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NTPC · NSE · Power Generation

NTPC Ltd

What the numbers mean, from its filings and the exchange. Data as of 12 Oct 2026.
Large Cap · AMFI list Jan-Jun 2026 · Vendor sector: Utilities
cheap low confidence No valuation within 120 days; P/E 10.9 vs peers 27.0 (1st of 11); P/B 2.1 vs peers 3.8 (3rd of 11).
Cheap for a reason: Revenue 2.5% a year over 3 years.
Statements through FY2026Prices adjusted for 2 corporate actionsNot yet reviewed by the adversarial model

What is NTPC's share price today?

NTPC last traded at ₹310.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.6% on the day, down 8.7% over a year. Its 52-week range is ₹306 to ₹414. The live price is in the app.

₹310.00 −0.6% today
−8.7% over 1 year · NSE, as of 12 Oct 2026, 11:00 pm IST
60 month-end closes, 31 Oct 2021 to 30 Sep 2026, adjusted for splits and bonuses
52-week range4% of the way up
Low ₹306High ₹414

What is NTPC's market cap?

NTPC's market capitalisation is about ₹3.03 lakh crore: what it would cost to buy every share at today's price. That makes it the 27th largest large cap company we cover.

₹3.0 L Cr Large Cap27th largest large cap company
Large Cap means the 100 largest listed companies, under SEBI's rules. Shares in issue are worked out from the market cap and the price. What market cap tells you →

Key facts

From the exchange
Symbol
NSE: NTPC
ISIN
INE733E01010
Cap bucket
Large Cap, 27th largest by market cap
Industry (NSE)
Utilities › Power › Power Generation
Listed since
2004
Futures and options
Traded

Is NTPC overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 10.9 vs peers 27.0 (1st of 11); P/B 2.1 vs peers 3.8 (3rd of 11). Cheap for a reason: revenue 2.5% a year over 3 years.

Valuation

Latest price and trailing 12 months
P/E 10.90
vs peers 27.0 · 1st of 11
Price divided by last year's earnings per share: how many years of today's profit you pay for. Learn more →
P/B 2.06
vs peers 3.8 · 3rd of 11
Price divided by book value per share: what you pay for each rupee of net assets on the balance sheet. Learn more →
Market cap ₹3.03 lakh Cr
Total market value of all shares, in ₹ crore. Learn more →
Dividend yield 2.4%
vs peers 1.5% · 2nd of 7
Last year's dividends as a share of today's price. Learn more →
PEG (vendor) 2.78
vs peers 25.2 · 1st of 5
P/E divided by the vendor's earnings growth figure, which it does not disclose; a P/E adjusted for how fast profits grow. Learn more →
PEG on our 3-year EPS growth 0.64
P/E divided by the 3-year EPS growth rate from the stored accounts. Learn more →
3 models could be judged
Skipped — Fair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored

Our valuation range

🔒 Pro
Value range, implied growth at today's price, and the nine models behind it: in the app.

Is NTPC a quality business?

Quality score 64.8, 2nd of 11 in its peer set; WATCH on 28 of 30 flags judged.

Quality and risk

Data as of 12 Oct 2026
Business quality Not available
The kind of business, which sets the yardstick it is judged by. Learn more →
Quality score 64.8
vs peers 58.0 · 2nd of 11
Returns, margins, leverage and consistency against its peers, out of 100. Learn more →
Risk level WATCH
28 of 30 flags judged
From flags on debt, earnings quality, dilution and price swings. Learn more →

Profitability

ROE 13.8%
vs peers 7.1% · 4th of 11
Return on equity: profit as a share of shareholders' money. Learn more →
ROCE 8.3%
vs peers 7.5% · 5th of 11
Return on capital employed: operating profit as a share of all the capital in the business, debt and equity. Learn more →
Profit margin 13.9%
vs peers 14.1% · 6th of 11
Profit after everything, as a share of revenue. Learn more →
EPS ₹28.41
Trailing 12 months
Profit for each share over the last 12 months.

Scorecard

🔒 Pro
Health scores and red flags with their values and history: in the app.
See the scorecard →
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Has NTPC made money for shareholders?

