NTPC

₹430.5 -4.9 | 1.1%

WEBSITE BSE:532555 NSE : NTPC LTD 04 Oct, 16:08

Market Cap ₹417393 Cr.

Stock P/E 19.5

P/B 2.5

Current Price ₹430.5

Book Value ₹ 171.3

Face Value 10

52W High ₹448.3

Dividend Yield 1.8%

52W Low ₹ 227.8

Edit Ratio

NTPC Research see more...

Equity Research: NTPC

Overview Inc. Year: 1975Industry: Power Generation/Distribution

NTPC Limited is an primarily India-based organisation, which is engaged in the technology and sale of electricity. The predominant business activity of the Company is electric power generation with the aid of a totally coal-based thermal energy plant. The Company's commercial enterprise segments consist of Generation and Others. The Company's Other commercial enterprise includes presenting consultancy, assignment control and supervision, re-gasification, oil and gas exploration and coal mining. The Company's subsidiaries are NTPC Electric Supply Company Ltd., NTPC Vidyut Vyapar Nigam Ltd., Kanti Bijlee Utpadan Nigam Ltd., Nabinagar Power Generating Company Ltd., Bhartiya Rail Bijlee Company Ltd., ., North Eastern Electric Power Corporation Ltd.,Patratu Vidyut Utpadan Nigam Ltd THDC India Limited, NTPC Mining Ltd., NTPC EDMC Waste Solutions Private Ltd., NTPC Renewable Energy Ltd. And Ratnagiri Gas and Power Private Ltd.

NTPC Share Price

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Peer Comparison

NTPC Quarterly Results

#(Fig in Cr.)	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Net Sales	37085	43177	44175	44602	44253	43075	44983	42820	47622	48521
Other Income	639	384	506	387	492	315	401	754	1194	461
Total Income	37724	43561	44682	44989	44745	43390	45385	43575	48817	48982
Total Expenditure	25659	32381	33662	30124	32310	30220	32303	31458	33427	34504
Operating Profit	12065	11180	11019	14865	12435	13170	13081	12116	15390	14478
Interest	2408	2477	2652	3168	2860	2922	2921	3250	2955	3136
Depreciation	3821	3542	3687	3715	3848	3821	4038	4074	4271	4204
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	5836	5161	4681	7982	5727	6426	6123	4792	8164	7138
Provision for Tax	1025	1530	1991	1829	1447	1754	2020	1362	1674	1778
Profit After Tax	4811	3631	2690	6153	4280	4672	4104	3431	6490	5359
Adjustments	355	305	649	-1376	580	201	511	1725	-321	115
Profit After Adjustments	5167	3937	3338	4777	4861	4873	4615	5155	6169	5474
Adjusted Earnings Per Share	5.3	4.1	3.4	4.9	5	5	4.8	5.3	6.4	5.6

NTPC Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	78951	80612	72697	81343	87202	99382	108512	110368	131387	174773	176944	183946
Other Income	2960	2652	1156	1513	5247	2380	7853	6582	4572	1918	5101	2810
Total Income	81910	83263	73854	82856	92448	101762	116365	116950	135959	176691	182045	186759
Total Expenditure	59311	63537	54787	60029	64832	76906	76976	76626	91749	127314	127034	131692
Operating Profit	22599	19726	19067	22827	27616	24856	39389	40324	44210	49377	55010	55065
Interest	3343	3705	3366	3753	4447	5605	8189	9655	9434	11447	12301	12262
Depreciation	4770	5565	5224	6010	7460	8669	10356	12450	13788	14792	16204	16587
Exceptional Income / Expenses	0	0	0	0	0	0	0	-1512	0	0	0	0
Profit Before Tax	14486	10456	10618	13689	16154	11255	21250	17390	22007	23917	28142	26217
Provision for Tax	3082	464	-163	2975	5653	-2780	9348	2421	5047	6796	6809	6834
Profit After Tax	11403	9992	10781	10714	10502	14034	11902	14969	16960	17121	21332	19384
Adjustments	0	-6	20	6	42	-298	-302	-335	-284	-209	-521	2030
Profit After Adjustments	11404	9986	10801	10720	10544	13737	11600	14635	16676	16913	20812	21413
Adjusted Earnings Per Share	11.5	10.1	10.9	10.8	10.7	13.9	11.7	15.1	17.2	17.4	21.5	22.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	1%	17%	12%	8%
Operating Profit CAGR	11%	11%	17%	9%
PAT CAGR	25%	13%	9%	6%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	83%	44%	30%	14%
ROE Average	14%	13%	12%	12%
ROCE Average	11%	10%	10%	9%

NTPC Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	87330	82094	91576	97838	103563	111356	118839	125738	135374	147023	160709
Minority's Interest	680	888	793	803	948	2908	3317	3524	3760	3930	4413
Borrowings	75542	93363	91205	104075	116776	147064	176020	180536	181871	187884	190215
Other Non-Current Liabilities	13867	14615	16667	11375	23658	22332	27740	28766	26792	34267	38546
Total Current Liabilities	29665	35946	33842	41677	45650	74653	64542	70646	76672	90825	99751
Total Liabilities	207084	226907	234084	255768	290595	358312	390458	409210	424469	463929	493634
Fixed Assets	84208	91853	92929	104532	128245	150985	187803	203245	224923	240424	258934
Other Non-Current Assets	78491	93262	110270	118067	114340	155453	136694	137673	128076	136044	136644
Total Current Assets	44385	41792	30884	33169	48009	51874	65961	68292	71452	87340	97938
Total Assets	207084	226907	234084	255768	290595	358312	390458	409210	424469	463929	493634

