# NTPC (NTPC) — Stock analysis

> Faxioms all-in-one stock review. Canonical page: https://faxioms.com/stocks/ntpc

## Current market snapshot

- Exchange: BSE
- Country: India
- Price: ₹311
- Change: +0.32%
- As of: 2026-10-13
- 1D return: +0.32%
- 5D return: -3.25%
- 1M return: -6.72%
- Latest complete quarter: fy27_q1

## Faxioms Analysis

_As of 2026-10-13_

### Technical Outlook

As of October 13, 2026, NTPC is exhibiting a bearish technical setup across daily, weekly, and monthly timeframes, characterized by prices trading below key moving averages and the Supertrend indicator. Daily and monthly trends show strong conviction with ADX values above 43, while the weekly trend is established with an ADX of 28.61. Momentum appears to be deteriorating, as indicated by negative slopes in moving averages and recent negative returns, with the stock trading near the lower end of its 20-day, 50-day, and 252-day ranges. The stock's current setup is reinforced by an Inside Bar pattern on the daily chart, suggesting potential consolidation within the prevailing downtrend.

The risk profile includes an annualized volatility of +20.9% and a current drawdown of -24.2%, with a maximum drawdown of -24.5%. The nearest support is ₹310.0 (0.32% below current price), followed by ₹306.31 (1.51% below). Overhead resistance is observed at ₹314.3 (1.06% above current price) and ₹318.6 (2.44% above). A confirmed break below the ₹310.0 support level could signal further downside, while a sustained move above ₹314.3 resistance might indicate a potential shift in momentum.

- Bearish technical setup confirmed across daily, weekly, and monthly timeframes.
- Strong trend conviction on daily and monthly charts (ADX  43), with price below key averages and Supertrend.
- Annualized volatility at +20.9% and current drawdown of -24.2% indicate elevated risk.
- Nearest support at ₹310.0 (0.32% below) and resistance at ₹314.3 (1.06% above).
- A break below ₹310.0 support would confirm the bearish setup, while a move above ₹314.3 resistance could signal a change.

- Inside Bar
- Harami
- Shooting Star
- Bearish Engulfing Reversal
- Evening Star

### News Context

NTPC is actively exploring international markets for its green energy initiatives. The company is reportedly in discussions with potential buyers in Japan, South Korea, and Germany for green ammonia. Additionally, NTPC is in talks with South Africa’s Eskom regarding a potential green energy pact, which could include a joint venture. Domestically, NTPC has invited expressions of interest from commercial and industrial entities for a 26% equity stake in its co-generation projects. Meanwhile, Coal India Ltd. has refuted claims of a coal supply crunch to NTPC, stating that it has met and exceeded contractual supply commitments, reporting a 5% year-on-year increase in supply to NTPC and its joint ventures during April-September FY27.

- October 13, 2026: NTPC is in discussions with buyers in Japan, South Korea, and Germany for green ammonia.
- October 13, 2026: NTPC is in talks with South Africa’s Eskom for a potential green energy pact, including a joint venture.
- October 12, 2026: Coal India Ltd. stated it supplied 97 million tonnes to NTPC and its joint ventures from April-September FY27, a 5% increase year-on-year, refuting claims of a supply crunch.
- October 11, 2026: NTPC invited expressions of interest for a 26% equity stake in co-generation projects from commercial and industrial entities.

- [NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- [Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- [Coal India denies NTPC supply crunch, cites exceeding commitments](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)
- [NTPC in talks with South Africa’s Eskom for a green energy pact | Mint](https://www.livemint.com/industry/energy/ntpc-eskom-renewable-energy-joint-venture-in-south-africa-11791543333845.html)
- [NTPC invites industrial partners for 26 per cent equity in co-generation projects](https://news.webindia123.com/news/Articles/Business/20261011/4509544.html)

### What Changed

NTPC is reportedly in discussions with potential buyers in Japan, South Korea, and Germany concerning green ammonia. This development aligns with India's National Green Hydrogen Mission and the company's focus on green hydrogen and methanol. Separately, Coal India Ltd. has stated that it has met and exceeded its contractual supply commitments to NTPC for the period of April-September FY27, supplying 97 million tonnes, which represents a 5% year-on-year increase. This refutes claims of critically low coal stocks at NTPC. The company's performance in the second quarter of FY27 is also a point of market watch.

