Sunita Somvanshi
NTPC Green Energy posted a solid 59.07% year‑on‑year jump in net profit to ₹220.48 crore for Q1 FY26, while revenue surged 17.59% to ₹680 crore compared to the same quarter last year.
Key financial highlights:
- Consolidated profit after tax: ₹220.48 crore (up 59.07% YoY, down 5.5% QoQ)
- Revenue: ₹680 crore (up 17.59% YoY)
- EBITDA: ₹603 crore (up 15.8% YoY)
- EBITDA margin: ~88.6% (year‑on‑year)
The company’s shares reacted positively initially, with the stock closing at ₹107.28 on July 25, 2025. The market capitalization stood at ₹89,319 crore.
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Capacity Expansion
NTPC Green Energy continues its capacity expansion push as part of the parent NTPC Group’s ambitious renewable goals. NTPC Group added 3,312 MW of renewable capacity in FY25 (group total), bringing its combined commercial capacity to 79,930 MW by March 31, 2025. During Q1 FY26, NTPC Green Energy itself added 260 MW of new capacity, increasing its total operational capacity to 3.4 GW, with another 7.4 GW under implementation.
Project Updates
NTPC Green Energy is in discussions for battery energy storage projects with state utilities, including in Bihar, though no formal MoU details are publicly available. These initiatives align with India’s broader push toward solar and wind power that drove a record 30% renewable electricity surge worldwide in 2023.
Policy & Funding Support
The renewable energy firm received a boost from the Cabinet, which approved higher green investment limits, raising NTPC’s investment cap for renewables to ₹20,000 crore to support its 60 GW clean power goal by 2032. This comes as India’s Green Hydrogen Mission aims to cut fossil fuel imports by INR 1 trillion.
Financial Health
On the financial front, NTPC reported a strong debt‑servicing capacity with an operating profit to interest ratio of 2.93×.
Analyst Outlook
Consensus of four analysts—three “Buy” and one “Sell”—with an average 12‑month target implying ~5.9% downside.
Innovation in Technology
NTPC has been exploring floating solar technologies as evidenced by its tender for a 56 MW floating solar project with a 60 MW/240 MWh battery storage system at North Karanpura, which adds to its portfolio of ground‑mounted installations.
The Q1 results come amid India’s aggressive renewable energy targets, which form part of the global push toward clean energy.NTPC Green Energy’s mandate to reach 60 GW of green capacity by 2032 forms a critical component of India’s national renewable energy strategy, as confirmed by multiple company filings and government announcements.
