← Throughline · holding view Deep analysis ↗ Q1 FY26
NTPC NTPC Limited · Power & infra Q1 FY26 · concall
Pattern: additional capacity beyond pipeline

Highest ever annual addition 9618 MW, group crossed 90 GW.

9 weak · 11 clean — pushback across 9 of 20 Q&A turns

Focused evidence 9 of 20

Mohit Kumar · ICICI Securitiesweak

How much do you think NTPC can add or should add more, apart from the already announced pipeline? My second question is, many of the states are putting up capacities under the DBFO model? Do you think there is a case for us to participate in a state-based bid to add more capacity to pipeline?

So, I did mention to you that we will be having 26 to 27 gigawatt addition to around 62 gigawatt, whatever it is commissioned. So, it should be around 88 to 89 as of today. We have the appetite to add another double-digit number in our existing plants. So, we have sufficient headway. Now coming back to the second part of the question, every company has its own strategy. In the past you have seen whose strategy has been right or not right. Can I leave it here or do you want me to explain? We have decided we are going ahead with the existing Brownfield projects mainly for the pit head and that will be cost -plus as of today. So tomorrow we can change our strategy, that is a separate issue. But in the today's situation where the equipment is a constraint, where the transmission network is taking a little longer. So , all the right of way, whether it's a transmission line, whether it's a water line, whether it's anything else, it's taking a little longer time. Brownfield expansion , in my opinion , makes far better sense than starting the new greenfield. That does not mean that one should not start. I'm not saying that. But if you are already having the kind of your appetite or the capacity available, in the form of the land and the other infrastructure, why not utilize that?

Girish · Morgan Stanleyweak

So is there any upside because you've spoken about bigger number in nuclear in the past.

Yes. But that is something only up to the time. See, the nuclear takes a little longer period. I think that's what.

Subhadip Mitra · Nuvamaweak

So, on the renewable side, in the overall 60 gigawatt plan that we have, what is the progress in terms of signing up of new PPAs or MOUs, if you can give us a split of that?

Yes. I just did mention that we have brought the CEO of the renewable with us so he can share. But what we are doing, this REIA or the PPAs, This is going to be a mix of the two in the sense that there will be PPAs, there will be some flexible utilization, there will be some merchant. But we are on track to achieve that 60 gigawatt by 2030.

Subhadip Mitra · Nuvamaweak

So, like you are looking at co -locating batteries with a thermal plant, is there any thought of co-locating batteries with existing plain vanilla solar plants.

You have really asked a very pertinent question. Going forward, most of the bids may be with some storage. This discussion is going on. And there is a time we are also discussing with some of the states that whatever plant we have put up and that power, whatever is available during the day, we can provide the same power at an incremental cost and incremental rate, whatever it is, in the evening peak hour s. So those things are bound to come. But we are also not that aggressive at this point of time, realizing that there is a lot of correction which is happening in the storage, both technological side as well as the cost side.

Sumit Kishore · Axis Capitalweak

My first question is on green hydrogen, you know, in terms of your plans at Pudimadaka and over the next 4-5 years, where do you see NTPC's investment scale for green hydrogen production and what kind of commitment is NTPC making for the next 5-6 years on green hydrogen?

Frankly, let me share with you that it is going to be sizeable, but at the same time there was some kind of wait and watch for the hydrogen related. And you know very well what has happened, after January this year, some declarations on this kind of net zero, etc., this climate and other things obviously. But if you speak to all the Europeans or the other part of the world, this remains intact. So, as I said, there was some time lag. So, let us not get into the numbers there, but the Pudimadaka itself is going to be around INR 85,000 crore total investment. Whether we are going to do from total on the balance sheet of NGEL, or whether we can also try to start having the model of facilitating others and try to charge. This can be a kind of SEZ model where you can enable people to come, and you can charge on that. But there will be a siz eable investment from our side. Because at the end, this is the coastal location, and this is the best part is that this will be proving to be a good export-oriented place. And if, let's say there is an off taker, he wants to join hands with us, or he wants to invest in that, we should be flexible on that. So put together, it will be around INR 80 to 85,000 crore of the total investment in that.

