NLC India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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NLC India reported Q1 FY26 standalone revenue from operations of Rs. 2,495.60 Crore, down ~6% YoY from Rs. 2,648.73 Crore in Q1 FY25. Despite the revenue dip, standalone profit after tax grew ~32% YoY to Rs. 656.23 Crore (vs Rs. 495.98 Crore), lifting EPS to Rs. 4.73 from Rs. 3.58. Consolidated numbers were stronger: revenue rose ~13% YoY to Rs. 3,825.61 Crore and PAT jumped ~79% to Rs. 839.21 Crore (EPS Rs. 6.05). However, standalone operating margin compressed sharply from 23.04% to 13.89%, largely on higher fuel costs. The board also approved transfer of operational renewable assets worth an estimated Rs. 5,228 Crore to wholly-owned subsidiary NLC India Renewables Limited (NIRL), backed by CCEA approval for Rs. 7,000 Crore investment. A new JV, NLC Rajasthan Power Ltd (74:26 with RVUNL), was incorporated during the quarter.
Profit growth despite revenue softness is positive for shareholders, but the sharp standalone margin compression and auditor's going-concern flag over Neyveli land availability for lignite mining are key risks to monitor. The renewable asset hive-off and CCEA-backed Rs. 7,000 Crore investment signal strategic focus on the green energy arm.