Results     26-May-22
Analysis
NHPC
Net up 6%
Consolidated net sales of NHPC for the quarter ended Mar 2022  has increased 4.05% to Rs 1674.31 crore.  Operating profit margin has declined from 58.05% to 37.63%, leading to 32.56% decline in operating profit to Rs 629.97 crore.  Employee cost increased from 22.51% to 30.55%.   Other expenses fell from 41.74% to 38.38%.   Power and Oil fuel cost fell from 8.22% to 8.07%.   Other income fell 28.24% to Rs 352.31 crore.  PBIDT fell 31.07% to Rs 982.28 crore.  Provision for interest fell 2.70% to Rs 133.53 crore.  PBDT fell 34.09% to Rs 848.75 crore.  Provision for depreciation rose 21.13% to Rs 296.31 crore.  Profit before tax down 47.04% to Rs 552.44 crore.  Provision for tax was expense of Rs 36.8 crore, compared to Rs 553.51 crore.  Effective tax rate was 6.66% compared to 53.43%. Minority interest increased 21.81% to Rs 48.75 crore.  Net profit attributable to owners of the company increased 5.61% to Rs 467.15 crore.  


Standalone net sales (including other operating income) of NHPC has increased 12.25% to Rs 1,505.76 crore.  Operating profit margin has declined from 35.03% to 33.08%, leading to 5.97% rise in operating profit to Rs 498.03 crore.  Employee cost increased from 25.73% to 33.10%.   Other expenses fell from 40.36% to 38.77%.   Power and Oil fuel cost fell from 9.78% to 8.91%.   Other income up 13.61% to Rs 501.72 crore.  PBIDT rose 9.67% to Rs 999.75 crore.  Provision for interest fell 2.73% to Rs 133.14 crore.   PBDT rose 11.86% to Rs 866.61 crore.  Provision for depreciation rose 21.71% to Rs 280.26 crore.   Profit before tax grew 7.70% to Rs 586.35 crore.  Provision for tax was expense of Rs 26.26 crore, compared to Rs 128.53 crore.  Effective tax rate was 4.48% compared to 23.61%. Profit after tax rose 34.67% to Rs 560.09 crore.  

Full year results analysis.


Consolidated net sales (including other operating income) of NHPC has declined 4.76% to Rs 9188.78 crore.  Operating profit margin has declined from 56.87% to 43.28%, leading to 27.51% decline in operating profit to Rs 3,977.26 crore.  Purchase of finished goods cost fell from 2.20% to 0.49%.   Employee cost increased from 15.76% to 16.92%.   Other expenses fell from 26.33% to 26.14%.   Power and Oil fuel cost rose from 8.89% to 9.19%.   Other income fell 9.31% to Rs 964.06 crore.  PBIDT fell 24.56% to Rs 4941.32 crore.  Provision for interest fell 6.94% to Rs 532.28 crore.  PBDT fell 26.24% to Rs 4409.04 crore.  Provision for depreciation fell 7.90% to Rs 1190.3 crore.   Profit before tax down 31.30% to Rs 3,218.74 crore.  Share of profit/loss was 74.68% higher at Rs -1.39 crore.  Provision for tax was credit of Rs 556.98 crore, compared to debit of Rs 894.86 crore.  Effective tax rate was negative 17.31% compared to 19.91%. Minority interest decreased 23.57% to Rs 250.76 crore.  Net profit attributable to owners of the company increased 7.70% to Rs 3,523.57 crore.  

Standalone net sales   has declined 1.80% to Rs 8,353.80 crore.  Operating profit margin has declined from 55.89% to 40.80%, leading to 28.31% decline in operating profit to Rs 3,408.23 crore.   Other income fell 11.23% to Rs 1026.18 crore.  PBIDT fell 24.97% to Rs 4434.41 crore.  Provision for interest fell 6.95% to Rs 531.75 crore.   PBDT fell 26.90% to Rs 3902.66 crore.  Provision for depreciation down 8.34% to Rs 1126.22 crore.   Profit before tax down 32.45% to Rs 2,776.44 crore.  Provision for tax was credit of Rs 761.27 crore, compared to debit of Rs 680.13 crore.  Effective tax rate was negative 27.42% compared to 17.33%. Profit after tax rose 9.02% to Rs 3,537.71 crore.  

