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NHPC Limited — Bonds & AAA (India Ratings) Rating

PSU · Power & Energy

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Methodology v1.0 Download Report (PDF) Watch
Agency Rating
AAA (India Ratings)
Most common current rating on senior bonds
58 of 58 rated · India Ratings, 30 Jun 2026
Total Debt Outstanding
₹22,994 Cr
Across 95 instruments
Active Bonds
95
First Issue
12 Mar 2012
Latest Issue
29 May 2026
Maturity Range
2026 - 2041
Observation
95 active bonds tracked from this issuer.
View details →
Coverage: High Data Quality: High Sources: NSE, BSE, SEBI, rating agencies
Issuer health card Nothing flagged on record
  • Current ratings India Ratings AAA, CARE AAA, ICRA AAA
  • Rating range All current ratings are AAA (CARE 28 Jun 2026, ICRA 31 Jan 2020, India Ratings 30 Jun 2026)
  • Rating direction, 12 months No rating actions on file
  • Watch / negative outlook None in 12 months
  • Issuer not cooperating No such actions in 12 months
  • Rating withdrawn, 12 months No withdrawal of this issuer's rating in 12 months
  • Newest agency rating Dated 30 Jun 2026
  • Payment record 7 payment disclosures since 17 Jul 2026: all on time
  • Defaults on record No bond marked defaulted
  • Traded in the last 30 days 9 of 95 active bonds had an exchange trade
  • Exchange filings, 90 days 34 filings on NSE/BSE

A checklist of published facts, not a rating or a view on credit quality. Ratings are the agencies' own; payment record covers NSE disclosures since 17 Jul 2026; "late" means paid more than 3 days after the due date (next-working-day payments are allowed). Rating range covers every current rating on the issuer's active bonds, with each agency's rating date. Rating actions count only when the agency's heading names this issuer, not pools or trusts it originated; a withdrawal is flagged only when the issuer's rating itself is withdrawn, not a single facility. Rating age uses the newest rating date on file and is flagged when older than 12 months. See methodology.

Alert me about NHPC Limited An email when a rating agency acts on this issuer (including any cut to default grade D) or a payment is disclosed late or short. Free, no account needed.
01 Issuer Overview
Sector
Power & Energy
Issuer Type
PSU
First Tracked Bond
12 Mar 2012
Start of this issuer's debt program timeline
  • 95 active bonds tracked from this issuer.
  • 40 of 85 tracked bonds with a stated security status are secured. (based on 85 bonds with a disclosed security status)

Operating in the Power & Energy sector, NHPC Limited is classified as a public sector undertaking (PSU). Bond coupons here span 6.40% - 9.25%, paid annually. The maturity ladder spans 2026 - 2041.

Data sourced from NSDL, BSE, NSE, and registered credit rating agencies. Verify against the issuer's offer document before transacting.

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02 Debt Profile
Outstanding Bonds
95
Tracked by RetailBonds
Amount Tracked
₹22,994 Cr
Of bonds tracked by RetailBonds — not the issuer's total outstanding debt
Avg Coupon
7.51%
Range 6.40% - 9.25%
Avg Remaining Tenure
5.3 Yrs
Nearest maturity Nov 2026
Secured
47%
40 of 85 bonds with known status
Callable
0
Of 95 bonds
Avg Spread vs G-Sec
+90 bps
Credit premium, from 1 bond with a current market yield

Maturity Profile

Active bonds maturing, by year. Bar height relative to the tallest year (15 bonds).

0 2026: 1 bond, ₹55 Cr tracked, avg coupon 8.54% 1 2026 2027: 15 bonds, ₹4,032 Cr tracked, avg coupon 7.69% 15 2027 2028: 12 bonds, ₹1,749 Cr tracked, avg coupon 7.77% 12 2028 2029: 11 bonds, ₹4,664 Cr tracked, avg coupon 7.63% 11 2029 2030: 7 bonds, ₹1,006 Cr tracked, avg coupon 7.31% 7 2030 2031: 5 bonds, ₹1,328 Cr tracked, avg coupon 7.54% 5 2031 2032: 5 bonds, ₹828 Cr tracked, avg coupon 7.25% 5 2032 2033: 7 bonds, ₹1,417 Cr tracked, avg coupon 7.69% 7 2033 2034: 5 bonds, ₹828 Cr tracked, avg coupon 7.25% 5 2034 2035: 6 bonds, ₹3,316 Cr tracked, avg coupon 7.25% 6 2035 2036: 5 bonds, ₹828 Cr tracked, avg coupon 7.25% 5 2036 2037: 4 bonds, ₹678 Cr tracked, avg coupon 7.35% 4 2037 2038: 4 bonds, ₹678 Cr tracked, avg coupon 7.35% 4 2038 2039: 3 bonds, ₹594 Cr tracked, avg coupon 7.27% 3 2039 2040: 3 bonds, ₹594 Cr tracked, avg coupon 7.27% 3 2040 2041: 2 bonds, ₹400 Cr tracked, avg coupon 7.48% 2 2041

