Three Star Hydropower Limited

HydroPowerLow Cap

NPR 359.90

NPR +6.9+1.95%

09:14 AM NPT · Sep 24, 2026

Est. 2072-11-07 B.S. (incorporated as a private company; later converted to public limited and listed on NEPSE on 2080-04-23) · Khotang District (Corporate operations managed from Kathmandu, Nepal) · CEO: Mr. Uddhav Raj Shiwakoti

Three Star Hydropower Limited is a publicly-listed Nepali hydropower company that seeks to harness Nepal’s river resources via small to mid-scale run-of-river hydroelectric projects. Its main project, the Sapsup Khola Small Hydroelectric Project, harnesses the flow of Sapsup Khola in Khotang district and has an installed capacity of 6.6 MW (or 7.151 MW depending on licence data). The project includes headworks, a headrace tunnel, powerhouse and a 3 km 33 kV transmission line to evacuate power to the national grid. TSHL was originally incorporated in 2015 as a private-limited company and later converted to a public-limited company. It went public and got listed on the Nepal Stock Exchange (NEPSE) on 10 August 2023. The firm currently has 4,925,000 shares listed (face value NPR 100) and a paid-up capital of NPR 492,500,000. As of late 2025, TSHL’s market capitalization is several billions of Nepali rupees, indicating significant investor interest in the hydropower segment even for relatively small-scale plants.Like many run-of-river hydropower firms, TSHL faces ups and downs due to hydrology (seasonal flow variation), but its modest size gives it flexibility. Recent reporting shows that in Q4 of FY 2024/25, the company generated revenue of around NPR 150.62 million and nearly broke even — a sign of stabilization after prior years of losses or fluctuations. The board of directors has also recently proposed a 100% right-share issuance (1:1 ratio) to raise funds: part of the proceeds intended to repay debt from project construction, and another part to invest in a new 9 MW project (Upper Bhurundi A Hydropower). All told, Three Star Hydropower Limited represents the profile of a Nepal-based small/mid-scale independent power producer (IPP) that has moved from private development to public-market listing combining local hydro potential with public-shareholder financing. For investors and stakeholders, TSHL offers exposure to Nepal’s hydropower growth but also brings hydrology risk, generation variability, and project-sizing constraints common to small hydropower firms.

Trading

Open

353.00

High

360.00

Low

325.00

Prev Close

353.00

Volume

3,811

Turnover

Rs 1,339,643.9

Txns

51

Valuation · Q4 FY25/26

EPS Ann.

-6.40

EPS TTM

-6.40

BVPS

61.47

P/E Ann.

-56.23

P/E TTM

-56.23

Graham #

N/A

Capital

Mkt Cap

1.77 Arab

Total

49.25 Lakh

Public

7.39 Lakh

Promoter

41.86 Lakh

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Strong Buy

RSI

Sell

SuperTrend

Strong Sell

Trend Analysis

Direction

Downtrend

Strength

Strong

Momentum

RSI (14)

68.44

ADX

25.99

Overall Score

58
Below Line

Technical Score

Moving Averages

SMA 20

345.15

SMA 50

361.79

Bands & Channels

BB Width %

14.09%

Volume & Flow

OBV

1,206,792

Flow Analysis

[ Live 2026-09-24 ]

Total Buy

18,051

Shares Bought

Total Sell

18,051

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

48

Participating

ACCUM/DIST

Accumulation 41%

Distribution 59%

Accumulators

3

Quantity

6,942

Amount

2,459,395

Avg Rate

354.28

Rank

#101

Brokers

#42#32#58

Distributors

3

Quantity

10,106

Amount

3,580,489

Avg Rate

354.29

Rank

#96

Brokers

#19#59#67

Net Flow Impact:

-3,164units
(Rs. -1,121,094)

Net Flow by Timeframe

TSHL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 29,381 ]

