NHPC Limited — Quarter and year ended 31 March 2026 (Standalone and Consolidated)
Optional commentary: Audited financial results are presented in ₹ crore.
| Sl.No. | Particulars | Quarter Ended 31.03.2026 (Audited) | Quarter Ended 31.12.2025 (Unaudited) | Quarter Ended 31.03.2025 (Audited) | Year Ended 31.03.2026 (Audited) | Year Ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Income | |||||
| (a) Revenue from Operations (Refer Note 4 and 5) | 2,741.25 | 1,877.47 | 2,058.54 | 10,328.26 | 8,994.26 | |
| (b) Other Income | 374.94 | 429.13 | 279.75 | 1,321.84 | 1,462.09 | |
| Total Income (a+b) | 3,116.19 | 2,306.60 | 2,338.29 | 11,650.10 | 10,456.35 | |
| 2 | Expenses | |||||
| (a) Generation Expenses | 102.42 | 125.52 | 97.47 | 818.49 | 795.84 | |
| (b) Employee Benefits Expense | 371.92 | 310.03 | 366.99 | 1,364.09 | 1,643.86 | |
| (c) Finance Costs | 585.15 | 302.14 | (30.38) | 1,408.97 | 1,147.00 | |
| (d) Depreciation, Amortization and Impairment Expense | 620.71 | 434.93 | 293.10 | 1,889.69 | 1,125.06 | |
| (e) Other Expenses (Refer Note 6) | 1,030.94 | 1,474.37 | 560.56 | 3,778.23 | 1,885.63 | |
| Total Expenses (a+b+c+d+e) | 2,711.14 | 2,646.99 | 1,287.74 | 9,259.47 | 6,597.39 | |
| 3 | Profit before Exceptional items, Movements in Regulatory Deferral Account Balances and Tax (1-2) | 405.05 | (340.39) | 1,050.55 | 2,390.63 | 3,858.96 |
| 4 | Exceptional items | – | – | – | – | – |
| 5 | Profit before tax and Movements in Regulatory Deferral Account Balances (3-4) | 405.05 | (340.39) | 1,050.55 | 2,390.63 | 3,858.96 |
| 6 | Tax Expenses (Refer Note 7 & 8) | |||||
| (a) Current Tax | 145.86 | 87.46 | 189.41 | 662.00 | 672.65 | |
| (b) Deferred Tax | (1,518.85) | 416.75 | (6.56) | (927.94) | 243.42 | |
| Total Tax Expense (a+b) | (1,372.99) | 504.21 | 182.85 | (265.94) | 916.07 | |
| 7 | Profit before movements in Regulatory Deferral Account Balances (5-6) | 1,778.04 | (844.60) | 867.70 | 2,656.57 | 2,942.89 |
| 8 | Movement in Regulatory Deferral Account Balances (Net of Tax) (Refer Note 6 and 8) | (450.50) | 1,137.47 | 26.22 | 961.23 | 141.09 |
| 9 | Profit for the period (7+8) | 1,327.54 | 292.87 | 893.92 | 3,617.80 | 3,083.98 |
| 10 | Other Comprehensive Income | |||||
| (i) Items that will not be reclassified to profit or loss (Net of Tax) | ||||||
| (a) Remeasurement of post employment defined benefit obligations | (90.44) | 7.65 | (43.12) | (67.51) | (70.55) | |
| (b) Changes in the fair value of equity investments at FVTOCI | 1.24 | (4.80) | 17.04 | (0.78) | (20.48) | |
| Total (i)=(a)+(b) | (89.20) | 2.85 | (26.08) | (68.29) | (91.03) | |
| (ii) Items that will be reclassified to profit or loss (Net of Tax) | ||||||
| (a) Changes in the fair value of debt investments at FVTOCI | 2.16 | (0.58) | 0.53 | 0.44 | (0.83) | |
| (b) Cost of Hedge Reserve | 4.78 | 6.73 | 1.13 | (7.56) | (11.03) | |
| Total (ii)=(a)+(b) | 6.94 | 6.15 | 1.66 | (7.12) | (11.86) | |
| Other Comprehensive Income (i+ii) | (82.26) | 9.00 | (24.42) | (75.41) | (102.89) | |
| 11 | Total Comprehensive Income for the period (9+10) | 1,245.28 | 301.87 | 869.50 | 3,542.39 | 2,981.09 |
| 12 | Paid-up equity share capital (of Face Value ₹ 10/- per share) | 10,045.03 | 10,045.03 | 10,045.03 | 10,045.03 | 10,045.03 |
| 13 | Other Equity excluding Revaluation Reserves | 29,927.24 | 30,088.26 | 28,303.45 | 29,927.24 | 28,303.45 |
| 14 | Net worth | 39,972.27 | 40,133.29 | 38,348.48 | 39,972.27 | 38,348.48 |
| 15 | Paid-up debt capital (Comprises Long term debts and Lease Liabilities including current maturities thereof, Short term Borrowings and Payable towards Bonds fully serviced by Government of India) | 46,323.99 | 42,195.40 | 38,019.10 | 46,323.99 | 38,019.10 |
| 16 | Capital Redemption Reserve | 2,255.71 | 2,255.71 | 2,255.71 | 2,255.71 | 2,255.71 |
| 17 | Debenture (Bond) Redemption Reserve | 685.84 | 788.66 | 788.66 | 685.84 | 788.66 |
| 18 | Earning per share (Basic and Diluted) (Equity shares, face value of ₹ 10/- each) – Excluding movements in Regulatory Deferral Account Balances (in ₹) – (not annualised) | 1.77 / 1.32 | (0.84) / 0.29 | 0.86 / 0.89 | 2.64 / 3.60 | 2.93 / 3.07 |
