NTPC Limited Releases Business Responsibility and Sustainability Report for FY 2025-26

5 min read     Updated on 04 Aug 2026, 08:10 PM
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NTPC Limited filed its BRSR for FY 2025-26, disclosing a standalone total income of ₹1,69,724.60 crore and net worth of ₹1,74,865.25 crore, with operations across 34 states and union territories. Key sustainability highlights include total energy savings of 4,516.23 TJ, a 7.33% decline in total water consumption to 96,75,49,046 Kl, Scope 1 GHG emissions of 30,90,07,966.99 tonnes of CO₂ equivalent, and SOx emissions declining by 22.28% to 12,47,429.06 metric tonnes. The company recorded zero confirmed bribery cases, zero data breaches, and CSR beneficiaries of 22,13,308 during FY 2025-26. Long-term targets include achieving 60 GW of renewable energy capacity and reducing energy intensity by 12%, both by FY 2032.

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NTPC Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 to the stock exchanges on August 4, 2026, in compliance with Regulation 34(2)(f) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The report, prepared on a standalone basis covering the period April 1, 2025 to March 31, 2026, has been independently assured by TUV India Private Limited under a reasonable assurance framework. The report is available on the company's website under the "Investors Update" section.

Entity Overview and Financial Parameters

Incorporated in 1975, NTPC Limited is headquartered at NTPC Bhawan, SCOPE Complex, 7 Institutional Area, Lodi Road, New Delhi – 110003, with a Corporate Identification Number of L40101DL1975GOI007966. The company's paid-up capital stands at ₹9,696.67 crore. Key financial parameters disclosed under the CSR section for FY 2025-26 are as follows:

Parameter: Details
Turnover (Total Income): ₹1,69,724.60 crore
Net Worth: ₹1,74,865.25 crore
Paid-up Capital: ₹9,696.67 crore
Reporting Boundary: Standalone
Assurance Provider: TUV India Private Limited
Type of Assurance: Reasonable

Operations and Business Activities

NTPC operates 36 locations nationally (34 operational plants, one under construction, and one under phased commissioning), with no international operations. The company serves customers across 34 states and union territories. Electricity generation and distribution accounts for 97.46% of total turnover, with the product-wise breakdown as follows:

Product / Service: % of Total Turnover
Power Generation from Coal: 93.29%
Power Generation from Gas: 3.07%
Power Generation from Hydro: 0.75%
Power Generation from Solar: 0.35%
Mining: 0.01%
Consultancy: 0.11%
Energy Trading: 2.42%
Total: 100%

Exports as a percentage of total turnover for FY 2025-26 stood at 0.0029%. NTPC supplies electricity primarily to State Electricity Distribution Companies (DISCOMs), State Electricity Boards, State Power Departments, Indian Railways, and private distribution companies through long-term power purchase arrangements.

Workforce and Inclusion

As at the end of FY 2025-26, NTPC's total workforce comprised 12,220 employees and 1,15,030 workers. The company's Board of Directors had 13 members, of whom 1 (7.69%) was female, while among 12 Key Management Personnel, 1 (8.33%) was female. Turnover rates for permanent employees and workers across three financial years are presented below:

Category: FY 2025-26 (Total) FY 2024-25 (Total) FY 2023-24 (Total)
Permanent Employees: 5.30% 6.03% 6.55%
Permanent Workers: 9.63% 10.41% 10.64%

The company reported 270 differently abled employees and 904 differently abled workers as at the end of FY 2025-26. Wellbeing expenditure as a percentage of total revenue was 1.11% in FY 2025-26, compared to 0.95% in FY 2024-25.

Environmental Performance

NTPC's environmental disclosures for FY 2025-26 reflect the company's ongoing efforts across energy, water, emissions, and waste management. Key environmental metrics are summarised below:

Environmental Metric: FY 2025-26 FY 2024-25
Total Energy from Renewable Sources (TJ): 16,339.18 6,004.50
Total Energy from Non-Renewable Sources (TJ): 33,90,984.38 36,02,629.96
Total Energy Consumed (TJ): 34,07,323.55 36,08,634.46
Energy Intensity (TJ/GWh): 9.658307094 9.67917242
Total Water Consumption (Kl): 96,75,49,046.55 1,04,41,20,245.69
Water Intensity (Ltr/kWh): 2.74 2.80
Scope 1 GHG Emissions (Tonnes CO₂e): 30,90,07,966.99 32,69,59,946.44
Scope 2 GHG Emissions (Tonnes CO₂e): 72,361.35 64,979.66
GHG Intensity (gCO₂e/kWh): 876.11 877.15
Scope 3 GHG Emissions (Metric Tonnes CO₂e): 1,05,88,637.77 19,73,049.64
Total Waste Generated (Metric Tonnes): 57,192.79 60,294.19
NOx Emissions (Metric Tonnes): 5,38,969.99 6,21,791.00
SOx Emissions (Metric Tonnes): 12,47,429.06 16,05,071.00
Particulate Matter (Metric Tonnes): 65,081.33 83,599.00
Mercury (HAP) (Metric Tonnes): 6.25 8.66

