NTPC Limited (National Thermal Power Corporation) is India’s largest power generation company and a Maharatna PSU, playing a central role in meeting the country’s growing energy demands. As of October 2025, NTPC’s share price trades between ₹337–₹339 on NSE, reflecting strong investor confidence amid India’s renewable energy transformation.
With increasing emphasis on clean energy, NTPC’s expansion into solar, hydro, and green hydrogen is driving optimism for long-term growth. The company’s consistent earnings, government support, and ambitious 60 GW renewable capacity target by 2032 position it as a strong long-term performer in India’s power sector.
About the Company
Founded in 1975, NTPC Limited operates across thermal, hydro, solar, and wind power generation. Headquartered in New Delhi, the company has a total installed capacity exceeding 76 GW, contributing around 25% of India’s total electricity generation.
NTPC’s strategic diversification into renewables through its subsidiary, NTPC Green Energy Ltd, reflects its transition towards a net-zero future by 2070. Its consistent dividend policy, operational reliability, and government ownership ensure financial stability.
Fundamental Analysis
Revenue & Profit Trends
- FY2025 Total Revenue: ₹1,74,413 crore
- Net Profit: ₹19,649 crore (up 8.7% YoY)
- EPS (FY2025): ₹16.85
- Gross Margin: 42.39% in Q4 FY25
NTPC’s revenue continues to grow steadily, supported by new capacity additions and higher plant load factors (PLF).
Valuation Metrics
- P/E Ratio: ~19.8x (Oct 2025)
- ROE: ~12.4%
- Dividend Yield: ~3%
Despite being a PSU, NTPC’s valuations are improving as investors re-rate it as a renewable play rather than a traditional thermal generator.
Balance Sheet Strength
- Total Assets: ₹4,07,917 crore
- Long-Term Borrowings: ₹1,44,365 crore
- Debt-to-Equity Ratio: 0.89
- Strong liquidity position, manageable leverage, and steady cash flows ensure resilience even during commodity price fluctuations.
Shareholding Pattern (as of Q2 FY26)
- Government of India: 51.1%
- FIIs: 16.7%
- DIIs: 22.9%
- Public & Others: 9.3%
Institutional investors’ shareholding has risen steadily, signaling growing confidence in NTPC’s long-term plans.
Past Stock Performance
NTPC has delivered over 95% returns in the last 2 years, outperforming several PSU peers. The stock has seen a re-rating trend since 2023 as the company announced major renewable projects and green subsidiaries. Historically, NTPC’s dividend yield and low volatility have attracted conservative as well as long-term investors.
NTPC Share Price Target & Prediction 2025 to 2050
| Year | Minimum | Average | Maximum |
|---|---|---|---|
| 2025 | ₹320 | ₹415 | ₹475 |
| 2026 | ₹390 | ₹520 | ₹610 |
| 2027 | ₹460 | ₹625 | ₹730 |
| 2028 | ₹530 | ₹745 | ₹860 |
| 2029 | ₹610 | ₹890 | ₹990 |
| 2030 | ₹775 | ₹1,050 | ₹1,130 |
| 2035 | ₹1,200 | ₹1,550 | ₹1,800 |
| 2040 | ₹1,850 | ₹2,250 | ₹2,400 |
| 2045 | ₹2,600 | ₹2,950 | ₹3,200 |
| 2050 | ₹3,200 | ₹3,700 | ₹3,950 |
NTPC Share Price Forecast for 2025 to 2050
NTPC Share Price Target 2025
NTPC’s share price target for 2025 is projected between ₹415–₹475, supported by strong FY25 earnings, high generation levels (438.6 BU), and expansion in green projects. Analysts expect steady upside due to improved profitability and demand outlook.
NTPC Share Price Target 2026
In 2026, the stock may touch ₹520–₹610 as renewable capacity accelerates under NTPC Green Energy. Rising contribution from solar and hydro assets will likely enhance margins and valuations.
