NTPC Green Energy Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹70,292 Cr
- P/E
- 107.02
- ROE
- 2.79%
- PEG
- 2.38
- Price to sales
- 19.47
- Debt to equity
- 1.94
- 52W high / low
- ₹119 / ₹81.2
- EBITDA margin
- 86.64%
- Net profit margin
- 18.24%
- Promoter holding
- 89.01%
- Sales (last year)
- ₹3,611 Cr
Incorporated in April 2022, NTPC Green Energy is a renewable energy company that focuses on undertaking projects through organic and inorganic routes.[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Power
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Peers
Power companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹1,519 Cr | 7.8 | |
| 2 | 40%+ | Flat | ₹28,615 Cr | 48.0 | |
| 3 | 40%+ | Flat | ₹14,613 Cr | 93.2 | |
| 4 | 40%+ | Flat | ₹14,055 Cr | 532.8 | |
| 5 | 20–40% | Flat | ₹3.64L Cr | 20.0 | |
| 6 | 20–40% | Flat | ₹2.14L Cr | 109.5 |
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Pro shows every company guiding 40%+ revenue growth →Full Power rankingFinancials of NTPC Green Energy
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
NTPC Green Energy
Shareholding breakup across reporting periods.
| Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Promoters + | 89.01% | 89.01% | 89.01% | 89.01% | 89.01% | 89.01% | 89.01% | 89.01% |
| FIIs + | 2.18% | 1.98% | 1.85% | 1.79% | 1.61% | 1.61% | 1.67% | 1.58% |
| DIIs + | 5.28% | 4.87% | 4.66% | 4.63% | 4.80% | 5.07% | 5.21% | 5.29% |
| Public + | 3.52% | 4.14% | 4.48% | 4.57% | 4.58% | 4.30% | 4.12% | 4.12% |
| No. of Shareholders | 12,76,901 | 14,07,563 | 13,86,018 | 13,58,211 | 13,32,650 | 13,01,463 | 12,30,466 | 12,12,310 |
Financials of NTPC Green Energy
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 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 |
| Profit before tax | 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 in Rs | 0.12 | 0.14 | 0.24 | 0.05 | 0.08 | 0.28 | 0.26 | 0.10 | 0.02 | 0.23 | 0.36 | 0.16 |
Financials of NTPC Green Energy
Profit & Loss
Annual income statement trend
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| Sales + | 170 | 1,963 | 2,210 | 2,858 | 3,611 |
| Expenses + | 18 | 217 | 290 | 397 | 483 |
| Operating Profit | 152 | 1,745 | 1,920 | 2,461 | 3,128 |
| OPM % | 90% | 89% | 87% | 86% | 87% |
| Other Income + | 1 | 77 | 257 | 221 | 226 |
| Interest | 51 | 694 | 766 | 898 | 1,187 |
| Depreciation | 50 | 643 | 758 | 1,102 | 1,350 |
| Profit before tax | 53 | 486 | 653 | 683 | 818 |
| Tax % | -226% | 29% | 27% | 24% | |
| Net Profit + | 171 | 343 | 474 | 521 | 657 |
| EPS in Rs | 0.36 | 0.60 | 0.56 | 0.62 | 0.77 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
Financials of NTPC Green Energy
Balance Sheet
Capital structure and asset base
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 4,720 | 5,720 | 8,426 | 8,426 | 8,426 |
| Reserves | 168 | 513 | 10,014 | 10,539 | 10,981 |
| Borrowings + | 6,137 | 13,856 | 19,441 | 31,716 | 37,742 |
| Other Liabilities + | 7,407 | 7,119 | 7,540 | 9,700 | 9,674 |
| Total Liabilities | 18,431 | 27,207 | 45,421 | 60,382 | 66,823 |
| Fixed Assets + | 14,758 | 17,573 | 21,816 | 39,202 | 41,551 |
| CWIP | 1,749 | 7,138 | 13,983 | 14,193 | 17,010 |
| Investments | 0 | 0 | 3,199 | 3,536 | 3,625 |
| Other Assets + | 1,924 | 2,495 | 6,423 | 3,451 | 4,638 |
| Total Assets | 18,431 | 27,207 | 45,421 | 60,382 | 66,823 |
Financials of NTPC Green Energy
Cash Flows
Operating, investing and financing cash movement
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Cash from Operating Activity + | 17 | 1,616 | 2,051 | 2,386 |
| Cash from Investing Activity + | -10,304 | -9,218 | -17,845 | -12,117 |
| Cash from Financing Activity + | 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 Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 11% | 93% | 107% | 97% |
Financials of NTPC Green Energy
Ratios
Working capital efficiency and return ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 700 | 131 | 85 | 78 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 700 | 131 | 85 | 78 |
| Working Capital Days | -8,849 | -723 | -650 | -684 |
| ROCE % | 8% | 5% | 4% |
Momentum score · price trend
15 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −19.1% | 37% |
| Last 6 months | −25.0% | 13% |
| Last 3 months | −8.0% | 50% |
The price is 42.1% below its all-time high of ₹144.13 (13 Dec 2024). Stocks more than 20% below their peak have their score halved, so 30 became 15.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For NTPC Green Energy: 0.4 × 37 + 0.4 × 13 + 0.2 × 50 = 30, halved to 15 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What NTPC Green Energy's management said in earlier quarters
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