Buy Or Sell Opportunity • Jun 13
Now 20% overvalued Over the last 90 days, the stock has fallen 7.9% to ₹354. The fair value is estimated to be ₹294, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 2.6% over the last 3 years. Earnings per share has grown by 13%. For the next 3 years, revenue is forecast to grow by 3.9% per annum. Earnings are forecast to decline by 5.0% per annum over the same time period. Announcement • May 30
Ntpc Limited Announces Cessation of Shri S K Suar as Executive Director, Effective May 31, 2026 NTPC Limited informed that Shri S K Suar, ceased to be Executive Director (Senior Management) due to superannuation, effective May 31, 2026. The change was pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Reported Earnings • May 24
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: ₹27.90 (up from ₹24.16 in FY 2025). Revenue: ₹1.87t (flat on FY 2025). Net income: ₹270.5b (up 16% from FY 2025). Profit margin: 14% (up from 12% in FY 2025). Revenue missed analyst estimates by 4.2%. Earnings per share (EPS) exceeded analyst estimates by 15%. Revenue is forecast to grow 5.2% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 15
NTPC Limited to Report Q4, 2026 Results on May 23, 2026 NTPC Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 23, 2026 Announcement • Feb 26
NTPC Limited (NSEI:NTPC) and Maharashtra State Power Generation Co. Ltd. completed the acquisition of Sinnar Thermal Power Limited from RattanIndia Power Limited. NTPC Limited (NSEI:NTPC) and Maharashtra State Power Generation Co. Ltd. entered into letter of intent to acquire Sinnar Thermal Power Limited from RattanIndia Power Limited on June 14, 2025. Adani Power Limited, JSW Energy Limited, Jindal Power Limited, Vedanta Limited, Torrent Power Limited and NTPC Limited signed a shareholder agreement to acquire Sinnar Thermal Power Limited from RattanIndia Power Limited for INR 38 billion on January 9, 2026. As of March 31, 2025, Sinnar Thermal Power Limited generated revenue of INR 0.
The transaction is subject to approval of bankruptcy court, National Company Law Tribunal, Delhi, and/or any other relevant regulatory authority, or tribunal, under applicable laws. The transaction is approved by the Committee of Creditors. As of November 28, 2026, the transaction has been approved by National Company Law Tribunal, Delhi.
NTPC Limited (NSEI:NTPC) and Maharashtra State Power Generation Co. Ltd. completed the acquisition of Sinnar Thermal Power Limited from RattanIndia Power Limited on February 24, 2026. Declared Dividend • Feb 04
Dividend of ₹2.75 announced Shareholders will receive a dividend of ₹2.75. Ex-date: 6th February 2026 Payment date: 25th February 2026 Dividend yield will be 2.4%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (36% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 2.2% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 31
Third quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Third quarter 2026 results: EPS: ₹5.66 (up from ₹5.57 in 3Q 2025). Revenue: ₹458.5b (up 1.8% from 3Q 2025). Net income: ₹54.9b (up 8.4% from 3Q 2025). Profit margin: 12% (in line with 3Q 2025). Revenue missed analyst estimates by 3.2%. Earnings per share (EPS) exceeded analyst estimates by 4.8%. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 22
NTPC Limited to Report Q3, 2026 Results on Jan 30, 2026 NTPC Limited announced that they will report Q3, 2026 results on Jan 30, 2026 Declared Dividend • Nov 01
Dividend increased to ₹2.75 Dividend of ₹2.75 is 10% higher than last year. Ex-date: 7th November 2025 Payment date: 25th November 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by earnings (35% earnings payout ratio) but not covered by cash flows (127% cash payout ratio). The dividend has increased by an average of 15% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 6.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 31
Second quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2026 results: EPS: ₹5.23 (down from ₹5.44 in 2Q 2025). Revenue: ₹452.6b (up 1.3% from 2Q 2025). Net income: ₹50.7b (down 3.9% from 2Q 2025). Profit margin: 11% (in line with 2Q 2025). Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 9.8%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 24
NTPC Limited to Report Q2, 2026 Results on Oct 30, 2025 NTPC Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Oct 30, 2025 Upcoming Dividend • Aug 28
