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 ₹ 87,659 Cr.
- Current Price ₹ 104
- High / Low ₹ 155 / 84.6
- Stock P/E 157
- Book Value ₹ 21.9
- 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 4.75 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- 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 PSU Nifty 500 Nifty Midcap 100
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 | 2,311 | |
| 18 | 217 | 290 | 305 | |
| Operating Profit | 152 | 1,745 | 1,920 | 2,006 |
| OPM % | 90% | 89% | 87% | 87% |
| 1 | 77 | 257 | 317 | |
| Interest | 51 | 694 | 766 | 770 |
| Depreciation | 50 | 643 | 758 | 806 |
| Profit before tax | 53 | 486 | 653 | 746 |
| Tax % | -226% | 29% | 27% | |
| 171 | 343 | 474 | 556 | |
| EPS in Rs | 0.36 | 0.60 | 0.56 | 0.67 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 13% |
| Compounded Profit Growth | |
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| TTM: | 39% |
| Stock Price CAGR | |
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| Last Year: | 4% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 |
| Reserves | 168 | 513 | 10,014 |
| 6,137 | 13,856 | 19,441 | |
| 7,407 | 7,119 | 7,540 | |
| Total Liabilities | 18,431 | 27,207 | 45,421 |
| 14,758 | 17,573 | 21,816 | |
| CWIP | 1,749 | 7,138 | 13,983 |
| Investments | 0 | 0 | 3,199 |
| 1,924 | 2,495 | 6,423 | |
| Total Assets | 18,431 | 27,207 | 45,421 |
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 Successful Commissioning, Part Capacity Of 100 MW (Lot-6) (Cumulative 400 MW) Out Of Total 500 MW Plant Capacity Of IRCON Renewable Power Limited (IRPL), A 24% Joint Venture Of Ayana Renewable Power Private Limited, A Wholly Owned Subsidiary Of ONGC NTPC Green Private Limited A 50% Joint Venture Of NTPC Green Energy Limited Is Declared On Commercial Operation W.E.F. 00:00 Hrs. Of 17.09.2025.
15 Sep - 100 MW commissioned at IRCON Renewable effective 17.09.2025; NGEL capacity becomes 7372.575 MW
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
12 Sep - P. R. Mehra & Co. appointed statutory auditor for FY2025-26 by CAG on 12 Sep 2025.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
5 Sep - NGEL MoU with VOCPA (05-09-2025) to set up green hydrogen fuelling station and hydrogen trucks
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Part Capacity Of 25 MW Solar Out Of The Total Installed Capacity Of 150 MW Solar Project Located In Bhuj, Gujarat Of Ayana Renewable Power Four Private Limited, A Subsidiary Of Ayana Renewable Power Pvt. Ltd., A Wholly Owned Subsidiary Of Our Joint Venture ONGC NTPC Green Private W.E.F. 03.09.2025.
1 Sep - 25 MW Bhuj solar commissioned w.e.f. 03.09.2025; NGEL group capacity increases to 7,272.575 MW
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Announcement under Regulation 30 (LODR)-Change in Management
1 Sep - Manoj Dubey, Chief General Manager, ceased on superannuation effective 31 August 2025.
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).