NTPC Financial Statements

Name: NTPC Financials — historical data
Creator: StockeZee

For Mar 2026, NTPC reported revenue of ₹1,87,385 crore and net profit of ₹27,053 crore. Return on equity stands at 14.00%. Profit & loss, balance sheet and cash flow across 8 reported years are below.

Updated 31 Jul 2026Source: NSE & BSE company filingsNifty 50 constituent

Latest year revenue: ₹1,87,385 Cr
EBITDA: ₹55,286 Cr
Operating margin: 29.5%
Profit after tax: ₹27,053 Cr
Net margin: 14.44%
EPS: ₹27.9
Latest year: Mar 2026
Years reported: 8

NTPC profit & loss

Reported annual performance for NTPC, oldest to newest. Figures in ₹ crore unless a row states otherwise.

NTPC annual profit and loss statement. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue from Operations	95,742	1,09,464	1,11,531	1,32,669	1,76,207	1,78,501	1,88,138	1,87,385
Sales Growth YoY %	—	14.33%	1.89%	18.95%	32.82%	1.3%	5.4%	-0.4%
Other Income	1,795	2,909	4,016	2,325	1,770	2,665	2,724	2,414
Total Income	97,537	1,12,373	1,15,547	1,34,994	1,77,977	1,81,166	1,90,862	1,89,799
Cost of Goods Sold (COGS)	53,834	57,186	56,099	69,753	1,00,656	98,312	1,01,515	92,490
Cost of Materials Consumed	53,834	57,186	56,099	69,753	1,00,656	98,312	1,01,515	92,490
Gross Profit	41,908	52,278	55,432	62,916	75,551	80,189	86,623	94,895
Gross Margin %	43.77%	47.76%	49.7%	47.42%	42.88%	44.92%	46.04%	50.64%
Total Operating Expenses	17,799	20,742	21,458	22,637	27,822	29,096	32,496	39,609
Employee Benefit Expense	4,908	5,830	5,954	6,310	6,528	6,592	6,796	6,986
Other Expenses	12,891	14,911	15,504	16,327	21,294	22,504	25,700	32,623
EBITDA	24,110	31,537	33,974	40,280	47,729	51,093	54,128	55,286
OPM %	25.18%	28.81%	30.46%	30.36%	27.09%	28.62%	28.77%	29.5%
Total Non-Operating Expenses	12,949	18,473	20,162	23,104	25,948	28,252	30,569	33,430
Depreciation & Amortisation	7,688	10,356	12,450	13,788	14,792	16,204	17,401	19,629
Finance Costs	5,261	8,117	9,224	9,316	11,156	12,048	13,168	13,801
Exceptional Items (Before Tax)	0	0	-1,512	0	0	0	0	0
Profit Before Tax (PBT)	12,956	15,972	14,803	19,501	23,551	25,506	26,283	24,269
Tax Expense	-3,206	9,348	2,421	5,047	6,796	6,809	8,245	-2,876
Current Tax	2,916	5,527	1,091	3,758	4,856	4,296	4,071	4,534
Deferred Tax	-6,123	3,821	1,329	1,289	1,940	2,513	4,174	-7,410
Effective Tax %	-24.75%	58.52%	16.35%	25.88%	28.86%	26.7%	31.37%	-11.85%
Total Profit for Period	12,633	11,902	14,969	16,960	17,121	21,332	23,953	27,546
Less: Non-controlling Interests	-7	302	335	284	209	521	531	493
Net Profit (Owner's PAT)	12,640	11,600	14,635	16,676	16,913	20,812	23,422	27,053
Net Profit Margin %	13.2%	10.6%	13.12%	12.57%	9.6%	11.66%	12.45%	14.44%
PAT Growth YoY %	—	-8.23%	26.16%	13.95%	1.42%	23.06%	12.54%	15.5%
Earnings Per Share (EPS)	₹12.77	₹11.72	₹15.09	₹17.2	₹17.44	₹21.46	₹24.16	₹27.9
Diluted Shares Outstanding (Cr.)	989	989	970	970	970	970	970	970
Profit/Loss from Associates	672	405	684	1,020	780	1,636	2,214	2,864
Other Comprehensive Income (Net of Tax)	-191	-308	-99	-87	-203	-25	-330	42
Expenses	84,581	96,400	1,00,744	1,15,494	1,54,426	1,55,660	1,64,580	1,65,529
Material Cost %	56.23%	52.24%	50.3%	52.58%	57.12%	55.08%	53.96%	49.36%
Employee Cost %	5.13%	5.33%	5.34%	4.76%	3.7%	3.69%	3.61%	3.73%
Other Cost %	13.46%	13.62%	13.9%	12.31%	12.08%	12.61%	13.66%	17.41%
Interest Coverage (x)	3.12	2.61	2.33	2.84	2.95	2.9	2.79	2.58

NTPC revenue and profit trend

Reported annual revenue and net profit, oldest to newest. Two panels because the two measures live on different scales — one shared axis would distort both.

NTPC balance sheet

Assets, liabilities and shareholders' equity as reported, in Schedule III order. Figures in ₹ crore unless a row states otherwise.

