Is NTPC Green Energy Ltd (NTPCGREEN) a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that NTPC Green Energy Ltd is a below average quality company .

Is NTPC Green Energy Ltd (NTPCGREEN) undervalued or overvalued?

The key valuation ratios of NTPC Green Energy Ltd's currently when compared to its past seem to suggest it is in the Fair zone .

What is NTPC Green Energy Ltd (NTPCGREEN) share price return in the past 10 years?

Data is not available for this company

Is NTPC Green Energy Ltd (NTPCGREEN) a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of NTPC Green Energy Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

What is the share price of NTPC Green Energy Ltd (NTPCGREEN)?

Company share prices are keep on changing according to the market conditions. The current trading price of NTPC Green Energy Ltd (NTPCGREEN) on 13-Apr-2026 16:59:59 at 16:59 is 104.21.

What is the market cap of NTPC Green Energy Ltd (NTPCGREEN)?

Market capitalization is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Apr-2026 at 16:59, the market cap of NTPC Green Energy stood at Rs. 87810.78 Cr.

What is the P/E ratio of NTPC Green Energy?

The latest standalone P/E ratio of NTPC Green Energy as of 13-Apr-2026 is 169.96.

What is the P/B ratio of NTPC Green Energy Ltd (NTPCGREEN)?

The latest standalone P/B ratio of NTPC Green Energy Ltd (NTPCGREEN) as of 13-Apr-2026 is 4.67.

What is the 52-week high and low of NTPC Green Energy Ltd (NTPCGREEN)?

The 52-week high of NTPC Green Energy Ltd (NTPCGREEN) is Rs. 117.80 and the 52-week low is Rs. 84.08.

What is the TTM revenue of NTPC Green Energy Ltd (NTPCGREEN)?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of NTPC Green Energy is Rs. 2016.29 (Cr.).

NTPC Green Energy Ltd (NTPCGREEN) Share Analysis – Quality, Valuation Zone & Price Trend & DeciZen Rating

Name: NTPC Green Energy Ltd (NTPCGREEN)
Brand: NTPC Green Energy

10 Year X-Ray :

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'23	Mar'24	Mar'25	TTM
ROCE % ⓘ	1.1%	9.8%	6.5%	-
Value Creation Index ⓘ	-0.9	-0.1	-0.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	170	1,951	2,023	2,016
Sales YoY Gr.	-	1,049.8%	3.7%	-
Adj EPS ⓘ	0.4	0.7	0.6	0.6
YoY Gr.	-	75.7%	-10.8%	-
BVPS (₹) ⓘ	10.4	11	21.9	22.3
Adj Net Profit ⓘ	174	370	489	514
Cash Flow from Ops. ⓘ	37.9	1,605	1,888	-
Debt/CF from Ops. ⓘ	133.5	5.1	4.3	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	NA	NA	NA	3.7%
Adj EPS ⓘ	NA	NA	NA	-10.8%
BVPSⓘ	NA	NA	NA	100.4%
Share Price	-	-	-	8.7%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'23	Mar'24	Mar'25	TTM
Return on Equity % ⓘ	3.6	6.6	4	2.8
Op. Profit Mgn % ⓘ	91.5	89.6	86.1	85.3
Net Profit Mgn % ⓘ	102.8	19	24.2	25.5
Debt to Equity ⓘ	1	1.3	0.4	-
Working Cap Days ⓘ	0	169	158	214
Cash Conv. Cycle ⓘ	0	63	83	76

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.44

Return on Equity has declined versus last 3 years average to 2.80%

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 1.96%

	Standalone	Consolidated
TTM EPS (₹)	0.6	0.7
TTM Sales (₹ Cr.)	2,016	2,568
BVPS (₹) ⓘ	22.3	22.3
Reserves (₹ Cr.) ⓘ	10,372	10,371
P/BV ⓘ	4.67	4.67
PE ⓘ	169.96	157.15

From the Market
52 Week Low / High (₹)	84.08 / 117.80
All Time Low / High (₹)	84.08 / 155.30
Market Cap (₹ Cr.)	87,811
Equity (₹ Cr.)	8,426.3
Face Value (₹)	10
Industry PE ⓘ	35.7

PARTICULARS	Mar'23	Mar'24	Mar'25
Sales	170	1,951	2,023
Operating Expenses ⓘ +	14	203	281
Manufacturing Costs	7	131	151
Material Costs	0	0	0
Employee Cost	3	37	62
Other Costs ⓘ	5	35	68
Operating Profit ⓘ	155	1,748	1,741
Operating Profit Margin (%)	91.5%	89.6%	86.1%
Other Income ⓘ +	1	78	251
Exceptional Items ⓘ	0	0	0
Interest ⓘ	50	679	657
Depreciation ⓘ	50	633	667
Profit Before Tax ⓘ	56	513	668
Tax ⓘ	-118	143	179
Profit After Tax	174	370	489
PAT Margin (%)	102.8%	19.0%	24.2%
Adjusted EPS (₹)	0.4	0.7	0.6
Dividend Payout Ratio (%)	0%	0%	0%

