Trishuli Jal Vidhyut Company Limited

HydroPowerMid Cap

NPR 305.00

NPR +9+3.04%

09:14 AM NPT · Sep 24, 2026

Est. 2068-01-28 B.S. (incorporated as a joint venture of NEA and Nepal Doorsanchar Company Limited) · Sundhara (NEA Complex), Kathmandu, Nepal · CEO: Mohan Gautam

Trishuli Jal Vidhyut Company Limited is a Nepali hydropower company established in 2068 B.S. (May 11, 2011) under the Companies Act. The company was created with the aim of harnessing Nepal’s hydroelectric potential, and it is a joint-venture involving the Nepal Electricity Authority (NEA) and Nepal Doorsanchar Company Limited (NDCL). Its cornerstone undertaking is the Upper Trishuli 3B Hydroelectric Project a 37 MW run-of-river cascade project spanning parts of Nuwakot and Rasuwa districts in Bagmati Province. This project was designed to capitalize on tail-race water from upstream plants and aims to contribute to Nepal’s growing electricity supply, helping address existing power demand and shortage. Financially and on the stock market front, TVCL went public recently its shares (symbol “TVCL”) are listed on the Nepal Stock Exchange (NEPSE). As of the latest data, the company has 18,525,000 outstanding shares, with a total paid-up capital of NPR 1,852,500,000. The market has reacted: share price volatility has been seen the 52-week high was NPR 697 and low NPR 386. TVCL uses a typical hydropower financing model: the capital structure for its project is a 70:30 debt-to-equity ratio, with debt led by a consortium of banks (including Nabil Bank Limited and Hydroelectric Investment & Development Company Limited – HIDCL), and equity contributed by NEA, NDCL, local levels of Nuwakot & Rasuwa, local residents, and the general public. As of recent reports (late 2025), TVCL has published its quarterly and annual financial statements. However like many hydropower-listed firms in Nepal the company’s performance and risk remain closely tied to hydrology (water-flow variability, seasonality), timely project execution, and fulfillment of long-term Power Purchase Agreements (PPAs), which can affect revenue stability.

Trading

Open

297.00

High

307.90

Low

282.30

Prev Close

296.00

Volume

15,246

Turnover

Rs 4,529,515.9

Txns

93

Valuation · Q4 FY25/26

EPS Ann.

-7.36

EPS TTM

-7.36

BVPS

76.12

P/E Ann.

-41.44

P/E TTM

-41.44

Graham #

N/A

Capital

Mkt Cap

5.46 Arab

Total

1.79 Crore

Public

26.84 Lakh

Promoter

1.52 Crore

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Strong Buy

RSI

Buy

SuperTrend

Strong Sell

Trend Analysis

Direction

Downtrend

Strength

Very Strong

Momentum

RSI (14)

36.95

ADX

56.42

Overall Score

33
Below Line

Technical Score

Moving Averages

SMA 20

331.34

SMA 50

418.48

Bands & Channels

BB Width %

58.41%

Volume & Flow

OBV

892,740

Flow Analysis

[ Live 2026-09-24 ]

Total Buy

46,458

Shares Bought

Total Sell

46,458

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

61

Participating

ACCUM/DIST

Accumulation 36%

Distribution 64%

Accumulators

3

Quantity

15,554

Amount

4,678,948

Avg Rate

300.82

Rank

#85

Brokers

#81#42#53

Distributors

3

Quantity

27,071

Amount

8,076,727

Avg Rate

298.35

Rank

#72

Brokers

#14#44#74

Net Flow Impact:

-11,517units
(Rs. -3,397,779)

Net Flow by Timeframe

TVCL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 72,901 ]