- October 13, 2026: NTPC is in discussions with buyers in Japan, South Korea, and Germany for green ammonia.
- October 12, 2026: Coal India Ltd. reported supplying 97 million tonnes of coal to NTPC and its joint ventures from April-September FY27, a 5% year-on-year increase, refuting claims of a supply crunch.
- October 13, 2026: NTPC's performance in Q2 FY27 is noted as a market watch item.

- [NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- [Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- [Coal India denies NTPC supply crunch, cites exceeding commitments](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)

### Official Filings

NTPC Limited has reported the commercial operation of a 66.18 MW capacity at its Kalasar Solar Energy Project in Bikaner, Rajasthan. This capacity is part of the larger 650 MW solar component under the 500 MW REMCL RTC Project of NTPC Renewable Energy Limited. The company also confirmed the full redemption of a Commercial Paper (CP) series for ₹3,000 crore on its maturity date of October 5, 2026. Additionally, NTPC has announced October 23, 2026, as the record date for its Series 64 bonds, with interest payment scheduled for November 7, 2026. A routine compliance notice regarding the utilization of Commercial Paper proceeds for working capital requirements during the quarter ended September 30, 2026, was also filed. Separately, Shri Piyush Singh ceased to be a Non-Executive Director of the company effective October 5, 2026.

- Commercial operation declared for 66.18 MW of the Kalasar Solar Energy Project in Rajasthan as of October 10, 2026.
- ₹3,000 crore Commercial Paper redeemed on October 5, 2026.
- Record date for Series 64 bonds set as October 23, 2026, with interest payment on November 7, 2026.
- Shri Piyush Singh ceased as Non-Executive Director effective October 5, 2026.

- [NTPC Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NTPC_12102026143942_20261012_NEWSPAPER_STEX.pdf)
- [NTPC Limited has informed the Exchange about declaration of Commercial Operation of fourth part capacity of 66.18 MW of Kalasar Solar Energy Project, Bikaner, Rajasthan, out of 650 MW of Solar component under 500 MW REMCL RTC Project of NTPC Renewable Energy Limited |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NTPC_10102026193410_20261010_STEX_NGELCOMM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026174929_Qtr-02_FY-26-27-CP-Quarterly_Certificate_to_NSE.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026175603_CP_Maturity_Letter.pdf)
- [Record Date Updates |SUBJECT: Record Date Updates](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_08102026155139_RDINT64NSEBSE.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_05102026171623_56_Payment_Letter.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_05102026173428_CP_Maturity_Letter.pdf)
- [NTPC Limited has informed the Exchange regarding Cessation of Shri Piyush Singh as Non- Executive Director of the company w.e.f. October 05, 2026. |SUBJECT: Cessation](https://nsearchives.nseindia.com/corporate/NTPC_05102026203959_20261005_Cessation_of_Director.pdf)

### Fundamentals

NTPC reported sequential growth in revenue from operations, rising to ₹50,740.96 crore in Q1 FY2026-27 from ₹49,687.77 crore in Q4 FY2025-26. This top-line increase was accompanied by a rise in profit before tax (PBT) to ₹8,011.40 crore from ₹7,172.68 crore in the prior quarter. However, expenses saw a slight decrease to ₹43,130.11 crore from ₹43,237.90 crore, while finance costs also declined sequentially from ₹3,736.82 crore to ₹3,386.04 crore. Despite the increase in overall PBT, segment profit before tax experienced a sequential decrease, falling to ₹8,596.32 crore from ₹9,720.06 crore, indicating pressure within core operating segments. The company's cash flow from operations shows a positive trend, increasing from ₹40,099.0 in Mar 2024 to ₹50,488.0 in Mar 2025, and ₹50,902.0 in Mar 2026, suggesting a healthy generation of cash from its core business activities. Borrowings have steadily increased from ₹237,131 in Mar 2024 to ₹271,005 in Mar 2026, while equity capital remained constant at ₹9,697 over the same period. The most important checkpoint for the next reporting period will be the sustainability of operating profit margins and the trend in segment profit before tax.

- Revenue from operations increased sequentially to ₹50,740.96 crore in Q1 FY2026-27.
- Profit before tax rose sequentially to ₹8,011.40 crore, but segment profit before tax declined to ₹8,596.32 crore.
- Cash from operating activities has shown consistent growth, reaching ₹50,902.0 in Mar 2026.
- Monitor segment profit before tax and operating profit margins for the next reporting period.