Upcoming dividend of ₹3.35 per share Eligible shareholders must have bought the stock before 04 September 2025. Payment date: 28 September 2025. Payout ratio is a comfortable 35% and the cash payout ratio is 88%. Trailing yield: 2.5%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (2.0%). Announcement • Jul 30
NTPC Limited, Annual General Meeting, Aug 29, 2025 NTPC Limited, Annual General Meeting, Aug 29, 2025, at 10:30 Indian Standard Time. Reported Earnings • Jul 30
First quarter 2026 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2026 results: EPS: ₹6.20 (up from ₹5.65 in 1Q 2025). Revenue: ₹470.7b (down 3.0% from 1Q 2025). Net income: ₹60.1b (up 9.8% from 1Q 2025). Profit margin: 13% (up from 11% in 1Q 2025). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) exceeded analyst estimates by 12%. Revenue is forecast to grow 2.4% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 23
NTPC Limited to Report Q1, 2026 Results on Jul 29, 2025 NTPC Limited announced that they will report Q1, 2026 results on Jul 29, 2025 Announcement • Jun 21
NTPC Limited Announces the Retirement of Pradipta Kumar Mishra as Executive Director, Effective June 18, 2025 NTPC Limited announced that Shri Pradipta Kumar Mishra, Executive Director relieved from the services of the company, effective June 18, 2025 consequent upon acceptance of pre-mature retirement application. Announcement • May 26
NTPC Limited Recommends Final Dividend for the Financial Year Ended March 31, 2025 NTPC Limited have recommended the final dividend at the rate of 33.50% or INR 3.35 per share for the financial year ended March 31, 2025, subject to the approval of the Shareholders in the ensuing Annual General Meeting. The aforesaid final dividend is in addition to the first interim dividend at the rate of INR 2.50 per share and second interim dividend at the rate of INR 2.50 per share of face value of INR 10 each for the financial year 2024-25 paid in November'24 and February'25, respectively. Reported Earnings • May 25
Full year 2025 earnings: EPS exceeds analyst expectations Full year 2025 results: EPS: ₹24.16 (up from ₹21.46 in FY 2024). Revenue: ₹1.91t (up 6.9% from FY 2024). Net income: ₹234.2b (up 13% from FY 2024). Profit margin: 12% (in line with FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.6%. Revenue is forecast to stay flat during the next 3 years compared to a 15% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 19
NTPC Limited to Report Fiscal Year 2025 Results on May 24, 2025 NTPC Limited announced that they will report fiscal year 2025 results at 4:00 PM, Indian Standard Time on May 24, 2025 Announcement • Apr 01
NTPC Limited Announces Superannuation of Harekrushna Dash as Executive Director on 31 March 2025 NTPC Limited announced superannuation of Shri Harekrushna Dash as Executive Director on 31 March 2025. Announcement • Feb 01
NTPC Limited Announces Superannuation of Manohar Krishna Asthana and S Govindarajan as Executive Directors NTPC Limited announced that Superannuation of Manohar Krishna Asthana and S Govindarajan as Executive Directors of the company on 31st January 2025. Declared Dividend • Jan 29
Dividend of ₹2.50 announced Shareholders will receive a dividend of ₹2.50. Ex-date: 31st January 2025 Payment date: 18th February 2025 Dividend yield will be 2.6%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (47% earnings payout ratio) and cash flows (49% cash payout ratio). The dividend has increased by an average of 1.8% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 12% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jan 27
Third quarter 2025 earnings: EPS misses analyst expectations Third quarter 2025 results: EPS: ₹5.22 (down from ₹5.32 in 3Q 2024). Revenue: ₹456.0b (up 6.5% from 3Q 2024). Net income: ₹50.6b (down 1.8% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.1%. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 21
NTPC Limited to Report Q3, 2025 Results on Jan 25, 2025 NTPC Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Jan 25, 2025 Announcement • Jan 01
NTPC Limited Announces Director Changes NTPC Limited announced change in Senior Management. The company announced Harjit Singh, Executive Director and Kedar Ranjan Pandu, Executive Director has Superannuated on 31 December 2024. Announcement • Dec 02
NTPC Limited Announces Superannuation of Bodanki Srinivasa Rao and Subhra Kumar Ghosh, Executive Directors NTPC Limited announced that Bodanki Srinivasa Rao and Subhra Kumar Ghosh, Executive Directors Superannuated on
November 30, 2024. Announcement • Oct 29
