NTPC Q4 Review - Operationally Strong, Higher Dividend; Renewable Energy Target Doubled: ICICI Securities
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ICICI Securities Report
NTPC Ltd. reports strong operational numbers in Q4 FY21 on the back of power demand recovery.
While reported standalone/consolidated profit after tax was Rs 44.8 billion/Rs 46.5 billion, up 258%/205% YoY, adjusted profit after tax was Rs 38.3 billion/Rs 40 billion, up 31%/25.2% YoY, respectively.
Strong core earnings backed by 7.3%/8.4% YoY increase in standalone/consolidated regulated equity to Rs 663 billion/Rs 840 billion helped increase FY21 earnings per share by 19.2%/12.7% to Rs 14.7/Rs 15.9.
The company has doubled its renewable energy capacity addition target by CY32 to 60 gigawatt and is on the right path with 1.5GW solar capacity won in the recent bids and participation in 5GW of upcoming bids.
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