Sumit Kishore · Axis Capitalweak

Intuitively, just INR 6 to INR 8 appears way higher.

See, the INR 6 to INR 8 looks to be higher, but with passage of time it will stabilize. I don't know whether we should discuss this point, but take it granted that there will be some cost to the environment.

Sharad Chandra · Investment Advisorweak

There was a slide in which there was a possibility of selling directly to Commercial and Industrial Consumers. So how does that work? Do you have your own transmission line? And what is a power purchase agreement? Is it regulated, unregulated? Question number two, currently you have about 15% of your capacity in renewable. By FY32, it will be about 40% renewable. So, the question is, the problem India faces today, we have a surplus capacity. But the peak load can't be serviced. So, when there is a peak load requirement at that time, because lack of battery storage and other things which are developing, there is a power outage. And that may also be primarily due to poor quality of DISCOMs networks. So, these two areas, if you can just highlight, why not invest more in thermal to keep that peak demand requirement to be satisfied?

We discussed that we are investing in thermal also. No, 27. No, that is okay. Percentage-wise you are talking about. So, with that, there is going to be some kind of price coming down in case of energy storage also. I did mention that. And we will have to find a balance that how much we should do. Let's not try to put these new coal -based plants to run only during non -solar hours. That is something which should be clarity then, at least for the power professionals. Directly. C&I is through the power purchase agreement and the open access system. So, this is a bilateral contract. You can see the type of bilateral contracts between the seller and the buyer through the open access.

Sharad Chandra · Investment Advisorweak

And rate of return is not regulated? So, is there any target by FY32 on this front?

Rate of return is not regulated. But there can be an arrangement where we can have a cost-plus arrangement also on a negotiated basis. Though it is not regulated. No. we are not chasing in a compulsive way. I mean, we continue talking and we are finding, this is a way of ensuring some off -take guarantees besides participating, because this will lead to better returns. So, it is a kind of sweetening of our portfolio.

Ramesh Bhojwani · Mehta and Vakilweak

We have our nine coal mines and we have mined 45 million metric ton against a peak capacity of 91.6 million metric ton. Two thoughts on that. When we are mining our own coal from our mines, is the cost of coal cheaper to us than we get the coal from Coal India Limited?

See, the primary idea of NTPC getting into its own captive mines is , the more preponderant thing is fuel security. Isn't it? Evidently, Coal India is sitting over a lot of legacy mines which was opened. Probably they were very good in the merit order with good stripping ratios. Increasingly the latest mines are going to be those which may have a larger stripping ratio. So, they have been auctioned. So, comparing an average of the coal prices, which may be 30 years old, 25 years old, with the latest one, with the latest capital cost, it won't be comparable. Isn't it? Definitely, if you take on a mine-to-mine basis, it is going to be different. But what we should ideally do is we should compare our latest mine with their latest mine. Isn't it? I think those are comparable.

▸ Other Q&A (11)
Girish · Morgan Stanley

Just color on the INR 7 lakh crore breakup as to how much of nuclear is included there and PSP?

I think Nuclear is only around 2 gigawatt in that.

Girish · Morgan Stanley

Sure. And how much is PSP of that in 7 lakh crore number?

The hydro total is around 70,000. So, in that itself the PSP is taken care.

Girish · Morgan Stanley

Sir, 7.2 gigawatt is what you expect to order on Thermal this financial year? Or will it be combination spillover in next year as well? And we should expect about INR 11 crore to INR 12 crore per megawatt?

Yes. No. This financial year we said. You will be lucky enough if you can get in that. And that too also with the brownfield , by the way. Yes, please correct me if there is anything there. Please feel free to just intervene or correct me if there is anything.

