Business Update

NLC India Limited has informed the stock exchanges that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has successfully secured a project through competitive bidding.

NIRL participated in a tender floated by the Department of Power, Government of West Bengal, on behalf of the West Bengal State Electricity Distribution Company Limited (WBSEDCL). Following the tender process, NIRL emerged as the successful bidder for the installation of a 50 MW/200 MWh Standalone Battery Energy Storage System.

The project is to be developed at Arambag, Hooghly, in the state of West Bengal, under the Tariff-Based Competitive Bidding framework. NIRL has received the official Letter of Award from WBSEDCL for this development.

Project Highlights

What This Means for Investors

This development is significant as it demonstrates the successful execution of the company's strategy to expand its renewable energy portfolio through its subsidiary. The project involves energy storage, a critical component for renewable energy integration. While the order value was not disclosed, securing a 50 MW/200 MWh project strengthens the subsidiary's order book and its operational presence in West Bengal.

Transaction Details

NLC India Ltd has formally announced the completion of an issuance of Commercial Paper (CP) to support its treasury and liquidity management. The key terms of the issuance are provided below:

Financial and Corporate Significance

The issuance of Commercial Paper is a conventional mechanism for companies to raise short-term funds for working capital and other temporary liquidity needs. Investors should view this as a standard corporate treasury activity consistent with the company's financial operations rather than a significant shift in business strategy or long-term leverage profile.

Investor Takeaway

For existing shareholders, this disclosure is a routine compliance update regarding the company's debt management. No material change to the investment thesis is implied by this specific issuance.

Board Appointment Announcement

NLC India Limited has formally announced the appointment of Shri P L S S Chaitanya Prakash as Director (Power). The appointment was initiated by the Ministry of Coal, Government of India, via Letter No. 21/20/2025-ESTABLISHMENT dated September 30, 2026.

Terms of Tenure

Mr. Prakash assumed charge of the position on October 5, 2026. His tenure is valid until his date of superannuation, which is December 31, 2029, or until further orders, whichever is earlier. The terms and conditions of his employment and remuneration will be governed by the company's extant policy.

Professional Background

Shri P L S S Chaitanya Prakash is a mechanical engineer with over three decades of experience in India's power and energy infrastructure sector. Prior to this appointment, he served as Executive Director (Operations) at Damodar Valley Corporation (DVC), where he managed strategic operations and major capital projects. His areas of expertise include:

• Thermal power station management and boiler performance
• Efficiency optimization and environmental compliance systems (including FGD and fly ash management)
• EPC contract management and project governance
• Clean energy initiatives, such as floating solar PV, pumped storage, and Battery Energy Storage Systems (BESS).

He holds a B.E. in Mechanical Engineering from Andhra University and a PGDM from XIM Bhubaneswar. The company has confirmed that Mr. Prakash is not debarred from holding office by any regulatory authority and is not related to any other directors on the board.

Key Highlights

Compliance Overview

NLC India Limited has submitted its certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2026. This filing confirms the company's adherence to share dematerialization processes.

Key Confirmations

Based on the certification provided by the Registrar and Share Transfer Agent (RTA), Integrated Registry Management Services Private Limited, the company confirmed that:

• All share certificates received from participants for dematerialization have been listed on the relevant stock exchanges.
• Security certificates, where applicable, were mutilated and cancelled, and the records were updated to reflect the depository as the registered owner within the mandated 15-day timeline.
• Necessary details regarding dematerialization and rematerialization have been furnished to the stock exchanges.

What This Means for Investors

This is a routine statutory disclosure and does not have any direct financial or operational impact on the company. It serves to inform shareholders and regulators of ongoing compliance with SEBI's depository requirements.

Key Highlights

NLC India Limited held its 70th Annual General Meeting (AGM) on September 29, 2026. The company confirmed that all resolutions proposed in the AGM notice were passed with the requisite majority. The voting process, conducted through remote e-voting and e-voting during the meeting, was scrutinized by M/s. D Hanumanta Raju & Co., Practicing Company Secretaries.

