NATIONAL ALUMINIUM CO LTD

Produces primary aluminium metal and alumina through a fully integrated chain stretching from its own bauxite mines to alumina refining, aluminium smelting and captive power generation, with FY26 segment revenue of ₹12,944.71 cr from aluminium (65.8% of segment revenue, EBIT ₹5,564.28 cr) and ₹6,694.25 cr from chemicals (34.0%, EBIT ₹2,034.16 cr). Aluminium metal output reached 4.71 lakh tonnes in FY26 with a FY27 target of 4.73 lakh tonnes; Q1 FY27 also saw record bauxite excavation of 19.52 lakh tonnes and calcined alumina production of 5.77 lakh tonnes. Domestic alumina sales grew from 40,000 tonnes in FY24 to 140,000 tonnes in FY26, with FY27 guidance of 250,000-300,000 tonnes, alongside total alumina production target of 25 lakh tonnes for FY27. Its largest cost buckets are other operating expenses at 31.5% of FY26 revenue and materials at 13.4%, with caustic soda, CP coke and furnace oil being key inputs; the company runs captive power plants and a coal mine at Utkal to feed the smelter. In July 2026 a 50:50 JV with NLC India was signed for a 1,080 MW (4x270 MW) captive thermal power plant at Angul, Odisha under a 25-year PPA, with coal supplied at Coal India prices. This JV will support a 0.5 MTPA aluminium smelter expansion targeted for December 2030 / early 2031, part of a ₹23,000-24,000 crore capex programme, and a 5th Stream alumina refinery is scheduled to start commissioning in June 2026. The company is a central public sector enterprise owned through the Ministry of Mines, Government of India.