# NTPC Green Energy share price today (NTPC Green Energy Ltd, NSE: NTPCGREEN)

> NTPC Green Energy share price today: ₹82.37 at the NSE close on 3 November 2026, down 20.1% in a year. NTPC Green Energy (NSE: NTPCGREEN) is worth ₹69,442 crore, trades at a P/E of 106.0 and has closed between ₹81.21 and ₹111.96 over the past 52 weeks. > NTPC Green Energy Ltd's earnings have grown faster than its share price. Earnings per share grew +10.7% in a year while the price moved −20.1%. NTPCGREEN · Power - Generation/Distribution · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹82.37 (−20.1% in a year)
- P/E: 106.0× (lower than 99% of the last 1 year)
- Revenue (Sep 2026): ₹938 Cr (+53.3% on a year ago)
- Profit (Sep 2026): ₹138 Cr (+60.5% on a year ago)
- Operating margin: 88.0% (+2.0 points on a year ago)
- ROCE: 4%, FY26
- ROIC: 2.3%, against a 12.0% cost of capital: −9.7 points

The main question: yearly earnings per share moved +10.7% while the share price moved −20.1%. ## What is the NTPC Green Energy share price today? NTPC Green Energy Ltd's share price was ₹82.37 at the close on 3 November 2026. It has been falling for 15 weeks. That is 12.7% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹81 and ₹112, and at that close it sat 4% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 3 weeks running. Over the last 1 year the share price moved −34% while the NIFTY 500 moved −5%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 16 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at NTPC Green Energy this quarter? Two changes stood out: revenue up on a year earlier for 8 quarters in a row (every quarter we can compare) and indian funds and insurers (DIIs) raised their stake for 4 quarters in a row. 1. Revenue up on a year earlier for 8 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹938 crore, +53.3% on a year earlier. 2. Indian funds and insurers (DIIs) raised their stake for 4 quarters in a row From 4.6% to 5.3% of the company by the September 2026 quarter. ## What dividend does NTPC Green Energy pay? NTPC Green Energy has paid no dividend on the NSE since its first NSE close in our records (29 November 2024), the start of the period we checked. No. NTPC Green Energy Ltd paid out 0% of its profit as dividends in each of its last 4 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What are NTPC Green Energy's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), NTPC Green Energy reported revenue of ₹938 crore, up 53.3% from ₹612 crore a year earlier, and a profit of ₹138 crore, up 60.5% from ₹86.0 crore. ### NTPC Green Energy results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹938 crore | ₹612 crore | +53.3% |
| Profit | ₹138 crore | ₹86.0 crore | +60.5% |
| Earnings per share | ₹0.16 | ₹0.10 | +60.0% |
| Operating margin | 88.0% | 86.0% | +2.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the NTPC Green Energy share price history? NTPC Green Energy closed at ₹82.37 on 3 November 2026, down 20.1% from ₹103.14 a year earlier (31 October 2025). Its highest weekly close since November 2024 was ₹144.13 on 13 December 2024. ### NTPC Green Energy share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹81.21 | +1.4% |
| 1 month ago · 1 Oct 2026 | ₹91.09 | −9.6% |
| 6 months ago · 30 Apr 2026 | ₹109.85 | −25.0% |
| 1 year ago · 31 Oct 2025 | ₹103.14 | −20.1% |
| Earliest weekly close in our records · 29 Nov 2024 | ₹124.84 | −34.0% |
| Highest weekly close since November 2024 · 13 Dec 2024 | ₹144.13 | −42.9% |
| Lowest weekly close since November 2024, also the 52-week low · 23 Oct 2026 | ₹81.21 | +1.4% |
| 52-week high (weekly close) · 17 Apr 2026 | ₹111.96 | −26.4% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (108 weekly closes from 29 November 2024 to 3 November 2026.)

