Sanima Mai Hydropower Reports Decline in Net Profit by 11.36%; EPS at Rs. 21.32 & Net Worth Per Share at Rs. 171.19
Mon, Feb 6, 2023 11:23 AM on Latest, Financial Analysis, Stock Market,
Sanima Mai Hydropower Company Limited (SHPC) has reported a decline in net profit by 11.36% in the second quarter (Q2) of FY 2079/80. The profit decreased to Rs. 32.92 crores in this quarter from Rs. 37.14 crores in the corresponding quarter of the previous year.
Revenue from the Sale of Electricity has decreased by 12.4% compared to the corresponding previous year's quarter ending. The decreased revenue is due to the end of Posted Rate Facility Agreement for Mai Hydropower Project (15.6 MW) as well as unfavorable hydrological conditions during this quarter. As a result, the net profit for the second quarter end of FY 2079/080 has decreased by 11.36% compared to the previous year's quarter ending. The company also invested around Rs. 2.34 Arba in associates which have increased by 91.06% in this quarter.
The company has invested a total of Rs 1.74 arba in the subsidiary project named Swet Ganga Hydropower and Construction Limited (45 Crores), Sanima Middle Tamor Hydropower Limited (53.32 Crores), Mathilo Mailun Khola Jalvidhyut Hydropower Limited (23.75 Crores), Bavari Construction P Limited (2 Crores) and Sanima Jum Hydropower Limited (50 Crores - Committed Investment).
SHPC has a share capital of Rs 3.08 Arba, whereas, retained earnings are Rs 1.08 Arba and other reserves of Rs 1.11 Arba. At this capital, the annualized EPS stands at Rs. 21.32, and the net worth per share at Rs 171.19. The company P/E Stands at 16.23 times.
Major Financial Highlights:
| Particulars (In Rs '000) | Sanima Mai Hydropower | ||
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 3,089,251.00 | 3,089,251.00 | 0.00% |
| Retained Earnings | 1,088,473.54 | 742,720.09 | 46.55% |
| Other Reserves | 1,110,650.06 | 6,546.50 | 16865.56% |
| Property, Plant & Equipment | 12,852.31 | 15,224.40 | -15.58% |
| Investment in Associates | 2,341,850.00 | 1,225,700.00 | 91.06% |
| Revenue | 504,930.39 | 576,575.87 | -12.43% |
| Administrative Expenses | 87,404.32 | 89,783.73 | -2.65% |
| Finance Expenses | 63,625.90 | 73,155.15 | -13.03% |
| Net Profit | 329,254.67 | 371,453.97 | -11.36% |
| Annualized EPS (In Rs.) | 21.32 | 24.05 | -11.36% |
| Net Worth per Share (In Rs.) | 171.19 | 124.25 | 37.77% |
| Qtr end PE Ratio (times) | 16.23 | - | - |
| Qtr End Market Price | 346 | - | - |
