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Hydropower stocks: how they compare

112 hydropower companies are listed on NEPSE, worth Rs 805.6 bn together. 62 are up today and 44 are down. Click any column heading to sort. Hydropower earnings swing with rainfall, so one wet year can look very different from a dry one - compare P/B and the dividend record over several years, not one quarter.

Typical P/E50.9
Typical P/B3.99
Typical return on equity7.8%
Typical dividend yield0.1%
Cheapest on P/BGLH 2.35
Operating capacity of these companies2,128 MW
Typical debt per Rs 1 of equityRs 1.17
Most borrowedDHPL Rs 25.9
Highest return on equity (up to 40%)MANDU 38.3%
CompanyPriceTodayMarket cap EPSP/EP/BROE %Dividend yield % Capacity (MW)Debt / equityInterest coverNet margin %Still building %
SOHLSolu Hydropower Limited 628.00 +0.05% Rs 62.8 bn 11.14 56.4 4.55 8.1 0.0 82.0 0.81 7.4 42.4 0.0
UPPEUPPERUpper Tamakoshi Hydropower Ltd 194.00 +0.52% Rs 41.1 bn 4.37 44.4 4.36 9.8 0.0 456.0 7.12 1.2 8.7 2.9
SAHASSahas Urja Limited 722.00 +0.98% Rs 33.0 bn 29.72 24.3 4.00 16.5 0.2 86.0 1.07 3.4 47.2 0.0
CHCLChilime Hydropower Company Limited 338.00 +0.06% Rs 32.1 bn 7.59 44.5 2.73 6.1 1.2 22.0 0.03 – 54.1 0.0
BPCLBPCLButwal Power Company Limited 694.00 -1.70% Rs 23.7 bn 9.84 70.5 3.29 4.7 0.9 21.9 0.07 25.9 32.8 0.2
APIAPIApi Power Company Ltd. 333.70 +0.21% Rs 21.3 bn 15.06 22.2 2.79 12.6 0.1 56.5 0.82 3.2 42.6 4.0
MENMountain Energy Nepal Limited 567.00 +0.35% Rs 21.3 bn 25.52 22.2 3.76 16.9 0.2 42.0 0.49 4.9 51.0 0.0
SHPCSHPCSanima Mai Hydropower Ltd. 558.30 +0.96% Rs 20.9 bn 7.85 71.1 4.06 5.7 0.0 29.0 0.00 12.5 42.7 0.0
TAMOTAMORSanima Middle Tamor Hydropower Lim... 599.00 +0.67% Rs 20.0 bn 18.73 32.0 4.65 14.5 0.9 73.0 2.06 2.0 30.3 0.0
MBJCMadhya Bhotekoshi Jalavidyut Compa... 329.00 +1.45% Rs 19.7 bn 2.83 116.3 3.42 2.9 0.0 102.0 2.55 1.2 7.9 0.0
GVLGreen Ventures Limited 559.00 +0.54% Rs 19.2 bn 12.94 43.2 4.50 10.4 0.1 52.4 1.36 2.2 28.3 0.0
NGPLNGPLNgadi Group Power Ltd. 396.80 +0.20% Rs 15.4 bn 1.27 312.4 2.87 0.9 0.1 – 0.13 2.7 33.2 0.0
SGHLSanigad Hydro Limited 473.00 +0.00% Rs 13.5 bn 8.03 58.9 3.95 6.7 0.0 38.5 1.34 4.1 55.4 0.0
RADHIRadhi Bidyut Company Ltd 725.90 +0.12% Rs 13.3 bn 19.75 36.8 4.27 11.6 0.0 4.4 0.12 16.0 62.1 0.0
