NISHAT CMUNIA•N POWSR LI1RI'?ED
NCPL-PSX/ November 24, 2025
The General Manager,
Pakistan Stock Exchange Ltd (PSX), Stock Exchange Building,
Stock Exchange Road, KARACHI.
Subject: Holding of Corporate Briefing Session of Nishat Chunian Power Ltd. FY 2025
in Compliance with the requirements of Clause 5.7.3 of the Rule Book Submission of Presentation for CBS 2025
Dear Sir,
In continuation of our letter No. NCPL-PSX/ dated November 20, 2025 for holding of Corporate Briefing Session (CBS) ofNishat Chunian Power Limited ("the Company") on November 25, 2025 at 11:30 a.m. through Zoom, we are pleased to submit herewith Presentation for the said CBS for information of all concerned.
You may please circulate the same to all concerned. Yours' sincerely,
!
Khalid Mahmood Chqhan
Head of Corpora ffairs
CORPORATE BRIEFING
FINANCIAL YEAR 2025
ABOUT COMPANY
Our History
Our Technology
Gross Capacity | 200.00 MW |
Net Capacity | 195.722 MW |
Number of Wartsila Finland 18V46 Engines | 11 |
Number of PB Steam Turbine | 1 |
Gross Capacity - Engine | 16.9 MW |
Gross Capacity - Steam Turbine | 14.0 MW |
Engine Type | W18V46C |
Generator Type | Converteam/ABB |
Rated Voltage - Generator | 15kV |
Fuel | Residual Furnace Oil (RFO) |
Amendment Agreement
Key Terms
GOP WITHDRAWS
ARBITRATION
The Government of
Pakistan unconditionally withdraws Arbitration under ASA for excess profits dispute
PAYMENT OF
OUTSTANDING RECEIVABLES
Payment of receivables
as at Oct 31, 2024 amounting to PKR 6.6 billion
DEDUCTION OF
PRIOR YEAR EARNING
CPPA-G to deduct prior
year earnings for Fuel &
O&M
WAIVER OF OUTSTANDING DP
Outstanding and Accrued DP Upto 31stOctober 2024 has been waived
TARIFF REVISION
Converted to a Hybrid
take and pay model. Delay Payment (DP) rate reduced.
REVOCATION OF INT. ARBITRATION CLAUSE
LCIA Arbitration is clause has been replaced with Arbitration under local law.
CREATION OF MAINTAINENCE RESERVES
The company to create a reserve for maintainence and overhauls
PARTICIPATION IN
POWER MARKET
Participation is at the
discretion of the Power Purchaser, in consultation with the company
DP rate reduced
to 3 Months
KIBOR +1%
without any compounding.
Foreign O&M
indexation with USD has been capped at 70% in case of PKR depreciation
Local O&M
indexation is capped at lower of 5% or actual NCPI
Insurance
Premium is capped at 0.9% of EPC
Effective
from 1stNovember 2024
Fixed O&M
Components reduced by 5%
Tariff Changes agreed in the Amendment Agreement with Task Force
ROE & ROEDC
components are now on hybrid "take and pay"
mode
Working Capital Component has been rebased
FINANCIAL PERFORMANCEStatement of Profit or Loss
2025 | 2024 | Variance | |
Rupees in Thousands | % | ||
Revenue | 5,566,149 | 15,215,087 | (9,648,938) | -63% |
Cost of Sales | (3,409,627) | (10,327,050) | 6,917,423 | -67% |
Gross Profit | 2,156,522 | 4,888,037 | (2,731,515) | -56% |
Administrative Expenses | (355,115) | (189,272) | (165,843) | 88% |
Other Expenses | (71,220) | (6,217) | (65,003) | 1046% |
Profit From Operations | 1,730,187 | 4,692,548 | (2,962,361) | -63% |
Other Income | 856,762 | 455,373 | 401,389 | 88% |
