Mandakini Hydropower Limited

Mandakini Hydropower Limited is a Nepali hydropower company that owns and operates the 4 MW Sardi Khola Hydropower Station in Kaski district, generating electricity under a run-of-river design which feeds into the national grid. The company is publicly listed under the ticker “MHL” on the Nepal Stock Exchange. Over the years, MHL has positioned itself as a small but steady producer contributing to Nepal’s renewable energy supply, aiming for reliability despite the inherent risks of hydrological variability that come with run-of-river plants. According to its latest financial disclosure, MHL posted a net profit of NPR 24.36 million in the first quarter of fiscal year 2082/83, indicating operational viability and ongoing revenues from power generation and sales. The company also proposed a dividend for fiscal year 2080/81 offering a 5% bonus share plus a 0.2632% cash dividend, reflecting commitment to shareholder returns (subject to regulatory approval). MHL has recently announced a plan to issue right shares (in 2025) to raise additional capital, which suggests expansion ambitions, possibly targeting new hydropower projects such as the proposed 2.9 MW Upper Sardi Khola Hydropower Project. Given its small scale and location, MHL combines modest generation capacity with a focus on sustainable hydropower generation offering investors exposure to clean energy with moderate scale but stable returns, provided river-flow and regulatory conditions remain favorable.