External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Hub Power Company (HUBC) held its corporate briefing today to discuss FY25 financial result and future outlook.</li><li>The company is confident that its two Thar-based plants, TEL and ThalNova, will declare their maiden dividend in 2H2025.</li><li>We have a BUY recommendation on the company as it is trading at FY26/27 PE of 4.2/3.0 and dividend yield of 10%/11%.</li></ul>

Hub Power Company (HUBC) held its corporate briefing today to discuss FY25 financial result and future outlook.The company is confident that its two Thar-based plants, TEL and ThalNova, will declare their maiden dividend in 2H2025.We have a BUY recommendation on the company as it is trading at FY26/27 PE of 4.2/3.0 and dividend yield of 10%/11%.

Topline Flash Note: Hub Power Company (HUBC): Corporate Briefing Key Takeaways