Barahi Hydropower (BHPL) In Poor Financial Standing In Q4; Attributes Losses To Dry Conditions and Subsequently Reduced Production
Sun, Aug 13, 2023 7:54 AM on Financial Analysis, Latest,
Barahi Hydropower Public Limited (BHPL) has published its fourth-quarter report for the recently concluded financial year 2079-80, with a Net Loss of Rs. 1.75 crores. Until the corresponding quarter of the previous FY 2078-79, the hydropower company had lost Rs. 4.34 crores.
The administrative expenses of the company have also increased, totaling Rs. 59.53 lakhs as of FY 2079-80’s end. However, the financial expenses incurred by the company have decreased by 54.32 percent amounting to only Rs. 2.76 crores until the same period.
The Earnings per Share (EPS) of the company stands poor at Rs. -7.03, alongside a below-par Net worth per Share of Rs. 58.63 only.
The company has generated Rs. 2.70 crore from operations as of FY 2079-80’s end contrary to Rs. 3.3 crores until the corresponding quarter of FY 2078-79.
The company maintains Rs. 25 crores in paid-up capital.
The company has been commercially producing electricity since Ashad 24, 2075. In comparison to the previous fiscal year 2078-79, the FY 2079-80, was drier nationwide, resulting in the hydropower electricity production in Theule Khola declining by 18 percent. In the future, the company plans for optimal electricity production.
Barahi Hydropower Public Limited (BHPL) has got preliminary approval from the Electricity Regulatory Commission to issue a 1: 1 right offering. The application was sent to ERC for the issuance of the right shares on Baisakh 21, 2080.
The hydropower company proposed to issue 100% right shares on the paid-up capital of Rs. 25 Crores. After the adjustment of the proposed right share i.e. 2,500,000 units, the paid-up capital of the company will increase to Rs. 50 crores.
The company is issuing the right shares in order to construct Simkosh Khola Hydroelectric Project (3.45 MW) and Lower Theule Khola Hydropower Project (0.75 MW) owned by the company.
The company will issue the right shares to its shareholders only after the approval of SEBON.
Major Financial Highlights:
| Particulars (In Rs '000) | Barahi Hydropower | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 250,000.00 | 180,000.00 | 38.89% |
| Reserves | -103,426.36 | -85,161.42 | - |
| Investment | 15,365.12 | 4,800.25 | 220.09% |
| Trade and Other receivables | 30,139.94 | 37,746.29 | -20.15% |
| Revenue from Operations | 27,024.28 | 33,310.32 | -18.87% |
| Administrative Expenses | 5,953.89 | 3,099.39 | 92.10% |
| Finance Expenses | 27,648.84 | 60,524.93 | -54.32% |
| Net Loss | -17,579.08 | -43,404.54 | - |
| EPS (In Rs.) | -7.03 | -24.11 | - |
| Net Worth per Share (In Rs.) | 58.63 | 52.69 | 11.28% |
| PE Ratio (times) | - | - | - |
| Qtr end Price (Rs.) | 458.00 | - | - |
