NTPC Q4 Review - Underlying Numbers In-Line, Aided By Late Payment Surcharge: Motilal Oswal

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Motilal Oswal Report

NTPC Ltd.’s Q4 FY21 results highlight a steady performance given the regulated business and aided by other income.

Standalone adjusted profit after tax (excluding fixed-charge under-recoveries) was up 17% YoY to Rs 38.6 billion.

The company has ramped up its longer term renewable energy capacity target to 60 gigawatt by 2032 (earlier: 32GW).

While this may seem ambitious (implying 5–5.5GW per annum of renewable energy additions over the next 11 years), the company has taken steps to improve its renewables footprint.

~3GW of renewable capacities are under construction and expected to be commissioned over the next two years.

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