Mahagenco-NTPC Reportedly Top Bidder for Sinnar Thermal A consortium of Maharashtra state government-owned power generation company Maharashtra State Power Generation Co. Ltd. (Mahagenco) and public sector NTPC Limited (NSEI:NTPC) has emerged as the top bidder to take over the 1,350 MW Sinnar Thermal Power Limited plant near Nashik. Mahagenco's bid of INR 38,000 million is above the second-placed Adani Power Limited (NSEI:ADANIPOWER) in the initial round of bids. Lenders are evaluating legal and other compliances of the bidders, following which negotiations with individual bidders will start, said people familiar with the process. "The early bids put the Mahagenco-NTPC partnership at the top. The second-placed bidder is behind as its bid is less than INR 30,000 million. But the plans are still at the initial stage and we could see revisions since all parties interested are serious players in this sector," said a person familiar with the process. Resolution professional (RP) Rahul Jindal did not reply to an email seeking comment. Commodities company Vedanta Group, Naveen Jindal's Jindal Power, Kolkata-based Orissa Metaliks and Varde Partners' Singapore-based arm VFSI Holdings are among seven companies that have made a formal bid to take over the distressed 1,350 MW Sinnar Thermal Power. Individual bidders could not be contacted. The Mahagenco-NTPC combine is best placed because it runs the 2,190 MW Koradi power plant near Nagpur and can use its existing infrastructure to supply coal and run the plant. All bidders have submitted an initial resolution plan, including a INR 100 million deposit. BoB Caps, the investment banking arm of Bank of Baroda, is the advisor to the committee of creditors (CoC), while Shardul Amarchand Mangaldas & Co is the legal advisor. Trilegal is the legal advisor to the RP. Power Finance Corp. (INR 65,530 million) and its subsidiary REC (INR 52,620 million) are the top two creditors of the company, which owes total dues of INR 159,090 million. Punjab National Bank, Axis Bank, Canara Bank, Bank of India and Life Insurance Corp. are other creditors to the company. Announcement • Oct 25
NTPC Limited Approves First Interim Dividend for the Financial Year 2024-25, Payable on 18 November 2024 The Board of Directors of NTPC Limited in its meeting decided, to pay first interim dividend at the rate of 25% INR 2.50/- per share) on the face value of paid-up equity shares of INR 10/- each for the financial year 2024-25 in their board meeting held on October 24, 2024. The date of payment /dispatch of dividend shall be 18 November 2024. Reported Earnings • Oct 25
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: ₹5.44 (up from ₹4.76 in 2Q 2024). Revenue: ₹447.0b (flat on 2Q 2024). Net income: ₹52.7b (up 14% from 2Q 2024). Profit margin: 12% (up from 10% in 2Q 2024). Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) exceeded analyst estimates by 3.6%. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 44% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 19
NTPC Limited to Report Q2, 2025 Results on Oct 24, 2024 NTPC Limited announced that they will report Q2, 2025 results on Oct 24, 2024 Announcement • Oct 17
Adani, JPL, Vedanta, Others Reportedly in Race for Sinnar Thermal India’s largest private sector power producer Adani Power Limited (NSEI:ADANIPOWER), Naveen Jindal’s Jindal Power Limited (JPL), the Vedanta Group, Kolkata-based Orissa Metaliks Private Limited and Varde Partners’ Singapore-based arm VFSI Holdings Pte. Ltd. are among seven companies that have made a formal bid to take over the distressed 1,350 MW Sinnar Thermal Power. Maharashtra government-owned Maharashtra State Power Generation Co. Ltd. (Mahagenco) and India’s largest power producer NTPC Limited (NSEI:NTPC) have also submitted a joint bid for the plant, which is based near Nashik, two people familiar with the process said. The power plant, a subsidiary of RattanIndia Power, was initially developed by Indiabulls Power and was admitted to insolvency in January following a plea by Shapoorji Pallonji & Co for non-payment of dues after constructing a part of the plant. “Six resolution plans were received earlier this month and are still being evaluated for compliance under the bankruptcy code. The value of these bids is yet to be ascertained as there could be some to and fro between the resolution professional and creditors,” said a person aware of the details. All bidders have submitted an initial resolution plan, including a INR 0.10 billion deposit. Separate emails sent to resolution professional Rahul