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As of 2026-08-25
NTPC's borrowings have shown a consistent increase, rising from ₹173,058 crore in March 2019 to ₹237,131 crore in March 2024. Projections indicate this trend is expected to continue, reaching ₹250,096 crore by March 2025 and ₹271,005 crore by March 2026.
For the quarter ending June 30, 2026 (Q1 FY2026-27), NTPC reported a Net Profit of ₹6,108 crore on Revenue from Operations of ₹50,740.96 crore. This compares to a Net Profit of ₹4,726 crore on Revenue from Operations of ₹44,983 crore for the quarter ending September 30, 2023 (Q1 FY2023-24).
As of the quarter ended June 30, 2026, NTPC's key financial ratios include a Net Profit Margin of 13.25%, an EBITDA Margin of 32.78%, and an EBIT Margin of 22.46%. The Interest Coverage ratio was 3.37, and Earnings Per Share (EPS) was ₹6.93.
The stock is in a strong downtrend on a daily timeframe, with the price below its 20, 50, and 200-day Simple Moving Averages. Weekly analysis also indicates a weak downtrend. Recent market activity includes a significant upward gap on July 27, 2026, and a downside gap on July 14, 2026, suggesting increased volatility.
Key resistance levels identified are R1 at ₹342.96, R2 at ₹369.74, R3 at ₹384.24, R4 at ₹395.03, and R5 at ₹404.10. Key support levels include S2 at ₹331.20, S3 at ₹323.10, S4 at ₹316.28, S5 at ₹306.31, and S6 at ₹294.83.
Recent news includes analyst recommendations from Axis Direct favoring NTPC, Skipper, and JSW Energy. There was also an announcement on August 21, 2026, regarding the redemption and delisting of NTPC's Series 62 bonds maturing on that date. Additionally, a confirmation of redemption for Commercial Paper Series 164 was issued on August 19, 2026.
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
Trading volume was unusually high, but the closing price did not show a clear directional move.
This indicates increased participation without a clear directional signal.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | PEAK₹50,740.96 crore | ₹49,687.77 crore | ₹45,845.68 crore | ₹44,785.82 crore | ₹47,065.36 crore |
| Profit Before Tax | PEAK₹8,011.40 crore | ₹7,172.68 crore | ₹6,771.54 crore | ₹5,044.07 crore | ₹5,281.17 crore |
| Expenses | ₹43,130.11 crore | PEAK₹43,237.90 crore | ₹39,533.23 crore | ₹40,218.03 crore | ₹42,539.94 crore |
| Finance Costs | ₹3,386.04 crore | PEAK₹3,736.82 crore | ₹3,164.09 crore | ₹3,432.46 crore | ₹3,467.52 crore |
| Segment Profit Before Tax | ₹8,596.32 crore | PEAK₹9,720.06 crore | ₹8,186.09 crore | ₹7,651.18 crore | ₹8,181.78 crore |
| Other Unallocable Expenditure Net Off Un Allocable Income | PEAK₹50.92 crore | -₹140.59 crore | -₹386.31 crore | -₹40.60 crore | ₹4.82 crore |
NTPC’s pre-tax profit rose 51.7% year-on-year in the June 2026 quarter, as revenue grew 7.8% while total expenses increased only 1.4%. The combination of higher revenue and nearly flat costs expanded pre-tax margins sharply. Net profit comparisons were affected by a large tax credit in the prior quarter, but underlying profitability improved. The gap between segment and entity profit narrowed significantly, and net segment assets continued to grow.
Revenue from operations reached ₹50,740.96 crore, up 7.8% from ₹47,065.36 crore in the same quarter last year. On a sequential basis, revenue rose 2.1% from ₹49,687.77 crore in the March 2026 quarter. The year-on-year growth rate has been broadly consistent with recent quarters.
Profit before tax (PBT) jumped to ₹8,011.40 crore, a year-on-year increase of ₹2,730.23 crore, or 51.7%. Sequentially, PBT rose 11.7% from ₹7,172.68 crore.
