Upper Solu Hydro Electric Company Limited

HydroPowerHigh Cap

NPR 502.00

NPR -6.9-1.36%

09:13 AM NPT · Sep 24, 2026

Est. 2067-02-14 B.S. (converted to public limited company on 2072-12-02; listed on NEPSE in 2079/2080) · Solu Khumbu District, Nepal (Corporate office registered in Kathmandu) · CEO: Yagartha Pokhrel

Upper Solu Hydro Electric Company is a Nepalese independent power producer focused on hydropower generation, with its flagship undertaking being the 23.5 MW Solu Hydropower Project (Solu HEP) in Solukhumbu district. The company was originally formed on May 28, 2010 as a private limited corporation. On April 14, 2016, USHEC was converted into a public limited company to allow for public investment. Construction on the Solu project began around 2015 and completed by December 2019; initial generation began around March 23, 2020 under contingency arrangement, with full commercial operation commencing on February 20, 2022 following completion of the transmission line connecting the plant to the national grid.As a run-of-river hydropower project, Solu HEP leverages the flow of the Solu River to produce electricity, which is sold under a long-term Power Purchase Agreement (PPA) with the Nepal Electricity Authority (NEA).Since going full-scale, the company has seen improving operational performance, with reportedly high plant-load-factors (PLF) and steady income for example, its TOI (total operating income) rose to NPR 675 million in FY 2024 from prior years. USHEC is publicly listed on the Nepal Stock Exchange (NEPSE). The company’s listed paid-up capital is NPR 1.35 billion with 13,500,000 shares outstanding. As of late 2025, USHEC shows a market capitalization in the several-billion-rupee range, making it a significant player among mid-size hydropower firms. Despite that, hydropower-specific risks remain run-of-river plants in Nepal are exposed to hydrology variability (river flow changes, seasonal dry seasons), and USHEC’s rating reports highlight leveraged capital structure and hydrology risks as key sensitivities for future performance. USHEC represents a transition from development-phase ambitions to an operational hydropower company supplying renewable energy to the national grid, contributing to Nepal’s energy supply while offering investment exposure to the public via NEPSE listing.

ushec.com.np/linkedin

Trading

Open

500.60

High

507.80

Low

500.00

Prev Close

508.90

Volume

9,172

Turnover

Rs 4,602,556.7

Txns

Valuation · Q4 FY25/26

EPS Ann.

15.46

EPS TTM

15.46

BVPS

119.02

P/E Ann.

32.47

P/E TTM

32.47

Graham #

203.47

Capital

Mkt Cap

6.78 Arab

Total

1.35 Crore

Public

1.35 Crore

Promoter

0.0

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Strong Buy

RSI

Sell

SuperTrend

Strong Buy

Trend Analysis

Direction

NaN

Strength

Very Strong

Momentum

RSI (14)

64.15

ADX

44.48

Overall Score

Above Line

Technical Score

Moving Averages

SMA 20

496.75

SMA 50

496.49

Bands & Channels

BB Width %

6.28%

Volume & Flow

OBV

2,023,348

Flow Analysis

[ Live 2026-09-24 ]

Total Buy

65,794

Shares Bought

Total Sell

65,794

Shares Sold

Net Flow

Net Accumulation

Active Brokers

Participating

ACCUM/DIST

Accumulation 51%

Distribution 49%

Accumulators

Quantity

26,427

Amount

13,433,175

Avg Rate

508.31

Rank

#49

Brokers

#33#47#34

Distributors

Quantity

24,909

Amount

12,605,835

Avg Rate

506.08

Rank

#58

Brokers

#50#59#94#49

Net Flow Impact:

+1,518units

(Rs. 827,341)

Net Flow by Timeframe

USHEC — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 96,215 ]

