Research & Analysis
Our Research
Fundamental analysis of Nepal's industries and companies. Each sector starts with an industry overview, followed by individual company deep-dives.
5 of 43 reports
Company Research
4 reportsCEDB Holdings Limited (NEPSE: CHDC) — Investment Report
CEDB Holdings is a leveraged closed-end fund of NEPSE hydro shares plus pre-cash-flow hydro subsidiaries, trading at roughly 4.85 times its own marked-up group book value — a structure, not a growth franchise.
Citizen Investment Trust (NEPSE: CIT) — Company Profile
Citizen Investment Trust is Nepal's only listed pension fund manager with NPR 266.7 billion in scheme AUM across seven off-balance-sheet retirement funds. Central account EPS is NPR 19.38 and falling (−15.8% from peak) while SSF grew from 1 million to 3 million contributors in a year — the competitive and valuation context is the story.
HIDCL — Nepal's Hydropower Development Finance Institution
Hydroelectricity Investment and Development Company Limited is Nepal's only purpose-built development finance institution for hydropower — carrying Rs 6,164 crore in committed project exposure across 4,210 MW. The business model is real, but disbursement chronically lags commitment, more than half of assets sit in bank deposits, and FY 81/82 earnings fell 36% as deposit rates collapsed.
NIFRA — Nepal's Sole Infrastructure Development Bank
Nepal Infrastructure Bank Limited is the only NRB-licensed infrastructure development bank in Nepal — a unique franchise financing hydro, solar, hospitals, and tourism projects across a Rs 25.6 billion loan book with near-zero NPL. FY 81/82 saw the bank's first green bond and a 64% balance sheet expansion. NIM compression from the green bond negative carry is the central analytical question heading into FY 82/83.