āagman

Not investment advice. Data and computed figures, for information only.

NTPC Ltd

NSE: NTPCF&O
₹315.15
+₹0.50 (+0.16%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹3,02,536 Cr
CMP
₹315.15
52-wk High / Low
₹414 / 306
P/E
10.9
P/B
1.5
Book Value
₹210.0
Div Yield
2.88%
ROCE
9.0%
ROE
15.1%
Face Value
₹10
D/E
1.33

Price−7.8% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
6
/ 9
6 of 9 F-score tests passed
Graham Number
₹363
√(22.5 × EPS × book value per share)
ROIC
7.6%
vs 5.8% sector median
Cash flow to profit
1.85
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+526
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
10.4%
ROE × earnings retention ratio
ROE stability
0.7
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.24DII +0.31
Latest quarter vs the previous one
Cash-accrual divergence
−4.3%
of assets
Low = accruals track cash flow
Strengths
+Annualised volatility of 19.1% is in the low band (≤25%)
+FII holding rose by 0.7pp over the last year
+PE of 10.9x is below the sector median of 25.7x
Watch-outs
−Borrowings are up 172.6% since FY2016 (99424 to 271005)
−Price trades below its 200-day moving average (0.9x)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales43,07544,98342,82047,62848,52944,70645,06949,83447,06444,78645,84649,68650,741
Expenses30,66432,30331,45833,63835,09133,04131,72935,08034,48531,97031,27641,18134,510
Operating Profit12,41112,68011,36213,99013,43811,66513,34114,75412,57912,81614,5708,50516,231
OPM %28.8%28.2%26.5%29.4%27.7%26.1%29.6%29.6%26.7%28.6%31.8%17.1%32.0%
Other Income9941,0242,5321,4001,1873,2189864,1803,2412,7341,7381,9181,549
Interest2,9222,9213,2502,9553,1363,6212,7643,6483,4683,4323,1643,7373,386
Depreciation3,8214,0384,0744,2714,2044,2164,3184,6634,5874,8165,0935,1345,234
Profit before tax6,6616,7466,5718,1647,2847,0467,24510,6237,7657,3018,0501,5539,160
Net Profit4,9074,7265,2096,4905,5065,3805,1707,8976,1085,2255,59710,6156,896
EPS (₹)5.034.765.326.365.655.445.227.856.205.235.6610.816.93

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales79,95773,39682,04288,0831,00,2871,09,4641,11,5311,32,6691,76,2071,78,5251,88,1381,87,3851,91,059
Expenses62,60554,82960,44565,59877,57677,87877,48792,3071,28,6111,27,0561,33,7831,31,9471,38,937
Operating Profit17,35218,56821,59822,48522,71031,58634,04440,36247,59651,46954,35555,43852,121
OPM %21.7%25.3%26.3%25.5%22.6%28.9%30.5%30.4%27.0%28.8%28.9%29.6%27.3%
Other Income2,3381,1881,5925,5762,8188,2095,0214,8092,5615,1778,5262,6627,938
Interest3,6693,3663,7534,4475,6058,1899,2249,37611,44712,30113,28213,80113,719
Depreciation5,5655,7716,0107,4608,66910,35612,45013,78814,79216,20417,40119,62920,276
Profit before tax10,45610,61813,42616,15411,25521,25017,39022,00723,91728,14232,19824,66926,064
Net Profit9,99210,78110,71410,50214,03411,90214,96916,96017,12121,33223,95327,54628,334
EPS (₹)10.0910.9210.8310.6613.8811.7215.0917.2017.4421.4624.1627.9028.63

