NTPC Green Energy Limited (IN:NTPCGREEN)
:NTPCGREEN
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NTPC Green Energy Limited
(NTPCGREEN)
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Rating:52Neutral
Price Target:
₹105.00
▲(9.64% Upside)
Action:N/A
Date:05/28/26
The score is primarily held back by persistently large negative free cash flow and rising leverage despite strong growth, alongside an extremely high P/E that signals elevated valuation risk. Technicals add a modest near-term headwind as momentum is weak with the stock below key short-term averages.
Positive Factors
Revenue growth and higher net income
Exceptional FY2026 revenue growth and higher net income reflect a rapid scale-up of renewable capacity and stronger contracted off-take. Durable PPAs and expanding generation scale should sustain topline growth and improve long-term cash generation as plants stabilize and utilization normalizes.
Negative Factors
Deeply negative free cash flow
Persistently large negative free cash flow reflects heavy capex during the build-out phase and creates an ongoing structural funding requirement. Reliance on external financing raises refinancing and liquidity risk, constraining financial flexibility and the company’s ability to self-fund future projects or buffer shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and higher net income
Exceptional FY2026 revenue growth and higher net income reflect a rapid scale-up of renewable capacity and stronger contracted off-take. Durable PPAs and expanding generation scale should sustain topline growth and improve long-term cash generation as plants stabilize and utilization normalizes.
Read all positive factors
NTPC Green Energy Limited (NTPCGREEN) vs. iShares MSCI India ETF (INDA)
Market Cap
₹840.11B
Dividend YieldN/A
Average Volume (3M)353.03K
Price to Earnings (P/E)163.6
Beta (1Y)1.09
Revenue Growth30.48%
EPS Growth5.05%
CountryIN
Employees229
SectorEnergy
Sector Strength52
IndustryRenewable Utilities
Share Statistics
EPS (TTM)0.10
Shares Outstanding8,426,330,000
10 Day Avg. Volume258,536
30 Day Avg. Volume353,031
Financial Highlights & Ratios
PEG Ratio-21.27
Price to Book (P/B)4.37
Price to Sales (P/S)29.02
P/FCF Ratio-6.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Sell
Number of Analyst Covering1
EPS Forecast (FY)1.72
Revenue Forecast (FY)₹66.37B
NTPC Green Energy Limited Business Overview & Revenue Model
Company Description
NTPC Green Energy Limited, an Indian firm, specializes in generating power from renewable sources. Its substantial portfolio encompasses 17,277 megawatts of both solar and wind energy installations. Beyond clean energy production, the company also...
How the Company Makes Money
NTPCGREEN primarily makes money by generating electricity from its renewable energy plants and selling that power to customers under long-term power purchase arrangements (PPAs) or similar contracted offtake structures; revenue is typically realiz...
NTPC Green Energy Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
60
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2025 | Mar 2025 |
|---|---|---|---|
Income Statement | |||
| Total Revenue | 11.59B | 28.58B | 22.10B |
| Gross Profit | 8.15B | 28.58B | 12.34B |
| EBITDA | 12.64B | 26.72B | 21.71B |
| Net Income | 3.21B | 5.23B | 4.75B |
Balance Sheet | |||
| Total Assets | 484.14B | 603.82B | 454.21B |
| Cash, Cash Equivalents and Short-Term Investments | 2.80B | 7.57B | 748.70M |
| Total Debt | 218.26B | 317.16B | 194.41B |
| Total Liabilities | 295.73B | 411.93B | 268.89B |
| Stockholders Equity | 187.48B | 189.65B | 184.40B |
Cash Flow | |||
| Free Cash Flow | -123.63B | -128.80B | -110.69B |
| Operating Cash Flow | 19.92B | 23.86B | 9.16B |
| Investing Cash Flow | -149.25B | -121.17B | -177.93B |
| Financing Cash Flow | 116.90B | 97.96B | 157.15B |
NTPC Green Energy Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
63 Neutral | ₹77.05B | 15.91 | ― | 0.20% | 55.34% | 45.62% | |
57 Neutral | ₹2.46T | 153.73 | ― | ― | 14.13% | 10.67% | |
55 Neutral | ₹213.06B | 42.76 | ― | ― | 44.00% | 97.66% | |
52 Neutral | ₹840.11B | 163.58 | ― | ― | 30.48% | 5.05% | |
49 Neutral | ₹284.12B | 44.29 | ― | 1.94% | 47.40% | -21.63% | |
47 Neutral | ₹738.31B | 17.12 | ― | 2.44% | 11.90% | 24.47% |
* Energy Sector Average
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NTPC Green Energy Limited Corporate Events
NTPC Green Energy Adds 87.5 MW of Rajasthan Solar to Commercial Operations
Apr 17, 2026
NTPC Green Energy Limited has announced that 87.50 MW of a 150 MW solar power project in Rajasthan, developed by Project Eleven Renewable Power Private Limited, a step-down subsidiary of its joint venture ONGC NTPC Green Private Limited, has been ...
NTPC Green Energy Partially Commissions 300 MW Rajasthan Solar Project
Apr 16, 2026
NTPC Green Energy Limited announced that 150 MW of a 300 MW solar project located in Rajasthan, developed under Project Sixteen Renewable Power Private Limited, a step-down subsidiary of its joint venture ONGC NTPC Green Private Limited, has been ...
NTPC Declares No Encumbrance on NTPC Green Energy Shares for FY 2025-26
Apr 8, 2026
NTPC Limited has informed the stock exchanges that, for the financial year 2025-26, it and persons acting in concert have not created any encumbrance, direct or indirect, on the shares of its subsidiary NTPC Green Energy Limited. The disclosure, m...
NTPC Green Energy Crosses 10 GW Installed Capacity With New Khavda Solar Units
Mar 30, 2026
NTPC Green Energy Limited announced that NTPC Renewable Energy Limited has declared commercial operation of the twelfth and final 78.02 MW unit of its 1,255 MW Khavda-I Solar PV project in Gujarat from 31 March 2026. The company also reported that...
NTPC Green Energy Commissions Final 75 MW of 500 MW Bhadla Solar Project
Mar 28, 2026
NTPC Green Energy Limited has announced that the third and final 75 MW tranche of the 500 MW Bhadla Solar PV Project at Phalodi, Rajasthan, developed by its subsidiary NTPC Renewable Energy Limited, has achieved commercial operation effective 25 M...
NTPC Green Energy Adds 105 MW at Khavda-II, Nears 10 GW Capacity
Mar 28, 2026
NTPC Green Energy Limited has declared commercial operation of an additional 105 MW segment of the 1,200 MW Khavda-II Solar PV Project in Gujarat, developed through its wholly owned subsidiary NTPC Renewable Energy Limited, effective March 29, 202...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.