Corporate Action Details

The following resolutions were approved by shareholders:

• Financials and Dividend: Adoption of standalone and consolidated audited financial statements for FY 2025-26 and declaration of a final dividend.
• Asset Restructuring: Approval for the sale and transfer of Renewable Energy Assets to the company's wholly owned subsidiary, NLC India Renewables Limited.
• Auditor Remuneration: Ratification of remuneration for Cost Auditors for the financial year 2026-27.

Board and Governance Update

Shareholders approved several appointments to the Board of Directors:

• Dr. Prasanna Kumar Acharya: Re-appointment as a Director retiring by rotation and subsequent appointment as Chairman cum Managing Director.
• Directors: Appointment of Shri Suresh Chandra Suman, Shri Rajesh Pratap Singh Sisodia, Shri Anil Meshram, and Shri Gopal Singh as Directors.
• Independent Director: Appointment of Shri Poonam Chandrakar as an Independent Director.

Investor Takeaway

The AGM proceedings confirmed the shareholder mandate for the company's planned internal restructuring of its renewable energy portfolio and finalized key board appointments. The passage of these resolutions ensures continuity in leadership and progresses the strategic asset transfer previously proposed by the company.

Project Award Details

NLC India Limited has informed the exchanges that its subsidiary, NLC India Renewables Limited (NIRL), has been declared the successful bidder for a standalone Battery Energy Storage System (BESS) project. The project was tendered by SJVN Limited.

What This Means for Investors

This order signifies an expansion of NLC India's operational capabilities into the energy storage segment. By utilizing the VGF scheme under a competitive bidding framework, the company has secured a long-term revenue stream for its storage capacity. The capacity charge of INR 2,35,000 per MW per month provides clarity on the expected returns for this specific project. Investors should monitor the subsequent project timelines, including land acquisition, equipment procurement, and construction milestones, to assess execution progress.

Publication Details

NLC India Ltd has confirmed the successful publication of the Chairman's speech delivered at the 70th Annual General Meeting (AGM). This announcement serves as a compliance record submitted to the stock exchanges.

Newspaper Publications

• English: Financial Express
• Tamil: Dinamani
• Odia: The Samaja

Regulatory Context

This filing was made in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, which mandates the disclosure of material events and information to the exchange and the public.

What Shareholders Should Know

The newspaper notices contain the full text of the Chairman's address, which outlines the company's operational performance, strategic initiatives, and business outlook. This publication is for information purposes and requires no action from shareholders.

Key Highlights

Financial Snapshot

NLC India reported strong growth across key financial metrics for FY 2025-26. The company achieved an all-time high in Profit After Tax (PAT) and EBITDA.

Operational Performance

Management highlighted significant operational milestones achieved during the year:

• Coal Production: Achieved an annual high of 19.14 million tonnes (MT) and dispatch of 17.69 MT from Talabira-II & III OCP.
• Renewable Energy: Generated a record 2.26 billion units of green energy; renewable portfolio expanded to 1,785 MW.
• Asset Commissioning: Commenced coal production at the Pachwara South Coal Mine and achieved full commercial operation of all three 660 MW units at NUPPL Ghatampur.

Strategic Roadmap: Vision 2047

NLC India is transitioning into a diversified energy enterprise. Its 'Vision 2047' roadmap focuses on:

• Capacity Targets: Achieving 20 GW of power capacity and over 100 MTPA of mining capacity.
• Strategic Diversification: The roadmap is driven by expansion in renewables, battery energy storage systems (BESS), green hydrogen pilot projects, overburden-to-M-sand plants, and strategic entry into critical minerals.

Investor Takeaway

NLC India’s performance in FY 2025-26 demonstrates strong operational execution, marked by record profits and capital expenditure. The declared 38.5% dividend payout underscores a commitment to shareholder returns. For existing investors, the 'Vision 2047' strategy provides a clear, long-term growth outlook, although success will depend on the effective execution of large-scale renewable and diversification projects.

Key Highlights

NLC India Limited conducted its 70th Annual General Meeting on September 29, 2026. The meeting addressed ordinary business including adoption of audited financial statements, confirmation of interim dividend, and declaration of a final dividend of Rs 0.25 per share. Several special business items, including appointment of directors and transfer of renewable energy assets to a subsidiary, were also taken up for consideration.