Other developments

Equity capital stood at Rs 10,045.03 crore as of 31 March 2022 to Rs 10,045.03 crore as of 31 March 2021.  Per share face Value remained same at Rs 10.00.  

Promoters’ stake was 70.95% as of 31 March 2022 ,compared to 70.95% as of 31 March 2021 .  

Loan funds rose to Rs 26,095.95 crore as of 31 March 2022 from Rs 23,365.24 crore as of 31 March 2021.  Inventories rose to Rs 140.44 crore as of 31 March 2022 from Rs 133.69 crore as of 31 March 2021.  Sundry debtors were higher at Rs 5,175.84 crore as of 31 March 2022 compared to Rs 5,133.42 crore as of 31 March 2021.  Cash and bank balance declined from Rs 2,256.82 crore as of 31 March 2021 to Rs 1,958.35 crore as of 31 March 2022.  Investments rose to Rs 2,386.50 crore as of 31 March 2022 from Rs 1,842.24 crore as of 31 March 2021 .  Fixed assets increased to Rs 44,343.72 crore as of 31 March 2022 from Rs 41,156.52 crore as of 31 March 2021.  Intangible assets increased from Rs 3.69 crore to Rs 3.79 crore. 

Cash flow from operating activities increased to Rs 6,471.79 crore for year ended March 2022 from Rs 5,072.80 crore for year ended March 2021.  Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 5,014.48 crore, compared to Rs 1,981.96 crore during the year ended March 2021.  



NHPC : Consolidated Results
 Quarter endedYear ended
Particulars202203202103Var.(%)202203202103Var.(%)
Net Sales (including other operating income)1,674.311,609.174.059,188.789,647.89-4.76
OPM (%)37.6358.05-2,042 bps43.2856.87-1,359 bps
OP629.97934.06-32.563,977.265,486.72-27.51
Other Inc.352.31490.95-28.24964.061,062.97-9.31
PBIDT982.281,425.01-31.074,941.326,549.69-24.56
Interest133.53137.23-2.70532.28572.00-6.94
PBDT848.751,287.78-34.094,409.045,977.69-26.24
Depreciation296.31244.6321.131190.31292.46-7.90
PBT552.441,043.15-47.043218.744685.23-31.30
Share of Profit/(Loss) from Associates0.26-7.29LP-1.39-5.4974.68
PBT before EO552.71035.86-46.643217.354679.74-31.25
EO Income00-0-185-
PBT after EO552.71035.86-46.643217.354494.74-28.42
Taxation36.8553.51-93.35-556.98894.86LP
PAT515.9482.356.963774.333599.884.85
Minority Interest (MI)48.7540.0221.81250.76328.1-23.57
Net profit467.15442.335.613523.573271.787.70
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations467.15442.335.613523.573271.787.70
EPS (Rs)*0.360.08327.634.193.2827.68
* EPS is on current equity of Rs 10,045.03 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database
NHPC : Standalone Results
Quarter endedYear ended
Particulars202203202103Var.(%)202203202103Var.(%)
Net Sales (including other operating income)1,505.761,341.4812.258,353.808,506.58-1.80
OPM (%)33.0835.03-196 bps40.8055.89-1,509 bps
OP498.03469.965.973,408.234,754.35-28.31
Other Inc.501.72441.6213.611,026.181,155.98-11.23
PBIDT999.75911.589.674,434.415,910.33-24.97
Interest133.14136.88-2.73531.75571.49-6.95
PBDT866.61774.7011.863,902.665,338.84-26.90
Depreciation280.26230.2721.711126.221228.65-8.34
PBT586.35544.437.702776.444110.19-32.45
PBT before EO586.35544.437.702776.444110.19-32.45
EO Income00-0-185-
PBT after EO586.35544.437.702776.443925.19-29.27
Taxation26.26128.53-79.57-761.27680.13LP
PAT560.09415.934.673537.713245.069.02
P/(L) from discontinued operations net of tax00-00-
Net profit after discontinued operations560.09415.934.673537.713245.069.02
EPS (Rs)*0.480.4021.174.793.2547.09
* EPS is on current equity of Rs 10,045.03 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database
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