Buy Side

Total: 15,035

Broker

QTY

AVG

NET

%

42

3,059

353.90

+2,759

16.9%

58

1,943

355.46

+1,311

10.8%

32

1,940

353.70

+1,840

10.8%

34

1,542

358.05

+982

8.5%

41

1,377

355.68

+1,277

7.6%

17

1,067

360.01

+435

5.9%

60

950

349.68

+940

5.3%

53

530

357.40

+530

2.9%

39

520

347.28

+20

2.9%

48

490

354.43

+460

2.7%

57

425

349.12

+354

2.4%

14

410

361.10

+320

2.3%

28

300

357.00

+180

1.7%

4

270

353.89

+180

1.5%

49

212

353.90

+32

1.2%

Sell Side

Total: 14,346

Broker

QTY

AVG

NET

%

19

8,316

355.67

-7,441

46.1%

52

1,025

361.04

-605

5.7%

59

1,010

347.29

-940

5.6%

67

780

348.68

-780

4.3%

45

545

356.68

-245

3.0%

36

457

357.39

-347

2.5%

1

405

351.44

-105

2.2%

38

330

353.01

-330

1.8%

62

280

350.00

-90

1.6%

3

253

351.80

-253

1.4%

44

250

348.80

-250

1.4%

51

210

356.49

-210

1.2%

69

210

361.20

-210

1.2%

11

200

352.00

-200

1.1%

13

75

357.11

-65

0.4%

Financial Fundamentals

Financial MetricFY25/26 Q4FY24/25 Q4FY23/24 Q4FY22/23 Q4Growth %
Sources of Fund
Equity
Paid up Capital492,500492,500492,50000.00%
Reserves and Surplus-189,747-155,298-153,8430-22.18%
Other Equity0.000.000.000-
Total Equity302,753337,202338,6570-10.22%
Non Current Liabilities
Financial Liabilities865,503912,485942,6460-5.15%
Other Non Current Liabilities0.000.000.000-
Total Non Current Liabilities865,503912,485942,6460-5.15%
Application of Fund
Non Current Assets
Property Plant and Equipment (Net)1,350,9002,0072,9330+67201.05%
Capital Work In Progress0.000.000.000-
Intangible Assets0.001322527.791361420.610-100.00%
Financial Assets (Investments)0.000.000.000-
Other Non Current Assets0.000.000.000-
Total Non Current Assets1,350,9001,324,5351,364,3530+1.99%
Current Assets
Receivables37,93959,34720,3850-36.07%
Inventories0.000.000.000-
Cash and Cash Equivalent88.401104.0944.020-91.99%
Financial Assets25,291000-
Other Current Assets0.000.000.000-
Total Current Assets (A)63,31860,45120,4290+4.74%
Current Liabilities
Financial Liabilities865,503912,485942,6460-5.15%
Payables215,962135,299103,4800+59.62%
Other Current Liabilities0.000.000.000-
Total Current Liabilities (B)245,962135,299103,4800+81.79%
Net Current Assets (A-B)-182,644-74,847-83,0510-144.02%

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q4

NPR/Millions

Statement

Highlight

TICKERMarket
Key Ratios
PriceChgChg%Mkt Cap (M)Asset TurnoverBook Value Per ShareCurrent RatioDebt to EquityEPS (Annualized)EPS (TTM)Interest CoverageNet Profit MarginP/BP/E (Annualized)P/E (TTM)P/SQuick RatioROA (Annualized)ROA (TTM)%ROCEROE (Annualized)ROE (TTM)%

AHL

402.7+10.7+2.73%00.0668.430.284.81-17.41-17.41--72.656.05-23.78-22.6917.280.28-4.43-4.43%0.3-22.42-22.42%

AHPC

266.9+0.69+0.26%0.010.06109.7147.90.073.413.418.4948.032.3976.8679.0336.9247.92.912.91%5.93.153.15%

AKJCL

35800%0.010.0993.693.150.373.183.1845.6128.353.6105.97112.8930.063.122.452.45%7.63.453.45%

AKPL

253+1.41+0.56%0.010.06101.770.70.851.021.0279.0712.992.45244.12253.8231.640.70.750.75%3.931.341.34%

APHL

671+9.72+1.47%00.04102.410.512.26-4.12---28.498-198.79-56.640.48-1.23--0.11-4.02-

API

334.8+0.8+0.24%0.020.12119.510.411.0515.0615.0638.454.372.6821.2922.3111.580.416.486.48%11.2513.3613.36%

APPOLO

----------------------

BARUN

326-2.99-0.91%00.09108.196.740.232.082.0840.7221.392.96153.8161.0632.886.741.911.91%5.632.542.54%

