NTPC Limited was fined ₹5,31,000 each by BSE Limited and National Stock Exchange of India Limited for the quarter ended March 31, 2026, due to non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fines, inclusive of GST, were imposed via notices dated May 27, 2026. The penalty highlights a governance gap concerning the composition of the company's board.

The non-compliance pertains to the requirement for Independent Directors. In its response to the exchanges dated May 27, 2026, NTPC Limited clarified that it is a Government Company. Under its Articles of Association, the authority to appoint or remove Directors rests with the President of India, administered through the Ministry of Power (MoP).

The company informed the exchanges that it is consistently pursuing the matter with the MoP to appoint the requisite number of Independent Directors. This step is intended to ensure compliance with Regulation 17(1) of the Listing Regulations. NTPC has requested that the fines imposed for this non-compliance not be levied, citing the government process involved in director appointments.

The matter regarding the imposition of fines and the non-compliance with Listing Regulations has been placed before the Board of Directors for information. The company's disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations.

NTPC Limited has reported a consolidated net profit of ₹27,545.76 crore for the financial year ended March 31, 2026, compared to ₹23,953.15 crore in the previous year. The standalone net profit for the year stood at ₹23,162.22 crore. For the quarter ended March 31, 2026, the standalone net profit was ₹8,747.27 crore, while the consolidated net profit was ₹10,614.95 crore.

Financial Performance

Revenue from operations for the standalone entity for the quarter stood at ₹43,110.74 crore, compared to ₹43,903.65 crore in the same quarter last year. Total income for the period was ₹44,029.69 crore. On a consolidated basis, revenue from operations was ₹49,687.77 crore for the quarter and ₹1,89,798.56 crore for the year ended March 31, 2026. EBITDA for the quarter came in at ₹125B rupees, up from ₹112.54B rupees in the same quarter of the previous year, with the EBITDA margin expanding to 29% from 25.63% year-on-year.

The table below summarises the key standalone quarterly financial metrics:

Dividend Declaration

The Board of Directors has recommended a final dividend of ₹3.50 per equity share of face value ₹10 each for the financial year 2025-26. This is in addition to the two interim dividends of ₹2.75 per share each declared earlier. The total dividend for the financial year aggregates to ₹9.00 per equity share. The dividend is subject to the approval of shareholders at the ensuing Annual General Meeting.

Regulatory Disclosures

The company has submitted the audited financial results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee on May 22, 2026, and approved by the Board on May 23, 2026. Additionally, the company disclosed that there were no outstanding defaults on loans and debt securities as of the quarter ended March 31, 2026. The asset cover ratio for the listed secured debt securities was in compliance with the minimum requirement of 100% as per SEBI regulations.