### Bull Case

NTPC is exploring international partnerships for green energy initiatives. The company is in discussions with Eskom of South Africa regarding a potential green energy pact, which could include a joint venture. Additionally, NTPC is engaging with potential buyers in Japan, South Korea, and Germany for its green ammonia products, signaling efforts to expand its low-carbon fuel exports. The company has also invited industrial partners to invest 26% equity in its co-generation projects.

- NTPC is in talks with South Africa's Eskom for a potential green energy pact and joint venture.
- Discussions are ongoing with buyers in Japan, South Korea, and Germany for green ammonia exports.
- NTPC is seeking industrial partners for a 26% equity stake in co-generation projects.

- [NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- [Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- [Coal India denies NTPC supply crunch, cites exceeding commitments](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)
- [NTPC in talks with South Africa’s Eskom for a green energy pact | Mint](https://www.livemint.com/industry/energy/ntpc-eskom-renewable-energy-joint-venture-in-south-africa-11791543333845.html)
- [NTPC invites industrial partners for 26 per cent equity in co-generation projects](https://news.webindia123.com/news/Articles/Business/20261011/4509544.html)
- [NTPC Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NTPC_12102026143942_20261012_NEWSPAPER_STEX.pdf)
- [NTPC Limited has informed the Exchange about declaration of Commercial Operation of fourth part capacity of 66.18 MW of Kalasar Solar Energy Project, Bikaner, Rajasthan, out of 650 MW of Solar component under 500 MW REMCL RTC Project of NTPC Renewable Energy Limited |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NTPC_10102026193410_20261010_STEX_NGELCOMM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026174929_Qtr-02_FY-26-27-CP-Quarterly_Certificate_to_NSE.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026175603_CP_Maturity_Letter.pdf)
- [Record Date Updates |SUBJECT: Record Date Updates](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_08102026155139_RDINT64NSEBSE.pdf)

### Bear Case

NTPC's technical indicators suggest a bearish trend across daily, weekly, and monthly timeframes, as indicated by the supertrend direction and negative slopes in moving averages. The stock has experienced significant negative returns over various periods, including a -19.5% return over the last six months and a -9.0% return over the past year. Current risk metrics show an annualized volatility of +20.9% and a maximum drawdown of -24.5%. While the company is exploring green ammonia exports and potential partnerships, such as with South Africa's Eskom, and inviting equity partners for co-generation projects, these initiatives are in discussion or invitation stages. A recent report from Coal India Ltd. denied claims by NTPC regarding critically low coal stocks, stating they have met and exceeded contractual supply commitments, supplying 97 million tonnes to NTPC and its joint ventures during April-September of FY27.

- Daily, weekly, and monthly technical trends are currently indicated as bearish.
- The stock has experienced a -19.5% return over the last six months and a -9.0% return over the past year.
- Annualized volatility stands at +20.9% with a maximum drawdown of -24.5%.
- Coal India Ltd. has stated it met and exceeded contractual coal supply commitments to NTPC for April-September FY27.

- [NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- [Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- [Coal India denies NTPC supply crunch, cites exceeding commitments](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)
- [NTPC in talks with South Africa’s Eskom for a green energy pact | Mint](https://www.livemint.com/industry/energy/ntpc-eskom-renewable-energy-joint-venture-in-south-africa-11791543333845.html)
- [NTPC invites industrial partners for 26 per cent equity in co-generation projects](https://news.webindia123.com/news/Articles/Business/20261011/4509544.html)
- [NTPC Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NTPC_12102026143942_20261012_NEWSPAPER_STEX.pdf)
- [NTPC Limited has informed the Exchange about declaration of Commercial Operation of fourth part capacity of 66.18 MW of Kalasar Solar Energy Project, Bikaner, Rajasthan, out of 650 MW of Solar component under 500 MW REMCL RTC Project of NTPC Renewable Energy Limited |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NTPC_10102026193410_20261010_STEX_NGELCOMM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026174929_Qtr-02_FY-26-27-CP-Quarterly_Certificate_to_NSE.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026175603_CP_Maturity_Letter.pdf)
- [Record Date Updates |SUBJECT: Record Date Updates](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_08102026155139_RDINT64NSEBSE.pdf)

### FAQs

**What is NTPC's current technical trend and what are the nearest support and resistance levels?**

As of October 13, 2026, NTPC's daily and weekly technical trends are indicated as 'bearish'. The nearest support level is at ₹310.0, which is 0.32% below the current price, followed by ₹306.31. The nearest resistance level is at ₹314.3, which is 1.06% above the current price, followed by ₹318.6.

