NTPC Ltd(NTPC)

NSE: NTPCBSE: 532555

₹ 298-1.28%refreshed 23 Oct, 03:52 pm ISTMarket cap: ₹ 2.89 L crNext results: 31 Oct 2026Website: www.ntpc.co.inUpdated: 24 Oct 2026

About

NTPC Ltd generates electricity from thermal, hydro and renewable sources. NTPC Group's installed capacity was 91,572 MW, and its commercial capacity was 90,492 MW, as of 10 October 2026. Group revenue was Rs 187384.63 Cr in FY26. Its listed renewable arm, NTPC Green Energy Ltd, has crossed 10 GW of installed capacity, and its subsidiary NTPC Mining Ltd is India's third-largest coal miner.^[1][2][3]

Business segments

Generation made up 90.4% of segment revenue in FY26 (Rs 182,610.35 Cr). Others (consultancy, trading, mining) made up 9.6%. Generation's share fell 1.5 percentage points over FY2020-FY2026.^[4]
Standalone revenue in FY26: generation of energy Rs 1,59,706.46 Cr; others (consultancy, trading, mining) Rs 12,260.53 Cr.^[3]

Installed and under-construction capacity

Group installed capacity reached 91,572 MW, and commercial capacity 90,492 MW, as of 10 October 2026.^[1]
Standalone installed capacity was 60,796 MW at 31 March 2026. The 440 MW Tanda Stage-I was permanently shut from 1 September 2025.^[3]
NTPC Group has 4,475 MW of operational hydropower capacity, as of FY26.^[3]
NTPC Green Energy Ltd has crossed 10 GW of installed capacity, including the Khavda complex in Gujarat, as of FY26.^[3]
Projects totalling 34,188 MW were under implementation as of FY26.^[3]
Renewable operational capacity was 12 GW as of June 2026. NGEL's visible pipeline is about 30 GW.^[5]
NTPC Mining Ltd is India's third-largest coal miner, with six operational mines and three under development, as of FY26.^[3]

Key operating numbers

Group generation was 3,98,073 MU in FY26. Subdued power demand at coal stations weighed on output.^[3]
Standalone coal PLF was 72.04% in FY26, down from 77.44% in FY25, against a rest-of-India average of 63.20%.^[5]
Coal fleet declared capacity exceeded 85% in FY26. Group PLF year-to-date in Q1 FY27 was about 77%.^[5]
NGEL generated 15 BU in FY26, up from 7 BU in FY25.^[5]
Captive coal production was 48.66 MMT in FY26, up about 8.5% year on year, and met 18% of total coal requirement.^[5]
Trade receivable days fell to 15 in FY26 from 31 in FY25. Revenue realisation was 100% in FY26.^[5]

Customers and distribution

DISCOMs reported an aggregate profit of over ₹2,700 crore in FY25, against a loss of ₹25,553 crore in FY24.^[6]
A CERC suo motu order requires DISCOMs to give thermal generators a technically feasible minimum dispatch schedule.^[7]

Capacity addition and capex

FY26 capacity addition was a record 9,618 MW (net 9,178 MW), about 60% of it renewable.^[5]
Group capex rose to ₹55,985.82 crore in FY26 on an accrual basis, including joint ventures and subsidiaries.^[3]
The FY27 group capacity addition plan is 9,557 MW: 1,070 MW thermal, 250 MW hydro and 8,237 MW renewable.^[8]
Capital commitments on property, plant and equipment contracts rose to ₹1,38,439.71 crore at FY26, from ₹1,05,652.00 crore.^[3]
Some projects are overdue: Tapovan HEP runs beyond April 2029, and VPHEP is delayed by the financial crisis of civil contractor HCC, as of FY26.^[3]
R&D spending was ₹583.19 crore in FY26, focused on CCUS, green hydrogen and storage.^[3]

Long-term targets

The FY26 annual report targets 149 GW installed capacity by 2032, including 60 GW renewables, and 244 GW by 2037.^[3]
Group capex plan through FY37 is ₹16.86 lakh crore: ₹1.08 lakh crore for FY26-27, ₹5.97 lakh crore for FY28-32 and ₹9.63 lakh crore for FY33-37.^[5]
NTPC targets 30 GW of nuclear capacity by FY47.^[5]
Battery storage (BESS) portfolio is 38.9 GWh, with 6.62 GWh under execution, including 5 GWh co-located at thermal plants.^[5]
Group pumped storage plan totals 18,010 MW across NTPC, THDC and NEEPCO.^[8]
Planned green hydrogen hub at Pudimadaka (Visakhapatnam): 1,200 acres, about 5 GW RE-RTC, envisaged investment of about ₹1 lakh crore.^[5]
Asset monetisation target of ₹27,000 crore over FY26 to FY30.^[3]

Recent developments

On 10 October 2026, NGEL declared commercial operation of 66.18 MW of solar capacity at the Kalasar project in Bikaner, Rajasthan.^[1]
Kalasar Solar tranches of 73.06 MW and 80.88 MW were commissioned effective 1 October 2026.^[9]
The 6.3 MW Vanki Wind and 50.4 MW Jamjodhpur Wind projects began commercial operation on 22 September 2026.^[10]
Acquisition of the 1,350 MW Sinnar Thermal plant with MAHAGENCO through IBC was completed on 24 February 2026 for ₹3,800.14 crore. All five units are non-operational and being revived.^[3]
Coal mining moved to NTPC Mining Ltd. The last mine, Pakri Barwadih, was transferred on 1 April 2026; transfer value was about ₹10,503 crore.^[3][5]
Shareholder approval is sought to raise up to ₹12,000 Crore through private-placement NCDs, in up to 12 tranches.^[3]
Independent directors were fewer than half of the board in FY26, which led to fines from NSE and BSE.^[3]
A 144 MWh CO2-based battery storage system at Kudgi was targeted for commissioning by October-November 2026.^[5]

Market Cap

₹2,88,961 Cr

High / Low

₹414 / 306

Stock P/E

11.1

Price / Book

1.5

Book Value

₹210

EPS

₹27.9

No. of Shares

969.67 Cr

ROCE

8.2%

ROE

14.0%

OPM

20.1%

Debt / Equity

1.32

Sales

₹1,87,385 Cr

Net Profit

₹27,546 Cr

Promoter holding

51.1%

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NTPC Ltd(NTPC)

About

Business segments

Installed and under-construction capacity

Key operating numbers

Customers and distribution

Capacity addition and capex

Long-term targets

Recent developments

Signal history

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