NTPC Limited has released the transcript of its conference call held on January 30, 2026, with analysts and investors to discuss the company's results for the quarter and nine months ended December 31, 2025. During Q3 FY26, the NTPC Group added 1,744 MW, including 800 MW from Patratu thermal power station, 694 MW from renewables, and 250 MW from the THDC pumped storage project. Additionally, 468 MW of renewables were added in January 2026, bringing the total capacity addition in FY26 to 6,615 MW by the end of the 10-month period. The shareholders' agreement for the Sinnar thermal power plant (1,350 MW) was signed on January 9, 2026. Power demand increased by 6.3% in December 2025 and 4.89% in January 2026. NTPC Group generation grew by 8.82% in December 2025 and approximately 4% in January 2026. For the 9 months of FY26, NTPC Group generation was 320 billion units, with standalone generation at 261 billion units. The PLF of NTPC coal stations was 70.69% for the 9 months of FY26, compared to 60.79% for the rest of India. NTPC also commissioned India's first MWh-scale long-duration energy storage system, a 3-MWh vanadium redox flow battery pilot project, and a 3.7 MW solar project in Ladakh. Coal stock at NTPC stations was sufficient for about 18 days of generation. Outstanding receivable days improved to 26 days as of December 31, 2025. MSCI ESG ratings upgraded NTPC to 'B' from 'CCC'. Sectoral updates include CERC's draft regulation allowing battery energy storage systems at thermal generation stations, which is seen as a positive development. Distribution companies reported an overall profit of over ₹2,700 crores in FY25. The government has legislated the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Nuclear Act, positioning nuclear power as a key pillar for India's long-term baseload energy strategy. Peak power demand touched 245 GW on January 9, 2026. Financially, for NTPC standalone, total income for Q3 FY26 was ₹41,673 crores, and profit after tax was ₹4,987 crores, a growth of 5.85% year-on-year. For the group, profit after tax for the 9 months of FY26 was ₹16,931 crores, an increase of 5.45% year-on-year. Subsidiaries earned a profit of ₹2,441 crores in 9 months FY26, up 28% from the previous year. NTPC declared a second interim dividend of ₹2.75 per equity share for FY25-26. The company executed unsecured term loan agreements aggregating ₹5,000 crores. Group capex for 9 months FY26 was ₹33,466 crores. NTPC Green Energy Limited (NGEL) added 2,108 MW of renewable capacity in FY26, reaching a total commercial capacity of 8,010 MW by December 31, 2025. Consolidated revenue from operations increased by 23% to ₹1,946 crores in 9 months FY26, with operating EBITDA growing by 25%. Consolidated capex for 9 months FY26 stood at ₹11,653 crores. NGEL secured its maiden battery energy storage project of 80 MW/320 MWh and issued ₹1,500 crores of unsecured non-convertible debentures. NGEL plans to add 8 GW of capacity in FY27 and FY28. The company is focusing on long-duration energy storage systems and plans a 100-MWh redox battery system at its Khavda Solar project. The third unit of the Tehri pumped storage project has been commissioned, and the final unit is scheduled for commissioning before the end of the current financial year. NTPC Vidyut Vyapar Nigam registered a growth of over 14% in power trading.
