In Week of Mar 28, 2026, NTPC Ltd (Power - Generation/Distribution) is outperforming Nifty 500 with +27.5% relative strength. Fundamentals: Strong. On a 8-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 (ended December 31, 2025) earnings • Updated Feb 22, 2026
What: 6,615 MW added in FY26 to date with 8 GW planned for NGEL in FY27-28
Impact: +₹15000 Cr revenue
“NTPC Group added 1,744 MW in Q3 FY26 and 6,615 MW in FY26 to date. NGEL added 2,108 MW renewable capacity in FY26, reaching 8,010 MW. NGEL plans 8 GW capacity additions in FY27 and FY28.”
What: Higher plant utilization creating margin expansion opportunity
“The PLF of NTPC coal stations was 70.69% for the 9 months of FY26, compared to 60.79% for the rest of India”
What: Commissioning of India's first MWh-scale long-duration energy storage system
Impact: +₹500 Cr revenue
“NTPC also commissioned India's first MWh-scale long-duration energy storage system, a 3-MWh vanadium redox flow battery pilot project”
Earnings deceleration risks from management commentary
Trigger: Supply chain disruptions
Impact: -300 bps margin impact
Management view: Coal stock at NTPC stations was sufficient for about 18 days of generation
Monitor: Coal inventory days
Trigger: Unfavorable regulatory changes
Impact: -200 bps margin impact
Management view: CERC's draft regulation allowing battery energy storage systems at thermal generation stations, which is seen as a positive development
Monitor: Regulatory announcements
Key quotes from recent conference calls
“NTPC Group added 1,744 MW in Q3 FY26 and 6,615 MW in FY26 to date. Group PAT for 9M FY26 rose 5.45% to ₹16,931 crore. Standalone Q3 FY26 PAT was ₹4,987 crore, up 5.85%. NGEL added 2,108 MW renewable capacity in FY26, reaching 8,010 MW. NGEL plans 8 GW capacity additions in FY27 and FY28. — NTPC Management”
“The PLF of NTPC coal stations was 70.69% for the 9 months of FY26, compared to 60.79% for the rest of India — NTPC Management”
“Peak power demand touched 245 GW on January 9, 2026 — NTPC Management”
“NGEL plans 8 GW capacity additions in FY27 and FY28 — NTPC Management”
Forward-looking targets from management for FY27-FY28
Implied PAT Growth
15%
Capex Plan
₹80000 Cr
Key Milestones
• 8 GW renewable capacity addition by FY28
• Full ramp-up of new capacity additions
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +2% | +12% | Stable |
| PAT (Net Profit) | +8% | +12% | Stable |
| OPM | 32.0% | +200 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
NTPC Ltd's latest quarterly results (Dec 2025) show
NTPC Ltd's profit is growing with an stable trend.
NTPC Ltd's revenue growth trend is stable.
NTPC Ltd's operating margin is stable.
NTPC Ltd's long-term compounding rates
NTPC Ltd's earnings growth is stable with improving on a sequential basis.
NTPC Ltd's trailing twelve month (TTM) performance
NTPC Ltd appears significantly undervalued based on our fair value analysis.
NTPC Ltd's current PE ratio is 15.1x.
NTPC Ltd's current PE is 15.1x.
NTPC Ltd's price-to-book ratio is 1.9x.
NTPC Ltd is rated Strong with a fundamental score of 63.33/100. This score is calculated from objective financial metrics
NTPC Ltd has a debt-to-equity ratio of N/A.
NTPC Ltd's return ratios over recent years
NTPC Ltd's operating cash flow is positive (FY2025).
NTPC Ltd's current dividend yield is 2.22%.
NTPC Ltd's shareholding pattern (Dec 2025)
NTPC Ltd's promoter holding has remained stable recently.
NTPC Ltd has been outperforming Nifty 500 for 8 consecutive weeks, indicating consistent outperformance.
NTPC Ltd is an established outperformer with 8 weeks of consecutive Nifty 500 outperformance.
NTPC Ltd has 3 key growth catalysts identified from recent earnings analysis
NTPC Ltd has 2 key risks worth monitoring
In Q3 FY26 (ended December 31, 2025), NTPC Ltd's management highlighted
NTPC Ltd's management has provided the following forward guidance for FY27-FY28
Based on quantitative research signals, here is why NTPC Ltd may be worth studying
NTPC Ltd investment thesis summary:
NTPC Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