NTPC annual balance sheet with assets, liabilities and equity. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Equity	1,10,702	1,22,156	1,29,262	1,39,134	1,50,954	1,65,122	1,91,123	2,11,153
Equity Share Capital	9,895	9,895	9,697	9,697	9,697	9,697	9,697	9,697
Reserves & Surplus	1,00,142	1,08,945	1,16,042	1,25,677	1,37,327	1,51,013	1,74,374	1,93,479
Equity Method Investments	8,008	9,256	9,992	10,522	13,252	15,131	19,024	23,555
Total Equity	1,10,702	1,22,156	1,29,262	1,39,134	1,50,954	1,65,122	1,91,123	2,11,153
Non-Current Liabilities	1,44,590	1,86,279	1,96,368	1,98,512	2,07,582	2,12,719	2,28,539	2,29,740
Long-term Borrowings	1,37,793	1,76,020	1,81,272	1,81,871	1,87,884	1,90,215	2,01,054	2,07,664
Deferred Tax Liabilities	4,200	7,617	9,888	10,952	12,690	15,232	18,999	10,568
Non-Current Provisions	589	1,169	1,042	1,655	1,918	2,084	2,139	2,534
Other Non-Current Liabilities	—	—	1,996	1,927	2,612	2,810	3,364	3,954
Non-Current Financial Liabilities	1,39,801	1,77,493	1,83,441	1,83,978	1,90,363	1,92,593	2,04,038	2,12,684
Current Liabilities	59,730	64,338	71,073	76,592	84,535	98,404	1,01,073	1,14,505
Short-term Borrowings	15,995	16,556	15,965	27,684	31,922	44,825	46,521	59,595
Trade Payables	8,518	10,109	8,726	11,277	13,822	11,338	11,160	11,787
Current Financial Liabilities	51,666	55,312	60,992	66,698	74,143	89,361	91,197	1,04,959
Other Current Financial Liabilities	27,154	28,647	36,301	27,736	28,399	33,198	33,516	33,577
Other Current Liabilities	881	1,737	1,950	1,878	2,089	1,980	2,120	2,254
Current Provisions	7,150	7,288	8,114	7,876	8,217	7,060	7,717	7,262
Current Tax Liabilities	33	2	18	141	86	3	39	31
Total Liabilities	2,06,695	2,55,231	2,69,704	2,77,383	2,95,068	3,15,074	3,33,042	3,47,491
Total Non-Current Assets	2,68,480	3,11,084	3,30,596	3,45,123	3,64,853	3,82,187	4,12,382	4,49,310
Property, Plant & Equipment (PPE)	1,37,491	1,87,176	2,02,598	2,24,344	2,39,883	2,58,424	2,70,936	3,17,671
Capital Work-in-Progress	1,06,380	98,211	97,404	91,025	89,133	87,593	1,00,776	84,833
Intangible Assets	331	626	647	579	542	510	501	1,025
Non-Current Investments	92	50	97	104	633	704	630	575
Loans – Non-Current	434	511	555	560	554	570	823	766
Other Non-Current Assets	14,044	13,727	17,032	15,874	16,334	16,016	17,956	19,033
Non-Current Financial Assets	1,829	1,789	1,745	1,682	4,726	3,272	2,162	2,478
Net Fixed Assets	2,44,201	2,86,014	3,00,649	3,15,948	3,29,558	3,46,526	3,72,212	4,03,529
Total Current Assets	45,499	56,906	56,817	58,195	68,499	83,036	92,892	94,345
Inventories	8,119	11,139	9,810	10,139	14,240	18,019	18,722	18,663
Trade Receivables	10,148	20,371	17,718	27,342	28,825	33,350	34,720	36,616
Cash & Cash Equivalents	209	590	950	728	466	863	1,427	3,422
Current Investments	—	—	500	—	50	50	50	50
Loans – Current	238	253	259	270	269	271	298	1,845
Current Financial Assets	21,975	36,866	37,856	38,446	43,005	53,731	65,224	66,346
Other Current Assets	15,404	8,819	9,087	9,547	11,160	11,239	8,866	9,152
Other Current Financial Assets	8,807	13,028	14,991	6,375	8,912	13,213	18,699	19,831
Assets Held for Sale	—	—	—	—	121	118	160	160
Current Tax Assets	—	83	65	63	94	47	80	184
Net Working Capital	-14,231	-7,432	-14,256	-18,398	-16,036	-15,369	-8,182	-20,160
Additional Asset Fields	6,458	17,329	18,416	20,234	20,367	24,390	30,156	26,641
Def Tax Assets	—	—	1,076	996	938	1,170	944	590
Non Controlling Int	665	3,317	3,524	3,760	3,930	4,413	7,052	7,977
Reg Def Credit	2,375	4,614	2,263	2,278	2,950	3,951	3,429	3,245
Reg Def Debit	3,418	9,398	11,553	13,199	12,549	14,856	18,731	14,829
Total Assets	3,17,396	3,77,387	3,98,966	4,16,517	4,46,021	4,80,197	5,24,165	5,58,644
Total Borrowings	1,53,787	1,92,576	1,97,237	2,09,555	2,19,805	2,35,040	2,47,575	2,67,258
Net Debt	1,53,578	1,91,987	1,96,287	2,08,827	2,19,340	2,34,177	2,46,149	2,63,837
Debt to Equity (x)	1.39	1.58	1.53	1.51	1.46	1.42	1.3	1.27
Current Ratio (x)	0.76	0.88	0.8	0.76	0.81	0.84	0.92	0.82

NTPC cash flow statement

Cash generated and used across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.

