NTPC Balance Sheet Health
Financial Health criteria checks 1/6
NTPC has a total shareholder equity of ₹2,111.5B and total debt of ₹2,672.6B, which brings its debt-to-equity ratio to 126.6%. Its total assets and total liabilities are ₹5,586.4B and ₹3,474.9B respectively. NTPC's EBIT is ₹356.6B making its interest coverage ratio 2.6. It has cash and short-term investments of ₹80.5B.
Key information
126.57%
Debt to equity ratio
₹2.67t
Debt
| Interest coverage ratio | 2.6x |
| Cash | ₹80.54b |
| Equity | ₹2.11t |
| Total liabilities | ₹3.47t |
| Total assets | ₹5.59t |
Recent financial health updates
Analysis Article • Sep 28
These 4 Measures Indicate That NTPC (NSE:NTPC) Is Using Debt Extensively
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Jun 19
Here's Why NTPC (NSE:NTPC) Has A Meaningful Debt Burden
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Recent updates
Narrative Update • Jun 02
NTPC: Dividend And Storage Expansion Will Support Future Earnings Appeal
Analysts have nudged their price target for NTPC higher to about ₹436 from roughly ₹425, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News A board meeting is scheduled for May 23, 2026, to review the annual standalone and consolidated financial statements for the year ended March 31, 2026, and to consider a final dividend recommendation for FY 2025-26, subject to shareholder approval.Analysis Article • May 31
We Think You Should Be Aware Of Some Concerning Factors In NTPC's (NSE:NTPC) Earnings
NTPC Limited's ( NSE:NTPC ) healthy profit numbers didn't contain any surprises for investors. We think this is due to...Analysis Article • May 27
NTPC Limited Just Beat EPS By 15%: Here's What Analysts Think Will Happen Next
Last week saw the newest yearly earnings release from NTPC Limited ( NSE:NTPC ), an important milestone in the...Analysis Article • May 19
Do NTPC's (NSE:NTPC) Earnings Warrant Your Attention?
Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...Narrative Update • Apr 24
NTPC: Dividend Payout And Energy Storage Plans Will Support Future Appeal
Analysts have inched up their price target on NTPC to about ₹425 from roughly ₹424, reflecting slightly adjusted assumptions around the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News Board meeting scheduled on 28 March 2026 at 11:10 Indian Standard Time to review an investment proposal for a Battery Energy Storage System with a total capacity of 4.70 GWh and an estimated project cost of ₹58,219 million, along with other agenda items (company filing).Narrative Update • Apr 07
NTPC: Dividend Strength And Storage Investments Will Support Long Term Appeal
Analysts have kept NTPC's fair value estimate steady at ₹424.46, with a slightly higher discount rate and P/E assumption, as well as a small adjustment to revenue growth and profit margin expectations shaping this updated price target view. What's in the News A board meeting is scheduled for Mar 28, 2026, to review an investment proposal for a Battery Energy Storage System with 4.70 GWh capacity at an estimated project cost of ₹58,219m, along with other matters (Board Meeting).Narrative Update • Mar 23
NTPC: Dividend Strength And Gasification Projects Will Support Long Term Appeal
Analysts have lifted their price target for NTPC from ₹413.28 to ₹424.46, citing updated assumptions around the discount rate, revenue growth, profit margin and future P/E as key drivers of the change. What's in the News NTPC signed an MoU with Gujarat Mineral Development Corporation to explore coal and lignite gasification projects in Odisha and Gujarat.Analysis Article • Feb 03
Earnings Update: NTPC Limited (NSE:NTPC) Just Reported And Analysts Are Trimming Their Forecasts
It's been a good week for NTPC Limited ( NSE:NTPC ) shareholders, because the company has just released its latest...Analysis Article • Jan 31
NTPC Limited (NSE:NTPC) Looks Inexpensive But Perhaps Not Attractive Enough
When close to half the companies in India have price-to-earnings ratios (or "P/E's") above 24x, you may consider NTPC...Analysis Article • Jan 13
Return Trends At NTPC (NSE:NTPC) Aren't Appealing
There are a few key trends to look for if we want to identify the next multi-bagger. Firstly, we'd want to identify a...Narrative Update • Jan 05
NTPC: Dividend And Pumped Storage Expansion Will Drive Long Term Appeal
Analysts have raised their price target on NTPC to ₹413.28. This reflects slightly stronger expected revenue growth and a modestly lower discount rate, partially offset by a small reduction in projected profit margins and future valuation multiples.Narrative Update • Dec 21
NTPC: Dividend And Renewable Expansion Will Drive Stronger Long Term Appeal
