Sikles Hydropower Declares 15% Bonus Shares and 0.789% Cash Dividend; Plans 100% Right Shares Issue

Sikles Hydropower Limited (SIKLES) has announced the proposal to distribute a 15% bonus share and a 0.789% cash dividend to its shareholders.

The decision was approved during the company’s Board of Directors meeting held on 25th Shrawan 2082 at 5 PM. The bonus shares, amounting to Rs. 12.75 crore, and the cash dividend, totaling Rs. 67,10,526, will be distributed from the accumulated profits of FY 2080/81 and FY 2081/82. The cash portion will be used for tax purposes on the bonus shares.

Following the issuance of the bonus shares, the company plans to issue rights shares in a 1:1 ratio based on the adjusted paid-up capital. The proposal, subject to prior approval from the Electricity Regulatory Commission, will be presented for final approval at the company’s upcoming Annual General Meeting. The proceeds from the rights issue will be invested in other hydropower projects.

Financial performance highlights (Q4 FY 2081/82)

In Q4 FY 2081/82, Sikles Hydropower reported a paid-up capital of Rs. 85 crore, unchanged from the previous year, while reserves surged 97.85% to Rs. 13.46 crore from Rs. 6.80 crore in Q4 2080/81. Property, plant, and equipment stood at Rs. 196.43 crore, reflecting a 4.60% year-on-year decline. Income from power sales rose 2.95% to Rs. 3.02 crore, and net profit jumped 63.27% to Rs. 7.75 crore from Rs. 4.74 crore a year earlier. Earnings per share increased to Rs. 9.12 from Rs. 5.58, net worth per share improved to Rs. 115.84 from Rs. 108.01, and the quarter-end market price was Rs. 860.53, translating to a P/E ratio of 94.38 times.