NSE: NTPC | BSE: 532555

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338.75 -4.60 (-1.34%)

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NSE 20 Jan, 2026 3:53 PM (IST)

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NTPC Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NTPC, BSE:532555 NTPC Ltd.

NTPC Ltd.

05 Feb 2018

338.75

-1.34%

NTPC - 3QFY18 Result Update

NTPC Ltd.

Reliance Securities

NTPC Ltd. has an average target of 396.00 from 6 brokers.

NTPC Ltd.

02 Feb 2018

338.75

-1.34%

NTPC reported weak Q3FY18 results that were below our estimates. Reported revenues came in at | 20,774 crore vs. estimate of | 20,902 crore. Lower revenues were on account of lower realisations per unit (| 3.2 per unit vs. expectation of | 3.3 per unit). The company generated 63.3 billion units (BU) in Q3FY18 vs. our estimate of 63 BU. Plant load factor (PLFs) of coal plants was at 76.9% vs. 77.2% in Q3FY17. The plant availability factor (PAF) for coal based plants was at 83% while the same was at 94.5% for Q3FY18...

Number of FII/FPI investors decreased from 818 to 812 in Dec 2025 qtr

NTPC Ltd.

31 Jan 2018

338.75

-1.34%

NTPC: Fix ed cost under-recoveries on coal shortage

Buy: NTPC Ltd.

Motilal Oswal

NTPC's standalone (S/A) 3QFY18 adj. PAT declined ~5% YoY to INR21.3b, despite ~19% YoY increase in regulated equity to INR505b. It missed our estimate due to INR5.4b under-recovery of fixed cost. Average plant availability at 83% dipped below the normative 85% due to shortage of coal at Kudgi, Solapur and Mouda. Reported PAT at INR23.6b was impacted by INR2.4b in accelerated leave encashment, offset by a gain of INR5.6b on reversal of prior-period tax. Kudgi-U2 800MW and Bongaigaon U2-250MW were commercialized in 3QFY18. 1.6GW (Kudgi-U3 800MW and Lara-U1 800MW) in S/A and Meja 660MW in JV will be commissioned in 4QFY18.

Number of FII/FPI investors decreased from 818 to 812 in Dec 2025 qtr

NTPC Ltd.

27 Dec 2017

338.75

-1.34%

NTPC: Revised norms provide relief from low PLF inefficiencies

Buy: NTPC Ltd.

Motilal Oswal

Higher plant load factor (PLF) not only drives incentive income, but also generates efficiency earnings through lower auxiliary and oil consumption, as well as a better station heat rate (SHR). We note that as PLF declines, the operating parameters deteriorate, impacting incentives and leading to under-recovery in fuel cost. Average PLF of coal-based plants declined from ~82% in FY14 to ~79% in FY17. Notably, three plants had PLF of less than 75% in FY14, which increased to five plants in FY17(Exhibit 1). This is due to a confluence of (a) increase in overcapacity in the country and (b) addition of new plants ??? Mouda and Barh -away from coalmines, with relatively uncompetitive fuel cost. The impact of lower PLF was recently quantified in case of Mouda I & II plant. It operated at PLF of ~64% from May to October 2017, which is lower than the design norms, resulting in fuel cost under-recovery of ~INR329m (annualized, it is ~1-2% of the regulated equity of the plant), in addition to the lost opportunity of earning incentives (Exhibit 2).

NTPC Ltd. has an average target of 396.00 from 6 brokers.

NTPC Ltd.

17 Nov 2017

338.75

-1.34%

Result Update:NTPC

Buy: NTPC Ltd.

Axis Direct

Q2FY18 adjusted PAT grew 12% YoY at Rs 27 bn (vs. our estimate Rs 26 bn) in tandem with 17% YoY rise in regulated equity. Core RoE is still healthy at 20.2% though it contracted ~174 bps YoY due to under-recovery in fuel cost. Company clocked highest-ever quarterly commercial capacity addition of 3.

Number of FII/FPI investors decreased from 818 to 812 in Dec 2025 qtr

NTPC Ltd.

16 Nov 2017

338.75

-1.34%

NTPC - 2QFY18 Result Update

Buy: NTPC Ltd.

Reliance Securities

Higher Regulated Equity to Aid Profitability; Maintain BUY NTPC has delivered a decent performance in 2QFY18 as well. Its PAT adjusting for prior periods and reversals (net of tax in 2QFY17) grew by 19.8% YoY to Rs28.4bn led by regulated equity growth, efficiency gains and higher PLF incentive. Looking ahead, we expect NTPC's business to improve further backed by higher capacity commercialisation, better fuel availability and likely improvement in demand owing to UDAY scheme. We reiterate our BUY recommendation on the stock with an unrevised Target Price of Rs192. Net Sales Up 1.3% YoY; Reported PAT Dips 2.3% YoY...

NTPC Ltd. is trading above all available SMAs

NTPC Ltd.

14 Nov 2017

338.75

-1.34%

NTPC India

Hold: NTPC Ltd.

ICICI Securities Limited

NTPC reported Q2FY18 results, which were ahead of expectations operationally, given higher EBITDA led to beat on the reported PAT coupled with lower-than-excepted other income Adjusted revenues came in at | 19996.5 crore vs. estimate of | 19533.8 crore. The key reason for the beat was higher tariff of | 3.31/kWHR compared to expectation of | 3.23/kWHR. Q2FY18 also witnessed strong generation growth of 7.4% YoY to 65.04 billion units (BU) whereas the energy sold grew 7.1% YoY to 60.48 BU...

NTPC Ltd. is trading above all available SMAs

NTPC Ltd.

13 Nov 2017

338.75

-1.34%

NTPC

Buy: NTPC Ltd.

JM Financial

2Q18 Core RoE at 22% on adj. profits; 2.6GW commercialised NTPC's 2Q18 adjusted net profit stood at INR 29bn (+15% YoY) due to a) reversal of FY17 sales in Barh II (INR 4bn) due to regulatory disputes and b) wage provsioning of INR 2bn whih is yet to be approved by CERC. NTPC added 2.62GW of commecial capacity, however this is yet to reflect in earnings growth as they came in at the fag end of the quarter. Core RoEs (on regulated equity) came in at 22% on adjusted profits. We expect NTPC to add 4-5GW annually in FY18 and FY19 based on CEA timelines of plant execution. Thus NTPC is set to add c40% of its existing base and almost double its regulated equity base in next 2-3years....

NTPC Ltd. has an average target of 396.00 from 6 brokers.

NTPC Ltd.

29 Aug 2017

338.75

-1.34%

NTPC Ltd

Mgmt Note: NTPC Ltd.

Angel Broking

NTPC is Indias largest power producer with an installed capacity of 51 GW, accounting for ~16% share in overall capacity. In addition to this the company has ~21 GW under construction. The NTPC group contributed 24% to all Indias generation during FY17. Over FY11-17 the company added nearly 16 GW of capacity. Valuations & View: The fl..

Number of FII/FPI investors decreased from 818 to 812 in Dec 2025 qtr

Is NTPC Ltd. worth buying?

1417 Votes:

Buy 79.39%

Sell 9.88%

Hold 10.73%

RESEARCH REPORTS

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