Financial Details
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
| articulars | 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 |