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Informist, Thursday, Oct. 30, 2025

 

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--NTPC: NTPC Green's installed capacity as of date 7,564 MW
--CONTEXT: Comments by NTPC mgmt in post-earnings analyst call
--NTPC: Coal station plant load factor 70.52% vs rest of India avg of 64.32%
--NTPC: Incurred capex of INR 133 bln on coal mining as of Sept 30
--NTPC: Q2 standalone regulated equity INR 954.54 bln; INR 894.30 bln Q2 FY25
--NTPC: Q2 consol regulated equity INR 1.16 trln vs INR 1.05 trln in Q2 FY25
--NTPC: Apr-Sept consol capex INR 231.15 bln vs INR 174.74 bln in H1 FY25
--NTPC: NTPC Green will incur capex of INR 240 bln in Oct-Mar

 

By Anand JC and Ashutosh Pati

 

MUMBAI – NTPC Ltd.'s renewable energy arm NTPC Green Energy Ltd. will incur a capital expenditure of INR 240 billion in the second half of 2025-26 (Apr-Mar), having spent only 20% of the full year target of INR 300 billion in the first half, the former's management told analysts in a post-earnings conference call Thursday. NTPC Green will incur a capital expenditure of INR 450 billion-INR 460 billion in the next financial year, the company said. 

 

NTPC holds an 89% stake in NTPC Green, while the rest is held by the public. NTPC Green added a capacity of 1,506 megawatt in Apr-Sept and another 1,566 MW in October so far, taking the overall capacity of the renewable energy company to 7,564 MW.

 

At a consolidated level, NTPC incurred a capital expenditure of INR 231.15 billion, just over 32% higher on year, its management said. NTPC added 4,403 MW capacity in the first half of FY26, its highest for the first six months of any financial year since its inception. 

 

NTPC has a target of increasing its capacity to 149 GW by 2032 and 244 GW by 2037. Currently, the company has 33 GW of capacity under construction. "To achieve the targeted capacity addition, we are well on track to place awards of contracts of new capacities in both coal and renewables," NTPC's management said. Currently, NTPC's installed capacity is 84.85 GW.

 

The plant load factor of NTPC's coal stations was 70.52%, compared with the national average of 64.32%. "In the current fiscal, (power) demand growth has been somewhat moderate compared to the previous years, largely due to the milder summer and extended monsoon," the company said.

 

NTPC, which has a significant presence in thermal power generation, has nine coal blocks with a capacity of 91.6 million tonnes per annum. A total of six coal blocks under NTPC are now commercially operational, with the Jharkhand-based Kerandari coal mine now operational. The company incurred a capital expenditure of INR 133 billion on coal mining as of Sept. 30. 

 

NTPC earned a regulated equity of INR 954.54 billion for the September quarter, up nearly 7% from INR 894.30 billion earned a year ago. At a consolidated level, its regulated equity for the reporting quarter stood at INR 1.16 trillion, up 10% on year. NTPC works under a regulatory mechanism that ensures its returns are largely assured. The Central Electricity Regulatory Commission determines tariffs to be paid to NTPC when the company signs long-term power purchase agreements. This provides the company with long-term earnings and cash flow visibility.

 

The company reported its earnings after the market closed. NTPC reported a net profit of INR 46.53 billion on revenue of INR 391.67 billion. On Thursday, its shares closed at INR 345.15 on the National Stock Exchange, down 0.7%.  End

 

Edited by Akul Nishant Akhoury 

 

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