Upper Solu Hydro Electric Company Limited

HydroPowerHigh Cap

NPR 491.30

NPR -1.7-0.34%

09:11 AM NPT · Jun 26, 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

493.00

High

495.00

Low

488.20

Prev Close

493.00

Volume

2,230

Turnover

Rs 1,095,205

Txns

Valuation · Q3 FY25/26

EPS Ann.

20.43

EPS TTM

14.61

BVPS

118.95

P/E Ann.

24.05

P/E TTM

33.63

Graham #

233.83

Capital

Mkt Cap

6.63 Arab

Total

1.35 Crore

Public

1.35 Crore

Promoter

0.0

NEPSE Chart

Technical Analysis

Indicator Signals

MACD

Strong Sell

RSI

Buy

SuperTrend

Strong Sell

Trend Analysis

Direction

NaN

Strength

Weak

Momentum

RSI (14)

31.05

ADX

15.01

Overall Score

Below Line

Technical Score

Moving Averages

SMA 20

502.73

SMA 50

498.49

Bands & Channels

BB Width %

6.13%

Volume & Flow

OBV

1,923,830

Flow Analysis

[ Live 2026-06-26 ]

Total Buy

29,181

Shares Bought

Total Sell

29,181

Shares Sold

Net Flow

Net Accumulation

Active Brokers

Participating

ACCUM/DIST

Accumulation 37%

Distribution 63%

Accumulators

Quantity

7,633

Amount

3,772,546

Avg Rate

494.24

Rank

#84

Brokers

#53#92#10

Distributors

Quantity

12,990

Amount

6,419,864

Avg Rate

494.22

Rank

#73

Brokers

#48#84#16#42

Net Flow Impact:

-5,357units

(Rs. -2,647,319)

Net Flow by Timeframe

USHEC — Broker Breakdown (7D)

15 Buyers15 Sellers

[ Vol: 46,476 ]

Buy Side

Total: 22,872

Broker

QTY

AVG

NET

3,538

496.93

+3,528

12.1%

3,518

494.61

+1,230

12.1%

2,395

490.52

+2,395

8.2%

1,770

494.11

+1,665

6.1%

1,709

489.98

+1,389

5.9%

1,700

493.90

+1,700

5.8%

1,580

491.64

+1,580

5.4%

1,440

498.42

+1,440

4.9%

1,400

491.69

+190

4.8%

1,000

486.20

+950

3.4%

822

488.77

+822

2.8%

600

495.08

+590

2.1%

550

489.72

+530

1.9%

500

488.86

+490

1.7%

350

488.07

+340

1.2%

Sell Side

Total: 23,604

Broker

QTY

AVG

NET

5,350

495.27

-5,300

18.3%

3,000

494.81

-3,000

10.3%

2,638

491.58

-1,638

9.0%

2,350

496.73

-2,350

8.1%

2,290

488.40

-2,290

7.8%

1,630

486.02

-430

5.6%

1,231

493.57

-1,231

4.2%

1,120

496.54

-400

3.8%

978

492.52

-828

3.4%

897

485.95

-897

3.1%

648

488.44

-628

2.2%

510

499.67

-251

1.8%

380

499.51

-380

1.3%

310

486.65

-210

1.1%

272

485.40

-272

0.9%

Financial Fundamentals

Financial Metric	FY25/26 Q3	FY24/25 Q3	FY23/24 Q3	FY22/23 Q3	Growth %
Sources of Fund
Equity
Paid up Capital	1,350,000	1,350,000	1,350,000	0	0.00%
Reserves and Surplus	0.00	0.00	-45251.40	0	-
Other Equity	255,803	47,795	0	0	+435.21%
Total Equity	1,605,803	1,397,795	1,304,749	0	+14.88%
Non Current Liabilities
Financial Liabilities	2,989,561	3,170,422	3,428,320	0	-5.70%
Other Non Current Liabilities	0.00	0.00	0.00	0	-
Total Non Current Liabilities	2,989,561	3,170,422	3,428,320	0	-5.70%
Application of Fund
Non Current Assets
Property Plant and Equipment (Net)	4,357,454	4,519,401	4,638,366	0	-3.58%
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	4,402,029	4,563,975	4,682,741	0	-3.55%
Current Assets
Receivables	146,701	108,442	155,149	0	+35.28%
Inventories	0.00	0.00	0.00	0	-
Cash and Cash Equivalent	298,658	101,383	59,788	0	+194.59%
Financial Assets	0.00	0.00	0.00	0	-
Other Current Assets	0.00	0.00	0.00	0	-
Total Current Assets (A)	445,359	209,825	214,937	0	+112.25%
Current Liabilities
Financial Liabilities	2,989,561	3,170,422	3,428,320	0	-5.70%
Payables	36,458	29,783	28,035	0	+22.41%
Other Current Liabilities	0.00	0.00	0.00	0	-
Total Current Liabilities (B)	252,024	205,583	164,609	0	+22.59%
Net Current Assets (A-B)	193,335	4,242	50,328	0	+4457.86%