**What recent developments indicate NTPC's expansion into green energy?**

NTPC is actively pursuing green energy initiatives. The company is in discussions with buyers in Japan, South Korea, and Germany for green ammonia. Additionally, NTPC is in talks with South Africa's Eskom for a potential green energy pact, including a joint venture. NTPC has also announced the declaration of commercial operation for a 66.18 MW solar energy project in Bikaner, Rajasthan, as part of its renewable energy arm's larger project.

**What is NTPC's recent performance in terms of returns and volatility?**

As of October 13, 2026, NTPC has experienced negative returns across various periods, including -6.7% in the last month, -19.5% in the last six months, and -9.0% in the last year. The year-to-date return is -7.5%. The company's annualized volatility is +20.9%, with a current drawdown of -24.2% and a maximum drawdown of -24.5%.

**What is the status of NTPC's coal supply from Coal India Ltd?**

Coal India Ltd (CIL) has stated that it has met and exceeded its contractual supply commitments to NTPC. CIL reported supplying 97 million tonnes to NTPC and its joint ventures during April-September of FY27, which represents a 5% increase year-on-year. This statement refutes claims by NTPC regarding critically low coal stocks.

- [NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- [Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- [Coal India denies NTPC supply crunch, cites exceeding commitments](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)
- [NTPC in talks with South Africa’s Eskom for a green energy pact | Mint](https://www.livemint.com/industry/energy/ntpc-eskom-renewable-energy-joint-venture-in-south-africa-11791543333845.html)
- [NTPC invites industrial partners for 26 per cent equity in co-generation projects](https://news.webindia123.com/news/Articles/Business/20261011/4509544.html)
- [NTPC Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NTPC_12102026143942_20261012_NEWSPAPER_STEX.pdf)
- [NTPC Limited has informed the Exchange about declaration of Commercial Operation of fourth part capacity of 66.18 MW of Kalasar Solar Energy Project, Bikaner, Rajasthan, out of 650 MW of Solar component under 500 MW REMCL RTC Project of NTPC Renewable Energy Limited |SUBJECT: General Updates](https://nsearchives.nseindia.com/corporate/NTPC_10102026193410_20261010_STEX_NGELCOMM.pdf)
- [Statement of utilization of issue proceeds |SUBJECT: Statement of utilization of issue proceeds](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026174929_Qtr-02_FY-26-27-CP-Quarterly_Certificate_to_NSE.pdf)
- [Confirmation of Redemption/Payment of Interest and Principal |SUBJECT: Confirmation of Redemption/Payment of Interest and Principal](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026175603_CP_Maturity_Letter.pdf)
- [Record Date Updates |SUBJECT: Record Date Updates](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_08102026155139_RDINT64NSEBSE.pdf)
## Technical analytics

- As of: 2026-10-13
- Daily trend: Strong Downtrend
- Weekly trend: Moderate Downtrend
- Pivot point: ₹310
- Risk regime: Price Risk Requires Attention

### Support levels
- 306.3125
- 294.82500000000005
- 305.7

### Resistance levels
- 323.87161979675295
- 343.70455703735354
- 369.740625

### Return and range metrics

| Metric | Value |
| --- | --- |
| return_1 | +0.32% |
| return_10 | -3.15% |
| return_1m | -6.72% |
| return_1y | -8.98% |
| return_20 | -6.72% |
| return_3m | -11.58% |
| return_5 | -3.25% |
| return_6m | -19.48% |
| return_since_start | -6.79% |
| return_ytd | -7.52% |

### Risk and volatility metrics

| Metric | Value |
| --- | --- |
| state | elevated_risk |
| label | Price risk requires attention |
| summary | Recent drawdown or price variability is high enough to warrant closer monitoring. |
| maximum_drawdown | -24.50% |
| annualized_volatility | +20.94% |

## Quarterly financials

- Latest complete quarter: fy27_q1

# Revenue Growth and Flat Expenses Drive Sharp Profit Increase

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 Trends

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.

