Company Valuation: NTPC Ltd

Data adjusted to current consolidation scope
Fiscal Period: March 2022 2023 2024 2025 2026 2027 2028 2029
Market Cap 1 1,309,050 1,697,886 3,256,140 3,467,528 3,594,069 3,136,387 - -
Change - 29.7% 91.78% 6.49% 3.65% -12.73% - -
Enterprise Value (EV) 1 2,990,965 3,510,445 5,062,325 5,272,178 5,474,576 5,753,858 5,523,245 5,550,433
Change - 17.37% 44.21% 4.15% 3.84% 5.1% -4.01% 0.49%
P/E 8.12x 9.88x 19.2x 17.7x 15.5x 14.2x 13.1x 12.3x
PBR 1.02x 1.22x 2.17x 2.15x 2.06x 1.57x 1.47x 1.37x
PEG - 1.48x -13.62x 1.1x 0.9x -2.86x 1.52x 1.98x
Capitalization / Revenue 1.13x 1.04x 2.01x 2.04x 2.17x 1.66x 1.54x 1.45x
EV / Revenue 2.58x 2.14x 3.13x 3.1x 3.31x 3.04x 2.72x 2.57x
EV / EBITDA 8.84x 8.12x 11.7x 11.6x 12.2x 11.2x 9.86x 9.25x
EV / EBIT 13.2x 11.7x 17.3x 17.4x 19x 16.3x 14.8x 14x
EV / FCF 17x 19.4x 29.1x 25.9x 30x 44.9x 34x 39.7x
FCF Yield 5.88% 5.15% 3.43% 3.86% 3.33% 2.23% 2.94% 2.52%
Dividend per Share 2 7 7.25 7.75 8.35 9 9.555 10.13 10.73
Rate of return 5.19% 4.14% 2.31% 2.34% 2.43% 2.95% 3.13% 3.32%
EPS 2 16.62 17.73 17.48 20.26 23.89 22.71 24.66 26.19
Distribution rate 42.1% 40.9% 44.3% 41.2% 37.7% 42.1% 41.1% 41%
Net sales 1 1,161,373 1,637,698 1,619,850 1,700,374 1,654,937 1,892,504 2,030,462 2,157,164
EBITDA 1 338,457 432,284 431,824 453,732 447,991 513,963 560,188 599,892
EBIT 1 226,116 300,917 292,392 303,173 287,682 354,025 371,987 397,208
Net income 1 161,114 171,967 180,794 196,494 231,622 216,078 237,576 256,225
Net Debt 1 1,681,915 1,812,559 1,806,184 1,804,650 1,880,506 2,617,472 2,386,859 2,414,046
Reference price 2 135.00 175.10 335.80 357.60 370.65 323.45 323.45 323.45
Nbr of stocks (in thousands) 9,696,666 9,696,666 9,696,666 9,696,666 9,696,666 9,696,666 - -
Announcement Date 5/20/22 5/19/23 5/24/24 5/24/25 5/23/26 - - -
1INR in Million2INR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
14.25x3.04x11.2x2.95% 33.36B
29x6.86x18.88x-.--% 41.91B
13.69x6.45x13.62x3.19% 32.88B
23.51x11.37x16.39x1.93% 30.6B
26.41x8.15x13.27x1.77% 29.72B
85.04x20.19x23.59x-.--% 24.95B
17.42x4.98x9.1x3.19% 18.95B
30.86x8.35x10.49x1.27% 17.12B
Average 30.02x 8.67x 14.57x 1.79% 28.69B
Weighted average by Cap. 28.87x 8.42x 15.03x 1.73%

Y-o-Y evolution of P/E

Valuation ratios - P/E - NTPC Ltd

Historical PBR trend

Valuation ratios - PBR - NTPC Ltd

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - NTPC Ltd

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - NTPC Ltd


Year-on-year evolution of the Yield

Valuation ratios - Yield - NTPC Ltd