Analysts have slightly reduced their price target on NTPC to approximately ₹413 from about ₹417, reflecting marginally higher perceived risk and a modestly softer long term growth outlook, even as profitability expectations remain broadly unchanged. What's in the News Board declares first interim dividend of INR 2.75 per share for FY 2025-26, reflecting confidence in earnings visibility (Board of Directors filing) Board meeting on 30 October 2025 to review unaudited Q2 and H1 FY 2025-26 financial results and to consider an interim dividend on equity share capital (company disclosure) NTPC signs MoU with Government of Gujarat to explore projects across conventional and renewable energy segments, strengthening its clean energy pipeline (Vibrant Gujarat Regional Conference announcement) Board to consider equity infusion of up to INR 2,444.39 crore into NEEPCO to fund three hydro and one solar project, supporting capacity expansion in the North East (board agenda) Proposal under review for two large municipal solid waste to torrefied charcoal projects in Faridabad and Gurugram, with a combined estimated investment of about INR 780 crore, advancing NTPC's waste-to-energy strategy (board agenda) Valuation Changes Consensus Analyst Price Target, or fair value estimate, has eased slightly to about ₹413 per share from roughly ₹417.Analysis Article • Dec 08
Does NTPC (NSE:NTPC) Deserve A Spot On Your Watchlist?
It's common for many investors, especially those who are inexperienced, to buy shares in companies with a good story...Analysis Article • Nov 02
NTPC Limited Just Missed EPS By 9.8%: Here's What Analysts Think Will Happen Next
NTPC Limited ( NSE:NTPC ) last week reported its latest second-quarter results, which makes it a good time for...Analysis Article • Oct 20
There's No Escaping NTPC Limited's (NSE:NTPC) Muted Earnings
NTPC Limited's ( NSE:NTPC ) price-to-earnings (or "P/E") ratio of 13.8x might make it look like a strong buy right now...Analysis Article • Sep 28
These 4 Measures Indicate That NTPC (NSE:NTPC) Is Using Debt Extensively
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Sep 10
Here's What To Make Of NTPC's (NSE:NTPC) Decelerating Rates Of Return
What trends should we look for it we want to identify stocks that can multiply in value over the long term? Amongst...Analysis Article • Aug 23
We Take A Look At Why NTPC Limited's (NSE:NTPC) CEO Has Earned Their Pay Packet
Key Insights NTPC will host its Annual General Meeting on 29th of August CEO Gurdeep Singh's total compensation...Analysis Article • Aug 01
NTPC Limited Just Beat Earnings Expectations: Here's What Analysts Think Will Happen Next
Last week saw the newest first-quarter earnings release from NTPC Limited ( NSE:NTPC ), an important milestone in the...Analysis Article • Jul 07
NTPC Limited's (NSE:NTPC) Business And Shares Still Trailing The Market
With a price-to-earnings (or "P/E") ratio of 13.9x NTPC Limited ( NSE:NTPC ) may be sending very bullish signals at the...Analysis Article • Jun 19
Here's Why NTPC (NSE:NTPC) Has A Meaningful Debt Burden
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...
New Narrative • Nov 07
Expanding Green Ventures And Innovating Energy For Sustainable Growth Success
NTPC's diversification into renewable energy and energy storage suggests potential for revenue growth and long-term earnings stability aligned with clean energy trends.Financial Position Analysis
Short Term Liabilities: NTPC's short term assets (₹945.1B) do not cover its short term liabilities (₹1,145.1B).
Long Term Liabilities: NTPC's short term assets (₹945.1B) do not cover its long term liabilities (₹2,329.9B).
Debt to Equity History and Analysis
Debt Level: NTPC's net debt to equity ratio (122.8%) is considered high.
Reducing Debt: NTPC's debt to equity ratio has reduced from 161.9% to 126.6% over the past 5 years.
Debt Coverage: NTPC's debt is not well covered by operating cash flow (19%).
Interest Coverage: NTPC's interest payments on its debt are not well covered by EBIT (2.6x coverage).
Balance Sheet
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/06/06 15:22 |
| End of Day Share Price | 2026/06/05 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2026/03/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
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Industry and Sector Metrics
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Analyst Sources
NTPC Limited is covered by 51 analysts. 10 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | 360 ONE Capital Market Private Limited |
| Rajesh Majumdar | 360 ONE Capital Market Private Limited |
| Satyadeep Jain | Ambit Capital |