$NTPCGREEN NTPC Green Energy Ltd posted strong Q4 FY26

NTPC Green Energy Ltd posted strong Q4 FY26 operational growth with revenue up 46.7 % YoY to ₹912.6 crore and EBITDA up 38.2 % to ₹774.5 crore, though net profit fell 15.6 % to ₹197 crore. The board approved a ₹5,000 crore fund‑raise and a new renewable‑energy joint venture with CtrlS Datacenters Ltd. ⚙️ Q4 FY26 Performance Snapshot Metric Q4 FY26 Q4 FY25 YoY Change Revenue from Operations ₹912.6 crore ₹622.3 crore +46.7 % EBITDA ₹774.5 crore ₹560.3 crore +38.2 % EBITDA Margin 84.9 % 90 % ↓ 510 bps Net Profit (PAT) ₹197.1 crore ₹233.3 crore −15.6 % Finance Cost ₹257.5 crore ₹177 crore +45.6 % Employee Expenses ₹29.2 crore ₹14.7 crore +98.9 % 🌱 Full‑Year FY26 Highlights Revenue: ₹2,858 crore (+29.4 % YoY) Net Profit: ₹522.6 crore (+9.9 % YoY) EBITDA Margin: 84 % (steady, reflecting high‑efficiency renewable operations) Capex & Debt: Board cleared ₹5,000 crore fund‑raise via secured/unsecured NCDs & bonds in FY27. JV Approval: Partnership with CtrlS Datacenters Ltd to develop renewable‑energy projects for data‑centre power supply. 🔋 Strategic Context Parent Company: NTPC Ltd (Maharatna PSU) Renewable Capacity Goal: NTPC Group targets 60 GW RE capacity by FY32, with NTPC Green Energy spearheading solar, wind, and hybrid projects. Recent Projects: Expansion in Rajasthan, Gujarat, and Karnataka solar parks; hybrid wind‑solar installations under SECI tenders. Market Performance: Stock closed at ₹104.1 on 22 May 2026, down 1.2 % day‑on‑day but up 9.4 % YTD, outperforming the Nifty Energy index. ⚠️ Risks & Outlook Rising Finance Costs could pressure margins as debt increases for new projects. Regulatory Approvals needed for the CtrlS JV and bond issuance. Profitability Recovery expected in FY27 as new solar and hybrid assets begin generation.