NTPC (NTPC) Q4 25/26 earnings summary

Executive summary

• Achieved highest-ever annual capacity addition in FY26, with 9,618 MW added, bringing group installed capacity above 90 GW, including significant renewable and thermal contributions.

• Renewable energy capacity additions reached 5,488 MW in FY26, with NGEL contributing 4,225 MW, and total group RE capacity at 12,068 MW.

• Group consolidated profit for FY26 rose to ₹27,546 crore, up from ₹23,953 crore in FY25.

• Major progress in nuclear, pumped storage, and battery energy storage projects, with new regulatory support for BESS.

• Audited standalone and consolidated financial results for FY26 were approved with unmodified audit opinions.

Financial highlights

• Standalone total income for FY26 was INR 169,725 crore, down 2.69% year-over-year; Q4 FY26 income was INR 44,030 crore.

• Standalone PAT for FY26 rose 18% to INR 23,162 crore; Q4 PAT up 51.4% to INR 8,747 crore.

• Adjusted PAT for FY26 was INR 19,530 crore, up 8% year-over-year.

• Consolidated group income for FY26 was INR 189,799 crore; group PAT increased 15% to INR 27,546 crore.

• Dividend for FY26 totals ₹9.00 per share, including a final dividend of ₹3.50/share.

Outlook and guidance

• Planned capacity additions: 9,557 MW in FY27 (8,237 MW renewables), 10,039 MW in FY28 (8,135 MW renewables), and 11,478 MW in FY29.

• Large pipeline of projects under construction, including 16,520 MW coal, 2,631 MW hydro, and 15,037 MW renewables as of March 2026.

• NGEL targets average 8 GW RE capacity addition per year, aiming for 60 GW by 2032.

• CapEx guidance for NGEL: INR 35,800 crore (current year), INR 56,000 crore (next year), INR 48,000 crore (following year).

• 72%-75% of upcoming RE capacity has PPAs tied up for the next three years.