SHPC Discloses Q4 Report with 25.44 Percent Decline in Net Profits; Company Attributes Loses to Unfavourable Hydrological Conditions
Fri, Aug 11, 2023 12:59 PM on Latest, Financial Analysis,
Sanima Mai Hydropower Limited (SHPC) has published its fourth-quarter report for the recently concluded financial year 2079-80, with a Net profit of Rs. 40.72 crores, which in comparison to the corresponding quarter of FY 2078-79 is 25.44 percent less.
The Revenue from the sale of electricity which is the major income stream for hydropower companies, for SHPC has declined as well by 18.34 percent, totaling only Rs. 76.35 crores until the last quarter of FY 2079-80.
However, the financial cost incurred by the company has declined by 15.35 percent and amounts to only Rs. 12.36 crores as of the last quarter of FY 2079-80.
With a decline in Net Profits the Earnings per Share (EPS) ratio of the company has declined as well to stand at Rs. 13.18, up to the same period, alongside a reduced Net worth per Share of Rs. 179.76.
SHPC maintains Rs. 3.08 Arba in paid-up capital and Rs. 1.16 in the firm of retained earnings.
According to the management analysis of the company, the end of Posted Rate Facility Agreement for Mai Hydropower Project (15.6 MW) owed 6.22 percent and unfavourable hydrological condition during this quarter owed to 12.13 percent decrease in the revenue from sale of electricity. As a result, the net profit for the fourth quarter emd of FY 2079-80 has decreased by 25.44 percent compared to the previous year's quarter ending.
Major Financial Highlights:
| Particulars (In Rs '000) | Sanima Mai Hydropower | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 3,089,251.00 | 3,089,251.00 | 0.00% |
| Retained Earnings | 1,169,023.31 | 921,810.95 | 26.82% |
| Other Reserves | 1,295,065.86 | 4,020,562.01 | -67.79% |
| Property, Plant and Equipment | 11,613.50 | 14,570.36 | -20.29% |
| Investment in associates | 2,992,717.50 | 1,225,700.00 | 144.16% |
| Revenue from Power Sales | 763,511.95 | 935,026.59 | -18.34% |
| Administrative Expenses | 175,535.16 | 175,269.87 | 0.15% |
| Finance Expenses | 123,651.75 | 146,080.99 | -15.35% |
| Net Profit | 407,221.59 | 546,170.31 | -25.44% |
| EPS (In Rs.) | 13.18 | 17.68 | -25.44% |
| Net Worth per Share (In Rs.) | 179.76 | 230.15 | -21.89% |
| PE Ratio (times) | 26.93 | - | - |
| Qtr end Price (Rs.) | 355.00 | - | - |
