Trishuli Jal Vidhyut Company Limited

HydroPowerMid Cap

NPR 317.60

NPR +17.6+5.87%

09:14 AM NPT · Sep 15, 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

315.00

High

329.00

Low

305.70

Prev Close

300.00

Volume

18,545

Turnover

Rs 5,810,002.2

Txns

0

Valuation · Q4 FY25/26

EPS Ann.

-7.36

EPS TTM

-7.36

BVPS

76.12

P/E Ann.

-43.15

P/E TTM

-43.15

Graham #

N/A

Capital

Mkt Cap

5.68 Arab

Total

1.79 Crore

Public

26.84 Lakh

Promoter

1.52 Crore

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Strong Sell

RSI

Strong Buy

SuperTrend

Strong Sell

Trend Analysis

Direction

Downtrend

Strength

Very Strong

Momentum

RSI (14)

17.39

ADX

55.81

Overall Score

25
Below Line

Technical Score

Moving Averages

SMA 20

378.97

SMA 50

438.87

Bands & Channels

BB Width %

77.88%

Volume & Flow

OBV

888,574

Flow Analysis

[ Live 2026-09-15 ]

Total Buy

95,889

Shares Bought

Total Sell

95,889

Shares Sold

Net Flow

0

Net Accumulation

Active Brokers

67

Participating

ACCUM/DIST

Accumulation 48%

Distribution 52%

Accumulators

3

Quantity

48,663

Amount

14,486,905

Avg Rate

297.70

Rank

#53

Brokers

#14#81#34

Distributors

4

Quantity

52,561

Amount

15,674,997

Avg Rate

298.22

Rank

#51

Brokers

#28#64#99#101

Net Flow Impact:

-3,898units
(Rs. -1,188,092)

Net Flow by Timeframe

TVCL — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 151,816 ]

Buy Side

Total: 73,944

Broker

QTY

AVG

NET

%

14

38,809

294.41

+37,251

40.5%

81

6,568

313.39

+6,078

6.8%

74

4,373

295.84

+2,852

4.6%

25

3,451

300.74

+874

3.6%

34

3,286

305.23

+2,936

3.4%

49

3,286

300.22

+1,319

3.4%

58

3,052

301.62

+741

3.2%

71

3,045

305.78

+1,025

3.2%

69

1,835

297.50

+1,835

1.9%

45

1,765

301.79

+1,566

1.8%

36

1,014

293.18

+994

1.1%

53

1,010

306.82

+944

1.1%

13

900

281.89

+850

0.9%

22

800

287.19

+760

0.8%

38

750

284.67

+510

0.8%

Sell Side

Total: 77,872

Broker

QTY

AVG

NET

%

28

34,835

296.17

-28,530

36.3%

64

7,170

293.59

-5,610

7.5%

99

6,646

310.32

-3,981

6.9%

51

4,750

274.35

-3,040

5.0%

44

4,705

304.45

-3,105

4.9%

101

3,910

304.50

-3,679

4.1%

35

3,255

302.94

-3,030

3.4%

33

2,745

292.34

-2,015

2.9%

19

2,086

294.58

-1,986

2.2%

91

1,970

314.30

-1,960

2.0%

5

1,705

294.57

-335

1.8%

26

1,090

297.84

-965

1.1%

6

1,075

287.93

-355

1.1%

85

1,000

311.95

-1,000

1.0%

83

930

286.09

-930

1.0%

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

376.1+18.11+5.06%068.430.284.81-17.41-17.416.05-23.78-22.750.28-4.43-4.43%0.3-22.42-22.42%

AHPC

273+7+2.63%0.01109.7147.90.073.413.412.3976.8676.5147.92.912.91%5.93.153.15%

AKJCL

353+9.11+2.65%0.0193.693.150.373.183.183.6105.97109.723.122.452.45%7.63.453.45%

AKPL

260+3.31+1.29%0.01101.770.70.851.021.022.45244.12244.120.70.750.75%3.931.341.34%

APHL

715+17.98+2.58%0102.410.512.26-4.12-8-198.79-0.48-1.23--0.11-4.02-

API

343.9+3.91+1.15%0.02119.510.411.0515.0615.062.6821.2922.240.416.486.48%11.2513.3613.36%