NTPC Share Price Target 2027
By 2027, NTPC’s share could reach ₹625–₹730, driven by commissioning of multiple solar parks and improved operational efficiencies. Increasing institutional interest and inclusion in ESG portfolios could act as additional catalysts.
NTPC Share Price Target 2028
The stock might trade around ₹745–₹860 in 2028. The company’s 10–12% annual revenue growth and stable dividend payouts will attract both retail and long-term investors.
NTPC Share Price Target 2029
As NTPC’s renewable portfolio strengthens, share prices may rise to ₹890–₹990. The company’s strategic focus on reducing coal dependency will improve investor sentiment further.
NTPC Share Price Target 2030
NTPC’s share price target for 2030 is expected between ₹1,050–₹1,130, assuming renewable energy capacity hits 60 GW. The re-rating of NTPC as a clean energy major may lead to record valuations.
NTPC Share Price Target 2035
By 2035, NTPC may achieve ₹1,550–₹1,800, fueled by diversified green ventures, international collaborations, and stable cash generation. Its consistent dividend track record adds reliability.
NTPC Share Price Target 2040
The company could see share prices in the range of ₹2,250–₹2,400, reflecting long-term compounding at ~20% CAGR. NTPC’s leadership in India’s renewable ecosystem will play a decisive role.
NTPC Share Price Target 2045
With continued growth and tech integration, the stock may hit ₹2,950–₹3,200. Improved ESG compliance and financial restructuring will support sustained growth.
NTPC Share Price Target 2050
By 2050, NTPC’s share price could reach ₹3,700–₹3,950, assuming India achieves energy independence and NTPC becomes a global green energy leader. At this stage, dividends and valuation expansion will be key drivers.
Growth Drivers
- Expansion into renewable and green hydrogen projects (60 GW by 2032).
- Government support under “Atmanirbhar Bharat” and net-zero goals.
- Rising electricity demand due to EV growth and industrialization.
- Operational efficiency improvements and digitalization.
- Stable dividend yield attracting long-term investors.
- Strategic partnerships and international ventures.
Expert Views
Brokerages like Motilal Oswal, ICICI Direct, and Axis Securities maintain a “Buy” rating on NTPC, citing strong earnings visibility and diversification. Analysts expect the renewable energy segment to contribute 20–25% of total profits by FY30, re-rating the stock in line with green energy peers.
Risks & Challenges
- High debt burden could limit near-term profitability.
- Delay in renewable project execution.
- Regulatory or tariff-related uncertainties.
- Fuel price fluctuations impacting thermal operations.
- Global energy transition speed affecting coal-based revenues.
Investment Suitability
NTPC is suitable for:
- Long-term investors seeking consistent growth and stable dividends.
- Conservative investors preferring PSU-backed reliability.
- ESG-conscious investors focusing on renewable transitions.
It is less ideal for short-term traders due to moderate volatility and gradual price movements.
FAQs
1. What will be NTPC’s share price in 2030?
By 2030, NTPC’s share price could range between ₹1,050 and ₹1,130, driven by renewable capacity expansion and higher profitability.
2. Can NTPC reach ₹1,000 by 2029?
Yes, under the aggressive growth scenario, NTPC is expected to reach or surpass ₹1,000 by 2029, supported by strong fundamentals and policy support.
3. Is NTPC good for long-term investment?
Absolutely. With consistent profits, regular dividends, and a shift towards green energy, NTPC remains a solid long-term PSU investment.
4. What are NTPC’s dividend prospects?
NTPC consistently distributes dividends, maintaining a payout ratio of 30–40%, providing reliable passive income.
Conclusion
NTPC Limited’s transformation from a traditional thermal player to a green energy powerhouse makes it one of the most promising PSU stocks for the long term. With a strong government mandate, consistent performance, and massive renewable capacity targets, NTPC’s share price could grow multi-fold by 2050.
While risks remain in terms of debt and policy dependence, the company’s fundamentals and sustainability roadmap make it a compelling choice for long-term investors.