Buy Side

Total: 50,418

Broker

QTY

AVG

NET

12,727

509.58

+12,166

19.3%

7,440

509.46

+7,420

11.3%

6,260

504.38

+4,734

9.5%

4,497

509.10

+4,377

6.8%

3,959

509.34

+3,839

6.0%

2,109

511.14

+2,109

3.2%

2,000

508.02

+1,000

3.0%

1,800

506.79

+1,700

2.7%

1,750

502.72

+940

2.7%

1,681

509.41

+1,661

2.5%

1,380

506.00

+1,200

2.1%

1,375

504.11

+156

2.1%

1,300

510.23

+1,200

2.0%

1,135

505.21

+925

1.7%

1,005

508.95

+456

1.5%

Sell Side

Total: 45,797

Broker

QTY

AVG

NET

12,030

505.30

-9,545

18.3%

6,040

505.43

-5,840

9.2%

3,869

506.65

-3,819

5.9%

3,516

507.87

-2,516

5.3%

2,970

509.76

-2,970

4.5%

2,443

510.19

-1,623

3.7%

2,405

509.16

-2,275

3.7%

2,000

511.06

-2,000

3.0%

1,790

506.77

-1,648

2.7%

1,665

509.50

-1,665

2.5%

1,619

507.46

-634

2.5%

101

1,500

507.76

-1,500

2.3%

1,440

508.89

-1,440

2.2%

1,340

505.75

-1,340

2.0%

1,170

512.38

-180

1.8%

Financial Fundamentals

Financial Metric	FY25/26 Q4	FY24/25 Q4	FY23/24 Q4	FY22/23 Q4	Growth %
Sources of Fund
Equity
Paid up Capital	1,350,000	1,350,000	1,350,000	0	0.00%
Reserves and Surplus	256,755	0	-74,471	0	-
Other Equity	0.00	37041.76	0.00	0	-100.00%
Total Equity	1,606,755	1,387,042	1,275,529	0	+15.84%
Non Current Liabilities
Financial Liabilities	2,943,858	3,152,924	3,403,484	0	-6.63%
Other Non Current Liabilities	0.00	0.00	0.00	0	-
Total Non Current Liabilities	2,943,858	3,152,924	3,403,484	0	-6.63%
Application of Fund
Non Current Assets
Property Plant and Equipment (Net)	4,338,278	4,504,194	4,657,059	0	-3.68%
Capital Work In Progress	0.00	0.00	0.00	0	-
Intangible Assets	0.00	0.00	0.00	0	-
Financial Assets (Investments)	44,575	44,575	44,375	0	0.00%
Other Non Current Assets	0.00	0.00	0.00	0	-
Total Non Current Assets	4,382,853	4,548,769	4,701,434	0	-3.65%
Current Assets
Receivables	151,202	139,326	124,339	0	+8.52%
Inventories	0.00	0.00	0.00	0	-
Cash and Cash Equivalent	276,150	63,850	19,085	0	+332.50%
Financial Assets	0.00	0.00	0.00	0	-
Other Current Assets	0.00	0.00	0.00	0	-
Total Current Assets (A)	427,352	203,176	143,424	0	+110.34%
Current Liabilities
Financial Liabilities	2,943,858	3,152,924	3,403,484	0	-6.63%
Payables	36,110	33,012	26,095	0	+9.39%
Other Current Liabilities	0.00	0.00	0.00	0	-
Total Current Liabilities (B)	259,591	211,979	165,845	0	+22.46%
Net Current Assets (A-B)	167,761	-8,803	-22,421	0	+2005.78%

