NTPC vs NHPC: share price, P/E, ROE and financials compared
NTPC and NHPC at a glance
NTPC and NHPC are both listed in Power. NTPC is the larger by market cap, at ₹3.1L Cr against ₹82,450 Cr for NHPC (3.8 times as large). On valuation, NTPC has the lower P/E (10.6× against 19.1×) and the lower price-to-book (1.47× against 1.89×). On returns and margins, NTPC has the higher ROCE (8.9% against 5.8%) and the higher ROE (14.5% against 9.6%), while NHPC has the higher operating margin (46.1% against 30.8%). Over three years, NTPC has faster 3-year profit growth (+16.9% against −1.2% a year). NHPC carries less debt for its equity, with a debt-to-equity of 1.13× against 1.26×.
Key metrics, side by side
| Metric | NTPCNTPC | NHPCNHPC |
|---|---|---|
| Price (₹) | 323.45 | 82.08 |
| Market cap (₹ Cr) | 3,13,639 | 82,450 |
| P/E | 10.6× (the lower figure, shaded) | 19.1× |
| P/B | 1.47× (the lower figure, shaded) | 1.89× |
| Dividend yield, trailing | 2.78% (the higher figure, shaded) | 1.96% |
| ROE | 14.5% (the higher figure, shaded) | 9.6% |
| ROCE | 8.9% (the higher figure, shaded) | 5.8% |
| Operating margin (OPM) | 30.8% | 46.1% (the higher figure, shaded) |
| Net margin (NPM) | 14.8% | 32.8% (the higher figure, shaded) |
| Sales CAGR 3Y | +1.9% | +2.0% |
| Profit CAGR 3Y | +16.9% (the higher figure, shaded) | −1.2% |
| Debt to equity | 1.26× | 1.13× (the lower figure, shaded) |
| Interest cover | 3.2× (the higher figure, shaded) | 1.9× |
| Net profit TTM (₹ Cr) | 29,726 | – |
| 1Y return | −4.2% | −4.2% |
| Promoter holding | 51.10% | – |
NTPC vs NHPC: common questions
Which is bigger, NTPC or NHPC?
By market cap, NTPC is bigger at ₹3.1L Cr, against ₹82,450 Cr for NHPC (prices as of 6 Nov 2026).
Which has a lower P/E ratio, NTPC or NHPC?
NTPC trades at a P/E of 10.6× and NHPC at 19.1×. 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, NTPC or NHPC?
NTPC reports a return on equity of 14.5% and NHPC 9.6%. NTPC has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, NTPC or NHPC?
Over the last three years: Sales grew +1.9% a year at NTPC and +2.0% at NHPC; profit grew +16.9% a year at NTPC and −1.2% at NHPC, so NTPC grew profit faster. Past growth doesn’t predict future growth.