Financial Snapshot (Consolidated, FY 2025-26)

Performance Update (Q1 FY 2026-27)

Compared to the corresponding quarter of the previous year, key highlights for the first quarter of FY 2026-27 include:

• Coal Production: 4.09 million tonnes (up 7.84%)
• Lignite Production: 4.53 million tonnes (up 16.64%)
• Coal Despatch: 5.11 million tonnes (up 24.65%)
• Power Generation: 8.26 billion units (up 25%)
• Revenue from Operations: Rs 4,717 crore (up 23.29%)
• Profit Before Tax: Rs 652 crore (up 9.76%)

Business and Operational Highlights

• Renewable Energy: The portfolio reached 1,785 MW with the commissioning of 353 MW during FY 2025-26.
• Coal Mining: Achieved record coal production of 19.14 MT and dispatch of 17.69 MT from Talabira-II & III. Pachwara South Coal Mine commenced production in March 2026.
• Commercial: Maintained 100% collection efficiency from power debtors during FY 2025-26.
• Strategic Outlook: The company aims for 20 GW of power generation capacity and beyond 100 MTPA of mining capacity by 2047, supported by expansion into critical minerals, green hydrogen, and renewable energy.

Dividend

• Interim Dividend: Rs 3.60 per share (36%) paid during FY 2025-26.
• Final Dividend: Recommended Rs 0.25 per share (2.5%) for FY 2025-26, subject to shareholder approval.

Concerns and Watch Points

• Project Execution: The company’s long-term growth is heavily dependent on the timely execution of its 2.5 GW renewable pipeline and thermal projects, including the 1,980 MW Ghatampur Thermal Power Project.
• Asset Diversification: Success in entering new domains like critical minerals and green hydrogen will be key to long-term diversification strategy.

Investor Takeaway

NLC India reported robust growth for FY 2025-26, supported by strong coal production and power generation metrics. The company remains focused on its strategic roadmap to evolve into a diversified energy enterprise. Shareholders should monitor the progress of its significant renewable project pipeline and thermal expansion projects.

Key Highlights

Overview of the Joint Venture

NLC India Limited has announced the approval to incorporate a Joint Venture Company (JVC), provisionally named 'NLC NALCO Power Limited' (subject to Ministry of Corporate Affairs approval). The entity will be established as a 50:50 equity partnership between NLC India Limited and National Aluminium Company Limited (NALCO).

Strategic Rationale

The core purpose of this JV is the development of a 1080 MW thermal captive power plant, structured as four units of 270 MW each. The plant will be developed in phases to address the captive power requirements of NALCO. Furthermore, the partnership aims to explore options for long-term power purchase agreements (PPA) to satisfy NALCO's renewable energy requirements, signaling a broader scope for energy cooperation beyond thermal generation.

Regulatory and Approval Status

The formation of this JV has received formal support from the central government. The Ministry of Coal, vide letter dated September 8, 2026, conveyed that the Department of Investment and Public Asset Management (DIPAM) has approved the formation of the JVC. The incorporation remains subject to compliance with DIPAM guidelines and other applicable statutory and administrative approvals.

Investment and Control

The company plans to subscribe to the equity shares of the proposed JVC by cash. The shares will be acquired at their face value of Rs 10 each. NLC India Limited will hold a 50% stake in the entity, ensuring equal control and participation with its partner.

What This Means for Investors

This development is a significant expansion of the company's power generation portfolio. By securing a long-term captive power project with a major industrial partner like NALCO, NLC India strengthens its operational pipeline. The inclusion of renewable energy potential in the JV mandate suggests alignment with evolving energy transition strategies, providing an additional layer of potential long-term value for shareholders.

Investor Takeaway

The formation of this JV is a material step in infrastructure and capacity building. Investors should monitor the progress of the project development timelines and the finalization of renewable energy PPA agreements, which remain key execution milestones for this partnership.

Joint Venture Formation

NLC India Ltd has announced that its Board of Directors approved the incorporation of a Joint Venture Company (JVC) with National Aluminium Company Limited (NALCO). The JVC, provisionally titled 'NLC NALCO Power Limited,' will operate with a 50:50 equity participation between the two companies.

