About the company:
NTPC Limited (National Thermal Power Corporation) is India’s largest power generation company, owned by the Government of India under the Ministry of Power. Established in 1975 and headquartered in New Delhi, NTPC operates a diverse energy portfolio, including thermal (coal & gas), hydro, solar, wind, and nuclear power. With an installed capacity of over 73 GW (as of 2025), NTPC is expanding aggressively into renewable energy (targeting 60 GW by 2032) and green hydrogen projects. The company plays a critical role in India’s energy security, focusing on sustainability, efficiency, and cleaner energy transition.
Key Business Highlights:
Operational Performance:
Power Generation: 327 billion units in 9M FY25 (+4% YoY).
Plant Load Factor (PLF): 76.2% for coal stations (higher than the national average of 67.2%).
Coal Mining: Record coal production of 30.88 MMT (+23% YoY), reducing reliance on imports.
Renewable & Green Energy Expansion:
NTPC Green Energy Ltd. (NGEL) successfully listed, raising growth capital.
Added 640 MW of renewable capacity in 9M FY25; total RE capacity at 3,475 MW.
Targeting 60 GW of renewable capacity by 2032.
Green Hydrogen: Launched India’s first Green Hydrogen Hub in Andhra Pradesh.
Capacity Expansion & Capex:
New thermal power approvals: 8 GW in FY25 (~₹1 lakh crore investment).
Total under-construction capacity: 30 GW (17.56 GW thermal, 10.3 GW RE, 2.2 GW hydro).
Planned coal production: To rise from 40 MMT in FY25 to 67 MMT by FY29.
Capex (9M FY25): ₹31,133 crore (₹16,305 crore standalone).
Strategic Joint Ventures & Partnerships:
JV with ONGC for offshore wind projects.
JV with Rajasthan & Maharashtra for renewable energy parks.
MOU with Bihar, Chhattisgarh for large-scale solar and green hydrogen projects.
Emission Reduction & Sustainability:
FGD (Flue Gas Desulfurization) Systems: 16.48 GW commissioned, 52 GW under execution.
Biomass usage: 4.29 lakh metric tons in Q3 (6x increase YoY).
Solar-hydrogen microgrid launched for Indian Army in Ladakh.
Future Outlook & Guidance:
FY25 Capacity Addition Target: 6,976 MW (2,780 MW thermal, 3,946 MW RE, 250 MW hydro).
FY26-FY27 Expansion: 17.7 GW capacity addition planned, with increasing RE focus.
Thermal Power Expansion: 7.2 GW planned via brownfield projects only.
Higher Q4 Earnings Expected: Lower planned outages & improved fixed cost recovery.
NTPC Financial Performance for the Last Three Quarters (FY25)
| Metric | Q3 FY25 | Q2 FY25 | Q1 FY25 |
|---|---|---|---|
| Revenue | ₹42,303 crore | ₹44,983 crore | ₹41,315 crore |
| Net Profit (PAT) | ₹4,711 crore | ₹4,726 crore | ₹4,434 crore |
| Total Income | ₹42,303 crore | ₹44,983 crore | ₹41,315 crore |
| EBITDA Margin | Stable | Stable | Stable |
| Group PAT | ₹16,056 crore (9M) | ₹11,345 crore (H1) | ₹6,619 crore (Q1) |
| Capex (9M FY25) | ₹31,133 crore | ₹23,527 crore | ₹16,305 crore |
Recent updates:
Highlights from last con call:
Financial Performance:
Revenue: ₹42,303 crore (+5% YoY)
Net Profit: ₹4,711 crore (+3% YoY)
Total Income (9M FY25): ₹1,28,601 crore (+6% YoY)
Group PAT (9M FY25): ₹16,056 crore (+8% YoY)
EBITDA Margin: Maintained stable performance across quarters.
Declared second interim dividend of ₹2.50 per share.