Thank you. A very good evening to all the participants. I, Jaikumar Srinivasan, Director Finance of NTPC and NGEL welcome all of you to the Q3 FY '25 Conference Call of NTPC Limited. I have with me Shri Shivam Srivastava, Director of Fuel; Shri K. Shanmugha Sundaram, Director Project of NTPC and NGEL; Shri Ravindra Kumar, Director Operations of NTPC; and Shri Anil Kumar Jadli, Director Human Resources, NTPC. I also have with me other key members of the NTPC Group.
Today, the company has announced the unaudited financial results for the quarter and 9 months ended 31 December 2024. The key performance highlights for the aforementioned periods have already been disclosed on both the stock exchanges.
NTPC Group has completed yet another outstanding quarter showcasing robust operational and financial performance. The successful listing of the NTPC Green Energy Limited, NGEL, during the quarter marked a significant milestone in NTPC's journey towards sustainable energy leadership.
With it's successful listing on 27 November 2024, NGEL has positioned itself as a key player in the Indian renewable energy sector.
This strategic move highlights NTPC's commitment to accelerating the Nation's energy transition and its leadership in clean energy initiatives.
Coming to the operational highlights for third quarter and 9 months financial year '25. During 9 months FY '25, NTPC Group added 640-megawatt commercial capacity -- commercial RE capacity to its portfolio. As on 31 December 2024, the commercial capacity of NTPC stands at 59,168-megawatt on a stand-alone basis and 76,598 megawatts for the group. In the current quarter, we have added 135-megawatt RE capacity and 660-megawatt coal capacity of our subsidiary, THDC India Limited is being declared commercial from tomorrow.
I repeat 660 megawatts coal capacity of our subsidiary THDC , is being secured commercial from tomorrow.
NTPC Group generated 327 billion units in 9 months FY '25 as compared to 315 billion units in 9 months FY '24, registering a growth of 4%. NTPC's stand-alone gross generation in 9 months FY '25 also grew by 4% to 278 billion units from 268 billion units in the corresponding previous period.
During 9 months FY '25, PLF of coal stations of NTPC was 76.20%, as against 67.20% PLF of coal stations of Rest of India. Rihand Station with a PLF of 89.42% is the seventh ranked station and Singrauli Station with a PLF of 88.59% is eighth rank station in the All India PLF Ranking during the 9-month period ended 31 December 2024.
Overall, 7 NTPC stations are ranked among the top 15 stations.
As regards the status of fuel supply, coal supply during 9 months FY '25 was 185.15 million metric tonnes, including 2.26 million metric tonne of imported coal. The coal supply during the corresponding previous period was 175.84 million metric tonnes including 5.88 MMT of imported coal. NTPC has registered highest ever coal production of 30.88 MMT in 9 months FY '25 with growth of 23% as against 25.12 MMT in the 9 months FY '24.
Cumulative expenditure of INR 11,841 crores has been incurred on the development of coal mines till 31st December 2024.
Coming to the financial performance. For NTPC, on a stand-alone basis, total income for Q3 FY '25 is INR 42,303 crores as against INR 40,288 crores in the corresponding quarter of previous year, registering a growth of 5%. For 9 months FY '25, the total income increased by 6% to INR 1,28,601 crores from INR 1,21,486 crores in the corresponding previous period.
NTPC's Profit after tax for Q3 FY '25 is INR 4,711 crores as against INR 4,572 crores in the corresponding quarter of previous year, registering an increase of 3%. On 9 monthly basis, profit after tax is INR 13,871 crores as against INR 12,523 crores in 9 months FY '24, registering an increase of 11%.
Total income of the group for 9 months FY '25 is INR 1,39,777 crores as against INR 1,32,349 crores in the corresponding previous period, an increase of 6%. PAT of the group for 9 months financial '25 is INR 16,056 crores as against the corresponding previous period PAT of INR 14,842 crores, registering an increase of 8%. We expect to maintain similar growth on a full year basis also.
During 9 months FY '25, our subsidiaries earned profit of INR 1,908 crores as compared to INR 1,516 crores in the corresponding period of previous year, registering an increase of 26%. NTPC's share of profit in JVs has increased from INR 1,425 crores -- INR 1,424 crores in FY '24 to INR 1,581 crores in 9 months FY '25 registering an increase of 11%.
During 9 months FY '25, we have accounted for dividend income of INR 1,309 crores from our subsidiaries and joint venture companies as against INR 653 crores during 9 months FY '24.
Stand-alone regulated equity for conventional power and mining business as on 31st December 2024 is INR 90,289 crores, which was INR 84,498 crores in the previous year, registering a growth of 7%.
