Skip to content
NTPC Green Energy logo

NTPC Green Energy

NTPCGREEN NSE
₹83.51 No trade today
P/E
117.62
View as Markdown
MCP
Close 4 Nov 2026 ₹83.51 −16.12 −16.2% 1Y
Start ₹99.63

Key Fundamentals

MidcapPowerUtilities

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
3.56%
Debt to Equity
1.67
EPS (TTM)
₹0.71
Book Value
₹23.03
Market Cap
—
P/E (TTM)
117.62
P/B
3.63
ROE
2.79%
Dividend Yield
0.00%
EBITDA
₹2,652 Cr
52W High
₹119.95
52W Low
₹79.00
Volume
0

Peer Comparison

Utilities › Power › Power Generation

NTPC Green Energy peer comparison
NTPC
₹321.9510.50₹3,09,905 Cr1.460.93%15.10%8.92%₹2,00,543 Cr₹30,459 Cr
Adani Green
₹1,388.00121.97₹2,25,153 Cr10.590.00%11.40%7.39%₹14,809 Cr₹2,249 Cr
JSW Energy
₹511.0045.99₹92,288 Cr2.550.40%7.51%8.16%₹18,965 Cr₹2,460 Cr
NHPC
₹78.4920.76₹80,260 Cr1.902.03%9.32%5.75%₹12,210 Cr₹4,267 Cr
NTPC Green Energy (this company)
₹83.51117.62₹69,433 Cr3.630.00%2.79%3.56%₹3,285 Cr₹605 Cr
NLC India
₹247.6810.70₹32,822 Cr1.601.67%11.90%8.42%₹18,381 Cr₹3,366 Cr
ACME Solar Holdings
₹421.0044.74₹29,572 Cr3.560.05%10.40%8.91%₹2,370 Cr₹602 Cr
Median 7 companies₹321.9544.74₹80,260 Cr2.550.40%10.40%8.16%₹14,809 Cr₹2,460 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

40 Weak

Data confidence 98/100

Category scores

Quality
51
Average
Returns, margins, earnings quality 22% weight
Valuation
16
Poor
Cheap vs sector & own history 24% weight
Growth
81
Strong
Sales & profit trajectory 9% weight
Financial Health
19
Poor
Solvency, leverage, coverage 9% weight
Momentum
24
Poor
Trend strength, vol-adjusted 12% weight
Ownership
50
Average
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

2
  • Company is expected to give good quarter
  • Debtor days have improved from 98.3 to 78.5 days.

Weaknesses

5
  • Stock is trading at 3.77 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 3.66% over last 3 years.
  • Company might be capitalizing the interest cost

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallStrong Bearish1162
OscillatorsBearish261
Moving AveragesStrong Bearish901

Key readings

RSI (14)
41.03
Neutral
MACD (12,26,9)
−2.13
Bearish
SMA (50)
88.76
Bearish
SMA (200)
94.56
Bearish

As of

Analyst Rating

Based on 8 analysts
BUY50%

4 of 8 analysts rate Buy, 2 Hold, 2 Sell.

As of

BUY
4
50%
HOLD
2
25%
SELL
2
25%

Growth Rate

From the financial statements below. 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
3Y+156.18%
1Y+29.32%
TTM+42.15%

Net profit

Net profit growth by window
3Y+44.97%
1Y+9.92%
TTM+8.81%

Operating cash flow

Operating cash flow growth by window
3Y+419.69%
1Y+16.33%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
3Y−3.30 pp
1Y−0.77 pp
TTM−0.76 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2023₹170 Cr
Mar 2024₹1,963 Cr
Mar 2025₹2,210 Cr
Mar 2026₹2,858 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2023₹171 Cr
Mar 2024₹343 Cr
Mar 2025₹474 Cr
Mar 2026₹521 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹4,840 Cr +82.5% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 30 Oct 2026
AI opinion · based on fundamentals
Risk high

NTPC Green Energy Ltd trades at ₹82.44 as of 2026-10-30 with a market cap of ₹69,467 Cr, a P/E (TTM) of 116.11x, and ROE of 2.72%. The company has delivered strong 3-year compounded sales growth of 156% but carries a debt-to-equity ratio of 1.67 and pays no dividend, presenting a mixed picture of rapid top-line expansion offset by stretched valuations and modest profitability.