## Profitability: Flat Expenses Lead to Margin Expansion

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:

- **Cost of materials consumed**: ₹25,394.77 crore, representing 58.9% of total expenses.
- **Finance costs**: ₹3,386.04 crore, down 2.35% year-on-year and 9.39% lower sequentially.
- **Employee benefit expense**: ₹1,713.10 crore.
- **Depreciation and amortisation**: ₹5,233.70 crore.

The combination of revenue growth, lower finance costs, and overall expenses that were nearly flat produced the sharp rise in pre-tax profit.

## Segment vs. Entity Profitability

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, Net Profit, and Comprehensive Income

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.

## Balance Sheet

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.

## Key Takeaway

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.

### Ratios

## Shareholding pattern

- Quarter: FY2027-Q1
- As of: 2026-06-30
- Promoter holding: +51.10%
- FII holding: +16.30%
- DII holding: +29.44%
- Mutual fund holding: +17.40%
- Retail holding: +2.32%
- Promoter pledged: +0.00%

### Major reported shareholders

- President of India — +51.10%
- LIFE INSURANCE CORPORATION OF INDIA - P & GS Fund — +5.91%
- ISIF HYBRID LONG - SHORT FUND — +4.04%
- NIPPON LIFE INDIA TRUSTEE LTD-A/C-NIPPON INDIA NIFTY 50 VALUE 20 INDEX FUND — +3.09%
- NPS TRUST-A/C TATA PENSION FUND MANAGEMENT PRIVATE LIMITED SCHEME E - TIER II — +2.87%
- SBI PSU FUND — +2.10%
- GOVERNMENT OF SINGAPORE - E — +1.98%
- HDFC VALUE FUND — +1.78%
- KOTAK SENSEX ETF — +1.36%

## Official filings

- 2026-10-12 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_12102026143942_20261012_NEWSPAPER_STEX.pdf)
- 2026-10-10 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_10102026193410_20261010_STEX_NGELCOMM.pdf)
- 2026-10-09 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026174929_Qtr-02_FY-26-27-CP-Quarterly_Certificate_to_NSE.pdf)
- 2026-10-09 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_09102026175603_CP_Maturity_Letter.pdf)
- 2026-10-08 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_08102026155139_RDINT64NSEBSE.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_05102026171623_56_Payment_Letter.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_05102026171623_56_Payment_Letter.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_05102026171623_56_Payment_Letter.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_05102026173428_CP_Maturity_Letter.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_05102026203959_20261005_Cessation_of_Director.pdf)
- 2026-10-05 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2249_WebXMLFile_20261005_205457105.xml)
- 2026-10-01 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/akshatjain_01102026104119_NTPCisinDisclosure30092026.zip)
- 2026-10-01 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_01102026152404_20261001_STEX_NGELCOMMISSIONING.pdf)
- 2026-09-30 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_30092026130754_20260930_STEX_NGELCOMMISSIONING.pdf)
- 2026-09-30 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_30092026133444_30092026_Cessation_of_EDs.pdf)
- 2026-09-28 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_28092026173734_RDILetterOct26.pdf)
- 2026-09-28 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_28092026173734_RDILetterOct26.pdf)
- 2026-09-28 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Praveen_28092026173734_RDILetterOct26.pdf)
- 2026-09-23 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/content/debt/WDM/Abhishek_23092026171112_CP_Maturity_Letter.pdf)
- 2026-09-22 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_22092026130554_22092026_STEX_NGELCOMISS.pdf)
- 2026-09-22 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_22092026131211_22092026_Intimation_of_ESG_rating_by_CRISIL.pdf)
- 2026-09-22 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_22092026171003_22092026_STEX_Closure_of_Trading_Window.pdf)
- 2026-09-22 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CLOSURE_TRADING_WINDOW_2249_WebXMLFile_20260922_172202313.xml)
- 2026-09-19 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/NTPC_19092026124119_20260919_STEX_NGELCOMMISSI.pdf)
- 2026-09-19 — Generic Announcement: NTPC Limited — [Official attachment](https://nsearchives.nseindia.com/corporate/xbrl/CIM_2249_WebXMLFile_20260919_143403050.xml)

