Three Star Hydropower Limited

HydroPowerLow Cap

NPR 338.00

NPR +1+0.30%

09:14 AM NPT · Nov 6, 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

332.50

High

338.90

Low

332.50

Prev Close

337.00

Volume

1,043

Turnover

Rs 351,159

Txns

0

Valuation · Q4 FY25/26

EPS Ann.

-6.40

EPS TTM

-6.40

BVPS

61.47

P/E Ann.

-52.81

P/E TTM

-52.81

Graham #

N/A

Capital

Mkt Cap

1.66 Arab

Total

49.25 Lakh

Public

49.25 Lakh

Promoter

0.0

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Buy

RSI

Neutral

SuperTrend

Strong Sell

Trend Analysis

Direction

Downtrend

Strength

Very Strong

Momentum

RSI (14)

46.95

ADX

43.9

Overall Score

54
Below Line

Technical Score

Moving Averages

SMA 20

337.06

SMA 50

343.61

Bands & Channels

BB Width %

4.17%

Volume & Flow

OBV

1,189,260

Flow Analysis

[ Live 2026-11-06 ]

Total Buy

10,833

Shares Bought

Total Sell

10,833

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

50

Participating

ACCUM/DIST

Accumulation 38%

Distribution 62%

Accumulators

3

Quantity

3,397

Amount

1,136,585

Avg Rate

334.58

Rank

#109

Brokers

#93#58#57

Distributors

3

Quantity

5,539

Amount

1,849,231

Avg Rate

333.86

Rank

#106

Brokers

#19#42#4

Net Flow Impact:

-2,142units
(Rs. -712,646)

Net Flow by Timeframe

TSHL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 17,783 ]

Buy Side

Total: 8,143

Broker

QTY

AVG

NET

%

58

1,217

334.38

+969

11.2%

57

1,160

333.57

+940

10.7%

93

1,020

335.98

+1,020

9.4%

50

620

335.94

+490

5.7%

17

600

334.42

+600

5.5%

38

548

330.38

+418

5.1%

21

500

336.00

+490

4.6%

14

488

332.95

+443

4.5%

46

460

335.61

+460

4.3%

47

370

336.46

+360

3.4%

22

350

335.57

+250

3.2%

13

260

335.23

+260

2.4%

43

200

335.00

+200

1.9%

66

200

330.00

+200

1.9%

41

150

330.47

+130

1.4%

Sell Side

Total: 9,640

Broker

QTY

AVG

NET

%

19

3,100

332.34

-3,100

28.6%

42

1,799

335.27

-1,402

16.6%

48

820

334.41

-583

7.6%

34

686

335.90

-127

6.3%

4

640

337.22

-640

5.9%

26

620

334.59

-515

5.7%

76

495

336.00

-495

4.6%

74

310

335.00

-261

2.9%

45

271

333.41

-117

2.5%

8

270

338.00

-270

2.5%

7

243

335.00

-243

2.2%

49

220

331.91

-144

2.0%

5

100

333.30

-100

0.9%

62

50

336.00

-40

0.5%

56

16

333.60

-16

0.1%

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

380+3.99+1.06%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

257.8+1.1+0.43%0.010.06109.7147.90.073.413.418.4948.032.3976.8679.0336.9247.92.912.91%5.93.153.15%

AKJCL

343.9-2.11-0.61%0.010.0993.693.150.373.183.1845.6128.353.6105.97112.8930.063.122.452.45%7.63.453.45%

AKPL

256.2-2.69-1.04%0.010.06101.770.70.851.021.0279.0712.992.45244.12253.8231.640.70.750.75%3.931.341.34%

APHL

564.9+6.92+1.24%00.04102.410.512.26-4.12---28.498-198.79-56.640.48-1.23--0.11-4.02-

API

333.7+0.7+0.21%0.020.12119.510.411.0515.0615.0638.454.372.6821.2922.3111.580.416.486.48%11.2513.3613.36%

APPOLO

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

BARUN

322.2-1.81-0.56%00.09108.196.740.232.082.0840.7221.392.96153.8161.0632.886.741.911.91%5.632.542.54%

BEDC

295-2.5-0.84%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

503-4.01-0.79%00.16113.36.450.289.019.0110.8339.644.8260.653.3924.036.456.536.53%11.288.228.22%

BHCL

54600%0.010.15112.532.140.1610.8110.8115.9651.47441.6350.3221.432.147.517.51%13.610.0810.08%

BHDC

431.8+1.81+0.42%0.010.15118.322.691.2811.7911.7949.4330.693.5835.8836.9411.012.694.64.6%12.410.5910.59%

BHL

225-0.5-0.22%0.010.1381.221.81.967.727.7262.3524.482.5126.4228.156.471.723.233.23%12.259.919.91%

BHPL

429+8.21+1.95%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

545-8.97-1.62%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

274+2.01+0.74%00.13100.597.620.971.491.49111.026.462.76186.58188.8612.027.620.80.8%9.682.142.14%

BPCL

694-12-1.7%0.020.1210.877.050.099.849.843.1941.843.1767.8970.9328.416.524.184.18%5.364.694.69%

BUNGAL

458.1-2.9-0.63%00.0981.420.213.4-3.84---11.287.18-152.34-17.190.21-1.07-4.34-4.71-

CHCL

338+0.2+0.06%0.030.1123.925.950.047.597.59-61.663.8362.648.7138.5924.625.985.98%7.156.26.2%

CHL

257-2.91-1.12%00.1384.292.081.031.721.7292.027.563.04148.84155.8111.252.0311%9.263.123.12%

CKHL

438+13.5+3.18%00.11100.190.831.9613.2513.2577.740.336.3748.1544.9819.420.834.444.44%9.7313.8513.85%

DHEL

508+2.02+0.4%0.010.04118.140.451.37-9.88---89.334.57-54.67-48.830.45-3.52-2.24-8.36-

DHPL

269-4.01-1.47%00.148.380.2333.095.515.5184.5313.9332.8249.9150.736.950.231.891.89%14.8493.6393.63%

DOLTI

308.9-1.08-0.35%00.159.871.112.20.870.87125.134.655.31365.4355.1717.081.110.450.45%9.331.481.48%

DORDI

273.8+1.8+0.66%0.010.07106.31.830.911.421.4257.1510.912.32173.94185.1418.971.810.760.76%5.941.351.35%

EHPL

32500%00.1376.32.471.283.393.3969.8214.324.396.8498.8213.862.471.931.93%11.584.544.54%

GHL

323-1-0.31%0.010.0695.054.740.45-1.33-1.33154.32-15.982.26-161.65-182.9325.94.74-0.94-0.94%3.92-1.38-1.38%

GLH

263+1.7+0.65%00.1112.050.034.812.332.330.323.682.17104.29117.383.840.030.370.37%0.392.092.09%

GVL

559+3+0.54%0.020.14124.331.41.5212.9412.9482.629.873.8637.0938.2511.091.244.074.07%8.2910.9410.94%
AVG382.940.020.01%0.010.1974.912.562.974.3278.0110.585.374-16.218.22823.64.831.732.32%7.455.677.45%
MED335.8500%00.1101.181.961.172.213.2969.8213.463.84549.0352.0620.4251.921.441.92%7.382.833.3%
MAX69413.53.18%0.030.16210.8747.933.0915.0615.06233.8261.6632.82365.4355.1756.6447.97.517.51%14.8493.6393.63%
MIN225-12-1.7%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