त्रिशूली जलविद्युत् कम्पनीको आव २०८३/८४ को प्रथम त्रैमासिक प्रतिवेदनTrishuli Jal Vidhyut Company: Q1 Financial Report FY 2083/84
- वर्ग:Category:
- Financial Analysis
- प्रकाशित मिति:Published:
- Published on November 16, 2026
धितोपत्र दर्ता तथा निष्काशन नियमावली २०७३ को अनुसूची १ (नियम २६ को उपनियम(१) संग सम्बन्धित)
आ.व. २०८३/८४ को प्रथम त्रैमासिक प्रतिवेदन
Trishuli Jal Vidhyut Company Limited
Kathmandu, Nepal
Unaudited Quarterly Statement of Financial Position
As at Ashwin 31, 2083 (October 17, 2026)
Particulars Quarter ending October 17, 2026 (Ashwin 31, 2083) Quarter ending July 16, 2026 (Ashad 32, 2083) Quarter ending October 17, 2025 (Ashwin 31, 2082)
| ASSETS | |||
| Non-Current Assets: | |||
| Property, Plant and Equipment | 30,085,783 | 146,743,690 | 150,419,387 |
| Right of Use Asset | - | - | 133,800 |
| Capital Work-in-Progress | 7,271,274,079 | 7,114,435,622 | 6,324,257,242 |
| Deposit & Other Receivables | 1,125,000 | 1,125,000 | 1,125,000 |
| Income Tax Assets | 8,089,049 | 8,089,049 | 8,072,889 |
| Total Non-Current Assets | 7,310,573,911 | 7,270,393,361 | 6,484,008,319 |
| Current Assets: | |||
| Inventories | 1,261,036 | 55,336 | 182,774 |
| Financial Assets: | |||
| Cash and Cash Equivalents | 31,576,240 | 41,536,473 | 61,833,572 |
| Deposit & Other Receivables | 249,000 | 249,000 | 299,000 |
| Other Current Assets | |||
| Prepayments | 5,476,637 | 4,957,759 | 1,116,339 |
| Other advances | 956,901,379 | 977,786,972 | 585,009,256 |
| Total Current Assets | 995,464,292 | 1,024,585,538 | 648,440,940 |
| Total Assets: | 8,306,038,203 | 8,294,978,900 | 7,132,449,259 |
| EQUITY AND LIABILITIES | |||
| EQUITY: | |||
| Share Capital | 1,789,162,770 | 1,789,162,770 | 1,789,162,770 |
| Retained Earnings | (542,542,336) | (427,251,703) | (323,105,293) |
| Total Equity | 1,246,620,434 | 1,361,911,067 | 1,466,057,477 |
| LIABILITIES | |||
| Non-Current Liabilities: | |||
| Loans and Borrowings | 4,719,105,982 | 4,637,334,387 | 3,781,576,085 |
| Trade & Other Payables | 224,699,725 | 223,798,698 | 188,099,790 |
| Provisions | 4,956,910 | 4,956,910 | 5,336,541 |
| Total Non-current Liabilities | 4,948,762,617 | 4,866,089,995 | 3,975,012,416 |
| Current Liabilities: | |||
| Financial Liabilities | |||
| Loans and Borrowings | 601,151,930 | 541,151,930 | 255,000,000 |
| Trade & Other Payables | 1,509,503,223 | 1,525,825,909 | 1,436,379,365 |
| Total Current Liabilities | 2,110,655,153 | 2,066,977,838 | 1,691,379,365 |
and severely damaging major project structures, including the headpond intake, approach pressure conduit, tailrace conduit and gate, sections of the headrace and adit-1 tunnels, penstock, powerhouse, and one transmission tower. The flood also destroyed five residential buildings, one office building, contractor's camps, warehouses, laboratories, batching and crushing plants, vehicles, and construction equipments.
