NTPC, Skipper, JSW Energy: Axis Direct Highlights Three Power & Utility Stocks After Q1FY27

NTPC, Skipper, JSW Energy: Axis Direct Highlights 3 Power & Utility Stocks After Q1FY27 Results

Power and utility companies remained in focus following their June-quarter results, with domestic brokerage Axis Direct highlighting NTPC, Skipper and JSW Energy based on their capacity expansion plans, order books and execution outlook.

According to the brokerage's analysis, the three companies have several factors supporting their longer-term business outlook, including increasing power generation capacity, strong infrastructure order pipelines and investments in renewable energy.

The following reference levels were cited in the Axis Direct report

NTPC: ₹420

Skipper: ₹605

JSW Energy: ₹630

These levels represent the brokerage's published analyst view and are included only for informational purposes.

NTPC: Large Capacity Expansion Pipeline

Stock: NTPC

Ticker: NTPC:NSE

Analyst reference level: ₹420

NTPC continues to expand its generation portfolio across thermal and renewable energy.

NTPC Group's installed capacity increased by 1,796 MW during Q1FY27, reaching approximately 90,904 MW as of June 30, 2026.

The company also has around 35.7 GW of capacity under construction, covering coal, hydro and renewable energy projects.

Thermal capacity is expected to increase from approximately 74 GW in June 2026 to 84 GW by FY32 and 97 GW by FY37, according to the outlook cited by Axis Direct.

The renewable energy expansion is also a major part of NTPC's long-term strategy.

The group currently has around 12 GW of operational renewable energy capacity, with another 16.4 GW under construction.

NTPC has outlined plans to increase operational renewable capacity to

• 20 GW by FY27E
• 28 GW by FY28E
• 60 GW by FY32E
• 136 GW by FY37E

The combination of thermal capacity expansion and renewable investments remains an important factor in the company's future growth strategy.

Skipper: Strong Order Book and Capacity Expansion

Stock: Skipper

Ticker: SKIPPER:NSE

Analyst reference level: ₹605

Skipper is another company highlighted by Axis Direct, with the brokerage focusing on its strong order book, bidding pipeline and manufacturing capacity expansion.

The company reported ₹1,674 crore of order inflows during Q1FY27, taking its closing order book to a record ₹9,217 crore as of June 2026.

Its bidding pipeline also remained strong at more than ₹35,000 crore, providing a significant opportunity pipeline across domestic and international markets.

Skipper is also expanding its manufacturing capabilities.

The company's ongoing 75,000 MTPA capacity expansion is expected to be commissioned by the end of Q2FY27.

Once completed, total manufacturing capacity is expected to increase to approximately 450,000 MTPA.

Exports declined around 50% year-on-year during Q1, primarily due to geopolitical developments in West Asia.

However, management expects export order inflows to increase by more than 50% YoY in FY27, according to the information cited in the report.

The combination of a record order book, large bidding pipeline and additional manufacturing capacity remains an important factor for monitoring Skipper's business performance.

JSW Energy: Rapid Capacity Additions

Stock: JSW Energy

Ticker: JSWENERGY:NSE

Analyst reference level: ₹630

JSW Energy has been expanding its power generation portfolio at a rapid pace, with renewable energy remaining a major focus.

The company's installed capacity increased by 872 MW during Q1FY27 to approximately 14.5 GW.

Capacity additions had reached 1,081 MW by July 8, representing around 36% of the company's FY27 capacity addition guidance of 3 GW.

The company has a total locked-in capacity of approximately 32.4 GW, providing visibility towards its longer-term expansion plans.

JSW Energy is targeting approximately 30 GW of capacity by 2030, supported by its development pipeline.

The company has also expanded its thermal platform to approximately 10,958 MW, while continuing to increase its renewable energy presence.

Balance Sheet Strength and Capital Raising

Another important development for JSW Energy was its capital raising of approximately ₹10,150 crore.

