NTPC · Electric Utilities · INE733E01010
Analyst mean 1.62 · 26 analysts · 77% bullishWhat the numbers mean when read together — computed from the filings, not a score.
Operating cash flow is 180% of trailing profit — the earnings are converting to cash, not just accruals.
Last operating cash flow ₹50,902 cr against trailing net profit ₹28,333 cr. A ratio at or above ~0.9 means reported profit is showing up as real cash.
Both revenue and profit grew over the last year (2.3% and 15.4%) — growth is translating to the bottom line.
Trailing revenue ₹191,059 cr, trailing profit ₹28,333 cr. Profit growing at least as fast as revenue indicates operating leverage or pricing power.
Free cash flow swings between positive and negative across the cycle.
Latest ₹6,895 cr, negative in 3 of 12 years.
Capital work-in-progress has stayed high (27% of fixed assets) without converting to productive assets — worth checking whether projects are genuinely progressing.
CWIP ₹84,833 cr vs ₹87,664 cr two years earlier, against fixed assets ₹318,821 cr. Perennial CWIP that never becomes a fixed asset can hide stalled projects or capitalised costs that should have been expensed.
Markers show corporate actions (splits, bonus, dividends). Prices are split-adjusted so the series is continuous.
| Metric | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 44,706 | 45,069 | 49,834 | 47,064 | 44,786 | 45,846 | 49,686 | 50,741 |
| Expenses | 33,041 | 31,729 | 35,080 | 34,485 | 31,970 | 31,276 | 41,181 | 34,510 |
| Other Income | 3,218 | 986 | 4,180 | 3,241 | 2,734 | 1,738 | 1,918 | 1,549 |
| Depreciation | 4,216 | 4,318 | 4,663 | 4,587 | 4,816 | 5,093 | 5,134 | 5,234 |
| Profit before tax | 7,046 | 7,245 | 10,623 | 7,765 | 7,301 | 8,050 | 1,553 | 9,160 |
| Net Profit | 5,380 | 5,170 | 7,897 | 6,108 | 5,225 | 5,597 | 10,615 | 6,896 |
| EPS | 5.44 | 5.22 | 7.85 | 6.20 | 5.23 | 5.66 | 10.81 | 6.93 |
| Item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity Capital | 9,697 | 9,697 | 9,697 | 9,697 | 9,697 | 9,697 |
| Reserves | 116,042 | 125,677 | 137,326 | 151,013 | 174,374 | 193,479 |
| Borrowings | 210,208 | 210,707 | 222,913 | 237,131 | 250,096 | 271,005 |
| Fixed Assets | 203,245 | 224,923 | 240,424 | 258,934 | 271,437 | 318,821 |
| CWIP | 97,506 | 91,126 | 89,179 | 87,664 | 100,859 | 84,833 |
| Investments | 10,589 | 10,626 | 13,935 | 15,885 | 19,704 | 24,180 |
| Total Assets | 398,022 | 415,831 | 447,189 | 479,278 | 523,497 | 558,644 |