NTPCGREEN

NTPC Green Energy Limited

NTPC's renewables subsidiary — solar, wind and battery storage

Utilities›Power›Power›Power Generation

ntpc.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹89.82
Market cap
75,685 Cr
Stock P/E
124.7
P/B
3.99
ROE (FY26)
2.7%
ROCE (FY26)
3.2%
Operating margin (FY26)
48.0%
Debt / equity (FY26)
1.54
OCF / EBITDA (FY26)
96.4%
OCF / EBITDA (3Y)
97.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

NTPC Green Energy (NGEL) generates electricity from renewable sources, mainly solar with some wind, and is a subsidiary of NTPC Limited.

Company snapshot

4thBy market cap

Ranked among 27 companies in Power Generation.

What we see

Positives
  • ✓Net margin of 18.2% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales505 Cr622 Cr680 Cr612 Cr653 Cr913 Cr1,107 Cr
Operating expenses (approx.)82 Cr62 Cr77 Cr83 Cr86 Cr138 Cr118 Cr
EBITDA424 Cr560 Cr604 Cr530 Cr567 Cr775 Cr989 Cr
OPM %83.9%90.0%88.7%86.5%86.9%84.9%89.3%
Other income76 Cr129 Cr71 Cr44 Cr31 Cr30 Cr15 Cr
Interest206 Cr177 Cr193 Cr207 Cr230 Cr257 Cr322 Cr
Depreciation195 Cr206 Cr223 Cr261 Cr300 Cr318 Cr343 Cr
Profit before tax99 Cr307 Cr277 Cr122 Cr37 Cr247 Cr368 Cr
Tax %33.9%24.0%20.4%29.0%52.8%20.3%17.2%
Net profit66 Cr233 Cr220 Cr86 Cr17 Cr197 Cr305 Cr
EPS (₹)₹0.08₹0.28₹0.26₹0.10₹0.02₹0.23₹0.36

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2023Mar 2024Mar 2025Mar 2026TTM
Sales170 Cr1,963 Cr2,210 Cr2,858 CrSign in free for the trailing twelve months
Operating expenses (approx.)18 Cr216 Cr293 Cr383 CrSign in free for the trailing twelve months
EBITDA151 Cr1,746 Cr1,917 Cr2,475 CrSign in free for the trailing twelve months
OPM %89.2%89.0%86.7%86.6%Sign in free for the trailing twelve months
Other income0.94 Cr75 Cr256 Cr177 CrSign in free for the trailing twelve months
Interest50 Cr691 Cr761 Cr887 CrSign in free for the trailing twelve months
Depreciation50 Cr643 Cr758 Cr1,102 CrSign in free for the trailing twelve months
Profit before tax53 Cr488 Cr653 Cr683 CrSign in free for the trailing twelve months
Tax %-225.9%29.4%27.4%23.6%Sign in free for the trailing twelve months
Net profit171 Cr345 Cr474 Cr521 CrSign in free for the trailing twelve months
EPS (₹)₹4.66₹0.73₹0.67₹0.62Sign in free for the trailing twelve months
Dividend payout %——0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2023Mar 2024Mar 2025Mar 2026
Equity capital4,720 Cr5,720 Cr8,426 Cr8,426 Cr
Reserves168 Cr513 Cr10,014 Cr10,539 Cr
Borrowings5,418 Cr12,797 Cr17,972 Cr29,258 Cr
Other liabilities8,126 Cr8,177 Cr8,917 Cr11,934 Cr
Total liabilities18,431 Cr27,206 Cr45,421 Cr60,382 Cr
Fixed assets (net)14,758 Cr17,573 Cr21,816 Cr39,200 Cr
CWIP1,749 Cr7,138 Cr13,983 Cr14,193 Cr
Investments—0.05 Cr3,199 Cr3,536 Cr
Inventories9 Cr25 Cr32 Cr36 Cr
Trade receivables325 Cr705 Cr517 Cr614 Cr
Cash & bank73 Cr116 Cr36 Cr102 Cr
Other assets1,516 Cr1,650 Cr5,838 Cr2,700 Cr
Total assets18,431 Cr27,206 Cr45,421 Cr60,382 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity—1,579 Cr1,999 Cr2,386 Cr
Cash from investing—-9,207 Cr-17,793 Cr-12,117 Cr
Cash from financing—7,671 Cr15,715 Cr9,796 Cr
Net cash flow—43 Cr-80 Cr66 Cr
Free cash flow (OCF − Capex)—-6,884 Cr-9,986 Cr-12,880 Cr

Ratios

MetricMar 2023Mar 2024Mar 2025Mar 2026
ROCE %1.0%6.2%3.9%3.2%
ROE %3.5%5.5%2.6%2.7%
Debtor days6981318578
Inventory days20555
Days payable219121519
Cash conversion cycle4991247663
OCF / EBITDA %—90.4%104.3%96.4%
OCF / EBITDA % (3 years)———97.2%
Debt / equity1.112.050.971.54
Current ratio0.160.270.920.24
Net debt / EBITDA35.317.269.3611.78