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital8,2458,2458,2458,2459,8959,8959,6979,6979,6979,6979,6979,697—
Reserves73,84983,33089,59395,3181,01,4621,08,9451,16,0421,25,6771,37,3261,51,0131,74,3741,93,479—
Borrowings1,02,25299,4241,13,7731,30,0491,73,0582,00,6302,10,2082,10,7072,22,9132,37,1312,50,0962,71,005—
Other Liabilities35,36633,66636,99048,88062,50958,20262,07569,75177,25381,43789,56584,262—
Total Liabilities2,19,7122,24,6652,48,6012,82,4923,46,9233,77,6713,98,0224,15,8314,47,1894,79,2785,23,7325,58,442—
Fixed Assets91,85392,9291,04,5321,28,2451,50,9851,87,8032,03,2452,24,9232,40,4242,58,9342,71,4373,18,697—
CWIP67,55575,04686,89683,3861,18,39798,50897,50691,12689,17987,6641,00,85984,957—
Investments1,9026,4737,6148,8768,1329,30710,58910,62613,93515,88519,70424,180—
Other Assets58,40350,21749,56061,98569,40982,05386,68189,1561,03,6511,16,7951,31,7331,30,609—
Total Assets2,19,7122,24,6652,48,6012,82,4923,46,9233,77,6713,98,0224,15,8314,47,1894,79,2785,23,7325,58,442—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity16,53114,88924,12520,16719,67018,68624,58332,44441,78847,15240,09950,48850,902
Cash from Investing Activity−15,509−15,977−19,162−24,480−20,678−24,063−30,322−21,034−22,891−26,145−31,456−45,852−37,578
Cash from Financing Activity−2,709−1,474−3,8993,1381,0284,9276,004−11,049−19,172−21,217−8,246−4,073−11,328
Net Cash Flow−1,687−2,5631,064−1,17619−451266360−274−2103985631,995

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %11.08.07.09.09.07.010.09.09.010.010.011.09.0
ROE %————————————15.1
EPS (₹)11.5310.0910.9210.8310.6613.8811.7215.0917.2017.4421.4624.1627.90
Book Value (₹)————————————210.0
Face Value (₹)————————————10
P/E————————————10.9
Div Yield %————————————2.88
NPM %14.612.114.512.811.213.610.112.812.39.611.612.214.5
OPM %25.022.025.026.026.023.029.031.030.027.029.029.030.0
D/E0.931.251.091.161.261.551.691.671.561.521.481.361.33
P/B————————————1.5

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+10.0%
5 years+11.0%
3 years+2.0%
TTM+2.0%
Compounded profit growth
10 years+10.0%
5 years+14.0%
3 years+20.0%
TTM+16.0%
Stock price CAGR
10 years+10.0%
5 years+17.0%
3 years+9.0%
Last year−8.0%
Return on equity
10 years13.0%
5 years14.0%
3 years14.0%
Last year15.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters69.74%69.74%62.27%56.09%51.02%51.10%51.10%51.10%51.10%51.10%51.10%51.10%
FIIs10.43%10.43%11.52%11.48%12.64%11.94%14.74%15.61%17.86%17.79%16.54%16.30%
DIIs17.02%17.02%22.82%28.73%33.46%33.93%30.76%30.51%27.55%27.22%29.13%29.44%
Government0.00%0.00%0.01%0.32%0.10%0.14%0.17%0.10%0.11%0.11%0.12%0.00%
Public2.81%2.81%3.37%3.38%2.78%2.89%3.23%2.69%3.37%3.77%3.10%3.14%
No. of shareholders6,31,3126,31,3125,66,3775,61,6896,05,2447,79,6099,72,4659,83,60613,93,48041,43,17533,00,17932,01,112
Change since Jun 2023 (pp)
Promoters −18.64FIIs +5.87DIIs +12.42Public +0.33

Documents

As of 11 Oct 2026
Announcements
Declaration Of Commercial Operation Of Fourth Part Capacity Of 66.18 MW Of Kalasar Solar Energy Project, Bikaner, Rajasthan, Out Of 650 MW Of Solar Component Under 500 MW REMCL RTC Project Of NTPC Renewable Energy Limited.Announcement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-CessationDeclaration Of Commercial Operation Of Fourth Part Capacity Of 50 MW Solar Capacity Out Of Cumulative 300 MW Solar Component, As Part Of 200 MW RE Round The Clock (RTC) Project Capacity Located In Rajasthan By A Group Company Of NGEL.Announcement under Regulation 30 (LODR)-Change in Management
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026TranscriptAug 2026PPTAug 2026RecordingJul 2026PPTMay 2026TranscriptMay 2026PPTFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingNov 2025TranscriptNov 2025Recording

