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NTPC Limited reported a steady standalone Q1FY27 performance

ICICIdirect Research 27 Jul 2026 DISCLAIMER

News: NTPC Limited reported a steady standalone Q1FY27 performance, with revenue from operations increasing 3.0% YoY to ₹43,832 crore. Commercial generation increased 2.8% YoY to 93.6 BU, while energy sent out (ESO) rose 2.8% YoY to 86.9 BU. Coal PLF improved to 76.7% from 75.2% in Q1FY26. EBITDA grew 22.8% YoY to ₹12,629 crore, with EBITDA margin expanding 460 bps YoY to 28.8%. PAT increased 11.9% YoY to ₹5,342 crore, while PAT margin improved to 12.2% from 11.2% in Q1FY26. During the quarter, the NTPC Group added 1,796 MW of capacity, taking total installed capacity to 90.9 GW, including 726 MW of renewable capacity additions. 

View: NTPC delivered a steady quarter, supported by higher thermal generation, improved coal PLF and continued margin expansion. Growth visibility remains robust with 35.7 GW of capacity under construction, comprising 15.7 GW of thermal, 16.4 GW of renewable and 3.6 GW of hydro capacity. The company continues to strengthen its long-term growth pipeline through expansion in renewables, pumped storage, battery energy storage systems (BESS) and nuclear power, while execution of the under-construction projects and timely commissioning remain key monitorables.  

Impact: Positive

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