## What is the latest news on NTPC Green Energy? 3 Nov 2026: NTPC Green Energy closed at ₹82.37, up 1.4% on the week and down 9.6% on the month. Results for July to September 2026: Revenue up 53.3% and profit up 60.5% on a year earlier. ## What did NTPC Green Energy management say on the latest results call? NTPC Green Energy's management made 0 promises we could check against what it later reported. (Our read after the latest results, written 17 May 2026.)

## What is the future of NTPC Green Energy? What is changing in the business? What is changing at NTPC Green Energy, from the latest results and calls: capacity ramp, mechanical revenue unlock, deleveraging as commissioned asset base scales and green hydrogen / new technology optionality. - Capacity Ramp, Mechanical Revenue Unlock. 6 GW added in FY26 (beat 5 GW goal); NGEL at 10 GW operational. FY27 goal 8 GW, 82% PPA-tied, revenue ramp is mechanical once commissioned. ⚠ estimate
- Deleveraging as Commissioned Asset Base Scales. Once commissioned capacity stabilizes (no new CWIP coming online), interest and depreciation costs stop rising while revenue continues to scale, operating leverage kicks in. ⚠ estimate
- Green Hydrogen / New Technology Optionality. Won SECI bid for 70,000 MT/year green ammonia; maiden 80 MW/320 MWh BESS in Kerala, early-stage optionality, not in base case for 24 months. ⚠ estimate
- India Policy Tailwind, 500 GW Non-Fossil Goal. India's 500 GW non-fossil goal by 2030 creates structural demand for NGEL's capacity; NTPC group's PSU status provides bid advantages in sovereign procurement. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 17 May 2026.)

## What could change the NTPC Green Energy story? What are the risks? 420 million units lost to curtailment in 9M FY26 in Rajasthan and Gujarat, management disclosed only under analyst pressure. ### The main risks

- Curtailment / Grid Evacuation Risk: 420 million units lost to curtailment in 9M FY26 in Rajasthan and Gujarat, management disclosed only under analyst pressure. ✓ fact
- Finance Cost Spiral, Rising Debt vs. Commissioning Lag: Interest costs rose 26% in one year (₹183 Cr Q1 → ₹230 Cr October to December 2025); will continue rising through FY27 as capital spending accelerates to fund 8 GW additions. ✓ fact
- Green Ammonia / New Business IRR Risk: Analysts flagged green ammonia bids as 'aggressive'; management provided evasive response, actual project returns unverifiable from public disclosures. ✓ fact
- FY28 Pipeline Only 60% PPA-Tied: FY28 capacity pipeline is only 60% PPA-tied (vs 82% in FY27); 40% exposed to merchant/tariff risk as capacity builds ahead of offtake agreements. ✓ fact

(Our read after the latest results, written 17 May 2026.)

## What to watch in NTPC Green Energy's next results? When NTPC Green Energy reports October to December 2026, these are the 5 checks that show whether the story is still on course. First: Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. | What to check | Why |
| --- | --- |
| Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. | Curtailment / Grid Evacuation Risk |
| April to June 2026 capacity addition run-rate; quarterly commissioned MW vs 2 GW/quarter required for 8 GW annual. |  |
| Quarterly interest expense trajectory; Debt/operating profit ratio moving above 5x would be a stress signal. | Finance Cost Spiral, Rising Debt vs. Commissioning Lag |
| Green ammonia project financial disclosures; BESS project execution and tariff disclosed in company presentations. | Green Ammonia / New Business IRR Risk |
| Quarterly PPA-tie rate disclosures in company presentations; progression from 60% to 75%+ for FY28 pipeline. | FY28 Pipeline Only 60% PPA-Tied |

