NTPC Ltd
NTPC Q4 FY25: Revenue ₹190,862 Cr, PAT ₹18,016 Cr
Q4 FY25 earnings call: what management guided on revenue, margins and order book.
The short version
NTPC Group's total income for FY25 rose by 5% to ₹190,862 crore from ₹181,166 crore in FY24. Adjusted consolidated PAT for FY25 was ₹18,016 crore, a 10% increase from ₹16,405 crore in FY24.
From NTPC Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- NTPC Group's total income for FY25 rose by 5% to ₹190,862 crore from ₹181,166 crore in FY24.
- Standalone total income increased 4% in Q4 FY25 to ₹45,813 crore.
- NGEL's total income surged 21% in FY25 to ₹2,466 crore, with EBITDA margin improving to 90.04%.
- NGEL’s contracted and awarded renewable capacity grew 50% to 17,277 MW as of March 2025.
- Power trading subsidiary NVVN achieved 41.45 BU, up 18% YoY.
- Standalone PAT rose 9% to ₹19,649 crore; Group PAT grew 12% to ₹23,953 crore.
- CAPEX is a key growth driver: Group CAPEX expected to rise significantly to ₹265,455 crore over FY26-28.
- Renewable capacity additions targeted at over 7 GW annually, with 11.8 GW expected in FY26 including JVs.
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Profitability & Margins
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Capital Expenditure Plans
- NGEL incurred a consolidated CAPEX of ₹12,914 crore in FY25, significantly up from ₹8,996 crore the previous year.
- NTPC standalone capex outlook for next 3 years: ₹26,000 crore (current year), ₹29,209 crore (next year), and ₹32,452 crore (FY28), totaling ₹87,661 crore (avg ₹29,220 crore/year).
- Group capex over 3 years: ₹55,920 crore (current year), ₹97,363 crore (next year), and ₹112,172 crore (FY28), totaling ₹265,455 crore (avg ₹88,485 crore/year).
- NTPC Board approved investment of 8 GW thermal capacity in FY25 with an estimated cost of ₹1 lakh crore.
- NTPC has 33.7 GW capacity under construction (16.9 GW coal, 2.2 GW hydro, 14.6 GW renewables).
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Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- NTPC Board approved investment for 8 GW of thermal capacity during FY25, estimated cost around ₹1 lakh crore.
- Currently, 33.7 GW of capacity is under construction: 16.9 GW coal, 2.2 GW hydro, and 14.6 GW renewable energy projects.
- For FY26, NTPC plans to commission around 11.8 GW capacity including stand-alone and JV/subsidiaries (2.0 GW stand-alone, ~9.8 GW JV/subsidiaries).
- NGEL targets around 7.2 GW renewable capacity addition for FY26, with subsequent average 8 GW additions yearly.
- Majority of FY26 and FY27 projects are CTU (Central Transmission Utility) based with land and connectivity largely secured.
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NTPC Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹49.7K Cr, net profit ₹10.6K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What NTPC's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were NTPC Ltd Q4 FY25 results?
NTPC Group's total income for FY25 rose by 5% to ₹190,862 crore from ₹181,166 crore in FY24. Adjusted consolidated PAT for FY25 was ₹18,016 crore, a 10% increase from ₹16,405 crore in FY24.
What is NTPC Ltd share price analysis?
NTPC Ltd currently shows a neutral. The stock trades at a P/E of 11.9 with a market cap of ₹329,687 Cr. Investors should review the full earnings analysis for detailed insights.
Is NTPC Ltd planning capital expenditure?
NGEL incurred a consolidated CAPEX of ₹12,914 crore in FY25, significantly up from ₹8,996 crore the previous year.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.