The primary driver was the near-absence of expense growth. Total expenses were ₹43,130.11 crore, up only 1.4% year-on-year and down 0.25% from the March quarter. With revenue growing 7.8% and expenses essentially flat, the pre-tax margin widened to 15.8% from 11.2% a year earlier.
Other income was ₹400.55 crore. Excluding other income, the operating profit (revenue less total expenses) was ₹7,610.85 crore, compared with ₹4,525.42 crore in the year-ago quarter—a 68% increase.
Key expense components in the quarter:
The combination of revenue growth, lower finance costs, and overall expenses that were nearly flat produced the sharp rise in pre-tax profit.
Segment profit before tax stood at ₹8,596.32 crore, while entity PBT was ₹8,011.40 crore—a gap of ₹584.92 crore. This gap narrowed substantially from ₹2,900.61 crore in the year-ago quarter (segment ₹8,181.78 crore vs. entity ₹5,281.17 crore). The reported “Other Unallocable Expenditure Net Off Un Allocable Income” was ₹50.92 crore, which is smaller than the difference between segment and entity PBT.
Tax expense for the quarter was ₹2,263.25 crore. In the prior quarter (Q4 FY2025-26), tax expense was an unusually negative ₹-9,062.11 crore, which had inflated net profit to ₹10,614.95 crore. That one-off credit caused a 35.0% sequential decline in net profit to ₹6,896.44 crore, despite the strong PBT growth.
Year-on-year, net profit rose 12.9% from ₹6,108.46 crore. The increase was more moderate than the 51.7% PBT growth because tax expense rose from ₹1,656.60 crore to ₹2,263.25 crore, though the effective tax rate declined from 31.4% to 28.2%.
Comprehensive income was ₹6,833.62 crore, with other comprehensive income slightly negative at ₹-62.82 crore.
Net segment assets grew to ₹5,71,050.68 crore as of 30 June 2026, up ₹12,407.12 crore (2.2%) from the end of March 2026 and 7.4% higher year-on-year. The debt-equity ratio remained extremely low and stable at 0.013, essentially unchanged from prior quarters.
NTPC’s pre-tax profit rose 51.7% year-on-year because revenue grew 7.8% while total expenses increased only 1.4%. The combination of revenue growth and nearly flat expenses amplified the pre-tax margin. Net profit comparisons were affected by a large tax credit in the prior quarter, but underlying profitability improved. The gap between segment and entity profit narrowed significantly, and net segment assets continued to grow. The debt-equity ratio remained very low at 0.013.
Exchange disclosures and regulatory announcements for NTPC.
As of June 30, 2026, NTPC Limited reported a public shareholding of 48.9%, with the President of India holding the remaining stake as a Public Sector Undertaking. Key institutional investors included Life Insurance Corporation of India (0.0591%), ISIF Hybrid Long-Short Fund (0.0404%), and Nippon India Nifty 50 Value 20 Index Fund (0.0309%), while Foreign Portfolio Investors held 16.3% of total shares. The filing also disclosed that limits utilization percentages remained stable between 16.16% and 16.62% across the periods from June 30, 2025, to March 31, 2026.
NTPC Ltd. confirmed the payment of ₹148.80 crore in interest for its SRS 78 bonds (ISIN: INE733E08221) on August 25, 2026, fulfilling the yearly obligation due on that date. The payment covered an issue size of ₹2,000 crore with a record date set for August 10, 2026, following the last interest payment made on August 25, 2025. No changes to the payment frequency or redemption activities were reported in this compliance notice.
NTPC Ltd. bonds Series 62 (ISIN INE733E07KE8), maturing on August 21, 2026, have been redeemed with payments made to beneficial owners. Consequently, the company has formally requested the National Stock Exchange of India and BSE Limited to delist these securities from their Debt Market Segments effective August 21, 2026. The request was submitted by Executive Director (Finance) Aravind Babu.