## Which stock lists is NTPC Green Energy on? NTPC Green Energy is on 4 of our India lists: 52 week high & low, Small & mid cap stocks, Penny stocks and Power & green energy stocks. - [52 week high & low 52-week position: Near 52-week low](https://www.sectoralpha.in/52-week-high-stocks-india)
- [Small & mid cap stocks Size rank in India: 143](https://www.sectoralpha.in/small-cap-stocks-india)
- [Penny stocks Earnings growth, 12 months (%): 6.94](https://www.sectoralpha.in/penny-stocks-india)
- [Power & green energy stocks Group on the list: Renewable power producers](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is NTPC Green Energy profitable? NTPC Green Energy Ltd earned ₹138 Cr of net profit in the Sep 2026 quarter, +60.5% on the same quarter a year earlier. That is the 2nd quarter in a row of profit growth. Full-year FY26 profit was ₹521 Cr. Over 3 years profit has grown 45.0% a year on average. That is 14.7% of the quarter's revenue. The same quarter a year earlier earned ₹86.0 Cr. For the full year, FY26 profit was ₹521 Cr (+9.9% on the year before). Why profit moved: revenue changed +53.3% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +2.3% and revenue +48.0%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does NTPC Green Energy make, and is it growing? NTPC Green Energy Ltd reported ₹938 Cr of revenue in the Sep 2026 quarter, +53.3% on the same quarter a year earlier. That is the 8th quarter in a row with growth on the year before. Over 3 years it has grown 156.2% a year on average. The last full year, FY26, came in at ₹2,858 Cr. Why this happened. NGEL won a SECI bid to supply 70,000 metric tons per annum of green ammonia. Analysts flagged the bid as appearing aggressive; CEO Sarit Maheshwari cited RE RTC price competitiveness but did not provide actual IRR numbers in response. Green Hydrogen Hub in Andhra Pradesh is in early planning (₹7.26 Cr amortized Q3 FY26). Battery storage (80MW/320MWh) is the first such win. The last four reported quarters add to ₹3,611 Cr. FY26 revenue was ₹2,858 Cr, +29.3% on the year before. Recent pace: the last four quarters grew +48.0% on average, against 156.2% a year over the longer run, so this year is growing slower than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +49.3%, against +33.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +8.6%, against +44.9% a year (rolling over). ## How much of every ₹100 of sales does NTPC Green Energy keep? NTPC Green Energy Ltd's operating margin was 88.0% in the Sep 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 4 years it has been between 86.0% and 90.0%. The latest quarter is within that range. Why this happened. The primary value driver is capacity commissioning. Every GW commissioned converts from CWIP (zero revenue) to operational asset at a regulated tariff secured under 25-year PPAs. The revenue compound is purely mechanical: more capacity = more revenue. FY26 saw 6 GW addition, the company's first material beat vs goal. By December 2025 (Q3 FY26), total commercial capacity reached 8,010 MW, up from 5,902 MW at March 2025. The Khavda complex alone contributes 1,000+ MW in Q4 FY26. FY27 pipeline 82% PPA-tied, providing very high revenue visibility. The risk is execution timing, commissioning on odd dates creates a 1-2 quarter earnings distortion due to full-quarter depreciation vs…

