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National Aluminium Company Ltd

₹ 3744.52%
14 Jan – close price
🔗nalcoindia.com•BSE: 532234•NSE: NATIONALUM
Market Cap₹ 68,607 Cr.
Current Price₹ 374
High / Low₹ 374
Stock P/E11.1
Book Value₹ 109
Dividend Yield2.81 %
ROCE43.7 %
ROE32.6 %
Face Value₹ 5.00
Sales₹ 18,029 Cr.
OPM47.1 %
Mar Cap₹ 68,607 Cr.

ABOUT

Incorporated in 1981, National Aluminium Company Limited (NALCO) manufactures and sells Alumina and Aluminium[1]

KEY POINTS

Business OverviewThe company is a Navaratna Central Public Sector Enterprise under the Ministry of Mines. It is one of thelargest integrated Bauxite-Alumina-Aluminium-Power Complex in Indiaand one of thelargest integrated primary producers of aluminum in Asia.[1]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsRevenue GuidanceAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionLarge Order ReceiptsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.Hindalco Inds.955.3511.98214688.790.524741.0014.2566058.0013.5014.80253570.0013.1317916.874872.941.596.510.56
2.Natl. Aluminium373.5511.1468607.382.811433.1734.934292.347.2743.7418029.3347.146158.301433.173.4125.030.00
3.Arfin India81.01192.511366.820.142.45-5.04127.94-14.2013.97570.545.877.102.458.552.910.93
4.Maan Aluminium153.3453.54829.340.005.7712.48191.08-6.9912.13830.223.0615.495.774.436.830.44
5.MMP Industries256.4516.05651.450.787.0120.24187.6829.5914.32762.497.9640.607.012.037.970.54
6.Manaksia Alumi.53.9755.96353.690.131.11-33.93131.21-12.8810.53542.438.306.321.112.561.311.94
7.PG Foils264.3544.42311.800.00-8.03-217.0673.55-26.659.40418.571.897.02-8.030.915.680.26
–Median: 8 Co.204.8930.27740.390.145.9713.37186.130.1414.14666.516.9213.215.972.426.670.49

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
3,4903,2973,6713,1793,0433,3483,5792,8564,0014,6625,2683,8074,292
Expenses
3,1552,8322,9042,5842,6472,5742,4721,9222,4522,3352,5142,3152,366
Operating Profit
3344667675953977741,1089341,5492,3282,7541,4921,926
Other Income
696155486950511617299126124151
Profit before tax
2463655664712756681,3698171,4372,1222,7601,4291,895
Tax %
31%25%8%26%25%27%26%26%26%25%25%26%24%
Net Profit
1702745223492064881,0166011,0621,5832,0781,0641,433
EPS in Rs
0.931.492.841.901.122.665.533.275.788.6211.325.797.80

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
6,7817,3836,8187,5439,50911,4998,4728,95614,21514,25713,14916,78818,029
Expenses
5,6445,7595,9116,4638,1128,6077,9837,1749,66411,80710,2769,2239,530
Operating Profit
1,1371,6249071,0801,3972,8934891,7824,5502,4502,8737,5658,499
Other Income
5081,0707113681,124326273147264234678357500
Interest
2031673322672313175968
Depreciation
525414426480480476530606837716750728726
Profit before tax
9182,1131,1899652,0392,7402261,3173,9551,9552,7847,1358,206
Net Profit
6421,3227876691,3421,7321381,3002,9521,5442,0605,3256,158
EPS in Rs
2.495.133.053.466.949.290.747.0816.078.4111.2228.9933.53
Dividend Payout %
60%34%65%81%82%62%202%49%40%54%45%36%–

