Unaudited Financial Reports (Quarterly)
As on Ashadh End, 2083 4th Quarter of Fiscal Year 2082/83
Statement of Financial Position (figures in NPR)
| Particulars Quarter Ending Ashadh | 2083 | 2082 | 2082 |
| Assets | |||
| Non-Current Assets | |||
| Property, plant and equipment | 1,450,695 | 2,444,675 | 3,383,181 |
| Intangible assets | 2,532,616,743 | 2,567,637,223 | 2,627,900,550 |
| ROU Asset | 10,338,026 | - | 13,784,034 |
| Total Non-Current Assets | 2,544,405,464 | 2,570,081,898 | 2,645,067,765 |
| Current Assets | |||
| Cash and cash equivalents | 29,088,894 | 83,413,716 | 40,081,518 |
| Other Financial Assets | 90,951,966 | 59,458,325 | 62,700,334 |
| Other Assets | 6,869,770 | 6,080,286 | 6,080,286 |
| Total Current Assets | 126,910,630 | 148,952,326 | 108,862,138 |
| Total Assets | 2,671,316,092 | 2,719,034,224 | 2,753,929,903 |
| Equity and Liabilities | |||
| Equity | |||
| Equity share capital | 760,000,000 | 760,000,000 | 760,000,000 |
| Retained Earnings | 111,100,841 | 119,974,387 | 32,856,914 |
| Total Equity | 871,100,841 | 879,974,387 | 792,856,914 |
| Liabilities | |||
| Non-Current Liabilities | |||
| Long Term Borrowing | 1,780,473,983 | 1,820,472,908 | 1,936,673,983 |
| Lease Liability | 12,929,120 | 13,516,212 | 15,194,782 |
| Total Non-Current Liabilities | 1,793,403,103 | 1,833,989,120 | 1,951,868,764 |
| Current Liabilities | |||
| Short Term Borrowing | - | - | 5100000 |
| Trade Payables | - | 256,220 | 82549 |
| Other Current Liabilities | 6,812,148 | 4,814,497 | 4,021,676 |
| Total Current Liabilities | 6,812,148 | 5,070,717 | 9,204,225 |
| Total Liabilities | 1,800,215,251 | 1,839,059,836 | 1,961,072,989 |
| Total Equity and Liabilities | 2,671,316,092 | 2,719,034,224 | 2,753,929,903 |
| Statement of Profit or Loss | |||
| Particulars Quarter Ending Upto Ashadh | 2083 | 2082 | 2082 |
| Revenue from sale of Electricity | 392,099,565 | 323,952,005 | 388,632,410 |
Revenue from service concession agreement 0 - 0
| Less:Cost of sales | 26,728,601 | 10,265,703 | 23,476,725 |
| Gross Profit | 365,370,965 | 313,686,302 | 365,155,685 |
| Depreciation & Amortization | 100,662,301 | 74,985,867 | 99,999,338 |
| Other Income | 925,350 | - | 76,902 |
| Employee Benefits Costs | 18,560,388 | 13,770,248 | 21,181,722 |
| Administrative and Other Operating Expenses | 17,179,056 | 22,681,319 | 13,253,630 |
| Profit from operation | 229,894,570 | 202,248,867 | 230,797,898 |
| Finance Costs | 150,085,764 | 115,131,394 | 183,169,467 |
| Profit Before tax & Employee Bonus | 79,808,806 | 87,117,473 | 47,628,431 |
| Employee Bonus | 1564878.549 | - | 933,891 |
| Profit before Tax | 78,243,927 | 87,117,473 | 46,694,540 |
| Income tax Expense | |||
| Current Tax | - | - | - |
| Deferred Tax | - | - | - |
| Profit for the Year | 78,243,927 | 87,117,473 | 46,694,540 |
| Other Comprehensive Income | |||
| Other Comprehensive Income not to be reclassified to profit or loss in subsequent periods | - | - | - |
| i. Re-measurement (losses)/ Gains on post Employment Defined Benefit Plans | - | - | - |
| ii. Equity instruments through Other Comprehensive Income | - | - | - |
| iii. Tax Relating items that will not be classified to profit or loss | - | - | - |
| Other comprehensive gain/ (loss) for the year, net of tax | - | - | - |
| Total comprehensive gain/ (loss) for the year, net of tax | 78,243,927 | 87,117,473 | 46,694,540 |
Fourth Quarter Disclosure as of Ashadh end, 2083 (16th July 2026) as per Securities Registration and Issuance Regulation Annexure 14
(Related to Sub-regulation 1 of Regulation 26)
1. Financial Statements
a) The financial statements for the period ended as on Fourth quarter have been published as a part of this report.