Buy Side

Total: 34,668

Broker

QTY

AVG

NET

%

42

6,044

298.54

+4,694

13.0%

81

6,000

303.33

+6,000

12.9%

58

4,233

300.97

+2,218

9.1%

53

3,510

300.46

+3,510

7.6%

99

3,097

302.95

+3,097

6.7%

91

2,192

305.03

+172

4.7%

92

2,000

306.87

+2,000

4.3%

34

1,656

301.72

+749

3.6%

26

1,263

292.86

+1,233

2.7%

19

1,029

289.14

+1,029

2.2%

25

1,027

298.14

+654

2.2%

62

790

306.83

+790

1.7%

45

700

288.11

+300

1.5%

29

607

293.03

+517

1.3%

83

520

288.75

+520

1.1%

Sell Side

Total: 38,233

Broker

QTY

AVG

NET

%

14

12,350

293.40

-12,010

26.6%

74

8,304

302.59

-4,894

17.9%

44

6,417

302.40

-6,417

13.8%

38

3,000

290.08

-2,250

6.5%

49

2,789

305.59

-1,126

6.0%

32

2,036

306.27

-26

4.4%

96

800

306.00

-800

1.7%

28

626

306.98

-626

1.4%

33

471

305.13

-371

1.0%

46

340

300.13

-189

0.7%

101

300

295.00

-300

0.7%

17

270

298.14

-240

0.6%

39

230

300.70

-230

0.5%

22

160

297.44

-30

0.3%

13

140

296.39

-40

0.3%

Financial Fundamentals

Financial MetricFY25/26 Q4FY24/25 Q4FY23/24 Q4FY22/23 Q4Growth %
Sources of Fund
Equity
Paid up Capital1,789,1631,789,1631,789,16300.00%
Reserves and Surplus-427,286-296,875-626,9160-43.93%
Other Equity0.000.000.000-
Total Equity1,361,8771,492,2881,162,2470-8.74%
Non Current Liabilities
Financial Liabilities4,698,3073,780,8703,715,3890+24.27%
Other Non Current Liabilities228,756183,172163,6600+24.89%
Total Non Current Liabilities4,927,0623,964,0423,879,0490+24.29%
Application of Fund
Non Current Assets
Property Plant and Equipment (Net)146,744152,338158,5060-3.67%
Capital Work In Progress7,175,3746,075,7454,984,0670+18.10%
Intangible Assets0.00178.400.000-100.00%
Financial Assets (Investments)0.000.000.000-
Other Non Current Assets9,2149,1846,8610+0.33%
Total Non Current Assets7,331,3326,237,4455,149,4340+17.54%
Current Assets
Receivables249.00299.000.000-16.72%
Inventories55.3470.0851.890-21.03%
Cash and Cash Equivalent41,53658,6231,091,9840-29.15%
Financial Assets0.000.000.000-
Other Current Assets982,745617,7946,6380+59.07%
Total Current Assets (A)1,024,586676,7861,098,6740+51.39%
Current Liabilities
Financial Liabilities4,698,3073,780,8703,715,3890+24.27%
Payables1,525,8261,407,901996,8120+8.38%
Other Current Liabilities0.000.000.000-
Total Current Liabilities (B)2,066,9781,457,9011,206,8120+41.78%
Net Current Assets (A-B)-1,042,392-781,115-108,1380-33.45%

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q4

NPR/Millions

Statement

Highlight

TICKERMarket
Key Ratios
PriceChgChg%Mkt Cap (M)Book Value Per ShareCurrent RatioDebt to EquityEPS (Annualized)EPS (TTM)P/BP/E (Annualized)P/E (TTM)Quick RatioROA (Annualized)ROA (TTM)%ROCEROE (Annualized)ROE (TTM)%

AHL

402.7+10.7+2.73%068.430.284.81-17.41-17.416.05-23.78-22.690.28-4.43-4.43%0.3-22.42-22.42%

AHPC

266.9+0.69+0.26%0.01109.7147.90.073.413.412.3976.8679.0347.92.912.91%5.93.153.15%

AKJCL

35800%0.0193.693.150.373.183.183.6105.97112.893.122.452.45%7.63.453.45%

AKPL

253+1.41+0.56%0.01101.770.70.851.021.022.45244.12253.820.70.750.75%3.931.341.34%

APHL

671+9.72+1.47%0102.410.512.26-4.12-8-198.79-0.48-1.23--0.11-4.02-

API

334.8+0.8+0.24%0.02119.510.411.0515.0615.062.6821.2922.310.416.486.48%11.2513.3613.36%

