2,68,302 2,88,703 3,66,832 4,84,829 6,48,078 7,59,991 8,33,119
Reference price 2 27.80 40.20 89.70 82.20 73.72 76.15 76.15 76.15
Nbr of stocks (in thousands) 1,00,45,035 1,00,45,035 1,00,45,035 1,00,45,035 1,00,45,035 1,00,45,035 - -
Announcement Date 25/05/22 29/05/23 17/05/24 20/05/25 15/05/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.79x10.77x13.97x3.74% 10TCr
14.72x4.42x6.82x5.91% 2.83TCr
-23.53x7.99x16.9x4.75% 2.26TCr
23.63x - - 2.91% 1.16TCr
15.11x56.41x16.22x3.29% 1.12TCr
49.99x3.99x15.5x3.99% 874.51Cr
17.45x7.78x14.34x2.49% 801.53Cr
20.9x - - 1.46% 585.89Cr
Average 17.13x 15.23x 13.96x 3.57% 2.48TCr
Weighted average by Cap. 14.85x 11.80x 13.45x 3.98%

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