NTPC stock gains on record power generation in FY23

NTPC has registered its highest-ever power generation of 400 BU in FY23, implying about 11 percent YoY growth

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Shares of NTPC rose around two percent intraday on April 3, as the company recorded its highest-ever power generation of 400 BU in FY23, an 11 percent growth from the previous year.

NTPC also posted a 65 percent YoY growth in its captive coal production at 23.2 MMT (million metric tonnes), while its non-fossil portfolio registered a 24 percent growth.

NTPC has taken several steps to augment coal production from its mines by using high-capacity dumpers and by increasing the fleet size of excavators, the power generator said.

Shares of the company ended 1.3 percent higher at Rs 177.50 on the BSE on April 3.

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NTPC has set an ambitious goal of reaching half its installed capacity through RE by 2032.

As per a report, phase 1 of NTPC’s Rs 1.1 lakh-crore Green Energy Park Project, or Green Hydrogen Hub, at Pudimadaka in Andhra Pradesh’s Anakapalle district will be completed by 2026. The green energy park will be completed by 2030.

NTPC plans to add 60,000 MW of renewable energy capacity by FY32, of which it has 3,154 MW operational, another 4,718 MW under construction and the rest under planning and feasibility. It also has 10,620 MW thermal projects and 2,255 MW of hydro projects under construction.

HDFC Securities believes earnings will grow at 9 percent compounded annually over FY22-25. NTPC is also planning to sell a 10-20 percent stake in its renewable business. The stock is available at an attractive dividend yield of 4 percent, the brokerage firm said.

“We believe NTPC is amongst the safest bets in the power sector, given its dominant position in generation, regulated business model and adequate fuel supply arrangements,” HDFC Securities said.