The additional capital is expected to support the company's expansion plans and help strengthen its balance sheet.

JSW Energy has outlined a substantial ₹1.1 lakh crore capital expenditure plan through FY30.

The scale of this investment highlights the company's focus on expanding its generation capacity and building a larger renewable energy portfolio.

For investors and market participants, execution of these projects, funding requirements and balance-sheet management will remain important factors to monitor.

What Is Supporting the Power & Utility Sector?

The Indian power sector continues to experience structural demand drivers.

Increasing electricity consumption, industrial expansion, infrastructure development and the transition towards renewable energy are creating opportunities across the power-generation and transmission ecosystem.

At the same time, companies are investing heavily in new capacity.

For businesses such as NTPC and JSW Energy, renewable capacity additions are becoming increasingly important alongside their existing thermal portfolios.

For companies such as Skipper, rising investments in transmission and power infrastructure can potentially create additional opportunities for order inflows.

Key Numbers to Watch

NTPC

Installed capacity: 90,904 MW

Capacity under construction: 35.7 GW

Operational renewable capacity: ~12 GW

Renewable capacity under construction: 16.4 GW

Analyst reference level: ₹420

Skipper

Q1FY27 order inflows: ₹1,674 crore

Order book: ₹9,217 crore

Bidding pipeline: ₹35,000+ crore

Planned capacity after expansion: 450,000 MTPA

Analyst reference level: ₹605

JSW Energy

Installed capacity: ~14.5 GW

Locked-in capacity: 32.4 GW

Capital raised: ₹10,150 crore

Planned capex through FY30: ₹1.1 lakh crore

Analyst reference level: ₹630

What Investors Should Monitor

Several factors could influence the future performance of these companies and the broader power sector.

These include

• New capacity commissioning
• Order inflows and order-book conversion
• Renewable energy project execution
• Transmission infrastructure spending
• Interest rates and financing costs
• Commodity and equipment costs
• Government power-sector policies
• Regulatory developments
• Balance-sheet leverage
• Cash-flow generation
• Renewable energy tariffs
• Project execution timelines

For Skipper, international order flows and export markets will also remain important.

For NTPC and JSW Energy, the pace of renewable capacity additions and execution of large capital expenditure programmes will be key areas to watch.

Axis Direct's View in Context

Axis Direct's analysis highlights NTPC, Skipper and JSW Energy based on their business fundamentals and expansion plans following Q1FY27 results.

However, analyst views can change as quarterly results, valuations, project execution and market conditions evolve.

The reference levels mentioned in the report should therefore be viewed as analyst-published reference points, rather than assured future prices.

Key Takeaways

NTPC, Skipper and JSW Energy remain in focus following their June-quarter results.

NTPC is expanding its thermal and renewable generation portfolio, with 35.7 GW of capacity under construction.

Skipper reported ₹1,674 crore of Q1FY27 order inflows, taking its order book to a record ₹9,217 crore.

JSW Energy's installed capacity increased to approximately 14.5 GW, while its locked-in capacity reached 32.4 GW.

JSW Energy has also raised ₹10,150 crore and plans approximately ₹1.1 lakh crore of capex through FY30.

The key factors to monitor across these companies include capacity additions, project execution, order inflows, financing costs and balance-sheet strength.

Disclaimer

This article is published solely for educational and informational purposes.

TrendRipperX is not registered with the Securities and Exchange Board of India (SEBI) as an Investment Adviser or Research Analyst.

The information presented is based on publicly available information and views attributed to Axis Direct and other market sources.

Nothing in this article should be interpreted as a buy, sell, hold, entry, exit, target or stop-loss recommendation from TrendRipperX.

The analyst reference levels mentioned in this article are reproduced for informational context only and do not represent TrendRipperX's own price projections or recommendations.

Readers should conduct their own independent research and consult a SEBI-registered financial professional before making any investment or trading decision.