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NTPC Ltd
BSE:532555

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NTPC Ltd
BSE:532555
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Price: 402.25 INR -0.81%
Market Cap: ₹3.9T

EV/EBITDA

10.4
Current
10%
More Expensive
vs 3-y average of 9.4

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
10.4
=
Enterprise Value
₹5.5T
/
EBITDA
₹539.8B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
10.4
=
Enterprise Value
₹5.5T
/
EBITDA
₹539.8B

Valuation Scenarios

NTPC Ltd is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (9.4), the stock would be worth ₹364.67 (9% downside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-17%
Maximum Upside
+70%
Average Upside
15%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 10.4 ₹402.25
0%
3-Year Average 9.4 ₹364.67
-9%
5-Year Average 8.7 ₹335.78
-17%
Industry Average 12.2 ₹469.92
+17%
Country Average 17.7 ₹682.37
+70%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
₹5.5T
/
Jan 2026
₹539.8B
=
10.4
Current
₹5.5T
/
Mar 2026
₹578.9B
=
9.5
Forward
₹5.5T
/
Mar 2027
₹645.4B
=
8.5
Forward
₹5.5T
/
Mar 2028
₹702.8B
=
7.8
Forward
₹5.5T
/
Mar 2029
₹862.9B
=
6.3
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
IN
NTPC Ltd
BSE:532555
3.9T INR 10.4 16.1
US
Vistra Corp
NYSE:VST
53B USD 14.1 70.5
SA
ACWA Power Co
SAU:2082
184.5B SAR 64.7 99.6
IN
Adani Power Ltd
NSE:ADANIPOWER
4.1T INR 21.5 35.2
CN
CGN Power Co Ltd
SZSE:003816
235.3B CNY 22.3 24.1
CN
China National Nuclear Power Co Ltd
SSE:601985
187B CNY 20.2 21.7
TH
Gulf Energy Development PCL
SET:GULF
840.4B THB 44.8 39.3
DE
Uniper SE
XETRA:UN0
17.4B EUR 8 12.5
CN
SDIC Power Holdings Co Ltd
SSE:600886
108.1B CNY 12.9 16.5
US
Talen Energy Corp
NASDAQ:TLN
15.8B USD 63.2 -72.8
CN
Huaneng Power International Inc
SSE:600011
97.7B CNY 11.9 8.4

Market Distribution

Lower than 76% of companies in India
Percentile
24th
Based on 2 785 companies
24th percentile
10.4
Low
0.4 — 11.9
Typical Range
11.9 — 27.8
High
27.8 —
Distribution Statistics
India
Min 0.4
30th Percentile 11.9
Median 17.7
70th Percentile 27.8
Max 47 834.4

NTPC Ltd
Glance View

NTPC Ltd., often regarded as the powerhouse of India's energy sector, is a leading player in the realm of power generation. Originating its journey with a humble beginning in the late 1970s, NTPC was set up as a public sector enterprise by the Indian government with a vision to address the energy demands of a growing economy. Over the years, NTPC has evolved into the largest energy conglomerate in India, adeptly balancing the blend of traditional fossil fuels and renewable energy sources. The company strategically harnesses coal, gas, hydro, and renewables, thereby ensuring a diversified energy mix that aims to deliver consistent and reliable electricity. By being at the forefront of the technological advancements and innovations in power generation, NTPC maintains its edge in energy efficiency and sustainable development. In its operational model, NTPC generates revenue primarily from selling electricity to state utilities and other bulk consumers. With its comprehensive network of power plants strategically distributed across various locations, it capitalizes on economies of scale, lower production costs, and efficient resource management. The company enters into long-term Power Purchase Agreements (PPAs) with state-owned distribution companies, securing a stable income stream and minimizing market volatility. Advancing with its commitment to sustainability, NTPC is actively increasing its footprint in the renewable energy segment, underscoring its strategic move to adapt to the global shift towards cleaner energy. This dual-focus on maintaining substantial coal-based power while scaling up renewable initiatives positions NTPC at a vital junction of meeting India's energy needs while addressing environmental concerns.

NTPC Intrinsic Value
488.21 INR
Undervaluation 18%
Intrinsic Value
Price ₹402.25
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