NTPC Green Energy (NTPCGREEN) Q4 22/23 earnings summary

Executive summary

• First operating year; acquired 15 renewable assets on 28 Feb 2023 and generated revenue only in March, limiting comparability with a full year.

• Standalone profit was ₹174.44 crore; consolidated profit was ₹173.08 crore, both materially supported by a deferred-tax benefit.

Financial highlights

• Standalone revenue from operations was ₹169.69 crore, including ₹164.71 crore from energy sales and ₹4.98 crore of government grants; total income was ₹170.60 crore.

• Consolidated revenue from operations was ₹169.69 crore and total income ₹170.64 crore; consolidated PBT was ₹55.03 crore and PAT ₹173.08 crore.

• Standalone PBT was ₹56.38 crore; tax expense was a benefit of ₹118.06 crore, taking PAT to ₹174.44 crore.

• Consolidated operating cash flow was ₹15.77 crore, investing cash flow was negative ₹10,687.60 crore, and financing cash flow was ₹10,738.26 crore.

Outlook and guidance

• Capacity build-out remains aligned with the 60 GW renewable capacity target by 2032; initiatives include solar and wind projects, renewable parks, green hydrogen, storage and pumped storage.

• The outlook cites growth opportunities from clean-energy demand and supportive policies; technology efficiency and portfolio diversification are priorities.

• A 50:50 Indian Oil JV formed in June 2023 to develop renewable projects and supply 650 MW or more of round-the-clock power; an HPCL agreement covers 400 MW.