NTPC Ltd. Nov 07
Standard & Poors, November 2007
Abstract
Dominant market share in India's power generation industry Low off-take risk, supported by cost-competitive operations Diversified generation portfolio Adequate financial profile Financially weak customers Aggressive expansion plans NTPC Ltd. owns and operates coal, gas, and naphtha-based electricity generation units in India. It sells electricity to the state government-owned electricity utilities (SEUs). At Oct. 24, 2007, NTPC had installed generation capacity of 27,904 MW, accounting for about 21% of the country's installed capacity. For the year ended March 31, 2007, NTPC's operating revenues rose 25% to Indian rupee (INR) 341 billion and net income from continuous operations increased 18% to INR69 billion. The rating on NTPC reflects the following strengths: Dominant market share. NTPC is the largest electricity generator in a...
Companies mentioned in this report are:
- NTPC Ltd.
- India (Republic of) (Unsolicited Ratings)
- Power Finance Corp. Ltd.
- Indian Railway Finance Corp.
- NHPC Ltd.
- Export-Import Bank of India
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- NTPC Ltd.
- India (Republic of) (Unsolicited Ratings)
- Power Finance Corp. Ltd.
- Indian Railway Finance Corp.
- NHPC Ltd.
- Export-Import Bank of India
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