On a consolidated basis, regulated equity as on 31st December 2024 is INR 1,05,854 crores, which is 5% over the last year's figure of like INR 1,01,116 crores.
The Board has declared the second interim dividend of INR 2.5 per share for the financial year 2024-'25. First interim dividend of INR 2.5 per share was paid in November 2024. The average interest rate on borrowings for the company during 9 months FY '25 was 6.64% as compared to 6.66% in 9 months FY '24.
In the 9 months FY '25, we have incurred a group CapEx of INR 31,133 crores as compared to INR 21,642 crores in the corresponding previous period, while on a stand-alone basis NTPC has incurred a CapEx of INR 16,305 crores as compared to INR 11,963 crores in the corresponding previous period.
As part of our overall capacity expansion plans, Investment approval has been accorded for 8 gigawatt thermal capacity during the current fiscal at an aggregate appraised current estimated cost of INR 1 lakh crores.
Total thermal capacity under construction now stands at 17.56 gigawatts. In addition, Hydro and RE capacity in -- in addition, Hydro and RE capacity under construction is 2.2 gigawatt and 10.3 gigawatts, respectively, taking total capacity into construction for NTPC Group to over 30 gigawatts. We are actively considering awarding additional thermal capacity to the tune of 7.2 gigawatts for the financial year '26,'27 and with an ambitious target of 60 gigawatts of renewable energy by 2032, NTPC is poised for significant growth in the coming years.
Furthermore, we have greater fuel security, we are enhancing our coal mining capacity as well. It is planned to enhance NTPC Group coal production from 40 million metric tonne in financial year '25 to an estimate of 67 million metric tonne by FY '29.
To accelerate our growth, NTPC is also positioned to make significant contribution to the energy transition through clean baseload generation technologies, such as nuclear power.
For taking this forward. Anushakti Vidhyut Nigam Limited ASHVINI, a joint venture company of NTPC and Nuclear Power Corporation Limited, has been established or commissioning Pressurized Heavy Water Reactor Nuclear Projects.
We have recently signed a Supplementary Joint Venture agreement with NPCIL for transfer of 2800 megawatts Mahi Banswara Rajasthan Atomic Power Plant Project from NPCIL to ASHVINI.
Further, NTPC Parmanu Urja Nigam Limited has been incorporated on 7 January 2025 as the wholly owned subsidiary of NTPC Limited for undertaking Nuclear Energy Business. We are planning to conduct site studies at many locations. We have already got permission for 4 locations in MP for site studies.
Going Higher on Generation, Lowering GHG intensity, remains our motto for environmental management and drives our efforts to comply with new environmental norms. We have taken significant steps to control SOx and NOx emissions. Over the next 3 years, we plan to commission FGD system for the entire operational capacity, ensuring a substantial reduction in SOx emissions. We have commissioned 16.48 gigawatts and work in FGD packages for a cumulative capacity of 52 gigawatts is under progress.
As part of its ongoing sustainability measures to reduce greenhouse gases, NTPC Stations received 4.29 lakh metric tonne of biomass in 9 months FY '25, a remarkable increase compared to 0.71 lakh metric tonnes during the same period last year. We have signed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited for Chhabra Thermal Power Plant. RVUNL has 2,320 megawatt plant at Chhabra, and we have mutually agreed to form a 50-50 JV company, which will own and operate the said power plant and also explore opportunities for its capacity expansion.
Now turning to the highlights of NTPC Green Energy Limited. During 9 months FY '25, NGEL has added 550-megawatt commercial RE capacity to its portfolio. As on 31st December 2024, the commercial capacity of NGEL stands at 3,475 megawatts as against 2,761 megawatts as on 31st December 2023. NGEL has added an additional 135-megawatt of renewable capacity in the fourth quarter to date. NGEL generated 4,742 million units in 9 months FY '25 as compared to 4,199 million units in 9 months FY '24, registering a growth of 13%.
During 9 months FY '25, CUF of NGEL stations was 22.99% as against 23.37% in corresponding period of previous year, mainly due to lower GHI and extended monsoon.
NGEL's total income for Q3 FY '25 IS INR 581 crores as against INR 463 crores in the corresponding quarter of the previous year, registering an increase of 25%. For 9 months FY '25, the total income grew by 15% to INR 1,714 crores from INR 1,485 crores in the corresponding previous period.
NTPC's (sic) [ NGEL's ] total EBITDA for Q3 FY '25 risen by 22% to INR 500 crores as against INR 412 crores in the corresponding period of previous year. On 9 months basis, total EBITDA is INR 1,483 crores as against INR 1,337 crores in 9 months FY '24, registering a growth of 11%.
