National Aluminium Company Limited has informed the Exchange about Transcript of Earning Conference call held on 30.04.2026.
NATIONALUM · price
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NALCO reported best-ever financial and operational performance for FY '26 with revenue of Rs. 17,843 crores (up 6.28%), EBITDA of Rs. 8,613 crores (up 8.72%), and PAT of Rs. 5,816 crores (up 9.22%). Despite alumina prices falling sharply from ~$580 to ~$370 per ton (down $200+ year-on-year), the company compensated through higher volumes and strong aluminium prices ($2,700 vs $2,550 prior year). For FY '27, management expects alumina prices to remain pressured at $300-310 due to Middle East smelter disruptions (Qatalum, EGA reduced production by 50%) and excess alumina supply from Indonesia. However, management guided that overall margins will be protected as aluminium prices ($3,600 LME currently, ~$3,000 average expected) offset alumina weakness. The 5th stream refinery commissioning starts June 2026 targeting 2 lakh tons additional alumina production. A new 0.5 million ton aluminium smelter with power plant (JV with Neyveli Lignite) is planned with DPR by September-October 2026 and completion by December 2030. Capex will ramp from Rs 4,000-5,000 crore in FY '27 to Rs 8,000-10,000 crore peak in FY '28-30.
Strong FY '26 results show NALCO's ability to navigate commodity price headwinds through volume growth and operational efficiency. However, FY '27 faces continued alumina price pressure ($300-310 expected vs $376 in FY '26), though the company expects margin protection from higher aluminium prices and cost savings from captive coal expansion and lower employee costs.