Future growth expectations in earnings/operating earnings/profits/EPS?

FY26 adjusted PAT increased by 8% YoY to INR 19,530 crores; group PAT up 15% to INR 27,546 crores. NTPC Board declared a total dividend of INR 9 per share for FY26, reflecting strong shareholder returns. Capacity addition planned: ~9.6 GW in FY27, ~10 GW in FY28, with major tilt towards renewables (~8 GW per year). Capex plan for NGEL: INR 35,800 crores in FY27, INR 46,000 crores in FY28, supporting green energy growth. Stable EBITDA margins (87% for NGEL) and revenue growth in renewables (+29% in FY26). Thermal margins protected through fixed charge compensation despite backing down due to re

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NTPC LtdQ1 FY26Power

NTPC Ltd Q1 FY26 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹358P/E: 15.8Market Cap: ₹3.8L CrSector: Power

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

N/A

Order

N/A

Capex

Yes

1 of 3 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

No information is provided regarding the same in the latest conference call.

Margin guidance

Category 3

→FY26 adjusted PAT increased by 8% YoY to INR 19,530 crores; group PAT up 15% to INR 27,546 crores.
→NTPC Board declared a total dividend of INR 9 per share for FY26, reflecting strong shareholder returns.
→Capacity addition planned: ~9.6 GW in FY27, ~10 GW in FY28, with major tilt towards renewables (~8 GW per year).
→Capex plan for NGEL: INR 35,800 crores in FY27, INR 46,000 crores in FY28, supporting green energy growth.
→Stable EBITDA margins (87% for NGEL) and revenue growth in renewables (+29% in FY26).
→Thermal margins protected through fixed charge compensation despite backing down due to renewable integration.
→NTPC aims to expand storage (BESS, pump storage, etc.) enhancing grid stability and renewable integration.
→Long-term growth supported by diversified portfolio including coal, hydro, renewables, storage, nuclear, and green hydrogen initiatives.

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Fundraise plans

No information is provided regarding the same in the latest conference call.

Order book

The transcript does not explicitly mention the current or expected order book or pending orders for NTPC Limited. However, related insights include: - NGEL (NTPC Green Energy Limited) has a renewable energy project pipeline reduced from 32 GW to 30 GW, reflecting an actualization of project pipeline and contracted awarded capacity. - NTPC group plans significant capacity additions totaling approximately 9,557 MW in FY27 and 10,039 MW in FY28, largely from renewables (over 8 GW each year), along with thermal and hydro projects. - Firm PPA tie-ups already cover around 72%-79% of capacity expected to be commissioned in FY27 and FY28. - The company is actively tendering and executing large-scale renewable and hybrid projects, including projects with confirmed off-take arrangements. - NTPC mentioned exploring inorganic acquisition opportunities to supplement capacity addition targets. No formal order book or pending order value is provided in the transcript.

Capex plans

Yes

No information is provided regarding the same in the latest conference call.

How does NTPC Ltd rank vs peers in Power?

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