NTPC Ltd.
NSE: NTPCNTPC Ltd.: A 30-second snapshot
NTPC, India's largest thermal power generator, trades at ₹365.8 with a trailing PE of 12.02 — the lowest in its Power-sector peer group — and yields 3.1% in dividends. The stock is up 12.01% over 12 months and sits above its 200-DMA (₹353.47), though it remains 5.2% below the 50-DMA (₹384.83). FY26 standalone PAT grew 18% and Q4 results beat estimates, while a 30 GW nuclear expansion plan marks a significant long-term capacity pivot.
P/E
12.0
Forward P/E
12.9
ROE
+13.7%
Debt / Equity
118.13
Profit Margin
+14.4%
Div. Yield
+3.1%
5Y ROE > 15%
0/5
5Y FCF > 0
4/5
Quality
51/100
News
8 headlines · 6 positive · 0 negative
NTPC Limited Just Beat EPS By 15%: Here's What Analysts Think Will Happen Next - simplywall.st
simplywall.st
NTPC begins site studies in four states for 30 GW nuclear energy plan - BusinessLine
BusinessLine
NTPC Limited Reports Strong FY26 Financial Performance; Standalone PAT Rises 18%, Group PAT Grows 15% - SolarQuarter
SolarQuarter
NTPC Q4 Results: Profit rises 15%, beats estimates despite revenue decline - CNBC TV18
CNBC TV18
NTPC Declares Final Dividend Of Rs 3.5 Per Share; Logs 38% Surge In Net Profit - NDTV Profit
NDTV Profit
Recent context
- ·FY26 standalone PAT rose 18% year-on-year with Q4 profit beating analyst estimates by 15%; the company declared a final dividend of ₹3.5 per share alongside these results.
- ·NTPC has begun site studies across four states for a 30 GW nuclear energy plan, representing a significant expansion of its long-term capacity strategy beyond thermal and renewable generation.
- ·The stock closed at ₹365.8 with nearest technical support levels at ₹364.1 and ₹362.2, and resistance at ₹372 and ₹388.55; the 200-DMA at ₹353.47 has held as a floor over the recent period.
Strengths
- +Lowest PE in the Power-sector peer group at 12.02, compared with ADANIPOWER (34.9), TATAPOWER (34.4), ADANIENSOL (81.5), and ADANIGREEN (156.5), reflecting a substantial valuation discount to sector peers.
- +FY26 standalone PAT up 18% year-on-year and Q4 EPS beat estimates by 15%, with group PAT also growing 15% — the most recent earnings cycle shows acceleration relative to the 5-year trend.
- +FCF was positive in 4 of the years covered by persistence data, and a final dividend of ₹3.5 per share was declared alongside a 3.1% trailing yield, demonstrating consistent cash returns to shareholders.
- +Analyst mean rating of 1.37 across 28 analysts on a 1–5 scale (lower = more constructive), with 8 recent news articles skewing 6 positive and 0 negative, reflecting broadly constructive external coverage.
Weaknesses
- −5-year earnings CAGR of -1.6% against 5-year revenue CAGR of 8% indicates margin compression over the medium term; profit margin of 14.44% and ROE of 13.69% — which has not crossed 15% in any year of available data — point to capital efficiency below peer medians.
- −Debt-to-equity of 118.1 is on a rising trend, driven by renewable and nuclear capacity investment; higher leverage increases sensitivity to interest-rate movements and refinancing conditions at the group level.
- −Quality score of 19 places NTPC last among Power-sector peers with valid scores (ADANIPOWER 41, POWERGRID 37, ADANIGREEN 28, ADANIENSOL 23), reflecting the combined effect of lower ROE, margin compression, and rising debt.
- −Price is 5.2% below the 50-DMA (₹384.83) with a 3-month change of -2.21% and a 52-week drawdown of -11.73%, indicating near-term underperformance relative to the longer-term trend.
Open questions
- ?Does NTPC's valuation discount to peers (PE 12.02 vs sector range of 34–156) reflect a structurally lower growth profile, or does it represent a gap that the recent earnings acceleration could begin to close?
- ?How does the rising D/E trajectory — already at 118.1 and climbing as the 30 GW nuclear and renewable buildout progresses — interact with NTPC's regulated return framework and its ability to service debt from guaranteed tariff cash flows?
- ?Is the 5-year earnings CAGR of -1.6% a structural constraint from regulated tariff caps and input cost pressures, or a transitional phase as the capex cycle transitions from coal to renewable and nuclear assets?
- ?What proportion of NTPC's capacity additions over the next 3–5 years is expected to be funded through equity versus debt, and how does that affect the current leverage trajectory and return on equity?
Peer comparison: Power
Ranks 5 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| NTPC | NTPC Ltd.You're viewing | 12.0 | +13.7% | 19 |
| Industry avg | across 5 peers | 64.4 | +13.2% | 26 |
| ADANIPOWER | Adani Power Ltd. | 34.9 | +20.9% | 41 |
| POWERGRID | Power Grid Corporation of India Ltd. | 14.5 | +16.5% | 37 |
| ADANIGREEN | Adani Green Energy Ltd. | 156.5 | +7.6% | 28 |
| ADANIENSOL | Adani Energy Solutions Ltd. | 81.5 | +9.7% | 23 |
| TATAPOWER | Tata Power Co. Ltd. | 34.4 | +11.3% | 0 |
Technical state
Current price
₹365.80
SMA 50
₹384.83
SMA 200
₹353.47
RSI (14)
45.9 (neutral)
From 52w high
-11.7%
1Y return
+12.0%
3M return
-2.2%
50-DMA
Below
200-DMA
Above
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- medium5-year earnings CAGR of -1.6% against 5-year revenue CAGR of 8% points to sustained margin erosion; profit margin stands at 14.44% and ROE of 13.69% has not crossed 15% in any year of available persistence data, indicating low capital efficiency relative to the scale of growth being funded.
- mediumDebt-to-equity of 118.1 is on a rising trend as NTPC funds large-scale renewable capacity additions; rising debt in a rising-rate environment increases sensitivity to refinancing costs and leverage at group level through NTPC Green Energy.
- mediumQuality score of 19 places NTPC lowest among the five Power-sector peers with valid scores: ADANIPOWER (41), POWERGRID (37), ADANIGREEN (28), ADANIENSOL (23). ROE of 13.69% ranks 3rd of 6 peers, behind ADANIPOWER (20.91%) and POWERGRID (16.49%).
- lowPrice is 5.2% below the 50-DMA (₹384.83) and has declined 2.21% over the past 3 months; 52-week drawdown stands at -11.73%. RSI of 45.87 is neutral, neither signalling oversold support nor positive momentum.
- low1-year price-change data is unavailable for all five listed Power-sector peers, preventing direct relative-return comparison within the peer group.
Cross-section contradictions
- FY26 standalone PAT rose 18% and Q4 profit beat estimates by 15%, yet 5-year earnings CAGR is -1.6% — recent earnings acceleration has not yet reversed a multi-year declining earnings trend.
- News sentiment over the period is positive (6 positive, 2 neutral, 0 negative) and the stock is up 12.01% over 12 months, yet the price is 5.2% below the 50-DMA and has given back 2.21% over the past 3 months — short-term price action has diverged from the longer-term uptrend and positive news flow.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 21 Jun 2026 · rotates through NIFTY 500 every ~5 days