BEDC

308.9+1.9+0.62%00.0746.284.952.24-1.7-1.7218.78-14.776.66-181.18-182.9426.834.95-1.1-1.1%6.83-3.59-3.59%

BENI

----------------------

BGWT

492+4.92+1.01%00.16113.36.450.289.019.0110.8339.644.8260.653.3924.036.456.536.53%11.288.228.22%

BHCL

574.8+15.82+2.83%0.010.15112.532.140.1610.8110.8115.9651.47441.6350.3221.432.147.517.51%13.610.0810.08%

BHDC

433.4+2.41+0.56%0.010.15118.322.691.2811.7911.7949.4330.693.5835.8836.9411.012.694.64.6%12.410.5910.59%

BHL

212.2+0.19+0.09%0.010.1381.221.81.967.727.7262.3524.482.5126.4228.156.471.723.233.23%12.259.919.91%

BHPL

447.5-0.49-0.11%00.0850.031.141.86-0.3-0.3133.02-2.639.16-1,527.67-1,566.6740.591.04-0.2-0.2%8.83-0.57-0.57%

BJHL

643+8.88+1.4%0.010.0988.952.571.05-2.6-233.82-15.287.66-261.92-40.042.57-1.42-6.85-2.92-

BNHC

278.5+1.91+0.69%00.13100.597.620.971.491.49111.026.462.76186.58188.8612.027.620.80.8%9.682.142.14%

BPCL

676+1.08+0.16%0.020.1210.877.050.099.849.843.1941.843.1767.8970.9328.416.524.184.18%5.364.694.69%

BUNGAL

514+3.01+0.59%00.0981.420.213.4-3.84---11.287.18-152.34-17.190.21-1.07-4.34-4.71-

CHCL

352-2.52-0.71%0.030.1123.925.950.047.597.59-61.663.8362.648.7138.5924.625.985.98%7.156.26.2%

CHL

267+1.99+0.75%00.1384.292.081.031.721.7292.027.563.04148.84155.8111.252.0311%9.263.123.12%

CKHL

582.4-4.58-0.78%00.11100.190.831.9613.2513.2577.740.336.3748.1544.9819.420.834.444.44%9.7313.8513.85%

DHEL

554-1-0.18%0.010.04118.140.451.37-9.88---89.334.57-54.67-48.830.45-3.52-2.24-8.36-

DHPL

275+1.99+0.73%00.148.380.2333.095.515.5184.5313.9332.8249.9150.736.950.231.891.89%14.8493.6393.63%

DOLTI

299-4.99-1.64%00.159.871.112.20.870.87125.134.655.31365.4355.1717.081.110.450.45%9.331.481.48%

DORDI

263+1+0.38%0.010.07106.31.830.911.421.4257.1510.912.32173.94185.1418.971.810.760.76%5.941.351.35%

EHPL

326.8+0.81+0.25%00.1376.32.471.283.393.3969.8214.324.396.8498.8213.862.471.931.93%11.584.544.54%

GHL

253.7-3.29-1.28%00.0695.054.740.45-1.33-1.33154.32-15.982.26-161.65-182.9325.94.74-0.94-0.94%3.92-1.38-1.38%

GLH

278.8-0.39-0.14%0.010.1112.050.034.812.332.330.323.682.17104.29117.383.840.030.370.37%0.392.092.09%

GVL

489.3-0.69-0.14%0.020.14124.331.41.5212.9412.9482.629.873.8637.0938.2511.091.244.074.07%8.2910.9410.94%
AVG397.631.730.34%0.010.1974.912.562.974.3278.0110.585.374-16.218.22823.64.831.732.32%7.455.677.45%
MED343.40.910.26%00.1101.181.961.172.213.2969.8213.463.84549.0352.0620.4251.921.441.92%7.382.833.3%
MAX67615.822.83%0.030.16210.8747.933.0915.0615.06233.8261.6632.82365.4355.1756.6447.97.517.51%14.8493.6393.63%
MIN212.2-4.99-1.64%00.048.380.030.04-17.41-17.410.32-89.332.17-1,527.67-1,566.673.840.03-4.43-4.43%-0.11-22.42-22.42%

30

securities loaded

Best in class

Laggard

AVG

Average

MED

Median

MAX

Maximum

MIN

Minimum