The disaster resulted in tragic loss of life of 183 people. Of these, seven bodies have been recovered, while the remaining 176 individuals, including company employees, their family members, consultants personnel, and contractors personnel (comprising both chinese and nepali nationals) remain missing.
Immediately following the disaster, the company initiated search and rescue operations to locate and rescue the missing persons. As part of these operations, excavation activities were carried out using heavy and light equipment at the office buildings, residential premises, and Powerhouse area. The search and rescue operations commenced on 2083/05/14 and continued until 2083/06/16, spanning approximately one month. However, none of the missing persons could be located during this period.
Following the conclusion of the search and rescue operations, the company has shifted its focus towards search and recovery activities. These activities include providing relief and necessary support to the families of deceased and missing employees, pursuing insurance claims relating to deceased and missing employees, and processing claims for damage to project structures, buildings, vehicles, and equipment. In parallel, the company has also initiated preliminary discussions and studies to explore possible approaches for the reconstruction and rehabilitation of the project. In this regard, the Company has lodged insurance claim with Siddhartha Premier Insurance Company Limited for the loss and damage to buildings, including water tanks and generator. Similarly, claims for damage to other civil structures and electromechanical equipment of the project under the Contractor's All Risks (CAR) insurance policy with Sanima GIC Insurance Company Limited are being processed for submission by the Contractors i.e. Fewa Construction Private Limited and HNAC-JIANGHE JV. Due to the massive destruction of the project facilities and the fundamental change the flood has brought about to the geomorphology of the Trishuli River, it may take some time to formulate a clear strategy of reconstructing the project. Management believes that the project can be reconstructed and is fully committed to begin reconstruction at the earliest.
o Any changes in stock, Income and liquidity during the quarter and the reason for change if any: Current ratio has decreased to 0.47 from 0.50 and 0.84 as compared to previous quarter and corresponding previous year quarter
o Statement of Management analysis on the company's upcoming business plan
The company does not have any plan for other project development except currently running project i.e. Upper Trishuli 3B Hydroelectric Project.
o Analytical Statement on the possible effect on company's profitability, stocks and cash flows by any events known if any, based on past experience
There are no any events known that may effect on the company's profitability, stocks and cash flows based on past experience.
3. Legal Proceedings
o Case filed by or filed against the company during the quarter, if any: None
o Case filed by or filed against the company or its promoter or director for violation of the prevailing regulation or committing the criminal offence during the quarter, if any: None
o Case filed by or filed the promotor or director on financial crime during the quarter, if any: None
Total Equity and Liabilities: 8,306,038,203 8,294,978,900 7,132,449,259
Unaudited Quarterly Statement of Profit and Loss
For the Quarter ending Ashwin 31, 2083 (October 17, 2026)
Particulars Quarter ending October 17, 2026 (Ashwin 31, 2083) Quarter ending July 16, 2026 (Ashad 32, 2083) Quarter ending October 17, 2025 (Ashwin 31, 2082)
| Revenue From Operations | - | - | - |
| Less: Direct Cost | - | - | - |
| Gross Profit | - | - | - |
| Other Income | - | 369,207 | 95,292 |
| EXPENSES | |||
| Employee Cost | 6,939,226 | 22,904,795 | 6,796,303 |
| Depreciation and Amortization Expenses | 490,651 | 1,962,606 | 463,386 |
| Administrative & General Expenses | 1,354,703 | 19,033,904 | 1,521,398 |
| Foreign Exchange (Gain) / Loss | (8,783,687) | 88,089,364 | 18,789,256 |
| Loss on Fixed Assets | 115,289,741 | - | - |
| Total Expenses | 115,290,633 | 131,990,668 | 27,570,343 |
| Profit (Loss) From Operations | (115,290,633) | (131,990,668) | (27,570,343) |
| Finance Cost | - | - | - |
| Finance Income | - | - | - |
| Profit (Loss) Before Bonus and Tax | (115,290,633) | (131,990,668) | (27,570,343) |
| Income Tax Expense | - | - | - |
| Net Profit (Loss) for the Period | (115,290,633) | (131,990,668) | (27,570,343) |
Note: The above mentioned figures are subject to change during statutory audit of the books of accounts. Previous period figures have been reclassified/adjusted whenever considered necessary.
