NHPC share up 2% post Q1 results; JM Financial says 'buy'; check details

NHPC share price today: Shares of state-run hydropower company NHPC rose over 2 per cent to hit an intraday high of ₹₹85.86 after the company reported in-line numbers for the June 2025 quarter (Q1FY26).

 

At 10:30 AM, NHPC stock was trading 1.2 per cent higher at ₹85.1 per share compared to the previous day's close of ₹83.91 per share on the NSE.

 

In comparison, NSE Nifty50 was up 0.43 per cent at 24,608 levels. The market capitalisation of the company stood at ₹85,905 crore. The stock has recovered 18 per cent from the 52-week low of ₹71 touched on February 28, 2025.

 

NHPC Q1 results

In the June 2025 quarter (Q1FY26), NHPC reported consolidated revenue from operations of ₹3,213.77 crore, up 19.2 per cent from ₹2,694.2 crore in the year-ago period. The company's earnings before interest, tax, depreciation, and amortisation (Ebitda) came in at ₹1,802 crore compared to ₹1,609 crore in Q1FY25. Net profit increased 4.2 per cent year-on-year (Y-o-Y) to ₹1,065 crore from ₹1,022 crore in the year-ago period. 

 

Additionally, the company raised ₹2,000 crore on August 12, 2025, through the issuance of unsecured, redeemable, non-convertible, non-cumulative, and taxable 6.40 per cent NHPC AG Series Bonds 2027 on a private placement basis. The bonds, with a tenor of two years from the allotment date, are proposed to be listed on the Wholesale Debt Market segment of both BSE and NSE. Interest on the bonds will be paid annually, with redemption at par upon maturity on August 12, 2027.  Check List of Q1 results today

JM Financial on NHPC

According to analysts at JM Financial, the revenue growth was driven by an 11 per cent Y-o-Y increase in generation during the quarter. The company expects to commission three units of 8x250 MW Subansiri Lower during August to September 2025. The remaining five units of Subansiri, 120MW Rangit-IV, and 624MW Kiru are expected to be commissioned during FY26/FY27. 

 

The installed capacity with regulated equity is set to grow from ₹142 billion in FY25 to ₹292 billion by FY28.

 

During the quarter, the company signed several memorandum of understanding (MoU) for a capacity of 19GW of pumped storage project (PSP) P with various state governments and organisations. The construction for the 640MW Indrasagar Omkareswar PSP project is expected to begin in FY26. 

 

The brokerage has maintained a 'Buy' rating on the stock with a 12-month target price of ₹103.

About NHPC

NHPC is a Mini-Ratna Category-1 enterprise of the Government of India. The company is one of the largest hydro power developers in the country. It is primarily engaged in the generation and sale of bulk power to various power utilities. The company manages every stage of hydro project development, from initial planning to final commissioning. It has also expanded into the solar and wind energy sectors. Its core objective is to promote integrated power development using both traditional and renewable energy sources, within India and internationally. The company also provides project management, construction contracts, consultancy assignment services, and trading of power.