Project Scope

The primary objective of the JVC is to develop a 1080 MW (4 X 270 MW) thermal captive power plant in phases. The facility is intended to meet the captive power requirements of NALCO. Additionally, the JVC mandate includes exploring options for long-term Power Purchase Agreements (PPA) to support NALCO's renewable energy requirements.

Approvals

The formation of this joint venture has received the necessary regulatory clearance. The Ministry of Coal, through a letter dated September 8, 2026, conveyed the approval of the Department of Investment and Public Asset Management (DIPAM).

Financial and Structural Details

• Entity: NLC NALCO Power Limited (or as approved by the Ministry of Corporate Affairs).
• Industry: Thermal Power Generation.
• Equity Structure: 50:50 participation.
• Consideration: Cash subscription of equity shares at a face value of Rs 10 per share.

Investor Takeaway

The joint venture marks a strategic move for NLC India to expand its thermal power generation footprint while securing long-term demand via a captive arrangement with NALCO. The inclusion of renewable energy PPA exploration also suggests a broader utility-scale focus. Investors should monitor the progress of the incorporation and the subsequent timeline for the phased development of the 1080 MW capacity.

Commercial Paper Issuance

NLC India Limited has informed the exchanges about the issuance and allotment of Commercial Paper on September 28, 2026.

Key Terms of Issuance

The company has raised ₹200 crore through the issuance of 4,000 Commercial Paper units. This is a standard short-term debt instrument used by large enterprises for working capital requirements.

Investor Takeaway

This filing represents routine treasury management. Existing shareholders should note that this adds to the company's short-term debt profile but is a standard operating procedure for a public sector enterprise.

Corporate Action Details

NLC India Limited has issued and allotted 10,000 units of Commercial Paper to support its treasury and working capital requirements. The key details of the issuance are as follows:

What This Means for Investors

The issuance of Commercial Paper is a routine financial activity undertaken by large enterprises to manage short-term liquidity and bridge working capital needs. It is typically a debt instrument with a short maturity period. For investors, this move highlights active treasury management. It does not imply a change in the long-term capital structure or a signal of financial distress, but rather a standard operational step for maintaining liquidity in the business.

Board, Management, Auditor, or Governance Update

NLC India Limited has informed the stock exchanges that the Ministry of Coal, as the administrative ministry, has assigned the additional charge of the post of Director (Finance) to Dr. Prasanna Kumar Acharya, the Chairman cum Managing Director of the company.

Key Terms of Assignment

• Appointee: Dr. Prasanna Kumar Acharya (Chairman cum Managing Director)
• Role: Director (Finance) (Additional Charge)
• Effective Date: September 17, 2026
• Duration: Initial period of three months
• Conditions: The assignment remains in effect until the earlier of three months from the effective date, the appointment of a regular incumbent to the post, or until further orders.

This intimation was filed in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Publication Details

NLC India Limited has released a corrigendum regarding its 70th Annual General Meeting (AGM) notice, originally published on September 05, 2026. The company released this notification in the Financial Express and Dinamani newspapers on September 19, 2026, following board approval for the appointment.

AGM Agenda Update

The corrigendum introduces 'Item No. 11' as a Special Business item requiring an Ordinary Resolution. This item concerns the appointment of Dr. Prasanna Kumar Acharya as the Chairman cum Managing Director of the company. The appointment is effective from September 17, 2026, or until further orders, pursuant to directions from the Ministry of Coal.

Important Procedural Dates

What Shareholders Should Know

Shareholders are advised to note the addition of Item No. 11 to the AGM agenda when casting their votes. The company has clarified that there are no changes to the previously communicated e-voting period, the cut-off date, or the participation procedures for the AGM, which will be held via Video Conferencing (VC) or Other Audio-Visual Means (OAVM). The full corrigendum is available on the company website and the respective exchange portals.

AGM Agenda Update

NLC India Limited has issued a corrigendum to the notice of its 70th Annual General Meeting (AGM), which is scheduled to be held on September 29, 2026. The company has introduced Item No. 11 to the agenda as a Special Business, requiring an Ordinary Resolution from shareholders. All other business items (1 through 10) remain unchanged.

Appointment of Chairman cum Managing Director

The company is seeking shareholder approval for the appointment of Dr. Prasanna Kumar Acharya (DIN: 09625170) as the Chairman cum Managing Director (CMD) of the company.