I stand corrected, it is NGEL's total EBITDA for Q3 has risen from 22%. You can correct it.
In 9 months FY '25, NGEL, on a consolidated basis, has incurred capacity of INR 7,261 crores as compared to INR 2,779 crores in the corresponding previous period. Total contracted and awarded capacity has increased by 63% during last one year to 13,921 megawatts as on 31st December 2024 from 8,550 megawatts as on 31st December 2023.
NTPC's Renewable Energy Limited, subsidiary of NGEL, successfully secured 1,000 megawatt in solar power auction by Uttar Pradesh Power Corporation Limited, UPPCL at a tariff of INR 2.56 per kWh. Additionally, NTPC REL won 500 megawatt of solar capacity in a SECI auction, which also includes the installation of 250 megawatts by 1,000 megawatt hours energy storage system at a tariff of INR 3.52 per kilowatt hours. NTPC REL also won 300-megawatt capacity in NHPC auction which also includes the installation of 150 megawatts by 300-megawatt hours energy storage system, at a tariff of INR 3.09 per kWh.
In total, we have won 2,200 megawatts of Tariff-Based Competitive Bidding Bids during the current fiscal.
To take its growth journey forward, NGEL has incorporated several joint ventures during this fiscal.
NTPC Rajasthan Green Energy Limited, the 74-26 JV with Rajasthan Rajya Vidyut Utpadan Nigam Limited aims to develop renewable energy parks and green hydrogen projects in Rajasthan with up to 25 gigawatt capacity.
NTPC UP Green Energy Limited, 51-49 JV with UPRVUNL, focuses on developing renewable energy parks and projects in Uttar Pradesh.
Mahagenco NTPC Green Energy Private Limited, a 50-50 JV with Mahagenco will develop and operate renewable energy parks in Maharashtra.
ONGC NTPC Green Private Limited. 50-50 JV with ONGC Green Limited will explore and develop renewable energy projects, including offshore wind initiatives.
NGEL has signed 2 joint venture agreements: one with Mahatma Phule Renewable Energy and Infrastructure Technology Limited Mahapreit to develop 10 gigawatts of renewable energy parks and another which the new and Renewable Energy Development Corporation of Andhra Pradesh to establish 25 gigawatt of renewable energy capacity, 0.5 million metric tonnes of green hydrogen and 10 gigawatt of pumped storage projects in Andhra Pradesh.
NGEL has signed 2 key MOUs during the quarter, one with the Government of Bihar for investments in renewable energy projects, including solar, battery storage and green hydrogen, with government facilitating necessary approvals. Second, MOU with Chhattisgarh State Power Generation Corporation Limited focuses on developing up to 2,000 megawatt of renewable energy projects, including floating solar.
As regards our green hydrogen initiative, I would like to share that NTPC commissioned the Green Hydrogen Mobility Project at Leh comprising 1.7 megawatt solar plant, Green hydrogen filling station of capacity 80 kg per day and 5 hydrogen intra-city buses. Honorable Prime Minister laid the foundations for the NGEL Green Hydrogen Hub in Andhra Pradesh, marking India's first Green Hydrogen Hub under the National Green Hydrogen Mission. Detailed engineering for enabling infrastructure for Green Hydrogen Hub have started.
NTPC Renewable Energy Limited, NTPC REL, signed an MOU with Kandla Port to set up hydrogen fueling stations and 11 hydrogen buses. NTPC also signed an MOU with GRIDCO and CRUT in Odisha to implement a green hydrogen mobility project. Additionally, NTPC launched a solar-hydrogen microgrid project for the Indian Army in Ladakh, providing 200 kilowatts of power year-round.
Regarding the various awards received by us in the Q3 of FY '25, Aravali Power Company Private Limited, a joint venture of our company, received the first prize at the Fifth National Water Awards 2023 for water management and water conservation. NTPC was conferred the first Runner-Up in 2024 UN Women's initiative, WEP, award in the category community engagement and partnership for its flagship CSR Project, Girl Empowerment Mission.
NTPC was confirmed with CSR Awards in the category Swachh Bharat Sanitation and Hygiene at the 12th National CSR Summit 2024 for Municipal Solid Waste Plant Project at Karsada, Varanasi. NTPC also won five DX 2024 CII Awards for Best Practices in Digital Transformation.
NTPC has been recognized as one of the Progressive Places to Work 2024 in the ET NOW Progressive Places to Work 2024 events.
NTPC received 4 awards in the PSE category at the SHRM HR Excellence Awards for excellence in Developing Emerging Leaders, Benefits and Wellness, Learning and Development and Community Impact.
These were some of the key highlights I wanted to share before we begin the question-and-answer session. Thank you, and over to you.
