NHPC - Receivables Decline; Pending Issues Cleared: ICICI Securities
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ICICI Securities Report
There have been four important developments in the past week for NHPC Ltd. -
1. Rs 7.34 billion received from Power Finance Corporation for the pending dues from Jammu and Kashmir - this and other receivables helping reduce receivables by 35% from Rs 50 billion at Q2 FY21-end;
2. Supreme Court allowed processing of tenders for completion of balance works of Teesta-VI HEP;
3. National Company Law Tribunal, Hyderabad bench, approved NHPC’s Rs 1.65 billion resolution plan for the 120 megawatt Jal Power Rangit stage-IV project in Sikkim; and
4) MoU has been signed with J&K government to develop more than 4.1 gigawatt of hydro capacity in the Union Territory.
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