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Operational & Financial Snapshot(Q3/9M FY26) /ntpc1/ntpcltd1 /ntpclimited/Company/ntpc /ntpclimitedFollow us on:
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Presentation Outline 2 Operational PerformanceOperational Performance11Financial PerformanceFinancial Performance22Key Growth PointersKey Growth Pointers33
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33 As onDescriptionChange31-Dec-2431-Dec-2590397659885637Installed & Commercial Capacity (NTPC Group)16285916860796Installed & Commercial Capacity (NTPC Standalone)Increase in Installed & Commercial Capacity (MW) 748 2120 2868 880 4536 755 6171 010002000300040005000600070008000900010000NTPC NGEL THDC & Others TotalThermal CapacityRenewable Capacity1628453628759039
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4 Generation* (in BUs) % Change (Y-o-Y)Change (Y-o-Y)9MFY259MFY26%Change (Q3-o-Q2)Change (Q3-o-Q2)Q2 FY26%Change (Q3-o-Q3)Change (Q3-o-Q3)Q3 FY25Q3 FY26Description(5.71)(15.861)277.598261.7374.934.09883.161(4.37)(3.991)91.25087.259Gross Generation(5.81)(16.119)277.598261.4794.924.09283.159(4.38)(3.999)91.25087.251CommercialGeneration(6.15)(15.916)258.599242.6835.063.89877.097(4.77)(4.060)85.05580.995Energy Sent Out87.25991.2583.16187.25191.2583.15980.99585.05577.0970102030405060708090100Q3 FY26 Q3 FY25 Q2 FY26Gross GenerationCommercial GenerationEnergy Sent Out261.737 261.479 242.683 277.598 277.598 258.599 - 50.000 100.000 150.000 200.000 250.000 300.000Gross Generation Commercial Generation Energy Sent Out9MFY269MFY25* Standalone
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5 PLF Data* (in %)Change (Y-o-Y)9MFY259MFY26Change (Q3-o-Q2)Q2 FY26Change (Q3-o-Q3)Q3 FY25Q3 FY26Description(6.02)69.4763.45-----PLF Coal (All India)#(5.51)A76.2070.695.0266.01(4.95)A75.9871.03PLF (NTPC) – COAL(3.84)B11.287.44(2.35)B6.811.043.424.46PLF (NTPC) - GAS2.5020.7323.23(1.68)C22.840.9020.2621.16PLF (NTPC) - SOLAR4.84 58.9563.79(77.39) D104.605.1022.1127.21PLF (NTPC) - HYDRO#Source:- CEAA - Lower generation due to Grid RestrictionsB - Gas stations running as per Grid demand C - Due to seasonal variationD - Low available water head due to seasonal variation * Standalone
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6 Plant Availability Factor* (PAF) (in %)Change (Y-o-Y)9MFY259MFY26Change (Q3-o-Q2)Q2 FY26Change (Q3-o-Q3)Q3 FY25Q3 FY26Description0.4289.1189.536.4184.391.22 89.5890.80PAF - COAL(0.70)93.0892.381.0093.40(1.74)96.1494.40PAF - GAS5.9498.13104.07(10.49)109.4510.59 88.3798.96PAF - HYDRO90.80 89.58 84.39 89.5389.11Q3FY26 Q3FY25 Q2FY26 9MFY26 9MFY25Plant Availability Factor (in %) - Coal94.40 96.14 93.40 92.3893.08Q3FY26 Q3FY25 Q2FY26 9MFY26 9MFY25Plant Availability Factor (in %) - Gas98.96 88.37 109.45 104.0798.13Q3FY26 Q3FY25 Q2FY26 9MFY26 9MFY25Plant Availability Factor (in %) - Hydro * Standalone
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7 % Change (Y-o-Y)Change (Y-o-Y)9MFY259MFY26Description4.49 0.21 4.684.89Average TariffAverage Tariff* (₹/kWh) 9M FY 26 9M FY 25Fixed ChargesVariable ChargesOthersFixed Charges (per unit) increased due to:Lower GenerationNew capacities having higher fixedcharges* StandaloneAverage Tariff (₹/kWh)
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8 Coal Supply Position* (in MMT) % Change (Y-o-Y)Change (Y-o-Y)9MFY259MFY26% Change (Q3-o-Q2)Change (Q3-o-Q2)Q2 FY26% Change (Q3-o-Q3)Change (Q3-o-Q3)Q3 FY25Q3 FY26Description(4.41) (8.07)182.89174.8212.826.8153.10 (8.55) (5.60) 65.5159.91Domestic Coal (100)(2.26)2.26----(100) (0.24)0.24-Imported coal (5.58) (10.33) 185.15174.8212.826.81 53.10(8.88)(5.84) 65.7559.91Total* Standalone59.91 65.51 53.10 - 0.24 -Q3FY26 Q3FY25 Q2FY26COAL SUPPLY POSITION (Q3)Domestic CoalImported coal174.82 182.89 - 2.26 9MFY26 9MFY25COAL SUPPLY POSITION (9M)Domestic CoalImported coal
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Financial Performance9
