New Risk • Jul 26
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.7x net interest cover). Revenue is less than US$1m. Reported Earnings • Jul 24
First quarter 2027 earnings released: EPS: ₹0.36 (vs ₹0.26 in 1Q 2026) First quarter 2027 results: EPS: ₹0.36 (up from ₹0.26 in 1Q 2026). Revenue: ₹11.2b (up 65% from 1Q 2026). Net income: ₹3.05b (up 38% from 1Q 2026). Profit margin: 27% (down from 32% in 1Q 2026). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Renewable Energy industry in India. Duyuru • Jul 16
NTPC Green Energy Limited to Report Q1, 2027 Results on Jul 22, 2026 NTPC Green Energy Limited announced that they will report Q1, 2027 results on Jul 22, 2026 Major Estimate Revision • May 29
Consensus revenue estimates fall by 13% The consensus outlook for revenues in fiscal year 2027 has deteriorated. 2027 revenue forecast decreased from ₹72.0b to ₹62.9b. EPS estimate fell from ₹1.41 to ₹1.13 per share. Net income forecast to grow 81% next year vs 32% growth forecast for Renewable Energy industry in India. Consensus price target broadly unchanged at ₹104. Share price was steady at ₹104 over the past week. Reported Earnings • May 23
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹0.62. Revenue: ₹30.4b (up 37% from FY 2025). Net income: ₹5.23b (up 9.9% from FY 2025). Profit margin: 17% (down from 22% in FY 2025). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 8.8%. Earnings per share (EPS) also missed analyst estimates by 24%. Revenue is forecast to grow 57% p.a. on average during the next 2 years, compared to a 19% growth forecast for the Renewable Energy industry in India. Duyuru • May 19
NTPC Green Energy Limited to Report Fiscal Year 2026 Results on May 22, 2026 NTPC Green Energy Limited announced that they will report fiscal year 2026 results on May 22, 2026 Major Estimate Revision • Feb 05
Consensus revenue estimates fall by 11% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹36.6b to ₹32.6b. EPS estimate fell from ₹1.10 to ₹0.95 per share. Net income forecast to grow 95% next year vs 22% growth forecast for Renewable Energy industry in India. Consensus price target down from ₹106 to ₹101. Share price fell 6.4% to ₹86.39 over the past week. Reported Earnings • Jan 30
Third quarter 2026 earnings released: EPS: ₹0.02 (vs ₹0.08 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.02 (down from ₹0.08 in 3Q 2025). Revenue: ₹6.84b (up 18% from 3Q 2025). Net income: ₹174.8m (down 73% from 3Q 2025). Profit margin: 2.6% (down from 11% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Duyuru • Jan 22
NTPC Green Energy Limited to Report Q3, 2026 Results on Jan 29, 2026 NTPC Green Energy Limited announced that they will report Q3, 2026 results on Jan 29, 2026 Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: ₹0.10 (vs ₹0.061 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.10 (up from ₹0.061 in 2Q 2025). Revenue: ₹6.57b (up 30% from 2Q 2025). Net income: ₹875.9m (up 130% from 2Q 2025). Profit margin: 13% (up from 7.5% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 38% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Duyuru • Oct 24
NTPC Green Energy Limited to Report Q2, 2026 Results on Oct 29, 2025 NTPC Green Energy Limited announced that they will report Q2, 2026 results on Oct 29, 2025 Duyuru • Aug 29
NTPC Green Energy Limited Approves Appointment of Shanmugha Sundaram Kothandapani as Director NTPC Green Energy Limited at its AGM held on August 28, 2025 approved to appoint Shri Shanmugha Sundaram Kothandapani, Director (Projects), who retires by rotation as a Director. Duyuru • Aug 06
NTPC Green Energy Limited, Annual General Meeting, Aug 28, 2025 NTPC Green Energy Limited, Annual General Meeting, Aug 28, 2025, at 10:30 Indian Standard Time. Major Estimate Revision • Aug 04
Consensus EPS estimates fall by 15% The consensus outlook for earnings per share (EPS) in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹39.8b to ₹36.8b. EPS estimate also fell from ₹1.30 per share to ₹1.10 per share. Net income forecast to grow 108% next year vs 24% growth forecast for Renewable Energy industry in India. Consensus price target broadly unchanged at ₹100.00. Share price fell 2.0% to ₹105 over the past week. Reported Earnings • Jul 29
First quarter 2026 earnings released: EPS: ₹0.26 (vs ₹0.24 in 1Q 2025) First quarter 2026 results: EPS: ₹0.26 (up from ₹0.24 in 1Q 2025). Revenue: ₹6.80b (up 18% from 1Q 2025). Net income: ₹2.20b (up 59% from 1Q 2025). Profit margin: 32% (up from 24% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 43% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Renewable Energy industry in India. Duyuru • Jul 23