Mixed: −8.7% over one year and +17.9% a year over five years.

Shareholder returns

1-year return −8.7%
Price only
What the share price did over the last 12 months. Learn more →
5-year return +17.9% a year
Price only
Yearly average price return over five years, bonuses and splits adjusted. Learn more →
Wealth destroyer No
Five-year total return — price CAGR on bonus- and split-adjusted closes plus the dividend yield — below the 7% a bank fixed deposit paid. Learn more →

Returns

3Y and 5Y are yearly averages
1W
−3.0%
1M
−5.3%
3M
−11.3%
6M
−19.2%
1Y
−8.7%
3Y
+11.0%
5Y
+17.9%

Does NTPC pay a dividend?

Yes. NTPC's dividend yield is 2.43% at the latest price; the last payout was ₹3.50 a share, ex-dividend 2 Sep 2026.

Dividends

Per share, by ex-dividend date
Dividend yield2.43%
The past 12 months' dividends as a share of today's price.
2 Sep 2026 · Final₹3.50
6 Feb 2026 · Interim 2₹2.75
7 Nov 2025 · Interim 1₹2.75
7 Nov 2025 · Interim₹2.75
4 Sep 2025 · Final₹3.35
Payout ratio🔒 In the app
The share of profit paid out as dividends; a very high share leaves little to reinvest.
Dividend growth, 5 years🔒 In the app
How fast the dividend per share has grown a year.
Years without a miss🔒 In the app
How many years in a row a dividend has been paid.

Is NTPC growing?

Revenue 3 years 2.5% a year; profit 3 years 16.9% a year; revenue 5 years 7.7% a year.

Growth

Statements through FY2026 (Mar-26)
Revenue 3 years 2.5% a year
vs peers 9.8% · 10th of 11
Compound annual growth of revenue over three years. Learn more →
Profit 3 years 16.9% a year
vs peers 10.5% · 5th of 11
Compound annual growth of net profit over three years. Learn more →
Revenue 5 years 7.7% a year
Compound annual growth of revenue over five years. Learn more →
Profit 5 years 10.7% a year
Compound annual growth of net profit over five years. Learn more →
EPS 3 years 16.9% a year
Growth in earnings per share, so dilution counts against the company. Learn more →
EPS 5 years 13.3% a year
Growth in earnings per share over five years, so dilution counts against the company. Learn more →
P/E vs own history -17.9%
vs peers -13.7% · 4th of 10
Today's P/E against its own 5-year median; negative is cheaper than its history. Learn more →

How did NTPC do last quarter?

NTPC reported revenue of ₹50,741 Cr, down 0.4% on a year earlier and a net profit of ₹6,896 Cr, up 15.0% in the Jun 2026 quarter.

Latest quarter

Jun 2026
Revenue, latest quarter₹50,741 Cr
−0.4% on a year earlier
What the company took in over the quarter.
Net profit, latest quarter₹6,896 Cr
+15.0% on a year earlier
What was left for shareholders after every cost and tax.

How does NTPC compare with its peers?

Compared with 10 Power (the industry, as the basic industry was too small); 1st of 11 on P/E; 2nd of 11 on quality score.

Compared with 10 Power (the industry, as the basic industry was too small)

10 companies

NTPC against its peers

Largest 10 of 10 peers, by market cap
CompanyMarket capP/EP/BROEROCE1YQuality 🔒Rank 🔒
NTPC Ltd₹3.0 L Cr10.92.113.8%8.3%−8.7%
Adani Power Ltd₹3.6 L Cr25.65.722.1%18.0%+22.4%
Power Grid Corporation of India Ltd₹2.3 L Cr14.62.816.6%9.7%−12.9%
Adani Green Energy Ltd₹2.1 L Cr120.38.97.0%5.5%+19.4%
Adani Energy Solutions Ltd₹1.5 L Cr51.95.42.8%4.9%+34.6%
Tata Power Company Ltd₹1.1 L Cr28.36.86.1%7.4%−12.5%
JSW Energy Ltd₹84,762 Cr41.23.53.7%4.8%−15.1%
NTPC Green Energy Ltd₹78,028 Cr130.44.12.2%4.1%−6.2%
NHPC Ltd₹73,319 Cr20.71.912.8%7.6%−15.6%
Torrent Power Ltd₹59,894 Cr25.83.514.1%14.7%−7.4%
NLC India Ltd₹33,772 Cr12.11.97.2%8.8%−9.8%
Peer median—27.03.87.1%7.5%−8.6%
Market cap in rupees crore; P/E and P/B on the latest price; 1Y is the price return over a year. A dash is a figure that does not apply or is not reported.

