Three Star Hydropower Limited

HydroPowerLow Cap

NPR 605.00

NPR -3-0.49%

09:14 AM NPT · May 13, 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

590.00

High

605.00

Low

590.00

Prev Close

608.00

Volume

755

Turnover

Rs 448,595

Txns

20

Valuation · Q2 FY25/26

EPS Ann.

-4.60

EPS TTM

-3.62

BVPS

65.57

P/E Ann.

-131.52

P/E TTM

-167.13

Graham #

N/A

Capital

Mkt Cap

2.98 Arab

Total

49.25 Lakh

Public

7.39 Lakh

Promoter

41.86 Lakh

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Buy

RSI

Strong Buy

SuperTrend

Strong Sell

Trend Analysis

Direction

Uptrend

Strength

Strong

Momentum

RSI (14)

23.81

ADX

29.72

Overall Score

16
Below Line

Technical Score

Moving Averages

SMA 20

633.12

SMA 50

696.59

Bands & Channels

BB Width %

15.89%

Volume & Flow

OBV

1,341,061

Flow Analysis

[ Live 2026-05-13 ]

Total Buy

6,902

Shares Bought

Total Sell

6,902

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

55

Participating

ACCUM/DIST

Accumulation 38%

Distribution 62%

Accumulators

3

Quantity

2,000

Amount

1,205,050

Avg Rate

602.52

Rank

#94

Brokers

#11#19#42

Distributors

3

Quantity

3,246

Amount

1,952,719

Avg Rate

601.58

Rank

#91

Brokers

#38#57#46

Net Flow Impact:

-1,246units
(Rs. -747,669)

Net Flow by Timeframe

TSHL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 10,422 ]

Buy Side

Total: 5,813

Broker

QTY

AVG

NET

%

58

1,433

602.65

+282

20.8%

11

820

599.76

+820

11.9%

19

619

602.08

+599

9.0%

42

561

607.07

+481

8.1%

49

425

596.16

+245

6.2%

35

410

612.12

+389

5.9%

22

400

606.62

+390

5.8%

13

200

595.00

+22

2.9%

36

180

598.58

+129

2.6%

44

180

598.32

+170

2.6%

41

170

609.88

+10

2.5%

7

130

606.85

+90

1.9%

33

100

596.10

+90

1.4%

43

100

590.20

+100

1.4%

3

85

595.00

+3

1.2%

Sell Side

Total: 4,609

Broker

QTY

AVG

NET

%

38

2,263

598.08

-2,213

32.8%

57

563

605.38

-493

8.2%

34

466

599.29

-416

6.8%

46

420

615.31

-420

6.1%

4

210

599.38

-30

3.0%

45

160

595.91

-36

2.3%

53

160

612.00

-160

2.3%

40

125

595.03

-125

1.8%

6

62

614.90

-12

0.9%

54

60

598.50

-60

0.9%

52

50

608.00

-50

0.7%

25

20

610.00

-20

0.3%

39

20

606.00

-20

0.3%

66

20

602.50

-20

0.3%

1

10

612.00

-10

0.1%

Financial Fundamentals

No data available for BS

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q2

NPR/Millions

Statement

Highlight

TICKERMarket
Key Ratios
PriceChgChg%Mkt Cap (M)Asset TurnoverBVPSC/D Ratio%EPS (Annu.)EPS (TTM)Graham's No.Int. Rate Spread%NIM%NPL%NPM%P/BP/E (Annu.)PEGP/E (Latest)P/E (TTM)P/SROA (Annu.)%ROA (TTM)%ROE (Annu.)%ROE (TTM)%

AHL

566+58.01+11.42%00.0877.34--17-13.71--0%--55.62%13.97-31.780-31.79-39.4270.72-4.44%-3.59%-20.06%-16.18%

AHPC

279-1.01-0.36%0.010.07115.64-5.29.2154.72-0%-57.82%4.4449.42053.0629.99114.224.26%7.54%4.68%8.31%

AKJCL

355+5+1.43%0.010.192.82-4.633.4384.64-0%-34.41%4.3543.610.5580.56108.7560.093.54%2.63%5.08%3.76%

AKPL

269-2.01-0.74%0.010.11103.69-7.936.82126.14-0%-40.28%4.7831.270.2133.4238.8650.414.5%3.88%7.9%6.8%

API

343.8-1.21-0.35%0.020.14117.58-14.038.92153.62-0%-44.43%4.9220.630.5721.0333.0736.666.04%3.84%12.36%7.87%

APPOLO

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

BARUN

344.9+1.89+0.55%00.1113.42-4.051.3658.91-0%-34.64%5.6679.26085.48254.56109.933.5%1.18%4.7%1.58%