FIRST QUARTER DISCLOSURE AS OF 31ST ASHWIN 2083 AS PER SECURITIES REGISTRATION AND ISSUANCE REGULATION ANNEXURE-14 (RELATED TO SUB REGULATION 1 OF REGULATION 26)
1. Financial Statements
The unaudited financial statements for the First Quarter of FY 2083/84 and key financial ratios have been published along with this report.
Related party transactions: Business transaction, if any with related parties has been conducted at arm's length basis in line with section 93(c) of the Company Act, 2063.
The major financial highlights of the company have been given below:
Earnings Per Share (EPS) Current Ratio Net Worth Per Share (NWS) Market Price Per Share (MPS) P/E Ratio Return on Assets (ROA)
(6.22) 0.47 67.29 274.00 (44.03) (1.39%)
*Market price per share has been considered for date Ashwin 30, 2083.
2. Management Analysis
The Upper Trishuli-3B Hydroelectric Project was scheduled for completion by the end of Ashad 2084. However, on 2083/05/10, an unprecedented and devastating flood in the Lende-Bhotekoshi-Trishuli River caused extensive damage to the project, sweeping away
4. Analysis of Company's Share Transaction
TVCL shares were actively traded during the first quarter of FY 2083/84. The major highlights of share transactions during the period are as follows:
Maximum Price NPR Minimum Price NPR Closing Price NPR Total Transactions Transaction days Total Traded Volume Total Traded Value NPR
495.00 272.00 274.00 3,730.00 61 600,150.00 219,545,516.60
5. Problems/Challenges and Strategies
Problems and Challenges
i. Challenges in assessing the project's reconstruction modality following the alteration of river channels and the complete destruction of the powerhouse due to the flood.
ii. The total destruction of employee residential facilities has posed significant challenges in arranging basic accommodation and other essential facilities for personnel deployed in the protection and restoration of the project. Similarly, transporting the required machinery, equipment, and additional manpower to the project site is difficult.
iii. Increase in the overall project cost due to flood-induced damage and destruction of previously constructed civil structures.
iv. Arrangement of financing for the increased project cost resulting from the flood damage.
v. Delay in project completion and commencement of commercial operation beyond the initially estimated date of the end of Ashadh 2084 due to the Bhotekoshi-Trishuli flood.
vi. Increased risks of floods and landslides due to the geological conditions of the project area, as well as uncertainties in river flow patterns following the Bhotekoshi-Trishuli flood.
vii. Getting timely government decisions regarding the reconstruction of flood-affected project structures.
viii. Delays in the settlement of insurance claims relating to flood-damaged physical assets and loss of human life.
Strategies
i. A survey team has been engaged to assess the extent of damage and the possible ways of reconstruction of the project following the flood incident.
ii. Discussions are underway with the lead bank of the consortium (Nabil Bank Limited) and the promoters (Nepal Electricity Authority and Nepal Telecom) regarding the financing of the additional project costs arising from the flood damage.
iii. Discussions are underway with the insurance companies to ensure the timely settlement of insurance claims.
iv. Proper analysis of environment in order to mitigate maximum loss from natural disaster.
v. Requests have been submitted to concerned authorities regarding the facilitation required from the Government of Nepal for the reconstruction of the project.
6. Corporate Governance
Board of Directors, Audit Committee, Other Committees and Management Team are committed for strengthening good corporate governance within the company. The company has written manuals, policies, rules & regulations for proper functioning of the company. Further, the company has regular meetings with its top management in compliance with Corporate Governance Guidelines, 2074 issued by Securities Board of Nepal. The Provisions of SEBON Corporate Guidelines has been duly complied with.