Full peer comparison

🔒 Pro
Every peer, every figure, the ranks and the quality and forensic scores side by side: in the app.

Who owns NTPC?

NTPC is held by promoters 51.1%, foreign institutions 16.3%, domestic institutions 29.3%.

Shareholding pattern

Latest filing, percent of shares
Promoters51.1%
The founders and controlling group.
Foreign institutions16.3%
Overseas funds investing through the FPI route.
Domestic institutions29.3%
Indian insurers, banks, pension and mutual funds together.
Mutual funds17.4%
Indian mutual fund schemes; part of domestic institutions.
Retail and others2.3%
Individual investors and everyone else.
Promoter shares pledged🔒 In the app
Promoter shares given as collateral for loans; a high share is a risk to watch.
Holding trend🔒 In the app
Whether promoters, foreign funds and mutual funds have been adding or selling over recent quarters.

What do analysts say about NTPC?

29 analysts cover NTPC, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Analyst consensus

29 analysts
ConsensusBuy
The rating most covering analysts give the share.
Average target price🔒 In the app
The mean of the analysts' 12-month price targets.
Upside to target🔒 In the app
How far the target sits above or below today's price.
Share rating it a buy🔒 In the app
The share of covering analysts with a buy rating.

What does NTPC do and what is it sensitive to?

NTPC Limited generates and sells bulk electricity primarily to state-owned utilities, private distribution companies and railways through long-term power purchase agreements. Sensitive to: coal prices and grade variation.

Business-model card

FY2025 · 48 verified
4Revenue
4Channels
6Regulators
6Reg. dependencies
5Sensitivities
6Costs
1Geographies

NTPC Limited generates and sells bulk electricity primarily to state-owned utilities, private distribution companies and railways through long-term power purchase agreements. The company earns revenue from energy sales, power trading through subsidiary NVVN, and ancillary services including consultancy, operation & maintenance, and coal mining.

Revenue by segment

year ended 31 March 2025 (consolidated)
Generation of energy95.1%
Others4.9%

Revenue engine

4 verified
Generation of energy
Sale of electricity to bulk customers comprising state utilities and private distribution companies pursuant to long-term Power Purchase Agreements (PPAs); revenue recognized over time as customers simultaneously receive and consume benefits
Consultancy, project management and supervision services
Revenue recognized over time as customers receive and consume benefits; determined per contract terms; revenue adjusted for variable consideration based on historical data
Energy purchase for trading
Purchase of energy mainly from solar power plants set up under National Solar Mission; expenditure of ₹3,767.70 crore in FY25
1 more statement
Coal mining from integrated coal mines
Supply of coal from captive coal mines; captive coal cost was ₹6,432.93 crore in FY25

Customers & channels

4 verified
State-owned Electricity Distribution Companies (Discoms) and State Power Departments
Bulk power customers via long-term PPAs; primary customer base comprising state utilities owned by State Governments
Indian Railways
Bulk customer receiving power supply under long-term contracts
Private distribution companies
Private Discoms operating in states receive power pursuant to PPAs
1 more statement
Regional Power Committees and power sector personnel
Beneficiary of training programs through Power Management Institute (PMI) of NTPC; capacity building for power sector personnel in managerial and leadership skills

