NTPC Green Energy Q4 results: Five key things to watch out for

The Street will keenly track the company's topline and bottomline numbers, operational performance, and order wins, and business deals, for the quarter as well as the fiscal year 2024-25, an update on the company's fund utilisation from IPO proceeds, and management's commentary on the company's plan, guidance and strategy.

Besides this, the opportunities and challenges for the company as well as the overall industry, are other key monitorables.

By 2032, NTPC plans to have 60 GW capacity through renewable energy (RE) sources constituting nearly 45% of its overall power generation capacity.

NTPC Green Energy Q3 FY25 Results

NTPC Green Energy Ltd (NGEL) reported an 18% rise in consolidated net profit at ₹65.61 crore for the December quarter of FY25, on account of higher income.

It had logged ₹55.61 crore in the year-ago quarter, the company said in an exchange filing.

Total income rose to ₹581.46 crore from ₹463.46 crore. Expenses were at ₹482.22 crore as against ₹383.28 crore.

Recent business updates

• In its board meeting held on April 29, the company said its board had approved the borrowing upto ₹5,000 crore during the financial year 2025-26, by issuing secured/unsecured, redeemable, taxable/ tax free, cumulative, non-cumulative debentures (Bonds/ NCDs) in one or more tranches.

• In April 2025 itself, the company said it had signed a memorandum of understanding (MoU) with Honeywell UOP India Pvt Ltd (UOP). The collaboration aims to explore the production of sustainable aviation fuel (SAF) by conducting feasibility study that leverages Honeywell’s proprietary eFining technology and carbon dioxide (CO2) emissions captured from NTPC’s power plants and green hydrogen.

• NTPC Green Energy in April 2025 said it had commissioned a 90 MW unit of Dayapar Wind Energy Project Phase-I in Gujarat.

"The second part capacity of 90 MW out of 150 MW Dayapar Wind Energy Project Phase-I of NTPC Renewable Energy Limited at Bhuj, under 450 MW Hybrid Project, is declared on Commercial Operation w.e.f. 00:00 Hrs. of April 9, 2025," NTPC Green Energy Ltd (NGEL) said in the filing.

The first part's capacity of 50 MW has already been declared in commercial operation effective November 4, 2023.

In another filing, NGEL said NTPC-MAHAPREIT Green Energy has been incorporated in a JV with Mahatma Phule Renewable Energy and Infrastructure Technology Limited (MAHAPREIT).

The 74:26 joint venture will be engaged in the business of developing, operating and maintaining renewable energy parks comprising solar/wind/hybrid projects with or without storage up to 10 GW capacities in Maharashtra and any other state in India.

• On May 10, 2025, NTPC Green Energy board appointed Sarit Maheshwari as the Chief Executive Officer with immediate effect.

According to the filing, the board of directors has approved the appointment of Sarit Maheshwari as Chief Executive Officer of the company with effect from May 10, 2025.

Maheshwari has 35 years of experience in the power sector and was associated with NTPC as Head of Project Korba, it said.

NTPC Green Energy listing and IPO details

Shares of NTPC Green Energy Ltd, the renewable energy arm of NTPC, listed with a premium of over 3% against the issue price of ₹108 on Novemeber 27, 2024.

The stock made its debut at ₹111.60, up 3.33% from the issue price on the BSE. Later, it climbed 12.40% to ₹121.40.

On the NSE, it listed at ₹111.50, up 3.24%.

The initial public offering (IPO) of NTPC Green Energy Ltd got subscribed 2.40 times on the closing day of the share sale.

The ₹10,000 crore share sale had a price band of ₹102-₹108 per share.

Proceeds from the IPO, about ₹7,500 crore at the upper band, the company said, will be used to repay or prepay part or all of its subsidiary NTPC Renewable Energy Ltd's (NREL) outstanding loans, and a portion will be utilised for general corporate purposes.

NTPC Green Energy is a 'Maharatna' central public sector enterprise with a renewable energy portfolio, including solar and wind power assets.