Subhadip Mitra · Nuvama

Follow-up on PPA breakdown across years for renewable plan.

Out of this, the initial phase 30 gigawatt if you talk about that, over the next 3 years, current year plus next two years would be roughly around 20 gigawatt and the balance would be in the next 2 years. As far as the current year's 4465 megawatt is concerned, 100% land connectivity is there, PPA is 87% tied up. Next year 8196 megawatt is there, close to 80% PPA is tied up and 100% again land and 82% connectivity is available. And for the year next, 8 gigawatt, more than 93% of land is tied up, 76% connectivity is there and close to 60% of the PPA is in place.

Apoorva · IIFL

Sir, you gave an interesting update on battery at Barauni, right? So, would you like to throw some more light on that, the rationale of co -locating it at a coal power plant and the opportunity with other states as well?

Yes, it is going to be with almost every state, you can assume. At least all the forward-looking states will be definitely jumping on this side, we believe. The idea is that during the daytime, the power should be made available from those states, so that instead of bringing down to 55%, we can stick t o, let us say, go to 70% or so and we can store that energy during the daytime. And incidentally, this is a technical part, but it is a very interesting commercial sense that during the evening time when the ambient temperature is lower side, the line capacity increases. Otherwise, also there is a scope for around 10% in those lines, but during the evening hours when the ambient temperature is relatively lower, you can feed in more power. And this power belongs to them. So, this is a win-win situation for both of us, and they are the bigger beneficiary than what we are, because we will be at the end, we will be taking only return on equity and the O&M cost. But at the same time, this power, which is available to them, this is available at INR 10. Almost, that is the peak time that they are able to trade or whether they have to buy it at that point of time, without creating any extra infrastructure other than the BESS. And let me again reiterate here, and you can ask Mr. Shaswattam in detail who are interested, that our CO2 battery, which is 160 megawatt hour, which is going on in Kudgi at present, so we will invite you to visit that place. We plan to commission that by July next. If that is going to be as per our kind of assumption, because this is only second in the world. So, there is one which is in Italy and this is the next one which is getting commissioned. If this is getting commissioned, we are becoming free from the critical minerals. So , there is no critical mineral requirement like BESS. So , we are quite upbeat on that. And in that case, there is no restriction that this has to be that small or that big. And another point is, it can store for a longer duration. And another one is that you can modulate that.

Apoorva · IIFL

Sir, as you are progressing more and more deeper into transition, we are seeing a lot of sort of complementary technologies, be it batteries, green chemicals, all of these emerging. So how do we assess which part of business will be located in which company? So, for example, will green chemicals be a part of NTPC or NTPC Green?

You have already said, the green chemicals will be part of the NTPC Green. And I did mention, and you can get further detail from Mr. Panda, that we have already won one, and there is another bidding going on at present. I can see the face of Mr. Panda that what is going on, he is keeping a close watch on that. But this is all going to be like, all of you would have seen that news that Honorable Prime Minister laid the foundation stone of our green hydrogen hub at Pudimadaka. So, with the land we had procured way back, around 12 years back, for the imported coal-based plant for 2000 megawatt, okay? And that time we were very close to award it. So, we annulled that. And just coming back to Mohit's question, the first question he has asked, we did take a considered decision and till now it has proved to be right. If you would have gone with the 4000 megawatt, imported coal-based plant, we would have been some serious concerns on that.

Mohit Kumar · ICICI Securities

Sir, on FGD Installations , we have already gone ahead and done the investment and State GENCOs and private GENCOs are not investing. So, it puts us at a disadvantage. Are they compensating for us?

No. Yes, answer is unequivocally yes. So, we are governed by the environment norms. We are governed by the rules and regulations at that point of time. And we are operating in the cost-plus regime. So, Both Director (Finance) and Director (Projects), can reflect more on that. But you can take it clearly that whatever investment we are doing, that's not going to put us at a disadvantageous position. So, what I said is that we are in a regulated regime. That too also cost plus. And we have done this investment only after clearance from there. Having said that, if you are putting the FGD, you are taking care of the environment far better than if not put ting the FGD. Just to inform you people here that we have taken a pause at that, once this notification was issued. Already CEA and the ministry is working on that, that what should be the criteria for the new projects and which one we should really take up.