Background and Profile

Dr. Prasanna Kumar Acharya previously served as the Director (Finance) of NLC India Limited. He is a seasoned professional with nearly three decades of experience in the power, mining, and infrastructure sectors, having held positions at organizations such as GRIDCO, NTPC, and Tata Power.

His credentials include:

• Qualifications: B.Com (Hons), LLB, M.Com, MBA, Ph.D.
• Professional Memberships: Fellow Member of the Institute of Cost and Management Accountants of India, Associate Member of the Institute of Company Secretaries of India.
• Contribution Highlights: His previous involvement includes supporting infrastructure projects such as the Phase-II Project of Chennai Metro Rail Limited (CMRL), with an estimated value of over Rs 63,000 crore, as well as digital transformation initiatives within NLC India Limited.

Investor Takeaway

The addition of this item to the AGM agenda is primarily a governance formality to formalize the CMD appointment. Shareholders should note that the appointment was made effective from September 17, 2026, pursuant to government approval. The board recommends the resolution for approval.

Leadership Transition

NLC India Ltd has officially announced the appointment of Dr. Prasanna Kumar Acharya as the Chairman cum Managing Director (CMD) of the company. This follows approval from the Ministry of Coal, Government of India, conveyed via letter dated 16th September 2026. Dr. Acharya assumed charge effective 17th September 2026.

He succeeds Shri Sanoj Kumar Jha, who held the additional charge of CMD. Shri Sanoj Kumar Jha handed over the charge to Dr. Acharya on the same date.

New Leadership Profile

Prior to this appointment, Dr. Prasanna Kumar Acharya served as the Director (Finance) and CFO of NLC India Ltd. Following his new appointment as CMD, he has relinquished his roles as Director (Finance) and CFO effective 17th September 2026.

Dr. Acharya brings nearly three decades of experience in the Power, Mining, and Infrastructure sectors, with prior experience at organizations including GRIDCO, NTPC, and Tata Power. His academic qualifications include a Ph.D. from Utkal University and an MBA. He is a Fellow Member of the Institute of Cost and Management Accountants of India and an Associate Member of the Institute of Company Secretaries of India.

Strategic Focus and Experience

Dr. Acharya’s professional contributions include involvement in major infrastructure initiatives, such as the Phase-II Project of Chennai Metro Rail Limited (CMRL). During his tenure at NLC India, he has been credited with:

• Leading initiatives in digital transformation and governance reforms, including ERP modernization and finance centralization.
• Advancing strategic initiatives for the acquisition of coal and critical mineral blocks.
• Supporting renewable energy projects.
• Steering joint ventures with state utilities.

He has played a significant role in supporting NLCIL’s growth roadmap, which aims to achieve over 20 GW of power generation capacity and over 100 MTPA of mining capacity by 2030.

Investor Takeaway

The appointment of a regular CMD provides stability at the helm of the company. Investors should monitor how the new leadership continues to execute the 2030 capacity expansion roadmap and manages the ongoing transition in finance leadership following Dr. Acharya's departure from the CFO position.

Management Update

NLC India Ltd has announced the appointment of Dr. Prasanna Kumar Acharya as the new Chairman and Managing Director (CMD) of the company. The appointment was confirmed following approval from the Ministry of Coal, Government of India, and became effective on September 17, 2026. Dr. Acharya’s tenure is set for five years from the date of assuming charge, or until further government orders, whichever is earlier.

Consequent to his elevation to CMD, Dr. Acharya has relinquished his previous positions as Director (Finance) and Chief Financial Officer (CFO) of the company, effective September 17, 2026. Shri Sanoj Kumar Jha, who had been holding the additional charge of CMD, has formally handed over the responsibilities to Dr. Acharya.

Appointee Profile

Dr. Prasanna Kumar Acharya brings nearly three decades of experience across the power, mining, and infrastructure sectors. Prior to his role at NLC India, he held positions at GRIDCO, NTPC, and Tata Power. His educational background includes a Ph.D. from Utkal University, an MBA, a Master of Commerce from Ravenshaw University, and a Bachelor of Laws (LLB) from M.S. Law College, Cuttack. He is a Fellow Member of the Institute of Cost and Management Accountants of India and an Associate Member of the Institute of Company Secretaries of India.