SMHLSMHLSuper Madi Hydropower Limited 489.10 -1.39% Rs 13.0 bn 26.21 18.7 4.46 23.9 0.2 – 2.18 2.7 45.7 0.0
MANDUMandu Hydropower Ltd. 820.00 -0.36% Rs 12.3 bn 57.89 14.2 5.42 38.3 1.5 32.0 1.18 6.6 63.3 0.0
RHPLRASUWAGADHI HYDROPOWER COMPANY LIM... 168.20 -0.53% Rs 11.5 bn -21.13 – 2.51 0.0 0.0 111.0 3.04 -0.1 -114.0 0.4
PHCLPeoples Hydropower Company Limited 354.10 +0.31% Rs 11.3 bn 2.23 158.8 3.46 2.2 0.0 54.0 2.50 1.1 5.6 0.0
AHPCArun Valley Hydropower Development... 257.80 +0.43% Rs 10.9 bn 3.41 75.6 2.35 3.1 0.1 12.9 0.06 7.4 41.5 2.3
SKHLSuper Khudi Hydropower Limited 694.00 +0.22% Rs 10.8 bn 19.10 36.3 4.78 13.1 0.0 – 1.34 4,643.0 12.4 0.0
AKPLAKPLArun Kabeli Power Ltd. 256.20 -1.04% Rs 10.0 bn 2.05 125.0 2.52 2.0 0.2 25.0 0.70 1.3 11.5 0.0
SHELSHELSingati Hydro Energy Limited 304.60 -0.13% Rs 9.3 bn 6.78 44.9 2.77 6.2 0.0 25.0 0.77 2.0 29.4 0.0
SJCLSJCLSANJEN JALAVIDHYUT COMPANY LIMITED 246.10 -0.24% Rs 9.0 bn 2.25 109.4 2.94 2.7 0.0 57.3 2.83 1.1 5.0 0.0
BENHBeni Hydropower Project Ltd. 840.00 +5.78% Rs 8.7 bn 0.00 – 8.40 – 0.0 19.8 – – – –
SNORLSnow Rivers Limited 810.00 +0.63% Rs 8.4 bn 20.38 39.7 7.65 19.3 0.1 13.5 1.65 2.5 41.8 0.0
UPCLUNIVERSAL POWER COMPANY LTD 333.70 +0.21% Rs 8.3 bn 1.13 295.3 3.04 1.0 0.1 11.0 0.49 1.4 9.3 2.0
BHLBalephi Hydropower Limited 225.00 -0.22% Rs 8.2 bn 7.72 29.1 2.77 9.5 0.0 36.0 1.89 1.7 22.6 0.0
RIDIRIDIRidi Power Company Limited 333.70 +0.21% Rs 7.8 bn 2.04 163.6 3.27 2.0 0.0 12.3 0.53 1.5 12.7 0.0
RLELRidge Line Energy Limited 620.10 -0.78% Rs 7.3 bn 12.24 50.7 4.80 9.5 1.7 9.1 0.71 3.1 43.0 2.7
UMHLUMHLUnited Modi Hydropower Ltd. 557.00 +2.20% Rs 7.3 bn 5.74 97.0 5.26 5.4 0.1 10.0 0.55 2.5 26.7 0.0
VLUCLVision Lumbini Urja Company Limite... 376.90 +0.24% Rs 7.2 bn 4.73 79.7 2.74 3.4 1.0 25.0 1.44 1.3 11.6 0.0
USHECUpper Solu Hydro Electric Company... 517.00 +1.15% Rs 7.0 bn 15.46 33.4 4.34 13.0 0.0 23.5 1.83 2.0 28.1 0.0
AKJCAKJCLAnkhu Khola Jalvidhyut Company Ltd 343.90 -0.61% Rs 6.9 bn 3.18 108.1 3.67 3.4 0.0 7.0 0.30 2.0 26.2 0.0
HPPLHPPLHimalayan Power Partner Ltd. 414.00 -0.24% Rs 6.6 bn 12.57 32.9 3.17 9.6 0.0 27.0 1.40 1.8 26.1 0.0
NHPCNHPCNational Hydro Power Company Limit... 254.70 -0.51% Rs 6.3 bn -0.93 – 2.67 0.0 0.0 7.5 0.32 -0.9 -16.6 50.2
