Mandu Hydropower Limited
माण्डु हाइड्रोपावर लिमिटेड
Unaudited Financial Reports (Quarterly)
AS on 4th Quarter Ended 32 Ashad, 2083 of the Fiscal Year 2082/083
Fourth Quarter Disclosure As of 32 Ashad 2083
As per Securities Registartion and Issuance Regulation
Annexure-14 (Related to Sub Regulation 1 of Regulation 26)
Particulars As at 32, Ashad 2083 (Unaudited) As at 30, Chaitra 2082 (Unaudited) As at 32, Ashad 2082 (Audited)
ASSETS
| Non Current Assets | |||
| Property, Plant and Equipment | 650,156 | 732,985 | 374,919 |
| Capital Work In Progress | - | - | 935,338,801 |
| Intangible Assets | 4,621,408,937 | 4,383,483,097 | 3,003,137,123 |
| Other Non Current Assets | 21,527,374 | 21,527,374 | 21,527,374 |
| Investment | 400,000,000 | 400,000,000 | 400,000,000 |
| Total Non Current Assets | 5,043,586,467 | 4,805,743,456 | 4,360,378,217 |
| Current Assets | |||
| Inventories | 4,723,485 | 4,723,485 | 4,723,485 |
| Trade and Other Receivables | 166,085,918 | 112,993,240 | 1,216,337 |
| Other Current Assets | 18,059,686 | 347,378,942 | 347,386,183 |
| Cash & Cash Equivalents | 5,356,357 | 23,634,374 | 5,265,617 |
| Total Current Assets | 194,225,445 | 488,730,041 | 358,591,622 |
| TOTAL ASSETS | 5,237,811,912 | 5,417,793,828 | 4,718,969,839 |
EQUITY AND LIABILITIES
| Equity | |||
| Share Capital | 1,363,637,000 | 1,363,637,000 | 1,363,637,000 |
| Share Premium | 170,598,065 | 170,598,065 | 170,598,065 |
| Retained Earnings and Reserves | 686,873,256 | 640,070,892 | 368,785,778 |
| Total Equity | 2,221,108,321 | 2,174,305,957 | 1,903,020,843 |
| Liabilities | |||
| Non Currents Liabilities | |||
| Loan and Borrowings | 2,400,504,165 | 2,895,618,859 | 2,190,465,969 |
| Total Non Current Liabilities | 2,400,504,165 | 2,895,618,859 | 2,190,465,969 |
| Current Liabilities | |||
| Loan and Borrowings | 520,000,000 | 100,000,000 | 459,378,220 |
| Employee Benefit | 8,661,750 | 7,381,013 | 2,018,953 |
| Trade and other payables | 87,537,675 | 117,167,668 | 164,085,853 |
| Total Current Liabilities | 616,199,425 | 224,548,681 | 625,483,026 |
| Total Liabilities | 3,016,703,591 | 3,120,167,540 | 2,815,948,995 |
| TOTAL EQUITY AND LIABILTIES | 5,237,811,912 | 5,294,473,497 | 4,718,969,839 |
Unaudited Statement of Profit or Loss and Other Comprehensive Income
AS on 4th Quarter Ended 32 Ashad, 2083 of the Fiscal Year 2082/083
| Particulars 1,Shrawan | 2082 | 32, | 2083 | 2082 | 30, | 2082 | 2081 | 32, | 2082 |
| Income from Power Sales | 794,934,701 | 575,660,806 | 204,742,193 | ||||||
| Insurance Claim for Loss on Revenue | - | - | - | ||||||
| Other Income | 5,861 | 5,013 | 588,255,799 | ||||||
| Total Income | 794,940,561 | 575,665,819 | 792,997,992 | ||||||
| Less: | |||||||||
| Employee Benefit Expenses | 28,051,477 | 23,665,119 | 24,661,932 | ||||||
| Operation and maintanence Expenses | 61,428,462 | 32,756,740 | 22,999,470 | ||||||
| Administrative Exp | 14,912,255 | 7,424,096 | 12,114,672 | ||||||
| Operating Profit/(Loss) | 690,548,367 | 511,819,864 | 733,221,918 | ||||||
| Less: | |||||||||
| Financial Cost | 194,129,685 | 138,523,581 | 161,891,324 | ||||||
| Depreciation, Amortization & Impairment of Assets | 168,083,081 | 117,405,189 | 507,550,286 | ||||||
| Profit/(Loss) Before Bonus & Tax | 328,335,601 | 255,891,093 | 63,780,309 | ||||||
| Staff Bonus | 6,566,712 | 5,117,822 | 1,275,606 | ||||||
| Corporate Social Responsibility | 3,217,689 | 2,507,733 | 625,047 | ||||||
| Current Tax | - | - | - | ||||||
| Deffered Tax | - | - | - | ||||||
| Net Profit/(Loss) | 318,551,200 | 248,265,539 | 61,879,656 | ||||||
| Major Financial Highlights | |||||||||
| Particulars As at | 32, | 2083 | 30, | 2082 | 32, | 2082 | |||
| Earning Per Share (EPS) | 23.36 | 18.21 | 4.54 | ||||||
| Annualized Earnings Per Share (EPS) | 23.36 | 24.27 | 4.54 | ||||||
| Current Ratio | 0.32 | 2.18 | 0.57 | ||||||
Return on Assets 6.08% 4.69% 1.31%
| Net Worth Per Share | 162.88 | 159.45 | 139.55 |
| Market Value Per Share | 800.00 | 849.90 | 903.53 |
| Price Earning Ratio | 34.25 | 35.01 | 199.11 |
Financial Statements
1) The unaudited financial statements for the Fourth quarter have been published along with this report.