Strategic Leadership and Roadmap

During his prior tenure as Director (Finance) at NLC India, Dr. Acharya led several key initiatives, including:

• Digital Transformation: Overseeing ERP modernization, centralization of finance functions, and the adoption of AI-enabled systems.
• Infrastructure: Contributing to major projects, including the Phase-II Project of Chennai Metro Rail Limited (CMRL), with an estimated value exceeding Rs 63,000 crore.
• Growth Initiatives: Steering joint ventures with State utilities and supporting the company's long-term roadmap.

As CMD, Dr. Acharya is tasked with continuing the execution of NLC India’s strategic roadmap, which aims to achieve 20 GW of power generation capacity and over 100 MTPA (Million Tonnes Per Annum) of mining capacity by 2030.

Joint Venture Incorporation

NLC India Limited (the Company) informed the stock exchanges regarding the incorporation of a joint venture (JV) company, "NIRL PTC RENEWABLES LIMITED," by its wholly-owned subsidiary, NLC India Renewables Limited (NIRL). The Ministry of Corporate Affairs issued the Certificate of Incorporation for the new entity on September 16, 2026.

Key Transaction Details

• JV Name: NIRL PTC RENEWABLES LIMITED
• Partners: NLC India Renewables Limited (NIRL) and PTC India Limited
• Equity Participation: 74:26
• Primary Objective: Setting up green energy projects across India.

Investor Takeaway

The formation of this joint venture aligns with NLC India's strategic focus on expanding its green energy portfolio. The partnership structure with a 74:26 stake distribution underscores a collaborative approach for future large-scale renewable projects. Investors should monitor future updates regarding project timelines, capital allocation, and operational milestones for this new entity.

Appointment of Joint Statutory Auditors

NLC India Limited has intimated the stock exchanges regarding the appointment of Joint Statutory Auditors for the financial year 2026-27. The appointment was communicated by the Office of the Comptroller and Auditor General of India (CAG) vide letter dated September 8, 2026.

Auditor Details

The company has appointed the following two firms as Joint Statutory Auditors for a term of one year (FY 2026-27):

Investor Takeaway

This development is a standard statutory procedure for a Government of India enterprise. The appointment does not require further shareholder action at this stage and is in line with regular regulatory compliance requirements.

Key Highlights

Order and Capacity Update

NLC India Ltd has informed the exchanges that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has successfully secured a 200 MW wind power project. This project was awarded by SJVN Limited following participation in a Request for Selection (RfS) process.

NIRL competed for a share of a 600 MW tender for ISTS (Inter-State Transmission System) connected wind power projects on a PAN India basis. The award was conducted through a tariff-based competitive bidding process.

What This Means for Investors

This development is a positive indicator of the company's expansion into the renewable energy sector, specifically wind power. Securing an order from a major public sector player like SJVN Limited validates the subsidiary's operational readiness and bidding capabilities. For existing shareholders, this adds to the growing pipeline of renewable projects under the NLC India umbrella. Investors should continue to monitor updates regarding project implementation, the signing of subsequent Power Purchase Agreements (PPAs), and any further guidance on commissioning timelines.

Investor Takeaway

NLC India Ltd continues to execute its growth strategy in the renewable energy space through its subsidiary, NIRL. The receipt of the Letter of Award for 200 MW of wind power capacity is a material, positive business development. While the order is significant, investors should remain focused on future disclosures regarding capital expenditure requirements and project execution milestones.

Key Highlights

AGM Logistics

NLC India Limited will hold its 70th Annual General Meeting (AGM) on September 29, 2026, at 3:00 PM IST via Video Conference (VC) or Other Audio-Visual Means (OAVM). Participation does not require physical presence.

Dividend and Shareholder Instructions

The Board of Directors recommended a final dividend of Rs. 0.25 per equity share (face value Rs. 10) for FY 2025-26, subject to approval by members at the AGM.