Sector Peers — HydroPower (30)

Peer Comparison

HydroPower SECTOR — NEPAL

2025/2026 Q3

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	468.6	-1.41	-0.3%	0	0.05	71.36	0.24	4.27	-19.31	-13.75	-	-	-94.75	10.28	-28.49	-	-36.11	48.01	0.24	-5.08	-3.62%	2.52	-24.52	-17.46%	-
AHPC	264.3	-0.8	-0.3%	0.01	0.07	110.71	40.79	0.07	4.41	5.94	121.64	7.53	58.34	3.5	65.83	-	46.63	68.27	40.79	3.8	5.12%	6.71	4.09	5.52%	90.05
AKJCL	362.6	-4.11	-1.12%	0.01	0.09	92.42	2.95	0.38	2.56	2.28	68.86	47.65	22.22	5.79	156.88	11.71	181.14	62.12	2.95	1.96	1.75%	7.44	2.8	2.5%	100
AKPL	256.8	-1.11	-0.43%	0.01	0.1	103.42	0.87	0.85	4.92	7.23	129.71	55.12	28.85	3.58	56.5	0.16	36.93	28.98	0.87	2.8	4.12%	9.41	4.92	7.24%	97.9
APHL	875	-25.02	-2.78%	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
API	336.9	+0.91	+0.27%	0.02	0.12	115.32	0.26	1.19	13.76	11.48	172.59	29.36	50.48	4.03	25.31	0.33	30.31	22.7	0.26	5.89	4.91%	13.73	12.51	10.44%	85.97
APPOLO	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BARUN	325	-4.01	-1.22%	0	0.08	107.72	12.05	0.23	2.01	2.96	84.7	45.66	22.49	4.58	184.03	1.34	114.86	73.5	12.05	1.85	2.73%	5.24	2.48	3.66%	100
BEDC	342.5	-4.41	-1.27%	0	0.08	47.88	3.66	2.22	-0.12	-2.01	-	119.74	-1.02	12.92	-3,866.67	-	-179.6	68.06	3.66	-0.07	-1.29%	7.13	-0.25	-4.1%	-
BENI	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
BGWT	598.9	+18.91	+3.26%	0	0.19	112.67	13.69	0.29	11.16	11.9	173.69	9.23	43.93	8.91	67.47	3.27	55.13	52.7	13.69	8.15	8.69%	12.92	10.39	11.08%	88.19
BHCL	558.7	+6.68	+1.21%	0.01	0.15	109.64	5.1	0.29	10.43	11.11	165.55	17.6	51.48	6.77	53.4	0.21	53.47	48.86	5.1	7.92	8.44%	12.45	13	13.85%	97.02
BHDC	444	-3.99	-0.89%	0.01	0.16	117.43	2.91	1.09	13.22	9.42	157.76	46.51	33.32	5.55	36.97	0.51	49.15	21.89	2.91	5.39	3.84%	13.43	11.89	8.46%	99.99
BHL	210.2	-0.8	-0.38%	0.01	0.14	79.95	2.55	1.97	8.59	4.6	90.97	65.21	26.82	3.85	26.9	-	-	12.82	2.53	3.64	1.95%	13.17	10.99	5.88%	85.68
BHPL	505.5	-3	-0.59%	0	0.08	50.03	1.43	1.97	-0.59	-3.5	-	182.17	-4.61	14.92	-948.98	-	-156.74	78.42	1.25	-0.39	-2.31%	7.73	-1.11	-6.64%	-
BJHL	825	-14.01	-1.67%	0.01	0.09	88.82	48.25	1.06	-3.26	-	-	297.83	-19.68	18.61	-380.37	-	-	133.23	48.25	-1.77	-	6.48	-3.67	-	-
BNHC	315.1	-2.99	-0.94%	0	0.15	84.3	0.6	2.94	7.78	0.05	9.74	101.79	15.94	5.58	45.37	0.01	6,676	12.86	0.6	2.31	0.01%	13.59	9.29	0.05%	100
