Arthneeti

NTPC Q1 FY27 Share Price & Earnings Call Analysis

₹310.50+2.22% today
Market cap
₹3.01L Cr
P/E
10.86
ROE
15.09%
PEG
0.53
Price to sales
1.58
Debt to equity
1.33
52W high / low
₹410 / ₹298
Sales growth (5Y)
10.93%
EBITDA margin
27.28%
Net profit margin
15.88%
Promoter holding
51.10%
Sales (last year)
₹1.91L Cr

NTPC (National Thermal Power Corporation) Ltd along with its subsidiaries/ associates & JVs is primarily involved in generation and sale of bulk power to State power utilities. Other business of the group includes providing consultancy, project management & supervision, energy trading, oil & gas exploration and coal mining.[1]

Guidance scorecard · Q1 FY27 call

What NTPC's management guided
and where it ranks in Power

#15of 24 in
Power
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • NTPC expects sustained strong growth driven by India's rapid industrialization, urbanization, and electrification.
  • Group profit after tax grew at a CAGR of 12.89% from FY22 to FY26, indicating healthy financial expansion.
  • Power generation is growing, with NTPC's share increasing from around 20-21% and expected to grow further.
  • Electricity generation in India projected to rise by ~7% annually, reaching 943 billion units by FY37.
  • Renewable energy share expected to increase from 4% to 33% by FY37, shifting the energy mix.
  • NTPC plans significant capacity expansion: 149 GW by 2032, with a capex of approx. INR 16.8 lakh crores over the next decade.
  • Renewable capacity targeted to reach 60 GW by FY32 and 136 GW by FY37.

2 more points from NTPC's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what NTPC said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Renewable energy target: Expand portfolio from 12 GW operational to 136 GW by FY37, including significant investments in battery energy storage systems (BESS).
  • Investments also include emerging businesses like mining and grid-level storage technologies (pumped storage, various battery chemistries).
  • Strategic emphasis on cost-efficient financing with weighted average borrowing cost at ~5.89%.
Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what NTPC said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

  • NTPC has a pipeline of 17 GW coal capacity planned, increasing total coal capacity to about 91 GW.
  • Renewable energy targets include adding about 7 GW in the near term, with a vision to reach 250 GW capacity by FY37.
  • Discussions mention scaling up thermal, nuclear, and renewable capacities with an ongoing capex program reflected in gross fixed assets growing at 11% CAGR.
  • For specific current order book details, one would need to refer to the company’s official financial reports or updates beyond this transcript.
Full Q1 FY27 analysis
Full Power ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Power
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does NTPC rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Power companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹1,624 Cr8.3
240%+Flat₹28,982 Cr48.7
340%+Flat₹15,130 Cr573.5
440%+Flat₹15,007 Cr95.7
520–40%Flat₹3.78L Cr26.5
620–40%Flat₹1.95L Cr100.7

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Financials of NTPC

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of NTPC

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +44,25343,07544,98342,82047,62848,52944,70645,06949,83447,06544,78645,84649,688
Expenses +32,31130,66432,30331,45833,63835,09133,04131,72935,08034,48531,97031,27641,181
Operating Profit11,94212,41112,68011,36213,99013,43811,66513,34114,75412,58012,81614,5708,507
OPM %27%29%28%27%29%28%26%30%30%27%29%32%17%
Other Income +1,0849941,0242,5321,4001,1873,2189864,1803,2402,7341,7381,917
Interest2,8602,9222,9213,2502,9553,1363,6212,7643,6483,4683,4323,1643,737
Depreciation3,8483,8214,0384,0744,2714,2044,2164,3184,6634,5874,8165,0935,134
Profit before tax6,3186,6616,7466,5718,1647,2847,0467,24510,6237,7657,3018,0501,553
Tax %23%26%30%21%20%24%24%29%26%21%28%30%-584%
Net Profit +4,8724,9074,7265,2096,4905,5065,3805,1707,8976,1085,2255,59710,615
EPS in Rs5.015.034.765.326.365.655.445.227.856.205.235.6610.81