Why the margin moved: operating margin changed +2.0 percentage points on the year while gross margin changed +0.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is NTPC Green Energy's profit turning into cash? Over the last 3 years, 452% of NTPC Green Energy Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹2,386 Cr of operating cash against ₹521 Cr of profit. After ₹18,698 Cr of spending on assets, free cash was −₹16,312 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 452% of profit came in as cash: the cash cycle got 622 days shorter between FY23 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 15.7× depreciation over three years. The next section checks what that spending is building. ## Where does NTPC Green Energy's cash go? NTPC Green Energy Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 78 days in FY26, down from 700 days in FY23. It spent ₹39,391 Cr on assets over the last 3 years. At FY26 sales of ₹2,858 Cr, each day of that cycle ties up about ₹7.8 Cr, so roughly ₹611 Cr is tied up in the business at any time. Spending on assets: ₹39,391 Cr over the last 3 years, against ₹2,503 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹14,193 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is NTPC Green Energy's P/E ratio, and how does it compare with its own history? NTPC Green Energy Ltd's P/E is 106.0×, about the lowest it has ever been. Its usual P/E (the middle reading) is 155.3×, over 1 year of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +10.7% while the price moved −20.1%. Earnings did better than the price, which pulled the multiple down within its own range. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## Is the NTPC Green Energy business getting better or worse? NTPC Green Energy Ltd's business is giving mixed signals. Growth has been steadily positive, but ROCE at 3.8% is below the 15% level needed to call it steady growth. This is based on 8 quarters of 3 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the NTPC Green Energy story, and has it been checked? NTPC Green Energy Ltd's story is not scored yet against the checks our research set on 17 May 2026. Where it sits in its own cycle: GROWTH spending. Still open: 420 million units lost to curtailment in 9M FY26 in Rajasthan and Gujarat, management disclosed only under analyst pressure. Our read, 17 May 2026. From the numbers. From the price. Price stage 4, week 15, below its 200-day line, relative strength falling. From the research. Where they disagree. FIIs declining from 1.98% to 1.61% over 4 quarters while DIIs are steady, institutional signal is cautious. What is proven. What is not proven yet. 420 million units lost to curtailment in 9M FY26 in Rajasthan and Gujarat, management disclosed only under analyst pressure. The test written in advance. Curtailment / Grid Evacuation Risk. Measured by: Curtailment / Grid Evacuation Risk Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda by the next result. The test written in advance. The test written in advance. Finance Cost Spiral, Rising Debt vs. Commissioning Lag. Measured by: Finance Cost Spiral, Rising Debt vs. Commissioning Lag Quarterly interest expense trajectory; Debt/EBITDA ratio moving above 5x would be a stress signal by the next result. What the company does. FY26: 6 GW added (beat 5 GW goal); NGEL crossed 10 GW operational capacity milestone and 82% of FY27 pipeline is PPA-tied, revenue ramp is mechanical, not demand-dependent. Q3 FY26 consolidated PAT collapsed to ₹17 Cr (from ₹66 Cr), NOT business deterioration: commissioning-lag accounting where depreciation kicks in before full revenue accrues compresses near-term reported profit. Lever 1 · Operating leverage: building. 6 GW added in FY26 (beat 5 GW goal); NGEL at 10 GW operational. FY27 goal 8 GW, 82% PPA-tied, revenue ramp is mechanical once commissioned. What proves it keeps working: Capacity Ramp, Mechanical Revenue Unlock. It stops working if Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. Lever 2 · Value-added mix: building. Once commissioned capacity stabilizes (no new CWIP coming online), interest and depreciation costs stop rising while revenue continues to scale, operating leverage kicks in. What proves it keeps working: Deleveraging as Commissioned Asset Base Scales. It stops working if Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. Lever 10 · New geographies: building. Won SECI bid for 70,000 MT/year green ammonia; maiden 80 MW/320 MWh BESS in Kerala, early-stage optionality, not in base case for 24 months. What proves it keeps working: Green Hydrogen / New Technology Optionality. It stops working if Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. Lever 14 · A bigger market to serve: building. India's 500 GW non-fossil goal by 2030 creates structural demand for NGEL's capacity; NTPC group's PSU status provides bid advantages in sovereign procurement. What proves it keeps working: India Policy Tailwind, 500 GW Non-Fossil Goal. It stops working if Quarterly curtailment units disclosed in company presentations; PGCIL connectivity announcements for Khavda. Sources: our stock research file (17 May 2026) · quarterly results through Sep 2026. The story check is re-scored every results season; the record below never changes. ## How much does NTPC Green Energy earn on its capital? NTPC Green Energy Ltd earned a ROCE of 4% in FY26. Its return on capital used (ROIC) is 9.