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 ₹ 79,309 Cr.
- Current Price ₹ 94.1
- High / Low ₹ 128 / 84.6
- Stock P/E 131
- Book Value ₹ 22.2
- Dividend Yield 0.00 %
- ROCE 4.89 %
- ROE 3.85 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 306 to 85.3 days.
Cons
- Stock is trading at 4.16 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 170 | 1,963 | 2,210 | 2,420 | |
| 18 | 217 | 290 | 303 | |
| Operating Profit | 152 | 1,745 | 1,920 | 2,117 |
| OPM % | 90% | 89% | 87% | 87% |
| 1 | 77 | 257 | 356 | |
| Interest | 51 | 694 | 766 | 782 |
| Depreciation | 50 | 643 | 758 | 885 |
| Profit before tax | 53 | 486 | 653 | 805 |
| Tax % | -226% | 29% | 27% | |
| 171 | 343 | 474 | 606 | |
| EPS in Rs | 0.36 | 0.60 | 0.56 | 0.72 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
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| 3 Years: | % |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | 94% |
| Stock Price CAGR | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -24% |
| Return on Equity | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 | 8,426 |
| Reserves | 168 | 513 | 10,014 | 10,322 |
| 6,137 | 13,856 | 19,441 | 21,826 | |
| 7,407 | 7,119 | 7,540 | 7,840 | |
| Total Liabilities | 18,431 | 27,207 | 45,421 | 48,414 |
| 14,758 | 17,573 | 21,816 | 26,343 | |
| CWIP | 1,749 | 7,138 | 13,983 | 15,373 |
| Investments | 0 | 0 | 3,199 | 3,331 |
| 1,924 | 2,495 | 6,423 | 3,367 | |
| Total Assets | 18,431 | 27,207 | 45,421 | 48,414 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 17 | 1,616 | 1,999 | |
| -10,304 | -9,218 | -17,793 | |
| 10,360 | 7,645 | 15,715 | |
| Net Cash Flow | 73 | 43 | -80 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Debtor Days | 700 | 131 | 85 |
| Inventory Days | |||
| Days Payable | |||
| Cash Conversion Cycle | 700 | 131 | 85 |
| Working Capital Days | -8,849 | -723 | -642 |
| ROCE % | 8% | 5% |
Documents
Announcements
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Ninth Part Capacity Of 13.98 MW Out Of 1255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited.
29 Dec - 13.98 MW of Khavda-I declared commercial from 30.12.2025; group capacity 8,010.28 MW.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Eighth Part Capacity Of 69.04 MW Out Of 1255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited.
24 Dec - 69.04 MW Khavda-I PV unit declared commercial from 25.12.2025; NGEL capacity rises to 7,996.30 MW.
- Closure of Trading Window 23 Dec
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Fifth Part Capacity Of 37.925 MW Out Of 300 MW Khavda Solar Energy Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited.
17 Dec - 37.925 MW of Khavda Solar declared COD effective 18.12.2025; NGEL group capacity rises to 7,927.26 MW.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Seventh Part Capacity Of 243.66 MW Out Of 1,255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited.
16 Dec - 243.66 MW Khavda-I solar commissioned effective 17.12.2025; NGEL group capacity rises to 7,889.335 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).