PARTICULARS	Mar'23	Mar'24	Mar'25
Equity and Liabilities
Shareholders Fund +	4,894	6,265	18,487
Share Capital ⓘ	4,720	5,720	8,426
Reserves ⓘ	174	545	10,060
Debt +	4,881	7,542	7,472
Long Term Debt	4,881	7,542	7,422
Short Term Debt	0	0	50
Minority Interest	0	0	0
Trade Payables	102	61	78
Others Liabilities ⓘ	7,002	4,454	4,389
Total Liabilities ⓘ	16,879	18,322	30,426
Fixed Assets
Net Fixed Assets ⓘ +	14,000	15,184	15,300
Gross Block	15,676	17,498	18,311
Accumulated Depreciation	1,676	2,314	3,011
CWIP ⓘ	902	284	39
Investments ⓘ	1,094	1,445	10,792
Inventories	12	25	25
Trade Receivables	326	699	479
Cash Equivalents	10	470	3,482
Others Assets ⓘ	534	215	309
Total Assets ⓘ	16,879	18,322	30,426

PARTICULARS	Mar'23	Mar'24	Mar'25
Cash Flow From Operating Activity ⓘ +	38	1,605	1,888
PBT ⓘ	56	513	668
Adjustment ⓘ	94	1,189	1,032
Changes in Working Capital ⓘ	-112	-94	191
Tax Paid ⓘ	0	-3	-3
Cash Flow From Investing Activity ⓘ +	-9,777	-4,922	-13,013
Capex	-3	-4,727	-743
Net Investments	-1,094	0	0
Others ⓘ	-8,680	-195	-12,270
Cash Flow From Financing Activity ⓘ +	9,749	3,420	11,013
Net Proceeds from Shares ⓘ	0	1,000	11,780
Net Proceeds from Borrowing ⓘ	4,881	3,108	-121
Interest Paid ⓘ	-50	-673	-652
Dividend Paid ⓘ	0	0	0
Others ⓘ	4,919	-15	5
Net Cash Flow ⓘ	10	103	-113

PARTICULARS	Mar'23	Mar'24	Mar'25
Ratios
ROE (%)	3.56	6.64	3.95
ROCE (%)	1.07	9.78	6.46
Asset Turnover Ratio	0.01	0.11	0.08
PAT to CFO Conversion(x)	0.22	4.34	3.86
Working Capital Days
Receivable Days	700	96	106
Inventory Days	25	3	4
Payable Days	0	0	0

About NTPC Green Energy Ltd

NTPC Green Energy Limited was incorporated on April 7, 2022 for the reorganisation of NTPC Limited’s renewable energy business. Pursuant to the issuance of National Monetisation Pipeline (NMP) by the Ministry of Finance on August 23, 2021, and in consultation with the Ministry of Power, the Renewable Energy (RE) assets of NTPC Limited were transferred to the company at book value, through a business transfer agreement dated July 8, 2022. Further, NTPC Limited also transferred 100% of its equity shareholding held in NTPC Renewable Energy Limited (NREL) to the company through a share purchase agreement dated July 8, 2022. The transfer of the RE assets and 100% equity shareholding in NREL, were completed on February 28, 2023.

The company is a wholly owned subsidiary of NTPC, a ‘Maharatna’ central public sector enterprise. It is the largest renewable energy public sector enterprise (excluding hydro) in terms of operating capacity as of September 30, 2024 and power generation in Fiscal 2024. Its renewable energy portfolio encompasses both solar and wind power assets with presence across multiple locations in many states which helps mitigate the risk of location-specific generation variability. It is strategically focused on developing a portfolio of utility-scale renewable energy projects, as well as projects for public sector undertakings (PSUs) and Indian corporates. Its projects generate renewable power and feed that power into the grid, supplying a utility or offtaker with energy.

The company is promoted by its parent company -- NTPC, India’s largest power company both in terms of installed capacity as of March 31, 2024 and power generation in Fiscal 2024. The company is a public sector enterprise under the ownership and administrative control of the Ministry of Power (MOP) of the Government of India (GoI).

Business area of the company

The company is mainly engaged in the activity of developing, building, owning, operating and maintaining utility scale grid connected solar and wind power projects (through O&M operations and in-house engineering).

Awards, accreditations and recognitions

2023: Awarded the Green Ribbon Champions award by Network 18 media house for its commitment to sustainability.
History and milestones
2023: The company acquired 15 renewable assets with a combined capacity of 2,861 MW, as well as equity shareholding in NTPC Renewable Energy Limited, from its Corporate Promoter, NTPC Limited.
2023: The company and Indian Oil Corporation Limited incorporated a joint venture company ‘Indianoil NTPC Green Energy Private Limited’ (INGEL) for the purpose of developing grid connected and/or off-grid renewable energy-based power projects.
2023: Its wholly owned Subsidiary, NTPC Renewable Energy Limited launched its first wind project, with a capacity of 50 MW, in Dayapar, Bhuj, Gujarat.
2024: Its wholly owned Subsidiary, NTPC Renewable Energy Limited launched its first solar project in Chhattargarh, Rajasthan with a capacity of 150 MW.
2024: The company commissioned a 40 MW solar photovoltaic project in Ayodhya.
2024: Its operational capacity exceeded 3 GW on a consolidated level.
2024: 50 MW capacity of the total 220 MW Shajapur Solar Project, owned by its material subsidiary, NTPC Renewable Energy Limited, was declared commercially operational.

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NTPC Green Energy Ltd (NTPCGREEN) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

NTPC Green Energy Share Price