Compounded Sales Growth

10 Years:9%
5 Years:15%
3 Years:6%
TTM:31%

Compounded Profit Growth

10 Years:16%
5 Years:108%
3 Years:22%
TTM:116%

Stock Price CAGR

10 Years:27%
5 Years:52%
3 Years:64%
1 Year:88%

Return on Equity

10 Years:14%
5 Years:20%
3 Years:20%
Last Year:33%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
1,2891,2891,289966966933933918918918918918918
Reserves
10,83411,50911,9069,2399,5389,5529,0559,76211,63612,32013,65317,12719,176
Borrowings
00051456712102771059618256
Other Liabilities
4,4263,3803,5154,2454,0644,5964,5493,9284,8574,3964,7514,8955,112
Total Liabilities
16,54916,17816,71014,50214,61415,14714,55014,71117,48917,73919,41923,12225,263
Fixed Assets
6,7926,6456,5967,1447,1397,2867,4857,6607,3437,3037,3837,7487,592
Gross Block
14,85815,2857,0218,0498,5029,1159,81610,55111,04911,69212,49613,541–
Accumulated Depreciation
8,0668,6394259041,3631,8302,3312,8903,7054,3895,1145,793–
CWIP
7695506885669158831,4271,5752,2353,2694,5734,9365,374
Investments
1,2459511,0101,2617112573325623774715251,015819
Other Assets
7,7438,0318,4165,5315,8496,7225,3064,9137,5346,6966,9389,42411,477
Total Assets
16,54916,17816,71014,50214,61415,14714,55014,71117,48917,73919,41923,12225,263

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
9815208811,4361,5902,409-3492,1994,0509082,7275,806
Cash from Investing Activity
785663141,550-490-532873-1,404-2,736-334-2,000-3,971
Cash from Financing Activity
-515-506-544-3,616-1,100-1,731-677-601-1,114-924-747-1,758
Net Cash Flow
544580651-6301146-153195199-350-2078

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
136139108662244
Inventory Days
382411352389288231463411324213253353
Days Payable
17315521328423224521126228714699137
Cash Conversion Cycle
22226215111466-72581563969157221
Working Capital Days
-60810-24-11-28-911-1544-7
ROCE %
9%16%9%9%12%26%2%13%34%15%17%44%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
51.28%51.28%51.28%51.28%51.28%51.28%51.28%51.28%51.28%51.28%51.28%51.28%
FIIs
15.05%15.95%14.95%13.68%11.56%8.99%10.43%12.08%14.13%15.81%15.06%16.22%
DIIs
12.49%13.30%15.38%17.47%18.80%18.82%19.12%19.29%17.99%15.70%15.76%15.45%
Public
21.17%19.48%18.40%17.57%18.38%20.93%19.16%17.34%16.60%17.21%17.90%17.05%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

NALCO: Three Independent Directors to Cease Tenure on March 31, 2026

1st April 2026, 12:23 am

NALCO announces trading window closure from April 1, 2026, for Q4 FY26 results

23rd March 2026, 8:18 pm

NALCO Seeks Waiver for Rs 5.42 Lakh Fine, Cites Director Appointment Delay

18th March 2026, 12:09 am

Harish Textile Issues EGM Corrigendum, Nalco Expansion Faces Land Delays, Reliance Retail Acquires Beauty Brand

10th March 2026, 9:30 pm

NALCO Announces Promotion of Nine Executives to Senior Management Roles

7th March 2026, 5:09 pm

Published by Other Websites

External media mentions & references

NALCO Hits Record FY26 Production, Alumina Sales Surge 31%

2nd April 2026, 9:53 pm

US Moves to Tax Finished Goods: Indian Metals Face New Trade Risks

2nd April 2026, 1:21 pm

FY26 Multibaggers: 5 Stocks Doubled Investment Amid Market Woes

31st March 2026, 12:11 pm

Middle East War Sparks Aluminium Surge; Indian Producers Set to Profit

30th March 2026, 8:39 pm

Aluminium Stocks Surge on Middle East Supply Shock

30th March 2026, 5:50 pm

News Articles

Editorial & research coverage

Nifty Metal Tumbles 3% on Profit Booking; Analysts Urge 'Buy the Dip'
Nifty Metal Tumbles 3% on Profit Booking; Analysts Urge 'Buy the Dip'

13th February 2026, 11:29 am

Metal Stocks Plunge 7% as Profit Booking, Stronger Dollar Hit Shares
Metal Stocks Plunge 7% as Profit Booking, Stronger Dollar Hit Shares

5th February 2026, 10:51 am

Dividend Surge Signals Mature Cash Flows
Dividend Surge Signals Mature Cash Flows

5th February 2026, 8:19 am

Gokaldas Exports Soars on US Tariff Relief; Institutional Deals Signal Sector Shift
Gokaldas Exports Soars on US Tariff Relief; Institutional Deals Signal Sector Shift

4th February 2026, 9:28 pm

NALCO: Neutral View Maintained Despite Q3 Results, INR 350 Target Set
NALCO: Neutral View Maintained Despite Q3 Results, INR 350 Target Set

2nd February 2026, 3:36 pm

Documents

Announcements

Report On Special Window For Re-Lodgement Of Transfer Request Of Physical Securities Of NALCO.

