Meeting Overview
• Date: August 2, 2024
• Focus: Operational and financial progress of NTPC Limited
• Leadership: CMD Shri Gurdeep Singh and key directors presented insights
Company Transformation
• Shift from thermal power generator to sustainable integrated energy company
• Emphasis on enhancing shareholder value
Key Highlights from CMD
• NTPC supplies 25% of India's power
• Plans to invest in 26 GW of thermal capacity
• 9.5 GW under construction
• 8 GW in tendering
• Upcoming nuclear project in Rajasthan
• Commitment to decarbonization and renewable energy initiatives
• Recognition for ESG efforts and corporate governance
Energy Focus Areas
• Nuclear, coal, and renewable energy (solar, wind, storage)
• Ongoing hydro projects with a total capacity of 2,626 MW
• Projected capital expenditure of ₹7 lakh crore by 2032
• Development of a future-ready workforce
Financial Overview
• NTPC's installed capacity: 76 GW, aiming for over 130 GW by 2032
• Highest profit reported: ₹18,079 crore in FY24
• Robust payment security mechanism and long-term coal supply agreements
• Plans for 25% coal requirements from captive mines by FY30
Conference Call Insights
• Questions from analysts regarding project execution, renewable IPO timing, and DISCOMs' resistance
• CMD reassured about project execution and ongoing discussions for nuclear capacity
• Emphasis on hydrogen hub development in Andhra Pradesh
• Long-term capital expenditure outlook of ₹1 lakh crore annually
Regulatory and Market Considerations
• Preparedness for evolving regulations on carbon taxes and emissions
• Discussion on the need for a deeper short-term power market
• NTPC's diverse energy portfolio and surplus power sales in the open market
Conclusion
• The meeting concluded with gratitude expressed to management and participants, highlighting NTPC's commitment to growth and sustainability.

NTPC Limited Conference Call Summary (May 24, 2024)
Financial Performance
• Fourth Quarter and Fiscal Year Results:
• Total income: ₹165,707 crore; PAT: ₹18,079 crore (5% increase YoY).
• Group total income: ₹1,81,166 crore; PAT: ₹21,332 crore (25% rise).
• Dividend announced: ₹7.75 per share (up from ₹7.25 in FY23).
• Standalone regulated equity increased by 13%.
Operational Achievements
• Capacity and Generation:
• Added 3,924 MW of commercial capacity.
• Group generation increased by 6% to 422 billion units.
• 3.6 GW of renewable energy projects commissioned; 8.4 GW under construction.
• Trade Receivables:
• Reduced to 31 days of sales from 36 days.
Renewable Energy Initiatives
• Future Plans:
• 15.2 GW of thermal capacity to be awarded soon.
• Target to enhance coal mining capacity to 50 million tonnes annually within three years.
• Investments in FGD projects for SOx emissions reduction and biomass co-firing initiatives.
• Green Hydrogen Projects:
• Multiple MOUs signed for green hydrogen and sustainable solutions.
• Pilot projects in e-mobility and a hydrogen hub in Pudimadaka.
Medium-Term Plans
• Renewable Energy Capacity:
• Anticipated commissioning of 3 GW in the current year, 5 GW in FY25, and 8 GW in FY26.
• Pumped Storage Hydro (PSP) and Nuclear Energy:
• 1,000 MW PSP project in Tamil Nadu; targeting 10 GW total.
• Joint venture with NPCIL for a nuclear project in Rajasthan expected to receive cabinet clearance soon.
Financial Outlook
• Profit Contributions:
• Adjusted PAT for Q4: ₹5,107 crore (6% increase YoY).
• Full-year adjusted PAT rose by 2% to ₹16,405 crore.
• Future CAPEX:
• Projected annual CAPEX of ₹35,000 to ₹50,000 crore for the next few years.
Debt-Equity Strategy
• Thermal and Renewable Sectors:
• Thermal business to maintain a 70:30 regulated equity ratio.