Security Type / Instrument Mix

  • NCD 95 bonds · 100% · ₹22,994 Cr tracked

Funding Evolution

■ Issued that year — Cumulative outstanding (tracked)
2012: ₹106 Cr issued 2012 2013: ₹1,099 Cr issued 2013 2014: ₹220 Cr issued 2014 2015: ₹492 Cr issued 2015 2016: ₹900 Cr issued 2016 2017: ₹445 Cr issued 2017 2019: ₹4,203 Cr issued 2019 2020: ₹2,600 Cr issued 2020 2021: ₹1,500 Cr issued 2021 2023: ₹996 Cr issued 2023 2025: ₹6,434 Cr issued 2025 2026: ₹4,000 Cr issued 2026 Cumulative: ₹106 Cr Cumulative: ₹1,204 Cr Cumulative: ₹1,424 Cr Cumulative: ₹1,916 Cr Cumulative: ₹2,816 Cr Cumulative: ₹3,261 Cr Cumulative: ₹7,464 Cr Cumulative: ₹10,064 Cr Cumulative: ₹11,564 Cr Cumulative: ₹12,560 Cr Cumulative: ₹18,994 Cr Cumulative: ₹22,994 Cr

Based on 95 of 95 active bonds with a known issue date and issue size.

Financial Snapshot

Q1 FY27
Debt / Equity
0.01
 
Debt Service Coverage (DSCR)
0.02
 
Interest Service Coverage (ISCR)
0.03
 
Total Financial Indebtedness
₹47,434.94 Cr
 
Unlisted Debt Securities Outstanding
₹0.00 Cr
 
Defaults on Unlisted Debt Securities
₹0.00 Cr
 
Revenue from Operations
₹3,537.04 Cr
 
Net Profit / Loss
₹1,113.41 Cr
 
Profit Before Tax
₹1,190.98 Cr
 

As filed under SEBI LODR Reg 52(4) / Integrated Filing, filed 4 Aug 2026. Figures are reported facts, not a rating or recommendation.

03 Credit Profile
  • AAA 95 bonds · 100%
AgencyRatingOutlookBonds
India Ratings AAA Stable 34
CARE AAA — 26
ICRA AAA — 1
India Ratings AAA — 1
India Ratings AAA NSDL record — 16
CARE AAA NSDL record — 14
ICRA AAA NSDL record — 7

Recent Rating Actions

No rating action history available.