NTPC Limited confirmed the full redemption of its Commercial Paper (ISIN: INE733E14CG6) on August 19, 2026, fulfilling all principal and interest payment obligations. The issuer paid a total amount of ₹1,000 crores to satisfy the maturity proceeds for Series 164. This disclosure was submitted to the National Stock Exchange of India Ltd. pursuant to SEBI regulations.
NTPC Ltd. has fixed August 31, 2026, as the record date for its Bonds Series 35 (STRPP K), ISIN INE733E07DV7, pursuant to SEBI LODR Regulations. The repayment of principal along with interest payment for this bond series is scheduled for September 15, 2026. This notification was issued by Executive Director (Finance) Aravind Babu on August 13, 2026.
NTPC Ltd. fixed September 1, 2026 as the Record Date and September 16, 2026 as the Repayment and Interest Payment Date for its Series 63 Bonds (ISIN INE733E07KF5).
NTPC Limited has designated August 18, 2026, as the record date for the redemption of its Commercial Paper series CP-164 (ISIN: INE733E14CG6). The instrument is scheduled to mature and be paid on August 19, 2026. This intimation was issued by AGM (Finance) Nihar Ranjan Nayak on August 12, 2026, in compliance with SEBI regulations.
NTPC Limited published a notice on August 7, 2026, in the Financial Express, The Indian Express, and Jansatta regarding a special window for the transfer and dematerialization of physical securities. This action was taken pursuant to SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/I/3750/2026 dated January 30, 2026.
NTPC Limited is publishing a notice regarding its 50th Annual General Meeting, scheduled for August 27, 2026, at 10:30 a.m. IST, to be held via Video Conference/Other Audio Visual Means. This notice is in compliance with Section 108 of the Companies Act, 2013, and Rule 20 of the Companies (Management and Administration) Rules, 2014.
NTPC Limited has submitted its Business Responsibility and Sustainability Report for the Financial Year 2025-26, as required by SEBI regulations. The report details the company's performance and commitments across environmental, social, and governance (ESG) principles, including climate change mitigation, water management, occupational health and safety, and business integrity. It also outlines specific targets for renewable energy capacity, energy intensity reduction, and water consumption, alongside performance data for FY 2025-26.
NTPC Limited will hold its 50th Annual General Meeting on August 27, 2026, via Video Conferencing. The Integrated Annual Report for the Financial Year 2025-26 and the AGM notice are available on the company's website. Remote e-voting will be open from August 24 to August 26, 2026, for shareholders of record as of August 21, 2026.
NTPC held its 22nd Annual Analysts & Institutional Investors Meet on July 27, 2026, releasing the transcript on August 2, 2026. The meeting covered NTPC's performance in FY26, including a capex of INR 49,000+ crores, and discussed future plans for capacity addition, renewable energy expansion, nuclear power projects, and green hydrogen initiatives. The company also highlighted its financial performance, with a group profit after tax of INR 27,546 crores in FY26, and its commitment to dividend distribution, proposing a final dividend of INR 3.50 per share.
NTPC LIMITED (NSE: NTPC, Scrip Code: 532555, ISIN: INE733E01010) has disclosed transcripts of its earnings call held on July 27, 2026. The company uploaded these transcripts to its website on August 2, 2026, at 15:00:00. Prior intimation of this call was provided to the exchange on July 22, 2026.
NTPC LIMITED reports the cessation of Ram Bhajan Malik, Executive Director (Senior Management), due to superannuation or retirement, effective July 31, 2026.
Shri Ram Bhajan Malik has ceased to be Executive Director (Senior Management) of NTPC Limited effective July 31, 2026, due to superannuation.
NTPC Ltd. confirmed on July 31, 2026, that the interest payment for its SRS 71 bonds with ISIN INE733E08155 was made on the due date. The total issue size was ₹1,000 Crore, and the interest amount paid was ₹62,90,00,000/-. The interest payment frequency is yearly, and the record date was July 16, 2026.