• Renewable sector strategy will vary based on bidding processes.
Upcoming Initiatives
• IPO Plans:
• NTPC Green Energy Limited IPO tentatively scheduled for October or November.
• Technological Exploration:
• Commitment to new technologies, including small modular reactors (SMRs) and battery energy storage systems.
Conclusion
• Management expressed gratitude for participant engagement and addressed inquiries regarding financial strategies and operational plans.

NTPC Limited Q3 FY24 Conference Call Summary
Financial Performance
• Standalone Capacity: Reached 57,838 MW, 5% increase in gross generation YoY.
• Q3 FY24 Income: Total income of ₹40,288 crore, slight decrease from previous year.
• Profit After Tax (PAT):
• Q3 FY24: ₹4,572 crore (2.14% increase).
• Nine-month period: ₹12,523 crore (8.66% increase).
• Interim Dividend: Announced ₹4.50 per share for FY24.
Operational Highlights
• Coal Production: Achieved record levels.
• Renewable Energy Commitment: Significant projects underway.
• Awards:
• Gold Award for Annual Report at SAFA Best Presented Annual Report Awards.
• Star Rating Awards for sustainable mining practices.
• Listed as one of "World’s Best Employers 2023" by Forbes.
Management Insights
• Profitability: Increased overall despite regulatory deferrals.
• Incentives: Reported at ₹124 crores for the quarter, ₹462 crores for nine months.
• Future Capacity Plans:
• 16.8 GW thermal capacity addition planned.
• Key projects: Singrauli 3, Sipat 3, Darlipalli.
Project Updates
• Upcoming Tenders: 5,600 MW expected in Q1 and Q2 of next year.
• Environmental Clearances: In place for Singrauli; pending for Sipat and Darlipalli.
• Renewable Capacity:
• 3.3 GW commissioned, 7.8 GW under execution.
• Target to commission 1 GW by March and 3 GW in the following year.
Challenges and Projections
• Under-Recovery Figures: Projected around ₹400-450 crores by FY24.
• Conventional Capacity Additions: On track for 3,580 MW this year, with future plans for 4 GW in FY25 and 2.7 GW in FY26.
• Pumped Storage Projects: Target reduced to 7 GW, with significant contributions from Tamil Nadu and Maharashtra.
Future Outlook
• Capex Projections: ₹22,700 crores for the next year, funded through a 70-30 debt-equity ratio.
• Power Demand-Supply Scenario: Significant increases in peak demand and renewable capacity expected by 2032, with continued need for thermal capacity.
Green Hydrogen Initiatives
• Maharashtra Government Investment: MOU for up to ₹80,000 crores in green hydrogen projects over five years.
• Demand for Green Hydrogen: Expected to rise as IPPs seek off-take agreements, though challenges remain.
Conclusion
• Management expressed gratitude to participants and offered to address further questions directly.

NTPC Limited Conference Call Summary (Q2 FY24)
Key Highlights
• Capacity Addition
• 1,570 MW of commercial capacity added, including 110 MW from renewables.
• Total capacity: 57,838 MW standalone; 73,824 MW group.
• Financial Performance
• Generation increased to 212 billion units in H1 FY24 (up 4% YoY).
• Q2 FY24 total income: ₹41,517.87 crore; PAT: ₹3,885.01 crore (16.62% YoY increase).
• Group PAT for H1 FY24: ₹9,633.53 crore (30.26% YoY increase).
Operational Updates
• Capital Expenditure
• Group CAPEX for H1 FY24: ₹13,203.60 crore (down from ₹16,664.19 crore YoY).
• Standalone CAPEX forecast for FY24: ₹22,454 crore.
• Renewable Energy Initiatives
• Commissioned 3,314 MW of projects; constructing 7,258 MW.
• Plans for an additional 10 GW of renewable capacity.
• MOUs signed with UPRVUNL and ONGC for renewable projects.