## News and market events

- 2026-10-13 — MONEYCONTROL: **NTPC in talks with buyers in Japan, South Korea and Germany for green ammonia** — NTPC, NTPC green ammonia, NTPC green hydrogen hub, green ammonia exports, Andhra Pradesh hydrogen hub, Gurdeep Singh, India green hydrogen, green methanol, National Green Hydrogen Mission, low-carbon fuels — [Source](https://www.moneycontrol.com/news/business/ntpc-in-talks-with-buyers-in-japan-south-korea-and-germany-for-green-ammonia-14050861.html)
- 2026-10-13 — BUSINESSTODAY: **Suzlon, IEX, Tata Power, NTPC, Power Grid, CESC, ACME: What to watch in Q2** — Suzlon share, Tata Power share, NTPC share price, IEX share price, CESC share price, ACME solar share price — [Source](https://www.businesstoday.in/markets/stocks/story/suzlon-iex-tata-power-ntpc-power-grid-cesc-acme-what-to-watch-in-q2-561191-2026-10-13)
- 2026-10-12 — REDIFF.COM: **Coal India denies NTPC supply crunch, cites exceeding commitments** — Coal India Ltd (CIL) has refuted claims by NTPC Ltd regarding critically low coal stocks, stating it has met and exceeded its contractual supply commitments to the power producer. CIL reported supplying 97 million tonnes to NTPC and its joint ventures during April-September of FY27, a 5% increase year-on-year. — [Source](https://www.rediff.com/business/report/coal-india-refutes-ntpcs-coal-shortage-claims-highlights-increased-supply/20261012.htm)
- 2026-10-12 — Mint: **NTPC in talks with South Africa’s Eskom for a green energy pact | Mint** — Talks are underway on the modalities of a possible partnership, including a joint venture, between the two companies. — [Source](https://www.livemint.com/industry/energy/ntpc-eskom-renewable-energy-joint-venture-in-south-africa-11791543333845.html)
- 2026-10-11 — NEWS.WEBINDIA123.COM: **NTPC invites industrial partners for 26 per cent equity in co-generation projects** — NTPC Limited invited Expressions of Interest from commercial and industrial entities willing to invest 26 per cent equity in co-generation projects, according to the state-run power company. — [Source](https://news.webindia123.com/news/Articles/Business/20261011/4509544.html)
- 2026-10-11 — DECCANCHRONICLE.COM: **NTPC Invites EoI From Entities to Invest 26 Pc Equity in Co-Generation Projects** — The proposed initiative seeks to address the diverse requirements of industries with reliable, economical and sustainable energy solutions through long-term power supply arrangements — [Source](https://www.deccanchronicle.com/lifestyle/environment/ntpc-invites-eoi-from-commercial-industrial-entities-to-invest-26-pc-equity-in-co-generation-projects-1994874)
- 2026-10-11 — Economic Times: **NTPC invites industrial partners for 26% equity in co-generation projects** — NTPC Limited invited Expressions of Interest from commercial and industrial entities willing to invest 26 per cent equity in co-generation projects, according to the state-run power company. — [Source](https://economictimes.indiatimes.com/markets/stocks/news/ntpc-invites-industrial-partners-for-26-equity-in-co-generation-projects/articleshow/134866656.cms)
- 2026-10-09 — The Hindu: **Coal stocks critically low as power demand rises in India** — Coal stocks dwindle as India faces rising power demand amid heat, El Niño-driven shortages, and debate over supply security. — [Source](https://www.thehindu.com/data/coal-stocks-critically-low-as-power-demand-rises-in-india/article71559564.ece)
- 2026-10-08 — The Hindu: **Power crisis in Keralam: KSEB gets nod for procuring 177 MW from NTPC Ltd for three-year period** — KSEB gains approval to procure 177 MW from NTPC (Barh I and II) for three years amid Kerala’s power shortages. — [Source](https://www.thehindu.com/news/national/kerala/power-crisis-in-keralam-kseb-gets-nod-for-procuring-177-mw-from-ntpc-ltd-for-three-year-period/article71559528.ece)
- 2026-10-08 — Times of India: **NTPC identifies 3 locations for nuclear power projects** — NEW DELHI: Public sector NTPC has identified three locations, one each in Madhya Pradesh, Bihar and Odisha, to set up nuclear power plants as it aims to — [Source](https://timesofindia.indiatimes.com/india/ntpc-identifies-3-locations-for-nuclear-power-projects/articleshow/134778436.cms)