b) The unaudited figures for FY 2082-83 (i.e. quarter ending Ashadh 2083) have been presented for improved clarity and accuracy.
c) The financial information as of the end of the fourth quarter is presented based on unaudited figures for informational purposes only. These figures have not undergone independent audit or review by external auditors.
d) Key Financial Ratios at the end of the quarter:
| Other Financial Highlights | |||
| Particulars Quarter Ending Upto Ashadh | 2083 | 2082 | 2082 |
| Interest Income | 2,250 | - | 5,232 |
| Interest Expenses | 150,085,764 | 115,131,394 | 183,169,467 |
| Net Interest Income | -150,083,514 | -115,131,394 | -183,164,235 |
| Total Operating Income | 393,022,665 | 323,952,005 | 388,704,080 |
| Operating Profit | 228,327,441 | 202,248,867 | 229,858,775 |
| Profit Before Tax | 78,243,927 | 87,117,473 | 46,694,541 |
| Tax | - | - | - |
| Net Profit | 78,243,927 | 87,117,473 | 46,694,541 |
| EPS(Basic) | 10.30 | 11.46 | 6.14 |
| Annualized Earning Per Share | 10.30 | 15.28 | 6.14 |
| PE Ratio | 47.40 | 46.42 | 99.65 |
ROA 2.93% 3.20% 1.70%
ROE 8.98% 9.94% 5.89%
Net worth Per Share 114.62 115.79 104.32
2. Management Analysis
a) Any changes in the stock, income and liquidity during the quarter and reason for change, if any:
Revenue for Ashadh 2083 amounted to NPR 39,20,99,565 showing a slight increase compared to NPR 38,86,32,410 in ashad 2083. This is because of increment in the electricity selling rate compared to the previous year.
b) The statement of management analysis on the upcoming business plan:
The company management is persistently working on improving internal control system and risk management practices.
c) The analytical statement of the possible effect on company's profitability, stock and cash flow based on the past experience:
The Company has maintain steady progress and there has been no such other incident during the period which might have negative impact on the profit or cash flow of the company.
3. Statement relating to Legal Action
a) Case filed by or against the Company during the quarter, if any: None
b) Case filed by or against the Company or its Promoter or Director for violation of the prevailing regulation or committing the criminal offence, if any: None
c) Case filed against the Promoter or Director on financial crime, if any: None
4. Analysis of the share transaction of the company
a) During the Fourth quarter, MAKAR shares traded actively for a day till the end of Chaitra 2082 as its shares were listed in NEPSE on 21st of Baishak 2080 and began trading on 25th Baishak 2080.
b) The highlights of the share transactions during the quarter are as follows:
Maximum Price (NRP) Minimum Price (NRP) Closing Price (NRP) Transaction Days
535.10 448 488 64
5. Problems and Challenges
a) Internal
• Retention and optimization of skilled human resource.
• Maintaining operational Efficiency
b) External
• nconsistent regulatory and policy level commitment from the government regulatory agencies in development of hydroelectric projects.
• Lack of domestic suppliers and vendors for hydropower equipment and spare parts.
• Inadequate existing transmission line.
c) Strategies
• Implementation of HR optimization plan.
• Lobbying with government authorities for investment friendly environment.
• Identification of different financial instruments along with risk assessment.
• Development of various internal policies and procedures.
6. Corporate Governance
The Board of Directors are committed to upholding good corporate governance practice in the company through implementation of policies and guidelines for proper functioning of the company. Various committees and sub-committee that are to be formed in compliance with Companies act, 2063 and Corporate Governance Guidelines, 2074 issued by Security Exchange Board of Nepal are in the process of formation.
7. Declaration of Truth, Tactfulness
The Company, take responsibility for accuracy of the information and details mentioned in this report. I also declare that the information and details mentioned in this report are complete, true, based on facts and the information, details necessary for making informed decision by the investors are not concealed.