BEDC

360.2-8.29-2.25%00.148.52-1.08-3.86--0%-7.21%21.85490.743.25483.33-135.23141.330.68%-2.46%2.14%-7.63%

BENI

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

BGWT

669+15.49+2.37%00.2108.91-9.2212.28173.47-0%-38.32%14.2384.060.8882.4361.89128.957.5%9.99%8.9%11.87%

BHCL

508.9-7.12-1.38%00.13103.77-7.81---0%-42.7%15.4251.22051.950350.115.72%-7.52%-

BHDC

463.2-2.8-0.6%0.010.19123-19.838.09149.63-0%-40.35%7.7123.90.8524.159.0938.577.6%3.1%16.9%6.89%

BHL

222.5+0.51+0.23%0.010.1480.85-12.480.4327.97-0%-35.8%4.4414.3800020.65.12%0.17%17%0.58%

BHPL

522+0.99+0.19%00.1151.12-1.86-2.32--0%-11.28%21.51295.650296.72-237.89133.151.24%-1.55%3.54%-4.41%

BNHC

325-1.5-0.46%00.1583.58-10.24-2.09--0%-19.49%10.7944.020.1636.46-178.6134.332.98%-0.61%12.18%-2.49%

BPCL

663.1-4.88-0.73%0.020.12208.4-13.227.56188.28-0%-48.56%7.5359.383.3153.7894.05115.365.64%3.22%6.36%3.63%

BUNGAL

582-0.99-0.17%00.1288.61-6.68---0%-14.97%14.696.860.8497.01057.971.82%-7.54%-

CHCL

476-0.19-0.04%0.050.11120.86-8.397.32141.09-0%-62.53%7.8456.5055.6563.78141.286.62%5.78%7.02%6.13%

CHL

290-2.99-1.02%00.1685.59-6.03-1.03--0%-21.48%6.1943.930.2846.52-272.3337.793.46%-0.59%10.44%-1.78%

CKHL

647-13-1.97%00.1495.71-17.544.4898.22-0%-42.5%13.7937.630.239.89156.1863.985.76%1.47%18.2%4.65%

DHEL

595-2.03-0.34%0.010.03131.27--1.65---0%--19.49%9.99-397.580-436.360309.43-0.56%--1.24%-

DHPL

293.6-5.29-1.77%00.316.62-7.513.7523.63-0%-17.08%86.137.950.5840.4781.0425.925.22%2.61%226.64%113.2%

DOLTI

350.5-1.51-0.43%00.1259.55-3.25-3.73--0%-14.07%17.06156.310.02156.31-136.1987.891.64%-1.89%5.28%-6.07%

DORDI

272-0.6-0.22%0.010.08105.22-0.69-2.62--0%-5.28%5.32405.82.74397.1-104.5885.760.42%-1.65%0.92%-3.53%

EHPL

377-3.31-0.87%00.1677.86-9.913.3977.06-0%-34.15%10.4841.160.741.68121.8356.265.48%1.87%12.98%4.44%

GHL

236-0.9-0.38%00.0695.65--2.06-2.95--0%--24.4%4.39-101.990-116.5-81.3699.34-1.4%-2.01%-2.12%-3.04%

GLH

268.7+2.4+0.9%00.11110.33-2.43.3390.92-0%-4.04%8.85101.670.39110.5879.765.680.4%0.59%2.52%3.52%

GVL

487.2-2.79-0.57%0.020.18124.97-27.1614.03198.62-0%-46.09%7.9718.331.3317.8634.5733.798.4%4.34%22.9%11.83%

HDHPC

221-1.69-0.76%0.010.0675.21--4.32-2.3--0%--86.91%4.68-40.740-45.16-84.83141.37-5.22%-2.79%-5.7%-3.04%

HHL

373.2-3.81-1.01%00.1683.35-10.786.73112.34-0%-31.55%7.830.154.2931.1749.9338.035.16%3.22%13.44%8.39%
AVG405.740.580.02%0.010.12696.05-6.672.66116.2-0%-20.09%12.38162.2050.75560.955-0.11294.6043.25%1.53%14.57%6.21%
MED357.6-1.51-0.41%00.1295.68-7.13.39119.24-0%-32.85%7.90543.770.24544.131.5368.23.9%1.47%7.27%3.63%
MAX66958.0111.42%0.050.31208.4-27.1614.03198.62-0%-62.53%86.1490.744.29483.33254.56350.118.4%9.99%226.64%113.2%
MIN221-13-2.25%00.036.62--17-13.7123.63-0%--86.91%4.35-397.580-436.36-272.3320.6-5.22%-3.59%-20.06%-16.18%

30

securities loaded

Best in class

Laggard

AVG

Average

MED

Median

MAX

Maximum

MIN

Minimum