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NTPC Ltd

NTPC NSE

Key Fundamentals

Volatility
Moderate
P/E Ratio
12.02
EBITDA
₹52,822 Cr
Return on Equity
10.6%
Debt to Equity
1.33
EPS
₹22.08
52W High
₹414.4
52W Low
₹315.55

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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47 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 34.3%

Weaknesses

4
  • The company has delivered a poor sales growth of 10.9% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.5% over last 3 years.
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
-1.82% ↘
Net Income Growth
-0.57% ↗
Cash Flow Change
25.78% ↗
ROE
-13.89% ↗
ROCE
-4.00% ↘
EBITDA Margin (Avg.)
-7.96% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk medium

NTPC Ltd is India's largest power utility with a market cap of ₹3,31,335 Cr, trading at a PE of 11.8x with a dividend yield of 1.61%. The company has delivered strong profit growth of 17% CAGR over 3 years against modest sales growth of 2% over the same period, reflecting improving operational efficiency but raising questions about revenue scalability.

Bull Case 7
  • Attractive valuation with PE of 11.8x, significantly below broader market multiples, offering a margin of safety for a large-cap utility
  • Compounded profit growth of 17% over 3 years and 16% TTM outpaces revenue growth, indicating improving margins and operational leverage
  • Consistent ROE of 14% in the last year and 14% over 3 years demonstrates stable return generation on equity capital
  • Healthy dividend payout ratio of 34.3% with a current yield of 1.61% provides regular income in a sector known for cash flow visibility
  • Stock CAGR of 24% over 5 years and 17% over 3 years shows sustained wealth creation despite being a traditionally defensive sector play
  • Price-to-book ratio of 1.65x is reasonable for a company generating 14% ROE, suggesting the stock is not excessively priced relative to book value
  • 10-year compounded profit growth of 10% and sales growth of 10% demonstrate long-term consistency in scaling the business
Bear Case 8
  • Sales growth has decelerated sharply to just 2% on a TTM and 3-year CAGR basis, down from 11% over 5 years, signaling potential demand or capacity constraints
  • ROE of 13.5% over 3 years is modest for a company of this scale, suggesting limited efficiency in deploying shareholder capital
  • Potential capitalization of interest costs may be flattering reported profits and understating true operating expenses
  • Low effective tax rate raises concerns about sustainability of current earnings if tax benefits normalize or expire
  • 1-year stock CAGR has slowed to just 2%, indicating fading momentum after the sharp rally of prior years
  • 5-year sales growth of only 10.9% is weak for a company operating in a sector benefiting from rising power demand in India
  • Divergence between profit growth (17% 3-year CAGR) and sales growth (2% 3-year CAGR) may not be sustainable without top-line improvement
  • 52-week high and low data unavailable, making it difficult to assess current price positioning relative to recent trading range

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 6
  • Record PAT up 15% YoY Aug 4

    NTPC reported record consolidated PAT of ₹27,545.76 crore for FY 2025-26, up 15% YoY, with turnover of ₹1,69,724.60 crore and net worth of ₹1,74,865.25 crore.

  • Q1FY27 profit beats estimates Jul 27

    Standalone net profit rose to ₹53.42B from ₹47.74B YoY, beating ₹47.9B estimate. EBITDA margin expanded sharply to 28.81% from 24.16%.

  • Group capacity crosses 91,080 MW Jul 29

    NTPC Green Energy added 50 MW solar in Rajasthan and 64.76 MW in Gujarat Khavda, pushing total group installed capacity to 91,080 MW with green energy at 10,786.56 MW.

  • ₹3.50 final dividend declared Jul 27

    NTPC fixed September 2, 2026 as record date for ₹3.50 per share final dividend for FY26, to be approved at the 50th AGM on August 27.

  • BRSR filed with ESG metrics Aug 4

    NTPC submitted its Business Responsibility and Sustainability Report for FY 2025-26, disclosing key ESG metrics alongside strong financial data.

  • 11 MW floating solar COD Jul 17

    THDC India declared commercial operation of 11 MWac Floating Solar Plant at Khurja STPP, contributing to NTPC group's renewable expansion.

Neutral 7
  • ₹120B NCD issuance approved Jul 24

    Board approved issuance of Non-Convertible Debentures worth up to ₹120 billion to support long-term funding requirements without equity dilution.

  • CMD tenure extended 6 months Jul 28

    Gurdeep Singh's tenure as CMD extended for six months effective August 1, 2026, approved by Ministry of Power.

  • ₹22.31 crore block trade on NSE Jul 27

    Approximately 6,36,573 shares transacted at ₹350.50 per share in a block deal worth ₹22.31 crore, indicating institutional activity.