Regulators

6 verified
Central Electricity Regulatory Commission (CERC)
Determines tariff through regulatory petitions; has disallowed certain capital expenditure, against which parent company has filed appeals with APTEL/Supreme Court
Appellate Tribunal for Electricity (APTEL)
Hears appeals against tariff orders issued by CERC
Central Electricity Authority (CEA)
Governs electricity generation capacity and grid development
3 more statements
Ministry of Coal
Governs coal block allocation; company participates in auctioning of coal blocks by Ministry of Coal for acquisition of new coal reserves
Ministry of Mines
Governs mineral block allocation for non-coal mining operations
State Governments and Regional Power Committees
Regulate electricity distribution and consumption at state level; allocate mineral blocks; govern power sector operations within states

Regulatory dependencies

6 verified
Tariff determination by CERC through Power Purchase Agreement (PPA) framework
CERC determines tariff which affects revenue from energy sales; disallowances of capital expenditure reduce recognised costs and future revenue; appeals to APTEL/Supreme Court could reverse disallowances
Coal block allocation through Ministry of Coal auctions
Acquisition of coal blocks via auction determines access to fuel supply; affects fuel costs and operational continuity for thermal generation
Revamped Distribution Sector Scheme (RDSS, 2021) and distribution sector reform measures
Government schemes aimed at revitalizing DISCOMs through prepaid smart meters and performance measures strengthen financial viability of distribution companies, potentially improving their ability to pay for power
3 more statements
Power and carbon credit trading scheme regulations and carbon market development
Enabling policies and regulations for carbon markets can create new revenue streams; company positioning to be major player in carbon trading domain
Electricity Act, 2003 and related statutory compliance framework
Governs generation, transmission and distribution of electricity; defines regulatory framework for company operations and customer relationships
Tri-Partite Agreement (TPA) and Letters of Credit (LC) payment security mechanism
Robust payment security mechanism for electricity sales to state utilities backed by LC and TPA; protects against credit risk from primary customer base

Sensitivities

5 verified
Coal prices and grade variation
Fuel expenditure increased 4.40% due to price variation on account of settlement of grade variation and surface transportation charge (STC) claims; decrease of 0.96% from less consumption of imported coal; fuel accounts for ~80% of operational expenditure
Interest rates on floating rate borrowings
Company exposed to interest rate risk from non-current borrowings with floating interest rates; cash flows from floating rate debt fluctuate with changes in interest rates
Foreign exchange rates (USD, Euro, JPY and other currencies)
Company has foreign currency borrowings and contracts denominated in third currencies; exchange differences on settlement/translation of monetary items recognized in profit/loss
2 more statements
Renewable energy integration and weather dependency
As renewable energy capacity grows within grid, both electricity supply and demand become increasingly weather dependent; this shift makes security and reliability of power supply more critical
Sectoral electricity consumption patterns
Industrial consumption grows at 8.6%, commercial at 6.6%, domestic at 6.2%, agricultural at 4.6%; shifts in sectoral mix and consumption patterns affect demand for company's thermal power generation

Cost inputs

6 verified
Oil and Naphtha
Tertiary fuel inputs; combined ₹1,211.60 crore in FY25 (1.2% of total fuel expenditure)
Biomass pellets and other chemicals
Emerging fuel input; ₹566.55 crore in FY25 (0.6% of total fuel expenditure), up significantly from ₹158.52 crore in FY24
Employee benefits and wages
Salaries, wages, bonus, allowances, benefits and provident fund contributions; comprise approximately 15% of operational expenditure in FY25; ₹958.37 crore in employee benefits expense
3 more statements
Finance costs
Borrowing costs including interest on bonds, term loans, and foreign currency loans; ₹11,057.04 crore in FY25; includes exchange differences on foreign currency borrowings and other borrowing costs
Energy purchased for trading
Expenditure on purchase of energy mainly from solar power plants under National Solar Mission; ₹3,767.70 crore in FY25
Repairs and maintenance
Plant and equipment maintenance; ₹103.79 crore in FY25 including buildings, plant equipment and other repairs

Geographies

1 verified
Nepal and Bangladesh (export markets)
Subsidiary NVVN Ltd. exports energy through trading; exported ₹947.33 crore in FY25 to these countries; minimal contribution to total revenue (outside India revenue ₹4.17 crore)
Each statement is checked word for word against the FY2025 annual report; the passages are in the app.

What changed recently?