8 Jan - Opened SEBI special window; ads on 21.07.2025; zero re-lodgements Sep 2025–06.01.2026.

Announcement under Regulation 30 (LODR)-Change in Management

7 Jan - Anil Kumar Singh appointed Director (Commercial) effective 07.01.2026; term until 30.09.2028, DIN 11466071.

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

6 Jan - Certificate under Regulation 74(5) of SEBI(DP) Regulations 2018.

Announcement under Regulation 30 (LODR)-Change in Directorate

5 Jan - Anil Kumar Singh (DIN:11466071) appointed NALCO Director (Commercial) effective 05.01.2026, till 30.09.2028; subject to OA 352/2025.

Comments Of Board On The Fine Levied By The Stock Exchanges.

30 Dec - NALCO fined Rs.5,42,800 by NSE/BSE for Reg 17(1) non-compliance; waiver requested; Board notified.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2013

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

22 Sep 2023 from fitch

Rating update

18 Feb 2021 from fitch

Rating update

5 Mar 2020 from fitch

Rating update

13 Mar 2019 from fitch

Rating update

27 Dec 2017 from fitch

Rating update

13 Sep 2016 from fitch

Concalls

Nov 2025

TranscriptPPT

Aug 2025

TranscriptPPT

May 2025

TranscriptPPTRecording

Feb 2025

TranscriptPPT

Dec 2024

Transcript

Jun 2023

PPT

Jan 2022

Transcript

Jan 2022

Transcript

Jun 2018

PPT

Aug 2017

PPT

Stock Analysis

Description

National Aluminium Company Limited (NALCO) is a leading public sector undertaking in India engaged in the mining and manufacturing of aluminium and allied products. It operates an integrated complex for bauxite mining, alumina refining, and aluminium smelting.

Key Growth Triggers

  1. Key growth triggers include the commissioning of the 5th stream alumina refinery by June 2026, development of the Pottangi bauxite mine, and strategic investments in value-added products to enhance margins and domestic market share.

Order Book

  1. Awarded a 25-year Mine Developer and Operator (MDO) contract for its Pottangi Bauxite Mines to Dilip Buildcon Limited for approximately ₹5,032 crore, crucial for securing bauxite resources.

Key Red Flags

  1. Nalco has faced fines from stock exchanges (BSE and NSE) for non-compliance with SEBI LODR regulations regarding independent director appointments and other disclosure requirements.

Key Dates To Watch

  1. The company scheduled its 44th AGM for September 26, 2025, with a record date of September 19, 2025, for the final dividend.
  2. Board meetings were scheduled for November 7, 2025, to approve Q2/H1 FY2025-26 results and consider an interim dividend.

Corporate Announcements

31st Mar 26
Impact Rating: 4
National Aluminium Company Ltd. has officially notified BSE and NSE that three of its independent directors, Ms. Trupti Kamlesh Patel, Dr. Ajay Narang, and Shri Patel Sanjaykumar, will step down on March 31, 2026, after completing their respective terms.
23rd Mar 26
Impact Rating: 7
In compliance with SEBI rules, NALCO will close its trading window from April 1, 2026. This period will extend for 48 hours post-announcement of the audited financial results for Q4 and FY ending March 31, 2026.
17th Mar 26
Impact Rating: 7
National Aluminium Company Limited is seeking a waiver for a Rs 5.42 lakh fine from stock exchanges, citing non-compliance with SEBI (LODR) Regulations due to a shortage of Independent Directors. NALCO highlights that director appointments are controlled by the Government of India.
10th Mar 26
Impact Rating: -
No description available.
7th Mar 26
Impact Rating: 5
NALCO announced the promotion of nine senior executives to the rank of Executive Director as part of its Senior Management restructuring, effective from the date of the announcement.