Financials Deails

APPROVAL PROPOSAL

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The estimated cost of project is NRS 366 Crores and the project has been financed by D:E ratio of 70:30.

  • The credit facility agreement of the project has already been signed with the consortium of Nepalese Banks with D:E Ratio of 70:30 and thus Bank financing shall be made for NRS 2567.2 Million and Equity Capital for NRS 1100.2 Million.
  • The Land owned by the company has already been mortgaged by the Lending Banks.
  • The Bank has already appointed Financial Consultant, M/s S & S Associates, Chartered Accountants,
  • The Bank has already appointed Technical Consultant, M/s Hydro Consult Engineering Limited,
  • Promoters of the company have a strong Networth and are committed for successful commissioning of the project. The promoters have already injected more than 70% of equity capital into the project to speed up the project.

 

Projected Project Cost

S. N. Description Basic Estimated Cost Including VAT Percentage
1 Land 101,050,000 3%
2 Civil Work & Infrastructures 1,740,310,000 47%
3 Hydromechanical Assets 207,651,000 6%
4 Electromechanical Assets 580,780,000 16%
5 Transmission Line 90,363,000 2%
6 Other Machinery & Equipments 0%
7 Vehicles & Equipments 45,900,000 1%
8 Project Development Cost 336,502,000 9%
Total Base Cost 3,102,556,000 85%
9 Contingencies 139,674,850 4%
10 Escalations etc 177,152,135 5%
11 Interest During Construction ( IDC ) 248,128,291 7%
Total cost of Project 3,667,511,276 100%

 

Projected Sources of Financing

Particulars Amount in NPR Ratio
Project Cost 3,667,511,276.00 100%
Bank Financing (with interest capitalization) 2,567,257,893.20 70%
Equity Capital 1,100,253,382.80 30%

 

Economic & Financial Indicator (PPA Based)

Total Project Cost (NRs) 3,667,511,276.00
Annual Energy Revenue at 1st Year as per contracted Energy (NRS) 623,846,512.50
Annual Energy Revenue at 6th Year as per contracted Energy (NRS) after 5 escalations @3% per Annam. 717,423,489.39
Average DSCR ( Over Loan Period of 12 Years ) 1.55
Payback Period of Project 9.72
B/C Ratio 1.367
FIRR 15.80%
IRR ON EQUITY 22.07%

 

Project’s Contracted Energy Composition

Particulars Contracted Energy (KWh) Contracted Rate (PPA)
Dry Season Energy 18,276,189 NRS 8.4
Wet Season Energy 97,984,692 NRS 4.8
Total Annual Contracted Energy 116,260,882

 

Current Shareholding

 

SN Particulars Unit Amount
1 Authorized Capital NRS 1,250,000,000.00
2 Estimated Equity for Project NRS 1,100,000,000.00
3 Paid Up NRS 732,535,000.00 66.59%
SN Name of Promoter Position in Company Paid Up Capital % of Paid Up
1 Sitaram Timalsina Promoter 344,485,000.00 47.03%
2 Bhumika Limbu Promoter 1,800,000.00 0.25%
3 Satish Timalsina Promoter 30,000,000.00 4.10%
4 Prahlad Timalsina Promoter 30,000,000.00 4.10%
5 Sagar Timalsina Promoter 5,850,000.00 0.80%
6 Surya P. Joshi Promoter 50,000,000.00 6.83%
7 Singhalila Energy Pvt. Ltd Promoter 20,000,000.00 2.73%
8 Baikuntha Sharma Promoter 50,300,000.00 6.87%
9 Pushpa Chitrakar Promoter 24,000,000.00 3.28%
10 Neera Upreti ( Dhital ) Promoter 5,700,000.00 0.78%
11 Neeru Upreti ( Pudasaini ) Promoter 2,800,000.00 0.38%
12 Prakash Timilsina Promoter 50,000,000.00 6.83%
13 Nisa Timalsina Promoter 2,800,000.00 0.38%
14 Rishi Ram Kandel Promoter 10,900,000.00 1.49%
15 Ashish Garg Promoter 5,700,000.00 0.78%
16 Netra Prasad Bhatta Promoter 10,000,000.00 1.37%
17 Roadshow Investment Promoter 50,000,000.00 6.83%
18 Radha Devi Baral Promoter 2,500,000.00 0.34%
19 Saraswati Rizal Promoter 3,100,000.00 0.42%
20 Lakpa Gyalzen Sherpa Promoter 10,000,000.00 1.37%
21 Dilasha Rajya Laxmi Rana Promoter 2,500,000.00 0.34%
22 Ram Krishna Timalsina Promoter 2,500,000.00 0.34%
23 Surendra Kumar Timalsina Promoter 1,000,000.00 0.14%
24 Karuna Gautam Promoter 5,500,000.00 0.75%
25 Renuka Devi Pokhrel Promoter 6,100,000.00 0.83%
26 Rita Bidari Promoter 5,000,000.00 0.68%
TOTAL 732,535,000.00 100%

 

Statement of Expenditures till Date ( 15th Dec 2016)

APPLICATIONS OF FUND:
S. N. DESCRIPTIONS BUDGET
(RS)
BUDGET WTG (%) COST UPTO 15 DEC 2016 REMARKS
1 LAND 157,500,000 4.29% 141,074,162 89.57%
2 CIVIL WORKS 2,048,678,230 55.86% 1,283,913,850 62.67%
3 ELECTROMECHANICAL WORKS 524,830,000 14.31% 557,983 0.11%
4 HYDROMECHANICAL WORKS 211,845,950 5.78% 70,374,462 33.22%
5 TRANSMISSION & INTERCONNECTION WORKS 93,712,500 2.56% 0.00%
6 ACCESS ROAD, INFRASTRUCTURES, CAMPS, VEHICLE & EQUIPMENTS 105,664,121 2.88% 120,945,034 114.46%
7 SOCIAL COSTS 21,210,000 0.58% 9,536,470 44.96%
8 ADMINISTRATIVE, MANAGEMENT, ENGINEERING & SUPERVISION COST 255,915,688 6.98% 175,336,974 68.51%
9 INTEREST DURING CONSTRUCTION (IDC) 248,154,747 6.77% 30,851,651 12.43%
ADVANCE, DEPOSIT, AND INVENTORIES
1 ADVANCES TO CONTRACTORS, LC MARGINS & DEPOSITS 322,886,303
2 INVENTORIES AT SITE 34,592,954
TOTAL COST ( OUTFLOW OF FUND ) 3,667,511,236 95.71% 2,190,069,842 59.72%
SOURCES OF FUND:
S. N. DESCRIPTIONS BUDGET
(RS)
BUDGET WTG (%) COST UPTO 15 DEC 2016 REMARKS
1 EQUITY CAPITAL AS PER SHARE LAGAT 1,100,253,371 30.00% 732,535,000 66.58%
2 BANK LOANS 2,567,257,865 70.00% 1,180,804,870 45.99%
SHORT TERM LIABILITIES
1 SHORT TERM BORROWINGS 190,597,233
2 OTHER PAYABLES 88,212,169
BANK BALANCES (2,079,429)
TOTAL SOURCES ( INFLOW OF FUND ) 3,667,511,236 2,190,069,842

Project Schedule