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 ₹ 77,126 Cr.
- Current Price ₹ 91.5
- High / Low ₹ 145 / 84.6
- Stock P/E 127
- 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 4.11 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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| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
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| 5 Years: | % |
| 3 Years: | % |
| TTM: | 94% |
| Stock Price CAGR | |
|---|---|
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| 1 Year: | -36% |
| 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 Commercial Operation Of 6.6 MW (Wind) Out Of The 100 MW Hybrid Project 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.
9 Dec - 6.6MW wind commissioned at Bhuj w.e.f. 11-Dec-2025; NGEL capacity rises to 7,645.675MW
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Intimation Regarding Incorporation Of CHHATTISGARH NTPC GREEN ENERGY LIMITED, A 74:26 Joint Venture Of NTPC Green Energy Limited (NGEL) And Chhattisgarh State Power Generation Company Limited (CSPGCL).
5 Dec - Incorporated 05-Dec-2025: NGEL holds 74% in Chhattisgarh NTPC Green Energy; develop up to 2 GW renewable projects; 74,000 shares.
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Announcement under Regulation 30 (LODR)-Change in RTA
24 Nov - NTPC Green Energy changing RTA from KFin Technologies to Beetal Financial; effective date to be intimated post-transition.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
21 Nov - 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.
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).