NTPC Green Energy Limited to Report Q1, 2026 Results on Jul 28, 2025 NTPC Green Energy Limited announced that they will report Q1, 2026 results on Jul 28, 2025 Duyuru • Jul 02
NTPC Green Energy Limited Appoints Manoj Dubey and Shri Kishore Kumar Hota as Chief General Manager Effective from June 30, 2025 NTPC Green Energy Limited informed that Shri Manoj Dubey and Shri Kishore Kumar Hota have been assigned the role of Chief General Manager (CGM) (i.e. one level below the CEO) w.e.f. 30.06.2025. Accordingly, they will be considered as part of Senior Management. Shri Manoj Dubey is B.E. in Mechanical Engineering and M.E. in Manufacturing Engineering. He is also having a Post Graduate Diploma in Personnel Management. He is having experience of more than 35 years in power sector. Shri Kishore Kumar Hota is B.Sc. in Mechanical Engineering and a Post Graduate Diploma in Finance. He is having over 35 years of extensive experience in operations and fuel management in power sector. Board Change • Jun 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Director of Finance & Executive Director Jaikumar Srinivasan is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹0.67 (vs ₹0.73 in FY 2024) Full year 2025 results: EPS: ₹0.67. Revenue: ₹24.7b (up 26% from FY 2024). Net income: ₹4.75b (up 38% from FY 2024). Profit margin: 19% (up from 18% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 40% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Duyuru • May 16
NTPC Green Energy Limited to Report Fiscal Year 2025 Results on May 21, 2025 NTPC Green Energy Limited announced that they will report fiscal year 2025 results on May 21, 2025 Board Change • Apr 01
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Director of Finance & Executive Director Jaikumar Srinivasan is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Duyuru • Jan 22
NTPC Green Energy Limited to Report Q3, 2025 Results on Jan 25, 2025 NTPC Green Energy Limited announced that they will report Q3, 2025 results on Jan 25, 2025 Duyuru • Dec 05
ONGC, NTPC Green JV Reportedly Set to Buy Ayana Renewable for $750 Million Ongc NTPC Green Private Limited (ONGPL), an equal joint venture between ONGC Green Limited and NTPC Green Energy Limited (NSEI:NTPCGREEN), is set to acquire a 100% stake in Ayana Renewable Power Private Limited for $700 million - $750 million, according to people with knowledge of the matter. The JV has nearly completed the negotiations with Ayana's current shareholders-National Investment and Infrastructure Fund Limited (NIIF) (51%), British International Investment plc (BII) (32%) and EverSource Capital Group (17%)-on the terms of the sale, these people said. ONGPL will likely sign the share purchase agreement in a fortnight to purchase Ayana, they said. The deal pegs the enterprise value of Ayana at $1.7 billion - $1.8 billion, people said. ONGC, NTPC, NIIF, BII and EverSource didn't offer comment for the story. ONGC, JSW Neo Energy and Sembcorp were shortlisted to submit binding bids for Ayana in August. Sembcorp sought a deviation in the bidding process and went out of the race while JSW and ONGC submitted bids. ONGC emerged as the top bidder and teamed up with NTPC. Buy Or Sell Opportunity • Dec 04
Now 21% overvalued The stock has been flat over the last 90 days, currently trading at ₹148. The fair value is estimated to be ₹122, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 91% over the last year. Earnings per share has declined by 78%. Duyuru • May 17
ONGC, NTPC Green Reportedly Mull Joint Bid for NIIF-Owned Ayana Renewable Power Oil and Natural Gas Corporation Limited (NSEI:ONGC) is in talks to form a consortium with NTPC Green Energy (Ntpc Green Energy Limited) to bid for National Investment and Infrastructure Fund Limited-owned Ayana Renewable Power Private Limited, according to sources aware of the matter. ONGC and NTPC Green Energy could jointly explore a bid or the former could also go it alone in the bidding process, according to the sources. JSW Neo Energy Limited, Sekura Energy Limited, Abu Dhabi Future Energy Company PJSC - Masdar, Macquarie Group Limited (ASX:MQG) and Sembcorp Industries Ltd. (SGX:U96) have submitted non-binding offers to acquire a controlling stake in Bengaluru-headquartered Ayana Renewable Power, ET had first reported on 4 May. NIIF will communicate a shortlist of bidders over the next few weeks after which they will be allowed to conduct detailed due diligence on the company and then submit binding financial offers, ET had reported. ONGC and NTPC had not responded to ET’s queries until press time. NIIF owns a 51% stake in Ayana Renewable Power while British International Investment plc (formerly known as CDC group) owns 32%. The Green Growth Equity fund of Eversource Capital owns 17%.