Company Valuation: NHPC Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 245,601 279,252 403,810 901,040 825,702 790,846 - -
Change - 13.7% 44.6% 123.13% -8.36% -4.22% - -
Enterprise Value (EV) 1 442,726 520,469 672,112 1,189,743 1,192,534 1,225,349 1,437,489 1,550,468
Change - 17.56% 29.14% 77.02% 0.23% 2.75% 14.48% 7.86%
P/E 7.55x 7.92x 10.4x 24.8x 30.2x 19.7x 19.2x 13.5x
PBR 0.74x 0.8x 1.09x 2.33x 2.08x 1.79x 1.8x 1.67x
PEG - 0.95x 1x -3.69x -1.2x 0.5x 1.2x 0.3x
Capitalization / Revenue 2.55x 3.04x 3.81x 9.35x 7.95x 6.38x 4.23x 3.7x
EV / Revenue 4.59x 5.66x 6.34x 12.4x 11.5x 10.5x 7.7x 7.25x
EV / EBITDA 10.3x 10x 10.7x 26.1x 21.6x 23.4x 13x 12.1x
EV / EBIT 10.9x 13x 13.3x 34.5x 27.6x 37.6x 18.8x 14.4x
EV / FCF 14.3x 35.7x -251x -1,995x -31.2x -14.8x -24.8x -86.2x
FCF Yield 6.98% 2.8% -0.4% -0.05% -3.21% -6.75% -4.03% -1.16%
Dividend per Share 2 1.6 1.81 1.85 1.9 1.91 1.61 2.206 2.363
Rate of return 6.54% 6.51% 4.6% 2.12% 2.32% 2.18% 2.8% 3%
EPS 2 3.24 3.51 3.87 3.61 2.72 3.75 4.101 5.85
Distribution rate 49.4% 51.6% 47.8% 52.6% 70.2% 42.9% 53.8% 40.4%
Net sales 1 96,479 91,888 106,074 96,322 103,799 116,153 186,787 213,833
EBITDA 1 42,852 51,874 62,681 45,640 55,199 52,359 110,406 127,750
EBIT 1 40,490 39,970 50,534 34,530 43,269 32,601 76,327 107,718
Net income 1 32,570 35,236 38,900 36,244 30,067 37,657 48,300 59,087
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 78.73 78.73 78.73
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 10/06/21 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.($)
22.25x9.7x18.09x2.26% 8.28B
19.46x11.07x14.3x3.63% 105B
11.82x4.27x6.57x7.83% 29.41B
-21.2x7.85x17.07x4.79% 22.35B
25.66x - - 2.65% 12.63B
15.67x53.28x15.71x2.98% 11.41B
48.71x3.9x15.81x3.88% 8.87B
21.81x - - 1.4% 6.09B
23.75x - - - 1.86B
Average 18.66x 15.01x 14.59x 3.68% 22.92B
Weighted average by Cap. 15.61x 11.79x 13.74x 4.15%

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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