NTPC Green Energy Limited (NGEL), a subsidiary of NTPC, declared the Commercial Operation Date (COD) for a 50 MW solar capacity, part of a 150 MW solar component within a 100 MW RE Round The Clock (RTC) project in Rajasthan. This capacity, developed by an NGEL group company, became operational on July 31, 2026, at 00:00 hrs. Following this, the total installed capacity of the NTPC group reached 91,080 MW, with a commercial capacity of 90,000 MW.
NTPC Ltd. has requested the delisting of its Bonds Series 40 STRPP J (ISIN INE733E07GD8) from the National Stock Exchange of India's Debt Market Segment. The bonds, which matured on July 29, 2026, have had their redemption payments made to the beneficial owners. The exchange has been asked to take necessary action for delisting and provide confirmation.
NTPC Ltd. confirmed on July 29, 2026, that it made the interest payment of ₹2,48,770/- and the full redemption payment of ₹5,00,00,000/- for bonds with ISIN INE733E07GD8 on the due date of July 29, 2026. The redemption was due to maturity, and the interest payment was made on the same day as the redemption.
NTPC Limited has published a notice regarding its 50th Annual General Meeting (AGM) scheduled for August 27, 2026, to be held via video conferencing. This notice was published in the Financial Express, The Indian Express, and Jansatta on July 28, 2026, in compliance with SEBI regulations and an MCA circular.
The Ministry of Power, Government of India, has extended the re-employment tenure of Shri Gurdeep Singh as Chairman & Managing Director of NTPC Limited for an additional six months, effective August 1, 2026. This extension is on a contract basis, starting after his current tenure ends on July 31, 2026, and will continue until a regular incumbent assumes the role or further orders are issued, whichever occurs first.
NTPC Limited submitted an Investor Presentation on July 27, 2026, for the 22nd Annual Analysts and Institutional Investors Meet. The presentation details India's economic outlook, NTPC's operational performance, energy transition strategies, financial results including a group profit of approximately \u20b927,546 crore in FY26 and group capex of \u20b955,986 crore in FY26, and future growth plans focusing on renewables and nuclear energy.
NTPC LIMITED has disclosed an audio recording of a call held on July 27, 2026. The call concluded at 17:45:00. The audio recording was uploaded to the company's website on July 27, 2026, at 18:45:00 and is available via a provided weblink. Prior intimation of the earnings call was disclosed to the exchange on July 22, 2026.
NTPC Limited will hold its 50th Annual General Meeting on August 27, 2026, via video conferencing. The company has set September 2, 2026, as the record date to determine shareholder eligibility for a final dividend of Rs. 3.50 per share for the financial year 2025-26. If approved at the AGM, the dividend payment will be made on or after September 23, 2026.
Recent market and company developments associated with NTPC.
A global energy event in New Delhi next month aims to unlock significant investment. The three-day Bharat Electricity, POWERGEN India & Indian Utility Week 2026 will attract professionals. Over 15,000 professionals and 250 exhibitors will explore smart grids and renewable energy solutions. This event is expected to advance a Rs 450 billion investment and partnership pipeline. International delegations will also explore manufacturing and market-entry opportunities.
The company is attempting to bring together a hydrogen fuel cell, battery, power electronics, control and diagnostic systems, cooling and safety architecture inside an existing locomotive
Five workers are injured in an explosion at an NTPC plant in Odisha, with emergency teams responding as authorities investigate the cause of the industrial accident.
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Muted open follows Thursday’s rebound, when the Nifty gained 154 points and the Sensex rose 628 points, snapping a seven-session losing streak
Axis Direct is optimistic about NTPC, Skipper, and JSW Energy following their June-quarter results. They believe strong capacity additions and order books will support earnings growth, maintaining 'Buy' ratings and target prices of ₹420, ₹605, and ₹630, respectively.
