NTPC Green Energy Ltd.
NSE: NTPCGREENNTPC Green Energy Ltd.: A 30-second snapshot
NTPC Green Energy (₹107.99) is a young renewable-power developer spun off from NTPC, trading above its 50-DMA (₹102.06) and 200-DMA (₹98.25) with a 21.4% price gain over 3 months and a modest 5.8% gain over 12 months. The company reported a 5-year revenue CAGR of 29.3% and a profit margin of 21.8%, but carries a debt-to-equity of 115.8, zero FCF-positive years, and a 5-year earnings CAGR of -75%, reflecting an early-stage capital-intensive build profile. At a trailing PE of 156.7 — the highest among its 6-peer Power-sector group — the valuation embeds substantial growth expectations that current earnings history does not yet corroborate.
P/E
156.7
Forward P/E
63.4
ROE
—
Debt / Equity
115.84
Profit Margin
+21.8%
Div. Yield
—
5Y ROE > 15%
0/5
5Y FCF > 0
0/5
Quality
41/100
News
4 headlines · 1 positive · 0 negative
Ntpc Green Energy Declares 12.5 MW (Cumulative 100 MW) Of Rajasthan Solar Project Operational From May 15, 2026 - TradingView
TradingView
NTPC Green Energy Q4 Results 2026 - Find NTPC Green Energy Q4 Earnings Result | NTPCGREEN Q4 results - Mint
Mint
NTPC Green, Jio Financial, CarTrade Tech, Ashok Leyland: Expert shares entry points, stop loss, targets - Business Today
Business Today
Adani Green Energy Limited Just Missed EPS By 15%: Here's What Analysts Think Will Happen Next - simplywall.st
simplywall.st
Recent context
- ·On May 14, 2026, NTPC Green declared 12.5 MW operational at its Rajasthan solar project, bringing cumulative capacity to 100 MW — a project-execution data point in the most recent quarter.
- ·Q4 2026 results coverage was flagged in the news flow (Mint, May 15, 2026), indicating results season is active; the company had 7 analysts on coverage with no consensus rating available in this run.
- ·The Business Today article (April 30, 2026) included NTPC Green alongside peers in a technical-levels discussion, reflecting active retail and analyst attention on the stock during this period.
Strengths
- +5-year revenue CAGR of 29.3% demonstrates rapid top-line scaling as renewable-energy capacity comes online across projects.
- +Profit margin of 21.8% indicates the operating model generates positive earnings, placing it above the capital-deployment phase of pure project developers.
- +Price trades above both the 50-DMA (₹102.06) and 200-DMA (₹98.25) with RSI at 51.1 (neutral), suggesting no immediate technical overextension.
- +Parent NTPC backing provides institutional credibility; Rajasthan solar project achieved 100 MW cumulative operational capacity as of May 15, 2026, a concrete capacity milestone.
Weaknesses
- −D/E of 115.8 with a rising debt trend and zero FCF-positive years represents an extreme leverage profile for a non-financial entity, leaving the balance sheet vulnerable to refinancing risk or interest-rate shifts.
- −5-year earnings CAGR of -75% and zero ROE-years-above-15% mean the company has not yet demonstrated a track record of converting revenue growth into shareholder returns.
- −Quality score of 31 ranks 5th out of 6 Power-sector peers, and consistency score of 35 underscores the fragility of earnings at this stage of the asset build cycle.
- −Trailing PE of 156.7 — the highest in the peer group versus sector peers at 19.6 to 142.3 — means the market has priced in a sharp forward improvement in earnings that forward PE of 63.4 partially discounts but does not eliminate.
Open questions
- ?How does the current D/E of 115.8 compare to the company's own project-financing plan disclosures, and at what capacity-utilisation level is the debt service expected to turn FCF neutral?
- ?Does the 29.3% revenue CAGR reflect genuine capacity additions or include one-time items, and is there evidence the growth rate is accelerating, stable, or decelerating as the project pipeline matures?
- ?Given that ADANIGREEN — the closest comparable pure-play renewable peer — trades at a PE of 142.3 with a ROE of 7.6% and a higher quality score of 28, what specific factors justify NTPCGREEN's premium to that comparable?
- ?The forward PE of 63.4 implies a material step-up in earnings; what are the key assumptions (capacity additions, tariff realisations, debt repayment schedule) that must materialise for that forward estimate to be realised?
Peer comparison: Power
Ranks 3 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| NTPCGREEN | NTPC Green Energy Ltd.You're viewing | 156.7 | — | 31 |
| Industry avg | across 5 peers | 57.4 | +13.7% | 32 |
| ADANIPOWER | Adani Power Ltd. | 33.4 | +20.9% | 41 |
| POWERGRID | Power Grid Corporation of India Ltd. | 19.6 | +16.5% | 39 |
| NTPC | NTPC Ltd. | 21.9 | — | 31 |
| ADANIGREEN | Adani Green Energy Ltd. | 142.3 | +7.6% | 28 |
| ADANIENSOL | Adani Energy Solutions Ltd. | 69.7 | +9.7% | 23 |
Technical state
Current price
₹107.99
SMA 50
₹102.06
SMA 200
₹98.25
RSI (14)
51.1 (neutral)
From 52w high
-10.0%
1Y return
+5.8%
3M return
+21.4%
50-DMA
Above
200-DMA
Above
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highDebt-to-equity of 115.8 is extreme for a non-financial entity with a rising debt trend; zero FCF-positive years and zero ROE-years-above-15% across available history indicate capital deployed has not yet produced sustainable returns.
- high5-year earnings growth of -75% against a trailing PE of 156.7 and forward PE of 63.4 represents a sharp divergence between current profitability trajectory and market pricing; quality score of 31 ranks 5th of 6 Power-sector peers.
- mediumProfit margin of 21.8% and 5-year revenue CAGR of 29.3% are positive, but consistency score of 35 and zero years of ROE above 15% suggest earnings quality remains fragile at this stage of the build-out.
- lowOnly 4 news items retrieved for this run; news sentiment is based on a sparse sample and may not reflect the full information environment.
Cross-section contradictions
- Price is up 21.4% over 3 months and trades above both the 50-DMA (₹102.06) and 200-DMA (₹98.25), while 5-year earnings growth is -75% and D/E stands at 115.8 — price momentum and fundamental deterioration are moving in opposite directions.
- Trailing PE of 156.7 is the highest among the 6 ranked Power-sector peers (next highest: ADANIGREEN at 142.3), yet the quality score of 31 ranks 5th of 6 — investors are paying the sector-highest multiple for below-median quality metrics.
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 17 May 2026 · rotates through NIFTY 500 every ~5 days