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 18.2% net margin and 0.05× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 18.2% net margin × 0.05× asset turnover × 3.18× leverage (assets divided by equity) ≈ 2.9% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 2.3% − 12.0% = −9.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does NTPC Green Energy have too much debt? NTPC Green Energy Ltd has total debt of ₹31,716 Cr against shareholder equity of ₹19,189 Cr as of Jun 2026, so its debt is 1.65× its equity. Year by year, that ratio went from 2.22 in FY24 to 1.65 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the NTPC Green Energy shareholding pattern? No group of NTPC Green Energy Ltd's owners changed its stake by a full percentage point over the last two years. Promoters moved +0.0 points over the same period, to 89.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −0.6 points over 7 quarters, to 1.6%; Promoters: +0.0 points over 7 quarters, to 89.0%; Domestic institutions: +0.0 points over 7 quarters, to 5.3%. ## How far is NTPC Green Energy from balance-sheet trouble? For NTPC Green Energy Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does NTPC Green Energy rank in its industry? 52.3 out of 100, rank 8 of 21 in Power - Generation/Distribution, with 83% of the evidence available. NTPC Green Energy Ltd scores 52.3 out of 100 against the 21 companies it is compared with in Power - Generation/Distribution, ranking 8. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 20.7 + 11.8 + 8.8 + 11 = 52.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is NTPC Green Energy compared with? NTPC Green Energy ranks 8 of 21 Power - Generation/Distribution companies on the 4-Factor Sector Score, with 52.3 out of 100. 1. [ACME Solar Holdings Ltd](https://www.sectoralpha.in/stocks/acme-solar-holdings-ltd) ACMESOLAR · leader · Most evidence points up · 83% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 53.7% · Profit 57.5% · Operating margin change -1 points · 100% evidence Capital efficiency 15.6/25 · ROCE 8.9% · Operating margin 85% · 100% evidence Valuation 9.3/20 · P/E 38.1× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 48.7% · Lead over NIFTY 500 37.1% · 1 year 43.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.5 + 15.6 + 9.3 + 20 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. [Adani Power Ltd](https://www.sectoralpha.in/stocks/adani-power-ltd) ADANIPOWER · quiet · Most evidence points up · 100% evidence 65.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 17.2% · Profit 58.7% · Operating margin change 4 points · 100% evidence Capital efficiency 17.9/25 · ROCE 17.2% · Operating margin 42% · 100% evidence Valuation 7.9/20 · P/E 20× · PEG 1.83 · 100% evidence Relative strength 13.4/20 · Lead over its industry 17.8% · Lead over NIFTY 500 8% · 1 year 19.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 26.1 + 17.9 + 7.9 + 13.4 = 65.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Gujarat Industries Power Co Ltd](https://www.sectoralpha.in/stocks/gujarat-industries-power-co-ltd) GIPCL · breaking out · Evidence leans up · 81% evidence 59.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 23.7% · Profit 100% · Operating margin change 18 points · 88% evidence Capital efficiency 8.1/25 · ROCE 5.5% · Operating margin 48% · 100% evidence Valuation 11.2/20 · P/E 4.9× · PEG 2.55 · 100% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 6% · 1 year -12.5% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.6 + 8.1 + 11.2 + 12 = 59.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [JSW Energy Ltd](https://www.sectoralpha.in/stocks/jsw-energy-ltd) JSWENERGY · quiet · Evidence leans up · 82% evidence 58.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 26.4% · Profit 24.4% · Operating margin change -1 points · 95% evidence Capital efficiency 13.6/25 · ROCE 8.2% · Operating margin 57% · 76% evidence Valuation 7.8/20 · P/E 38.9× · PEG n/a · 50% evidence Relative strength 14.3/20 · Lead over its industry 10.5% · Lead over NIFTY 500 1.6% · 1 year -5.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.1 + 13.6 + 7.8 + 14.3 = 58.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Adani Green Energy Ltd](https://www.sectoralpha.in/stocks/adani-green-energy-ltd) ADANIGREEN · turning · Evidence leans up · 75% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.4/35 · Revenue 21.2% · Profit -3.3% · Operating margin change 2 points · 95% evidence Capital efficiency 14.1/25 · ROCE 7.4% · Operating margin 89% · 76% evidence Valuation 8.7/20 · P/E 109× · PEG n/a · 15% evidence Relative strength 15.9/20 · Lead over its industry 25.5% · Lead over NIFTY 500 15.2% · 1 year 13.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.4 + 14.1 + 8.7 + 15.9 = 55.1 · What this means: Relative strength against the index is 15.2%, and revenue and profit growth are weak. 6. [NTPC Ltd](https://www.sectoralpha.in/stocks/ntpc-ltd) NTPC · quiet · Evidence leans up · 82% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 7.4% · Profit 24.8% · Operating margin change 0 points · 95% evidence Capital efficiency 14.1/25 · ROCE 8.9% · Operating margin 29% · 76% evidence Valuation 11.8/20 · P/E 10.3× · PEG n/a · 50% evidence Relative strength 12.4/20 · Lead over its industry 2.7% · Lead over NIFTY 500 -5.5% · 1 year -6.