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q4

NPR/Millions

Statement

Highlight

TICKER	Market				Key Ratios
	Price	Chg	Chg%	Mkt Cap (M)	Asset Turnover	Book Value Per Share	Current Ratio	Debt to Equity	EPS (Annualized)	EPS (TTM)	Graham's Number	Interest Coverage	Net Profit Margin	P/B	P/E (Annualized)	PEG	P/E (TTM)	P/S	Quick Ratio	ROA (Annualized)	ROA (TTM)%	ROCE	ROE (Annualized)	ROE (TTM)%	Tax Burden
AHL	402.7	+10.7	+2.73%	0	0.06	68.43	0.28	4.81	-17.41	-17.41	-	-	-72.65	6.05	-23.78	-	-22.69	17.28	0.28	-4.43	-4.43%	0.3	-22.42	-22.42%	-
AHPC	266.9	+0.69	+0.26%	0.01	0.06	109.71	47.9	0.07	3.41	3.41	91.75	8.49	48.03	2.39	76.86	-	79.03	36.92	47.9	2.91	2.91%	5.9	3.15	3.15%	87.4
AKJCL	358	0	0%	0.01	0.09	93.69	3.15	0.37	3.18	3.18	81.88	45.61	28.35	3.6	105.97	2.05	112.89	30.06	3.12	2.45	2.45%	7.6	3.45	3.45%	100
AKPL	253	+1.41	+0.56%	0.01	0.06	101.77	0.7	0.85	1.02	1.02	48.33	79.07	12.99	2.45	244.12	-	253.82	31.64	0.7	0.75	0.75%	3.93	1.34	1.34%	109.6
APHL	671	+9.72	+1.47%	0	0.04	102.41	0.51	2.26	-4.12	-	-	-	-28.49	8	-198.79	-	-	56.64	0.48	-1.23	-	-0.11	-4.02	-	-
API	334.8	+0.8	+0.24%	0.02	0.12	119.51	0.41	1.05	15.06	15.06	201.24	38.4	54.37	2.68	21.29	0.2	22.31	11.58	0.41	6.48	6.48%	11.25	13.36	13.36%	85.19
APPOLO	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BARUN	326	-2.99	-0.91%	0	0.09	108.19	6.74	0.23	2.08	2.08	71.16	40.72	21.39	2.96	153.8	-	161.06	32.88	6.74	1.91	1.91%	5.63	2.54	2.54%	85.88
BEDC	308.9	+1.9	+0.62%	0	0.07	46.28	4.95	2.24	-1.7	-1.7	-	218.78	-14.77	6.66	-181.18	-	-182.94	26.83	4.95	-1.1	-1.1%	6.83	-3.59	-3.59%	-
BENI	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BGWT	492	+4.92	+1.01%	0	0.16	113.3	6.45	0.28	9.01	9.01	151.55	10.83	39.64	4.82	60.6	-	53.39	24.03	6.45	6.53	6.53%	11.28	8.22	8.22%	88.19
BHCL	574.8	+15.82	+2.83%	0.01	0.15	112.53	2.14	0.16	10.81	10.81	165.44	15.96	51.47	4	41.63	0.34	50.32	21.43	2.14	7.51	7.51%	13.6	10.08	10.08%	96.98
BHDC	433.4	+2.41	+0.56%	0.01	0.15	118.32	2.69	1.28	11.79	11.79	177.16	49.43	30.69	3.58	35.88	0.31	36.94	11.01	2.69	4.6	4.6%	12.4	10.59	10.59%	97.41
BHL	212.2	+0.19	+0.09%	0.01	0.13	81.22	1.8	1.96	7.72	7.72	118.78	62.35	24.48	2.51	26.42	0.16	28.15	6.47	1.72	3.23	3.23%	12.25	9.91	9.91%	83.13
BHPL	447.5	-0.49	-0.11%	0	0.08	50.03	1.14	1.86	-0.3	-0.3	-	133.02	-2.63	9.16	-1,527.67	-	-1,566.67	40.59	1.04	-0.2	-0.2%	8.83	-0.57	-0.57%	-
BJHL	643	+8.88	+1.4%	0.01	0.09	88.95	2.57	1.05	-2.6	-	-	233.82	-15.28	7.66	-261.92	-	-	40.04	2.57	-1.42	-	6.85	-2.92	-	-
