NTPC vs Power Grid: share price, P/E, ROE and financials compared
NTPC
Power Grid Corporation of India
NTPC and Power Grid at a glance
NTPC and Power Grid are both listed in Power. NTPC is the larger by market cap, at ₹3.1L Cr against ₹2.4L Cr for Power Grid (1.3 times as large). On valuation, NTPC has the lower P/E (10.6× against 14.9×) and the lower price-to-book (1.47× against 2.26×). On returns and margins, Power Grid has the higher ROCE (11.2% against 8.9%), the higher ROE (15.7% against 14.5%) and the higher operating margin (82.3% against 30.8%). Over three years, NTPC has faster 3-year sales growth (+1.9% against +0.6% a year) and faster 3-year profit growth (+16.9% against +1.1% a year). NTPC carries less debt for its equity, with a debt-to-equity of 1.26× against 1.46×.
Key metrics, side by side
| Metric | NTPCNTPC | Power GridPOWERGRID |
|---|---|---|
| Price (₹) | 323.45 | 259.90 |
| Market cap (₹ Cr) | 3,13,639 | 2,41,723 |
| P/E | 10.6× (the lower figure, shaded) | 14.9× |
| P/B | 1.47× (the lower figure, shaded) | 2.26× |
| Dividend yield, trailing | 2.78% | 3.46% (the higher figure, shaded) |
| ROE | 14.5% | 15.7% (the higher figure, shaded) |
| ROCE | 8.9% | 11.2% (the higher figure, shaded) |
| Operating margin (OPM) | 30.8% | 82.3% (the higher figure, shaded) |
| Net margin (NPM) | 14.8% | 34.2% (the higher figure, shaded) |
| Sales CAGR 3Y | +1.9% (the higher figure, shaded) | +0.6% |
| Profit CAGR 3Y | +16.9% (the higher figure, shaded) | +1.1% |
| Debt to equity | 1.26× (the lower figure, shaded) | 1.46× |
| Interest cover | 3.2× | 2.8× |
| Net profit TTM (₹ Cr) | 29,726 | 16,196 |
| 1Y return | −4.2% (the higher figure, shaded) | −6.4% |
| Promoter holding | 51.10% | 51.34% |
NTPC vs Power Grid: common questions
Which is bigger, NTPC or Power Grid?
By market cap, NTPC is bigger at ₹3.1L Cr, against ₹2.4L Cr for Power Grid (prices as of 6 Nov 2026). Net profit over the last twelve months was ₹29,726 Cr for NTPC and ₹16,196 Cr for Power Grid.
Which has a lower P/E ratio, NTPC or Power Grid?
NTPC trades at a P/E of 10.6× and Power Grid at 14.9×. 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 Power Grid?
NTPC reports a return on equity of 14.5% and Power Grid 15.7%. Power Grid has the higher ROE. ROE is net profit as a share of shareholders’ equity.
Which is growing faster, NTPC or Power Grid?
Over the last three years: Sales grew +1.9% a year at NTPC and +0.6% at Power Grid, so NTPC grew sales faster; profit grew +16.9% a year at NTPC and +1.1% at Power Grid, so NTPC grew profit faster. Past growth doesn’t predict future growth.