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 ₹ 70,832 Cr.
- Current Price ₹ 84.0
- High / Low ₹ 120 / 79.0
- Stock P/E 180
- Book Value ₹ 22.4
- Dividend Yield 0.00 %
- ROCE 4.31 %
- ROE 2.17 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 92.1 to 59.0 days.
Cons
- Stock is trading at 3.74 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company has a low return on equity of 3.45% over last 3 years.
* 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 170 | 1,951 | 2,023 | 1,967 | 1,977 | |
| 14 | 203 | 281 | 299 | 298 | |
| Operating Profit | 155 | 1,748 | 1,741 | 1,667 | 1,679 |
| OPM % | 91% | 90% | 86% | 85% | 85% |
| 1 | 78 | 251 | 177 | 136 | |
| Interest | 50 | 679 | 657 | 628 | 617 |
| Depreciation | 50 | 633 | 667 | 667 | 664 |
| Profit before tax | 56 | 513 | 668 | 550 | 534 |
| Tax % | -209% | 28% | 27% | 26% | |
| 174 | 370 | 489 | 406 | 394 | |
| EPS in Rs | 0.37 | 0.65 | 0.58 | 0.48 | 0.46 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 126% |
| TTM: | -3% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 33% |
| TTM: | -25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -20% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| Last Year: | 2% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 | 8,426 |
| Reserves | 174 | 545 | 10,060 | 10,466 |
| 5,174 | 8,294 | 8,204 | 9,025 | |
| 6,811 | 3,764 | 3,735 | 3,675 | |
| Total Liabilities | 16,879 | 18,322 | 30,426 | 31,592 |
| 14,000 | 15,184 | 15,300 | 14,601 | |
| CWIP | 902 | 284 | 39 | 101 |
| Investments | 1,094 | 1,445 | 10,792 | 14,709 |
| 882 | 1,409 | 4,295 | 2,182 | |
| Total Assets | 16,879 | 18,322 | 30,426 | 31,592 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 38 | 1,605 | 1,888 | 1,773 | |
| -9,777 | -4,922 | -13,013 | -1,932 | |
| 9,749 | 3,420 | 11,013 | 236 | |
| Net Cash Flow | 10 | 103 | -113 | 78 |
| Free Cash Flow | 35 | -3,121 | 1,145 | 1,436 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 24% | 92% | 109% | 107% |
Ratios
Standalone / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 700 | 131 | 86 | 59 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 700 | 131 | 86 | 59 |
| Working Capital Days | -8,312 | -196 | -170 | -155 |
| ROCE % | 10% | 6% | 4% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Contracted & Awarded Capacity (Order Book) MW |
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| Power Generation MU (Million Units) |
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| Solar Operational Capacity MW |
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| Total Operational Capacity (Consolidated) MW |
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| Wind Operational Capacity MW |
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| Under-Construction Capacity MW |
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| Solar Capacity Utilization Factor (CUF) % |
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| Wind Capacity Utilization Factor (CUF) % |
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Extracted by Screener AI
Documents
Announcements
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Board Meeting Intimation for Approval And Consideration Of Unaudited Financial Results Of The Company For The Half Year And The Quarter Ended On 30Th September 2026.
- Board meets on 30 October 2026 to approve Q2 and half-year unaudited financial results.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026; no dematerialisation requests received.
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Declaration Of Commercial Operation Of NTPC Renewable Energy Limited A Wholly Owned Subsidiary Of NTPC Green Energy Limited W.E.F. 00:00 Hrs Of 10.10.2026.
- 66.18 MW Kalasar Solar Project commissioned from 10 Oct 2026; group capacity rises to 11,328.69 MW.
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Declaration Of Commercial Operation Of Project Sixteen Renewable Power Private Limited, A Step-Down Subsidiary Of Our Joint Venture ONGC NTPC Green Private Limited.
- 50 MW solar capacity under 200 MW RTC project achieves COD on 02 Oct 2026; group capacity becomes 11,262.51 MW.
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Declaration Of Commercial Operations
- 73.06 MW and 80.88 MW Kalasar Solar units begin commercial operation from 1 Oct 2026; capacity rises to 11,212.51 MW.
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).