7. Declaration
I, the Managing Director, of this Company take the responsibility of accuracy of the information and details mentioned in this report for the period up to First Quarter of FY 2083/84 and hereby declare that the information and details provided in this report are true, based on facts, and complete to the best of my knowledge.
Related to Schedule 1 (Sub-rule (1) of Rule 26) of Securities Registration and Issue Regulations, 2073
First Quarterly Report of F.Y. 2083/84
Trishuli Jal Vidhyut Company Limited
Kathmandu, Nepal
Unaudited Quarterly Statement of Financial Position
As at Ashwin 31, 2083 (October 17, 2026)
Particulars Quarter ending October 17, 2026 (Ashwin 31, 2083) Quarter ending July 16, 2026 (Ashad 32, 2083) Quarter ending October 17, 2025 (Ashwin 31, 2082)
| ASSETS | |||
| Non-Current Assets: | |||
| Property, Plant and Equipment | 30,085,783 | 146,743,690 | 150,419,387 |
| Right of Use Asset | - | - | 133,800 |
| Capital Work-in-Progress | 7,271,274,079 | 7,114,435,622 | 6,324,257,242 |
| Deposit & Other Receivables | 1,125,000 | 1,125,000 | 1,125,000 |
| Income Tax Assets | 8,089,049 | 8,089,049 | 8,072,889 |
| Total Non-Current Assets | 7,310,573,911 | 7,270,393,361 | 6,484,008,319 |
| Current Assets: | |||
| Inventories | 1,261,036 | 55,336 | 182,774 |
| Financial Assets: | |||
| Cash and Cash Equivalents | 31,576,240 | 41,536,473 | 61,833,572 |
| Deposit & Other Receivables | 249,000 | 249,000 | 299,000 |
| Other Current Assets | |||
| Prepayments | 5,476,637 | 4,957,759 | 1,116,339 |
| Other advances | 956,901,379 | 977,786,972 | 585,009,256 |
| Total Current Assets | 995,464,292 | 1,024,585,538 | 648,440,940 |
| Total Assets: | 8,306,038,203 | 8,294,978,900 | 7,132,449,259 |
| EQUITY AND LIABILITIES | |||
| EQUITY: | |||
| Share Capital | 1,789,162,770 | 1,789,162,770 | 1,789,162,770 |
| Retained Earnings | (542,542,336) | (427,251,703) | (323,105,293) |
| Total Equity | 1,246,620,434 | 1,361,911,067 | 1,466,057,477 |
| LIABILITIES | |||
| Non-Current Liabilities: | |||
| Loans and Borrowings | 4,719,105,982 | 4,637,334,387 | 3,781,576,085 |
| Trade & Other Payables | 224,699,725 | 223,798,698 | 188,099,790 |
| Provisions | 4,956,910 | 4,956,910 | 5,336,541 |
| Total Non-current Liabilities | 4,948,762,617 | 4,866,089,995 | 3,975,012,416 |
| Current Liabilities: | |||
| Financial Liabilities | |||
| Loans and Borrowings | 601,151,930 | 541,151,930 | 255,000,000 |
| Trade & Other Payables | 1,509,503,223 | 1,525,825,909 | 1,436,379,365 |
| Total Current Liabilities | 2,110,655,153 | 2,066,977,838 | 1,691,379,365 |
and severely damaging major project structures, including the headpond intake, approach pressure conduit, tailrace conduit and gate, sections of the headrace and adit-1 tunnels, penstock, powerhouse, and one transmission tower. The flood also destroyed five residential buildings, one office building, contractor's camps, warehouses, laboratories, batching and crushing plants, vehicles, and construction equipments.
The disaster resulted in tragic loss of life of 183 people. Of these, seven bodies have been recovered, while the remaining 176 individuals, including company employees, their family members, consultants personnel, and contractors personnel (comprising both chinese and nepali nationals) remain missing.