Jindal and all the seven bidders mentioned above did not elicit any response until press time. Power Finance Corp. (INR 65.53 billion) and its subsidiary Rural Electrification Corp. (INR 52.62 billion) are the top two creditors of the company, which owes total dues of INR 159.09 billion. Punjab National Bank, Axis Bank, Canara Bank, Bank of India, and Life Insurance Corp. are other creditors to the company. The plant, based in Sinnar special economic zone (SEZ), is nearly 50 km from Nashik city and 4 km from a national highway. It is a rare power producer readily available in India where building a green field project is both time-consuming and costly. Though the plant is now defunct, it has 1,600 acres around it, which means any company buying it can double its capacity by adding another 1,350 MW. However, disputes related to the land, supply of coal and a non-existent power purchase agreement (PPA) could dent valuation for creditors, people familiar with the plant said. “There are right-of-way issues and also no railway linkage to the plant. Building a 150 to 200 km rail line will cost hundreds of crores and will have to be factored in by any prospective buyer,” said a second person aware of the details. Announcement • Oct 01
NTPC Limited Announces Superannuation of Executive Directors NTPC Limited announced change in Senior Management is informed as Shambhu Nath Tripathi and Udayan Kumar superannuated as Executive Director on 30th September, 2024. Announcement • Aug 31
NTPC Limited Appoints Mahabir Prasad as Government Nominee Director NTPC Limited at its AGM held on 29 August 2024 appointed Shri Mahabir Prasad as Government Nominee Director of the Company. Announcement • Aug 14
NTPC Limited Appoints Mahabir Prasad as Additional Director NTPC Limited announced that in terms of the Order dated 2nd August 2024, issued by the Minister of Power, Government of India, the Board of Directors of NTPC Limited has approved the appointment of Shri Mahabir Prasad, Joint Secretary & Financial Advisor, Ministry of Power as an Additional Director (Govt. Nominee Director) on the Board of NTPC Limited with effect from 14th August 2024 till his tenure in Ministry of Power or until further orders, whichever is earlier. Shri Mahabir Prasad aged 52 years, is 1998 batch officer of Indian Railway Accounts Service. Shri Mahabir Prasad has done M.Sc. (Statistics) from University of Delhi and is a law graduate. He has held significant positions such as Financial Advisor and Senior Divisional Accounts Officer in the Ministry of Railways, Director in the Ministry of Steel and Chief Accounts Officer in the Delhi Development Authority (DDA). He was associated with first PPP project (Pipavav Railway Corporation Limited) of Railway in his early tenure of Railway. He has rich experience in project management, financial evaluation of large projects, budgeting, policy formulation, etc. Announcement • Aug 03
Adani Reportedly Tops KSK Mahanadi Bidder List Adani Power Limited (NSEI:ADANIPOWER) has offered the highest bid of INR 270,000 million for (KSK Mahanadi Power Company Limited) KSK Mahanadi Power’s 1,800-megawatt plant that’s undergoing insolvency proceedings, people with knowledge of the matter told ET. The Adani offer already ensures a 92% recovery for the lenders. Banks had received a total of 10 financial bids for the thermal power company by August 1, 2024 evening. Other bidders include Capri Global Holdings Private Limited, Coal India Limited (NSEI:COALINDIA), NTPC Limited (NSEI:NTPC), Vedanta Limited (NSEI:VEDL), JSW Energy Limited (BSE:533148), Naveen Jindal-owned Jindal Steel & Power Limited (NSEI:JINDALSTEL), iLab India Special Fund, Rashmi Metaliks Limited and Sherisha Technologies Private Limited, said the people cited above. Announcement • Aug 01
NTPC Limited Announces Superannuation of Dilip Kumar Dubey, Executive Director NTPC Limited announced Superannuation of Shri Dilip Kumar Dubey, Executive Director on 31 July 2024. Declared Dividend • Jul 31
Dividend increased to ₹3.25 Dividend of ₹3.25 is 8.3% higher than last year. Ex-date: 7th August 2024 Payment date: 11th September 2024 Dividend yield will be 1.9%, which is higher than the industry average of 1.3%. Sustainability & Growth Dividend is covered by both earnings (36% earnings payout ratio) and cash flows (73% cash payout ratio). The dividend has increased by an average of 7.2% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jul 30
