NTPC (NTPC) Q4 06/07 earnings summary

Executive summary

• FY07 gross revenue rose 20.59% to Rs. 353,766 million; net profit increased 17.95% to Rs. 68,647 million, alongside record generation of 188.674 billion units.

• With ~20% of India's installed capacity, generation reached 28.5% of national output; coal PLF hit 89.43% and gas PLF 71.90%.

Financial highlights

• Standalone sale of energy was Rs. 325,344 million, up 22% YoY; units sold increased 11%, and average selling price rose to Rs. 1.75/unit from Rs. 1.64.

• Standalone PBT was Rs. 89,074 million vs Rs. 66,087 million; PAT was Rs. 68,647 million vs Rs. 58,202 million.

• Adjusted for prior-year revenues and other specified items, gross income was Rs. 346,900 million and PAT Rs. 64,146 million; adjusted PAT grew 20% YoY.

• Net cash from operations increased 35% to Rs. 80,653 million; cash and bank balances reached Rs. 133,146 million at year-end.

Outlook and guidance

• Planned XI Plan capacity addition is ~22,600 MW for 2007-12; 13,360 MW was under execution, with planning for the balance at an advanced stage.

• Capacity ambitions are 50,000 MW-plus by 2012 and 75,000 MW-plus by 2017; hydro plans include 1,920 MW by 2012 and 2,000 MW of nuclear capacity by 2017.

• Main plant orders were placed and work commenced for 13,360 MW; orders for the remaining 9,000 MW-plus were planned within the year.

• Renewable generation plans target at least 1,000 MW by 2017; a JV portfolio of ~500 MW is intended to be established over three years.