MELModi Energy Limited 211.00 -0.42% Rs 6.1 bn 2.18 96.8 3.59 3.7 0.0 20.0 1.77 1.3 10.5 0.0
SSHLSSHLShiva Shree Hydropower Limited 206.50 +0.34% Rs 6.1 bn -4.03 – 3.90 0.0 0.0 22.2 1.85 0.5 -31.7 0.0
KAHLKalanga Hydro Limited 429.80 -0.97% Rs 6.0 bn 19.24 22.3 4.03 18.0 0.0 15.3 1.86 2.6 40.9 0.0
HDHPHDHPCHimal Dolakha Hydropower Company L... 214.00 -0.37% Rs 6.0 bn -3.40 – 2.97 0.0 0.0 12.5 0.10 -2.4 -136.8 0.0
DORDIDordi Khola Jal Bidyut Company Lim... 273.80 +0.66% Rs 5.8 bn 1.42 192.8 2.58 1.3 0.0 12.0 0.70 1.4 10.1 0.0
SIKLESSikles Hydropower Limited 587.30 +0.65% Rs 5.7 bn 14.07 41.7 5.15 12.3 0.1 – 0.76 3.7 40.5 0.0
BJHLBJHLBhujung Hydropower Limited 545.00 -1.62% Rs 5.5 bn -2.60 – 6.13 0.0 0.0 7.5 1.01 0.7 -15.3 0.0
GHLGhalemdi Hydro Limited 323.00 -0.31% Rs 5.3 bn -1.33 – 3.40 0.0 0.0 5.0 0.44 0.6 -15.7 0.0
SGHCSGHCSwet-Ganga Hydropower & Constructi... 332.00 +0.61% Rs 5.3 bn 11.13 29.8 3.97 13.3 0.0 28.1 3.31 1.6 20.9 0.0
SKHELSuryakunda Hydro Electric Limited 764.20 +1.89% Rs 5.3 bn -4.81 – 8.46 0.0 0.0 11.0 2.66 0.7 -13.3 0.0
RFPLRiver Falls Power Limited 375.00 +2.04% Rs 5.3 bn 2.71 138.4 3.13 2.3 0.0 – 0.66 1.3 14.4 0.0
DHELDHELDaramkhola Hydro Energy Limited 508.00 +0.40% Rs 5.2 bn -9.88 – 4.30 0.0 0.0 9.6 1.17 -0.1 -89.2 0.0
LECLiberty Energy Company Limited 231.30 +0.00% Rs 5.2 bn 1.12 206.5 3.29 1.6 0.0 – 2.75 1.4 14.5 0.0
HURJAHimalaya Urja Bikas Company Limite... 262.80 -0.45% Rs 5.2 bn 7.57 34.7 2.68 7.7 0.0 19.0 0.84 3.0 17.7 0.0
TVCLTVCLTrishuli Jal Vidhyut Company Limit... 287.00 -1.03% Rs 5.1 bn -7.36 – 3.77 0.0 0.0 – 3.62 – -35,658.7 114.1
BHDCBindyabasini Hydropower Developmen... 431.80 +0.42% Rs 5.1 bn 11.79 36.6 3.65 10.0 0.1 15.4 1.14 2.1 30.4 0.0
TPKHLTaksar Pikhuwa Khola Hydropower Li... 426.10 -1.57% Rs 5.1 bn 2.96 144.0 4.16 2.9 0.0 8.0 0.66 1.3 14.2 0.0
NYADINyadi Hydropower Limited 340.00 +0.56% Rs 5.1 bn 2.70 125.9 4.94 3.9 0.0 30.0 4.13 1.1 6.1 0.0
BHCLBHCLBikash Hydropower Company Limited 546.00 +0.00% Rs 5.0 bn 10.81 50.5 4.85 9.6 0.1 4.6 0.14 5.5 51.4 0.0
SMJCSagarmatha Jalabidhyut Company Lim... 422.00 +0.72% Rs 5.0 bn 3.78 111.6 3.85 3.5 0.1 9.6 0.68 1.7 17.2 0.0
MEPDLMount Everest Power Development Li... 568.00 +2.90% Rs 4.9 bn 10.09 56.3 5.10 9.1 0.0 12.0 1.35 1.7 25.7 0.0
