NTPC Green Energy Limited (NTPCGREEN) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of NTPC Green Energy Limited stock ₹11.49, price ₹83.69, that is 86.3% below the price, quality 33 out of 100. Rating: strongly overvalued. Calculated from audited financials with 9 of our 26 valuation models and 37 quality factors, updated daily.
Keep an eye on it?Free in your watchlist: 5 stocks without an account, 10 with oneYes, for free
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
23‑month range ₹81.21 – ₹148.61 · fair‑value band ₹11.21 – ₹12.40 · the ₹83.69 price screens above the ₹11.49 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
Follow NTPC Green Energy in your weekly email
Every Wednesday you see whether NTPC Green Energy is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
NTPC Green Energy Limited engages in the renewable energy generation business in India. The company has a portfolio of 17,277 MWs solar and wind projects. It also offers consultancy services, project management, and supervision services.
Show moreShow less
The company was incorporated in 2022 and is based in New Delhi, India. NTPC Green Energy Limited is a subsidiary of NTPC Limited.
Stock analysis
NTPC Green Energy Limited (NTPCGREEN) currently trades at ₹83.69, while our model-based Fair Value estimate is ₹11.49, 86% below the price, so the stock looks overvalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of ₹19.62 per share, and 0 of the 9 models we run sit above the ₹83.69 price.
Bear case: the Multiples group reads lowest at ₹11.16, and 9 of the 9 models stay below the price. Data coverage for this calculation is low.
Scenario range: ₹11.21 (bear) to ₹12.40 (bull), the price of ₹83.69 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 33/100 (below-average quality), in the Utilities sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
NTPC Green Energy Limited reported revenue of ₹28.6B in FY2026 versus ₹1.6B in FY2023, a compound +158.9%/yr. Reported net income was ₹5.2B in FY2026, compounding +45.1%/yr from FY2023.
Key figures
Market cap ₹705B (≈ $7.5B) Mid · P/E ratio 117.9 · P/S ratio 21.5 · EPS (TTM) ₹0.7100 · Net margin 18.5% · Return on equity 2.8% · Return on assets (EBIT) 2.4% · Operating margin 58.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 56 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −86%, NTPCGREEN screens richer than that median.
Fair Value models
Bear₹11.21Fair Value ₹11.49Bull₹12.40
Price ₹83.69 · Downside -86.3%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹0.4260 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Income₹13.19₹13.52₹14.5968
Growth-Adj P/E₹13.73₹19.62₹25.5065
P/E Multiple₹8.37₹11.16₹13.9563
All 9 models by family
Earnings-Based
Graham-Dodd₹4.22₹29.41₹41.2760
Lynch FV₹11.48₹16.40₹21.3258
PEG = 1.0₹11.48₹16.40₹21.3255
Multiples
P/E Multiple₹8.37₹11.16₹13.9563
P/S Multiple₹6.36₹8.48₹10.6058
P/B Multiple₹30.38₹40.51₹50.6455
Asset-Based
NCAV (Graham)₹11.25₹15.08₹22.5154
Economic Profit
Residual Income₹13.19₹13.52₹14.5968
Growth Earnings
Growth-Adj P/E₹13.73₹19.62₹25.5065
The fair value above starts from this blend and is adjusted for dilution from new shares.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+29.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+158.9%
’23
’24
’25
’26
What shareholders gained per year (last 3 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 3 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +31.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+31.2%
Dividend (yield on the price)0.0%
Profit margin 2023 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.62% → 48%
⚠ Rate on operating basis: 2026 sits 52% above its own trend.
AI conclusion: Rapid solar and wind capacity additions support revenue growth, yet high leverage paired with low returns on capital remains the central weakness.
Main risk: High leverage may keep the debt burden from being offset by any capital-efficiency gains from new projects, hitting returns on capital.
NTPC Green Energy continues to add solar and wind capacity through frequent project commissions. The rapid build-out supports revenue growth but sits alongside high leverage and low returns on capital. Our models see the stock as overvalued. Will expanding operations improve capital efficiency more than the debt burden weighs it down?
Compare NTPC Green Energy Limited with another stock
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Renewable · 200 stocks
Beats the industry median on 3/12 measures
Overall it trails its industry peers.
Valuation
Quality Score33 · Bottom 25%
Fair Value upside−86.3% · Bottom 25%
Profitability
Return on equity (12 months)2.8% · Below median
Return on assets0.9% · Below median
Net margin (12 months)18.5% · Top 25%
Operating margin (12 months)58.4% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)62.7% · Top 25%
Balance sheet
Debt / equity1.51× · Highest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/E (12 months)117.9× · Priciest 25%
P/B3.72× · Priciest 25%
P/S (12 months)21.47× · Priciest 25%
EV/EBITDA34.7× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 16
FUTURE (revenue growth)100· sector 15
PAST (return on equity)11· sector 13
HEALTH (low debt)25· sector 70
DIVIDEND (yield)0· sector 48
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "NTPC Green Energy Limited Fair Value". https://www.fairvalue-calculator.com/stock/NTPCGREEN
Frequently asked questions
Is NTPC Green Energy Limited (NTPCGREEN) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of ₹11.49 versus a price of ₹83.69, about 86% lower (overvalued).
What is the fair value of NTPCGREEN?
Our model-based fair value for NTPC Green Energy Limited is ₹11.49 (as of Nov 1, 2026), built from audited fundamentals. The current price: ₹83.69.
What is the quality score of NTPCGREEN?
NTPC Green Energy Limited has a Quality Score of 33/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for NTPC Green Energy Limited (NTPCGREEN)?