NTPC Limited, Annual General Meeting, Aug 29, 2024 NTPC Limited, Annual General Meeting, Aug 29, 2024, at 10:30 Indian Standard Time. Reported Earnings • Jul 28
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: ₹5.65 (up from ₹5.03 in 1Q 2024). Revenue: ₹485.2b (up 13% from 1Q 2024). Net income: ₹54.7b (up 12% from 1Q 2024). Profit margin: 11% (in line with 1Q 2024). Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 24
NTPC Limited to Report Q1, 2025 Results on Jul 27, 2024 NTPC Limited announced that they will report Q1, 2025 results on Jul 27, 2024 Board Change • Jun 30
Less than half of directors are independent There are 9 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 9 new directors. No experienced directors. 1 highly experienced director. 4 independent directors (6 non-independent directors). Chairman of the Board & MD Gurdeep Singh is the most experienced director on the board, commencing their role in 2016. Additional Independent Non-Official Director Sangitha Varier was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Jun 02
NTPC Limited Announces Superannuation of M Raghu Ram as Executive Director NTPC Limited announced superannuation of M Raghu Ram as Executive Director, effective from June 1, 2024. Announcement • May 25
NTPC Limited Recommends Final Dividend for the Financial Year 2023-24 The board of directors of NTPC Limited at its meeting held on 24 May 2024, recommended the final dividend at the rate of 32.50% (INR 3.25 per share) for the financial year 2023-24, subject to the approval of the Shareholders in the upcoming Annual General Meeting. The aforesaid final dividend is in addition to the first interim dividend at the rate of INR 2.25 per share & second interim dividend at the rate of INR 2.25 per share of face value of INR 10 each for the financial year 2023-24 paid in November'23 & February'24, respectively. Announcement • May 17
NTPC Limited to Report Q4, 2024 Results on May 24, 2024 NTPC Limited announced that they will report Q4, 2024 results on May 24, 2024 Announcement • May 01
NTPC Limited Announces Superannuation of Avnish Srivastava from the Post of Executive Director NTPC Limited announced superannuation of Shri Avnish Srivastava from the post of Executive Director (Senior Management Personnel - One level below the Board of Directors) with effect from April 30, 2024. Announcement • Apr 02
NTPC Limited Announces Superannuation of Karunakar Das and Ravi Prakash from the Post of Executive Director NTPC Limited announced superannuation of Shri Karunakar Das and Shri Ravi Prakash from the post of Executive Director (Senior Management Personnel - One level below the Board of Directors) with effect from March 31, 2024. Price Target Changed • Mar 07
Price target increased by 7.1% to ₹364 Up from ₹340, the current price target is an average from 23 analysts. New target price is approximately in line with last closing price of ₹352. Stock is up 96% over the past year. The company is forecast to post earnings per share of ₹18.94 for next year compared to ₹17.44 last year. Announcement • Mar 01
NTPC Limited Announces Changes in Senior Management NTPC Limited announced details of senior officials of the company who have superannuated from the post of Executive Director i.e., Senior Management Personnel - One level below the Board of Directors) effective 29.2.2024 are submitted as follows: Shri Mohit Bhargava - Executive Director (Senior Management); Shri Jasbir Singh Ahlawat - Executive Director (Senior Management); Shri Sunil Kumar - Executive Director (Senior Management); Shri Bishnu Charan Polai - Executive Director (Senior Management); Shri Abhay Kumar Samaiyar - Executive Director (Senior Management). Announcement • Feb 28
NTPC Limited Appoints Ravindra Kumar as Director (Operations) NTPC Limited announced that In pursuance of Article 41 of the Articles of Association of NTPC Limited, Ministry of Power has, vide its Order No. 8/2/2023-Th-1 dated 25th February 2024, conveyed approval of the Competent Authority for appointment of Shri Ravindra Kumar, Executive Director, NTPC to the post of Director (Operations), NTPC Limited w.e.f. the date of his assumption of charge of the post i.e. 26th February 2024 till the date of his superannuation i.e., October 31, 2027 or until further orders, whichever is earlier. Shri Ravindra Kumar (DIN: 10523088) has taken charge as Director (Operations), NTPC on 26th February 2024. Shri Ravindra Kumar completed B.Sc. (Engineering) in Mechanical engineering from BIT Sindri in 1988. Prior to joining as Director (Operations), NTPC Limited, he was