Immediately following the disaster, the company initiated search and rescue operations to locate and rescue the missing persons. As part of these operations, excavation activities were carried out using heavy and light equipment at the office buildings, residential premises, and Powerhouse area. The search and rescue operations commenced on 2083/05/14 and continued until 2083/06/16, spanning approximately one month. However, none of the missing persons could be located during this period.
Following the conclusion of the search and rescue operations, the company has shifted its focus towards search and recovery activities. These activities include providing relief and necessary support to the families of deceased and missing employees, pursuing insurance claims relating to deceased and missing employees, and processing claims for damage to project structures, buildings, vehicles, and equipment. In parallel, the company has also initiated preliminary discussions and studies to explore possible approaches for the reconstruction and rehabilitation of the project. In this regard, the Company has lodged insurance claim with Siddhartha Premier Insurance Company Limited for the loss and damage to buildings, including water tanks and generator. Similarly, claims for damage to other civil structures and electromechanical equipment of the project under the Contractor's All Risks (CAR) insurance policy with Sanima GIC Insurance Company Limited are being processed for submission by the Contractors i.e. Fewa Construction Private Limited and HNAC-JIANGHE JV. Due to the massive destruction of the project facilities and the fundamental change the flood has brought about to the geomorphology of the Trishuli River, it may take some time to formulate a clear strategy of reconstructing the project. Management believes that the project can be reconstructed and is fully committed to begin reconstruction at the earliest.
o Any changes in stock, Income and liquidity during the quarter and the reason for change if any: Current ratio has decreased to 0.47 from 0.50 and 0.84 as compared to previous quarter and corresponding previous year quarter
o Statement of Management analysis on the company's upcoming business plan
The company does not have any plan for other project development except currently running project i.e. Upper Trishuli 3B Hydroelectric Project.
o Analytical Statement on the possible effect on company's profitability, stocks and cash flows by any events known if any, based on past experience
There are no any events known that may effect on the company's profitability, stocks and cash flows based on past experience.
3. Legal Proceedings
o Case filed by or filed against the company during the quarter, if any: None
o Case filed by or filed against the company or its promoter or director for violation of the prevailing regulation or committing the criminal offence during the quarter, if any: None
o Case filed by or filed the promotor or director on financial crime during the quarter, if any: None
Total Equity and Liabilities: 8,306,038,203 8,294,978,900 7,132,449,259
Unaudited Quarterly Statement of Profit and Loss
For the Quarter ending Ashwin 31, 2083 (October 17, 2026)
Particulars Quarter ending October 17, 2026 (Ashwin 31, 2083) Quarter ending July 16, 2026 (Ashad 32, 2083) Quarter ending October 17, 2025 (Ashwin 31, 2082)
| Revenue From Operations | - | - | - |
| Less: Direct Cost | - | - | - |
| Gross Profit | - | - | - |
| Other Income | - | 369,207 | 95,292 |
| EXPENSES | |||
| Employee Cost | 6,939,226 | 22,904,795 | 6,796,303 |
| Depreciation and Amortization Expenses | 490,651 | 1,962,606 | 463,386 |
| Administrative & General Expenses | 1,354,703 | 19,033,904 | 1,521,398 |
| Foreign Exchange (Gain) / Loss | (8,783,687) | 88,089,364 | 18,789,256 |
| Loss on Fixed Assets | 115,289,741 | - | - |
| Total Expenses | 115,290,633 | 131,990,668 | 27,570,343 |
| Profit (Loss) From Operations | (115,290,633) | (131,990,668) | (27,570,343) |
| Finance Cost | - | - | - |
| Finance Income | - | - | - |
| Profit (Loss) Before Bonus and Tax | (115,290,633) | (131,990,668) | (27,570,343) |
| Income Tax Expense | - | - | - |
| Net Profit (Loss) for the Period | (115,290,633) | (131,990,668) | (27,570,343) |
Note: The above mentioned figures are subject to change during statutory audit of the books of accounts. Previous period figures have been reclassified/adjusted whenever considered necessary.
