NTPC Green Energy Ltd
Incorporated in April 2022, NTPC Green Energy is a renewable energy company that focuses on undertaking projects through organic and inorganic routes.[1]
- Market Cap ₹ 81,845 Cr.
- Current Price ₹ 97.1
- High / Low ₹ 155 / 84.6
- Stock P/E 150
- Book Value ₹ 22.2
- Dividend Yield 0.00 %
- ROCE 6.42 %
- ROE 3.95 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 306 to 86.4 days.
Cons
- Stock is trading at 4.37 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
* 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.
Peer comparison
Utilities Power Power Power Generation
Part of BSE 500 BSE 200 BSE Dollex 200 BSE PSU Nifty 500
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 170 | 1,951 | 2,023 | 2,030 | |
| 14 | 203 | 281 | 299 | |
| Operating Profit | 155 | 1,748 | 1,741 | 1,731 |
| OPM % | 91% | 90% | 86% | 85% |
| 1 | 78 | 251 | 324 | |
| Interest | 50 | 679 | 657 | 639 |
| Depreciation | 50 | 633 | 667 | 672 |
| Profit before tax | 56 | 513 | 668 | 745 |
| Tax % | -209% | 28% | 27% | |
| 174 | 370 | 489 | 546 | |
| EPS in Rs | 0.37 | 0.65 | 0.58 | 0.65 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 4% |
| Compounded Profit Growth | |
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| TTM: | 53% |
| Stock Price CAGR | |
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| Last Year: | 4% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 | 8,426 |
| Reserves | 174 | 545 | 10,060 | 10,311 |
| 5,174 | 8,294 | 8,204 | 7,841 | |
| 6,811 | 3,764 | 3,735 | 3,763 | |
| Total Liabilities | 16,879 | 18,322 | 30,426 | 30,342 |
| 14,000 | 15,184 | 15,300 | 14,924 | |
| CWIP | 902 | 284 | 39 | 56 |
| Investments | 1,094 | 1,445 | 10,792 | 14,242 |
| 882 | 1,409 | 4,295 | 1,120 | |
| Total Assets | 16,879 | 18,322 | 30,426 | 30,342 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 38 | 1,605 | 1,888 | |
| -9,777 | -4,922 | -13,013 | |
| 9,749 | 3,420 | 11,013 | |
| Net Cash Flow | 10 | 103 | -113 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 700 | 131 | 86 |
| Inventory Days | |||
| Days Payable | |||
| Cash Conversion Cycle | 700 | 131 | 86 |
| Working Capital Days | -8,312 | -196 | -170 |
| ROCE % | 10% | 6% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
1d - Ayana wins 140 MW RTC RE project at ₹4.35/kWh in REMC tender concluded 21 Nov 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
19 Nov - NTPC Green signed MoU with Singareni on Nov 19, 2025 to explore solar, wind, hydrogen projects.
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Commercial Operation Of Part Capacity Of 75.5 MW Out Of 1255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited
18 Nov - 75.5 MW part of Khavda-I Solar PV commercially operational from 19-Nov-2025; group capacity 7,639.075 MW.
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NTPC Green Energy Limited Has Decided To Issue Unsecured Non-Convertible Debentures Of Rs. 1,500 Crore On 11.11.2025, Through Private Placement At A Coupon Of 7.01 % P.A. For A Tenor Of 10 Years 1 Day, Maturing On 12.11.2035.
7 Nov - Issue of ₹1,500 crore unsecured NCDs on 11.11.2025 at 7.01% p.a., maturing 12.11.2035.
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Announcement under Regulation 30 (LODR)-Monitoring Agency Report
7 Nov - CARE report: Rs10,000 crore IPO proceeds fully utilized; no deviations; Rs3,152.5cr to JV, Rs2,352.86cr from proceeds.
Business Profile[1] NTPC Green Energy Limited (NGEL) is a renewable energy subsidiary of NTPC Limited, a central public sector enterprise. As of September 30, 2024, NGEL is the largest renewable energy public sector enterprise in India (excluding hydro). Their business model centers on development, construction, and operation of renewable energy projects (solar and wind), supported by long-term Power Purchase Agreements (PPAs).