SIPDShikhar Power Development Limited 498.00 -1.17% Rs 4.9 bn -7.73 – 5.31 0.0 0.0 5.0 0.73 -0.5 -208.6 0.0
SPDLSynergy Power Development Ltd. 356.00 +0.56% Rs 4.7 bn 6.05 58.8 3.26 5.5 0.1 10.0 0.21 4.6 34.9 0.0
GLHGreenlife Hydropower Limited 263.00 +0.65% Rs 4.7 bn 2.33 112.9 2.35 2.1 0.0 – 4.31 307.8 3.7 0.0
MSHLMSHLMid-Solu Hydropower Limited 550.00 +0.73% Rs 4.7 bn 14.55 37.8 4.65 12.3 0.1 9.5 1.15 2.8 39.7 0.0
KPCLKalika power Company Ltd 472.50 +0.75% Rs 4.4 bn 11.24 42.0 3.77 9.0 0.1 – 0.10 30.8 52.7 0.0
SANVSANVISanvi Energy Limited 483.50 -0.31% Rs 4.3 bn -7.72 – 4.55 0.0 1.1 12.8 1.66 0.5 -30.5 0.0
RURURu Ru Jalbidhyut Pariyojana Limite... 629.00 -0.47% Rs 3.9 bn 10.40 60.5 4.88 8.1 0.9 5.0 0.12 16.9 46.3 0.0
MMKJMMKJLMathillo Mailun Khola Jalvidhyut L... 389.70 +1.75% Rs 3.9 bn 11.13 35.0 3.87 11.1 0.0 – 1.91 1.8 25.7 0.0
HHLHimalayan Hydropower Limited 351.00 +0.00% Rs 3.8 bn 7.32 48.0 4.12 8.6 0.0 12.0 1.29 1.9 24.3 0.0
BUNGALBungal Hydro Limited 458.10 -0.63% Rs 3.8 bn 23.30 19.7 5.25 26.7 0.0 10.7 2.79 2.7 41.6 0.0
BARUBARUNBarun Hydropower Co. Ltd. 322.20 -0.56% Rs 3.6 bn 2.08 154.9 2.98 1.9 0.1 4.5 0.19 2.0 21.4 0.0
MAKARMakar Jitumaya Suri Hydropower Lim... 454.50 +2.13% Rs 3.5 bn 33.68 13.5 3.71 27.5 0.1 – 1.85 3.4 49.6 0.0
UHEWAUpper Hewakhola Hydropower Company... 595.00 -0.02% Rs 3.4 bn 18.91 31.5 4.96 15.8 0.1 8.5 1.28 2.8 41.4 0.0
KHPLKalinchock Hydropower Limited 621.00 +1.97% Rs 3.4 bn 1.10 564.5 5.84 1.0 0.0 – 1.15 – 3.1 0.0
BGWTBGWTBhagawati Hydropower Development C... 503.00 -0.79% Rs 3.4 bn 9.01 55.8 4.44 8.0 1.2 4.5 0.26 6.7 39.6 0.0
PMHPPMHPLPanchakanya Mai Hydropower Ltd 309.00 +0.98% Rs 3.4 bn 6.07 50.9 3.71 7.3 0.0 – 1.55 – 19.2 0.0
MHNLMHNLMountain Hydro Nepal Limited 265.00 +0.00% Rs 3.3 bn 12.78 20.7 3.78 18.2 0.0 22.1 2.83 1.8 28.7 0.0
PPCLPanchthar Power Company Limited 343.50 +0.50% Rs 3.3 bn 8.85 38.8 3.48 9.0 0.0 14.9 1.80 1.6 22.5 0.0
MHLMandakini Hydropower Limited 510.00 +0.20% Rs 3.3 bn 8.76 58.2 4.40 7.6 0.0 4.0 0.50 3.8 46.5 0.0
RHGCLRapti Hydro and General Constructi... 256.50 -1.35% Rs 3.1 bn -2.16 – 2.74 0.0 0.0 5.0 0.52 0.0 -30.2 0.0
YMHLYambaling Hydropower Limited 441.00 +0.68% Rs 3.1 bn 10.92 40.4 4.64 – 0.0 7.3 – – – –