04 Outstanding Bonds View all bonds →
ISIN Bond Name Coupon Rating Maturity YTM Last Trade Details
INE848E07757 NHPC 8.54% Nov 2026 NCD 8.54% AAA (CARE, NSDL record 2014) 2026-11-26 — —
INE848E07AU1 NHPC 7.38% Jan 2027 NCD 7.38% AAA (ICRA) 2027-01-02 — —
INE848E07AZ0 NHPC 7.13% Feb 2027 NCD 7.13% AAA (CARE) 2027-02-11 — —
INE848E07385 NHPC 8.85% Feb 2027 NCD 8.85% AAA (India Ratings, NSDL record 2013) 2027-02-11 — —
INE848E07476 NHPC 8.78% Feb 2027 NCD 8.78% AAA (India Ratings, NSDL record 2013) 2027-02-11 — —
INE848E07BO2 NHPC 6.86% Feb 2027 NCD 6.86% AAA (India Ratings) 2027-02-12 — —
INE848E08250 NHPC 7.59% Feb 2027 NCD 7.59% AAA (India Ratings, NSDL record 2023) 2027-02-20 — —
INE848E07BE3 NHPC 6.89% Mar 2027 NCD 6.89% AAA (CARE) 2027-03-11 — —
INE848E07161 NHPC 9.25% Mar 2027 NCD 9.25% AAA (India Ratings, NSDL record 2013) 2027-03-12 — —
INE848E07BK0 NHPC 6.80% Apr 2027 NCD 6.80% AAA (CARE) 2027-04-23 — —
INE848E07AC9 NHPC 7.52% Jun 2027 NCD 7.52% AAA (India Ratings, NSDL record 2017) 2027-06-06 — 2026-07-13
INE848E07872 NHPC 8.50% Jul 2027 NCD 8.50% AAA (India Ratings, NSDL record 2015) 2027-07-14 — —
INE848E08375 NHPC 6.40% Aug 2027 NCD 6.40% AAA (India Ratings) 2027-08-12 — 2026-07-22
INE848E07AM8 NHPC 7.35% Sep 2027 NCD 7.35% AAA (ICRA, NSDL record 2017) 2027-09-15 — 2026-07-13
INE848E07AQ9 NHPC 7.50% Oct 2027 NCD 7.50% AAA (ICRA, NSDL record 2019) 2027-10-07 — —
INE848E07765 NHPC 8.54% Nov 2027 NCD 8.54% AAA (CARE, NSDL record 2014) 2027-11-26 — —
INE848E07AV9 NHPC 7.38% Jan 2028 NCD 7.38% AAA (India Ratings) 2028-01-03 — —
INE848E07BP9 NHPC 6.86% Feb 2028 NCD 6.86% AAA (India Ratings) 2028-02-11 — —
INE848E07BA1 NHPC 7.13% Feb 2028 NCD 7.13% AAA (CARE) 2028-02-11 — —
INE848E07484 NHPC 8.78% Feb 2028 NCD 8.78% AAA (ICRA, NSDL record 2013) 2028-02-11 — —
INE848E08243 NHPC 7.59% Feb 2028 NCD 7.59% AAA (India Ratings, NSDL record 2023) 2028-02-19 — —
INE848E07BG8 NHPC 6.89% Mar 2028 NCD 6.89% AAA (CARE) 2028-03-10 — —
INE848E07BL8 NHPC 6.80% Apr 2028 NCD 6.80% AAA (CARE) 2028-04-24 — —
INE848E07880 NHPC 8.50% Jul 2028 NCD 8.50% AAA (CARE, NSDL record 2015) 2028-07-14 — —
INE848E07AR7 NHPC 7.50% Oct 2028 NCD 7.50% AAA (India Ratings, NSDL record 2019) 2028-10-07 — —
INE848E07526 NHPC 8.54% Nov 2028 NCD Tax-free 8.54% AAA (CARE, NSDL record 2013) 2028-11-02 5.19% 2026-10-27
INE848E07559 NHPC 8.79% Nov 2028 NCD Tax-free 8.79% AAA (ICRA, NSDL record 2013) 2028-11-02 5.38% 2026-10-27
INE848E07773 NHPC 8.54% Nov 2028 NCD 8.54% AAA (India Ratings, NSDL record 2014) 2028-11-26 — —
INE848E07AW7 NHPC 7.38% Jan 2029 NCD 7.38% AAA (India Ratings) 2029-01-03 — —
INE848E07AN6 NHPC 8.65% Feb 2029 NCD 8.65% AAA (India Ratings, NSDL record 2019) 2029-02-08 — —
INE848E07BB9 NHPC 7.13% Feb 2029 NCD 7.13% AAA (CARE) 2029-02-09 — —
INE848E07BQ7 NHPC 6.86% Feb 2029 NCD 6.86% AAA (India Ratings) 2029-02-12 — —
INE848E08235 NHPC 7.59% Feb 2029 NCD 7.59% AAA (CARE, NSDL record 2023) 2029-02-20 — —
INE848E07BH6 NHPC 6.89% Mar 2029 NCD 6.89% AAA (CARE) 2029-03-09 — —
INE848E08136 NHPC 8.12% Mar 2029 NCD 8.12% AAA (CARE, NSDL record 2019) 2029-03-22 — —
INE848E07BM6 NHPC 6.80% Apr 2029 NCD 6.80% AAA (CARE) 2029-04-24 — —
INE848E07898 NHPC 8.50% Jul 2029 NCD 8.50% AAA (India Ratings, NSDL record 2015) 2029-07-14 — —
INE848E07AS5 NHPC 7.50% Oct 2029 NCD 7.50% AAA (ICRA, NSDL record 2019) 2029-10-06 — —
INE848E07781 NHPC 8.54% Nov 2029 NCD 8.54% AAA (India Ratings, NSDL record 2014) 2029-11-26 — —
INE848E07AX5 NHPC 7.38% Jan 2030 NCD 7.38% AAA (India Ratings) 2030-01-03 — —
INE848E07BC7 NHPC 7.13% Feb 2030 NCD 7.13% AAA (CARE) 2030-02-11 — —
INE848E07BR5 NHPC 6.86% Feb 2030 NCD 6.86% AAA (India Ratings) 2030-02-12 — —
INE848E08227 NHPC 7.59% Feb 2030 NCD 7.59% AAA (CARE, NSDL record 2023) 2030-02-20 7.99% 2026-11-03
INE848E07BI4 NHPC 6.89% Mar 2030 NCD 6.89% AAA (CARE) 2030-03-11 — —
INE848E07BN4 NHPC 6.80% Apr 2030 NCD 6.80% AAA (CARE) 2030-04-24 — —
INE848E07906 NHPC 8.50% Jul 2030 NCD 8.50% AAA (CARE, NSDL record 2015) 2030-07-14 — —
INE848E07BS3 NHPC 6.86% Feb 2031 NCD 6.86% AAA (India Ratings) 2031-02-12 — —
INE848E08219 NHPC 7.59% Feb 2031 NCD 7.59% AAA (CARE, NSDL record 2023) 2031-02-20 — —
INE848E08367 NHPC 6.86% May 2031 NCD 6.86% AAA (CARE) 2031-05-06 — —
INE848E07914 NHPC 8.24% Jun 2031 NCD 8.24% AAA (India Ratings, NSDL record 2016) 2031-06-27 — —
Compare (/) Compare Bonds