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10 Financial Snapshot - Standalone Profit (in ₹Crore)% Change (Y-o-Y)Change (Y-o-Y)9MFY259MFY26% Change (Q3-o-Q2)Change (Q3-o-Q2)Q2FY26% Change (Q3-o-Q3)Change (Q3-o-Q3)Q3FY25Q3FY26Particulars3.9254413871144157.1833446535.8627647114987Profit for the periodChange (Y-o-Y)9MFY259MFY26Change(Q3-o-Q2)Q2 FY26ChangeQ3FY25Q3FY26Particulars-2847624784191-123255132Incentive 13-468-455659-488-67238171Disincentive 59713181915-537116784546630Dividend Income 1192483671975818471255Surcharge Income -240-468-70817-235-73-145-218RebateKey Financial InformationChange(Y-o-Y)9MFY259MFY26Change(Q3-o-Q2)Q2 FY26ChangeQ3FY25Q3FY26Particulars 570130151358513545183546184653Adjusted Profit
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11 Profit Bridge - Standalone to Consolidated (in ₹ Crore) (₹crore) FY259MFY259MFY26Q2FY26Q3FY25Q3FY26Description 196491387114415465347114987Standalone profit 4139190824411149546636Profit from Subsidiaries 221415811670582457612Share of profit from JVs 47-314---Provision/Reversal of impairment -681-389-689-433-37-219Dividend from Subsidiaries -1411-920-1212-726-510-411Dividend from JVs -45-902-8Other adjustments 239531605616931522551705597Consolidated Profit
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12 Profit of Subsidiaries (Y-o-Y) (in ₹Crore)Remarks9MFY259MFY26SubsidiarySl.No.COD of Khurja & Tehri PSP545846THDC India Ltd.1 Capacity addition and Other income242322NTPC Green Energy Ltd.2 Increase in Annual Fixed Charges Accounting Estimates248345Bhartiya Rail Bijlee Company Ltd.3 Decrease in Surcharge Income169146NTPC Vidyut Vyapar Nigam Ltd.4 Increase due to Higher Generation383619North-Eastern Electric Power Corporation Ltd.5 Decrease due to lower generation320132Ratnagiri Gas & Power Private Ltd.6 COD of Unit #1(800 MW)028Patratu Vidyut Urja Nigam Limited7 13Others8 1,9082,441Total
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13 Share of Profit of joint Ventures (Y-o-Y) (in ₹Crore)Remarks9MFY259MFY26JVSl.No.Due to Volume Growth and Gas Efficiency260617Hindustan Urvarak and Rasayan Ltd.1 Increase in AFC due to CERC Tariff Order143184NTPC Tamil Nadu Energy Company Ltd. 2 Due to Provision for Workman Profit Participation Fund369297Bangladesh-India Friendship Power Co. Pvt. Ltd.3 139156NTPC-SAIL Power Company Ltd. 4 Decrease in Surcharge Income272255Aravali Power Company Private Ltd. 5 Capital overhauling in previous year8098Jhabua Power Ltd.6 -207-214Energy Efficiency Services Ltd.7 CERC Tariff order accounted for during FY25517268Meja Urja Nigam Private Ltd.8 89Others9 15811670Total
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14 Other Key Financial Information (in ₹crore, unless stated otherwise)As at 31.12.2024As at 31.12.2025As at 31.12.2024As at 31.12.2025DescriptionConsolidatedStandalone105,854118,97090,28994,415Regulated Equity386,900454,223307,495332,051Gross Fixed Assets101,70182,47151,94946,061CWIP15,72019,94934,47836,262Investments in Subsidiaries & JVs215,608232,741163,915164,250Long-term debt (inc. current maturity)21,08625,46618,18021,965Short-term debt179,841194,909158,243170,193Total Equity5,7447,687--Non-controlling interests in total eq.1.321.321.151.09Debt Equity Ratio185.47208.93163.19175.52Book Value per Share (₹)
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Key Growth Pointers15
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16 Group Portfolio (Operation + Under Construction Capacity) (in MW)PortfolioConstructionOperationCapacity as on 31 December 2025672501252054730Coal4017-4017Gas1619811808Hydro14862451241Solar743721357660796NTPC Standalone472016003120Coal (Subsidiaries)97442400 7344Coal (JVs)2494-2494Gas (Subsidiaries)38198702949Hydro (Subsidiaries)1000250750PSP (THDC) (Subsidiary)38132160Solar (NEEPCO, THDC & NSPCL)113-113Wind (THDC) (Subsidiary)1300178105191Solar (NGEL & NREL) (Subsidiaries)33723176196Wind (NGEL & NREL) (Subsidiaries)408819852103Solar (NGEL JVs)1491970521Wind (NGEL JVs)1185953295885637NTPC GroupCoal8171469%Gas65116%Hydro64385%Solar1895616%Wind49764%Portfolio Capacity - 118595 MWCoal6519476%Gas65118%Hydro45075%Solar859510%Wind8301%Under Operation - 85637 MWCoal1652050%Hydro19316%Solar1036131%Wind414613%Under Construction - 32958 MW