Bull Case 7
  • Compounded sales growth over 3 years stands at 156%, reflecting rapid capacity additions in the renewable energy space
  • TTM revenue growth remains robust at 42%, indicating continued momentum in project commissioning and power generation
  • Compounded profit growth over 3 years is 45%, showing the company is translating revenue expansion into earnings growth over the medium term
  • Debtor days have improved from 98.3 to 78.5 days, signalling better working capital management and faster collections from offtakers
  • The stock trades at ₹82.44, down roughly 31% from its 52-week high of ₹119.95, which compresses the entry valuation relative to recent peaks
  • The company is expected to deliver a good upcoming quarter, suggesting near-term operational tailwinds
  • Backed by NTPC parentage, the company operates in the policy-favoured renewable energy sector with India targeting 500 GW of non-fossil capacity by 2030
Bear Case 7
  • ROE is just 2.72% and the 3-year average ROE is only 4%, well below the cost of equity for most investors
  • Debt-to-equity ratio of 1.67 is elevated; combined with a low interest coverage ratio, this raises refinancing and servicing risk as the project portfolio scales
  • The company pays zero dividend despite reporting repeated profits, offering no income return to shareholders
  • Price-to-book of 3.66x is high for a capital-intensive utility with sub-3% ROE, suggesting the market is paying a steep premium over asset value
  • TTM profit growth has decelerated to 9% from the 3-year CAGR of 45%, hinting at margin pressure or rising finance costs as the project book grows
  • ROCE of 2.9% barely exceeds risk-free rates, questioning whether incremental capital deployed is generating adequate economic value
  • Possible capitalisation of interest costs may flatter reported profitability; if these costs were expensed, earnings and ROE would be lower

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

4d ago

TL;DR: NTPC Green Energy continues steady capacity additions with a fresh 50 MW solar commissioning in Rajasthan, lifting its installed base to 11,262.51 MW. No headwinds emerged in the latest news cycle. The incremental addition is modest but signals continued execution on its renewable pipeline. Forward momentum depends on the pace of commissioning the remaining 150 MW of the Round The Clock project and broader order wins.

Positives 1
  • 50 MW solar capacity added Oct 1

    NTPC Green Energy commissioned a 50 MW solar project in Rajasthan on October 2, 2026, part of a larger 200 MW Round The Clock project. Subsidiary's total installed capacity now stands at 11,262.51 MW.

Neutral 1
  • Parent group capacity at 91,506 MW Oct 1

    Following the 50 MW solar addition, NTPC Limited's consolidated group installed capacity has been updated to 91,506 MW.

Quarterly Results

₹ Cr
NTPCGREEN quarterly results, ₹ crore
Particulars Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
446
508
578
504
505
622
680
612
653
913
1,107
938
Expenses
51
71
65
85
82
62
77
83
118
138
118
108
Operating Profit
395
437
513
419
424
560
604
530
535
774
989
830
OPM %
89%
86%
89%
83%
84%
90%
89%
86%
82%
85%
89%
88%
Other Income
17
45
29
21
76
129
89
60
31
48
44
103
Interest
174
181
183
195
206
177
193
207
230
257
322
378
Depreciation
159
173
175
182
195
206
223
261
300
318
343
390
PBT
80
127
183
63
99
307
277
122
37
247
368
166
Tax %
31%
36%
24%
42%
34%
24%
20%
29%
53%
20%
17%
17%
Net Profit
56
81
139
37
66
233
220
86
17
197
305
138
EPS (₹)
0.12
0.14
0.24
0.05
0.08
0.28
0.26
0.1
0.02
0.23
0.36
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
NTPCGREEN profit and loss, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
170
1,963
2,210
2,858
3,285
Expenses
18
217
290
397
457
Operating Profit
152
1,745
1,920
2,461
2,828
OPM %
90%
89%
87%
86%
86%
Other Income
1
77
257
221
183
Interest
51
694
766
898
1,016
Depreciation
50
643
758
1,102
1,221
PBT
53
486
653
683
774
Tax %
−226%
29%
27%
24%
—
Net Profit
171
343
474
521
606
EPS (₹)
0.36
0.6
0.56
0.62
0.71
Div. Payout %
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
NTPCGREEN balance sheet, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
4,720
5,720
8,426
8,426
Reserves
168
513
10,014
10,539
Borrowings
6,137
13,856
19,441
31,716
Other Liabilities
7,407
7,119
7,540
9,700
Total Liabilities
18,431
27,207
45,421
60,382
Fixed Assets
14,758
17,573
21,816
39,202
CWIP
1,749
7,138
13,983
14,193
Investments
0
0
3,199
3,536
Other Assets
1,924
2,495
6,423
3,451
Total Assets
18,431
27,207
45,421
60,382