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.7 + 14.1 + 11.8 + 12.4 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [SJVN Ltd](https://www.sectoralpha.in/stocks/sjvn-ltd) SJVN · quiet · Evidence leans up · 93% evidence 54.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 99% · Profit 77.6% · Operating margin change -12 points · 100% evidence Capital efficiency 11.5/25 · ROCE 5.7% · Operating margin 71% · 100% evidence Valuation 14.8/20 · P/E 21.2× · PEG 0.29 · 65% evidence Relative strength 3.3/20 · Lead over its industry -14% · Lead over NIFTY 500 -20.9% · 1 year -39.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25 + 11.5 + 14.8 + 3.3 = 54.6 · What this means: Earnings are strong; relative strength in its sector is -14% and the one-year return is -39.4%. 8. NTPC Green Energy Ltd this page NTPCGREEN · quiet · Evidence leans up · 83% evidence 52.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 49.3% · Profit 8.6% · Operating margin change 2 points · 100% evidence Capital efficiency 11.8/25 · ROCE 3.6% · Operating margin 88% · 100% evidence Valuation 8.8/20 · P/E 106× · PEG n/a · 15% evidence Relative strength 11.0/20 · Lead over its industry -0.7% · Lead over NIFTY 500 -8.7% · 1 year -20.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.7 + 11.8 + 8.8 + 11 = 52.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) NHPC · turning · Evidence leans up · 96% evidence 51.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 12% · Profit 24% · Operating margin change 6 points · 88% evidence Capital efficiency 9.1/25 · ROCE 5.8% · Operating margin 62% · 100% evidence Valuation 4.3/20 · P/E 20.6× · PEG 3.32 · 100% evidence Relative strength 17.7/20 · Lead over its industry 14.3% · Lead over NIFTY 500 5.4% · 1 year -8.4% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.8 + 9.1 + 4.3 + 17.7 = 51.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [KPI Green Energy Ltd](https://www.sectoralpha.in/stocks/kpi-green-energy-ltd) KPIGREEN · quiet · Evidence leans up · 78% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.9/35 · Revenue 40% · Profit 33.2% · Operating margin change 1 points · 83% evidence Capital efficiency 17.1/25 · ROCE 13.7% · Operating margin 35% · 76% evidence Valuation 13.4/20 · P/E 12× · PEG n/a · 50% evidence Relative strength 1.1/20 · Lead over its industry -19.1% · Lead over NIFTY 500 -25.7% · 1 year -48.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.9 + 17.1 + 13.4 + 1.1 = 51.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Jaiprakash Power Ventures Ltd](https://www.sectoralpha.in/stocks/jaiprakash-power-ventures-ltd) JPPOWER · quiet · Evidence leans down · 78% evidence 48.6 out of 100 Growth Capital Valuation Relative
12. [RattanIndia Power Ltd](https://www.sectoralpha.in/stocks/rattanindia-power-ltd) RTNPOWER · basing · Evidence leans down · 66% evidence 44.9 out of 100 Growth Capital Valuation Relative
13. [CESC Ltd](https://www.sectoralpha.in/stocks/cesc-ltd) CESC · quiet · Evidence leans down · 78% evidence 44.7 out of 100 Growth Capital Valuation Relative
14. [Orient Green Power Company Ltd](https://www.sectoralpha.in/stocks/orient-green-power-company-ltd) GREENPOWER · basing · Evidence leans down · 71% evidence 44.5 out of 100 Growth Capital Valuation Relative
15. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) TATAPOWER · quiet · Evidence leans down · 96% evidence 43.9 out of 100 Growth Capital Valuation Relative
16. [NLC India Ltd](https://www.sectoralpha.in/stocks/nlc-india-ltd) NLCINDIA · quiet · Evidence leans down · 78% evidence 42.2 out of 100 Growth Capital Valuation Relative
17. [Torrent Power Ltd](https://www.sectoralpha.in/stocks/torrent-power-ltd) TORNTPOWER · quiet · Evidence leans down · 78% evidence 39.8 out of 100 Growth Capital Valuation Relative
18. [India Power Corporation Ltd](https://www.sectoralpha.in/stocks/india-power-corporation-ltd) DPSCLTD · quiet · Evidence leans down · 81% evidence 38.4 out of 100 Growth Capital Valuation Relative
19. [Reliance Power Ltd](https://www.sectoralpha.in/stocks/reliance-power-ltd) RPOWER · basing · Most evidence points down · 64% evidence 28.8 out of 100 Growth Capital Valuation Relative
20. [BF Utilities Ltd](https://www.sectoralpha.in/stocks/bf-utilities-ltd) BFUTILITIE · quiet · Too little evidence to rank firmly · 53% evidence 27.2 out of 100 Growth Capital Valuation Relative
21. [Mac Charles (India) Ltd](https://www.sectoralpha.in/stocks/mac-charles-indialtd) Too little evidence to rank firmly · 32% evidence 52.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Power - Generation/Distribution](https://www.sectoralpha.in/sectors/power-generation-distribution), all 21 compared on one page. ## Which companies are close to NTPC Green Energy in size? NTPC Green Energy is the 7th largest of 21 Power - Generation/Distribution companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Tata Power Company, JSW Energy and NHPC. Just below it: Torrent Power, NLC India and ACME Solar Holdings. ### Power - Generation/Distribution companies close in size

1. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) ₹1,10,255 crore
2. [JSW Energy Ltd](https://www.sectoralpha.in/stocks/jsw-energy-ltd) ₹91,738 crore
3. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) ₹78,090 crore
4. NTPC Green Energy Ltd ₹69,467 crore
5. [Torrent Power Ltd](https://www.sectoralpha.in/stocks/torrent-power-ltd) ₹59,103 crore
6. [NLC India Ltd](https://www.sectoralpha.in/stocks/nlc-india-ltd) ₹31,608 crore
7. [ACME Solar Holdings Ltd](https://www.sectoralpha.in/stocks/acme-solar-holdings-ltd) ₹28,614 crore

[All 21 Power - Generation/Distribution companies, largest first](https://www.sectoralpha.in/sectors/power-generation-distribution#all-companies)

### Companies close in size in other industries

1. [Phoenix Mills Ltd](https://www.sectoralpha.in/stocks/phoenix-mills-ltd) ₹70,008 crore · Realty - Commercial
2. [Ather Energy Ltd](https://www.sectoralpha.in/stocks/ather-energy-ltd) ₹69,693 crore · Auto - 2 & 3 Wheelers
3. NTPC Green Energy Ltd ₹69,467 crore
4. [SRF Ltd](https://www.sectoralpha.in/stocks/srf-ltd) ₹69,230 crore · Chemicals - Flourine
5. [Mazagon Dock Shipbuilders Ltd](https://www.sectoralpha.in/stocks/mazagon-dock-shipbuilders-ltd) ₹68,788 crore · Ship - Docks/Breaking/Repairs

