A fundamental analysis of NTPC Ltd. (NTPC) covering revenue trends, profitability, valuation, and shareholding patterns.
NTPC Revenue Trend
For FY2025, NTPC Ltd. recorded revenue of ₹1,90,862 Cr. That's 5.4% higher than the ₹1,81,165 Cr it brought in during FY2024.
The 10-year revenue CAGR of 9.0% reflects steady — if not spectacular — top-line expansion from ₹80,622 Cr to ₹1,90,862 Cr.
NTPC Ltd. is a major power company by revenue, with a top line of ₹1,90,862 Cr.
It's been 9 years of continuous revenue growth for NTPC Ltd. — a pattern worth noting.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹1,90,862 Cr | +5.4% |
| FY2024 | ₹1,81,165 Cr | +1.8% |
| FY2023 | ₹1,77,977 Cr | +31.8% |
| FY2022 | ₹1,34,994 Cr | +16.8% |
| FY2021 | ₹1,15,546 Cr | — |
View NTPC Ltd.'s full 10-year revenue trend with CAGR analysis →
NTPC Profitability
NTPC Ltd.'s bottom line improved to ₹23,953 Cr in FY2025, a 12.3% increase over the prior year.
Margins moved in the right direction, with net margin rising to 12.5% from 11.8%.
FY2025 diluted EPS of ₹24.16 was up from the ₹21.46 reported in FY2024.
Is NTPC Undervalued
Based on the P/E Ratio model, NTPC Ltd.'s fair value works out to ₹328 — 10.5% downside from where it trades today.
NTPC Ltd. shares are currently trading at ₹366.80.
Craytheon also calculates intrinsic value using the EPS Growth model. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹328 | 10.5% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for NTPC Ltd. with detailed assumptions →
NTPC Shareholding Pattern
The promoter group has maintained its 51.1% holding through the last 4 quarters.
Foreign institutions moved their stake up to 16.6% from 16.1% over the past year.
DII holding is at 29.1%, up from 28.9% in the year-ago quarter.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 51.1% | 16.6% | 29.1% | 3.1% |
| Dec 2025 | 51.1% | 16.2% | 29.2% | 3.3% |
| Sep 2025 | 51.1% | 16.4% | 28.9% | 3.4% |
| Jun 2025 | 51.1% | 16.1% | 28.9% | 3.8% |
Track quarterly shareholding changes for NTPC Ltd. →
NTPC Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
In FY2025, the total asset base came in at ₹5,241.65B, up 9.2% YoY from ₹4,801.97B.
Property, Plant & Equipment accounts for 70.9% of the total, ahead of Other Assets (12.8%) and Receivables (6.6%).
Capital structure: 36.5% equity, 47.7% debt, 15.8% operating liabilities. Over the year, debt is up 5.5% and equity is up 15.7%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 115.07B |
| Receivables | 347.20B |
| Inventories | 187.22B |
| Property, Plant & Equipment | 3,717.12B |
| Investments | 196.54B |
| Intangibles & Goodwill | 5.84B |
| Other Assets | 672.65B |
| Category | Value |
|---|---|
| Equity | 1,911.23B |
| Short-term Debt | 468.60B |
| Long-term Debt | 2,032.36B |
| Trade Payables | 111.60B |
| Other Liabilities | 717.86B |
NTPC at a Glance
Bringing the key threads together for NTPC Ltd. (NTPC) as a power investment opportunity.
Revenue of ₹1,90,862 Cr in FY2025, up 5.4% year-over-year.
Long-term revenue has been compounding at 9.0% annually over 10 years.
The company is profitable, with a net margin of 12.5% and net income of ₹23,953 Cr.
The P/E Ratio model implies 10.5% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
Unlock Full Analysis
For the complete 10-year financial history with interactive charts and growth analysis, explore NTPC Ltd.'s detailed profile on Craytheon.