FIRST QUARTER DISCLOSURE AS OF 31ST ASHWIN 2083 AS PER SECURITIES REGISTRATION AND ISSUANCE REGULATION ANNEXURE-14 (RELATED TO SUB REGULATION 1 OF REGULATION 26)
1. Financial Statements
The unaudited financial statements for the First Quarter of FY 2083/84 and key financial ratios have been published along with this report.
Related party transactions: Business transaction, if any with related parties has been conducted at arm's length basis in line with section 93(c) of the Company Act, 2063.
The major financial highlights of the company have been given below:
Earnings Per Share (EPS) Current Ratio Net Worth Per Share (NWS) Market Price Per Share (MPS) P/E Ratio Return on Assets (ROA)
(6.22) 0.47 67.29 274.00 (44.03) (1.39%)
*Market price per share has been considered for date Ashwin 30, 2083.
2. Management Analysis
The Upper Trishuli-3B Hydroelectric Project was scheduled for completion by the end of Ashad 2084. However, on 2083/05/10, an unprecedented and devastating flood in the Lende-Bhotekoshi-Trishuli River caused extensive damage to the project, sweeping away
4. Analysis of Company's Share Transaction
TVCL shares were actively traded during the first quarter of FY 2083/84. The major highlights of share transactions during the period are as follows:
Maximum Price NPR Minimum Price NPR Closing Price NPR Total Transactions Transaction days Total Traded Volume Total Traded Value NPR
495.00 272.00 274.00 3,730.00 61 600,150.00 219,545,516.60
5. Problems/Challenges and Strategies
Problems and Challenges
i. Challenges in assessing the project's reconstruction modality following the alteration of river channels and the complete destruction of the powerhouse due to the flood.
ii. The total destruction of employee residential facilities has posed significant challenges in arranging basic accommodation and other essential facilities for personnel deployed in the protection and restoration of the project. Similarly, transporting the required machinery, equipment, and additional manpower to the project site is difficult.
iii. Increase in the overall project cost due to flood-induced damage and destruction of previously constructed civil structures.
iv. Arrangement of financing for the increased project cost resulting from the flood damage.
v. Delay in project completion and commencement of commercial operation beyond the initially estimated date of the end of Ashadh 2084 due to the Bhotekoshi-Trishuli flood.
vi. Increased risks of floods and landslides due to the geological conditions of the project area, as well as uncertainties in river flow patterns following the Bhotekoshi-Trishuli flood.
vii. Getting timely government decisions regarding the reconstruction of flood-affected project structures.
viii. Delays in the settlement of insurance claims relating to flood-damaged physical assets and loss of human life.
Strategies
i. A survey team has been engaged to assess the extent of damage and the possible ways of reconstruction of the project following the flood incident.
ii. Discussions are underway with the lead bank of the consortium (Nabil Bank Limited) and the promoters (Nepal Electricity Authority and Nepal Telecom) regarding the financing of the additional project costs arising from the flood damage.
iii. Discussions are underway with the insurance companies to ensure the timely settlement of insurance claims.
iv. Proper analysis of environment in order to mitigate maximum loss from natural disaster.
v. Requests have been submitted to concerned authorities regarding the facilitation required from the Government of Nepal for the reconstruction of the project.
6. Corporate Governance
Board of Directors, Audit Committee, Other Committees and Management Team are committed for strengthening good corporate governance within the company. The company has written manuals, policies, rules & regulations for proper functioning of the company. Further, the company has regular meetings with its top management in compliance with Corporate Governance Guidelines, 2074 issued by Securities Board of Nepal. The Provisions of SEBON Corporate Guidelines has been duly complied with.
7. Declaration
I, the Managing Director, of this Company take the responsibility of accuracy of the information and details mentioned in this report for the period up to First Quarter of FY 2083/84 and hereby declare that the information and details provided in this report are true, based on facts, and complete to the best of my knowledge.