## What else do people ask about NTPC Green Energy? ### What is NTPC Green Energy's share price today? NTPC Green Energy Ltd's share price is ₹82.37, −20.1% over the past year. The whole company is worth ₹69,442 Cr on the market. In the last 52 weeks it traded between ₹81 to ₹112; today it is 4% of the way up from the low, 12.7% below its 200-day average (as of 3 November 2026). ### What were NTPC Green Energy's latest quarterly results? NTPC Green Energy Ltd reported revenue of ₹938 Cr and net profit of ₹138 Cr for the Sep 2026 quarter. Revenue rose 53.3% and profit rose 60.5% compared with a year earlier. Earnings per share were ₹0.16. The operating margin was 88.0%, 2.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is NTPC Green Energy's market cap? NTPC Green Energy Ltd's market capitalisation is ₹69,442 Cr at a share price of ₹82.37. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### What is NTPC Green Energy's P/E ratio? NTPC Green Energy Ltd's P/E is 106.0×, higher than 1% of its own last 2 years. Its usual level (the middle reading) is 155.3×. This compares the price with the company's own past; it is not a view on what the shares are worth (as of 3 November 2026). ### How is NTPC Green Energy valued against its own history? Against its own history, NTPC Green Energy Ltd's valuation is low: its P/E of 106.0× has been lower only 1% of the time in 2 years (usual level 155.3×). This compares the price with the company's own past; it is not a view on what the shares are worth or where the price goes next (as of 3 November 2026). ### How is NTPC Green Energy performing? NTPC Green Energy Ltd's share price has been falling for 15 weeks. In its latest quarter, revenue rose 53.3% and profit rose 60.5% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 3 weeks running (as of 3 November 2026). ### Will NTPC Green Energy's share price go up? This page does not forecast NTPC Green Energy Ltd's share price. What it shows instead: the share price is ₹82.37, and it has been falling for 15 weeks. Its P/E of 106.0× is higher than 1% of its own last 2 years (as of 3 November 2026). ### Who owns NTPC Green Energy? Promoters own 89.0% of NTPC Green Energy Ltd, foreign institutions 1.6%, domestic institutions 5.3% and the public 4.1% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 3 November 2026). ### Does NTPC Green Energy have too much debt? Yes, NTPC Green Energy Ltd has a lot of debt: its debt is 1.67× its equity, and its operating profit is 3 times its interest bill. FY26 borrowings were ₹31,716 Cr against equity of ₹18,965 Cr. Keep that borrowing in mind when reading the returns on this page (as of 3 November 2026). ### Where is NTPC Green Energy in its business cycle? NTPC Green Energy Ltd's FY26 operating margin was 86.0%, against a 4-year range of 86.0% to 90.0%: the low end of its own range, which is often where recoveries start. The latest quarter was 88.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the NTPC Green Energy story? The main question: yearly earnings per share moved +10.7% while the share price moved −20.1%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is NTPC Green Energy a stock worth studying right now? What the numbers show: NTPC Green Energy Ltd's earnings have grown faster than its share price. Earnings per share grew +10.7% in a year while the price moved −20.1%. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a NTPC Green Energy share price forecast for 2026? What is changing at NTPC Green Energy, from the latest results and calls: capacity ramp, mechanical revenue unlock, deleveraging as commissioned asset base scales and green hydrogen / new technology optionality. What would change the story: 420 million units lost to curtailment in 9M FY26 in Rajasthan and Gujarat, management disclosed only under analyst pressure. ## Lists

- 52 week high & low: https://www.sectoralpha.in/52-week-high-stocks-india
- Small & mid cap stocks: https://www.sectoralpha.in/small-cap-stocks-india
- Penny stocks: https://www.sectoralpha.in/penny-stocks-india
- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

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