Finance Cost | (14,682) | (227,659) | 212,977 | -94% |
Adjustments under AA | (5,713,295) | - | (5,713,295) | - |
Levy & Taxation | (234,892) | (7,950) | (226,942) | 2855% |
Net (Loss)/ Profit | (3,375,920) | 4,912,312 | (8,288,232) | -169% |
NP Margin | -61% | 32% | -93% | |
(Loss)/Earning per share | (9.19) | 13.37 | (23) | -169% |
Generation (MWH) | 57,209 | 240,447 | (183,238) -76% | |
Capacity Factor | 3.34% | 13.99% | -11% | |
*Total Adjustments of PKR 5.7 bln include PKR 3.2 bln in respect of fuel & O&M savings and PKR 2.4 bln on account of DP waiver, both pertain to prior years
Statement of Financial Position
2025 | 2024 | Variance | |
Rupees in Thousands | % | ||
2025 | 2024 | Variance | |
Rupees in Thousands | % | ||
Share Capital & Reserves | ||||
Paid-up share capital | 3,673,469 | 3,673,469 | - | 0% |
Un-appropriated profit | 14,044,086 | 25,500,900 | (11,456,814) | (45%) |
Overhauling reserve | 5,509,465 | - | 5,509,465 | - |
Assets
Non-Current Assets | ||||
PPE | 8,586,836 | 9,120,118 | (533,282) | (6%) |
Intangible assets | - | - | - | - |
Loans to employees | 411 | - | 411 | - |
Security deposit | 128 | 100 | 28 | 28% |
23,227,020 29,174,369 (5,947,349) (20%)
-
Liabilities
Non-Current Liability - - - -
307,205 | 2,653,700 | (2,346,495) | (88%) |
237 | 1,439 | (1,202) | (84%) |
749,746 | 123,281 | 626,465 | 508% |
48,046 | 33,900 | 14,146 | 42% |
854,570 | 848,344 | 6,226 | 1% |
917,655 | 2,298,214 | (1,380,559) | (60%) |
1,464,169 | 13,170,211 | (11,706,042) | (89%) |
538,083 | 1,872,427 | (1,334,344) | (71%) |
38,136 | 77,046 | (38,910) | (51%) |
11,806,597 | 2,883,975 | 8,922,622 | 309% |
125,669 | 1,716,254 | (1,590,585) | (93%) |
Current Liabilities Current Assets
8,587,375 9,120,218 (532,843) (6%)
Trade and other payables Accrued mark-up / profit Short term borrowings Unclaimed dividend
Stores and spares Inventories Trade debts
Advances & Prepayments
1,105,234 2,812,320 (1,707,086) (61%) Advance income tax & levy
Short term investments
Contingencies - - - - Cash and bank balances
15,744,879 22,866,471 (7,121,592) (31%)
Total Assets 24,332,254 31,986,689 (7,654,435) (24%)
Total Equity & Liabilities 24,332,254 31,986,689 (7,654,435) (24%)
Units Dispatched (GWh) | |||||||||||||
Month | July | August | September | October | November | December | January | February | March | April | May | June | Total |
2024-2025 | 7,627 | - | 428 | - | - | 395 | 11,890 | - | 423 | 18,318 | 1,350 | 16,778 | 57,209 |
2023-2024 | 37,158 | 84,533 | 22,749 | - | - | 7,958 | 51,819 | - | - | - | 2,499 | 33,731 | 240,447 |
90,000
80,000
70,000
60,000
50,000
40,000
30,000
20,000
10,000
-
Energy Dispatch (GWh)UNITS DISPATCHED (GWh)
July August September October November December January February March April May June
INDUSTRIAL DATA
Source: NEPRA STATE OF INDUSTRY REPORT 23-24
Circular Debt - Transmission, Distribution and Recovery Losses
18.86%
2.76%
17.96%
2.78%
17.14%
2.62%
7.56%
18.26%
2.52%
2023-2024
6.61%
16.77%
2.42%
2022-2023
9.49%
2021-2022
2.70%
2020-2021
11.23%
2019-2020
0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%
Source: NEPRA's State of Industry Report
FUTURE OUTLOOK
THANK YOU