- 2026-10-08 — Mint: **India's battery energy storage push hits a viability wall | Mint** — Data from the India Energy Storage Alliance (IESA), an industry body of battery makers, shows a total of 24 gigawatt hour BESS projects were cancelled or re-tendered during 2018-2026, highlighting the challenges in transitioning to green power. — [Source](https://www.livemint.com/industry/energy/india-battery-energy-storage-systems-bess-for-wind-solar-power-11791365673898.html)
- 2026-10-07 — The Hindu: **Keralam to join hands with NTPC to set up 2,000-MW battery energy storage system at Kayamkulam** — Kerala to partner with NTPC on a 2,000 MWh BESS at Kayamkulam, seeking a dedicated plant and timely energy security measures. — [Source](https://www.thehindu.com/news/national/kerala/keralam-to-join-hands-with-ntpc-to-set-up-2000-mw-battery-energy-storage-system-at-kayamkulam/article71554410.ece)
- 2026-10-06 — Economic Times: **NTPC may buy 10 million tonnes of coal from commercial mines** — This would be the second year when the company has procured from commercial mines. In FY25, it had procured around 4 mt. India's largest power generator is expected a coal requirement of around 300 mt in FY27, up 11% from FY26. Most of the company's supply comes from fuel supply agreements with state-run miners. — [Source](https://economictimes.indiatimes.com/industry/indl-goods/svs/metals-mining/ntpc-may-buy-10-million-tonnes-of-coal-from-commercial-mines/articleshow/134749565.cms)
- 2026-10-06 — MONEYCONTROL: **NTPC turns to commercial mines as coal crisis grips power plants** — NTPC Ltd, CIL, Coal India, coal, power demand, electricity, mining, mines, commercial, captive — [Source](https://www.moneycontrol.com/news/business/ntpc-turns-to-commercial-mines-as-coal-crisis-grips-power-plants-14045988.html)
- 2026-10-01 — Mint: **Power stocks fall despite  ₹1.86 lakh crore PM-DHARA scheme: Tata Power, Adani Power, NTPC, Power Grid in focus** — In Thursday's trading, key power stocks fell as the government revealed a ₹1.86 lakh crore scheme to boost transmission and renewable energy. The PM-DHARA initiative aims to enhance infrastructure for accommodating 135 GW of renewable energy, despite current stock market pressure. — [Source](https://www.livemint.com/market/stock-market-news/power-stocks-fall-despite-rs-1-86-lakh-crore-pm-dhara-scheme-tata-power-adani-power-ntpc-power-grid-in-focus-11790827242854.html)
- 2026-09-30 — The Hindu: **The India-EFTA partnership, one plus one equals three** — The Trade and Economic Partnership Agreement between India and the four European Free Trade Association states is a year old but is showing what an ambitions and rules-based partnership can deliver — [Source](https://www.thehindu.com/opinion/lead/the-india-efta-partnership-one-plus-one-equals-three/article71529585.ece)
- 2026-09-30 — Mint: **Up 410% in 5 yrs, why MOFSL sees another 52% upside in Time Technoplast- check target price, rationale behind buy rating** — Time Technoplast's stock is in focus as Motilal Oswal retains its Buy rating with a target price of ₹280, suggesting over 52% upside. The brokerage highlights strong performance despite challenges and identifies growth opportunities including a merger and advancements in automation. — [Source](https://www.livemint.com/market/stock-market-news/up-410-in-5-yrs-why-mofsl-sees-another-52-upside-in-time-technoplast-check-target-price-rationale-behind-buy-rating-11790765050994.html)
- 2026-09-30 — The Hindu: **Coal Gasification Push Marks a Defining Moment for India’s Energy Self-Reliance: Dr Roger Kumar, CASE Group** — Coal Gasification Push Marks a Defining Moment for India's Energy Self-Reliance: Dr Roger Kumar, CASE Group — [Source](https://www.thehindu.com/brandhub/pr-release/coal-gasification-push-marks-a-defining-moment-for-indias-energy-self-reliance-dr-roger-kumar-case-group/article71523374.ece)