Corporate actions

As of 2 Sep 2026
2 Sep 2026DIVIDENDDividend - Rs 3.50 Per Share—
6 Feb 2026DIVIDENDInterim Dividend - Rs 2.75 Per Share—
7 Nov 2025DIVIDENDInterim Dividend - Rs 2.75 Per Share—
4 Sep 2025DIVIDENDDividend - Rs 3.35 Per Share—
31 Jan 2025DIVIDENDInterim Dividend - Rs 2.50 Per Share—
31 Oct 2024DIVIDENDInterim Dividend - Rs 2.50 Per Share—
7 Aug 2024DIVIDENDDividend - Rs 3.25 Per Share—
6 Feb 2024DIVIDENDInterim Dividend - Rs 2.25 Per Share—
3 Nov 2023DIVIDENDInterim Dividend - Rs 2.25 Per Share—
11 Aug 2023DIVIDENDDividend - Rs 3 Per Share—
3 Feb 2023DIVIDENDInterim Dividend - Rs 4.25 Per Share—
10 Aug 2022DIVIDENDDividend - Rs 3 Per Share—
3 Feb 2022DIVIDENDInterim Dividend - Rs 4 Per Share—
8 Sep 2021DIVIDEND Dividend - Rs 3.15 Per Share—
11 Feb 2021DIVIDEND Interim Dividend - Rs 3 Per Share—
13 Aug 2020DIVIDEND Dividend - Rs 2.65 Per Share—
26 Mar 2020DIVIDEND Interim Dividend - Rs 0.50 Per Hsare—
13 Aug 2019DIVIDEND Dividend - Rs 2.50 Per Share—
19 Mar 2019BONUS Bonus 1:5—
6 Feb 2019DIVIDEND Interim Dividend - Rs 3.58 Per Share—
6 Sep 2018DIVIDEND Dividend Rs 2.39 Per Share—
7 Feb 2018DIVIDEND Interim Dividend Rs 2.73 Per Share (Purpose Revised)—
7 Sep 2017DIVIDEND Annual General Meeting/Dividend - Rs 2.17 Per Share—
15 Feb 2017DIVIDEND Interim Dividend Rs 2.61/- Per Share (Purpose Revised)—
8 Sep 2016DIVIDEND Dividend - Rs 1.75 Per Share—
5 Feb 2016DIVIDEND Interim Dividend - Rs 1.60/- Per Share (Purpose Revised)—
3 Sep 2015DIVIDEND Annual General Meeting/ Dividend - Rs 1.75/- Per Share—
20 Mar 2015BONUSScheme Of Arrangement - Bonus Debentures 1:1—
4 Feb 2015DIVIDENDInterim Dividend - Re 0.75/- Per Share (Purpose Revised)—
13 Aug 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 1.75/- Per Share—
31 Jan 2014DIVIDENDInterim Dividend - Rs 4/- Per Share (Purpose Revised)—
5 Sep 2013DIVIDENDAnnual General Meeting/Final Dividend Re.0.75 Per Share And Special Dividend Rs.1.25 Per Share—
1 Mar 2013DIVIDENDInterim Dividend Rs.3.75 Per Share (Purpose Revised)—
6 Sep 2012DIVIDENDAnnual General Meeting And Dividend Re.0.50 Per Share—
31 Jan 2012DIVIDENDInterim Dividend Rs.3.50 Per Share (Purpose Revised)—
8 Sep 2011DIVIDENDAnnual General Meeting And Dividend Re.0.80 Per Share—
4 Feb 2011DIVIDENDInterim Dividend-Rs.3/- Per Share (Purpose Revised)—
8 Sep 2010DIVIDENDAnnual General Meeting And Final Dividend Re.0.80 Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman