NTPC vs NLC India: share price, P/E, ROE and financials compared
NTPC and NLC India at a glance
NTPC and NLC India are both listed in Power. NTPC is the larger by market cap, at ₹3.1L Cr against ₹32,948 Cr for NLC India (9.5 times as large). On valuation, NLC India has the lower P/E (8.3× against 10.6×) and the lower price-to-book (1.41× against 1.47×). On returns and margins, NLC India has the higher ROE (15.8% against 14.5%). Over three years, NLC India has faster 3-year sales growth (+2.7% against +1.9% a year) and faster 3-year profit growth (+36.1% against +16.9% a year). NLC India carries less debt for its equity, with a debt-to-equity of 1.04× against 1.26×.
Key metrics, side by side
| Metric | NTPCNTPC | NLC IndiaNLCINDIA |
|---|---|---|
| Price (₹) | 323.45 | 237.61 |
| Market cap (₹ Cr) | 3,13,639 | 32,948 |
| P/E | 10.6× | 8.3× (the lower figure, shaded) |
| P/B | 1.47× | 1.41× (the lower figure, shaded) |
| Dividend yield, trailing | 2.78% (the higher figure, shaded) | 1.62% |
| ROE | 14.5% | 15.8% (the higher figure, shaded) |
| ROCE | 8.9% | 9.3% |
| Operating margin (OPM) | 30.8% | 31.4% |
| Net margin (NPM) | 14.8% | 20.9% (the higher figure, shaded) |
| Sales CAGR 3Y | +1.9% | +2.7% (the higher figure, shaded) |
| Profit CAGR 3Y | +16.9% | +36.1% (the higher figure, shaded) |
| Debt to equity | 1.26× | 1.04× (the lower figure, shaded) |
| Interest cover | 3.2× | 4.2× (the higher figure, shaded) |
| Net profit TTM (₹ Cr) | 29,726 | – |
| 1Y return | −4.2% (the higher figure, shaded) | −7.9% |
| Promoter holding | 51.10% | – |
NTPC vs NLC India: common questions
Which is bigger, NTPC or NLC India?
By market cap, NTPC is bigger at ₹3.1L Cr, against ₹32,948 Cr for NLC India (prices as of 6 Nov 2026).
Which has a lower P/E ratio, NTPC or NLC India?
NTPC trades at a P/E of 10.6× and NLC India at 8.3×. NLC India 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 NLC India?
NTPC reports a return on equity of 14.5% and NLC India 15.8%. NLC India has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, NTPC or NLC India?
Over the last three years: Sales grew +1.9% a year at NTPC and +2.7% at NLC India, so NLC India grew sales faster; profit grew +16.9% a year at NTPC and +36.1% at NLC India, so NLC India grew profit faster. Past growth doesn’t predict future growth.