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NTPCGREEN - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.2

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.2

Stock Code NTPCGREEN Market Cap 82,426 Cr. Current Price 97.8 ₹ High / Low 118 ₹
Stock P/E 160 Book Value 22.2 ₹ Dividend Yield 0.00 % ROCE 6.42 %
ROE 3.95 % Face Value 10.0 ₹ DMA 50 91.3 ₹ DMA 200 97.6 ₹
Chg in FII Hold -0.18 % Chg in DII Hold 0.17 % PAT Qtr 60.3 Cr. PAT Prev Qtr 86.0 Cr.
RSI 66.6 MACD 1.85 Volume 1,32,18,529 Avg Vol 1Wk 8,81,49,314
Low price 84.0 ₹ High price 118 ₹ Debt to equity 0.42 52w Index 41.0 %
Qtr Profit Var -32.6 % EPS 0.61 ₹ Industry PE 30.0

📊 Financials

  • Revenue & Profitability: PAT declined from ₹86 Cr. to ₹60.3 Cr. (-32.6%), showing earnings pressure. EPS at ₹0.61 is very low.
  • Margins & Returns: ROCE (6.42%) and ROE (3.95%) are weak, reflecting poor efficiency and profitability.
  • Debt: Debt-to-equity ratio of 0.42 indicates moderate leverage.
  • Cash Flow: Weak due to low profitability, though debt remains manageable.

💹 Valuation

  • P/E Ratio: 160 vs Industry PE of 30.0 → Extremely overvalued compared to peers.
  • P/B Ratio: ~4.4 (Price ₹97.8 / Book Value ₹22.2) → Expensive on book value basis.
  • PEG Ratio: Not meaningful due to weak earnings growth.
  • Intrinsic Value: Current price trades far above fair value, limiting upside.

🏢 Business Model & Competitive Advantage

  • NTPC Green Energy operates in renewable power generation, benefiting from government initiatives and rising demand for clean energy.
  • Competitive advantage lies in parent NTPC’s backing, scale, and regulatory support.
  • No dividend yield, reflecting reinvestment focus rather than shareholder payouts.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive only near ₹85–90 range (close to 52W low of ₹84 and below DMA levels).
  • Long-Term Holding: Suitable for investors seeking exposure to renewable energy growth, but accumulation should be cautious due to stretched valuations and weak profitability.


✅ Positive

  • Strong backing from NTPC ensures operational stability.
  • Renewable energy sector offers long-term growth potential.
  • DII holdings increased (+0.17%), showing modest domestic institutional support.

⚠️ Limitation

  • Extremely high P/E ratio (160) compared to industry average.
  • Weak ROCE (6.42%) and ROE (3.95%).
  • No dividend yield reduces attractiveness for income investors.

📉 Company Negative News

  • PAT dropped significantly compared to previous quarter (-32.6%).
  • FII holdings reduced (-0.18%), showing cautious foreign sentiment.
  • High valuation multiples limit investor confidence.

📈 Company Positive News

  • DII holdings increased (+0.17%), reflecting some domestic institutional support.
  • Stock trading above DMA 50 (₹91.3) shows technical support.
  • MACD at +1.85 indicates mild bullish momentum.

🏭 Industry

  • Renewable energy industry benefits from government incentives and global clean energy demand.
  • Industry PE at 30.0 suggests peers trade at more reasonable valuations, highlighting NTPC Green’s premium pricing.

🔎 Conclusion

  • NTPC Green Energy offers long-term potential in renewables with strong parent backing.
  • However, weak profitability and extremely high valuations make current levels unattractive.
  • Best strategy: Accumulate cautiously near ₹85–90 range for long-term holding, while avoiding aggressive buying at current highs.

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