NEPSE trading

NGPL
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By Sandeep Chaudhary

Ngadi Group Power Q4 Results: Revenue Recovery but Profit Weakness

Ngadi Group Power Q4 Results: Revenue Recovery but Profit Weakness

Ngadi Group Power Ltd. (NGPL) has published its audited financial results for the fourth quarter of FY 2024/25, revealing mixed performance across its key financial indicators. The company reported a total revenue of Rs. 114,948,390, a notable rebound of 21.06% compared to the previous quarter (Q3), though still down 5.18% year-on-year when compared to Q4 of 2023/24. This recovery in revenue marks a positive shift after consecutive declines in earlier quarters of the fiscal year.

The gross profit for Q4 stood at Rs. 99,174,740, reflecting an 86.28% margin, almost in line with the previous quarter’s margin of 86.32%. However, when compared to Q4 of 2023/24, gross profit fell from Rs. 106,377,880, indicating a pressure on profitability despite the improved revenue trend.

On the earnings front, NGPL’s net income dropped sharply to Rs. 17,115,620 in Q4, compared to Rs. 22,994,340 in Q3 and Rs. 25,057,340 in the same period last year. As a result, the net profit margin narrowed to 14.89%, a significant decline from 25.69% in Q3 and 20.67% in Q4 of 2023/24. The contraction in earnings highlights rising expenses and reduced efficiency in translating revenue growth into bottom-line gains.

The company’s return on assets (ROA) and return on equity (ROE) also showed a downward trend, with ROA dropping to 0.34% and ROE to 0.37%, compared to 0.81% and 0.93% respectively in Q4 of the previous year. Likewise, earnings per share (EPS) decreased to just Rs. 0.46 annualized, down from Rs. 0.83 in Q3 and Rs. 1.35 in Q4 of 2023/24, reflecting weakened shareholder returns.

Interestingly, NGPL’s reported price-to-earnings (PE) ratio surged dramatically to 862.43 in Q4, a sign that its earnings contraction is outpacing its market valuation growth. Meanwhile, the book value per share stood at Rs. 163.55, while the market value per share climbed significantly to Rs. 398.67, compared to Rs. 286.24 in Q3. This suggests that while profitability has weakened, investor sentiment in the secondary market remains optimistic, keeping share prices relatively high.

Dividend details for the fiscal year are yet to be declared, leaving investors watching closely for the company’s payout decision amid its mixed financial performance.

Overall, NGPL’s Q4 results show a recovery in revenue but continued pressure on net income and returns. Investors will be keen to see whether the revenue momentum sustains into the next fiscal year and whether efficiency improvements can revive earnings growth.

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