  • 50th AGM on Aug 27 Aug 4

    NTPC scheduled its 50th Annual General Meeting for August 27, 2026 via video conferencing.

  • ED Ram Bhajan Malik retires Jul 31

    Executive Director Ram Bhajan Malik ceased office due to superannuation on July 31, 2026.

  • New independent director appointed Jul 17

    Dr. Som Nath Sachdeva appointed as Independent Director for 3 years by Ministry of Power.

  • 22nd Annual Analysts Meet held Jul 27

    NTPC held its 22nd Annual Analysts and Institutional Investors Meet in Mumbai on July 27, 2026, with audio recording published per SEBI regulations.

TL;DR: NTPC is delivering strong financial performance with record PAT up 15% and Q1FY27 beating consensus on both profit and margins. The renewable capacity build-out continues steadily with the group crossing 91,080 MW total installed capacity. No material headwinds are visible in recent news flow. The trend is firmly positive with earnings momentum, expanding margins, and consistent green energy additions supporting the growth trajectory.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
43,075
44,983
42,820
47,628
48,529
44,706
45,069
49,834
47,064
44,786
45,846
49,686
50,741
Expenses
30,664
32,303
31,458
33,638
35,091
33,041
31,729
35,080
34,485
31,970
31,276
41,181
34,510
Operating Profit
12,411
12,680
11,362
13,990
13,438
11,665
13,341
14,754
12,579
12,816
14,570
8,505
16,231
OPM %
29%
28%
27%
29%
28%
26%
30%
30%
27%
29%
32%
17%
32%
Other Income
994
1,024
2,532
1,400
1,187
3,218
986
4,180
3,241
2,734
1,738
1,918
1,549
Interest
2,922
2,921
3,250
2,955
3,136
3,621
2,764
3,648
3,468
3,432
3,164
3,737
3,386
Depreciation
3,821
4,038
4,074
4,271
4,204
4,216
4,318
4,663
4,587
4,816
5,093
5,134
5,234
PBT
6,661
6,746
6,571
8,164
7,284
7,046
7,245
10,623
7,765
7,301
8,050
1,553
9,160
Tax %
26%
30%
21%
20%
24%
24%
29%
26%
21%
28%
30%
-584%
25%
Net Profit
4,907
4,726
5,209
6,490
5,506
5,380
5,170
7,897
6,108
5,225
5,597
10,615
6,896
EPS in Rs
5.03
4.76
5.32
6.36
5.65
5.44
5.22
7.85
6.2
5.23
5.66
10.81
6.93
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
79,957
73,396
82,042
88,083
1,00,287
1,09,464
1,11,531
1,32,669
1,76,207
1,78,525
1,88,138
1,87,379
1,91,059
Expenses
62,605
54,829
60,445
65,598
77,576
77,878
77,487
92,307
1,28,611
1,27,056
1,33,783
1,34,563
1,38,937
Operating Profit
17,352
18,568
21,598
22,485
22,710
31,586
34,044
40,362
47,596
51,469
54,355
52,816
52,121
OPM %
22%
25%
26%
26%
23%
29%
31%
30%
27%
29%
29%
28%
27%
Other Income
2,338
1,188
1,592
5,576
2,818
8,209
5,021
4,809
2,561
5,177
8,526
5,284
7,938
Interest
3,669
3,366
3,753
4,447
5,605
8,189
9,224
9,376
11,447
12,301
13,282
13,801
13,719
Depreciation
5,565
5,771
6,010
7,460
8,669
10,356
12,450
13,788
14,792
16,204
17,401
19,629
20,276
PBT
10,456
10,618
13,426
16,154
11,255
21,250
17,390
22,007
23,917
28,142
32,198
24,669
26,064
Tax %
4%
-2%
20%
35%
-25%
44%
14%
23%
28%
24%
26%
-12%
—
Net Profit
9,992
10,781
10,714
10,502
14,034
11,902
14,969
16,960
17,121
21,332
23,953
27,546
28,334
EPS in Rs
10.09
10.92
10.83
10.66
13.88
11.72
15.09
17.2
17.44
21.46
24.16
27.9
28.63
Div. Payout %
21%
26%
37%
40%
44%
27%
41%
41%
42%
36%
35%
32%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
8,245
8,245
8,245
8,245
9,895
9,895
9,697
9,697
9,697
9,697
9,697
9,697
Reserves
73,849
83,330
89,593
95,318
1,01,462
1,08,945
1,16,042
1,25,677
1,37,326
1,51,013
1,74,374
1,93,479
Borrowings
1,02,252
99,424
1,13,773
1,30,049
1,73,058
2,00,630
2,10,208
2,10,707
2,22,913
2,37,131
2,50,096
2,71,005
Other Liabilities
35,366
33,666
36,990
48,880
62,509
58,202
62,075
69,751
77,253
81,437
89,330
84,463
Total Liabilities
2,19,712
2,24,665
2,48,601
2,82,492
3,46,923
3,77,671
3,98,022
4,15,831
4,47,189
4,79,278
5,23,497
5,58,644
Fixed Assets
91,853
92,929
1,04,532
1,28,245
1,50,985
1,87,803
2,03,245
2,24,923
2,40,424
2,58,934
2,71,437
3,18,821
CWIP
67,555
75,046
86,896
83,386
1,18,397
98,508
97,506
91,126
89,179
87,664
1,00,859
84,833
Investments
1,902
6,473
7,614
8,876
8,132
9,307
10,589
10,626
13,935
15,885
19,704
24,180
Other Assets
58,403
50,217
49,560
61,985
69,409
82,053
86,681
89,156
1,03,651
1,16,795
1,31,498
1,30,810
Total Assets
2,19,712
2,24,665
2,48,601
2,82,492
3,46,923
3,77,671
3,98,022
4,15,831
4,47,189
4,79,278
5,23,497
5,58,644
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
14,889
24,125
20,167
19,670
18,686
24,583
32,444
41,788
47,152
40,099
50,436
50,902
Investing
-15,977
-19,162
-24,480
-20,678
-24,063
-30,322
-21,034
-22,891
-26,145
-31,456
-45,800
-37,578
Financing
-1,474
-3,899
3,138
1,028
4,927
6,004
-11,049
-19,172
-21,217
-8,246
-4,073
-11,328
Net Cash Flow
-2,563
1,064
-1,176
19
-451
266
360
-274
-210
398
563
1,995
Free Cash Flow
-4,431
3,110
-4,161
912
-2,842
6,521
9,162
17,457
22,432
9,358
9,431
6,895
CFO/OP
97
137
106
79
98
89
104
109
108
85
101
103
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
42
41
40
37
45
68
92
77
62
68
67
71
Cash Conversion Cycle
42
41
40
37
45
68
92
77
62
68
67
71
Working Capital Days
-47
-39
-52
-44
-106
-35
-61
-62
-43
-45
-38
-55
ROCE %
8%
7%
9%
9%
7%
10%
9%
9%
10%
10%
11%
8%