- 2026-09-29 — Mint: **Crude oil shock and higher yields: Why Indian stock markets may remain volatile in near term - where should you invest?** — With Indian equities under pressure from high crude prices and rising bond yields, experts recommend a cautious investment approach. Focus on accumulating high-quality stocks while monitoring key factors. Tailored strategies emphasize technical analysis and sector strength amidst ongoing volatility. — [Source](https://www.livemint.com/market/stock-market-news/crude-oil-shock-and-higher-yields-why-indian-stock-markets-may-remain-volatile-in-near-term-where-should-you-invest-11790665625517.html)
- 2026-09-28 — The Hindu: **Renewable energy meets 55% of annual generation projection** — Renewables meet 55% of projected annual generation, with April-August output at 253.57 billion units, signaling growing grid impact and CSP's complementary role. — [Source](https://www.thehindubusinessline.com/specials/clean-tech/renewable-energy-meets-55-of-annual-generation-projection/article71517051.ece)
- 2026-09-26 — The Hindu: **NTPC, EDF sign pact to develop RE projects in India** — NTPC and EDF Power Solutions India form a 50:50 JV to develop, own, and operate pumped storage, hydro, and other renewables in India and nearby regions. — [Source](https://www.thehindu.com/business/Industry/ntpc-edf-sign-pact-to-develop-re-projects-in-india/article71513975.ece)
- 2026-09-26 — Economic Times: **NTPC, EDF sign pact to develop renewable energy projects in India** — NTPC and EDF Power Solutions India have established a joint venture to develop renewable energy projects. This partnership aims to focus on pumped storage and hydropower projects within India and its neighboring countries. The joint venture will operate with a 50:50 equity share between NTPC and EDF. Both companies intend to leverage their expertise for innovative and sustainable energy solutions. — [Source](https://economictimes.indiatimes.com/industry/renewables/ntpc-edf-sign-pact-to-develop-renewable-energy-projects-in-india/articleshow/134501014.cms)
- 2026-09-26 — The Hindu: **NTPC, EDF form JV firm as India & France explore deepening engagement in clean energy** — NTPC-EDF form 50:50 JV to develop clean energy projects, pumped storage, hydro, renewables, and distribution in India and neighboring countries. — [Source](https://www.thehindubusinessline.com/companies/ntpc-edf-form-jv-firm-as-india-france-explore-deepening-engagement-in-clean-energy/article71512284.ece)
- 2026-09-26 — Mint: **NTPC, EDF Power form joint venture to develop low-carbon energy projects | Details here | Company Business News** — According to a release, the agreement focuses on the development, ownership, and operation of pumped storage assets, hydroelectric installations, other renewable energy facilities, and electricity distribution operations. — [Source](https://www.livemint.com/companies/news/ntpc-edf-power-form-joint-venture-to-develop-low-carbon-energy-projects-details-here-11790407305935.html)
- 2026-09-26 — FREEPRESSJOURNAL.IN: **NTPC And EDF Join Forces On Low-Carbon Energy, New Venture Sets Sights On Cleaner Power Projects** — NTPC and EDF have signed a 50:50 venture pact to develop pumped storage, hydropower and other low-carbon energy projects in India and neighbouring countries. — [Source](https://www.freepressjournal.in/business/ntpc-and-edf-join-forces-on-low-carbon-energy-new-venture-sets-sights-on-cleaner-power-projects)

## Business profile

**Strategic vision:** Indian power utility transitioning to integrated energy conglomerate.

### Business segments
- **Thermal Power Generation:** The primary business segment, owning and operating coal-fired and gas-fired power stations supplying bulk electricity to state utilities.
- **NTPC Green Energy Limited (NGEL):** The dedicated green energy platform managing utility-scale solar parks, wind energy farms, and green hydrogen pilot facilities.
- **NTPC Vidyut Vyapar Nigam Limited (NVVN):** The power trading subsidiary focused on bilateral energy trading, e-mobility infrastructure, and carbon credit trading.

### Competitive strengths
- Operates captive coal mining blocks for direct fuel supply.
- Central public sector undertaking under the Ministry of Power.

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## Freshness and sources

- Data as of: 2026-10-13
- Source: Faxioms public stock analysis API

Canonical: https://faxioms.com/stocks/ntpc
Markdown representation: https://faxioms.com/stocks/ntpc?render=md