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Revenue
₹47,628 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
Pending
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
NTPC reported a solid FY24 with standalone PAT of INR 18,079 crores (+5% YoY) and group PAT of INR 21,332 crores (+25% YoY), driven by higher generation (422 BU, +6% YoY) and strong subsidiary/JV performance. Thermal capacity additions remain on track with 15.2 GW planned for near-term ordering, while renewable pipeline stands at 22 GW (3.6 GW commissioned, 8.4 GW under execution). Management guided for 3 GW renewable commissioning in FY25 and 5 GW in FY26. The IPO of NTPC Green Energy Ltd is planned for Oct-Nov 2024. Key risk: execution delays in renewable projects due to land and module procurement issues, though largely addressed.
Colored figures show movement against the previous available record.
Guidance to track
- 10.4 GW to be tendered in FY25, 3.2 GW in FY26, 1.6 GW in FY27. Includes Sipat, Darlipali, Meja, etc.
- Total 22.5 GW capacity addition planned over next three years including thermal, hydro, and renewable.
- Captive coal production expected to reach 50 million tonnes per annum within three years.
- DRHP filing post-June 2024; NTPC to remain holding company post-IPO.
Risks flagged
- Commissioning of renewable projects slower than guided due to module import clearance delays and land acquisition issues.
- INR 776 crores under-recovery in FY24 due to lower availability at Barh and Barauni plants; though management expects reduction.
- Dividend from JVs and subsidiaries fell from INR 2,336 crores in FY23 to INR 1,630 crores in FY24 due to retained earnings for reinvestment.
- Out of 15.2 GW planned, only 8 GW has PPAs signed; remaining 7 GW needs tie-up with states/ministry.
Key quotes
- We are of the view that the market is quite conducive. And there is a buoyancy. Investors are upbeat as regards investment opportunity in the green area.
- The complete effect of the capitalization and the incremental equity, regulated equity, benefit will be shown in the next year.
- We are holding to our target, our target of 10 GW in PSP.
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