BPCL	654.9	+4.88	+0.75%	0.02	0.11	210.33	6.81	0.09	11.71	9.24	209.11	3.43	48.06	4.53	61.05	1.37	73.58	52.17	6.45	5.05	3.99%	6.51	5.6	4.42%	81.76
BUNGAL	662	+4.01	+0.61%	0.01	0.11	84.68	0.2	3.26	-0.79	-	-	-	-2.06	9.68	-778.48	-	-	28.76	0.2	-0.21	-	5.6	-0.92	-	-
CHCL	477	-1.29	-0.27%	0.05	0.09	121	22.01	0.04	6.42	6.63	134.35	-	55.48	5.46	77.17	-	74.72	76.1	21.29	5.13	5.3%	6.71	5.35	5.52%	72.57
CHL	265	-2	-0.75%	0	0.14	85.09	2.22	1.03	3.25	1.21	48.13	85.57	13.54	4.69	92	0.73	240.5	22.12	2.17	1.89	0.7%	10.45	5.8	2.16%	100.94
CKHL	620	-5	-0.8%	0	0.11	90.17	0.42	2.23	4.3	0.65	36.31	75.54	12.75	10.56	166.05	0.94	1,023.08	37.64	0.42	1.44	0.21%	10.27	4.63	0.69%	100
DHEL	595	+3.02	+0.51%	0.01	0.04	128.02	0.7	1.31	-4.33	-	-	284.93	-38.81	6.74	-149.42	-	-	103.07	0.7	-1.47	-	3.75	-3.37	-	-
DHPL	285	+1.7	+0.6%	0	0.13	5.06	0.15	55.11	2.92	1.06	10.99	100.65	7.86	82.71	107.5	0.22	284.91	15.02	0.15	1	0.36%	13.76	60.96	22.15%	100
DOLTI	346	-4.91	-1.4%	0	0.1	58.54	0.94	2.25	0.83	-2.27	-	118.77	4.27	10.91	577.11	3.38	-154.19	43.89	0.94	0.43	-1.18%	9.4	1.39	-3.79%	100
DORDI	248	-3.01	-1.2%	0.01	0.08	105.5	5.6	0.68	0.83	-0.88	-	71.37	6.37	3.72	354.22	2.82	-311.14	40.16	5.44	0.51	-0.53%	6.24	1.12	-1.19%	101.05
EHPL	381.7	-1.3	-0.34%	0	0.14	77.73	2.59	1.27	6.42	4.37	87.42	54.08	25.2	7.24	65.73	0.43	88.76	29.44	2.59	3.61	2.45%	13.16	8.48	5.77%	97.99
GHL	222	-1.79	-0.8%	0	0.06	95.07	20.91	0.44	-2.15	-2.14	-	256.14	-28.16	3.62	-120	-	-109.81	60.03	20.91	-1.55	-1.54%	3.37	-2.24	-2.23%	-
GLH	252.6	+0.6	+0.24%	0	0.09	111.36	0.02	4.66	2.18	2.61	80.87	0.39	4.09	3.36	128.9	8.6	101.53	9.38	0.02	0.36	0.43%	0.36	1.97	2.37%	100
GVL	477.6	-0.38	-0.08%	0.02	0.16	125.77	1.95	1.5	19.18	14.85	204.99	58.62	38.15	5.3	26.07	0.79	33	17.69	1.64	5.97	4.63%	10.15	16.12	12.49%	100

AVG	434.85	-1.59	-0.36%	0.01	0.108	95.93	7.4	3.43	3.94	3.46	110.41	88.95	14.09	9.903	-144.37	2.166	357.222	46.959	7.34	2.17	2.05%	8.58	5.84	3.7%	94.96
MED	372.15	-1.36	-0.41%	0	0.1	95.07	2.55	1.19	3.25	2.79	106.31	61.91	15.94	5.58	56.5	0.79	53.47	43.89	2.53	1.89	1.85%	7.73	4.63	4.04%	100
MAX	875	18.91	3.26%	0.05	0.19	210.33	48.25	55.11	19.18	14.85	209.11	297.83	58.34	82.71	577.11	11.71	6,676	133.23	48.25	8.15	8.69%	13.76	60.96	22.15%	101.05
MIN	210.2	-25.02	-2.78%	0	0.04	5.06	0.02	0.04	-19.31	-13.75	9.74	0.39	-94.75	3.36	-3,866.67	0.01	-311.14	9.38	0.02	-5.08	-3.62%	0.36	-24.52	-17.46%	72.57