Mohit Kumar · ICICI Securities

Follow-up on FGD for old vs new projects.

For the old projects, already the cost is taken care. It is cost plus only. For the new projects, following the guideline, we have kept the FGD on hold. In the meantime, CEA has formed a committee to decide upon the financial and all. Of course, we will be in advantage because we have done the FGD. We will be compensated. If tomorrow the law of the land changes, it will be advantageous for us only.

Mohit Kumar · ICICI Securities

Sir, all the pumped storage power plants will come in the NTPC, right? Not in the NGEL, right?

I was mentioning in my presentation that some of them will come in the THDC and NEEPCO also. NGEL, we don't contemplate any PSPs, at this stage.

Sumit Kishore · Axis Capital

Sir, I want to again ask you on nuclear. With the capital cost that is involved, let us say by FY32, the first unit gets commissioned. What kind of tariffs are you looking at for that kind of capital cost, managing the risks around fuel and everything else? And what does it mean on a cost -plus-ROE model? And how does nuclear power basically fit into the merit order?

I know, See, the last question first. On the merit order, it is also must -run. It's a non -fossil; it's also taking care. So, that's it. But the cost part is dependent on the total cost of the project, completed cost of the project. And it's a long construction period in comparison to the others. So, this IDC and IEDC is a major component on that. The whole exercise which is going on is that how to reduce the time of execution and how to make it completely indigenous so that the cost will remain under control. So, there are some estimates as of now that it will be somewhere between INR 15 crore to INR 20 crore per megawatt. If that is going to be the cost, tariff will be in the range of anywhere between INR 6 to INR 8.

Ramesh Bhojwani · Mehta and Vakil

The other thing which you referred in your highlights in the initial opening remarks is that with very, very benign inflation of 1.6%, it is imperative that RBI goes further in repo rate reduction or interest rate reduction. May happen in September. And with that, there was a signal and an indication that with that, you will be enabled to lower the cost per unit of power which you are supplying and it is highly imperative that the per unit cost of power which we are supplying, if we reduce it, it will do a lot of good, not only for retail, for commercial, but even for industry. I would like your thoughts on that.

No. You tell me that it is in everyone's interest to reduce inflation. It is also in everyone's interest to reduce interest rate. But what will happen and what will not happen is not in our control. Nor can we guess anything for that. But one thing which you have raised is very important. It is that suppose someone had bid out and he had bid out at a time when the interest rate was very high. Is he going to reduce it? Prices? No. In our regulated returns, will the cost of power be reduced? Answer is ye s. So, to this cost plus, we can go on saying something, but it was structured as it is taking care of both sides.