TPCTerhathum Power Company Limited 378.80 +0.50% Rs 3.0 bn 11.17 33.9 3.66 10.8 0.0 7.5 0.35 4.2 48.9 0.0
SMHSuper Mai Hydropower Limited 565.00 +2.62% Rs 3.0 bn 9.42 60.0 4.31 7.2 0.2 7.8 0.88 2.0 27.2 0.0
PPLPPLPeople's Power Limited 318.00 -0.31% Rs 3.0 bn -2.29 – 3.10 0.0 0.0 5.0 0.00 -6.5 -24.2 0.0
NHDLNHDLNepal Hydro Developers Ltd. 645.00 -0.29% Rs 2.7 bn 14.00 46.1 5.16 11.2 0.1 3.5 0.05 10.7 52.4 0.0
MKHCMaya Khola Hydropower Company Limi... 270.20 +1.58% Rs 2.7 bn 25.52 10.6 3.99 37.7 0.0 14.9 3.31 2.8 43.2 0.0
UNHPLUnion Hydropower Limited 357.20 -1.57% Rs 2.7 bn 4.36 81.9 3.40 4.2 0.0 3.0 0.00 – 40.1 9.8
APHLAPHLAppolo Hydropower Limited 564.90 +1.24% Rs 2.7 bn -4.12 – 5.52 0.0 0.0 6.0 1.91 -0.1 -28.3 0.0
UMRHUnited IDI Mardi RB Hydropower Lim... 513.80 -0.21% Rs 2.5 bn 11.53 44.6 4.59 10.3 0.1 7.0 1.40 3.0 30.9 0.0
KKHCKKHCKhanikhola Hydropower Co. Ltd. 265.50 +1.34% Rs 2.5 bn 15.71 16.9 2.92 17.3 0.0 6.4 0.70 5.0 53.4 0.0
MHCLMHCLMolung Hydropower Company Limited 283.50 +0.53% Rs 2.3 bn 7.19 39.4 3.25 8.2 0.0 7.0 0.51 2.5 31.6 0.0
HIMSHIMSTARHim Star Urja Company Limited 595.20 -0.63% Rs 2.2 bn -29.72 – 8.74 0.0 0.0 5.0 3.14 -0.6 -76.3 0.0
BNHCBuddhabhumi Nepal Hydropower Compa... 274.00 +0.74% Rs 2.2 bn 1.49 183.9 2.72 1.5 0.0 5.0 0.92 1.2 6.4 0.0
MKHLMKHLMai Khola Hydropower Limited 515.90 +0.94% Rs 2.0 bn 13.83 37.3 4.51 12.1 1.9 3.0 0.52 3.2 24.9 0.0
EHPLEastern Hydropower Limited 325.00 +0.00% Rs 2.0 bn 13.53 24.0 4.07 17.0 0.0 5.0 1.10 2.9 40.5 0.0
SPCSamling Power Company Limited 398.50 +0.13% Rs 2.0 bn 3.97 100.4 3.63 3.6 0.0 9.5 2.46 1.2 8.4 0.0
CHLCHLChhyangdi Hydropower Ltd. 257.00 -1.12% Rs 2.0 bn 1.72 149.4 3.05 2.0 0.1 6.0 0.96 1.2 7.6 0.0
MEHLManakamana Engineering Hydropower... 242.90 -0.45% Rs 1.9 bn 1.73 140.4 3.76 2.7 0.0 5.0 1.39 1.3 9.4 0.0
MABEMABELMabilung Energy Limited 502.00 -0.20% Rs 1.9 bn -1.16 – 4.91 0.0 0.0 5.0 2.01 0.9 -5.3 0.0
IHLIngwa Hydropower Limited 317.00 +0.63% Rs 1.9 bn 2.64 120.1 3.24 2.7 0.0 9.7 2.76 1.1 5.4 0.0
CKHLCKHLChirkhwa Hydropower Limited 438.00 +3.18% Rs 1.8 bn 13.25 33.1 4.37 13.2 0.0 4.7 1.72 2.1 40.3 0.0
TSHLThree Star Hydropower Limited 338.00 +0.30% Rs 1.7 bn -6.40 – 5.50 0.0 0.0 7.2 2.86 0.4 -23.2 0.0
DOLTIDolti Power Company Limited 308.90 -0.35% Rs 1.7 bn 0.87 355.1 5.16 1.5 0.0 4.8 1.83 1.1 4.7 0.0
