NTPC, in its analyst meet, said it is raising the bar not only for capacity additions by 15% but also its transition initiatives, including carbon batteries.
The state-run entity has scaled up its financial year 2032 capacity target to 149 GW, up 15% from 130 GW earlier, over FY25-32 as it multiplies its renewable additions with the collapse in polysilicon prices, it said.
India’s energy security and net zero plan provides NTPC with a decadal growth opportunity and it sees upside risk to this target, CLSA said.It has forecast 45% earnings-per-share and 230 basis points return on equity (RoE) growth over FY25-27.
CLSA said it sees NTPC back in the deep-value zone, trading at 10 times its earnings-per-share estimate for FY27. This is excluding the value of NTPC Green, which is 24% of its market cap, with a 3% dividend yield, which is 2.9 times higher than Nifty.
Shares of NTPC Ltd. are trading 1.5% higher on Wednesday at ₹340.
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