NTPC (NTPC) Q4 24/25 earnings summary

Executive summary

• Achieved significant milestones in FY25, including the listing of NTPC Green Energy Limited, major expansion in renewable energy capacity, and a total installed capacity reaching 80 GW, positioning the group as a leader in India's energy transition.

• Group commercial capacity reached 79,930 MW, with 3,312 MW of new renewable capacity added in FY25, and total generation grew 4% year-over-year to 439 billion units.

• Operational excellence highlighted by a coal plant PLF of 77.44%, the highest in seven years, and record single-day output.

• Coal mining output quadrupled in 5 years to 46 MMT, now supplying 15% of total coal needs.

• Audited standalone and consolidated financial results for Q4 and FY25 approved with unmodified audit opinions.

Financial highlights

• Standalone Q4 FY25 total income rose 4% year-over-year to INR 45,813 crore; PAT up 4% to INR 5,778 crore.

• Full-year standalone income grew 5% to INR 1,74,414 crore; PAT up 9% to INR 19,649 crore.

• Consolidated FY25 income increased 5% to INR 1,90,862 crore; group PAT up 12% to INR 23,953 crore, driven by a 35% rise in JV profits.

• Standalone revenue from operations for FY25 was ₹170,037.37 crore, up from ₹162,008.95 crore year-over-year.

• Total FY25 dividend of INR 8.35 per share, up from INR 7.75 last year.

Outlook and guidance

• Targeting 11,806 MW capacity addition in FY26 (3,518 MW thermal, 1,000 MW hydro, 7,226 MW renewables); 9,904 MW in FY27 (1,460 MW thermal, 444 MW hydro, 8,000 MW renewables).

• Targeting 60 GW+ renewable energy capacity by 2032 and 30 GW nuclear capacity by 2047, with multiple projects and partnerships initiated.

• Confident in achieving 6.5 GW renewable addition in FY26, with land and connectivity secured for upcoming projects.

• Group CapEx guidance: INR 55,920 crore in FY26, INR 97,363 crore in FY27, and INR 112,172 crore in FY28.

• Pumped storage portfolio of 21,240 MW, with first 1,000 MW commissioning soon.