OSD (Officer on Special Duty) to Director (Operations), NTPC Limited. He joined NTPC Limited as Graduate Engineer Trainee officer in 1989 and has more than 34 years of diverse and versatile experience in Commissioning, O&M, Engineering and Project management. Shri Ravindra Kumar has worked in various capacities in O&M function at NTPC Limited, Kahalgaon Project. He has exposure of working at Corporate Centre in Engineering department and as a technical support to Director (Technical). He was actively involved in development of 1st Maitree supercritical power project of Bangladesh India Friendship Power Company Ltd. (BIFPCL), Bangladesh. During his tenure as Chief Technical Officer (CTO), he spearheaded all Engineering, erection, commissioning, and O&M activities of 660 MW 1st Unit of BIFPCL. As Chief Executive Officer (CEO), Patratu Vidyut Utpadan Nigam Limited, he expedited various construction and erection activities. He is a professional with Corporate and Site experience, people-centric approach, knowledge, and experience of the entire power sector. Announcement • Feb 01
NTPC Limited Announces Cessation of Shri Ramesh Babu V. as Director NTPC Limited announced cessation of Shri Ramesh Babu V. as Director, effective from January 31, 2024 on attaining the age of superannuation. Price Target Changed • Jan 31
Price target increased by 8.6% to ₹337 Up from ₹311, the current price target is an average from 22 analysts. New target price is 6.2% above last closing price of ₹318. Stock is up 87% over the past year. The company is forecast to post earnings per share of ₹18.86 for next year compared to ₹17.44 last year. Reported Earnings • Jan 30
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹5.32 (up from ₹4.93 in 3Q 2023). Revenue: ₹435.7b (down 2.3% from 3Q 2023). Net income: ₹51.6b (up 7.9% from 3Q 2023). Profit margin: 12% (up from 11% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • Jan 25
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 33% to ₹315. The fair value is estimated to be ₹258, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 14%. Revenue is forecast to grow by 7.7% in 2 years. Earnings are forecast to grow by 12% in the next 2 years. Announcement • Jan 19
NTPC Limited to Report Q3, 2024 Results on Jan 29, 2024 NTPC Limited announced that they will report Q3, 2024 results on Jan 29, 2024 Price Target Changed • Jan 07
Price target increased by 7.6% to ₹306 Up from ₹284, the current price target is an average from 23 analysts. New target price is approximately in line with last closing price of ₹315. Stock is up 86% over the past year. The company is forecast to post earnings per share of ₹19.28 for next year compared to ₹17.44 last year. Announcement • Jan 01
NTPC Limited Announces Cessation of Ashish Upadhyaya as Government Nominee Director NTPC Limited announced that Consequent upon relieving from the post of Special Secretary & Financial Advisor, Ministry of Power, Shri Ashish Upadhyaya (DIN: 06855349) has ceased to be Government Nominee Director of NTPC Limited on December 31, 2023 (A/N). Reported Earnings • Oct 30
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ₹4.76 (up from ₹3.44 in 2Q 2023). Revenue: ₹449.8b (up 1.8% from 2Q 2023). Net income: ₹46.1b (up 38% from 2Q 2023). Profit margin: 10% (up from 7.6% in 2Q 2023). The increase in margin was primarily driven by higher revenue. Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) also surpassed analyst estimates by 8.2%. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 38% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 20
NTPC Limited to Report Q2, 2024 Results on Oct 28, 2023 NTPC Limited announced that they will report Q2, 2024 results on Oct 28, 2023 Announcement • Aug 05
NTPC Limited Recommends Final Dividend for the Financial Year 2023 NTPC Limited recommended final dividend @ 30% (INR 3.00 per equity share of INR 10) as recommended by the Board of Directors be and is hereby declared out of the profits of the Company for the financial year 2022-23. Upcoming Dividend • Aug 04
Upcoming dividend of ₹3.00 per share at 3.3% yield Eligible shareholders must have bought the stock before 11 August 2023. Payment date: 29 September 2023. Payout ratio is a comfortable 42% and this is well supported by cash flows. Trailing yield: 3.3%. Within top quartile of Indian dividend payers (1.5%). In line with average of industry peers (3.0%). Price Target Changed • Aug 02
