Trishuli Jal Vidhyut Company Limited

HydroPowerHigh Cap

NPR 493.90

NPR +7.5+1.54%

09:14 AM NPT · Jun 26, 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

510.70

High

510.70

Low

485.00

Prev Close

486.40

Volume

6,299

Turnover

Rs 3,061,976.3

Txns

0

Valuation · Q3 FY25/26

EPS Ann.

-7.01

EPS TTM

-5.97

BVPS

78.22

P/E Ann.

-70.46

P/E TTM

-82.73

Graham #

N/A

Capital

Mkt Cap

8.84 Arab

Total

1.79 Crore

Public

26.84 Lakh

Promoter

1.52 Crore

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Buy

RSI

Neutral

SuperTrend

Strong Sell

Trend Analysis

Direction

Uptrend

Strength

Moderate

Momentum

RSI (14)

49.95

ADX

22.06

Overall Score

40
Below Line

Technical Score

Moving Averages

SMA 20

496.94

SMA 50

518.72

Bands & Channels

BB Width %

7.76%

Volume & Flow

OBV

1,228,839

Flow Analysis

[ Live 2026-06-26 ]

Total Buy

43,920

Shares Bought

Total Sell

43,920

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

60

Participating

ACCUM/DIST

Accumulation 61%

Distribution 39%

Accumulators

2

Quantity

33,874

Amount

16,577,461

Avg Rate

489.39

Rank

#33

Brokers

#81#17

Distributors

4

Quantity

21,262

Amount

10,392,854

Avg Rate

488.80

Rank

#47

Brokers

#14#75#65#34

Net Flow Impact:

+12,612units
(Rs. 6,184,607)

Net Flow by Timeframe

TVCL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 70,363 ]

Buy Side

Total: 41,724

Broker

QTY

AVG

NET

%

81

29,874

490.12

+17,864

68.0%

17

4,000

483.94

+3,850

9.1%

58

2,045

486.83

+1,364

4.7%

66

1,835

489.12

+1,835

4.2%

28

1,024

491.88

+1,004

2.3%

26

1,000

487.00

+950

2.3%

99

350

487.64

+310

0.8%

69

310

491.18

+310

0.7%

84

250

487.10

+250

0.6%

29

238

499.76

+208

0.5%

42

196

486.76

+106

0.5%

71

190

492.04

+160

0.4%

46

142

492.20

+142

0.3%

49

140

485.11

+111

0.3%

19

130

493.15

+130

0.3%

Sell Side

Total: 28,639

Broker

QTY

AVG

NET

%

14

14,482

489.32

-14,352

33.0%

75

3,020

482.00

-3,020

6.9%

65

2,200

491.00

-2,200

5.0%

34

1,560

493.99

-1,420

3.5%

92

1,315

489.09

-1,315

3.0%

56

1,167

486.19

-650

2.7%

32

1,020

485.91

-958

2.3%

74

720

492.72

-720

1.6%

1

700

490.30

-700

1.6%

33

530

494.40

-125

1.2%

60

500

486.18

-500

1.1%

45

485

490.37

-315

1.1%

6

320

489.84

-190

0.7%

5

310

486.87

-310

0.7%

63

310

486.00

-310

0.7%

Financial Fundamentals

Financial MetricFY25/26 Q3FY24/25 Q3FY23/24 Q3FY22/23 Q3Growth %
Sources of Fund
Equity
Paid up Capital1,789,1631,789,1631,789,16300.00%
Reserves and Surplus-389,663-284,136-508,3370-37.14%
Other Equity0.000.000.000-
Total Equity1,399,4991,505,0271,280,8260-7.01%
Non Current Liabilities
Financial Liabilities4,094,4593,696,4663,715,3890+10.77%
Other Non Current Liabilities212,910175,812163,6600+21.10%
Total Non Current Liabilities4,307,3693,872,2783,879,0490+11.24%
Application of Fund
Non Current Assets
Property Plant and Equipment (Net)146,627152,542152,1870-3.88%
Capital Work In Progress6,834,7215,795,8184,837,6550+17.93%
Intangible Assets0.000.000.000-
Financial Assets (Investments)0.000.000.000-
Other Non Current Assets9,2089,1465,3150+0.67%
Total Non Current Assets6,990,5555,957,5064,995,1570+17.34%
Current Assets
Receivables249.00299.00276.500-16.72%
Inventories105.13125.20156.340-16.03%
Cash and Cash Equivalent6,667199,0851,112,5480-96.65%
Financial Assets0.000.000.000-
Other Current Assets766,033619,1473,6800+23.72%
Total Current Assets (A)773,054818,6561,116,6610-5.57%
Current Liabilities
Financial Liabilities4,094,4593,696,4663,715,3890+10.77%
Payables1,481,7411,398,857851,9440+5.93%
Other Current Liabilities0.000.000.000-
Total Current Liabilities (B)2,056,7411,398,857951,9440+47.03%
Net Current Assets (A-B)-1,283,687-580,201164,7170-121.25%

