NTPC Limited, India’s largest power utility, has shown strong financial performance, significant capacity expansion, and renewable energy and nuclear power initiatives. The company achieved record highs in market capitalisation, profit, and electricity generation while advancing its commitment to sustainability and innovation. Here’s a detailed look at NTPC’s achievements and plans.
Financial Performance
In FY 2023-24, NTPC reported a consolidated profit after tax (PAT) of Rs 213.32 billion, a 25% increase from the previous year. The company’s total income for the year stood at Rs 1,657.07 billion. NTPC’s market capitalisation reached an all-time high of Rs 3,490 billion, and its stock price rose by about 90%, reaching a record high of Rs 426 on August 2, 2024. For the first quarter ending June 2024, NTPC’s income was Rs 489.82 billion, with a profit of Rs 54.74 billion. The debt-to-equity ratio stands at 1.24, indicating a strong financial position.
Operational Performance
NTPC generated 422 billion units (BU) of electricity in FY 2023-24, a 6% increase year-on-year, and added 3,924 MW of capacity, bringing the total to 76 GW across coal and renewable sources. The company achieved its highest-ever single-day generation of 1,428 Million Units (MU) on September 1, 2023. NTPC’s plant load factor (PLF) was 77%, higher than the national average of 68.44%. The company’s thermal capacity is spread across 24 stations with 154 units, while its hydro capacity is generated from 8 stations with 24 units. NTPC’s renewable energy portfolio includes solar PV projects at 11 locations and wind power projects at 5 locations.
Growth Over Five Years
From 2018 to 2023, NTPC expanded its capacity from 50 GW to 76 GW, achieving a CAGR of approximately 8.73%. Electricity generation grew from 300 BU in 2018 to 422 BU in 2023, a CAGR of about 7.06%. The company’s revenue increased from Rs 0.91 billion in 2018 to Rs 1.60 billion in 2023, with a CAGR of approximately 12.07%. PAT rose from Rs 95 million in 2018 to Rs 0.16 billion in 2023, reflecting a CAGR of about 10.99%.
Key Projects and Initiatives
In February 2024, NTPC inaugurated projects worth over Rs 280 billion, including the Darlipali Super Thermal Power Station (2×800 MW), NSPCL Rourkela PP-II Expansion Project (1×250 MW), and NTPC Talcher Thermal Power Project, Stage-III (2×660 MW). The company also commissioned the first phase (160 MW) of the Bhainsara solar PV project in Jaisalmer, Rajasthan. NTPC is expanding into nuclear energy by establishing NTPC Nuclear Power Company, a 100% subsidiary, with its first project, a 2.8 GW nuclear plant in Mahi, Banswara, Rajasthan, in collaboration with NPCIL.
Renewable Energy and Sustainability Goals
NTPC aims to achieve 60 GW of renewable capacity by 2032, including 32 GW of solar, 15 GW of wind, and 13 GW of hydropower. The company targets for renewables to account for 25% of its total installed capacity by 2025 and 30% by 2030. NTPC’s “The Brighter Plan 2032” outlines goals for community development, water conservation, biodiversity, and decarbonization, aiming for net-zero Scope-II emissions in its townships by FY2025-26. NTPC has also announced a tender for a 20 MW ground-mounted Solar PV project at Vindhyachal.
Research and Development (R&D) Focus
NTPC’s R&D efforts are concentrated on carbon capture and utilization, ash utilization, waste management, water conservation, and green hydrogen. The company has developed technologies for carbon capture, converting ash into construction materials, and established a waste-to-charcoal plant in Varanasi. NTPC is implementing water-saving technologies like air-cooled condensers, which can reduce water usage by up to 60% and has conducted successful trials of hydrogen buses in Leh. In FY24, NTPC increased its R&D investment by 70%, allocating nearly Rs 4.84 billion to these initiatives.
These developments demonstrate NTPC’s commitment to sustainable growth, energy efficiency, and leadership in India’s power sector, supporting the nation’s goals for clean and reliable energy.