Environmental Initiatives
• Implementation of Flue Gas Desulfurization (FGD) systems to reduce SOx emissions.
• Achieving 100% ash utilization at several stations.
• CSR initiative in archery contributing to international success.
Awards and Recognition
• Named one of the "World's Best Employers 2023."
• Recognized for digital transformation and technology transfer.
Future Plans and Challenges
• Pump Storage Projects
• Identified as a potential developer for 11,550 MW of pump storage capacity.
• Targeting 5,300 MW with an additional 8,500 MW identified.
• Financial Strategy
• Balanced mix of debt and equity financing for projects.
• Adjusted PAT for Q2 FY24: ₹3,497 crore (down from ₹3,601 crore YoY).
• Renewable Capacity Goals
• Long-term target: 60 GW of renewable capacity by FY32; 15 GW by FY26.
• Challenges in renewable capacity additions due to clearance delays.
Profit Variations
• Significant profit variation from subsidiaries and joint ventures (~₹1,200 crore).
• Expectation of profit difference to remain between 15-20% in FY25.
Upcoming Projects
• THDC pump hydro project expected to have the first unit operational by early 2024.
• Thermal capacity additions: 1,460 MW achieved; 1,480 MW planned for FY25.
Pricing and Cost Structure
• Pump storage projects to use a cost-plus model for pricing.
• Estimated storage costs: ₹3.50 to ₹4.00 per unit; total costs could range from ₹7.25 to ₹8.25 including tariffs.
Conclusion
• Management expressed optimism about future projects and thanked participants for their engagement.

NTPC Limited's 19th Annual Analysts and Investors Meet Summary
Meeting Overview
• Date: August 4, 2023
• Focus: Insights from management on operational and financial performance.
• Key Participants: Chairman and Managing Director (CMD), Director of Finance, and board members.
Financial Performance
• Strong performance in FY 22-23 despite global fuel uncertainties.
• EPS growth of 5.6%.
• Recommended final dividend of Rs.3 per share, totaling Rs.7.25 for the year.
Renewable Energy Progress
• Surpassed fossil capacity additions for the first time with a 20 GW renewable pipeline.
• Achieved capacity addition of 3,292 MW.
• Record power generation of 399 billion units.
Sustainability and ESG Commitment
• Focus on improving ESG rating and water consumption targets.
• Significant reduction in water consumption and increase in ash utilization.
• Investment of Rs. 353 crore in CSR initiatives, particularly for girl empowerment.
Future Plans
• Aim to add 6 GW of capacity in FY 23-24, including renewable and coal-based projects.
• Exploring green hydrogen and nuclear energy opportunities.
• Strategic decision to halt search for a strategic investor for NTPC Green Energy Limited, with plans for an IPO.
Corporate Strategy
• Vision to be a key player in India's energy transition and economic growth.
• Plans to expand capacity to over 130 GW by 2032, including 60 GW of renewable energy.
• Comprehensive strategy termed "Brighter Plan" focusing on net-zero emissions.
Operational Efficiency
• High plant load factor and record generation levels.
• Robust financial health with record revenue and profit.
• Focus on safety and fuel security through long-term coal supply agreements.
Analyst Inquiries
• Questions regarding peak power deficit, IPO plans, and coal business separation.
• Discussion on capital expenditure for renewable projects and hydrogen transportation viability.
Transition to Mining Operations
• NTPC Mining Limited (NML) to focus on captive coal blocks and potential mineral expansions.
• Emphasis on pumped storage systems for renewable energy.
Conclusion
• NTPC is positioned for sustainable growth, focusing on operational excellence and shareholder value.
• Acknowledgments to analysts and investors for their support during the meeting.

NTPC Limited Conference Call Summary (May 19, 2023)
Financial Highlights
• Total Income: ₹167,724 crore for FY23, a 34.45% increase.
• Profit After Tax: ₹17,197 crore, up 5.62%.
• Revenue: ₹154,356 crore, exceeding 100% of billed amount.
