NTPC Green Energy (NTPCGREEN) Q4 23/24 earnings summary

Executive summary

• FY24 consolidated revenue from operations was ₹1,962.60 crore, profit for the year ₹342.86 crore and EPS ₹0.72; FY23 covered only 31 days after the renewable assets transfer, limiting comparability.

• Standalone revenue from operations was ₹1,951.13 crore and net profit ₹370.47 crore; standalone EPS was ₹0.78.

• Consolidated operating capacity reached 2,925 MW across six states; generation was 5,712 MU at 23.86% average CUF.

Financial highlights

• Consolidated operating revenue comprised ₹1,887.46 crore of energy sales, ₹10.05 crore of consultancy and ₹65.09 crore of government grants recognized as revenue.

• Consolidated finance costs were ₹690.57 crore and depreciation and amortization ₹642.75 crore; ₹152.87 crore of borrowing costs was capitalized during the year.

• Consolidated PPE was ₹17,573.01 crore and CWIP ₹7,138.07 crore at year-end, versus ₹14,758.13 crore and ₹1,749.34 crore, respectively, a year earlier.

• Consolidated cash and cash equivalents closed at ₹115.62 crore; operating cash flow was ₹1,579.06 crore and financing cash flow ₹8,311.16 crore.

Outlook and guidance

• Targeting 60 GW of installed renewable capacity by 2032 through UMREPPs, partnerships with companies and state governments, and competitive bids.

• Pudimadaka Green Hydrogen Hub is planned across 1,200 acres; when fully developed, it is expected to use 5 GW of renewable power and export ~2 MMTPA of green ammonia and green methanol.

• The hub concept includes hydrogen-equipment manufacturing and green hydrogen production and export; a detailed proposal was submitted to Andhra Pradesh.