Total water consumption declined by 7.33% from FY 2024-25, attributed to enhanced water-use efficiency measures and increased recycling. SOx emissions reduced by 22.28% from FY 2024-25 following installation of Flue Gas Desulphurization (FGD) units. Renewable energy consumption increased by 172% largely on account of increased biomass use. Total energy saved in operations during FY 2025-26 was 4,516.23 TJ. NTPC has planted over 41 million trees cumulatively till March 31, 2026.

Safety Performance

NTPC's occupational health and safety management system is aligned with ISO 45001:2018. Key safety metrics for FY 2025-26 compared to FY 2024-25 are as follows:

Safety Metric: Category FY 2025-26 FY 2024-25
LTIFR (per million person-hours): Employees 0 0.091
LTIFR (per million person-hours): Workers 0.063 0.097
Total Recordable Work-Related Injuries: Employees 0 3
Total Recordable Work-Related Injuries: Workers 15 29
No. of Fatalities: Employees 0 0
No. of Fatalities: Workers 4 4

Governance, Ethics, and Stakeholder Engagement

NTPC reported zero confirmed cases of bribery and corruption during FY 2025-26. The company holds ISO 37001:2016 Anti-Bribery Management Systems certification and has an Anti-Bribery and Anti-Corruption (ABAC) Policy in place. Monetary penalties recorded during FY 2025-26 included a GST-related penalty of ₹1,31,358 and a separate GST order of ₹89,094 related to a mismatch in outward liability; no appeals were preferred in either case. No non-monetary penalties, imprisonment, or punishment were recorded.

NTPC's grievance redressal framework covers communities, investors, shareholders, employees, customers, and value chain partners. Community complaints filed during FY 2025-26 stood at 124, all resolved with zero pending at year-end, compared to 112 filed in FY 2024-25 with 10 pending. Investor grievances reduced significantly from 650 in FY 2024-25 to 2 in FY 2025-26, attributed to bonus and debentures that matured in March 2026. The company recorded zero data breaches during the reporting period.

Sustainability Targets and CSR

NTPC has embedded sustainability commitments across its business strategy, with the following key long-term targets:

  • Renewable Energy: Achieve 60 GW of renewable energy capacity by FY 2032
  • Energy Intensity: Reduce energy intensity by 12% by FY 2032
  • Water Consumption: Reduce specific water consumption by 34% by FY 2032
  • Afforestation: Plant 1 million tree saplings per year
  • Community Beneficiaries: Increase cumulative beneficiaries of community development projects to 18 million people by FY 2032
  • Health and Safety: Committed to reducing fatality rate to zero
  • Ethics: Zero cases of adverse business ethics

CSR beneficiaries of community development projects during FY 2025-26 totalled 22,13,308, of whom approximately 80.94% were from vulnerable and marginalized groups. Procurement from MSMEs stood at 64.92% of total procurement by value, with SC/ST procurement at 1.02% and women entrepreneur procurement at 4.12% during FY 2025-26. The company is affiliated with 25 trade and industry chambers and associations, including FICCI and CII, all with national reach.

Historical Stock Returns for NTPC

1 Day5 Days1 Month6 Months1 Year5 Years
-2.07%-2.04%-3.59%-4.16%+3.51%+192.10%

How will NTPC's heavy reliance on coal (93.29% of turnover) impact its ability to achieve the 60 GW renewable energy target by FY 2032 amidst rising carbon pricing risks?

What specific capital expenditure strategies is NTPC employing to offset the high costs associated with installing Flue Gas Desulphurization units and transitioning to biomass energy?

Given the significant year-over-year increase in Scope 3 emissions, what supply chain decarbonization initiatives will NTPC prioritize to meet its broader sustainability goals?

NTPC targets 250 GW portfolio by FY37 with ₹17 lakh crore capex plan

3 min read     Updated on 02 Aug 2026, 03:35 PM
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NTPC outlined a long-term strategy to reach 250 GW capacity by FY37, driven by renewables and nuclear energy. With FY26 group PAT at ₹27,546 crore and a ₹17 lakh crore capex projection, the company balances high dividend payouts with significant investments in green hydrogen, battery storage, and mining.