APPOLO

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

BARUN

326-2.99-0.91%0108.196.740.232.082.082.96153.8161.066.741.911.91%5.632.542.54%

BEDC

308.9+1.9+0.62%046.284.952.24-1.7-1.76.66-181.18-182.944.95-1.1-1.1%6.83-3.59-3.59%

BENI

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

BGWT

492+4.92+1.01%0113.36.450.289.019.014.8260.653.396.456.536.53%11.288.228.22%

BHCL

574.8+15.82+2.83%0.01112.532.140.1610.8110.81441.6350.322.147.517.51%13.610.0810.08%

BHDC

433.4+2.41+0.56%0.01118.322.691.2811.7911.793.5835.8836.942.694.64.6%12.410.5910.59%

BHL

212.2+0.19+0.09%0.0181.221.81.967.727.722.5126.4228.151.723.233.23%12.259.919.91%

BHPL

447.5-0.49-0.11%050.031.141.86-0.3-0.39.16-1,527.67-1,566.671.04-0.2-0.2%8.83-0.57-0.57%

BJHL

643+8.88+1.4%0.0188.952.571.05-2.6-7.66-261.92-2.57-1.42-6.85-2.92-

BNHC

278.5+1.91+0.69%0100.597.620.971.491.492.76186.58188.867.620.80.8%9.682.142.14%

BPCL

676+1.08+0.16%0.02210.877.050.099.849.843.1767.8970.936.524.184.18%5.364.694.69%

BUNGAL

514+3.01+0.59%081.420.213.4-3.84-7.18-152.34-0.21-1.07-4.34-4.71-

CHCL

352-2.52-0.71%0.03123.925.950.047.597.593.8362.648.7124.625.985.98%7.156.26.2%

CHL

267+1.99+0.75%084.292.081.031.721.723.04148.84155.812.0311%9.263.123.12%

CKHL

582.4-4.58-0.78%0100.190.831.9613.2513.256.3748.1544.980.834.444.44%9.7313.8513.85%

DHEL

554-1-0.18%0.01118.140.451.37-9.88-4.57-54.67-0.45-3.52-2.24-8.36-

DHPL

275+1.99+0.73%08.380.2333.095.515.5132.8249.9150.730.231.891.89%14.8493.6393.63%

DOLTI

299-4.99-1.64%059.871.112.20.870.875.31365.4355.171.110.450.45%9.331.481.48%

DORDI

263+1+0.38%0.01106.31.830.911.421.422.32173.94185.141.810.760.76%5.941.351.35%

EHPL

326.8+0.81+0.25%076.32.471.283.393.394.396.8498.822.471.931.93%11.584.544.54%

GHL

253.7-3.29-1.28%095.054.740.45-1.33-1.332.26-161.65-182.934.74-0.94-0.94%3.92-1.38-1.38%

GLH

278.8-0.39-0.14%0.01112.050.034.812.332.332.17104.29117.380.030.370.37%0.392.092.09%

GVL

489.3-0.69-0.14%0.02124.331.41.5212.9412.943.8637.0938.251.244.074.07%8.2910.9410.94%
AVG397.631.730.34%0.01974.912.562.974.325.374-16.218.2284.831.732.32%7.455.677.45%
MED343.40.910.26%0101.181.961.172.213.293.84549.0352.061.921.441.92%7.382.833.3%
MAX67615.822.83%0.03210.8747.933.0915.0615.0632.82365.4355.1747.97.517.51%14.8493.6393.63%
MIN212.2-4.99-1.64%08.380.030.04-17.41-17.412.17-1,527.67-1,566.670.03-4.43-4.43%-0.11-22.42-22.42%

30

securities loaded

Best in class

Laggard

AVG

Average

MED

Median

MAX

Maximum

MIN

Minimum