Chairman's Statement

Consumption) and in FY26 (Till date), our production is 15 MMT. We are targeting to achieve 25% share from our captive mines by FY30.

Safety. Health and Environmental performance remain focus area. With strict protocols,regular training, and a work culture that prioritizes the well‑being of our people.

On behalf of the entire NTPC family, I want to sincerely thank you for your continued

trust and support. It is your confidence in our vision that enables us to keep raising the bar, year after year.

Key Highlights:

• Achieved 400 BU generation in just 335 days, which is 12 days less than the previous year, and a total generation of 439 BU for the year.
• A total of 3973 MW was added to NTPC’s portfolio in FY25, taking the total capacity to 80GW through both organic and inorganic expansion. And today this number has crossed 83 GW. In FY26 till date, we have added 3411 MW.
• Hon’ble Prime Minister laid foundation stone for the Pudimadaka Hydrogen Hub, which will produce a range of green hydrogen derivatives for domestic use and export.
• Revised our capacity addition targets from the existing 130 GW to 149 GW by 2032 and 244 GW by 2037.
• We have realized over 100% of our current bills with a total realization of ₹1,60,580 Crore ($18.89 billion) and our debtors stand at only 32 days of average billing.
• From FY26, we have advanced our billing cycle by 2 days resulting in annual savings of approximately ₹70 crore in working capital costs.
• We have registered a strong performance by achieving the highest-ever profit. PAT for FY25 stood at ₹23,953 Crore ($2.81 billion), on consolidated basis, registering an increase of over 12% over FY24.
• We continuously work to minimize financing costs through loan refinancing and restructuring. Recently, ₹4,870 crore of loans were refinanced, reducing interest rates by ~2%, and restructuring of ₹23,294 crore of loans achieved a rate cut of over 1%.
• For the 1st time, approval has been granted by RBI to raise ECB upto US$ 1 Billion to finance the capex requirements.
• We have optimized our ECR by 6 Paise/kWh in Q1 FY26 as compared to FY25 and 13 Paise/kWh as compared to FY24 by optimizing logistics and avoiding imported coal.

• Started work for setting up of CO₂ battery Storage project at Kudgi.
• Cabinet Committee approved for enhanced investment powers in NGEL from ₹7,500 Cr to ₹20,000 Cr to support our 60 GW RE target by 2032.
• Q1 FY26 marked NTPC’s highest-ever first-quarter capacity addition.
• Tehri Pumped Storage Plant Units I&II- 500 MW commissioned. The total project of 1 GW capacity will be commissioned by October-2025.
• After BIFPCL we have expanded our global footprint with the groundbreaking of the 50 MW Sampur Solar Project in Sri Lanka.
• We received Nil Comments from CAG for our annual accounts. This is a testimony to our governance practices.
• To strengthen our presence in nuclear energy, we have established a dedicated subsidiary, NTPC Parmanu Urja Nigam Ltd. The foundation stone of the Mahi Banswara Nuclear Project is expected to be laid by the Hon’ble Prime Minister in September, with execution to be undertaken by ASHVINI – a JV with NPCIL. In parallel, we are also exploring international collaborations to further enhance our nuclear capabilities.
• Awards & Recognition:
  • Ranked 368th in Forbes Global 2000 list.
  • RGPPL township first in India to receive Net Zero Water Certification.
  • Dulanga and Talaipalli mines received 5-star ratings from the Ministry of Coal.
  • Won First Prize at the 5th National Water Awards 2023.

India is now the world’s fourth largest and fastest‑growing major economy. It is on track to move up to third place, with a projected GDP of $7.3 trillion by 2030. This continuous

growth trajectory fuels a sharp rise in energy demand. As economic development accelerates, electricity demand in India is expected to grow at around 6.3% for the next three years; and NTPC stands at the forefront to meet this increasing demand.

