Newly IPO Issued Company - Super Madi Hydropower Reports Net Loss of Rs. 1.07 Crores for Q3; Company Officially Started Commercial Production From Chaitra 27
Wed, May 10, 2023 11:20 AM on Latest, Financial Analysis, Stock Market,
Super Madi Hydropower Limited (SMHL) has reported a net loss of Rs. 1.07 Crores.
SMHL has sold electricity worth Rs. 1.32 crores in Q3. As per the report published by company, the operating expenses of the company stands at Rs. 1.05 and the finance expenses of the company stands at Rs, 1.02 Crores.
Its reserve fund stands at negative Rs. 1.32 crores with share capital at Rs 2.10 Arba. With this capital, the annualized earning per share stands of SMHL stands at Rs. -0.68. The net worth per share at Rs 99.37.
The company has also stated that the details mentioned in the Q3 report are true, factual and complete and no details, information and information necessary for investors to make an informed decision have been hidden.
Super Madi Hydro Power Limited started commercial production from the date of Chaitra 27, 2079 so a total of only 4 days of income have been included in this quarterly report. The company is hopeful that the water flow of the Super Madi Hydropower will be good in the coming days.
Super Madi Hydro Power project is a simple Run-of-River scheme that utilizes the flow of the Madi River. The proposed project has an installed capacity of 44MW with a total cost of Rs. 8.35 Arba. The cost per MW is Rs. 18,97,72,720. The electricity generated from this plant will be connected to the Integrated Nepal Power System (INPS) at the Lekhnath Sub Station at Lekhanath Municipality near Pokhara City through a 22km long 132kV single-circuit transmission line. The total net energy production will be 243 GWh annually.
Note: Since, this is the newly listed IPO issued company, the income and expenses statement of the company has not been compared to the Q3 of previous FY i.e 2078/79.
Super Madi had issued 17,43,000 units worth Rs 17.43 crore as Initial Public Offering to the general public (Magh 9-12, 2079).
Out of the total 21,00,000 units; 10% i.e. 210,000 units have already been issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 42,000 units have been set aside for the employees of the company and 5% of the total offered shares i.e. 105,000 units have been set aside for the mutual funds.
Likewise, 2,10,00,000 unit IPO shares of Super Madi have also been listed in NEPSE.
Major Financial Highlights
| Particulars (In Rs '000) | Super Madi Hydro Power | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 2,100,000.00 | 1,785,000.00 | 17.65% |
| Reserve Funds | -13,279.56 | -2,519.12 | 427.15% |
| Property, Plant & Equipment | 31,521.54 | 36,069.90 | -12.61% |
| Revenue from Power Sales | 13,286.20 | ||
| Operating Expenses | 10,516.84 | ||
| Finance Expenses | 10,222.81 | ||
| Net Profit | -10,760.45 | ||
| EPS (In Rs.) | -0.68 | ||
| Net Worth per Share (In Rs.) | 99.37 | ||
| Qtr End Market Price | 390 | - | - |
