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 ₹ 76,511 Cr.
- Current Price ₹ 90.8
- High / Low ₹ 120 / 84.0
- Stock P/E 126
- Book Value ₹ 22.5
- Dividend Yield 0.00 %
- ROCE 3.56 %
- ROE 2.79 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Debtor days have improved from 98.3 to 78.5 days.
Cons
- Stock is trading at 4.03 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 3.66% 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 170 | 1,963 | 2,210 | 2,858 | 3,285 | |
| 18 | 217 | 290 | 397 | 457 | |
| Operating Profit | 152 | 1,745 | 1,920 | 2,461 | 2,828 |
| OPM % | 90% | 89% | 87% | 86% | 86% |
| 1 | 77 | 257 | 221 | 183 | |
| Interest | 51 | 694 | 766 | 898 | 1,016 |
| Depreciation | 50 | 643 | 758 | 1,102 | 1,221 |
| Profit before tax | 53 | 486 | 653 | 683 | 774 |
| Tax % | -226% | 29% | 27% | 24% | |
| 171 | 343 | 474 | 521 | 606 | |
| EPS in Rs | 0.36 | 0.60 | 0.56 | 0.62 | 0.71 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 156% |
| TTM: | 42% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 45% |
| TTM: | 9% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -8% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| Last Year: | 3% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 | 8,426 |
| Reserves | 168 | 513 | 10,014 | 10,539 |
| 6,137 | 13,856 | 19,441 | 31,716 | |
| 7,407 | 7,119 | 7,540 | 9,700 | |
| Total Liabilities | 18,431 | 27,207 | 45,421 | 60,382 |
| 14,758 | 17,573 | 21,816 | 39,202 | |
| CWIP | 1,749 | 7,138 | 13,983 | 14,193 |
| Investments | 0 | 0 | 3,199 | 3,536 |
| 1,924 | 2,495 | 6,423 | 3,451 | |
| Total Assets | 18,431 | 27,207 | 45,421 | 60,382 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 17 | 1,616 | 2,051 | 2,386 | |
| -10,304 | -9,218 | -17,845 | -12,117 | |
| 10,360 | 7,645 | 15,715 | 9,796 | |
| Net Cash Flow | 73 | 43 | -80 | 66 |
| Free Cash Flow | -734 | -7,937 | -9,986 | -12,832 |
| CFO/OP | 11% | 93% | 107% | 97% |
Ratios
Consolidated / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 700 | 131 | 85 | 78 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 700 | 131 | 85 | 78 |
| Working Capital Days | -8,849 | -723 | -650 | -684 |
| ROCE % | 8% | 5% | 4% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Total Operational Capacity (Consolidated) MW |
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| Contracted & Awarded Capacity (Order Book) MW |
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| Power Generation MU (Million Units) |
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| Solar Operational Capacity MW |
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| Under-Construction Capacity MW |
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| Wind Operational Capacity MW |
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| Solar Capacity Utilization Factor (CUF) % |
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| Wind Capacity Utilization Factor (CUF) % |
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Extracted by Screener AI
Documents
Announcements
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Declaration Of Commercial Operation Of Project Sixteen Renewable Power Private Limited, A Step-Down Subsidiary Of Our Joint Venture ONGC NTPC Green Private Limited.
- 50 MW solar capacity under 200 MW RTC project achieves COD on 02 Oct 2026; group capacity becomes 11,262.51 MW.
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Declaration Of Commercial Operations
- 73.06 MW and 80.88 MW Kalasar Solar units begin commercial operation from 1 Oct 2026; capacity rises to 11,212.51 MW.
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Declaration Of Commercial Operations
- 81.34 MW of Kalasar Solar Project commissioned on 26.09.2026; group capacity rises to 11,058.57 MW.
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Closure of Trading Window
- Trading window closed from 1 October 2026 until 48 hours after Q2 FY2026 results.
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NTPC Green Energy Limited Has informed About Declaration Of Commercial Operation Of NTPC Renewable Energy Limited, A Wholly Owned Subsidiary W.E.F. 00:00 Hrs Of 22.09.2026
- 6.3 MW Vanki and 50.4 MW Jamjodhpur wind capacities commissioned from 22 September 2026.
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).