Shivashree Hydropower Reported Its Q3 Report With A Net Loss Of Rs. 28.9 Crores
Thu, May 19, 2022 11:51 AM on Latest, Financial Analysis, Stock Market,
Shivashree Hydropower Ltd (SSHL) has published its third-quarter unaudited report with a net loss of Rs. 28.9 crores for the fiscal year 2078/79. The hydropower sold electricity worth Rs. 17.9 crores and attained other incomes amounting to Rs. 1 Crore for the third quarter.
On the basis of the quarterly report published by the company, the finance cost incurred till Chaitra 2078, is Rs. 27.7 crores. Financing cost mainly known as the cost of finances, is the cost, interest, and other charges involved in the borrowing of money to build or purchase assets. Likewise, SSHL is developing Upper Chaku “A” Hydropower Project in the Sindhupalchok district. The project was initially started as a trial version on Baishakh 9, 2078. The project was financed through a debt: equity ratio of 68.75:31.25.
Despite having revenue from sales of electricity, the company is still procuring losses because of its huge finance cost which mainly is due to the interest payable by the company for paying off its loan.
The net loss is also attributed to the fact that the company’s payable exceeds the receivable. The current liabilities and payables of the company for the Q3 stand at Rs. 47.6 crores while the receivable is Rs. 34.3 crores. SSHL is also exposed to counter party payment risk pertaining to NEA.
Similarly, The reserve and surplus stand at Rs. -27.06 crores with share capital at Rs 1.47 Arba. At this capital, the earning per share of the company is -26.10. The net worth per share at Rs 81.67 and the P/E ratio stood at -11.34 times.
SSHL is a public company, incorporated on March 31, 2006 ,as private limited company and changed to the public limited company on December 14, 2016.
Major Financial Highlights
| Particulars (Rs in 000) | Shivashree Hydropower Ltd |
|---|---|
| Q3 2078/79 | |
| Paid Up Capital | 1,476,400.00 |
| Reserves and Surplus | (270,638.42) |
| Net Property, Plant and Equipment | 5,264,102.94 |
| Trade Receivables and Advances | 343,521.74 |
| Cash and Cash Equivalents | 886.27 |
| Current Liailities and Payables | 476,603.57 |
| Sale of Electricity | 179,223.42 |
| Other Income | 10,000.00 |
| Operation and Maintenance Expenses | 62,340.13 |
| Finance Cost | 277,536.77 |
| Operating Profit | 121,839.08 |
| Net Profit/(Loss) | (289,049.31) |
| EPS (In Rs.) | (26.10) |
| Net Worth per Share (In Rs.) | 81.67 |
| Qtr End P/E Ratio | (11.34) |
| Qtr End Market Price | 296 |
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