NTPC Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	18738	17051	475	1539	364	775	324	590	950	676	466
Cash Flow from Operating Activities	16531	14889	24125	20167	19670	18686	23890	32444	41788	47152	40785
Cash Flow from Investing Activities	-15509	-15977	-19162	-24480	-20678	-24063	-29628	-21034	-22891	-26145	-32141
Cash Flow from Financing Activities	-2709	-1475	-3899	3138	1028	4927	6004	-11049	-19172	-21217	-8246
Net Cash Inflow / Outflow	-1688	-2563	1064	-1176	19	-451	266	361	-274	-210	398
Closing Cash & Cash Equivalent	17051	14488	1539	364	383	324	590	950	676	466	863

NTPC Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	11.53	10.09	10.92	10.83	10.66	13.88	11.72	15.09	17.2	17.44	21.46
CEPS(Rs)	16.35	15.72	16.18	16.9	18.15	22.95	22.5	28.28	31.71	32.91	38.71
DPS(Rs)	5.75	2.5	3.35	4.78	5.12	6.08	3.15	6.15	7	7.25	7.75
Book NAV/Share(Rs)	88.26	82.97	92.55	98.88	104.67	112.54	120.11	129.67	139.61	151.62	165.74
Core EBITDA Margin(%)	24.66	20.99	24.39	25.98	25.4	22.41	28.81	30.25	29.88	26.93	27.96
EBIT Margin(%)	22.38	17.41	19.04	21.26	23.39	16.81	26.89	24.25	23.7	20.07	22.66
Pre Tax Margin(%)	18.19	12.85	14.46	16.69	18.34	11.22	19.41	15.59	16.59	13.57	15.77
PAT Margin (%)	14.32	12.28	14.68	13.06	11.92	13.99	10.87	13.42	12.78	9.72	11.95
Cash Profit Margin (%)	20.31	19.12	21.8	20.38	20.39	22.64	20.33	24.58	23.18	18.11	21.03
ROA(%)	5.76	4.6	4.68	4.37	3.84	4.33	3.18	3.74	4.07	3.85	4.46
ROE(%)	13.51	11.8	12.42	11.31	10.43	13.06	10.34	12.24	12.99	12.13	13.86
ROCE(%)	11.12	8.02	7.45	8.66	9.25	6.51	9.75	8.26	9.24	9.91	10.58
Receivable days	29.38	35.84	43.59	38.38	36.83	38.54	54.48	79.38	77.27	60.16	64.88
Inventory Days	24.21	31.32	37.34	30.33	26.37	26.19	32.33	34.28	27.44	25.25	32.98
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	8.67	12.17	9.83	12.76	13.27	9.75	7.18	7.05	7.85	10.05	15.65
Price/Book(x)	1.13	1.48	1.16	1.4	1.35	1.2	0.7	0.82	0.97	1.16	2.03
Dividend Yield(%)	4.79	1.7	2.6	2.88	3.02	4.49	3.74	5.78	5.19	4.14	2.31
EV/Net Sales(x)	2.07	2.6	2.76	3.04	3.05	3.06	2.59	2.79	2.56	2.21	3.13
EV/Core EBITDA(x)	7.23	10.62	10.53	10.83	9.62	12.23	7.13	7.65	7.6	7.82	10.07
Net Sales Growth(%)	9.5	2.1	-9.82	11.89	7.2	13.97	9.19	1.71	19.04	33.02	1.24
EBIT Growth(%)	-6.66	-20.57	-1.25	24.73	18.11	-18.16	74.61	-8.13	16.26	12.48	14.36
PAT Growth(%)	-9.4	-12.37	7.89	-0.62	-1.98	33.64	-15.19	25.77	13.3	0.95	24.6
EPS Growth(%)	-9.43	-12.43	8.16	-0.75	-1.64	30.28	-15.55	28.73	13.95	1.42	23.06
Debt/Equity(x)	0.93	1.25	1.09	1.16	1.26	1.55	1.69	1.67	1.55	1.51	1.46
Current Ratio(x)	1.5	1.16	0.91	0.8	1.05	0.69	1.02	0.97	0.93	0.96	0.98
Quick Ratio(x)	1.29	0.96	0.71	0.64	0.92	0.58	0.85	0.83	0.8	0.81	0.8
Interest Cover(x)	5.33	3.82	4.15	4.65	4.63	3.01	3.59	2.8	3.33	3.09	3.29
Total Debt/Mcap(x)	0.82	0.84	0.94	0.83	0.93	1.29	2.41	2.03	1.6	1.3	0.72

NTPC Shareholding Pattern

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1
FII	14.74	14	14.95	15.65	15.58	15.77	16.67	17.03	17.84	17.67
DII	30.93	31.5	31.42	30.63	30.62	30.33	29.14	28.82	27.68	27.67
Public	3.23	3.4	2.53	2.62	2.7	2.8	3.08	3.05	3.38	3.55
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53
FII	142.89	135.78	144.97	151.73	151.08	152.95	161.63	165.09	173.02	171.37
DII	299.96	305.42	304.65	297.02	296.88	294.06	282.61	279.5	268.39	268.3
Public	31.28	32.93	24.51	25.38	26.17	27.12	29.89	29.54	32.73	34.47
Others	0	0	0	0	0	0	0	0	0	0
Total	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67

Pros

Cons

Company has a low return on equity of 13% over the last 3 years.
The company has delivered a poor profit growth of 8% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.