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NTPC Ltd has unveiled an ambitious growth roadmap targeting a 250 gigawatt (GW) installed capacity by FY37, supported by a projected capital expenditure of ₹17 lakh crore over the next 11 years. During its 22nd Annual Analysts and Institutional Investors Meet held on July 27, 2026, management highlighted robust financial performance in FY26, including a group profit after tax (PAT) of ₹27,546 crore, and outlined strategic expansions in renewable energy, nuclear power, and energy storage to navigate India’s energy transition.

The disclosure was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ajay Garg, AGM (Finance) and head of Investor Relations, signed the communication dated August 2, 2026. The full transcript of the meet is available on the company’s website.

Financial Performance and Dividend Policy

NTPC reported strong financial results for FY26, with group PAT rising to ₹27,546 crore from ₹16,960 crore in FY22, reflecting a compound annual growth rate (CAGR) of 12.89%. Standalone PAT reached ₹23,162 crore, while consolidated EBITDA stood at ₹60,564 crore. The company maintained a healthy debt-equity ratio of 1.32 and improved outstanding receivable days to 15 days from 31 days in the previous year.

Management confirmed a dividend payout ratio target of 36% to 40% going forward. For FY26, the Board recommended a final dividend of ₹3.50 per share, adding to the interim dividend of ₹5.50 already paid, totaling ₹9.00 per share. This marks the 33rd consecutive year of dividend distribution.

Metric FY26 Value Change / Note
Group PAT ₹27,546 crore Up from ₹16,960 crore in FY22
Standalone PAT ₹23,162 crore Highest ever standalone profit
Consolidated EBITDA ₹60,564 crore Strong operational earnings
Capex Incurred ₹49,000+ crore Group level; up from ₹44,636 crore
Dividend Per Share ₹9.00 Interim ₹5.50 + Final ₹3.50

Capacity Expansion and Energy Transition

NTPC aims to expand its renewable energy portfolio to 60 GW by FY32 and 136 GW by FY37. Currently, the group operates over 90 GW of commercial capacity, with 35.7 GW under construction. In FY26, the company added 9.6 GW of new capacity, nearly 60% from renewable sources. For FY27, NTPC targets adding another 7 GW to 8 GW of renewable capacity, subject to transmission infrastructure availability.

The company is also making significant strides in nuclear energy through its subsidiary NTPC Parmanu Urja Nigam Ltd (NPUNL) and joint venture Ashvini with NPCIL. NTPC targets 30 GW of nuclear capacity by FY47. Additionally, the company is developing a flagship green hydrogen hub at Pudimadakka with an envisaged investment of ₹1 lakh crore.

Operational Efficiency and Strategic Initiatives

Operational metrics remain strong, with coal-based plants achieving a Plant Load Factor (PLF) of 72.04% in FY26. Forced outage rates have been reduced to 3.75%. NTPC Mining Limited produced 47.8 million tons of coal in FY26, an 8.5% increase, aiming to meet 25% of the group’s coal requirement by FY30.

Management addressed challenges related to renewable curtailment and technical minimums for thermal plants. To mitigate this, NTPC is co-locating 5 GW-hours of Battery Energy Storage Systems (BESS) at thermal power stations under a regulated returns framework. The company is also exploring smaller, flexible thermal units that can cycle between start and stop modes to complement renewable generation.

What the Numbers Show

The divergence between NTPC’s aggressive capacity addition targets and the current transmission constraints highlights a critical dependency on grid infrastructure development. While renewable capacity additions are planned at 7-8 GW for FY27, management explicitly linked these figures to storage integration rather than pure generation capacity, signaling a shift in investment logic towards hybrid models. Furthermore, the maintenance of a high dividend payout ratio alongside a ₹17 lakh crore capex pipeline suggests reliance on external financing or retained earnings optimization, as evidenced by the improved receivable days and lower weighted average interest rate of 5.98%.

Historical Stock Returns for NTPC

1 Day5 Days1 Month6 Months1 Year5 Years
-2.07%-2.04%-3.59%-4.16%+3.51%+192.10%

How will NTPC structure its capital raising for the ₹17 lakh crore capex pipeline to maintain its target dividend payout ratio without significantly increasing its debt-equity ratio?

What specific regulatory or policy changes are required to ensure the successful deployment of 5 GW-hours of BESS at thermal stations under a regulated returns framework?

Given the dependency on transmission infrastructure, what are the projected timelines for grid connectivity approvals that could impact NTPC's FY27 renewable capacity addition targets?

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1 Year Returns:+3.51%