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 ₹ 76,081 Cr.
- Current Price ₹ 90.3
- High / Low ₹ 118 / 84.0
- Stock P/E 136
- 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 4.06 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 4.34% over last 3 years.
- 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 | 2,568 | |
| 18 | 217 | 290 | 339 | |
| Operating Profit | 152 | 1,745 | 1,920 | 2,229 |
| OPM % | 90% | 89% | 87% | 87% |
| 1 | 77 | 257 | 310 | |
| Interest | 51 | 694 | 766 | 806 |
| Depreciation | 50 | 643 | 758 | 990 |
| Profit before tax | 53 | 486 | 653 | 742 |
| Tax % | -226% | 29% | 27% | |
| 171 | 343 | 474 | 557 | |
| EPS in Rs | 0.36 | 0.60 | 0.56 | 0.66 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 23% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 73% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| 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 Part Capacity Of 158.4 MW Out Of 250 MW Solar PV Project Of Ayana Kadapa Renewable Power Private Limited, A Subsidiary Of Ayana Renewable Power Pvt. Ltd., A Wholly Owned Subsidiary Of Our Joint Venture ONGC NTPC Green Private Limited.
1d - 158.4 MW of 250 MW Kadapa solar project commercial from 14.02.2026; group capacity 9151.08 MW.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Second Part Capacity Of 165 MW Out Of 1200 MW Khavda-II Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited W.E.F. 20.02.2026.
2d - 165 MW second part of 1200 MW Khavda-II solar declared commercial from 20-Feb-2026; group capacity 8,992.68 MW.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Eleventh Part Capacity Of 14.43 MW Out Of 1255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited W.E.F. 10.02.2026.
9 Feb - 14.43 MW Khavda-I unit declared commercial from 10-Feb-2026; group capacity becomes 8827.68 MW.
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Announcement under Regulation 30 (LODR)-Change in RTA
4 Feb - NTPC Green Energy changed RTA to Beetal Financial; electronic transfer effective Feb 03, 2026.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of Second Part Capacity Of 125 MW Out Of 500 MW Bhadla Solar PV Project Located In Rajasthan Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited W.E.F. 31.01.2026.
3 Feb - 125 MW second-part Bhadla Solar PV COD effective 31-Jan-2026; group capacity rises to 8813.25 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).