Loading…
Renewable-energy subsidiary of state-owned NTPC, developing solar and wind power plants across India.
Renewable-energy subsidiary of state-owned NTPC, developing solar and wind power plants across India.
Sells power under fixed-tariff contracts, typically 25 years, to state utilities and to the state-run intermediary SECI (Solar Energy Corporation of India), which resells it, so revenue follows installed capacity and plant output rather than market prices. NTPC, India's largest power generator, holds the controlling stake and listed this unit in 2024.
In one line: A state-backed US renewable IPP.
Moat: narrow (state ownership, scale, regulatory licence). Backed by parent NTPC's balance sheet and land/grid access, giving lower funding cost than private renewable developers.
Headquarters: New Delhi, India · Founded: 2022 · Employees: 3,681
Size NTPC Green Energy (NTPCGREEN.NS) is an India Utilities company (Alternative Power Generation) with a market value of $7.37B, the 157th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹82.63 on 6 Nov 2026.
Performance Over six months the shares fell 24.4%, against -11.0% for the median peer and 0.0% for the India market (cap-weighted) — 4th lowest of 17 in its peer set.
Growth Revenue grew 49.2% over the last twelve months (peer median +4.9%); the operating margin is 50.1% (peer median 24.8%).
Valuation It trades at 59.8× forward earnings against a peer median of 19.4× (3rd most expensive of 16).
Capital Return on invested capital runs 8.1 points below its cost of capital (10.5% WACC).
Next results Next results expected around 25 Jan 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹36.1B | ₹28.6B | ₹22.1B | ₹19.6B | ₹1.65B |
| Revenue growth | — | +29% | +13% | +1,092% | — |
| Gross profit | ₹18.1B | ₹14.9B | ₹12.3B | ₹11.5B | ₹1.03B |
| EBITDA | ₹31.6B | ₹24.9B | ₹19.2B | ₹17.5B | ₹1.47B |
| Net income | ₹6.57B | ₹5.23B | ₹4.75B | ₹3.43B | ₹1.71B |
| Free cash flow | n/a | -₹142B | -₹111B | -₹85.7B | -₹7.83B |
| Capital expenditure | n/a | ₹153B | ₹120B | ₹95.5B | ₹169B |
| Total debt | ₹377B | ₹317B | ₹194B | ₹139B | ₹61.4B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| NTPC Green Energy NTPCGREEN.NS | $7.37B | -24% | +49% | 50% | 59.8× | n/a |
| Adani Green Energy ADANIGREEN.NS | $24.7B | +4% | +21% | 61% | 87.9× | n/a |
| Tata Power TATAPOWER.NS | $11.9B | -20% | -4% | 13% | 25.0× | n/a |
| ReNew Energy Global RNW | $2.53B | +23% | +11% | 42% | 26.4× | n/a |
| ACME Solar ACMESOLAR.NS | $2.95B | +32% | +54% | 66% | 29.6× | n/a |
| JSW Energy JSWENERGY.NS | $10.1B | -9% | +26% | 36% | 39.7× | n/a |
| NHPC NHPC.NS | $8.72B | +1% | +12% | 30% | 19.4× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NTPCGREEN.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.6% | +1.7% | 3rd lowest of 18 |
| 6-month return | -24.4% | -11.0% | 4th lowest of 17 |
| Distance from 52-week high | -31.1% | -24.7% | 7th lowest of 18 |
| Revenue growth (TTM) | +49.2% | +4.9% | highest of 18 |
| Operating margin | 50.1% | 24.8% | 4th highest of 18 |
| Forward P/E | 59.8× | 19.4× | 3rd most expensive of 16 |
| ROIC minus cost of capital | -8.1 pp | -1.3 pp | 3rd lowest of 18 |
| EV / EBITDA | 33.7× | 11.5× | most expensive of 11 |
| Net debt / EBITDA | 11.6× | 6.1× | most indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| NTPC Green Energy NTPCGREEN.NS | India | $7.37B | -24% | +49% | 50% | 59.8× | n/a | n/a |
| Clearway Energy CWEN | United States | $7.00B | -11% | +8% | 13% | 56.4× | 33.1% | +2.4% |
| Corporacion Acciona Energias Renovables ANE.MC | Spain | $8.06B | -7% | -14% | 18% | 21.1× | n/a | n/a |
| Enlight Renewable Energy ENLT | United States | $9.57B | -25% | +29% | 51% | n/a | n/a | n/a |
| Hubei Energy 000883.SZ | China | $4.58B | -11% | -5% | 15% | 17.6× | -0.4% | +0.6% |
| Fujian Funeng 600483.SS | China | $4.53B | +9% | -1% | 22% | 10.7× | -4.9% | +7.5% |
| China Longyuan Power 0916.HK | Hong Kong | $13.8B | -17% | -6% | 27% | 11.5× | 0.6% | +0.2% |
| ERG ERG.MI | Italy | $3.77B | -3% | +5% | 28% | 19.4× | 10.0% | -2.8% |
| China Three Gorges Renewables (Group) 600905.SS | China | $14.7B | -16% | -8% | 17% | 39.8× | n/a | n/a |
| Talen Energy TLN | United States | $14.7B | -12% | +20% | 20% | 13.0× | 21.1% | -10.0% |
| Fervo Energy FRVO | United States | $2.66B | n/a | -31% | -35,367% | n/a | n/a | n/a |
| CECEP Solar Energy 000591.SZ | China | $2.65B | -9% | -13% | 28% | 17.4× | 0.4% | -1.5% |
| ReNew Energy Global RNW | United States | $2.53B | +23% | +11% | 42% | 26.4× | n/a | n/a |
| Solaria Energia y Medio Ambiente SLR.MC | Spain | $2.40B | -33% | +26% | 92% | 11.2× | n/a | n/a |
| Huadian New Energy 600930.SS | China | $24.5B | -35% | +32% | 27% | 27.1× | n/a | n/a |
| Adani Green Energy ADANIGREEN.NS | India | $24.7B | +4% | +21% | 61% | 87.9× | n/a | n/a |
| Brookfield Infrastructure Partners L.P BIP | United States | $25.6B | +7% | +16% | 25% | 71.0× | n/a | n/a |
| Aker Solutions AKSO.OL | Norway | $1.89B | -17% | -9% | 5% | 5.8× | -14.7% | +16.9% |