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 ₹ 75,888 Cr.
- Current Price ₹ 90.1
- High / Low ₹ 121 / 84.6
- Stock P/E 125
- 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 4.05 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 | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 94% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -18% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 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
-
Board Meeting Intimation for Approval And Consideration Of Unaudited Financial Results For The Quarter And Nine Months Ended On 31St December 2025
22 Jan - Board meeting 29 Jan 2026 to consider unaudited Q3/9M results (31 Dec 2025); trading window closed from 1 Jan.
-
Announcement under Regulation 30 (LODR)-Press Release / Media Release
22 Jan - NGEL signed 22 Jan 2026 MoU with Uttar Pradesh to develop renewable energy and green hydrogen projects; Davos meeting.
-
NTPC Green Energy Limited Has informed About Commercial Operation Of Part Capacity Of 37.5 MW Solar Out Of The Total Installed Capacity Of 150 MW Solar Project Located In Gujarat Of Ayana Renewable Power Four Private Limited.
15 Jan - 37.5 MW solar at Bhuj commercial from 17.01.2026; NGEL capacity becomes 8347.78 MW
-
Formation Of A Joint Venture Company With GAIL (India) Limited
15 Jan - Board approved 50:50 JV with GAIL for renewable projects; approvals pending (Ministry of Power, DIPAM).
-
NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of First Part Capacity Of 300 MW Out Of 500 MW Bhadla Solar PV Project Of NTPC Renewable Energy Limited A Wholly Owned Subsidiary Of NTPC Green Energy Limited W.E.F. 13.01.2026.
14 Jan - 300 MW (first part) of 500 MW Bhadla Solar commercial from 13 Jan 2026; group capacity 8310.28 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).