Our model-based price target is the fair value of ₹11.49 (as of Nov 1, 2026) from 9 valuation models. Cautious scenario ₹11.21, optimistic scenario ₹12.40. It is a calculation from audited fundamentals, not an analyst target.
What is the NTPC Green Energy Limited stock forecast for 2026?
Our models put fair value at ₹11.49, about 86% lower versus a price of ₹83.69 (overvalued). Cautious scenario ₹11.21, optimistic scenario ₹12.40. The calculation is refreshed regularly with new filings.
What is the revenue of NTPC Green Energy Limited (NTPCGREEN)?
NTPC Green Energy Limited reported trailing-twelve-month revenue of about ₹32.9B (latest available figure, as of Nov 1, 2026).
What is the intrinsic value of NTPC Green Energy Limited (NTPCGREEN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For NTPC Green Energy Limited it is ₹11.49 per share (as of Nov 1, 2026), against a price of ₹83.69. It is the blended result of 9 valuation models (cash flow, earnings, asset, dividend).
Is NTPC Green Energy Limited stock overvalued or undervalued in 2026?
As of Nov 1, 2026, NTPCGREEN trades above its calculated fair value: price ₹83.69, fair value ₹11.49, a gap of about −86% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of NTPCGREEN?
No. The price is what the market pays today (₹83.69); the fair value is what the company's own numbers justify (₹11.49). For NTPC Green Energy Limited the two are ₹72.20 per share apart. That gap is exactly why we show both numbers side by side.
How much is NTPC Green Energy Limited worth?
The market values NTPC Green Energy Limited at about ₹705B (market capitalisation, as of Nov 1, 2026). Per share that is ₹83.69; our models calculate a fair value of ₹11.49 per share.
What do the bullish and bearish scenarios say about NTPCGREEN?
Our models span a range for NTPC Green Energy Limited: cautious scenario ₹11.21, base ₹11.49, optimistic ₹12.40 per share (as of Nov 1, 2026, price ₹83.69). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of NTPCGREEN?
NTPC Green Energy Limited trades at a price-to-earnings ratio of 117.9 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹11.49 is built from several models across several years. Other multiples: P/B 3.7, P/S 21.5, EV/EBITDA 34.7.
How solid is the balance sheet of NTPC Green Energy Limited (NTPCGREEN)?
Balance-sheet figures for NTPC Green Energy Limited (as of Nov 1, 2026): return on equity 2.8%, debt of 1.51 per unit of equity. They feed the Quality Score of 33/100, which measures business quality independently of the share price.
How far is NTPCGREEN from its 52-week high?
NTPC Green Energy Limited trades at ₹83.69, about 30% below its 52-week high of ₹118.86 and 3% above the low of ₹81.21 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of ₹11.49 is for.
Which stocks are comparable to NTPC Green Energy Limited?
From the same area (Utilities) we also value China Yangtze Power Co, Huaneng Lancang River Hydropower Inc, VERBUND AG, Ørsted A/S, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is NTPC Green Energy Limited stock attractive at the current price?
The data as of Nov 1, 2026: price ₹83.69, calculated fair value ₹11.49 (−86%), Quality Score 33/100, from 9 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of NTPCGREEN calculated?
We run NTPC Green Energy Limited through 9 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹11.49, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. NTPC Green Energy Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of NTPC Green Energy Limited (NTPCGREEN)?
The closing price on Nov 5, 2026 was ₹83.69. Our model-based fair value is ₹11.49, about 86% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with NTPC Green Energy Limited right now?
The price sits above even our optimistic bull case (₹12.40). The favourable scenario is already priced in. Weak quality (33/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. The models converge in a tight band (₹11.21 to ₹12.40), unusually little disagreement for a valuation.
Key figures of NTPC Green Energy Limited
How large is the market capitalisation of NTPC Green Energy Limited (NTPCGREEN)?
The market capitalisation of NTPC Green Energy Limited is ₹705B (≈ $7.5B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of NTPC Green Energy Limited (NTPCGREEN)?
The price-to-sales ratio of NTPC Green Energy Limited is 21.5 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of NTPC Green Energy Limited (NTPCGREEN)?
Earnings per share at NTPC Green Energy Limited are ₹0.7100 (price ÷ EPS = P/E 117.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of NTPC Green Energy Limited (NTPCGREEN)?
The net margin of NTPC Green Energy Limited is 18.5% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of NTPC Green Energy Limited (NTPCGREEN)?
The return on equity (ROE) of NTPC Green Energy Limited is 2.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of NTPC Green Energy Limited (NTPCGREEN)?
On an EBIT basis the return on assets of NTPC Green Energy Limited is 2.4% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of NTPC Green Energy Limited (NTPCGREEN)?
The operating margin of NTPC Green Energy Limited is 58.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at NTPC Green Energy Limited (NTPCGREEN)?
Revenue at NTPC Green Energy Limited is growing +62.7% versus a year earlier (3y avg +159%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at NTPC Green Energy Limited (NTPCGREEN)?
Earnings per share at NTPC Green Energy Limited are growing +38.5% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does NTPC Green Energy Limited (NTPCGREEN) generate?
The free cash flow of NTPC Green Energy Limited is −₹129B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does NTPC Green Energy Limited (NTPCGREEN) carry?
The net debt of NTPC Green Energy Limited is ₹316B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
Free · no account needed
Watch NTPC Green Energy Limited in the live analysis
One click puts NTPC Green Energy Limited on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 27,000+ stock screener.
Thin data
Nov 1, 2026