Price target increased by 8.0% to ₹226 Up from ₹209, the current price target is an average from 23 analysts. New target price is approximately in line with last closing price of ₹219. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₹18.84 for next year compared to ₹17.44 last year. Reported Earnings • Jul 31
First quarter 2024 earnings: EPS in line with expectations, revenues disappoint First quarter 2024 results: EPS: ₹5.03 (up from ₹4.06 in 1Q 2023). Revenue: ₹430.8b (flat on 1Q 2023). Net income: ₹48.7b (up 24% from 1Q 2023). Profit margin: 11% (up from 9.1% in 1Q 2023). Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has increased by 35% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 25
NTPC Limited, Annual General Meeting, Aug 30, 2023 NTPC Limited, Annual General Meeting, Aug 30, 2023, at 10:30 Indian Standard Time. Announcement • Jul 22
NTPC Limited Recommends Final Dividend for Financial Year 2022-23, Payable on or After 12 September 2023 NTPC Limited informed that the Company has fixed 11 August 2023 as Record date for the purpose of ascertaining the entitlement of Members for the Final Dividend of INR 3.00 (Rupees Three only) per share (on the face value of INR 10/- each) on the equity shares of the Company for the financial year 2022-23 as recommended by the Board of Directors of the Company in their meeting held on 19 May 2023. If the final dividend, as recommended by the Board of Directors, is approved at the upcoming Annual General Meeting, payment of such dividend, subject to deduction of tax at source, will be made on or after 12 September 2023. Reported Earnings • May 20
Full year 2023 earnings released: EPS: ₹17.44 (vs ₹17.20 in FY 2022) Full year 2023 results: EPS: ₹17.44 (up from ₹17.20 in FY 2022). Revenue: ₹1.78t (up 34% from FY 2022). Net income: ₹169.1b (up 1.4% from FY 2022). Profit margin: 9.5% (down from 13% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 2 years compared to a 9.3% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 24% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jan 29
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹4.93 (up from ₹4.64 in 3Q 2022). Revenue: ₹446.0b (up 34% from 3Q 2022). Net income: ₹47.8b (up 6.2% from 3Q 2022). Profit margin: 11% (down from 14% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 13%. Earnings per share (EPS) also surpassed analyst estimates by 75%. Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 15% per year and the company’s share price has also increased by 15% per year. Announcement • Dec 16
NTPC to Sell Stake in Green Energy Business NTPC Ltd. (NSEI:NTPC) aims to sell a 20% stake in its green energy business this fiscal year, expecting to raise up to INR 30 billion ($363.97 million), three government sources said. The deal marks the first green transaction by an Indian state company, which has drawn interest from investors, such as Canada Pension Plan Investment Board (CPPIB), Malaysia's Petronas and Brookfield. The decision to sell 20% to strategic investors will be followed by an initial public offering of NTPC Green Energy Ltd. (NGEL) next financial year, two of the sources, senior government officials with direct knowledge of the matter, said. NTPC was initially planning to raise funds through a public share sale. The company is now looking at first selling a 20% stake through a private placement as this would provide a valuation for an IPO, the third source said. The size of the stake sale and the deal value has not been previously reported. Board Change • Nov 16
Less than half of directors are independent There are 10 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 10 new directors. 2 experienced directors. No highly experienced directors. 4 independent directors (8 non-independent directors). Chairman of the Board & MD Gurdeep Singh is the most experienced director on the board, commencing their role in 2016. Additional Independent Non-Official Director Sangitha Varier was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Oct 30