The recent Union Budget has shown the Government of India’s strong focus on nuclear energy, and this fits perfectly with our vision of building a diversified and resilient energy portfolio. We are following a balanced path, adding both renewable and thermal capacities to make sure the nation gets reliable, uninterrupted power while also moving ahead with new technologies like energy storage, hydrogen, and nuclear.

This year, our subsidiaries and joint ventures also delivered an outstanding performance, adding strength to our integrated value chain. Our share of dividend from

these entities rose to ₹ 2101 Cr in FY25, compared to ₹ 1639 Cr last year. This steady growth shows that our strategic investments are delivering the right results.

We are committed to giving consistent returns to our shareholders and to maintaining our position as a trusted leader in the energy sector. NTPC has paid interim dividend of Rs. 5/equity share (Rs. 2.5 / equity share each in Nov 24 & Feb’25). Further Board of directors have recommended final dividend of Rs. 3.35/equity share subject to shareholders' approval in this Annual General Meeting. With this the total dividend payout for FY25 will be Rs. 8.35/share i.e nearly 42% of our profit.

On the front of the new thermal projects, we are focusing on completing the existing project pipeline of 12.3 GW. In addition, Limited Notice To Proceed has been issued for

3.2 GW (Telangana and Darlipalli) and tenders are being finalized for 2.4 GW taking our total under construction capacity to 18 GW. We’re also exploring inorganic growth opportunities in thermal assets. This approach to growth through acquisitions is helping us expand capacity faster while building even stronger relationships with the states.

For FY26, we are targeting a capacity addition of nearly 10 GW, comprising about 6 GW from renewables and the balance from thermal and hydro projects. In the current fiscal year, we have already commissioned 3,308 MW, marking steady progress towards this goal.

At NTPC, we’ve always believed that our people are our biggest strength. Whatever progress we’ve made is because of their dedication and talent. This focus on our people has been recognized globally. We were named among the “World’s Best Employers 2024” by Forbes and received the ATD Best Award for the eighth time. We’re proud to

be a true leader‑making organization, with many of our former colleagues now in top

roles across industry. From advanced training in new areas like AI and machine

learning, to activities that promote work‑life balance and community well‑being, we’re

making sure our workforce stays skilled, motivated, and ready for the future.

Our dedication to society goes beyond generating power; it’s about actively contributing

to a better future. This is reflected in our CSR initiatives.

Sound corporate governance is the bedrock of everything we do. We believe that strong governance not only promotes efficiency and drives growth but also builds lasting confidence among our stakeholders. That’s why we operate with the highest ethical

standards, going beyond regulatory requirements to ensure transparency, accountability, and fairness in every decision we make.

All these efforts- from our operations and financial strength to our growth strategy, sustainability focus, and strong governance give us the confidence that we can keep

creating long‑term value for our shareholders.

Growth opportunities

While we expand into new areas, our core strengths remain steady, reliable power generation, timely project execution, and alignment with the national priorities of providing uninterrupted and affordable power supply to the country while driving the energy transition.

We are expediting new capacities in coal, Renewables and nuclear. Additionally, we are exploring opportunities in green chemicals and other new technology areas. We are also expanding our international presence.

Our operations continue to support the country’s economic growth by supporting industries, households, and economic ambitions. At the same time, the sector is evolving, demanding not just scale, but also digital capabilities and a sharper focus on sustainability.

To meet these expectations, NTPC is enhancing digitalization across operations. From predictive maintenance to AI-driven planning, we are making our systems more agile and responsive. Our power plant operations and coal mining are setting new benchmarks in safety, efficiency, and sustainability, proving that even conventional energy can be future-compatible when managed with intent and innovation.

We are consistently striving to enhance power plant operations and maximize value within the regulatory framework. To achieve this, we are deploying advanced digital tools for resource optimization covering areas such as inventory management, minimizing machine downtime, and improving overall operational efficiency.

We have partnered with BARC for capability development in the nuclear domain.

These steps will enable us to navigate the evolving energy landscape, meet the growing demand, and contribute to India’s sustainable and inclusive growth thereby enhancing shareholders value.