SAHAS Discloses Q4 Report with Reduction in Net Profits; Solukhola (Dudhkoshi) Hydropower Project (83 MW) Under SAHAS Begins Commercial Production
Mon, Aug 14, 2023 2:01 PM on Financial Analysis, Latest,
Sahas Urja Limited (SAHAS) has published its fourth-quarter report for the recently concluded financial year 2079-80 with a significant reduction in its Net Profit, totaling Rs. 13.47 crores as of the last quarter of the financial year. Until Q4 of the previous FY 2078-79, the company had profited Rs. 72.46 crores.
The hydropower company’s revenue generation from the sale of electricity has increased massively to Rs. 61.28 crores as of FY 2079-80/s end contrary to only Rs. 3.72 crores until the corresponding quarter of FY 2078-79.
With a decline in the Net Profit, the Earnings per Share (EPS) of the company has also plummeted to Rs. 3.85 only, alongside a Net worth per Share of Rs. 162.08.
The company has incurred a massive increase in the financial cost which totals Rs. 47.63 crores in amount, which has negatively affected the profitability of the company.
SAHAS maintains Rs. 3.50 Arba in paid-up capital and has Rs. 2.17 crore in the form of reserve and surplus.
The Solukhola (Dudhkoshi) Hydropower Project (83 MW), under the company's management, has completed construction and examination and commenced commercial electricity production on 2079/11/17. The bills for the same have been submitted to NEA and are currently being cleared.
According to the management analysis of the company, other income mentioned in the financial statement is unreal as it is generated by drawing on the principle of IFRIC 12: Service Concession Arrangement according to the NFRS system.
Major Financial Highlights:
| Particulars (In Rs '000) | Sahas Urja Limited | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 3,500,000.00 | 3,500,000.00 | 0.00% |
| Reserve and Accumulated Profit/(Loss) | 2,172,785.86 | 2,038,045.35 | 6.61% |
| Property, Plant and Equipment | 138,897.32 | 136,230.38 | 1.96% |
| Bridge Gap Loan | 798,977.31 | 549,949.01 | 45.28% |
| Cash and cash equivalents | 153,959.97 | 140,946.31 | 9.23% |
| Revenue | 612,810.57 | 37,281.29 | - |
| Administrative Expenses | 40,555.54 | 4,444.17 | - |
| Finance Expenses | 476,309.16 | 26,903.06 | - |
| Net Profit/Loss | 134,740.50 | 724,645.79 | -81.41% |
| EPS (In Rs.) | 3.85 | 20.70 | -81.41% |
| Net Worth per Share (In Rs.) | 162.08 | 158.23 | 2.43% |
| PE Ratio (Times) | 125.70 | - | - |
| Qtr End Market Price | 483.9 | - | - |
