NTPC - Excellent Performance In A Challenging Environment; Sustainable Growth Ahead: ICICI Securities
Cooling towers stand at the NTPC Ltd. power station in Dadri, India. (Photographer Pankaj Nangia/Bloomberg)

NTPC - Excellent Performance In A Challenging Environment; Sustainable Growth Ahead: ICICI Securities

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ICICI Securities Report

NTPC Ltd. has closed FY21 with excellent operational figures despite the challenges faced during H1 FY21.

NTPC group has added 3.4 gigawatt (net) commercial capacity during the year to reach 64.5 GW, while standalone commercial capacity reached 51.7 GW.

Non-fossil fuel capacity addition of 904 megawatt (renewable energy + hydro) helped its pie to increase by 100 basis points YoY to 7.8% of total installed capacity, which is to increase to ~40% in the next decade.

Helped by disbursals by Power Finance Companies and Rural Electrification Corporation through the Aatmanirbhar scheme for discoms, the company’s FY21-end receivables are estimated to have declined to 45-48 days (Rs 120 billion-Rs 140 billion), lower than at FY20-end.

Click on the attachment to read the full report:

ICICI Securities NTPC Company Update.pdf

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