NTPC

₹333.3 -4.4 | 1.3%

WEBSITE BSE:532555 NSE : NTPC LTD 20 Dec, 16:02

Market Cap ₹323141 Cr.

Stock P/E 15.1

P/B 2.1

Current Price ₹333.3

Book Value ₹ 160.9

Face Value 10

52W High ₹448.3

Dividend Yield 2.33%

52W Low ₹ 293.3

Edit Ratio

NTPC Research see more...

Equity Research: NTPC

Overview Inc. Year: 1975Industry: Power Generation/Distribution

NTPC Limited is an primarily India-based organisation, which is engaged in the technology and sale of electricity. The predominant business activity of the Company is electric power generation with the aid of a totally coal-based thermal energy plant. The Company's commercial enterprise segments consist of Generation and Others. The Company's Other commercial enterprise includes presenting consultancy, assignment control and supervision, re-gasification, oil and gas exploration and coal mining. The Company's subsidiaries are NTPC Electric Supply Company Ltd., NTPC Vidyut Vyapar Nigam Ltd., Kanti Bijlee Utpadan Nigam Ltd., Nabinagar Power Generating Company Ltd., Bhartiya Rail Bijlee Company Ltd., ., North Eastern Electric Power Corporation Ltd.,Patratu Vidyut Utpadan Nigam Ltd THDC India Limited, NTPC Mining Ltd., NTPC EDMC Waste Solutions Private Ltd., NTPC Renewable Energy Ltd. And Ratnagiri Gas and Power Private Ltd.

NTPC Share Price

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Peer Comparison

NTPC Quarterly Results

#(Fig in Cr.)	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	20417	19879	19699	20774	23100
Other Income	470	663	262	313	518
Total Income	20887	20542	19960	21088	23618
Total Expenditure	14954	14839	14259	15497	17190
Operating Profit	5933	5703	5702	5590	6428
Interest	898	896	919	1065	1104
Depreciation	1606	1570	1713	1881	1935
Exceptional Income / Expenses	-783	0	0	0	0
Profit Before Tax	2646	3237	3070	2644	3389
Provision for Tax	566	619	631	283	463
Profit After Tax	2079	2618	2439	2361	2926
Adjustments	-2079	-2618	-2439	-2361	-2926
Profit After Adjustments	0	0	0	0	0
Adjusted Earnings Per Share	2.1	2.6	2.5	2.4	3

NTPC Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	72019	73237	70115	77574	82571	89403	96762	98060	119895	162339	160430	83452
Other Income	2832	2682	1262	1610	5076	1985	7653	6735	4322	4011	6235	1756
Total Income	74851	75919	71377	79184	87647	91388	104415	104795	124217	166350	166665	85208
Total Expenditure	54258	57582	52262	56465	60952	70586	69699	69453	83078	119473	118374	61785
Operating Profit	20593	18336	19114	22719	26695	20802	34717	35341	41138	46878	48291	23423
Interest	2546	2878	3346	3699	3996	4717	6799	7872	8340	10265	10503	3984
Depreciation	4142	4912	5172	5921	7099	7254	8623	10412	12058	13137	13943	7099
Exceptional Income / Expenses	0	0	0	-783	0	0	0	-1363	0	0	835	0
Profit Before Tax	13905	10547	10596	12316	15600	8831	19295	15695	20740	23476	24679	12340
Provision for Tax	2930	256	-174	2931	5257	-2919	9182	1925	4458	6279	6600	1996
Profit After Tax	10975	10291	10770	9385	10343	11750	10113	13770	16282	17197	18079	10344
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-10344
Profit After Adjustments	10975	10291	10770	9385	10343	11750	10113	13770	16282	17197	18079	0
Adjusted Earnings Per Share	11.1	10.4	10.9	9.5	10.5	11.9	10.2	14.2	16.8	17.7	18.6	10.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-1%	18%	12%	8%
Operating Profit CAGR	3%	11%	18%	9%
PAT CAGR	5%	9%	9%	5%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	12%	40%	24%	11%
ROE Average	13%	13%	12%	12%
ROCE Average	11%	10%	10%	9%

NTPC Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	85815	81657	91294	96231	101778	107408	113569	118985	128668	138890	149885
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	62406	78532	85097	97339	108698	119698	146539	150509	160122	156316	146159
Other Non-Current Liabilities	12768	13305	16077	10864	22831	19738	25640	26801	24876	28606	32918
Total Current Liabilities	25280	30520	32054	39297	42555	55354	54704	58050	69446	76243	78584
Total Liabilities	186269	204014	224522	243732	275862	302199	340452	354345	383112	400054	407547
Fixed Assets	72111	78849	91773	99356	119759	125621	156811	164449	195571	196896	211751
Other Non-Current Assets	74288	87802	102993	112816	110990	131038	126013	131210	120004	121138	109912
Total Current Assets	39870	37363	29756	31560	45113	45540	57628	58687	67519	81900	85766
Total Assets	186269	204014	224522	243732	275862	302199	340452	354345	383112	400054	407547

