2010VP02 NHPC

NHPC 35.60 MCap Rs43790 cr

BSE: 533098 | NSE: NHPC | ISIN: INE848E01016

Capacity 5134MW at cost of 21400 (Historical Cost) crore (ie Rs 4 cr a
MW) and restated cost of 28000

Present Capacity of 13 hydroelectric power stations with generating
capacity is 5,134.2 MW, of which two power stations with a combined
capacity of 1,520 MW, constructed and operated through Subsidiary,
NHDC.
Power stations and hydroelectric projects are located predominantly in
the North and North East of India, in the states of Jammu & Kashmir,
Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Assam, Manipur,
Sikkim and West Bengal. The Company along with its Subsidiary
generated 18951 MUs of electricity and sold 16933 MU of electricity.

Capacity to increase to 14341 MW
The company is presently engaged in the construction of 11
hydroelectric projects of 4,622 MW investing around Rs. 9500 crore
till 31.3.2009. (Estimated outlay Rs 46500 crore @ 5cr/mw)
Government sanction is awaited for 5 projects with an anticipated
capacity of 4,565 MW and. 2,166 MW under joint venture

Survey and investigation works are being carried for nine additional
projects, totaling 7,255 MW

The net worth of company was Rs 18392 crore as on 31.3.2009 pre public
issue of shares and Rs 22420 crore post issue of IPO. On the total
paid up capital of Rs 12301 crore and the NBV Rs 18.22 per share

The company had generated a total revenue of Rs 4051 crore and net
OPBIT of Rs 1529 crore(which is 8.31% of Net worth) during 2008-09

The company is having a capex of 37000 cr which shall put the total
asset value to around 74500 cr. expecting a debt portion of 28000 cr
and equity contribution of 9000cr

i recommend buy at dip with 12 month target of 25-30% from Rs36 and
capital appreciation for long term

Please evaluate independently before investing