APPOLO

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

BARUN

332+12.8+4.01%0108.196.740.232.082.082.96153.8153.896.741.911.91%5.632.542.54%

BEDC

309.9+5.9+1.94%046.284.952.24-1.7-1.76.66-181.18-181.184.95-1.1-1.1%6.83-3.59-3.59%

BENI

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

BGWT

505+8+1.61%0113.36.450.289.019.014.8260.657.766.456.536.53%11.288.228.22%

BHCL

530+6.49+1.24%0112.532.140.1610.8110.81441.6350.052.147.517.51%13.610.0810.08%

BHDC

433.7+8.8+2.07%0.01118.322.691.2811.7911.793.5835.8836.052.694.64.6%12.410.5910.59%

BHL

216+5+2.37%0.0181.221.81.967.727.722.5126.4226.811.723.233.23%12.259.919.91%

BHPL

470+10.12+2.2%050.031.141.86-0.3-0.39.16-1,527.67-1,593.331.04-0.2-0.2%8.83-0.57-0.57%

BJHL

664.9+14.89+2.29%0.0188.952.571.05-2.6-7.66-261.92-2.57-1.42-6.85-2.92-

BNHC

279+3.01+1.09%0100.597.620.971.491.492.76186.58186.987.620.80.8%9.682.142.14%

BPCL

673.9+20.01+3.06%0.02210.877.050.099.849.843.1767.8967.076.524.184.18%5.364.694.69%

BUNGAL

538+15.01+2.87%081.420.213.4-3.84-7.18-152.34-0.21-1.07-4.34-4.71-

CHCL

360.1+1.4+0.39%0.04123.925.950.047.597.593.8362.663.8224.625.985.98%7.156.26.2%

CHL

266+5.5+2.11%084.292.081.031.721.723.04148.84154.652.0311%9.263.123.12%

CKHL

605+14.99+2.54%0100.190.831.9613.2513.256.3748.1544.930.834.444.44%9.7313.8513.85%

DHEL

575+5.02+0.88%0.01118.140.451.37-9.88-4.57-54.67-0.45-3.52-2.24-8.36-

DHPL

278.1+3.11+1.13%08.380.2333.095.515.5132.8249.9150.820.231.891.89%14.8493.6393.63%

DOLTI

311.9+4.91+1.6%059.871.112.20.870.875.31365.4351.841.110.450.45%9.331.481.48%

DORDI

257+6+2.39%0.01106.31.830.911.421.422.32173.94173.731.810.760.76%5.941.351.35%

EHPL

331.6+5.61+1.72%076.32.471.283.393.394.396.8494.752.471.931.93%11.584.544.54%

GHL

247.8+2.89+1.18%095.054.740.45-1.33-1.332.26-161.65-173.684.74-0.94-0.94%3.92-1.38-1.38%

GLH

263+5.81+2.26%0112.050.034.812.332.332.17104.29108.280.030.370.37%0.392.092.09%

GVL

498+4+0.81%0.02124.331.41.5212.9412.943.8637.0937.331.244.074.07%8.2910.9410.94%
AVG402.398.172.04%0.01974.912.562.974.325.374-16.215.854.831.732.32%7.455.677.45%
MED348.455.952.09%0101.181.961.172.213.293.84549.0360.791.921.441.92%7.382.833.3%
MAX71520.015.06%0.04210.8747.933.0915.0615.0632.82365.4351.8447.97.517.51%14.8493.6393.63%
MIN2161.40.39%08.380.030.04-17.41-17.412.17-1,527.67-1,593.330.03-4.43-4.43%-0.11-22.42-22.42%

30

securities loaded

Best in class

Laggard

AVG

Average

MED

Median

MAX

Maximum

MIN

Minimum