NTPC Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	16868	15311	281	1372	157	60	24	20	177	117	3
Cash Flow from Operating Activities	15732	14235	23987	20014	19250	16157	21584	27058	37898	42351	34831
Cash Flow from Investing Activities	-13980	-14563	-18346	-24414	-20390	-20894	-27247	-17342	-18080	-14101	-15118
Cash Flow from Financing Activities	-3309	-1878	-4550	3185	1043	4701	5659	-9646	-19877	-28365	-19519
Net Cash Inflow / Outflow	-1557	-2206	1092	-1215	-97	-36	-4	70	-59	-114	194
Closing Cash & Cash Equivalent	15311	13105	1372	157	60	24	20	90	117	3	197

NTPC Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	11.09	10.4	10.88	9.49	10.45	11.88	10.22	14.2	16.79	17.73	18.64
CEPS(Rs)	15.28	15.36	16.11	15.47	17.63	19.21	18.94	24.94	29.23	31.28	33.02
DPS(Rs)	4.79	2.08	2.79	3.98	4.27	6.08	3.15	6.15	7	7.25	7.75
Book NAV/Share(Rs)	86.73	82.53	92.27	97.26	102.86	108.55	114.78	122.71	132.69	143.23	154.57
Core EBITDA Margin(%)	24.45	21.18	25.2	26.97	25.91	20.84	27.7	28.83	30.38	26.18	25.96
EBIT Margin(%)	22.65	18.16	19.68	20.46	23.48	15	26.71	23.76	24	20.6	21.72
Pre Tax Margin(%)	19.14	14.27	14.96	15.73	18.69	9.78	19.75	15.82	17.12	14.33	15.24
PAT Margin (%)	15.11	13.92	15.2	11.99	12.39	13.01	10.35	13.88	13.44	10.5	11.16
Cash Profit Margin (%)	20.81	20.57	22.5	19.55	20.9	21.04	19.18	24.37	23.39	18.52	19.77
ROA(%)	6.15	5.27	5.03	4.01	3.98	4.07	3.15	3.96	4.42	4.39	4.48
ROE(%)	13.21	12.29	12.45	10.01	10.45	11.23	9.15	11.84	13.15	12.85	12.52
ROCE(%)	11.29	8.37	7.92	8.27	9.19	5.72	9.84	8.22	9.59	10.56	10.65
Receivable days	26.59	31.67	39.51	37	34.37	32.36	44.92	70.99	71.88	56.58	60.14
Inventory Days	23.69	31.67	37.26	31.51	27.47	28.38	34.97	36.63	28.42	26.04	34.98
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	9.01	11.81	9.86	14.58	13.53	11.4	8.24	7.5	8.04	9.88	18.02
Price/Book(x)	1.15	1.49	1.16	1.42	1.37	1.25	0.73	0.87	1.02	1.22	2.17
Dividend Yield(%)	4.79	1.7	2.6	2.88	3.02	4.49	3.74	5.78	5.19	4.14	2.31
EV/Net Sales(x)	2.09	2.66	2.78	3.1	3.12	3.07	2.56	2.8	2.61	2.17	3.16
EV/Core EBITDA(x)	7.32	10.61	10.19	10.6	9.65	13.2	7.14	7.77	7.61	7.52	10.49
Net Sales Growth(%)	9.56	1.69	-4.26	10.64	6.44	8.27	8.23	1.34	22.27	35.4	-1.18
EBIT Growth(%)	-12.78	-18.4	3.85	14.87	22.36	-30.87	92.6	-9.68	23.4	16.03	4.27
PAT Growth(%)	-13.03	-6.23	4.65	-12.85	10.21	13.6	-13.93	36.16	18.25	5.62	5.13
EPS Growth(%)	-13.03	-6.23	4.65	-12.85	10.21	13.6	-13.93	38.94	18.25	5.62	5.13
Debt/Equity(x)	0.78	1.05	1.02	1.11	1.19	1.33	1.47	1.46	1.44	1.34	1.24
Current Ratio(x)	1.58	1.22	0.93	0.8	1.06	0.82	1.05	1.01	0.97	1.07	1.09
Quick Ratio(x)	1.36	1	0.72	0.64	0.92	0.68	0.86	0.85	0.83	0.9	0.87
Interest Cover(x)	6.46	4.66	4.17	4.33	4.9	2.87	3.84	2.99	3.49	3.29	3.35
Total Debt/Mcap(x)	0.68	0.71	0.88	0.78	0.87	1.07	2	1.68	1.41	1.1	0.57

NTPC Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1	51.1
FII	14	14.95	15.65	15.58	15.77	16.67	17.03	17.84	17.67	18.58
DII	31.5	31.42	30.63	30.62	30.33	29.14	28.82	27.68	27.67	26.64
Public	3.4	2.53	2.62	2.7	2.8	3.08	3.05	3.38	3.55	3.68
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53	495.53
FII	135.78	144.97	151.73	151.08	152.95	161.63	165.09	173.02	171.37	180.2
DII	305.42	304.65	297.02	296.88	294.06	282.61	279.5	268.39	268.3	258.27
Public	32.93	24.51	25.38	26.17	27.12	29.89	29.54	32.73	34.47	35.66
Others	0	0	0	0	0	0	0	0	0	0
Total	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67	969.67

Pros

Company has reduced debt.

Cons

Company has a low return on equity of 13% over the last 3 years.
The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.