NTPC Green Energy Ltd

NTPCGREEN

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Market Cap

₹ 76,258 Cr

P/E

125.69

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Performance

UNDER PERFORMER

Valuation

OVERVALUED

Growth

STABLE

Profitability

LOW MARGIN

Technicals

Bearish

Risk

MODERATE RISK

Investment Checklist

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Price

PE Ratio

Price

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Overview

Detailed Summary

NTPC Green Energy Limited is a wholly owned subsidiary of NTPC Limited focused on power generation through renewable energy sources including solar, wind, and hydroelectricity.

The company recently expanded its renewable asset portfolio with 15 new assets, totaling 2,861 MW, and launched several solar and wind projects across India in 2023.

A strategic joint venture with Indian Oil Corporation, named Indian Oil NTPC Green Energy Private Limited, was formed to develop renewable energy-based projects.

NTPC Green Energy is set to raise Rs 10,000 Crore through an IPO to fuel further growth and expansion in renewable energy sectors.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

76,258 Cr

Volatility

High Risk

P/E Ratio

125.7

Industry P/E

23.6

PEG Ratio

2.6

P/B Ratio

4.1

52W High

145.00

52W Low

84.60

Sales CAGR

12.59%

—

10Y

—

Profit CAGR

38.28%

—

10Y

—

ROE

TTM

3.24%

3.34%

—

10Y

—

ROCE

TTM

3.70%

3.50%

—

10Y

—

Technicals

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Forecasts

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Price, EPS and Revenue Projections

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TATAPOWER	381.60	1,21,934 Cr	30.19	3.24	0.59	10.75	9.31	3.05
ENRIN	2946.75	1,04,940 Cr	95.39	23.95	0.14	25.11	31.50	11.53
JSWENERGY	486.30	84,994 Cr	41.99	2.92	0.41	6.95	6.52	1.96
NHPC	77.24	77,588 Cr	24.44	1.88	2.47	7.69	6.46	3.23
NTPCGREEN	90.50	76,258 Cr	125.69	4.07	0.00	3.24	3.70	1.25
TORNTPOWER	1286.70	65,049 Cr	21.75	3.46	1.47	15.90	13.21	7.57
NLCINDIA	242.95	33,688 Cr	12.90	1.69	1.23	13.09	9.64	4.48

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	446	508	578	504	505	622	680	612
Expenses	51	71	65	84	82	62	77	83
Operating Profit	395	437	513	420	424	560	604	530
OPM %	88.55	85.96	88.68	83.35	83.85	90.04	88.73	86.49
Other Income	17	45	29	20	76	129	89	60
Interest	174	181	183	195	206	177	193	207
Depreciation	159	173	175	182	195	206	223	261
Profit Before Tax	80	127	183	63	99	307	277	122
Tax %	30.64	36.37	24.44	41.70	33.89	24.04	20.43	28.98
Net Profit	56	81	139	37	66	233	220	86
EPS in Rs	—	—	—	0.05	0.08	0.28	0.26	0.10

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	170	1,963	2,210	2,311
Expenses	18	216	293	304
Operating Profit	151	1,746	1,917	2,007
OPM %	89.21	88.99	86.74	86.84
Other Income	0.94	75	255	315
Interest	50	691	761	770
Depreciation	50	643	758	806
Profit Before Tax	53	488	653	746
Tax %	-225.88	29.39	27.35	25.50
Net Profit	171	345	474	556
EPS in Rs	—	—	—	0.72
Dividend Payout %	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025
Equity Capital	4,720	5,720	8,426
Reserves	168	513	10,014
Borrowings	6,137	13,856	19,441
Other Liabilities	7,407	7,118	7,540
Total Liabilities	18,431	27,206	45,421
Fixed Assets	14,758	17,573	21,816
CWIP	1,749	7,138	13,983
Investments	0.00	0.05	3,199
Other Assets	1,924	2,495	6,423
Total Assets	18,431	27,206	45,421

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	17	1,579	1,999
Cash from Investing Activity	-10,304	-9,207	-17,793
Cash from Financing Activity	10,360	7,671	15,715
Net Cash Flow	73	43	-80

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Sep 2024	Nov 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	100.00%	89.01%	89.01%	89.01%	89.01%	89.01%
FIIs	0.00%	2.24%	2.18%	1.98%	1.85%	1.79%
DIIs	0.00%	5.21%	5.29%	4.87%	4.65%	4.64%
Public	0.00%	3.54%	3.52%	4.14%	4.49%	4.57%
Total Shareholders	1	9,92,322	12,76,901	14,07,563	13,86,018	13,58,211

Projection

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Announcements

Last 7 days

Newest

Sentiment

Operational Update

6 days ago

NTPC Green Energy Announces Commercial Operation of Wind Capacity

NTPC Green Energy Limited announces the commercial operation of 6.6 MW wind capacity from the 100 MW hybrid project of Ayana Renewable Power, increasing total capacity to 7645.675 MW.

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q1 FY26

Investor Presentation

Q1 FY25

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Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

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Bearish

Neutral

Bullish

Moving Averages

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Bearish

Neutral

Bullish

Overall

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Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
TATAPOWER	381.60	1,21,934 Cr	30.19	3.24	0.59	10.75	9.31	3.05
ENRIN	2946.75	1,04,940 Cr	95.39	23.95	0.14	25.11	31.50	11.53
JSWENERGY	486.30	84,994 Cr	41.99	2.92	0.41	6.95	6.52	1.96
NHPC	77.24	77,588 Cr	24.44	1.88	2.47	7.69	6.46	3.23
NTPCGREEN	90.50	76,258 Cr	125.69	4.07	0.00	3.24	3.70	1.25
TORNTPOWER	1286.70	65,049 Cr	21.75	3.46	1.47	15.90	13.21	7.57
NLCINDIA	242.95	33,688 Cr	12.90	1.69	1.23	13.09	9.64	4.48

Overview

Detailed Summary

NTPC Green Energy Limited is a wholly owned subsidiary of NTPC Limited focused on power generation through renewable energy sources including solar, wind, and hydroelectricity.

The company recently expanded its renewable asset portfolio with 15 new assets, totaling 2,861 MW, and launched several solar and wind projects across India in 2023.

A strategic joint venture with Indian Oil Corporation, named Indian Oil NTPC Green Energy Private Limited, was formed to develop renewable energy-based projects.

NTPC Green Energy is set to raise Rs 10,000 Crore through an IPO to fuel further growth and expansion in renewable energy sectors.

Sector

Power Generation & Distribution

Industry

Power Generation And Supply

Market Cap

76,258 Cr

Volatility

High Risk

P/E Ratio

125.7

Industry P/E

23.6

PEG Ratio

2.6

P/B Ratio

4.1

52W High

145.00

52W Low

84.60

Sales CAGR

12.59%

—

10Y

—

Profit CAGR

38.28%

—

10Y

—

ROE

TTM

3.24%

3.34%

—

10Y

—

ROCE

TTM

3.70%

3.50%

—

10Y

—