NHPC Ltd
NHPC Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #9 of 23 in Power
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What the Q4 FY26 call signalled
2 of 3 strong
The short version
NHPC expects significant capacity addition of 2,994 MW hydro assets in FY’27, including 1,250 MW from Subansiri (balance 1,000 MW), 120 MW Rangit-IV, 1,000 MW Pakal Dul, and 624 MW Kiru. NHPC expects strong capacity additions in FY’27 with 2,994 MW of hydro and 1,190 MW of solar assets coming online, potentially boosting revenues and profits.
From NHPC Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- NHPC expects significant capacity addition of 2,994 MW hydro assets in FY’27, including 1,250 MW from Subansiri (balance 1,000 MW), 120 MW Rangit-IV, 1,000 MW Pakal Dul, and 624 MW Kiru.
- Additionally, 1,190 MW of solar assets are planned to be commissioned in the current fiscal.
- Subansiri Lower is expected to generate 5,000 to 5,500 million units annually going forward (against 506 million units generated last fiscal).
- The company is targeting commissioning of five hydropower projects into construction stage this fiscal, including Uri-I Stage-II, Dulhasti Stage-II, Etalin, Sawalkot, and Kamala.
- Generation volumes grew 16% in FY’26, with PAF around 80% excluding Teesta-V.
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Profitability & Margins
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Capital Expenditure Plans
- NHPC is progressing with key under-construction hydro projects like Pakal Dul (1,000 MW, 80% progress), Kiru (624 MW, 82% progress), Kwar (540 MW, 33% progress), Ratle (850 MW, 29% progress), and Teesta-VI (500 MW, 72% progress).
- Estimated costs include Pakal Dul (Rs. 12,728 Crore), Kiru (Rs. 5,409 Crore), Kwar (Rs. 4,526 Crore), Ratle (Rs. 5,282 Crore), and Teesta-VI (Rs. 9,167 Crore).
- NHPC plans to start construction of Indira Sagar-Omkareshwar Pumped Storage Project (640 MW) in FY’27 and aims to bring five hydro projects into the construction stage this fiscal, including Etalin, Sawalkot, Kamala, Uri-I Stage-II, and Dulhasti Stage-II.
- Kamala HE Project (1,720 MW) in Arunachal Pradesh approved with investment of Rs. 26,070 Crore; JV formation and clearances in progress.
- Solar projects under CPSU Scheme (1,000 MW capacity) are underway with staggered commissioning through FY’26-27.
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Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- NHPC is targeting to bring five hydro projects into the construction stage in the current fiscal year.
- Two projects, Uri-I Stage-II and Dulhasti Stage-II, have already been awarded.
- Three more projects likely to move to the construction stage this fiscal are Etalin, Sawalkot, and Kamala.
- Subansiri Upper project is expected to advance next year, not in the current fiscal.
2 more points from NHPC Ltd's call on order book
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NHPC Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹2.8K Cr, net profit ₹1.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What NHPC Ltd's management said in earlier quarters
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Potential multibaggers · Q2 FY27
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on management's own guidance
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Frequently Asked Questions
What were NHPC Ltd Q4 FY26 results?
NHPC expects significant capacity addition of 2,994 MW hydro assets in FY’27, including 1,250 MW from Subansiri (balance 1,000 MW), 120 MW Rangit-IV, 1,000 MW Pakal Dul, and 624 MW Kiru. NHPC expects strong capacity additions in FY’27 with 2,994 MW of hydro and 1,190 MW of solar assets coming online, potentially boosting revenues and profits.
What is NHPC Ltd share price analysis?
NHPC Ltd currently shows a moderate growth signal based on ranking data. The stock trades at a P/E of 20.4 with a market cap of ₹77,246 Cr. Investors should review the full earnings analysis for detailed insights.
Is NHPC Ltd planning capital expenditure?
NHPC is progressing with key under-construction hydro projects like Pakal Dul (1,000 MW, 80% progress), Kiru (624 MW, 82% progress), Kwar (540 MW, 33% progress), Ratle (850 MW, 29% progress), and Teesta-VI (500 MW, 72% progress).
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.