NTPC Ltd

₹ 166 -0.81%
03 Feb - close price
About

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]

Key Points

Power Plants Portfolio
As on Jun 2020, the company has a power portfolio of ~ 63,000 MW from 70 power plants.
Out of total capacity, ~83% comes from coal plants, followed by gas/ liquid fuel plants (~10%), hydro (~5%) & renewables (~2%).
It owns 17% of total installed capacity in India with ~22% share in electricity generation in India.[1]
Company's allocated capacity is well diversified across regions. As on april 2021, none of a single region contributes more than 40% of total allocated capacity of company.[2]

  • Market Cap 160,528 Cr.
  • Current Price 166
  • High / Low 183 / 124
  • Stock P/E 9.36
  • Book Value 137
  • Dividend Yield 4.23 %
  • ROCE 9.80 %
  • ROE 13.7 %
  • Face Value 10.0

Pros

  • Stock is providing a good dividend yield of 4.23%.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 38.8%

Cons

  • The company has delivered a poor sales growth of 8.21% over past five years.
  • Company has a low return on equity of 12.7% over last 3 years.
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -3.04%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
23,496 27,247 23,453 24,677 24,509 26,567 26,039 29,471 30,266 32,905 40,026 41,015 41,411
16,520 19,929 15,708 17,494 17,142 20,351 18,600 21,748 20,555 22,784 30,311 31,880 29,905
Operating Profit 6,976 7,318 7,745 7,183 7,367 6,215 7,439 7,723 9,710 10,121 9,715 9,135 11,506
OPM % 30% 27% 33% 29% 30% 23% 29% 26% 32% 31% 24% 22% 28%
2,124 2,884 568 1,133 1,682 1,673 1,551 1,294 896 1,365 699 1,608 738
Interest 1,761 1,837 2,083 1,773 2,009 1,594 1,989 1,944 1,983 1,912 2,173 2,350 2,874
Depreciation 2,320 2,129 2,530 2,529 2,555 2,797 2,675 2,941 3,099 2,946 3,144 3,287 3,312
Profit before tax 5,020 6,236 3,700 4,014 4,484 3,497 4,326 4,133 5,525 6,627 5,097 5,105 6,057
Tax % 40% 80% 33% 13% 26% -28% 27% 24% 23% 15% 27% 35% 26%
Net Profit 2,995 1,252 2,470 3,505 3,315 4,479 3,146 3,157 4,246 5,622 3,717 3,331 4,476
EPS in Rs 3.03 1.27 2.50 3.54 3.42 4.62 3.24 3.26 4.38 5.80 3.83 3.44 4.62
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
54,351 61,419 65,180 71,459 72,634 70,844 78,273 83,453 90,307 97,700 99,207 116,137 155,357
40,729 47,490 48,090 53,611 56,711 52,848 56,918 58,596 71,260 65,762 66,614 79,565 114,881
Operating Profit 13,623 13,929 17,090 17,848 15,923 17,996 21,356 24,856 19,048 31,938 32,593 36,572 40,476
OPM % 25% 23% 26% 25% 22% 25% 27% 30% 21% 33% 33% 31% 26%
2,340 2,903 4,818 2,665 2,377 1,118 316 1,839 1,755 2,779 973 2,540 4,411
Interest 1,428 1,715 1,933 2,466 2,842 3,346 3,699 3,996 4,717 6,799 7,459 7,400 9,310
Depreciation 2,486 2,792 3,397 4,142 4,912 5,172 5,921 7,099 7,254 8,623 10,412 11,234 12,689
Profit before tax 12,050 12,326 16,579 13,905 10,547 10,596 12,052 15,600 8,831 19,295 15,695 20,478 22,887
Tax % 24% 25% 24% 21% 2% -2% 22% 34% -33% 48% 12% 21%
Net Profit 9,103 9,224 12,619 10,975 10,291 10,770 9,385 10,343 11,750 10,113 13,770 16,111 17,146
EPS in Rs 11.88 10.22 14.20 16.62 17.69
Dividend Payout % 34% 36% 38% 43% 20% 26% 42% 41% 51% 31% 43% 42%
Compounded Sales Growth
10 Years: 7%
5 Years: 8%
3 Years: 9%
TTM: 38%
Compounded Profit Growth
10 Years: 6%
5 Years: 11%
3 Years: 9%
TTM: 14%
Stock Price CAGR
10 Years: 3%
5 Years: 4%
3 Years: 14%
1 Year: 23%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 13%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
8,245 8,245 8,245 8,245 8,245 8,245 8,245 8,245 9,895 9,895 9,697 9,697 9,697
Reserves 59,647 65,046 72,142 77,570 73,412 83,048 87,986 93,532 97,514 103,675 109,289 118,354 123,172
43,188 50,279 58,146 67,170 85,995 93,127 106,840 121,605 142,807 168,712 176,466 173,995 195,616
14,659 17,261 22,647 26,641 29,568 30,810 33,609 44,579 40,787 45,557 47,915 52,659 61,015
Total Liabilities 125,739 140,831 161,180 179,627 197,220 215,231 236,680 267,962 291,002 327,838 343,367 354,705 389,500
39,236 45,256 62,936 72,111 78,849 91,773 99,356 119,759 125,621 156,811 164,449 180,066 200,076
CWIP 35,495 41,828 37,109 44,889 56,493 66,423 80,737 79,076 91,207 73,359 75,438 68,697 71,574
Investments 12,345 11,206 10,760 9,758 9,032 8,393 8,248 10,047 13,146 26,401 28,626 29,881 25,154
38,663 42,540 50,375 52,869 52,846 48,642 48,339 59,079 61,029 71,266 74,854 76,061 92,696
Total Assets 125,739 140,831 161,180 179,627 197,220 215,231 236,680 267,962 291,002 327,838 343,367 354,705 389,500

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
11,085 10,710 15,495 15,732 14,235 23,987 20,014 19,250 16,157 21,584 27,058 35,388
-7,656 -7,881 -14,017 -13,980 -14,563 -18,346 -24,414 -20,390 -20,894 -27,247 -17,342 -16,366
-1,704 -2,869 -752 -3,309 -1,878 -4,550 3,185 1,043 4,701 5,659 -9,646 -19,095
Net Cash Flow 1,726 -40 726 -1,556 -2,206 1,092 -1,215 -97 -36 -4 70 -73

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 10 35 30 27 38 40 38 33 34 58 85 70
Inventory Days
Days Payable
Cash Conversion Cycle 10 35 30 27 38 40 38 33 34 58 85 70
Working Capital Days 27 14 -1 -12 -39 -28 -35 -14 1 22 37 23
ROCE % 13% 12% 13% 11% 8% 8% 9% 11% 6% 12% 9% 10%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
51.02 51.02 51.02 51.10 51.10 51.10 51.10 51.10 51.10 51.10 51.10 51.10
12.64 11.43 11.38 12.32 11.94 13.13 13.48 14.54 14.74 14.00 14.97 15.67
33.46 34.58 34.87 33.45 33.93 32.93 31.98 30.91 30.76 31.33 31.31 30.52
0.10 0.10 0.13 0.14 0.14 0.09 0.21 0.17 0.17 0.17 0.10 0.10
2.78 2.87 2.59 2.99 2.89 2.76 3.23 3.28 3.23 3.40 2.50 2.61

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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