ULHCUpper Lohore Khola Hydropower Comp... 320.00 -0.31% Rs 1.6 bn 5.03 63.6 3.63 – 0.0 4.0 – – – –
BEDCBhugol Energy Development Company... 295.00 -0.84% Rs 1.6 bn -1.70 – 6.37 0.0 0.0 3.8 2.06 0.7 -14.8 0.0
JOSHIJoshi Hydropower Development Compa... 258.00 +0.78% Rs 1.6 bn -6.54 – 3.97 0.0 0.0 3.0 0.00 – -452.5 0.0
SPHLSayapatri Hydropower Limited 510.40 +2.28% Rs 1.5 bn 1.00 510.4 5.56 1.1 0.0 2.5 0.65 1.2 6.0 0.0
MCHLMCHLMenchhiyam Hydropower Limited 257.10 +1.38% Rs 1.4 bn -1.03 – – 4.0 0.0 4.7 – 0.9 -4.2 0.0
KBSHKutheli Bukhari Small Hydropower L... 905.00 +1.57% Rs 1.3 bn 7.46 121.3 6.95 5.7 0.1 – 0.08 7.4 32.7 0.0
AHLAsian Hydropower Limited 380.00 +1.06% Rs 1.3 bn -17.41 – 5.55 0.0 0.0 – 3.64 0.1 -72.7 0.0
SPLShuvam Power Company Limited 576.70 -0.55% Rs 1.2 bn 3.58 161.1 5.51 3.4 0.0 – 0.14 5.0 30.3 0.0
RAWARAWARawa Energy Development Limited 407.60 -0.59% Rs 1.1 bn 11.17 36.5 4.72 12.9 0.0 3.0 1.65 2.2 29.8 0.0
MKJCMKJCMailung Khola Jal Vidhyut Company... 296.90 -0.70% Rs 1.1 bn 0.46 645.4 2.91 0.5 0.0 – 0.67 1.1 1.7 0.0
USHLUpper Syange Hydropower Limited 505.10 -0.77% Rs 1.1 bn 0.87 580.6 5.05 0.9 0.0 2.4 1.51 1.1 2.9 0.0
BHPLBarahi Hydropower Public Limited 429.00 +1.95% Rs 1.1 bn -0.30 – 8.57 0.0 0.0 1.5 1.36 1.0 -2.5 0.0
DHPLDHPLDibyashwori Hydropower Ltd. 269.00 -1.47% Rs 0.7 bn 5.51 48.8 32.10 65.8 0.0 3.3 25.92 1.4 13.9 0.0

Green P/B means cheaper than the sector's typical figure. Debt / equity above 2 and interest cover under 1.5 are shown in red: a river-flow company with a lot of debt has little room for a dry year. A high return on equity with a high debt / equity is mostly borrowing at work, not strength. Financial figures are from each company's latest report (cumulative for the financial year). Capacity is the total of the company's operating plants above 1 MW in the Department of Electricity Development's list (checked 2026-11-05, 95 of 112 companies matched); plants still being built are not counted, and a dash means we could not match the company. A dash (–) means the company has no figure: a loss-making company has no P/E, and a company that pays no dividend has no yield. P/E and P/B are most useful against the typical figure above, not alone. This is a comparison, not investment advice.