NTPC Green Energy Limited has announced the appointment of Shri Deepak C. S. as Company Secretary & Compliance Officer with immediate effect. The appointment was approved during a board meeting held on 25th March 2026, in compliance with corporate disclosure requirements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

Key Appointment Details

Professional Background and Qualifications

Shri Deepak C. S. brings extensive experience to his new role, with over 25 years of expertise in secretarial operations and corporate/statutory compliances, particularly in listed companies. His professional background encompasses various critical areas including company secretary functions, compliance management, corporate laws, Corporate Social Responsibility (CSR), due diligence, and corporate restructuring.

The appointee holds several professional qualifications that strengthen his credentials for the role:

• Fellow Member of the Institute of Company Secretaries of India (ICSI)
• Bachelor of Commerce (B.Com)
• Certified Associate of Indian Institute of Bankers (CAIIB)
• Resolution Professional certification

Industry Experience and Expertise

Shri Deepak C. S. has gained comprehensive experience across diverse industry sectors, including aviation, manufacturing, banking, and chemicals. This broad sectoral exposure provides him with valuable insights into various business environments and regulatory frameworks, which will be beneficial in his role at NTPC Green Energy Limited.

Role and Responsibilities

As Company Secretary & Compliance Officer, Shri Deepak C. S. will be responsible for a comprehensive range of functions, including but not limited to:

• Company Secretary functions as per the Companies Act, 2013
• Compliance with SEBI (LODR) Regulations, 2015
• Adherence to other applicable regulations and rules
• Managing amendments and updates to regulatory requirements
• Additional responsibilities as assigned by management

Regulatory Compliance and Terms

The terms and conditions of appointment, including remuneration for Shri Deepak C. S., will be governed by the existing policy of the company. The official notification was signed by Neeraj Sharma, Chief Financial Officer, and communicated to both NSE and BSE as per regulatory requirements. This appointment reflects NTPC Green Energy Limited's commitment to maintaining strong corporate governance and compliance standards as it continues its operations in the renewable energy sector.

NTPC Green Energy has received an Underperform rating from Bernstein as the brokerage firm initiated coverage on the renewable energy company. The research house has set a target price of Rs 80 for the stock, reflecting a cautious outlook on pure-play renewable energy companies in the current market environment.

Bernstein's Investment Thesis

The brokerage firm's bearish stance on NTPC Green Energy stems from India's evolving energy security strategy. Bernstein believes that the country's focus on energy independence and security will benefit companies with diversified energy portfolios rather than those concentrated solely in renewable energy generation.

Energy Security Priorities Shape Market Outlook

According to Bernstein's analysis, India's energy security push is creating a favorable environment for specific sectors within the energy landscape. The research firm identifies thermal power, nuclear energy, storage solutions, and grid-linked infrastructure as the primary beneficiaries of this strategic shift.

The brokerage notes that while electrification trends continue to gain momentum, particularly following disruptions related to Russia and Iran, the market dynamics favor companies with comprehensive energy solutions over pure-play renewable energy firms.

Market Positioning and Competitive Landscape

Bernstein's assessment suggests that companies offering integrated energy solutions, including thermal and nuclear capabilities alongside storage and grid infrastructure, are better positioned to capitalize on India's energy transition. This perspective places pure-play renewable energy companies like NTPC Green Energy at a relative disadvantage in the current market environment.

The target price of Rs 80 reflects Bernstein's view that the company's focused renewable energy approach may face headwinds as India prioritizes energy security and diversification over pure renewable energy expansion in the near term.