• Trade Receivables: Reduced to ₹15,964 crore, from 45 days to 36 days of sales.
• Coal Production: Increased by 65%.
Operational Achievements
• Capacity Addition: 3,952 MW, total capacity now 56,368 MW.
• Electricity Generation: 399 billion units, an 11% increase from the previous year.
• Plant Load Factor (PLF): 76%, a 5% increase year-over-year.
• Capital Expenditure: ₹35,204 crore for the year.
Dividends
• Final Dividend: Recommended at ₹3 per share, following an interim dividend of ₹4.25.
Renewable Energy Initiatives
• Operational RE Capacity: 3.2 GW, with over 20 GW in the pipeline.
• Target: 60 GW RE capacity by FY32.
• Projects: 16 GW targeted by FY26, with 3.3 GW commissioned and 4.6 GW under execution.
Strategic Plans
• Bidding Target: 11 to 12 GW per quarter, focusing on RE-RTC and hybrid tenders.
• Module Procurement: Plans for long-term sourcing agreements, not pursuing in-house manufacturing.
• Storage Solutions: Exploring cost-competitive options, primarily pump storage.
Market Engagement
• Commercial and Industrial Segment: Actively pursuing new customers, signing large deals.
• Thermal Capacity Addition: Targeting around 6 GW in new projects by fiscal year-end.
Recognition and Awards
• NTPC recognized as the top independent power producer globally, with multiple awards for sustainability and digital transformation.
Conclusion
• Management expressed optimism for growth in renewable energy and plans to provide further information as requested.

NTPC Limited Conference Call Summary (January 28, 2023)
Financial Performance
• Q3 FY23 Results:
• Total income: ₹42,149 crore (up 35.26%)
• Profit after tax (PAT): ₹4,476 crore (up 5.42%)
• Nine-Month Results:
• Total income: ₹124,685 crore
• PAT: ₹11,524 crore (up 8.07%)
Operational Highlights
• Capacity Expansion:
• Added 630 MW of renewable capacity; total capacity: 58,269 MW
• NTPC Group generated 295 billion units (11% increase YoY)
• Capital Expenditure:
• Group CAPEX: ₹26,058 crore (up from ₹25,064 crore YoY)
• Standalone CAPEX projected at ₹22,454 crore for FY23
Renewable Energy Initiatives
• Capacity Additions:
• Over 1.3 GW added in FY23; 3,154 MW of renewable projects commissioned
• Plans for 24 GW of Ultra Mega Renewable Energy Power Parks
• Nuclear Power Ventures:
• Joint venture with NPCIL for Pressurised Heavy Water Reactors (PHWR)
• Long-term goal of 20,000 MW by 2050
Trading and Subsidiary Performance
• Energy Transactions:
• 24% increase in transactions through NVVN
• Profit Declines:
• Subsidiary profits: ₹1,290 crore (down from ₹1,391 crore YoY)
• Joint venture profits: ₹481 crore (down from ₹834 crore YoY)
Future Plans and Projects
• Capacity Additions:
• 6,100 MW planned for FY24 and FY25
• 42 GW in feasibility and planning, primarily in renewable energy
• Nuclear Power:
• 2,000 MW addition planned by 2032
Financial Insights
• Cost Increases:
• Finance costs up by ₹524 crore in Q3 due to exchange rate variations
• Ash transportation costs decreased slightly to ₹1,225 crore
• Late Payment Surcharges:
• ₹67 crore for Q3; ₹459 crore for nine months
Management Responses
• Operational Strategies:
• Gas plants provide peaking power, reaching full load in 25 minutes
• Renewable Energy Pipeline:
• Strategy for 60 GW, including 40 GW through competitive bidding
• Concerns Addressed:
• Rising expenses attributed to exchange rate variations and operational costs
Conclusion
• Management provided insights into operational strategies, financial performance, and future plans in renewable energy and gas operations, concluding the call with gratitude for participant questions.