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q3

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

468.6-1.41-0.3%071.360.244.27-19.31-13.7510.28-28.49-36.110.24-5.08-3.62%2.52-24.52-17.46%

AHPC

264.3-0.8-0.3%0.01110.7140.790.074.415.943.565.8346.6340.793.85.12%6.714.095.52%

AKJCL

362.6-4.11-1.12%0.0192.422.950.382.562.285.79156.88181.142.951.961.75%7.442.82.5%

AKPL

256.8-1.11-0.43%0.01103.420.870.854.927.233.5856.536.930.872.84.12%9.414.927.24%

APHL

875-25.02-2.78%0--------------

API

336.9+0.91+0.27%0.02115.320.261.1913.7611.484.0325.3130.310.265.894.91%13.7312.5110.44%

APPOLO

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

BARUN

325-4.01-1.22%0107.7212.050.232.012.964.58184.03114.8612.051.852.73%5.242.483.66%

BEDC

342.5-4.41-1.27%047.883.662.22-0.12-2.0112.92-3,866.67-179.63.66-0.07-1.29%7.13-0.25-4.1%

BENI

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

BGWT

598.9+18.91+3.26%0112.6713.690.2911.1611.98.9167.4755.1313.698.158.69%12.9210.3911.08%

BHCL

558.7+6.68+1.21%0.01109.645.10.2910.4311.116.7753.453.475.17.928.44%12.451313.85%

BHDC

444-3.99-0.89%0.01117.432.911.0913.229.425.5536.9749.152.915.393.84%13.4311.898.46%

BHL

210.2-0.8-0.38%0.0179.952.551.978.594.63.8526.9-2.533.641.95%13.1710.995.88%

BHPL

505.5-3-0.59%050.031.431.97-0.59-3.514.92-948.98-156.741.25-0.39-2.31%7.73-1.11-6.64%

BJHL

825-14.01-1.67%0.0188.8248.251.06-3.26-18.61-380.37-48.25-1.77-6.48-3.67-

BNHC

315.1-2.99-0.94%084.30.62.947.780.055.5845.376,6760.62.310.01%13.599.290.05%

BPCL

654.9+4.88+0.75%0.02210.336.810.0911.719.244.5361.0573.586.455.053.99%6.515.64.42%

BUNGAL

662+4.01+0.61%0.0184.680.23.26-0.79-9.68-778.48-0.2-0.21-5.6-0.92-

CHCL

477-1.29-0.27%0.0512122.010.046.426.635.4677.1774.7221.295.135.3%6.715.355.52%

CHL

265-2-0.75%085.092.221.033.251.214.6992240.52.171.890.7%10.455.82.16%

CKHL

620-5-0.8%090.170.422.234.30.6510.56166.051,023.080.421.440.21%10.274.630.69%

DHEL

595+3.02+0.51%0.01128.020.71.31-4.33-6.74-149.42-0.7-1.47-3.75-3.37-

DHPL

285+1.7+0.6%05.060.1555.112.921.0682.71107.5284.910.1510.36%13.7660.9622.15%

DOLTI

346-4.91-1.4%058.540.942.250.83-2.2710.91577.11-154.190.940.43-1.18%9.41.39-3.79%

DORDI

248-3.01-1.2%0.01105.55.60.680.83-0.883.72354.22-311.145.440.51-0.53%6.241.12-1.19%

EHPL

381.7-1.3-0.34%077.732.591.276.424.377.2465.7388.762.593.612.45%13.168.485.77%

GHL

222-1.79-0.8%095.0720.910.44-2.15-2.143.62-120-109.8120.91-1.55-1.54%3.37-2.24-2.23%

GLH

252.6+0.6+0.24%0111.360.024.662.182.613.36128.9101.530.020.360.43%0.361.972.37%

GVL

477.6-0.38-0.08%0.02125.771.951.519.1814.855.326.07331.645.974.63%10.1516.1212.49%
AVG434.85-1.59-0.36%0.0195.937.43.433.943.469.903-144.37357.2227.342.172.05%8.585.843.7%
MED372.15-1.36-0.41%095.072.551.193.252.795.5856.553.472.531.891.85%7.734.634.04%
MAX87518.913.26%0.05210.3348.2555.1119.1814.8582.71577.116,67648.258.158.69%13.7660.9622.15%
MIN210.2-25.02-2.78%05.060.020.04-19.31-13.753.36-3,866.67-311.140.02-5.08-3.62%0.36-24.52-17.46%

30

securities loaded

Best in class

Laggard

AVG

Average

MED

Median

MAX

Maximum

MIN

Minimum