NHPC Limited reported strong financial growth for FY26, with revenue rising 12% to ₹11,615 crore and Profit After Tax (PAT) jumping 25% to ₹3,766 crore. The growth was primarily driven by the commissioning of new power stations, including Parbati-II and Subansiri Lower, and increased power generation. Despite a slight dip in the Plant Availability Factor (PAF), the company remains focused on aggressive expansion and future project pipelines across the hydropower and solar sectors.
Financial Highlights of FY26
NHPC Limited has delivered a strong performance for the financial year ending March 31, 2026. The company achieved a total power generation of 29,619 million units, reflecting a 16% increase over the previous year. This output surge directly contributed to a 12% rise in revenue from operations, totaling ₹11,615 crore. Net profitability also saw significant improvement, with PAT reaching ₹3,766 crore, up from ₹3,007 crore in the corresponding previous period.
Strategic Project Milestones
The company successfully expanded its operational capacity through the commissioning of key assets. A major highlight is the Subansiri Lower Project, where four units of 250 MW each have been commissioned, with the remaining units expected by March 2027. The anticipated cost for this project is ₹30,072 crore. Additionally, the company is making strides in renewable energy, having commissioned 300 MW of solar capacity in Bikaner, with several other solar projects in Gujarat, Odisha, and Kerala expected to come online throughout FY27.
Future Expansion and Outlook
NHPC is actively pursuing a robust growth pipeline. The company received investment approval for the Uri-I Stage-II (240 MW) and Dulhasti Stage-II (260 MW) projects in February 2026. Furthermore, the Kamala HE Project (1,720 MW) and the Dibang Multipurpose Project (2,880 MW) are progressing, with all major contracts for the latter now awarded. Looking ahead, the company is also exploring significant opportunities in the Pumped Storage Project (PSP) space, with 18 GW currently at the DPR/PFR stage, signaling a long-term commitment to enhancing India’s energy storage capabilities.
Dividend and Shareholder Value
Reflecting its strong financial health and confidence in future cash flows, the Board of Directors has recommended a final dividend of 2.10% (21 paise per share). Combined with the interim dividend of 14%, the total dividend payout for FY26 stands at 16.10%, or ₹1.61 per equity share, demonstrating sustained value creation for shareholders.
Source: BSE