| 19 | Debt equity ratio (Paid-up debt capital / Shareholder’s Equity) | 1.16 | 1.05 | 0.99 | 1.16 | 0.99 |
| Sl.No. | Particulars | Quarter Ended 31.03.2026 (Audited) | Quarter Ended 31.12.2025 (Unaudited) | Quarter Ended 31.03.2025 (Audited) | Year Ended 31.03.2026 (Audited) | Year Ended 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| 20 | Debt service coverage ratio (DSCR) [Profit for the period + Finance Costs + Depreciation]/[Principal repayment of non current borrowings + Lease Payments + Finance Costs] # | 1.24 | 1.67 | 3.47 | 1.74 | 2.53 |
| 21 | Interest service coverage ratio (ISCR) Profit for the period + Finance Costs + Depreciation)/ Finance Costs. # | 3.96 | 2.85 | 104.35 | 4.27 | 3.93 |
| 22 | Current Ratio (Current Assets / Current liabilities) | 0.87 | 1.02 | 0.94 | 0.87 | 0.94 |
| 23 | Long Term Debt to working Capital ratio (Long term borrowings including current maturity of long term borrowing / {working capital excluding current maturities of long term borrowings}) | 15.96 | 10.39 | 13.65 | 15.96 | 13.65 |
| 24 | Bad Debts to Account Receivable Ratio (Bad debts / Average Trade receivables) | 0.034 | 0.031 | 0.035 | 0.033 | 0.028 |
| 25 | Current Liability Ratio (Current liabilities / Total liabilities) | 0.21 | 0.18 | 0.18 | 0.21 | 0.18 |
| 26 | Total Debts to Total Assets (Paid up debt capital / Total assets) | 0.47 | 0.44 | 0.44 | 0.47 | 0.44 |
| 27 | Debtors Turnover (Revenue from operations / Average trade receivables) – Annualised | 4.76 | 2.99 | 3.66 | 4.33 | 3.19 |
| 28 | Inventory Turnover ratio (Revenue from operations / Average inventory) – Annualised | 39.24 | 28.11 | 32.87 | 38.87 | 41.73 |
| 29 | Operating Margin (%) (Operating profit / Revenue from operations) | 37.57 | 19.35 | 38.58 | 37.05 | 41.68 |
| 30 | Net Profit Margin (%) (Profit for the period / Revenue from operations) | 48.43 | 15.60 | 43.42 | 35.03 | 34.29 |
| PARTICULARS | As at 31st March, 2026 (Audited) | As at 31st March, 2025 (Audited) | As at 1st April, 2024 (Audited) |
|---|---|---|---|
| ASSETS | |||
| (1) NON-CURRENT ASSETS | |||
| a) Property, Plant and Equipment | 44,516.98 | 16,553.02 | 16,609.67 |
| b) Capital Work In Progress | 19,067.23 | 39,834.13 | 32,862.60 |
| c) Right Of Use Assets | 2,913.85 | 2,722.02 | 2,631.81 |
| d) Investment Property | 4.49 | 4.49 | 4.49 |
| e) Intangible Assets | 9.36 | 5.66 | 1.99 |
| f) Intangible Assets under development | 203.69 | 202.38 | 180.00 |
| g) Financial Assets | |||
| i) Investments | 6,377.58 | 5,926.39 | 4,631.45 |
| ii) Trade Receivables | 0.16 | 0.63 | 2.63 |
| iii) Loans | 936.53 | 1,242.18 | 1,196.15 |
| iv) Others | 4,606.51 | 4,548.34 | 4,579.14 |
| h) Other Non Current Assets | 773.63 | 1,049.38 | 2,827.95 |
| TOTAL NON CURRENT ASSETS | 79,410.01 | 72,088.62 | 65,527.88 |
| (2) CURRENT ASSETS | |||
| a) Inventories | 278.27 | 243.21 | 177.00 |
| b) Financial Assets | |||
| i) Investments | 10.80 | – | 12.43 |
| ii) Trade Receivables | 2,406.30 | 2,205.65 | 3,316.53 |
| iii) Cash and Cash Equivalents | 1,042.10 | 660.77 | 999.96 |
| iv) Bank balances other than Cash and Cash Equivalents | 129.43 | 151.38 | 150.40 |
| v) Loans | 485.78 | 142.74 | 97.25 |
| vi) Others | 5,122.81 | 3,547.87 | 1,841.27 |
| c) Current Tax Assets (Net) | 94.68 | 70.04 | 118.10 |
| d) Other Current Assets | 1,364.48 | 1,214.61 | 740.22 |
| TOTAL CURRENT ASSETS | 10,934.65 | 8,236.27 | 7,453.16 |
| (3) Assets Classified as held for Sale | 2.81 | 1.73 | 1.22 |
| (4) Regulatory Deferral Account Debit Balances | 8,116.43 | 6,794.49 | 6,653.40 |
| TOTAL ASSETS | 98,463.90 | 87,121.11 | 79,635.66 |
| PARTICULARS | As at 31st March, 2026 (Audited) | As at 31st March, 2025 (Audited) | As at 1st April, 2024 (Audited) |
|---|---|---|---|
| EQUITY AND LIABILITIES | |||
| (1) EQUITY | |||
| a) Equity Share Capital | 10,045.03 | 10,045.03 | 10,045.03 |
| b) Other Equity | 29,927.24 | 28,303.45 | 27,230.92 |
| TOTAL EQUITY | 39,972.27 | 38,348.48 | 37,275.95 |
| (2) LIABILITIES | |||
| NON-CURRENT LIABILITIES | |||
| a) Financial Liabilities | |||
| i) Borrowings |