Trishuli Jal Vidhyut Company Limited

HydroPowerHigh Cap

NPR 474.00

NPR -6-1.25%

09:03 AM NPT · Aug 12, 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

475.10

High

480.00

Low

473.50

Prev Close

480.00

Volume

2,990

Turnover

Rs 1,419,987

Txns

0

Valuation · Q3 FY25/26

EPS Ann.

-7.01

EPS TTM

-5.97

BVPS

78.22

P/E Ann.

-67.62

P/E TTM

-79.40

Graham #

N/A

Capital

Mkt Cap

8.48 Arab

Total

1.79 Crore

Public

26.84 Lakh

Promoter

1.52 Crore

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Sell

RSI

Neutral

SuperTrend

Strong Sell

Trend Analysis

Direction

Uptrend

Strength

Very Strong

Momentum

RSI (14)

42.2

ADX

47.82

Overall Score

44
Below Line

Technical Score

Moving Averages

SMA 20

481.75

SMA 50

485.81

Bands & Channels

BB Width %

6.89%

Volume & Flow

OBV

1,259,963

Flow Analysis

[ Live 2026-08-11 ]

Total Buy

45,221

Shares Bought

Total Sell

45,221

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

54

Participating

ACCUM/DIST

Accumulation 47%

Distribution 53%

Accumulators

3

Quantity

30,141

Amount

14,466,786

Avg Rate

479.97

Rank

#39

Brokers

#28#92#58

Distributors

3

Quantity

33,929

Amount

16,209,811

Avg Rate

477.76

Rank

#41

Brokers

#74#81#14

Net Flow Impact:

-3,788units
(Rs. -1,743,025)

Net Flow by Timeframe

TVCL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 77,195 ]

Buy Side

Total: 39,431

Broker

QTY

AVG

NET

%

28

17,010

479.15

+12,110

37.6%

92

8,191

481.25

+8,191

18.1%

58

4,940

480.67

+4,320

10.9%

99

1,454

477.04

+1,454

3.2%

75

1,400

482.08

+1,380

3.1%

17

1,270

475.47

+1,270

2.8%

32

1,000

475.00

+379

2.2%

50

900

474.74

+900

2.0%

49

830

472.89

+699

1.8%

45

625

470.00

+366

1.4%

4

619

475.23

+619

1.4%

57

350

474.86

+310

0.8%

48

330

476.73

+270

0.7%

101

312

474.60

+292

0.7%

16

200

483.20

+48

0.4%

Sell Side

Total: 37,764

Broker

QTY

AVG

NET

%

74

14,613

480.02

-13,477

32.3%

81

13,002

474.38

-13,002

28.8%

14

6,314

479.47

-3,949

14.0%

52

807

488.42

-437

1.8%

66

778

477.63

-268

1.7%

44

530

477.83

-300

1.2%

34

330

481.41

-310

0.7%

1

280

472.48

-280

0.6%

41

270

491.72

-20

0.6%

33

250

487.23

-250

0.6%

29

150

483.59

-120

0.3%

40

130

485.85

-130

0.3%

22

110

477.65

-110

0.2%

13

100

480.00

-70

0.2%

62

100

470.62

-100

0.2%

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

416.5-0.5-0.12%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

264-0.21-0.08%0.01110.7140.790.074.415.943.565.8346.6340.793.85.12%6.714.095.52%

AKJCL

363.8-1.2-0.33%0.0192.422.950.382.562.285.79156.88181.142.951.961.75%7.442.82.5%

AKPL

252-2.29-0.9%0.01103.420.870.854.927.233.5856.536.930.872.84.12%9.414.927.24%

APHL

815-15.02-1.81%0--------------

API

331-1-0.3%0.02115.320.261.1913.7611.484.0325.3130.310.265.894.91%13.7312.5110.44%

APPOLO

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

BARUN

317.5-1.6-0.5%0107.7212.050.232.012.964.58184.03114.8612.051.852.73%5.242.483.66%

BEDC

316-2-0.63%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

537.6-7.41-1.36%0112.6713.690.2911.1611.98.9167.4755.1313.698.158.69%12.9210.3911.08%

BHCL

493+2.99+0.61%0.01109.645.10.2910.4311.116.7753.453.475.17.928.44%12.451313.85%

BHDC

428.5+0.39+0.09%0.01117.432.911.0913.229.425.5536.9749.152.915.393.84%13.4311.898.46%

BHL

207.7-0.29-0.14%0.0179.952.551.978.594.63.8526.9-2.533.641.95%13.1710.995.88%

BHPL

485-14.02-2.81%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

684+3+0.44%0.0188.8248.251.06-3.26-18.61-380.37-48.25-1.77-6.48-3.67-

BNHC

281.6-2.9-1.02%084.30.62.947.780.055.5845.376,6760.62.310.01%13.599.290.05%

BPCL

655+8.02+1.24%0.02210.336.810.0911.719.244.5361.0573.586.455.053.99%6.515.64.42%

BUNGAL

588-3.01-0.51%0.0184.680.23.26-0.79-9.68-778.48-0.2-0.21-5.6-0.92-

CHCL

481-1.01-0.21%0.0512122.010.046.426.635.4677.1774.7221.295.135.3%6.715.355.52%

CHL

264-3.29-1.23%085.092.221.033.251.214.6992240.52.171.890.7%10.455.82.16%

CKHL

609+10+1.67%090.170.422.234.30.6510.56166.051,023.080.421.440.21%10.274.630.69%

DHEL

602-12.98-2.11%0.01128.020.71.31-4.33-6.74-149.42-0.7-1.47-3.75-3.37-

DHPL

283-6.99-2.41%05.060.1555.112.921.0682.71107.5284.910.1510.36%13.7660.9622.15%

DOLTI

318-0.99-0.31%058.540.942.250.83-2.2710.91577.11-154.190.940.43-1.18%9.41.39-3.79%

DORDI

250-1-0.4%0.01105.55.60.680.83-0.883.72354.22-311.145.440.51-0.53%6.241.12-1.19%

EHPL

336-0.2-0.06%077.732.591.276.424.377.2465.7388.762.593.612.45%13.168.485.77%

GHL

229.4-0.6-0.26%095.0720.910.44-2.15-2.143.62-120-109.8120.91-1.55-1.54%3.37-2.24-2.23%

GLH

257.2-1.01-0.39%0111.360.024.662.182.613.36128.9101.530.020.360.43%0.361.972.37%

GVL

481+0.48+0.1%0.02125.771.951.519.1814.855.326.07331.645.974.63%10.1516.1212.49%
AVG412.39-1.95-0.49%0.0195.937.43.433.943.469.903-144.37357.2227.342.172.05%8.585.843.7%
MED349.9-1.01-0.32%095.072.551.193.252.795.5856.553.472.531.891.85%7.734.634.04%
MAX815101.67%0.05210.3348.2555.1119.1814.8582.71577.116,67648.258.158.69%13.7660.9622.15%
MIN207.7-15.02-2.81%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