Shareholding Pattern

As of Jun 2026
Promoters 51.10%
DIIs 29.44%
FIIs 16.30%
Public 3.14%
Total 99.98%
  Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
51.10%
FIIs
16.69%
17.05%
17.86%
17.68%
18.60%
18.20%
17.79%
16.09%
16.40%
16.24%
16.54%
16.30%
DIIs
29.02%
28.70%
27.55%
27.55%
26.51%
26.76%
27.22%
28.92%
28.93%
29.19%
29.13%
29.44%
Government
0.10%
0.10%
0.11%
0.11%
0.11%
0.11%
0.11%
0.12%
0.12%
0.12%
0.12%
0.00%
Public
3.08%
3.04%
3.37%
3.55%
3.68%
3.83%
3.77%
3.77%
3.45%
3.34%
3.10%
3.14%
No. of Shareholders
10,66,543
11,58,992
13,93,480
17,67,138
35,74,828
43,65,786
41,43,175
39,65,860
37,29,617
35,43,434
33,00,179
32,01,112

Documents

1
Concall - Jul 2026 Jul 2026
2
Concall - Aug 2017 Aug 2017
3
Concall - Aug 2018 Aug 2018
4
Concall - Aug 2019 Aug 2019
5
Concall - Aug 2020 Aug 2020

Frequently Asked Questions about NTPC Ltd

What does NTPC Ltd do?
NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates & JVs is primarily involved in generation and sale of bulk power to State power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas ...
Where is NTPC Ltd (NTPC) listed?
NTPC Ltd is listed on the Indian stock exchanges. It is listed on NSE: NTPC and BSE: 532555. You can view its live share price, financials, and ratios on Tapetide.
Which sector does NTPC Ltd belong to?
NTPC Ltd operates in the Power sector within the Power Generation industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the PE ratio of NTPC Ltd?
The Price-to-Earnings (PE) ratio of NTPC Ltd is 12.02. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of NTPC Ltd?
Over the past 52 weeks, NTPC Ltd has traded between a low of ₹315.55 and a high of ₹414.4. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of NTPC Ltd?
NTPC Ltd has a Return on Equity (ROE) of 10.60%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research NTPC Ltd on Tapetide?
On Tapetide, you can view NTPC Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates & JVs is primarily involved in generation and sale of bulk power to State power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.[1]

Website ntpc.co.in
CEO Mr. Gurdeep Singh
Employees 16,646
Listed 2004-11-05
Face Value ₹ 10
Issued Size 9,69,66,66,134

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