▸ Prepared remarks (4 blocks)
Good evening. So , first of all, let me thank each and every one, despite of some kind of challenging situation, you have made it here and that too also on time. So, thanks for, especially for today , when the situation is a little bit difficult. So that's the point and as Aditya just introduced all the Directors, so all the functional directors are here. Special thanks to Mr. Mahabir Prasad, who is the Joint Secretary, Ministry of Power, and who is a Board member has also joined us. So let me give you a few things which I would not like to go too much in detail because that presentation will be made by Director (Finance) very soon. And then obviously we can get into some clarifications or explanations. But at the same time, let me add a few things that this year has been a little different than the earlier years and that has caused that the overall generation in the country has been more or less flat. Most of the people who are very eager to crunch the numbers, they will be saying there is no growth. But there is a very strong message in that. Because this is a very positive growth and that positive growth is that if there are good rains, if the monsoon is setting in well in advance, that means our agriculture demand is coming down, our water table is going up, and more than that, our air conditioning load is coming down, which is also good for the health of the environment. Although one can always argue that we are only interested in those numbers. But overall, this is very good for the economy, and we would have seen that our inflation is well within control. It has been seen in the past many years that whenever the rain is very good, the second half of the year or just after the rainy season is over, growth really overtakes the expectations, and this is a positive on that aspect. We are very comfortable as far as the coal stocks are concerned. We have been able to, as a power sector, we have been able to provide the power on demand and hopefully there should not be much concern on that side. So , this is what I just wanted to clarify that some of you may be seeing that and asking that why there is no growth, etc., etc. But as far as NTPC is concerned, we have added the capacity in the Q1, which is 2716 megawatt, which probably is the highest in the history of NTPC and we are sure that we will keep breaking this record as we go forward. Till date, we have added around 3050 megawatt, which was against the last years of total around 4000. So, it is a quantum jump. This capacity includes almost all type of capacities, whether it is renewable or whether it is coal based. Another significant thing is that our , one of the tough assignment o r the project, which is called Barh, which all of you will be, those who are associated for a long time and who have been tracking our stock. So , we have commissioned that in full capacity. So, this has taken a little longer time. But despite of all odds, whether it is Russia-Ukraine war, and despite of that, our engineers have worked day & night and we had to place people there and we could really get all those items and we have commissioned that plant and now it is fully operational on that side. So now let me give you something different input. We had our business plan almost around six years back. We had kept around 13 0 gigawatt by FY32. We have already revised that and the upward revision is, it is 149 gigawatt by FY32 instead of 130. And in that also there is going to be, there will be additional capex, which will be going in the PSP, green chemicals, BESS etc., so put together, we aim to invest about INR7 lakh crore by FY32. We will be able to give the break-up. The presentation will show that. If not, then we can always look at that. You would have seen something in the media that the two of our hydro companies, THDC and NEEPCO, so NEEPCO we have now got the approval, and we have more or less started work on the three projects, Tato -I, Tato -II and Heo. So , it is going to be, ultimately it is going to make its capacity double in the next five to six years. So , whatever the plants were there in NEEPCO, it is going to be doubled by next five to six years. And in case of THDC, we have already commissioned two units of the pumped hydro of 250 megawatt each. By October end, we expect that the full 1000 megawatt capacity should be fully operational. And this is also going to boost our capacity. We have very recently achieved a <strong>100%</strong> load on Patratu Unit-1 and in this year, we are expecting that the Unit -1 and Unit -2 will also be commissioned by the end of the financial year. RBI has allowed us to raise ECB up to US$1 billion to finance the capex requirement. So, this is also quite positive. With the quality overhauling, means maintenance activities, we have been able to reduce our forced outage from 4.18 % to 3.42% in Q1 and 3.75 % in the entire year compared to the 4.03% in the previous year. We have refinanced and with the refinancing and restructuring, INR 4,870 crore of loans were refinanced, reducing interest rates by 2% and restructuring of INR 23,294 crore of loans achieved a rate cut of more than 1%. All of you will be knowing that we are allowed to retain half of that as a regulatory mechanism on that in addition to reducing the cost of the power to the consumers. Another significant thing that I must mention that our Bangladesh project, which was commissioned last financial year, but I think then both the units are operational and there had been concern on that.