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17 Capacity Under Construction (in MW) (as on 31 Dec, 2025)Capacity Coal Project1320Talcher Thermal1600Singrauli1600Lara800Darlipalli800Sipat2400Nabinagar1600Gadarwara2400Telangana12520NTPC Standalone1600Patratu, PVUNL (Subs.-74%)2400Meja II16520 NTPC Group Coal Total Capacity Hydro Project520Tapovan Vishnugad120Rammam171Lata Tapovan811NTPC Standalone444THDC Hydro (Subsidiary)426NEEPCO Hydro (Subsidiary)250THDC PSP (Subsidiary)1931NTPC GroupCapacity Renewable Projects245NTPC Standalone - Solar321NEEPCO/THDC/NSPCL – SolarNGEL Group7810NREL - Solar (Subs.-100%)3176NREL - Wind (Subs.-100%)310GVREL - Solar (Subs.-51%)800INGEL - Solar (JV-50%)340INGEL - Wind (JV-50%)875ONGPL - Solar (JV-50%)630ONGPL - Wind (JV-50%)9795NGEL Group - Solar4146NGEL Group - Wind13941NGEL Group Total14507NTPC Group RE TotalCapacity Grand Total16520Coal1931Hydro14507Renewables32958 NTPC Group Total
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New Frontiers- Nuclear and PSPNuclear 18 Mahi BanswaraAtomic Power Project (MBRAPP) under ASHVINI (JV Companywith NPCIL) of 2800 MW capacity (4 units of 700 MW each). Project receivedSiting ConsentandEnvironmental Clearance (EC)in May 2025.Hon’ble PrimeMinister laid the foundation stone of MBRAPP on 25 September 2025.Established a wholly owned subsidiary, NTPC Parmanu Urja Nigam Limited(NPUNL) in FY25 with Focus on Advanced Nuclear Technologies.Identified potential sites in multiple states and signed MOUs with MadhyaPradesh and Chhattisgarh.NDAs (Non-Disclosure Agreements) are being signed with the technologyproviders. Permission from DAE (Department of Atomic Energy) has been soughtto sign these NDAs.Request for authorization of NPUNL to build, own & operate NPPs has beensubmitted to DAE in August 2025.The Nuclear Training Centre at PMI, Noida commenced its first nuclear trainingin September 2025, strengthening nuclear energy capabilities. Pumped Storage Project (PSP)NTPC Group is strategically positioned with an impressive18 GW pumped storage portfolio.COD for 3 PSP Units of 250 MW each of THDC (TEHRIPSP U#1, U#2 and U#3 ) declared on 7 June 2025, 10July 2025 and 1 December 2025 respectively. Another250 MW is scheduled to be commissioned through Tehri PSPin current fiscal.Completed Preliminary Feasibility Reports for 21 projectsand Detailed Project Reports for 4 projects are in anadvanced stage.
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New Frontiers - BESS 19 Total FGD Planned – 69.9 GWBESS at Thermal Power Stations5000 MWh Battery Energy Storage System (BESS) capacity has been allocated to NTPC under the Viability Gap Funding (VGF)scheme of the Power System Development Fund (PSDF) to optimize the utilization of existing thermal generation and transmissioninfrastructure and to ensure reliable and economical power supply during non-solar hours.The allocated capacity is planned across 14 NTPC thermal power stations based on the availability of Unrequisitioned Surplus(URS) power.The project is being implemented under Section 62 of the Electricity Act, with the Techno-Economic Sub-Group (TESG)recommending VGF support for the initiative.The integration of BESS with thermal plants will reduce cycling, enable operation near optimal efficiency, lower maintenance andO&M costs, and enhance overall plant life.CERC has issued draft regulations allowing the installation of Battery Energy Storage Systems at thermal generating stations. Thisenables coal-based plants to remain online and support peak demand by supplying additional power through BESS during peakhours.
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20 Balancing payouts with GrowthCommitted to deliver sustainable value to shareholdersBalancing payout with deployment for growth plansHighest ever dividend on cash basis paid in FY25First Interim Dividend @₹2.75 per share paid for FY26 (₹2,667 crore) Second Interim Dividend declared @₹2.75 per share for FY26 (₹2,667 crore) 35,623 33,982 35,719 35,204 35,385 44,636 FY20 FY21 FY22 FY23 FY24 FY25Amount in ₹Crore(on Consolidated basis)2,36,104 2,72,694 3,08,125 3,38,436 3,73,696 4,04,210 FY20 FY21 FY22 FY23 FY24 FY25Growing Group CapexCAGR11.35%Growing Gross Fixed AssetsROE Expansion with Balanced Payouts 6,9967,8069,49410,16710,56411,55302,0004,0006,0008,00010,00012,00014,00016,00018,00020,000FY20 FY21 FY22 FY23 FY24 FY25Payout %, DividendRetained Earnings10,11313,76916,28217,19718,07919,650Gross Fixed Assets31.12.2025 -₹4,54,223 Crore 31.12.2024 -₹3,86,900 Crore Group Capex incurred during 9MFY26 -₹33,466 Crore 9MFY25 -₹30,779 Crore
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