A completely owned subsidiary of NTPC Limited, NTPC Green Energy’s shares have been steadily rising since its recent Dalal Street launch. On December 4, the stock surged 9.3% more in today’s trading, hitting a new all-time high of ₹155.35 a share.
The stock reached its first circuit limit since listing when it hit the 10% upper circuit restriction during the previous trading session. Although the stock made a quiet debut on the stock exchanges on November 27, it gained strength in the subsequent trading sessions and is currently trading at an all-time high of 44% above its IPO price of ₹108.
Analysts have given the stock a bullish outlook since it was listed, highlighting the company’s sound fundamentals and its dominant position in India’s renewable energy market.
A ₹10,000 crore issuance was made available for subscription by the corporation between November 19 and November 22. Due to the high level of demand, the offer was subscribed to 2.55 times.
According to a CRISIL report published in November 2024, NTPC Green is the biggest renewable energy public sector company (apart from hydro) in terms of operating capacity as of September 30, 2024, and power generation in fiscal 2024.
In order to reduce the risk of location-specific generation unpredictability, its renewable energy portfolio includes both solar and wind power assets spread across numerous locations in more than six states. As of September 30, 2024, it operated 3,220 MW of solar projects and 100 MW of wind projects in six states.
3,320 MW of active projects and 13,576 MW of contracted and awarded projects made up its 16,896 MW portfolio as of September 30, 2024. Together with its portfolio, its capacity under the pipeline was 26,071 MWs. It included 11 wind and 41 solar projects with 17 off-takers.
The company’s strategic focus is on building a portfolio of renewable energy projects at the utility-scale, as well as projects for Indian corporations and public sector undertakings (PSUs).
As of September 30, 2024, its portfolio and under-pipeline capacity totaled 26,071 MWs. The operating income of NTPC Green Energy increased from ₹910.42 crores in fiscal 2022 to ₹1,962.60crorese in fiscal 2024 at a compound annual growth rate (CAGR) of 46.8per centnt.
From ₹794.89 crores in fiscal 2022 to ₹1,746.47 crores in fiscal 2024 (on a restated basis), its operating EBITDA increased at a CAGR of 48.23 per cent. From 94.74 crore in fiscal 2022 to 344.72 crore in fiscal 2024, its profit after tax increased at a compound annual growth rate (CAGR) of 90.75per centt.
Operational revenue was ₹1,082 crore for the six months that ended on September 30, 2024, while profit after tax was ₹1,75.30 crore.
