Q3 2026 NHPC Ltd Earnings Call Transcript
Key Points
- NHPC Ltd (BOM:533098) reported a 15% increase in power generation for the nine months ended December 31, 2025, primarily due to the commissioning of the Parbati II Power Station.
- The company achieved a 10% increase in revenue, reaching INR8,800 crore compared to INR8,033 crore in the previous year.
- NHPC Ltd (BOM:533098) successfully commissioned two units of the Subansiri Lower project, with plans to commission additional units soon.
- The company has fully commissioned its largest operational solar power project, the 300-megawatt Karnisar Solar project, demonstrating its commitment to renewable energy.
- NHPC Ltd (BOM:533098) is actively expanding its project pipeline, with several new hydro and solar projects expected to start in the near future, totaling around 10,000 megawatts.
- The plant availability factor decreased by 3% due to shutdowns during the monsoon season, affecting several power stations.
- Revenue for Q3 FY26 decreased by 3% compared to the previous year, attributed to a decrease in sales related to previous years' pay anomalies and interest on arbitration.
- Other income for the nine months fell by 25%, mainly due to a decrease in business interruption loss realization against insurance claims.
- The company faces geological challenges in some projects, such as the Teesta VI project, which could potentially delay progress.
- NHPC Ltd (BOM:533098) is experiencing delays in signing PPAs for solar projects due to connectivity issues and changing requirements from DISCOMs.
Ladies and gentlemen, good day and welcome to Q3 FY26 NHPC Limited earnings conference call hosted by Elara Securities Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Rupesh Sanke from Elara Securities. Thank you and over to you sir.
Good afternoon, everyone. On behalf of Elara Securities, we welcome you all for the Q3 FY26 conference call of NHPC.
I take this opportunity to welcome the management of NHPC, represented by Mr. Bhupender Gupta, Chairman and Managing Director, Mr. Uttam Lal, Director Personnel, Mr. Sanjay Kumar Singh, Director Projects, Mr. Suprakash Adhikari, Director Technical, Mr. Mahesh Kumar Sharma, Director Finance.
We will begin the call with a brief overview by the management, followed by a Q&A session. I will now hand over the call to Mr. Bhupender Gupta, sir, for his opening remarks. Over to you, sir.
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