NHPC share price today

NHPC Ltd's share price was ₹78.49 at the close on 4 November 2026. It has been falling for 16 weeks. That is 1.6% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹70 and ₹85, and at that close it sat 58% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today NHPC Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 11 years the share price moved +274% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Best operating margin in 15 quarters

   Operating margin was 62% in the June 2026 quarter, against 56% a year earlier.

2. The 200-day average is the share's average price over about ten months. It closed at ₹77.74 on 30 Oct 2026, above that average of ₹77.

3. Started beating the market again after 13 weeks behind it

NHPC paid ₹1.61 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 2.05% at the ₹78.49 close on 4 November 2026. The last was a dividend of ₹0.21 a share, ex-date 12 August 2026.

NHPC dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. NHPC Ltd paid out 43% of its profit as dividends in FY26, and it paid a dividend in each of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

For April to June 2026 (the quarter ended 30 June 2026), NHPC reported revenue of ₹3,808 crore, up 18.5% from ₹3,214 crore a year earlier, and a profit of ₹1,178 crore, up 4.2% from ₹1,131 crore.

NHPC results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 18 May 2026, about January to March 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

NHPC closed at ₹78.49 on 4 November 2026, down 3.7% from ₹81.48 a year earlier (7 November 2025) and up 153.6% over five years. Its highest weekly close since March 2016 was ₹113.02 on 12 July 2024.

NHPC share price: then and now

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

562 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: NHPC closed at ₹78.49, up 1.0% on the week and up 9.4% on the month. 12 Aug 2026: ex-date for a dividend of ₹0.21 a share.

Earlier

• Results for April to June 2026: Revenue up 18.5% and profit up 4.2% on a year earlier.
• 18 May 2026: NHPC held its results call for January to March 2026. Management guided: Parbati-II final CERC tariff order planned by June 30, 2026; hearing on 25th with order reserved will trigger recognition of ₹300 crore under-recovered revenue plus interest from Commercial Operation Date.
• 10 Feb 2026: ex-date for an interim dividend of ₹1.40 a share.

On the call for January to March 2026, held on 18 May 2026, NHPC's management guided: Parbati-II final CERC tariff order planned by June 30, 2026; hearing on 25th with order reserved will trigger recognition of ₹300 crore under-recovered revenue plus interest from Commercial Operation Date.

“We are taking a conservative approach by booking revenue at 80%; about 450 crore of revenue has not been booked yet relative to our filed petitions”Director Finance, on the call for January to March 2026

What management guided

• Subansiri Lower generation guidance 5,000-5,500 million units next fiscal year; interim tariff order announcement remains critical for billing commencement, no timeline disclosed.
• Teesta-V generation resumption planned June 2026; restores ₹400-500 crore annual AFC run-rate revenue opportunity.
• Pakal Dul (1,000 MW) and Kiru (624 MW) planned January to March 2027 commissioning; combined 1,624 MW adds to regulated capacity base.
• Kwar (540 MW) planned completion March 2028; extends execution window relative to sister Chenab valley projects.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for January to March 2026, 18 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When NHPC reports July to September 2026, these are the 3 checks that show whether the story is still on course. First: Parbati-II CERC final tariff order landing by June 30, 2026 per management timeline - announces will trigger recognition of ₹300 crore under-recovered revenue plus interest from Commercial Operation Date, unlocking material earnings uplift and confirming or refuting current modeling assumptions.

NHPC is on 5 of our India lists: Momentum stocks, Dividend stocks, Small & mid cap stocks, Penny stocks and Power & green energy stocks.

NHPC Ltd earned ₹1,178 Cr of net profit in the Jun 2026 quarter, +4.2% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹4,220 Cr. Over 10 years profit has grown 6.0% a year on average. That is 30.9% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹1,131 Cr.

For the full year, FY26 profit was ₹4,220 Cr (+23.7% on the year before).

Why profit moved: revenue changed +18.5% on a year earlier and the margin moved +6.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +21.2% and revenue +11.5%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

NHPC Ltd reported ₹3,808 Cr of revenue in the Jun 2026 quarter, +18.5% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 3.4% a year on average. The last full year, FY26, came in at ₹11,615 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹12,210 Cr.

FY26 revenue was ₹11,615 Cr, +11.9% on the year before.

Recent pace: the last four quarters grew +11.5% on average, against 3.4% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +12.0%, against +13.0% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +24.0%, against +3.0% a year (accelerating).

NHPC Ltd's operating margin was 62.0% in the Jun 2026 quarter, 6.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 35.0% and 62.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed +5.7 percentage points on the year while gross margin changed +1.8 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

Over the last 3 years, 134% of NHPC Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹3,294 Cr of operating cash against ₹4,220 Cr of profit. After ₹14,445 Cr of spending on assets, free cash was −₹11,151 Cr: it spent more than its operations brought in.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 134% of profit came in as cash: the cash cycle got 111 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 8.3× depreciation over three years. The next section checks what that spending is building.

NHPC Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 83 days in FY26, down from 194 days in FY21. It spent ₹36,097 Cr on assets over the last 3 years.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹11,615 Cr, each day of that cycle ties up about ₹31.8 Cr, so roughly ₹2,641 Cr is tied up in the business at any time.

Spending on assets: ₹36,097 Cr over the last 3 years, against ₹4,353 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹34,948 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

NHPC Ltd's P/E is 20.8×, near the high end of its own history: higher than 77% of past readings. Its usual P/E (the middle reading) is 10.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.