NTPC Limited Appoints Arun Kumar as Company Secretary and Compliance Officer The Board of Directors of NTPC Limited has appointed Shri Arun Kumar (ACS No. 23236), Additional General Manager as Company Secretary & Compliance Officer of the company with immediate effect, as an interim arrangement till appointment of Company Secretary on regular basis. Shri Arun Kumar (aged 46 years) is Post graduate in Commerce with Associate Membership of the Institute of Company Secretaries of India (JCSI). He is also a Fellow Member of the Institute of Cost Accountants of India (ICAI) and Certified Associate of Indian Institute of Bankers (CAIIB). He has a career spanning over 25 years having experience in the various functional areas like Finance, Cost Accounts, Marketing Estimates, Banking, Accounts, Audit, Resource Mobilisation & Treasury, Loan & Recovery, Banking, Company Secretariat, etc. He has handled various corporate actions, Bonus, Buy back, mergers etc. His work experience has been exclusively in Central PSUs/PSBs and attributes to different class of companies like Heavy Engineering, Refinery & Petrochemicals, Banking, Power and Telecommunication. Reported Earnings • Oct 30
Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2023 results: EPS: ₹3.44 (down from ₹3.71 in 2Q 2022). Revenue: ₹446.8b (up 38% from 2Q 2022). Net income: ₹33.4b (down 7.2% from 2Q 2022). Profit margin: 7.5% (down from 11% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 33%. Earnings per share (EPS) missed analyst estimates by 29%. Revenue is forecast to grow 7.8% p.a. on average during the next 3 years, compared to a 8.8% growth forecast for the Renewable Energy industry in Asia. Over the last 3 years on average, earnings per share has increased by 13% per year and the company’s share price has also increased by 13% per year. Announcement • Oct 21
NTPC Limited to Report Q2, 2023 Results on Oct 29, 2022 NTPC Limited announced that they will report Q2, 2023 results on Oct 29, 2022 Announcement • Sep 07
NTPC Limited (NSEI:NTPC) acquired 50% stake in Jhabua Power Limited for INR 9.25 billion. NTPC Limited (NSEI:NTPC) acquired 50% stake in Jhabua Power Limited for INR 9.25 billion on September 5, 2022. NTPC paid INR 3.25 billion for equity and INR 6 billion for non-convertible debentures. The consideration was paid in cash. The transaction has been approved by NCLT and CCI. The turnover of the JPL for the year 2021-2022 is INR 15.84 billion.NTPC Limited (NSEI:NTPC) completed the acquisition of 50% stake in Jhabua Power Limited on September 5, 2022. Announcement • Aug 03
NTPC Limited, Annual General Meeting, Aug 30, 2022 NTPC Limited, Annual General Meeting, Aug 30, 2022, at 10:30 Indian Standard Time. Reported Earnings • Jul 30
First quarter 2023 earnings released First quarter 2023 results: Net income: ₹39.4b (up 15% from 1Q 2022). Announcement • Jul 23
NTPC Limited to Report Q1, 2023 Results on Jul 29, 2022 NTPC Limited announced that they will report Q1, 2023 results on Jul 29, 2022 Announcement • Jul 22
NTPC Limited Appoints Jaikumar Srinivasan as Director (Finance) NTPC Limited announced that approval of the Competent Authority for appointment of Shri Jaikumar Srinivasan, Director (Finance), NLC India Limited to the post of Director (Finance), NTPC Limited with effect from the date of his assumption of charge of the post till the date of his superannuation or until further orders, whichever is earlier. Shri Jaikumar Srinivasan has taken charge as Director (Finance), NTPC on 21 July, 2022. He is a Commerce Graduate and an Associate Member of the Institute of Cost Accountants of India. Shri Jaikumar Srinivasan has more than 30 years of experience in Power and Mining sector in State and Central PSUs in the field of Finance, Accounts, Taxation, Commercial, Electricity regulation, Renewables, IT, Project development etc. with 8 years Board level exposure. Before his appointment as Director (Finance), NTPC Limited, he has served as Director (Finance) of NLC India Limited. He has also served as Director (Finance) of Maharashtra State Electricity and Distribution Company Limited, prior to which he was the Director (Finance) of Maharashtra State Power Generation Company (MAHAGENCO), Govt. of Maharashtra entities. He also served as part time Director in Mahaguj Colliery Company Limited, UCM Coal Company Ltd. and other subsidiary companies of MAHAGENCO. Announcement • Jul 11
NTPC Aims to Raise INR 50 Billion Via Stake Sale in Green Arm NTPC Limited (NSEI:NTPC) plans to raise INR 50 billion by selling a stake in a newly created green energy arm, according to people aware of the matter. The state-owned power generation giant has engaged SBI Capital Markets to advise on the sale process, which could be formally launched in October, these sources said. Feelers have been sent to Middle East-based sovereign wealth funds of Abu Dhabi and Kuwait, as well as pension funds of Canada. NTPC is keen to retain a majority stake in the arm after infusion of funds. The stake sale is expected to attract strong interest as the company has sovereign backing.