NTPC annual cash flow statement across operating, investing and financing activities. Figures in ₹ crore unless a row states otherwise.
Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Cash from Operating Activities	41,788	40,052	40,785	50,436	50,902
Profit Before Tax	19,501	23,551	25,506	26,283	24,269
Depreciation & Amortisation	13,788	14,792	16,204	17,401	19,629
Finance Costs	9,239	11,092	11,955	13,048	13,653
Working Capital Changes	1,944	-6,259	-9,033	-1,440	-2,171
Tax Paid	-2,073	-4,076	-3,643	-4,314	-3,584
Net Cash from Investing Activities	-22,838	-26,107	-32,141	-45,800	-37,578
Purchase of PPE	-24,444	-24,819	-30,816	-41,283	-44,050
Sale of Fixed Assets	613	98	75	278	43
Interest Received	1,326	577	631	768	933
Net Cash from Financing Activities	-19,172	-14,154	-8,246	-4,073	-11,328
Proceeds from Borrowings	27,237	32,669	37,576	42,232	50,750
Repayment of Borrowings	-26,514	-24,524	-22,440	-29,113	-35,583
Interest Paid	-12,733	-14,822	-15,832	-17,874	-17,538
Dividend Paid	-7,107	-7,248	-7,419	-8,207	-8,759
Buyback / Redemption of Shares	0	0	0	0	0
Lease Liabilities Paid	-55	-230	-131	0	-210
Net Change in Cash	-222	-210	398	563	1,995
Effect of Foreign Exchange Changes	0	0	0	0	0
Free Cash Flow	17,344	15,233	9,969	9,153	6,852
CFO / PBT (x)	2.14	1.7	1.6	1.92	2.1

NTPC key ratios

Valuation, profitability, return, leverage and per-share measures computed from reported statements — not from adjusted or normalised earnings.

NTPC valuation, profitability, return and leverage ratios
Ratio	Category	Value
P/E (TTM)	Valuation	12.03
Forward P/E	Valuation	12.91
P/B	Valuation	1.64
PEG (TTM)	Valuation	0.69
EV / EBITDA (TTM)	Valuation	7.38
P/S (TTM)	Valuation	1.75
Operating margin	Profitability	28.2%
Net margin (TTM)	Profitability	15.38%
Return on equity	Return ratios	14%
Return on capital employed	Return ratios	8.33%
Return on assets	Return ratios	4.12%
Debt to equity	Leverage & liquidity	1.33
Beta	Leverage & liquidity	1.06
EPS (TTM)	Per share	₹32.7
Book value	Per share	₹209.44
Revenue / share (TTM)	Per share	₹198.45
Cash flow / share	Per share	₹52.49
Dividend yield	Shareholder returns	3.6%
Dividend payout (TTM)	Shareholder returns	29.07%

How this is calculated

Statements are as filed with the exchanges. Consolidated figures are shown where reported. Figures are in rupees crore unless the table states otherwise. Ratios are computed from the same reported statements, not from adjusted or normalised earnings.

Index membership reflects the Nifty 100 as published by NSE Indices, effective 2026-03-30.

NTPC: frequently asked questions

What is NTPC's annual revenue?

NTPC reported revenue of ₹1,87,385 crore in Mar 2026, down 0.4% on the previous financial year.

Is NTPC profitable?

NTPC reported a net profit of ₹27,053 crore in Mar 2026, up 15.5% on the previous financial year.

What is NTPC's EPS?

NTPC reported earnings per share of ₹27.9 for Mar 2026.

What is NTPC's operating margin?

NTPC's operating margin for Mar 2026 was 29.50%.

What is NTPC's return on equity?

NTPC's return on equity stands at 14.00%. ROE measures profit generated per rupee of shareholder equity.

How many years of NTPC financials are shown?

8 reported financial years are tabulated on this page, the most recent being Mar 2026.

Are these figures consolidated or standalone?

Consolidated figures are shown wherever the company reports them, and standalone otherwise. The basis in use is labelled on the statement table.

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Disclaimer

The data, ratios and commentary about NTPC Ltd (NTPC) on this page are published for educational and informational purposes only and are not investment, legal or tax advice. StockeZee is not a SEBI-registered investment adviser, research analyst or portfolio manager, and no content here should be construed as a recommendation to buy, hold or sell any security. Live and historical market data may be delayed, revised by the exchanges, or contain errors; figures sourced from third-party feeds and corporate disclosures may not always be current. Past performance is not indicative of future results, and equity investments carry the risk of capital loss. Before acting on anything you read here, please consult a SEBI-registered financial advisor and read all scheme-related documents carefully.