Valuation · at the close on 16 Oct 2026

Nishat Power Limited (NPL) valuation

At Rs 53.20 (close on 16 Oct 2026) NPL trades at 7.6× earnings (FY2026), above its five-year average of 4.2× and below the Power Generation & Distribution median of 8.7×. The shares are priced at 0.63× book value (sector median 0.72×). Enterprise value of Rs 20.4 bn is 19.5× EBITDA. The dividend yield is 4.7%, against a five-year average of 16.1%.

P/E · today

7.6×

FY2026

5-yr average4.2× Sector median8.7×

P/B · today

0.63×

FY2026

5-yr average0.44× Sector median0.72×

EV/EBITDA · today

19.5×

5-yr average1.9× Sector median10.1×

Dividend yield · today

4.7%

FY2026

5-yr average16.1% Payers' median10.3%

Market value Rs 18.8 bn at Rs 53.20. Sector medians use the latest close of 16 Power Generation & Distribution companies; P/E and P/B only where earnings / book value are positive; the yield median covers dividend payers only. Not investment advice.

Valuation history

At each fiscal year-end price.

5 10 All

NPL valuation history (annual) (Rs bn)

Rs bn	FY2026 Jul 2025 – Jun 2026	FY2025 Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 Jul 2020 – Jun 2021	FY2020 Jul 2019 – Jun 2020	FY2019 Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 Jul 2009 – Jun 2010	FY2009 Jul 2008 – Jun 2009
Market capitalisation	26.0	12.8	14.0	6.0	6.9	7.0	8.0	9.8	10.5	16.7	17.9	20.7	12.6	11.9	5.2	5.5	3.5	—
Enterprise value	27.6	(4.7)	6.4	1.2	5.2	10.3	12.8	19.2	20.0	25.2	25.6	31.2	25.4	22.1	24.6	22.7	19.2	—
Share price (period end) Rs	73.51	36.27	39.53	16.95	19.50	19.65	22.65	27.54	29.64	47.24	50.51	58.54	35.58	33.49	14.70	15.44	9.94	—
P/E (diluted)	10.48×	—	2.60×	1.47×	2.08×	2.60×	1.62×	2.59×	3.27×	5.80×	6.27×	6.65×	4.32×	4.33×	2.56×	2.91×	73.60×	—
Price to book	0.87×	0.46×	0.43×	0.20×	0.25×	0.27×	0.34×	0.51×	0.64×	1.20×	1.46×	1.78×	1.22×	1.29×	0.73×	1.00×	0.97×	—
Price to sales	2.36×	1.82×	0.62×	0.26×	0.29×	0.61×	0.68×	0.63×	0.62×	1.11×	1.29×	0.93×	0.46×	0.47×	0.25×	0.26×	3.41×	—
EV / EBITDA	26.35×	(1.69×)	1.10×	0.25×	1.20×	2.78×	1.89×	3.46×	4.07×	5.49×	5.45×	5.65×	4.56×	3.68×	4.22×	3.76×	78.12×	—
EV / Sales	2.51×	(0.66×)	0.28×	0.05×	0.22×	0.90×	1.09×	1.23×	1.18×	1.68×	1.84×	1.40×	0.92×	0.88×	1.17×	1.08×	18.83×	—
Dividend yield (gross)	2.0%	30.3%	19.0%	38.3%	17.9%	5.1%	4.4%	10.9%	6.7%	4.2%	12.4%	9.0%	14.1%	6.0%	6.8%	0.0%	0.0%	—
Free cash flow yield	(19.4%)	96.8%	31.6%	88.5%	90.8%	25.4%	62.2%	10.8%	(3.2%)	2.4%	27.9%	21.4%	(8.7%)	82.3%	(35.6%)	(29.2%)	(136.6%)	—
PEG ratio	0.02×	—	0.08×	0.06×	0.09×	(0.06×)	0.05×	0.15×	0.29×	4.67×	(0.74×)	0.97×	0.67×	0.13×	0.30×	0.00×	(1.35×)	—
P/E (diluted, normalised)	10.50×	4.18×	2.60×	1.47×	2.08×	2.60×	1.62×	2.59×	3.27×	5.80×	6.27×	6.65×	4.32×	4.28×	2.56×	2.91×	73.60×	—
Price to book — 5-year average	0.44×	0.32×	0.30×	0.30×	0.37×	0.52×	0.74×	1.03×	1.22×	1.39×	1.35×	1.27×	1.08×	—	—	—	—	—
EV / EBITDA — 5-year average	1.89×	0.86×	1.40×	1.92×	2.67×	3.42×	3.87×	4.79×	5.04×	4.91×	4.67×	4.35×	4.81×	—	—	—	—	—
Dividend yield — 5-year average	16.1%	22.4%	16.5%	14.1%	8.8%	6.1%	8.0%	8.7%	9.3%	9.1%	10.1%	8.4%	7.3%	—	—	—	—	—

NPL valuation: frequently asked questions

What is NPL's P/E ratio? +

At the closing price of Rs 53.20 on 16 Oct 2026, NPL trades at a P/E of 7.6× based on EPS of Rs 7.01 (FY2026).

What is NPL's book value per share? +

Nishat Power Limited's book value per share was Rs 84.43 at the end of FY2026. The shares trade at 0.63× book value.

Information only, not investment advice.