Director (Operation) will be able to throw more light. The foundation stone or the groundbreaking, rather, of our Samp oor project in Sri Lanka was done by Honorable Prime Minister and President of Sri Lanka last to last month. So that is also going to be another area of our development. Another, on the storage side, we all know that PSP and BESS are the two items which we are probably knowing, but we are also working on something called carbon dioxide battery. Last time we mentioned this, but as of now you can have the further discussion with our Head of R&D, who is here, and similarly, on the green chemical side. So, this you will be finding little strange, but I did mention in the last year's briefing that the green energy will also be translating into the derivatives, green derivatives, chemicals and the green hydrogen derivatives. So , we have already won one of the green ammonia bid and, in that case, also our ED for the hydrogen, so I would encourage all of you to engage with him. We have also other activities on the NTPC Green and NREL, all those things. So , the CEO for the NGEL is also present here, Mr. Sarit Maheshwari. So, I am sure that there will be many questions on that and please feel free, there will be status by them and what is the future plan. But let me without any hesitation to mention that our journey for the renewable energy is well on track. There is a lot of work which is going on the land securitization and we , as earlier, whatever we do, we do in a way that it is not becoming a kind of problem next year. This year we are likely to add around 6 gigawatt, that is what we had said and about 1.4 gigawatt or 1.3 gigawatt has already been added in this year. So, he will be able to throw more light. There is one concern which you would have noticed from media reports or may be analyzing, most of the renewable energy compan ies that there is some kind of curtailment on the renewable energy. So, it's not only the capacity what we have to put, but it is important that where we have to put, so that the curtailment does not happen. And as you people know that we are only and only in this power sector, so we keep a track of the entire grid and we are also conscious of that strategy that which plant we should start, where we should start early, and which investment should come first and then prioritize on that. As of now when we are discussing , there is another trend which is going to start. I'm sure that there will be some kind of regulation which will be given by CERC soon, hopefully, but State of Bihar has already given us that we will be putting BESS in Barauni. That will be on the cost plus basis because that will also help the grid for the distribution companies. So, this is a new thing what we are trying to enter. Till now this was a standalone and the different one. So , this is another avenue which has opened. On the captive coal mining side, last year we had done almost <strong>45 million</strong> ton. This time we are trying to have 50 million ton. As I said that we are quite comfortable as far as the coal situation is concerned. So, these few things are very important. Now coming back, it is important to say that, for FY25 NTPC has paid interim dividend of INR 5, and this was in the two tranches of INR 2.5 each and further Board of Directors have recommended final dividend of INR 3.35 subject to the shareholders' approval in the upcoming AGM. With this , the total dividend will become INR 8.35 which is approximately 42% of our profit. Capex, I just mentioned . We had many kinds of accolades, some awards, that I don't want to get into, because that will be covered by Director (Finance). So, I would just conclude my initial remarks that on Mahi Banswara , this name should have become now well known by all those who are tracking NTPC. We expect that the foundation stone will be laid in the second part of next month. This is going to be 4x700 megawatt in the joint venture with NPCIL. In addition to that we are also already working in the different states for the sites and there is a full -fledged team which is working for the nuclear. As we move forward, as was mentioned by Aditya that we are quite proactive in deciding how we have to move about. So , this is not on the cost of the coal. The coal based plants already, we will be putting around 26 gigawatt in addition to our 62 gigawatt, so it should become 88 gigawatt to 89 gigawatt in the next five years. So that is the target. We have already awarded, or the work is going on in approximately 16.5 gigawatt to 17 gigawatt. The rest of the awards will be done in the next few months and by any way in this financial year we target to award all these projects. As you will be knowing. long back we had declared that we don't have any immediate plan to start new greenfield coal-based power project, because we have advantage with respect to the others that we have sufficient space in our existing plant and that too also in the pit head plants. So, we are trying to put the capacity in the pit head plants so that we will be more competitive today and, in the days, to come, because the coal will be cheaper, the land in hand, the time will be shorter. So, all these things and we were the first one in the line to put the order so that whether it was BHEL or whether it was L&T, we are ahead of our competitors in this sector on that side. So, let me take a pause here and request Director (Finance) to give his presentation in detail and then we will come back to other things. Thank you.