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Draft rules lay the groundwork for private participation, while power companies are already scouting sites for nuclear projects. For investors, however, the bigger question is how soon the opportunity can translate into earnings.
Bernstein has removed Avenue Supermarts from its India portfolio following its recent outperformance and rising risks to urban growth from quick commerce, something that the management also cited as a structural issue in its latest analyst meet.
Elara Capital's Harendra Kumar expects the Nifty to rise 17-20% over the next 18 months as the rupee stabilises and earnings improve. He favours mid-caps, autos, power and fintech platforms like Nykaa and PB Fintech over private banks, citing a structural shift in profit pools across India's financial sector.
SPML Infra shares rose over 2% after Arihant Capital initiated a Buy rating with a target price of ₹366, expecting revenue growth supported by a strong order book of ₹5,369 crore and improved financials, marking a significant turnaround for the infrastructure company.
India Inc's Q1 performance shows strong revenue growth, defying initial gloom, despite challenges from rising input costs.
The Supreme Court fined Reliance Industries ten lakh rupees for delaying a suit. NTPC filed the natural gas supply contract case against Reliance back in 2005. The court noted Reliance's continuous obstruction of the legal proceedings for two decades. This action came after the Bombay High Court's decision regarding witness affidavits. The apex court expressed strong disapproval of the prolonged litigation and its impact.
Mitsubishi is nearing an exit from NTPC's Farakka power project. The Japanese firm will compensate NTPC with ₹851 crore for the project. This agreement follows earlier compensation demands and offers between the two companies. Significant work remains incomplete on the flue gas desulphurisation equipment installation. The project was initially estimated at ₹1,000 crore when awarded six years ago.
SPML Infra shares rose 2.3% to ₹191 after a strong June quarter, marked by a 74% revenue growth to ₹286 crore and an 87% increase in net profit. The company holds a robust order book of ₹35,094 crore, focusing on sustainable growth through FY27.
For NTPC's Hydrogen-Powered Locomotive Pilot Project (Railway)
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Geojit Financial Services NTPC, buy, Recommendations
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India's Solar Energy Corporation (SECI) is on a mission to boost the production of green ammonia, targeting a significant reduction in the country's dependence on imported fertilizers. The corporation is set to issue tenders for an impressive additional one million metric tons each year, aligning with India's comprehensive green hydrogen ambitions. Furthermore, SECI is also gearing up to invite tenders for green methanol to promote domestic usages.
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Comprehensive Section Breakdown for NTPC
Strategic Vision: Indian power utility transitioning to integrated energy conglomerate.
Category: Manufacturing
The primary business segment, owning and operating coal-fired and gas-fired power stations supplying bulk electricity to state utilities.
Category: B2B Services
The dedicated green energy platform managing utility-scale solar parks, wind energy farms, and green hydrogen pilot facilities.
Category: B2B Services
The power trading subsidiary focused on bilateral energy trading, e-mobility infrastructure, and carbon credit trading.
Core Thesis: NTPC integrates its baseload thermal generation with a dedicated green energy transition framework to support national grid stability.
• Thermal Cash Generation & Green Reinvestment: The parent company's coal-fired thermal plants produce stable operational cash flows, which are redirected to fund renewable energy transition expenditures. • Subsidiary-Led Renewable Buildout (NGEL): NTPC Green Energy Limited (NGEL) serves as the consolidated vehicle for all solar, wind, green hydrogen, and green ammonia projects. • Round-the-Clock (RTC) Power Bundling (NVVN): NVVN integrates intermittent solar and wind output with stable, coal-fired baseload power to offer reliable 'Round-the-Clock' (RTC) power contracts. • Flexible Thermal Operations: NTPC is re-engineering its thermal fleet to accommodate fluctuating renewable energy inputs by allowing coal plants to ramp generation up and down.
• Operates captive coal mining blocks for direct fuel supply.
• Central public sector undertaking under the Ministry of Power.