Dividend - Rs 3.50 Per Share (2 Sep 2026).

Change log

8 entries · newest first
  1. Corporate actionDividend - Rs 3.50 Per Share.
  2. Results filedQ1 FY2027 results filed.
  3. Results filedQ4 FY2026 results filed.
  4. Corporate actionInterim Dividend - Rs 2.75 Per Share.
  5. Results filedQ3 FY2026 results filed.
  6. Corporate actionInterim Dividend - Rs 2.75 Per Share.
  7. Results filedQ2 FY2026 results filed.
  8. Corporate actionDividend - Rs 3.35 Per Share.
Get alerts →Sign in to be told when any of these change.

What this page does not tell you

What could not be judged, and why. Never empty.
  • Models not runFair value, EPV, Graham number, Graham value, Lynch, Owner earnings: no valuation stored.
  • FlagsWATCH on 28 of 30 flags judged; 2 red; 2 could not be judged.
  • Data gapsBusiness quality: not available yet.
Not applicable to this company · 1
  • Altman ZAltman Z is a manufacturing model; a service business has no inventory or plant turnover for it to read.

What this page rests on

✓10 years of annual statements, through FY2026 (Mar-26)✓10 quarters of results✓263 months of month-end prices, adjusted for bonuses and splits (2 corporate actions)○no valuation of ours yet✓business-model card FY2025 · 48 verified

Questions people ask

What is NTPC's share price today?

NTPC last traded at ₹310.00 on the NSE, as of 12 Oct 2026, 11:00 pm IST, down 0.6% on the day, down 8.7% over a year. Its 52-week range is ₹306 to ₹414. The live price is in the app.

What is NTPC's market cap?

NTPC's market capitalisation is about ₹3.03 lakh crore: what it would cost to buy every share at today's price. That makes it the 27th largest large cap company we cover.

Is NTPC Ltd a large cap, mid cap or small cap?

NTPC Ltd (NTPC) is a large cap company in AMFI's classification for Jan-Jun 2026. SEBI's buckets go by rank on six-month average market capitalisation: the top 100 are large caps, 101 to 250 mid caps, the rest small caps.

What is NTPC Ltd's P/E ratio?

10.90, vs peers 27.0 · 1st of 11. Price divided by last year's earnings per share: how many years of today's profit you pay for.

Is NTPC Ltd overvalued?

Cheap, with low confidence: no valuation within 120 days; P/E 10.9 vs peers 27.0 (1st of 11); P/B 2.1 vs peers 3.8 (3rd of 11). Cheap for a reason: revenue 2.5% a year over 3 years.

How does NTPC Ltd make money?

NTPC Limited generates and sells bulk electricity primarily to state-owned utilities, private distribution companies and railways through long-term power purchase agreements. The company earns revenue from energy sales, power trading through subsidiary NVVN, and ancillary services including consultancy, operation & maintenance, and coal mining.

Who are NTPC Ltd's peers?

Compared with 10 Power (the industry, as the basic industry was too small): Adani Power Ltd, Power Grid Corporation of India Ltd, Adani Green Energy Ltd, Adani Energy Solutions Ltd, Tata Power Company Ltd and 5 more. The app shows how they compare on every figure.

Is this investment advice?

No. Valarth is a research and learning tool and is not a SEBI-registered investment adviser or research analyst. The figures come from the company's filings and the exchanges; what to do with them is your call.

How did NTPC do last quarter?

NTPC reported revenue of ₹50,741 Cr, down 0.4% on a year earlier and a net profit of ₹6,896 Cr, up 15.0% in the Jun 2026 quarter.

Who owns NTPC?

NTPC is held by promoters 51.1%, foreign institutions 16.3%, domestic institutions 29.3%.

Does NTPC pay a dividend?

Yes. NTPC's dividend yield is 2.43% at the latest price; the last payout was ₹3.50 a share, ex-dividend 2 Sep 2026.

What do analysts say about NTPC?

29 analysts cover NTPC, and the consensus is buy. A consensus is a count of opinions, not a forecast; read it beside the numbers.

Everything on NTPC, and 6,621 other companies, with 212 filters and the full peer tables

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