Cash Flow

₹ Cr
NTPCGREEN cash flow, annual, ₹ crore
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Operating
17
1,616
2,051
2,386
Investing
−10,304
−9,218
−17,845
−12,117
Financing
10,360
7,645
15,715
9,796
Net Cash Flow
73
43
−80
66
Free Cash Flow
−734
−7,937
−9,986
−12,832
CFO/EBITDA
11
93
107
97

Ratios

NTPCGREEN financial ratios, annual
Particulars Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
700
131
85
78
Cash Conversion Cycle
700
131
85
78
Working Capital Days
−8,849
−723
−650
−684
ROCE %
—
8%
5%
4%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view NTPC Green Energy insights

58 extracted metrics across FY23–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 89.01%
  • DIIs 5.29%
  • Public 3.78%
  • FIIs 1.58%
  • Others 0.35%

No promoter shares pledged as of 14 Oct 2026

Change vs previous quarter

Documents

Frequently Asked Questions about NTPC Green Energy

What does NTPC Green Energy Ltd do?
Incorporated in April 2022, NTPC Green Energy is a renewable energy company that focuses on undertaking projects through organic and inorganic routes.
Where is NTPC Green Energy Ltd (NTPCGREEN) listed?
NTPC Green Energy Ltd trades as NTPCGREEN on the NSE and under code 544289 on the BSE.
Which sector does NTPC Green Energy Ltd belong to?
NTPC Green Energy Ltd is classified under the Power sector, in the Power Generation industry.
What is the PE ratio of NTPC Green Energy Ltd?
NTPC Green Energy Ltd trades at a PE ratio of 117.62 as of 4 Nov 2026, on earnings per share of ₹0.71, against a book value of ₹23.03 per share.
What is the 52-week high and low of NTPC Green Energy Ltd?
Over the last 52 weeks NTPC Green Energy Ltd has traded between ₹79 and ₹119.95 as of 4 Nov 2026.
What is the Return on Equity (ROE) of NTPC Green Energy Ltd?
NTPC Green Energy Ltd reported a return on equity of 2.79%. Its debt-to-equity ratio is 1.67.

Company Information

Incorporated in April 2022, NTPC Green Energy is a renewable energy company that focuses on undertaking projects through organic and inorganic routes.

Website ngel.in/ngel-home
Listed 27 Nov 2024
Face Value ₹10

For AI agents and developers

Reading this as an AI agent, LLM or automated pipeline? Every page on Tapetide is also published as clean Markdown — no navigation, no scripts, just the data. Fetch https://tapetide.com/stocks/NTPCGREEN.md for NTPC Green Energy Ltd: dated key facts, then this page's sections in order: latest price, key fundamentals, peer comparison, the Tapetide Score, technical indicators, analyst ratings, growth rates, analyst forecasts, the AI analysis and news digest (labelled as AI-generated), financial statements, shareholding pattern, documents and the FAQ.

Append .md to any Tapetide URL for the same treatment. A full index of what we publish is at /llms.txt and /llms-full.txt. For live, structured queries instead of documents, use our Indian stock market MCP server.

Explore More

More Power stocks → FII DII DataStock ScreenerNifty 50 HeatmapF&O Ban ListFII and DII flows, month by monthHow Tapetide Scores changed, month by monthStocks mutual funds are buying, month by month