BNHC	278.5	+1.91	+0.69%	0	0.13	100.59	7.62	0.97	1.49	1.49	58.07	111.02	6.46	2.76	186.58	1.49	188.86	12.02	7.62	0.8	0.8%	9.68	2.14	2.14%	97.01
BPCL	676	+1.08	+0.16%	0.02	0.1	210.87	7.05	0.09	9.84	9.84	216.07	3.19	41.84	3.17	67.89	1.46	70.93	28.41	6.52	4.18	4.18%	5.36	4.69	4.69%	80.94
BUNGAL	514	+3.01	+0.59%	0	0.09	81.42	0.21	3.4	-3.84	-	-	-	-11.28	7.18	-152.34	-	-	17.19	0.21	-1.07	-	4.34	-4.71	-	-
CHCL	352	-2.52	-0.71%	0.03	0.1	123.9	25.95	0.04	7.59	7.59	145.46	-	61.66	3.83	62.6	-	48.71	38.59	24.62	5.98	5.98%	7.15	6.2	6.2%	78.75
CHL	267	+1.99	+0.75%	0	0.13	84.29	2.08	1.03	1.72	1.72	57.11	92.02	7.56	3.04	148.84	1.37	155.81	11.25	2.03	1	1%	9.26	3.12	3.12%	101.74
CKHL	582.4	-4.58	-0.78%	0	0.11	100.19	0.83	1.96	13.25	13.25	172.83	77.7	40.33	6.37	48.15	0.04	44.98	19.42	0.83	4.44	4.44%	9.73	13.85	13.85%	100
DHEL	554	-1	-0.18%	0.01	0.04	118.14	0.45	1.37	-9.88	-	-	-	-89.33	4.57	-54.67	-	-	48.83	0.45	-3.52	-	2.24	-8.36	-	-
DHPL	275	+1.99	+0.73%	0	0.14	8.38	0.23	33.09	5.51	5.51	32.23	84.53	13.93	32.82	49.91	0.12	50.73	6.95	0.23	1.89	1.89%	14.84	93.63	93.63%	100
DOLTI	299	-4.99	-1.64%	0	0.1	59.87	1.11	2.2	0.87	0.87	34.23	125.13	4.65	5.31	365.4	3.06	355.17	17.08	1.11	0.45	0.45%	9.33	1.48	1.48%	100
DORDI	263	+1	+0.38%	0.01	0.07	106.3	1.83	0.91	1.42	1.42	58.28	57.15	10.91	2.32	173.94	1.3	185.14	18.97	1.81	0.76	0.76%	5.94	1.35	1.35%	106.79
EHPL	326.8	+0.81	+0.25%	0	0.13	76.3	2.47	1.28	3.39	3.39	76.29	69.82	14.32	4.3	96.84	0.83	98.82	13.86	2.47	1.93	1.93%	11.58	4.54	4.54%	98
GHL	253.7	-3.29	-1.28%	0	0.06	95.05	4.74	0.45	-1.33	-1.33	-	154.32	-15.98	2.26	-161.65	-	-182.93	25.9	4.74	-0.94	-0.94%	3.92	-1.38	-1.38%	-
GLH	278.8	-0.39	-0.14%	0.01	0.1	112.05	0.03	4.81	2.33	2.33	76.64	0.32	3.68	2.17	104.29	-	117.38	3.84	0.03	0.37	0.37%	0.39	2.09	2.09%	100
GVL	489.3	-0.69	-0.14%	0.02	0.14	124.33	1.4	1.52	12.94	12.94	190.26	82.6	29.87	3.86	37.09	2.71	38.25	11.09	1.24	4.07	4.07%	8.29	10.94	10.94%	97.08

AVG	397.63	1.73	0.34%	0.01	0.1	97	4.91	2.56	2.97	4.32	111.24	78.01	10.58	5.374	-16.21	1.103	8.228	23.6	4.83	1.73	2.32%	7.45	5.67	7.45%	94.7
MED	343.4	0.91	0.26%	0	0.1	101.18	1.96	1.17	2.21	3.29	86.82	69.82	13.46	3.845	49.03	1.065	52.06	20.425	1.92	1.44	1.92%	7.38	2.83	3.3%	97.25
MAX	676	15.82	2.83%	0.03	0.16	210.87	47.9	33.09	15.06	15.06	216.07	233.82	61.66	32.82	365.4	3.06	355.17	56.64	47.9	7.51	7.51%	14.84	93.63	93.63%	109.6
MIN	212.2	-4.99	-1.64%	0	0.04	8.38	0.03	0.04	-17.41	-17.41	32.23	0.32	-89.33	2.17	-1,527.67	0.04	-1,566.67	3.84	0.03	-4.43	-4.43%	-0.11	-22.42	-22.42%	78.75