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 ₹ 94,796 Cr.
- Current Price ₹ 112
- High / Low ₹ 155 / 84.6
- Stock P/E 200
- Book Value ₹ 21.9
- Dividend Yield 0.00 %
- ROCE 4.87 %
- ROE 3.84 %
- Face Value ₹ 10.0
Pros
- Debtor days have improved from 306 to 85.3 days.
Cons
- Stock is trading at 5.12 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 Nifty 500 Nifty Midcap 100 BSE IPO Nifty 200 BSE Allcap
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| 170 | 1,963 | 2,210 | |
| 18 | 215 | 294 | |
| Operating Profit | 152 | 1,748 | 1,916 |
| OPM % | 90% | 89% | 87% |
| 1 | 77 | 256 | |
| Interest | 51 | 694 | 761 |
| Depreciation | 50 | 643 | 758 |
| Profit before tax | 53 | 488 | 653 |
| Tax % | -226% | 29% | 27% |
| 171 | 345 | 474 | |
| EPS in Rs | 0.36 | 0.60 | 0.56 |
| Dividend Payout % | 0% | 0% | 0% |
| Compounded Sales Growth | |
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| TTM: | 13% |
| Compounded Profit Growth | |
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| TTM: | 38% |
| 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 | 13,857 | 19,441 | |
| 7,407 | 7,118 | 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 | 1,579 | 1,999 | |
| -10,304 | -9,207 | -17,793 | |
| 10,360 | 7,671 | 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 | -8,399 | -590 | -490 |
| ROCE % | 8% | 5% |
Documents
Announcements
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Declaration Of Commercial Operation Of First Part Capacity Of 110.25 MW Out Of 1255 MW Khavda-I Solar PV Project Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary Of NTPC Green Energy Limited.
5 Jun - 110.25 MW capacity of 1255 MW Khavda-I Solar PV Project commissioned from 06.06.2025.
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General Update
5 Jun - Correction: NTPC Renewable Energy Ltd is subsidiary of NTPC Green Energy Ltd, not NTPC Ltd.
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General Update
4 Jun - NTPC Renewable Energy signed 1000 MW solar PPA at ₹2.56/kWh on June 4, 2025.
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Announcement under Regulation 30 (LODR)-Credit Rating
3 Jun - CRISIL assigns AAA/Stable rating to NTPC Green Energy's proposed NCDs on June 2, 2025.
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Key Performance Highlights Of NTPC Green Energy Limited For The Quarter And Year Ended On 31St March 2025
24 May - Key performance highlights for Q4 and FY 2025 available online via company link.
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).