NTPC Ltd

About [ edit ]

NTPC is primarily involved in the generation and sale of bulk power to State Power Utilities. Other business includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.(Source : 201903 Annual Report Page No: 169)

  • Market Cap 97,548 Cr.
  • Current Price 101
  • High / Low 115 / 78.1
  • Stock P/E 8.51
  • Book Value 120
  • Dividend Yield 3.13 %
  • ROCE 11.7 %
  • ROE 10.6 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.84 times its book value
  • Company has been maintaining a healthy dividend payout of 40.95%

Cons

  • The company has delivered a poor sales growth of 6.11% over past five years.
  • Company has a low return on equity of 11.82% for last 3 years.
  • Company might be capitalizing the interest cost
  • Debtor days have increased from 41.92 to 58.53 days.
  • Promoter holding has decreased over last 3 years: -11.17%
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
23,100 22,704 22,261 24,120 21,222 24,193 22,765 23,496 27,247 23,453 24,677 24,509
17,190 16,749 16,669 17,540 22,954 17,740 16,418 16,520 19,929 15,708 17,494 17,142
Operating Profit 5,910 5,955 5,592 6,580 -1,732 6,452 6,346 6,976 7,318 7,745 7,183 7,367
OPM % 26% 26% 25% 27% -8% 27% 28% 30% 27% 33% 29% 30%
Other Income 1,043 1,054 1,379 650 1,323 837 1,761 2,124 2,884 568 1,133 1,682
Interest 1,104 1,220 1,294 1,277 926 1,565 1,619 1,761 1,837 2,083 1,773 2,009
Depreciation 1,935 1,860 1,888 2,001 1,505 2,051 2,123 2,320 2,129 2,530 2,529 2,555
Profit before tax 3,914 3,929 3,789 3,952 -2,839 3,673 4,365 5,020 6,236 3,700 4,014 4,484
Tax % 25% 34% 36% 40% 253% 29% 25% 40% 80% 33% 13% 26%
Net Profit 2,926 2,588 2,426 2,385 4,350 2,603 3,262 2,995 1,252 2,470 3,505 3,315
EPS in Rs 2.96 2.62 2.45 2.41 4.40 2.63 3.30 3.03 1.27 2.50 3.54 3.42

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
41,975 46,378 54,351 61,419 65,180 71,459 72,634 70,844 78,273 83,453 90,307 97,700 99,887
31,566 34,009 40,737 47,503 48,149 53,656 56,733 52,866 56,918 58,596 71,266 65,762 70,273
Operating Profit 10,409 12,369 13,615 13,916 17,030 17,803 15,901 17,978 21,356 24,856 19,041 31,938 29,613
OPM % 25% 27% 25% 23% 26% 25% 22% 25% 27% 30% 21% 33% 30%
Other Income 3,312 2,976 2,348 2,916 4,878 2,709 2,399 1,136 316 1,839 1,761 2,779 6,266
Interest 1,996 1,809 1,428 1,715 1,933 2,466 2,842 3,346 3,699 3,996 4,717 6,799 7,702
Depreciation 2,364 2,650 2,486 2,792 3,397 4,142 4,912 5,172 5,921 7,099 7,254 8,623 9,744
Profit before tax 9,360 10,885 12,050 12,326 16,579 13,905 10,547 10,596 12,052 15,600 8,831 19,295 18,434
Tax % 12% 20% 24% 25% 24% 21% 2% -2% 22% 34% -33% 48%
Net Profit 8,201 8,728 9,103 9,224 12,619 10,975 10,291 10,770 9,385 10,343 11,750 10,113 10,543
EPS in Rs 8.29 8.82 9.20 9.32 12.75 11.09 10.40 10.88 9.49 10.45 11.88 10.22 10.73
Dividend Payout % 36% 36% 34% 36% 38% 43% 20% 26% 42% 41% 51% 31%
Compounded Sales Growth
10 Years:8%
5 Years:6%
3 Years:8%
TTM:9%
Compounded Profit Growth
10 Years:3%
5 Years:3%
3 Years:5%
TTM:-13%
Stock Price CAGR
10 Years:-4%
5 Years:-3%
3 Years:-11%
1 Year:13%
Return on Equity
10 Years:12%
5 Years:12%
3 Years:12%
Last Year:11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
8,246 8,245 8,245 8,245 8,245 8,245 8,245 8,245 8,245 8,245 9,895 9,895 9,895
Reserves 49,125 54,192 59,647 65,046 72,142 77,570 73,412 83,048 87,986 93,532 97,514 103,675 106,917
Borrowings 34,568 37,797 43,188 50,279 58,146 67,170 85,995 93,127 106,840 121,605 142,807 166,743 163,333
13,336 12,690 14,659 17,261 22,647 26,641 29,568 30,810 33,609 44,579 40,787 47,526 65,511
Total Liabilities 105,274 112,924 125,739 140,831 161,180 179,627 197,220 215,231 236,680 267,962 291,002 327,838 345,655
32,938 34,761 39,236 45,256 62,936 72,111 78,849 91,773 99,356 119,759 125,621 156,811 156,766
CWIP 26,405 32,104 35,495 41,828 37,109 44,889 56,493 66,423 80,737 79,076 91,207 73,359 75,136
Investments 13,984 14,807 12,345 11,206 10,760 9,758 9,032 8,393 8,248 10,047 13,146 26,401 26,913
31,948 31,251 38,663 42,540 50,375 52,869 52,846 48,642 48,339 59,079 61,029 71,266 86,841
Total Assets 105,274 112,924 125,739 140,831 161,180 179,627 197,220 215,231 236,680 267,962 291,002 327,838 345,655

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
9,688 10,611 11,085 10,710 15,495 15,732 14,235 23,987 20,014 19,250 16,157 22,014
-7,500 -10,514 -7,656 -7,881 -14,017 -13,980 -14,563 -18,346 -24,414 -20,390 -20,894 -27,677
-849 -1,909 -1,704 -2,869 -752 -3,309 -1,878 -4,550 3,185 1,043 4,701 5,659
Net Cash Flow 1,338 -1,812 1,726 -40 726 -1,556 -2,206 1,092 -1,215 -97 -36 -4

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 13% 13% 13% 12% 13% 11% 8% 8% 9% 11% 6% 12%
Debtor Days 31 52 10 35 30 27 38 40 38 33 34 59
Inventory Turnover 9.10 8.87 10.17 11.49 10.65 9.72 7.62 6.18 7.16 7.92 7.70 6.02

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
62.27 61.71 61.77 58.93 56.09 56.41 54.50 54.14 51.02 51.02 51.02 51.10
11.52 11.28 11.60 11.66 11.48 11.64 12.09 12.76 12.64 11.43 11.38 12.32
22.82 23.51 23.53 26.10 28.73 28.44 30.65 30.55 33.46 34.58 34.87 33.45
0.01 0.07 0.01 0.01 0.32 0.01 0.12 0.08 0.10 0.10 0.13 0.14
3.37 3.43 3.09 3.30 3.38 3.51 2.64 2.47 2.78 2.87 2.59 2.99

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