Capitaline

Results 21-May-22

Analysis

NTPC

Sales up 23% and net up 14%

Consolidated net sales of NTPC for the quarter ended Mar 2022 has increased 23 % to Rs 37085.07 crore. Sales included earlier period capacity charges of Rs 1268.53 crore (up 840%), energy charges of Rs 126.34 crore (down 47%) and deferred tax of Rs 23.92 crore (up 11%). Operating profit margin has jumped from 25.8% to 30.8%, leading to 47% rise in operating profit to Rs 11426.82 crore. Other income fell 60% to Rs 639.35 crore. PBIDT rose 29% to Rs 12066.17 crore. Provision for interest rose 16% to Rs 2407.56 crore. Provision for depreciation rose 11% to Rs 3821.19 crore. Profit before tax grew 53% to Rs 5837.42 crore. Share of profit/loss was 9% lower at Rs 185.69 crore. Thus PBT before EO but after SoPA was up 50% to Rs 6023.11 crore. EO income was nil against an expense of Rs 3.15 crore. Thus PBT after EO was up 50% to Rs 6023.11 crore. Provision for tax was debit of Rs 1024.97 crore, compared to credit of Rs 960.66 crore. Thus PAT was flat at Rs 4998.14 crore. Regulatory Income (RI) was Rs 202.35 crore against an expense of RS 328.89 crore. Thus PAT after RI was up 12% to Rs 5200.49 crore. Minority interest decreased 70% to Rs 32.04 crore. Net profit attributable to owners of the company increased 14% to Rs 5168.45 crore.

Full year results analysis

Consolidated net sales has increased 19% to Rs 132669.28 crore. Sales for the period included earlier period capacity charges of Rs 1268.53 crore (up 840%), energy charges of Rs 765.29 crore (down 27%) and deferred tax of Rs 99.72 crore (up 5%). Operating profit margin has declined from 30.5% to 30.4%, leading to 19% rise in operating profit to Rs 40279.56 crore. Other income fell 42.10% to Rs 2325.03 crore. Provision for interest rose 1% to Rs 9315.98 crore. Provision for depreciation rose 10.74% to Rs 13787.83 crore. Profit before tax grew 20% to Rs 19500.78 crore. Share of profit/loss was 49.17% higher at Rs 1020.13 crore. EO was nil against an expense of Rs 1512.19 crore. Thus PBT after EO was up 33% to Rs 20520.91 crore. Provision for tax was expense of Rs 5047.1 crore, compared to Rs 2420.53 crore. PAT was up 18% to Rs 15473.81 crore. RI was down 22% to Rs 1486.48 crore. Thus PAT after RI was up 13% to Rs 16960.29 crore. Minority interest decreased 15.05% to Rs 283.84 crore. Net profit attributable to owners of the company increased 14% to Rs 16676.45 crore.

Other developments

Equity capital stood at Rs 9,696.67 crore as of 31 March 2022 to Rs 9,696.67 crore as of 31 March 2021. Per share face Value remained same at Rs 10.00.

Promoters’ stake was 51.10% as of 31 March 2022, compared to 51.10% as of 31 March 2021.

The Board of Directors has recommended final dividend of t 3.00 per equity share (par value 10/-each). The total dividend (including interim dividend) for the financial year 2021-22 is 7.00 per equity share (par value`° 10/-each).

Cash flow from operating activities increased to Rs 41,788.23 crore for year ended March 2022 from Rs 32,444.06 crore for year ended March 2021. Cash flow used in acquiring fixed assets during the year ended March 2022 stood at Rs 24,444.42 crore, compared to Rs 23,312.34 crore during the year ended March 2021.

NTPC : Consolidated Results
Particulars	202203 (3)	202103 (3)	Var.(%)	202203 (12)	202103 (12)	Var.(%)
Net Sales (including other operating income)	37085.07	30102.60	23	132669.28	111531.15	19
OPM (%)	30.8	25.8		30.4	30.5
OP	11426.82	7773.08	47	40279.56	33973.83	19
Other Inc.	639.35	1584.64	-60	2325.03	4015.68	-42
PBIDT	12066.17	9357.72	29	42604.59	37989.51	12
Interest	2407.56	2082.98	16	9315.98	9224.14	1
PBDT	9658.61	7274.74	33	33288.61	28765.37	16
Depreciation	3821.19	3457.24	11	13787.83	12450.31	11
PBT	5837.42	3817.50	53	19500.78	16315.06	20
Share of Profit/(Loss) from Associates	185.69	203.37	-9	1020.13	683.87	49
PBT before EO	6023.11	4020.87	50	20520.91	16998.93	21
EO Income	0.00	-3.15		0.00	-1512.19
PBT after EO	6023.11	4017.72	50	20520.91	15486.74	33
Taxation	1024.97	-960.66	-207	5047.10	2420.53	109
PAT	4998.14	4978.38	0	15473.81	13066.21	18
Regulatory Income	202.35	-328.89	-162	1486.48	1903.19	-22
PAT after RI	5200.49	4649.49	12	16960.29	14969.40	13
Profit from discontinued operations	0.00	0.00		0.00	0.00
Minority Int (Net of OCI attributable to non controlling interest) [MI]	32.04	106.62	-70	283.84	334.69	-15
Net profit	5168.45	4542.87	14	16676.45	14634.71	14
EPS (Rs)*	#	#		17.5	16.5
Notes
* EPS is on current equity of Rs 9,696.67 crore, Face value of Rs 10, Excluding extraordinary items.
# EPS is not annualised
bps : Basis points
EO : Extraordinary items
Figures in Rs crore
Source: Capitaline Corporate Database

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