Adani Power vs NTPC: share price, P/E, ROE and financials compared
Adani Power
NTPC
Adani Power and NTPC at a glance
Adani Power and NTPC are both listed in Power. Adani Power is the larger by market cap, at ₹3.9L Cr against ₹3.1L Cr for NTPC (1.3 times as large). On valuation, NTPC has the lower P/E (10.6× against 21.6×) and the lower price-to-book (1.47× against 5.13×). On returns and margins, Adani Power has the higher ROCE (15.1% against 8.9%), the higher ROE (27.0% against 14.5%) and the higher operating margin (38.7% against 30.8%). Over three years, Adani Power has faster 3-year sales growth (+12.5% against +1.9% a year), while NTPC has faster 3-year profit growth (+16.9% against +6.2% a year). Adani Power carries less debt for its equity, with a debt-to-equity of 0.80× against 1.26×.
Key metrics, side by side
| Metric | Adani PowerADANIPOWER | NTPCNTPC |
|---|---|---|
| Price (₹) | 204.29 | 323.45 |
| Market cap (₹ Cr) | 3,93,967 | 3,13,639 |
| P/E | 21.6× | 10.6× (the lower figure, shaded) |
| P/B | 5.13× | 1.47× (the lower figure, shaded) |
| Dividend yield, trailing | 0.00% | 2.78% (the higher figure, shaded) |
| ROE | 27.0% (the higher figure, shaded) | 14.5% |
| ROCE | 15.1% (the higher figure, shaded) | 8.9% |
| Operating margin (OPM) | 38.7% (the higher figure, shaded) | 30.8% |
| Net margin (NPM) | 28.0% (the higher figure, shaded) | 14.8% |
| Sales CAGR 3Y | +12.5% (the higher figure, shaded) | +1.9% |
| Profit CAGR 3Y | +6.2% | +16.9% (the higher figure, shaded) |
| Debt to equity | 0.80× (the lower figure, shaded) | 1.26× |
| Interest cover | 6.2× (the higher figure, shaded) | 3.2× |
| Net profit TTM (₹ Cr) | 18,222 | 29,726 |
| 1Y return | +28.8% (the higher figure, shaded) | −4.2% |
| Promoter holding | 74.96% | 51.10% |
Adani Power vs NTPC: common questions
Which is bigger, Adani Power or NTPC?
By market cap, Adani Power is bigger at ₹3.9L Cr, against ₹3.1L Cr for NTPC (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹18,222 Cr for Adani Power and ₹29,726 Cr for NTPC.
Which has a lower P/E ratio, Adani Power or NTPC?
Adani Power trades at a P/E of 21.6× and NTPC at 10.6×. NTPC has the lower P/E. P/E is the share price divided by earnings per share; it varies a lot between industries and with growth, so it says little on its own.
Which has a higher ROE, Adani Power or NTPC?
Adani Power reports a return on equity of 27.0% and NTPC 14.5%. Adani Power has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, Adani Power or NTPC?
Over the last three years: Sales grew +12.5% a year at Adani Power and +1.9% at NTPC, so Adani Power grew sales faster; profit grew +6.2% a year at Adani Power and +16.9% at NTPC, so NTPC grew profit faster. Past growth doesn’t predict future growth.