Financials of NTPC

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +79,95773,39682,04288,083100,287109,464111,531132,669176,207178,525188,138187,385
Expenses +62,60554,82960,44565,59877,57677,87877,48792,307128,611127,056133,783134,563
Operating Profit17,35218,56821,59822,48522,71031,58634,04440,36247,59651,46954,35552,822
OPM %22%25%26%26%23%29%31%30%27%29%29%28%
Other Income +2,3381,1881,5925,5762,8188,2095,0214,8092,5615,1778,5265,278
Interest3,6693,3663,7534,4475,6058,1899,2249,37611,44712,30113,28213,801
Depreciation5,5655,7716,0107,4608,66910,35612,45013,78814,79216,20417,40119,629
Profit before tax10,45610,61813,42616,15411,25521,25017,39022,00723,91728,14232,19824,669
Tax %4%-2%20%35%-25%44%14%23%28%24%26%-12%
Net Profit +9,99210,78110,71410,50214,03411,90214,96916,96017,12121,33223,95327,546
EPS in Rs10.0910.9210.8310.6613.8811.7215.0917.2017.4421.4624.1627.90
Dividend Payout %21%26%37%40%44%27%41%41%42%36%35%32%

Financials of NTPC

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital8,2458,2458,2458,2459,8959,8959,6979,6979,6979,6979,6979,697
Reserves73,84983,33089,59395,318101,462108,945116,042125,677137,326151,013174,374193,479
Borrowings +102,25299,424113,773130,049173,058200,630210,208210,707222,913237,131250,096271,005
Other Liabilities +35,36633,66636,99048,88062,50958,20262,07569,75177,25381,43789,33084,463
Total Liabilities219,712224,665248,601282,492346,923377,671398,022415,831447,189479,278523,497558,644
Fixed Assets +91,85392,929104,532128,245150,985187,803203,245224,923240,424258,934271,437318,821
CWIP67,55575,04686,89683,386118,39798,50897,50691,12689,17987,664100,85984,833
Investments1,9026,4737,6148,8768,1329,30710,58910,62613,93515,88519,70424,180
Other Assets +58,40350,21749,56061,98569,40982,05386,68189,156103,651116,795131,498130,810
Total Assets219,712224,665248,601282,492346,923377,671398,022415,831447,189479,278523,497558,644

Financials of NTPC

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +14,88924,12520,16719,67018,68624,58332,44441,78847,15240,09950,43650,902
Cash from Investing Activity +-15,977-19,162-24,480-20,678-24,063-30,322-21,034-22,891-26,145-31,456-45,800-37,578
Cash from Financing Activity +-1,474-3,8993,1381,0284,9276,004-11,049-19,172-21,217-8,246-4,073-11,328
Net Cash Flow-2,5631,064-1,17619-451266360-274-2103985631,995
Free Cash Flow-4,4313,110-4,161912-2,8426,5219,16217,45722,4329,3589,4316,895
CFO/OP97%137%106%79%98%89%104%109%108%85%101%103%

Financials of NTPC

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days424140374568927762686771
Inventory Days
Days Payable
Cash Conversion Cycle424140374568927762686771
Working Capital Days-47-39-52-44-106-35-61-62-43-45-38-55
ROCE %8%7%9%9%7%10%9%9%10%10%11%8%

Guidance history

How NTPC's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →20–40%FlatPlannedPlanned—
Q2 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

17out of 100

Momentum score · price trend

17 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−10.4%49%
Last 6 months−24.3%14%
Last 3 months−11.6%39%

The price is 30.5% below its all-time high of ₹436.9 (27 Sept 2024). Stocks more than 20% below their peak have their score halved, so 33 became 17.

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: 0.4 × 49 + 0.4 × 14 + 0.2 × 39 = 33, halved to 17 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 28 Oct 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's management said in earlier quarters

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