NTPC Declares Rs 2.75 Interim Dividend and Reports Mixed Financial Performance for Q2 FY26

NTPC Ltd., India's largest integrated power company, has announced an interim dividend of Rs 2.75 per share for its shareholders. To qualify for this dividend, investors must purchase NTPC shares by today, as the record and ex-dividend date is November 7, 2025. In India, share settlements follow a T+1 system, meaning shares must be held before the ex-date to be eligible for dividends.

NTPC's financial performance in the September 2025 quarter showed net sales of Rs 44,785.82 crore, a slight increase from Rs 44,696.30 crore in the same quarter of the previous year. However, net profit decreased by 3.94% to Rs 5,066.78 crore from Rs 5,274.59 crore in September 2024. Meanwhile, EBITDA rose by 9.34% to Rs 13,292.03 crore compared to Q2FY25.

The interim dividend declared by NTPC is the first for FY26 and amounts to Rs 2.75 per share. Both the record date and ex-date are set for November 7, 2025. Investors need to ensure they own NTPC shares before this date to receive the dividend payout.

Patratu Vidyut Utpadan Nigam Limited (PVUNL), a subsidiary of NTPC Limited, recently announced that Unit #1 (800 MW) of Patratu STPP, Phase-I (3x800 MW), will commence commercial operations at midnight on November 5, 2025.

Riyank Arora, a technical analyst at Mehta Equities Ltd., commented on NTPC's stock performance: "NTPC sustains its strong bullish structure, trading near record highs with robust volume support. Immediate support lies near ₹322, while resistance is placed around ₹338-₹342. A breakout above ₹342 may extend the rally toward ₹355. RSI remains elevated, indicating continued buying momentum. The trend remains firmly positive, supported by expanding renewable capacity and healthy earnings visibility in the power generation space."

Axis Securities' research analysts maintain a BUY rating on NTPC stock. They value it using SoTP with the thermal business at 2.0x P/BV on Sep'27E consolidated regulated equity and RE business at CMP (NGEL) after accounting for a 90% stake and considering a 25% Holdco discount. PSP optionality is valued at Rs 23/share with CWIP and cash at 1x P/BV of FY25. Their target price of Rs 400/share suggests a potential upside of 16% from the current market price.

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