Earnings Update: NTPC Limited (NSE:NTPC) Just Reported And Analysts Are Trimming Their Forecasts
Feb 03
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Indian (NIFTY) Utilities Sector Analysis
UpdatedFeb 03, 2026
DataAggregated Company Financials
Companies48
- 7D2.9%
- 3M-9.6%
- 1Y1.2%
- YTD-6.1%
The Utilities industry is up 2.9% in the last week, with Power Grid Corporation of India up 11%. The industry has been flat over the past 12 months despite the gain this week. Earnings are forecast to grow by 17% annually.
Sector Valuation and Performance
Has the Indian Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 03 Feb 2026 | ₹19.2t | ₹7.7t | ₹964.1b | 22.8x | 19.9x | 2.5x |
| Thu, 01 Jan 2026 | ₹20.1t | ₹7.7t | ₹954.8b | 25.1x | 21x | 2.6x |
| Sat, 29 Nov 2025 | ₹20.4t | ₹7.7t | ₹956.0b | 24.4x | 21.3x | 2.6x |
| Mon, 27 Oct 2025 | ₹21.5t | ₹7.7t | ₹1.0t | 27.9x | 21.2x | 2.8x |
| Wed, 24 Sep 2025 | ₹21.8t | ₹7.7t | ₹1.0t | 27.4x | 21.4x | 2.8x |
| Fri, 22 Aug 2025 | ₹20.2t | ₹7.7t | ₹1.0t | 27x | 19.9x | 2.6x |
| Sun, 20 Jul 2025 | ₹21.1t | ₹7.6t | ₹1.0t | 28.7x | 20.8x | 2.8x |
| Tue, 17 Jun 2025 | ₹20.6t | ₹7.6t | ₹1.0t | 29.6x | 20.4x | 2.7x |
| Thu, 15 May 2025 | ₹20.2t | ₹7.6t | ₹945.9b | 28.8x | 21.4x | 2.7x |
| Sat, 12 Apr 2025 | ₹19.8t | ₹7.5t | ₹1.0t | 28.1x | 19.1x | 2.6x |
| Mon, 10 Mar 2025 | ₹18.5t | ₹7.5t | ₹1.0t | 28.2x | 17.8x | 2.5x |
| Wed, 05 Feb 2025 | ₹19.3t | ₹7.5t | ₹1.1t | 28.5x | 18.3x | 2.6x |
| Fri, 03 Jan 2025 | ₹21.2t | ₹7.4t | ₹1.0t | 29.9x | 20.6x | 2.9x |
| Sun, 01 Dec 2024 | ₹22.3t | ₹7.4t | ₹1.0t | 30.5x | 21.5x | 3x |
| Tue, 29 Oct 2024 | ₹22.2t | ₹7.3t | ₹980.6b | 36.6x | 22.7x | 3x |
| Thu, 26 Sep 2024 | ₹25.3t | ₹7.3t | ₹960.9b | 36.1x | 26.3x | 3.5x |
| Sat, 24 Aug 2024 | ₹24.0t | ₹7.3t | ₹960.9b | 34.3x | 25x | 3.3x |
| Mon, 22 Jul 2024 | ₹23.2t | ₹7.1t | ₹979.8b | 38.5x | 23.7x | 3.3x |
| Wed, 19 Jun 2024 | ₹23.7t | ₹7.1t | ₹977.5b | 37.1x | 24.3x | 3.4x |
| Fri, 17 May 2024 | ₹22.2t | ₹7.0t | ₹842.5b | 31.2x | 26.3x | 3.2x |
| Sun, 14 Apr 2024 | ₹22.0t | ₹6.9t | ₹863.4b | 32x | 25.5x | 3.2x |
| Tue, 12 Mar 2024 | ₹21.3t | ₹6.9t | ₹864.2b | 29.5x | 24.7x | 3.1x |
| Thu, 08 Feb 2024 | ₹21.2t | ₹6.9t | ₹898.7b | 30.2x | 23.6x | 3.1x |
| Sat, 06 Jan 2024 | ₹19.3t | ₹6.8t | ₹835.7b | 25.4x | 23.1x | 2.8x |
| Mon, 04 Dec 2023 | ₹15.3t | ₹6.8t | ₹835.7b | 23.4x | 18.3x | 2.2x |
| Wed, 01 Nov 2023 | ₹13.5t | ₹6.8t | ₹729.8b | 19.7x | 18.4x | 2x |
| Fri, 29 Sep 2023 | ₹14.0t | ₹6.7t | ₹703.8b | 19.2x | 19.8x | 2.1x |
| Sun, 27 Aug 2023 | ₹13.1t | ₹6.7t | ₹704.0b | 18.4x | 18.6x | 1.9x |
| Tue, 25 Jul 2023 | ₹12.2t | ₹6.8t | ₹681.4b | 17.5x | 17.9x | 1.8x |
| Thu, 22 Jun 2023 | ₹12.2t | ₹6.8t | ₹697.6b | 15.1x | 17.5x | 1.8x |
| Sat, 20 May 2023 | ₹11.4t | ₹6.7t | ₹709.1b | 15.3x | 16x | 1.7x |
| Mon, 17 Apr 2023 | ₹11.7t | ₹6.6t | ₹710.1b | 15x | 16.5x | 1.8x |
| Wed, 15 Mar 2023 | ₹11.3t | ₹6.6t | ₹709.8b | 14.8x | 15.9x | 1.7x |
| Fri, 10 Feb 2023 | ₹11.7t | ₹6.6t | ₹712.2b | 12x | 16.4x | 1.8x |
Price to Earnings Ratio
16.4x
Current Industry PE
- Investors are relatively neutral on the Indian Utilities industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 20.6x.
- The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
- The earnings for companies in the Utilities industry have grown 11% per year over the last three years.
- Revenues for these companies have grown 5.1% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Indian Utilities sector?
| IN Market | 0.61% | |
| Utilities | 2.88% | |
| Electric Utilities | 5.27% | |
| Water Utilities | 2.70% | |
| Renewable Energy | 2.21% | |
| Gas Utilities | 0.077% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 19.6x.
- Analysts are expecting annual earnings growth of 21.4%, which is higher than its past year's earnings growth of 10.0% per year.
- Investors are most pessimistic about the Gas Utilities industry, which is trading close to its 3-year average of 19.0x.
Forecasted Growth
- Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 21% over the next 5 years.
- This is better than its past earnings growth rate of 10.0% per year.
- In contrast, the Gas Utilities industry is expected to see its earnings grow by 9.1% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| POWERGRID Power Grid Corporation of India | ₹283.20 | 11.3% +₹268.3b | -0.9% | PE17x | |
| ADANIGREEN Adani Green Energy | ₹932.10 | 16.6% +₹219.1b | -5.2% | PE112.2x | |
| ADANIPOWER Adani Power | ₹143.62 | 6.8% +₹175.9b | 41.8% | PE25.2x | |
| ADANIENSOL Adani Energy Solutions | ₹974.40 | 14.8% +₹150.5b | 29.6% | PE52.1x | |
| NTPC NTPC | ₹358.55 | 4.0% +₹134.3b | 12.4% | PE14.4x |
