Power · NSE/BSE: NTPCGREEN
NTPC Green Energy Limited
Power Generation
Market Cap ₹0.83L Cr
Verdict: Average
Quality Scores
Multi-Bagger
68/100
Compounder Quality
81/100
Management Credibility
92/100
Governance
94/100
Cash Flow Quality
82/100
AI Summary
NTPC Green Energy Limited (NGEL) is a young, high-growth renewable energy subsidiary of India's largest power utility, NTPC Ltd. Incorporated in 2022, the company has rapidly scaled its portfolio, becoming the largest renewable energy PSU in India (excluding hydro) by late 2024. The operational capacity sits at approximately 10.67 GW as of mid-2026, driven by aggressive solar and wind deployments supported by long-term Power Purchase Agreements (PPAs). While revenue and operating profits show explosive growth, the business remains in a capital-intensive build-out phase. High valuation…
Top Opportunities
- Largest renewable energy PSU in India (ex-hydro)
- Strong parentage and support from NTPC Limited
- Stable revenue visibility through long-term PPAs
Top Risks
- Extremely high valuation (Stock P/E ~160x)
- Low return on equity (ROE 2.79%)
- Low return on capital employed (ROCE 3.53%)
Latest report: Read the annual report summary →
Unlock the full report
Full sections, financial charts, AI chat and PDF export are available with Premium.