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. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Aluminium (66%), Chemicals (34%). Integrated, asset-heavy bauxite-to-aluminium producer with captive power and a chemicals side-stream
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 14,181 | 14,255 | 13,149 | 16,788 | 17,843 |
| EBITDA (ex other income) | 4,517 | 2,448 | 3,300 | 7,565 | 7,947 |
| margin % | 31.9 | 17.2 | 25.1 | 45.1 | 44.5 |
| Owners' profit | 2,951 | 1,435 | 0 | 0 | 5,797 |
| EPS, as reported (₹) | 16.07 | 7.81 | 10.83 | 28.68 | 31.56 |
| ROE % · ROCE % | 23.5 · 28.1 | 10.9 · 13.3 | 13.8 · 17.4 | 29.6 · 37.1 | 26.8 · 33.7 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.01 | 0.00 |
| Cash from operations | 3,958 | 908 | 2,719 | 5,806 | 6,438 |
| Capex | (927) | (1,305) | (1,561) | (1,176) | (2,035) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,001 | 4,662 | 5,268 | 3,807 | 4,292 | 4,731 | 5,013 | 5,302 |
| Profit before tax | 1,437 | 2,122 | 2,760 | 1,429 | 1,895 | 2,132 | 2,311 | 2,689 |
| Net profit | 1,046 | 1,566 | 2,067 | 1,049 | 1,430 | 1,595 | 1,722 | 2,003 |
| EPS (₹) | 5.70 | 8.53 | 11.26 | 5.71 | 7.79 | 8.69 | 9.38 | 10.91 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Chemicals | 6,694 | 34.0 |
| Aluminium | 12,945 | 65.8 |
| Unallocated Common | 6 | 0.0 |
| Unallocated common | 18 | 0.1 |
| Unallocated Commom | 9 | 0.0 |
| Total, before eliminations | 19,672 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · NALCO to attend Investors' Meet on Sept 16, 2026 in Mumbai | board shareholder meetings | low | — | — |
| 7 Sept 2026 · NALCO signs technology deal with EGA for Anugola smelter expansion | strategic transactions | high | — | — |
| 31 Aug 2026 · NALCO 45th AGM: Record FY26 Performance and Ambitious Expansion Plans | board shareholder meetings | low | — | — |
| 31 Aug 2026 · 45th AGM results: All 7 resolutions passed, dividend approved | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Nalco Executive Director retires on superannuation | management changes | medium | — | — |
| 31 Aug 2026 · NALCO 45th AGM: 7 resolutions approved, dividends confirmed | board shareholder meetings | low | — | — |
| 31 Aug 2026 · Chairman Speech: Record FY26 performance and expansion roadmap for NALCO | investor communications | medium | — | — |
| 26 Aug 2026 · NSE imposes Rs 14.31 lakh fine on Nalco for SEBI LODR non-compliance | regulatory legal | high | — | — |
| 25 Aug 2026 · NALCO gets BSE fine of Rs 14.31 lakh for SEBI LODR compliance lapses | regulatory legal | high | — | — |
| 24 Aug 2026 · NALCO 45th AGM addendum: new director appointment | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| HINDALCO INDUSTRIES LTD |
| 2,17,893 |
| 13.3 |
| 1.60 |
| 9.7 |
| 9.8 |
| 8.0 |
| — |
| 15.0 |
| NATIONAL ALUMINIUM CO LTD ◆ | 66,303 | 9.8 | 3.07 | 7.7 | 26.8 | 33.3 | 14.8 | 54.3 |
| ARFIN INDIA LIMITED | 1,461 | 79.5 | 8.58 | 33.8 | 9.1 | 12.0 | — | 4.9 |
| MMP INDUSTRIES LIMITED | 1,207 | 24.1 | 3.48 | 24.6 | 8.9 | 7.7 | 29.0 | 9.0 |
| MAAN ALUMINIUM LIMITED | 666 | 44.4 | 2.42 | — | 4.7 | 6.1 | — | 3.1 |
| Msafe Equipments Limited | 600 | 28.2 | — | — | — | 27.4 | — | — |
| PG FOILS LTD. | 266 | 9.7 | 0.80 | — | (2.5) | (2.1) | — | (2.9) |
| MANAK ALUMINIUM CO. LTD. | 242 | 27.5 | 1.70 | — | 5.3 | 4.6 | — | 9.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.8 | 14.9 | 4 of 15 | 79% |
| P/B | 3.1 | 2.1 | 8 of 12 | 36% |
| ROCE | 33.3 | 8.0 | 1 of 15 | 100% |
| ROE | 26.8 | 7.6 | 2 of 12 | 91% |
| Debt / Equity | 0.0 | 0.6 | 1 of 12 | 100% |
| EBITDA margin | 54.3 | 6.0 | 1 of 12 | 100% |
| Revenue growth | 39.3 | 9.8 | 2 of 13 | 92% |
| Profit growth | 90.9 | 55.9 | 4 of 12 | 73% |
| Market cap | 66303 | 242 | 2 of 15 | 93% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