YTM is the market yield from the latest BSE/NSE trade. It shows “—” when that trade is over 30 days old, the bond is under 30 days from maturity, it is a market-linked debenture, or the price failed our checks (hover the dash for the reason). A coupon is never shown as a yield.

More bonds from this issuer (45)
05 Market Activity

Last 30 days, across all outstanding bonds from this issuer.

BSE Traded Value (Last 30 Days)
₹20.07 L
Number of Trades (Last 30 Days)
35
Avg. Yield (Last 30 Days)
6.53%
06 Payment Disclosures (SEBI Reg52(4)) 5 disclosed

Interest and redemption payments as broadcast by NSE under SEBI LODR Reg 52(4)/60, across all outstanding bonds from this issuer -- actual disclosed events, not a projected schedule.

Due DateBondTypeAmount DueAmount PaidStatusFiling
7 Oct 2026 7.50% SECURED RATED LISTED... Interest ₹22,50,00,000.00 ₹22,50,00,000.00 Paid XBRL →
7 Oct 2026 7.50% SECURED RATED LISTED... Interest ₹22,50,00,000.00 ₹22,50,00,000.00 Paid XBRL →
7 Oct 2026 7.50% SECURED RATED LISTED... Interest ₹22,50,00,000.00 ₹22,50,00,000.00 Paid XBRL →
22 Sep 2026 8.12% UNSECURED LISTED REDEEMABLE... Interest ₹82,57,00,000.00 ₹82,57,00,000.00 Paid XBRL →
12 Aug 2026 NHPCL-6.40%-12-8-27-PVT Interest ₹1,28,00,00,000.00 ₹1,28,00,00,000.00 Paid XBRL →

Source: NSE Debt Centralised Database, per SEBI LODR Reg 52(4)/60. Coverage begins 2 Aug 2026 — history accumulates as disclosures are broadcast.

07 Regulatory Filings
BSE Corporate Announcements
08 Methodology & Data Coverage
DatasetCountFreshness
Credit Ratings (current) 99 2026-06-30
Rating Actions History 0 —
Secondary-Market Trades 115 2026-11-06
Reg52(4) Payment Disclosures 5 2026-10-07

Methodology version 1.0. See full methodology for sources and limitations.

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Frequently Asked Questions
How many active bonds does NHPC Limited have?

NHPC Limited currently has 95 active bonds with coupons of 6.40% - 9.25%, maturities spanning 2026 - 2041.

What is NHPC Limited's credit rating?

The most common current rating on NHPC Limited's senior bonds is AAA (India Ratings). Ratings on file come from CARE, ICRA, India Ratings.

Are NHPC Limited's bonds secured?

Of the 85 bonds with a disclosed security status, 40 are secured (47%) and 45 are unsecured.

When do NHPC Limited's bonds mature?

NHPC Limited's active bonds mature between 2026 - 2041; the nearest matures in Nov 2026; the average tenure is 5.3 Yrs.

What is the average coupon on NHPC Limited's bonds?

The average coupon across NHPC Limited's 95 active bonds is 7.51%.

Disclaimer: This page aggregates publicly available data about NHPC Limited for informational purposes only. Ratings shown are the opinion of the issuing rating agency and are not buy/sell recommendations. RetailBonds.in does not issue its own ratings or investment advice. Verify all data against the issuer’s offer document before transacting.