A warm good afternoon to all of you. Warm because I can see sunshine re-surfacing as we started our session. So let me begin this presentation with the sectoral outlook of the company, our view followed by discussion on emerging opportunities in the sector, our strategic plans, our transitional goals, our steps in new frontiers, our present visibility in terms of our growth trajectory, highlights of our operational efficiency and robustness of our financials. Starting with the sectoral outlook and the company overview, India's economic momentum is poised to remain strong with energy demand projected to surge , according to the CEA estimates. The per capita electricity consumption is expected to nearly double to 3000 units by 2050, bringing it much closer to the global average. Energy consumption is forecast to rise from 2<strong>474 billion</strong> units in FY32 to 3776 billion units by FY42, while peak demand is anticipated to touch 575 gigawatt by FY42, representing a robust CAGR of 5% over this period. Presently, NTPC is having 83 gigawatt installed capacity and a further 31 gigawatt capacity is under construction. Our share in the country's electricity generation is 24%, with just 17% installed capacity. Our corporate plan charts a well -defined growth trajectory, with renewable energy driving a significant share of this expansion. In FY25, we added a 4 gigawatt of new capacity, followed by an additional 3 gigawatt in FY26. At present, nearly 31 gigawatt capacity is under construction. NTPC has entered the nuclear energy domain with an ambitious goal of installing 30 gigawatt of nuclear capacity by 2047, contributing significantly to the nation's 100 gigawatt target. The NTPC group has an ambitious plan to develop 21370 megawatt of pump storage capacity. Of this, 11000 megawatt is under NTPC and 10370 megawatt through THDC and NEEPCO. Recently, 500 megawatt capacity of Tehri PSP commenced commercial operation with additional 500 megawatt capacity scheduled to come online within the current fiscal. Moving to our present visibility in terms of growth trajectory, NTPC is poised for a robust growth with 31 gigawatt of capacity under construction and plans to add 7.2 gigawatt through new thermal orders to ensure a reliable base load supply.
In line with its vision for a cleaner energy mix, the company aims to expand its renewable portfolio from 8 gigawatt at present to 60 gigawatt by 2032, reinforcing its leadership in green energy. The company is also pioneering advancements in energy storage, targeting 3 to 5 gigawatt of pump storage PSP by 2032 and is making a strategic entry into nuclear power with 2.8 gigawatt of capacity planned to be awarded within this fiscal year. To realize this ambitious growth target, NTPC has outlined a cumulative group capex of INR 7 lakh crore by 2032, demonstrating a strong financial commitment and delivering long-term visibility for the stakeholders. In FY25, the company achieved its highest -ever group generation of <strong>439 billion</strong> units, reaffirming its leadership in the sector. NTPC's robust payment security mechanism has been instrumental in ensuring timely and reliable payments from the customers, thereby maintaining effective control over the trade receivables. As you can see that it has reached to 32 days in FY25. Turning to the coal mining front, NTPC's group manages a robust asset base of nine coal mines with a combined peak capacity of 91.6 million metric tons per annum. In FY25, the company achieved a production milestone of 46 million tons, reflecting a strong 28% year -on-year growth and underscoring its operational excellence in mining. Looking ahead, NTPC targets meeting at least 25% of its coal requirement through captive mining by FY30, further enhancing fuel security and supply reliability. In FY25, the company invested INR 363 crore in diverse CSR initiatives with a strong focus on health, sanitation, safe drinking water, education and other areas that directly improve quality of life. These efforts have touched the lives of approximately 1.6 million people, many in remote and backward regions, fostering human development and empowering communities to build a better future. In FY25, the company achieved its highest ever standalone profit of INR 19,649 crore, showcasing our strong financial management and operational efficiency. The momentum has continued in FY26, company posting strong financial results for Q1 FY26, profit after tax for Q1 FY26 stood at INR 4,775 crore. Our consolidated financial performance has also shown consistent growth, underpinning our strategic investment in value, accretive joint ventures and subsidiaries. In FY25, the group achieved a notable 12% increase in profit, reflecting the strength of our diversified portfolio and the effectiveness of our growth strategy. The group's EBITDA also recorded significant increase, underscoring our capability to deliver strong operational earnings while maintaining disciplined financial management.
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