Recently IPO-floated Molung Hydropower Unveils Poor Q4 Report; EPS at Rs. -1.42
Sun, Aug 13, 2023 8:53 AM on Latest, Financial Analysis,
Molung Hydropower Company Limited (MHCL) has published its fourth-quarter report for the recently concluded financial year 2079-80, with a Net Loss of Rs. 1.14 crores. Until the corresponding quarter of the previous FY 2078-79, the company had earned Rs. 55.46 lakhs.
With a decline in Net Profits, the Earnings per Share (EPS) of the company has reduced as well to stand at Rs. -1.42, alongside a below-par Net worth per Share of Rs. 75.80 only.
The company has generated a revenue of Rs. 3.14 crores as of FY 2079-80 contrary to Rs. 3.72 crores until the corresponding quarter of FY 2078-79.
The financial cost incurred by the company has declined by almost a quarter, totaling Rs. 2.03 crores as of FY 2079-80 last quarter.
The paid-up capital of the company stands at Rs. 80.25 crores as of FY 2079-80’s end.
According to the management analysis of the company, revenue from the Sale of Electricity has decreased by 15.74 percent compared to the corresponding previous year's quarter ending. The decrease in revenue is due to the unfavorable hydrological condition during this quarter. The net loss for the fourth quarter end of FY 2079-80 has increased by 37.31 percent compared to the previous year's quarter ending due to the higher spending incurred in repair and maintenance and the decrease in revenue. There has been an improvement in the employee benefit cost by 16.52 percent, administrative and other operating cost by 9.54 percent and financing cost has also reduced by 24.46 percent in comparison to the previous year's quarter end.
Recently, the company issued 22,64,655 units of shares of Rs 100 face value as an Initial Public Offering worth Rs 22.64 crore to the general public from the 4th Falgun till the 10th Falgun, 2079. Out of the total 27,28,500 units; 10% i.e. 272,850 units were already issued and allotted to Nepalese citizens working abroad, whereas 2% i.e 54,570 units were set aside for the employees of the company and 5% of the total offered shares i.e. 136,425 units were set aside for the mutual funds. The remaining 22,64,655 units were for the general public. The paid-up capital of the company reached Rs. 80.25 Crores after the IPO issuance.
Major Financial Highlights:
| Particulars (In Rs '000) | Molung Hydropower | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 802,500.00 | 449,400.00 | 78.57% |
| Retained Earnings | -194,190.45 | -176,984.05 | - |
| Property, Plant and Equipment | 3,965.39 | 2,450.27 | 61.83% |
| Cash and cash equivalents | 3,892.82 | 1,272.60 | 205.89% |
| Revenue | 31,414.02 | 37,281.29 | -15.74% |
| Administrative & Other Operating Expenses | 2,073.94 | 2,292.61 | -9.54% |
| Finance Expenses | 20,323.31 | 26,903.06 | -24.46% |
| Net Profit/Loss | -11,421.91 | 5,546.24 | - |
| EPS (In Rs.) | -1.42 | 1.23 | - |
| Net Worth per Share (In Rs.) | 75.80 | 60.62 | 25.05% |
| Qtr End Market Price | 209.4 | - | - |
