Mandu Hydropower Net Profit Surges By 12.32%, Debt and Financial Costs Decline, EPS Reaches Rs. 21.66 in Q3 FY 2080/81
Fri, May 3, 2024 8:20 AM on Financial Analysis, Company Analysis, Latest,
Mandu Hydropower Limited (MANDU) has demonstrated exceptional financial performance in the third quarter of Fiscal Year 2080/81, marked by a notable 12.32% increase in earnings, resulting in a net profit of 22.15 Crores.
MANDU prudently managed its finances by reducing loans and borrowings by 24.88% to Rs. 2.05 Arba during this period.
Despite a marginal 2.76% decrease in revenue compared to the same quarter last year, the company generated a substantial Rs. 58.2 Crores from power sales. Moreover, administrative expenses remained well-controlled at Rs. 53.94 lakhs.
MANDU maintains a paid-up capital of Rs. 1.36 Arba and boasts a healthy Retained Earnings and Reserves portfolio valued at Rs 42.29 Crores. Additionally, the company's share premium stands at Rs 17 Crores. The Annualized Earnings Per Share (EPS) stands at an impressive Rs. 21.66. The net worth of the company is reported at a substantial Rs. 143.53.
Notably, MANDU has been a consistent producer of 22MW of electricity for the past 5 years, supplying reliably to NEA. The Per MW cost, at Rs 18 crore, remains below the industry average.
Furthermore, in a forward-looking move, the company has invested Rs. 40 crore in Tundi Hydropower Company, facilitating the development of two significant hydroelectric projects in Nepal. These projects include the Rahughat Mangale Hydroelectric Project - 37 MW in Myagdi District and the Upper Rahughat Hydroelectric Project - 48.5 MW in Myagdi District, underscoring MANDU's commitment to sustainable growth and expansion in the energy sector.
The major promoters include Sichuan Hechuan Investment Co. Ltd. (43%), a Chinese company and the rest 57% by Nepalese parties including General Public (12%), Maheshwor Prakash Shrestha (8%), M/s. Himalayan Infrastructure Ltd. (8%), Mr. Rijan Shrestha (3%), Mr. Binod Kumar Shrestha (4%)., Mr. Prithvi Bahadur Pande (4%), M/s. Lotus Investment Pvt. Ltd. (4%), Ms. Pratima Pande (2%) Mr. Shivanth Bahadur Pande (2%) and Sophia Pande (2%).
Major Highlights:
| Particulars (In Rs '000) | Mandu Hydropower Limited | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Paid Up Capital | 1,363,637.00 | 1,200,000.00 | 13.64% |
| Share Premium | 170,598.07 | 0.00 | - |
| Reserves and Surplus | 422,988.35 | 308,834.33 | - |
| Loan and Borrowings | 2,059,014.17 | 2,741,014.17 | -24.88% |
| Property, Plant & Equipment | 803.90 | 994.46 | -19.16% |
| Investments | 400,000.00 | 400,000.00 | 0.00% |
| Income from Power Sales | 582,006.42 | 598,531.66 | -2.76% |
| Administrative Expenses | 5,394.79 | 4,621.41 | 16.73% |
| Financial Cost | 171,379.06 | 225,018.81 | -23.84% |
| Other Income | 3.55 | 425.14 | -99.17% |
| Net Profit | 221,565.33 | 197,269.66 | 12.32% |
| EPS (In Rs.) | 21.66 | 21.92 | -1.16% |
| Net Worth per Share (In Rs.) | 143.53 | 125.74 | 14.15% |
| Qtr end PE Ratio (times) | 35.54 | - | - |
| Qtr End Market Price | 770 | - | - |