2) Pursuant to the life of the project, the company have amortized the intangible assets so that all the investments made on electricity generation, transmission, or distribution are paid back in an average of 30 years from the Commercial Operation Date. In the case of other Fixed Assets, depreciation has been calculated based on Straight Line Method.
3) As of the 32nd of Ashad 2083, the company has generated invoices totaling NPR 794,934,701.00.
4) A 2% bonus is calculated in line with the provisions of the Electricity Act 2049.
5) Company had obtained Generation license and has done Power Purchase Agreement (PPA) with NEA for the capacity enhancement of additional 10MW to its existing 22MW project making total 32MW project.
6) Corporate Social Responsibility Expenses incurred during the period is charged to CSR Fund.
7) Earnings per Share (EPS) is calculated on annualized basis.
8) The Company had made Investment at cost of Rs 400,000,000 in Tundi Power Company Limited.
9) The invoices received amount relating to 22 MW reconstruction and additional 10 MW construction project has been transferred to intangible asset.
10) The company has declared 10% bonus shares of its paid-up capital from the retained earnings upto Fiscal Year 2081/082, subject to approval from ERC & upcoming AGM.
11) The previous period's figures are regrouped and re-arranged wherever necessary.
Management Analysis
1) The Company has successfully commenced Bagmati small hydropower project 22 MW in 19 Chaitra 2075. The powerhouse and headworks of the project has been massively damaged by flood and landslide caused by unexpected heavy rainfall occurred on 27th and 28th September, 2024 (11th and 12th Ashwin 2081). The power generation of the project has been completely stopped since 27th September 2024.
2) The reconstruction of project has been completed and from August 4, 2025 (Shrawan 19, 2082) unit II has started generating electricity and unit I started its generation from September 27, 2025 (Bhadra 11, 2082). Also additional 10 MW started its generation from 09 April 2026 (Chaitra 26, 2082).
3) The debt servicing of the project is regular.
Legal Proceedings
1) During the period, no legal cases were raised or pending against the company.
2) Analysis of Company's Share Transaction
3) The Major highlights of Share transactions during the quarter are as follows:
Maximum Price (NPR) Minimum Price (NPR) Closing Price (NPR) Total Turnover (NPR) Total Transaction No. of Transaction Day Total Traded Volume
871.30 766.00 800 84,183,651.10 2341 64 103,115
Problems & Challenges
Internal Challenges
1) Retention of skilled human resources.
2) To manage the overhead cost and maintain operational efficiency.
External Challenges
1) Loss due to a natural disaster- Flood, Landslide, Earthquake, drought, force measure issue, etc.
2) Lack of domestic supplier and vendors for hydropower equipment and spare parts.
3) Hydrological Risk.
Corporate Governance
The Board of Directors, Audit Committee and Management team are committed to strengthening good corporate governance within the company.
Declaration
I, the Chief Operating Officer of this Company, take the responsibility for the accuracy of the information and details mentioned in this report for the period up to the 4th quarter of FY 2082/083, hereby declare that the information and details provided in this report are true, based on facts, and complete to the best of my knowledge and that information necessary for taking informed decision by the investor are not concealed.
