NHPC Limited (NHPC) Earnings Call Transcripts

NHPC Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, NHPC Limited reported a significant increase in revenue and profit, driven by higher generation from newly commissioned power stations. Revenue from operations reached INR 11,615 crores, up 12% year-over-year, while profit after tax (PAT) surged 25% to INR 3,766 crores. Management maintained a positive outlook, indicating ongoing project developments and expected commissioning of additional capacity by March '27, which could further enhance earnings in the upcoming fiscal year.

Reported metrics

Guidance from management

Management expects continued revenue growth in FY '27 with additional capacity coming online, projecting regulated equity to reach INR 30,627 crores by the end of the fiscal year.

What management said

Yes. So far, the profitability of [indiscernible] and SLP is concerned, we have all INR 104 crores of profit from INR 552 in Q4 and INR 487 crores of profit from S&P in Q4. On a yearly basis, [indiscernible] has given a loss of INR 150 crores, whereas on yearly basis, that is SLP has given total profit of INR 495 crores.

Yes. So basically, at the end of the financial year, we compute the shortfall of energy, which we are supposed to recover. So in [indiscernible], we have shortfall of synergy to the extent of INR 200 crores. So that has been booked under revenue. That is the reason [indiscernible] has given the profit of INR 104 crores in Q4.

What analysts pressed on

Analysts expressed concerns regarding the lower PAF and the impact of operational shutdowns on future generation capacity. There were also questions about the timing of tariff adjustments and their potential effects on revenue recognition.

Main topics on the call

• Revenue Growth — NHPC's revenue from operations for FY '26 was INR 11,615 crores, reflecting a 12% increase from INR 10,380 crores in the previous year. Management noted, "The increase in revenue is mainly due to higher generation on acc...
• Profit After Tax Surge — The company reported a PAT of INR 3,766 crores for FY '26, a 25% increase from INR 3,007 crores in FY '25. Management highlighted that this growth was supported by improved operational efficiencies and higher generation ...
• Project Completions and Future Capacity — Management announced the commissioning of four units of the Subansiri Lower project and plans to complete the remaining units by March '27. They stated, "Remaining 4 units are expected to be commissioned one by one till ...
• Operational Challenges — Despite the positive financial results, NHPC faced operational challenges, with a decrease in Plant Availability Factor (PAF) to 74.75% from 78.87% in the previous year. Management noted, "This is mainly due to shutdown ...

Read the full NHPC Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 15 NHPC Limited earnings call transcripts on record, spanning February 10, 2020 to May 18, 2026. Based on this history, NHPC Limited reports semi-annually. The most recent call on file is dated May 18, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NHPC

Exchange

NSEI

Country

IN

Sector

Utilities

Industry

Independent Power and Renewable Electricity Producers

Calls on record

15

First call

February 10, 2020

Most recent

May 18, 2026

Reporting cadence

semi-annually