Valuation NTPC Ltd

Equities

NTPC

INE733E01010

Independent Power Producers

Delayed NSE India S.E. Other stock markets 06:11:01 14/01/2026 pm IST			5-day change	1st Jan Change
349.10 ^INR	+3.31%		-0.48%	+5.93%

14/01	Indian Equities End Lower on Persisting Trade Worries	MT
14/01	FOR COILY - Indian Equities End Lower on Persisting Trade Worries	MT

Company Valuation: NTPC Ltd

Data adjusted to current consolidation scope

Fiscal Period: March	2021	2022	2023	2024	2025	2026	2027	2028
Capitalization ¹	10,33,180	13,09,050	16,97,886	32,56,140	34,67,528	33,85,106	-	-
Change	-	26.7%	29.7%	91.78%	6.49%	-2.38%	-	-
Enterprise Value (EV) ¹	26,50,689	29,90,965	35,10,445	50,62,325	52,72,178	52,02,594	53,91,681	52,66,209
Change	-	12.84%	17.37%	44.21%	4.15%	-1.32%	3.63%	-2.33%
P/E ratio	7.62x	8.12x	9.88x	19.2x	17.7x	16.2x	14.4x	13.6x
PBR	0.87x	1.02x	1.22x	2.17x	2.15x	1.89x	1.75x	1.65x
PEG	-	0.4x	1.48x	-13.62x	1.1x	2.64x	1.2x	2.09x
Capitalization / Revenue	1.04x	1.13x	1.04x	2.01x	2.04x	1.9x	1.76x	1.66x
EV / Revenue	2.67x	2.58x	2.14x	3.13x	3.1x	2.92x	2.81x	2.58x
EV / EBITDA	9.2x	8.84x	8.12x	11.7x	11.6x	10.9x	10.5x	9.8x
EV / EBIT	14.4x	13.2x	11.7x	17.3x	17.4x	15.7x	15.4x	14.3x
EV / FCF	30.3x	17x	19.4x	29.1x	25.9x	32.6x	36.7x	32.4x
FCF Yield	3.3%	5.88%	5.15%	3.43%	3.86%	3.07%	2.72%	3.08%
Dividend per Share ²	6.15	7	7.25	7.75	8.35	9.023	9.592	10.57
Rate of return	5.77%	5.19%	4.14%	2.31%	2.34%	2.58%	2.75%	3.03%
EPS ²	13.99	16.62	17.73	17.48	20.26	21.5	24.17	25.74
Distribution rate	44%	42.1%	40.9%	44.3%	41.2%	42%	39.7%	41%
Net sales ¹	9,92,067	11,61,373	16,37,698	16,19,850	17,00,374	17,81,508	19,21,151	20,39,231
EBITDA ¹	2,88,034	3,38,457	4,32,284	4,31,824	4,53,732	4,77,191	5,11,696	5,37,100
EBIT ¹	1,83,916	2,26,116	3,00,917	2,92,392	3,03,173	3,31,161	3,50,313	3,67,085
Net income ¹	1,37,695	1,61,114	1,71,967	1,80,794	1,96,494	2,06,432	2,21,445	2,36,346
Net Debt ¹	16,17,509	16,81,915	18,12,559	18,06,184	18,04,650	18,17,488	20,06,575	18,81,103
Reference price ²	106.55	135.00	175.10	335.80	357.60	349.10	349.10	349.10
Nbr of stocks (in thousands)	96,96,666	96,96,666	96,96,666	96,96,666	96,96,666	96,96,666	-	-
Announcement Date	19/06/21	20/05/22	19/05/23	24/05/24	24/05/25	-	-	-

¹INR in Million²INR

Estimates

P/E ratio, Detailed evolution

Sector Comparison:

Add to a list 0 selected To use this feature you must be a member Log in Sign up	P/E (Y)	EV / Sales (Y)	EV / EBITDA (Y)	Dividend Yield (Y)	Capi.($)
NTPC LTD	15.87x	2.87x	10.69x	2.74%	3.63TCr
ADANI POWER LIMITED	22.76x	5.53x	14.89x	-	3.06TCr
TALEN ENERGY CORPORATION	81.4x	9.77x	24.14x	-.--%	1.72TCr
SDIC POWER HOLDINGS CO., LTD	14.51x	4.83x	9.55x	3.97%	1.54TCr
CHINA RESOURCES POWER HOLDINGS COMPANY LIMITED	6.53x	2.89x	7.25x	6.1%	1.2TCr
HUADIAN POWER INTERNATIONAL CORPORATION LIMITED	8.52x	1.37x	7.77x	5.05%	805.88Cr
CAPITAL POWER CORPORATION	35.88x	4.56x	10.17x	4.39%	685.55Cr
HUBEI ENERGY GROUP CO., LTD.	12.46x	-	-	-	467.83Cr
NLC INDIA LIMITED	13.29x	-	-	-	391.82Cr
Average	23.47x	4.54x	12.07x	3.71%	1.5TCr
Weighted average by Cap.	25.19x	4.69x	12.86x	3.18%