• Physical Shares: Shareholders holding shares in physical form must submit PAN and KYC details to the Registrar and Transfer Agent (RTA) by September 22, 2026, to ensure dividends are processed via electronic mode.
• Demat Shares: Shareholders are requested to verify their core banking details (IFSC/MICR) in their demat accounts. Dividends will be credited only electronically; cheques or demand drafts will not be issued for rejected electronic transfers.
• Taxation: Tax will be withheld on dividends at prescribed rates. Shareholders seeking tax exemption must submit the required forms through the company-provided link by September 22, 2026.

E-Voting Details

Remote e-voting is scheduled from 9:00 AM on September 25, 2026, to 5:00 PM on September 28, 2026. Entitlement to vote and attend the AGM is restricted to shareholders recorded in the Register of Members or Beneficial Owners as of the cut-off date, September 22, 2026.

Investor Takeaway

The announcement formalizes the logistics for the upcoming AGM and outlines mandatory compliance actions for shareholders. Existing shareholders should ensure their KYC and bank account details are correctly updated with their RTA or Depository Participant before the September 22, 2026, deadline to prevent delays in dividend receipt.

Publication Details. NLC India Ltd has published a notice concerning its 70th Annual General Meeting (AGM) in accordance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The publication appeared in Dinamani and Financial Express on September 8, 2026. ## Important Dates. AGM Date: September 29, 2026, at 15:00 IST. Record Date for Dividend: September 22, 2026. Book Closure Period: September 23, 2026, to September 29, 2026. Remote E-voting Period: September 25, 2026 (09:00 AM) to September 28, 2026 (05:00 PM). ## Shareholder Instructions. The meeting will be held via Video Conferencing (VC) or Other Audio Visual Means (OAVM). Shareholders should access the AGM notice and Annual Report via the company website or stock exchange platforms. E-voting facilities are provided through NSDL. Shareholders who have not registered their email IDs are requested to follow the KYC submission process via the registrar's website. ## What Shareholders Should Know. The meeting agenda includes the payment of a final dividend, subject to approval. Shareholders holding shares as of the record date (September 22, 2026) are eligible to cast their votes. Detailed instructions for participating in the meeting and the e-voting process are included in the official AGM notice documentation.

Key Highlights

Long-Term Growth Roadmap

NLC India Limited has outlined specific growth targets to be achieved by 2030, reinforcing its commitment to energy security and sector diversification:

• Power Generation: Targeting an increase to 20,130 MW (including significant expansion in renewable capacity to 10,110 MW from the current 1,734 MW).
• Coal & Lignite: Aiming to increase lignite extraction to 44.85 MTPA (from 30.10 MTPA) and coal mining capacity to 62.50 MTPA (from 20.00 MTPA).
• Critical Minerals: Planning to establish 1.00 MTPA of critical minerals mining capacity by 2030 to support strategic mineral security.

ESG and Sustainability Governance

The company has implemented a comprehensive ESG governance framework overseen by an ESG Committee of the Board. The report confirms that policies covering the nine principles of the National Guidelines on Responsible Business Conduct (NGRBC) are approved by the Board and integrated into business operations.

Operational Safety and Environmental Performance

• Safety: The company reported LTIFR of 0.134 for employees and 0.094 for workers in FY 2025-26. Safety measures include the deployment of fire detection systems, automated dust suppression (water sprinklers and fog cannons), and mandatory initial/periodical medical examinations for mine personnel.
• Resource Management: In FY 2025-26, the company utilized 60% of its capital expenditure and 23% of its R&D spending on technologies to improve environmental and social impacts, including carbon emission reduction and renewable energy projects.
• Compliance: The report notes that all plants are operating with valid clearances from State Pollution Control Boards (SPCBs) and that real-time air quality monitoring is connected to SPCB servers online.

Management Commentary

Management highlighted the challenge of balancing energy security with environmental imperatives. The strategy involves transitioning toward a more diversified energy portfolio, focusing on renewable energy projects, afforestation, land reclamation, and the adoption of green mining technologies to reduce the carbon footprint.

Investor Takeaway

This BRSR filing provides transparency into NLC India Limited's operational and sustainability targets. For shareholders, the key focus areas are the company's ambitious 2030 capacity expansion goals across its power, mining, and critical minerals segments, as well as the execution of its ESG initiatives. The reporting includes independent assurance, which adds credibility to the environmental and social performance metrics disclosed.

Key Highlights

Transaction Details

NLC India Ltd has proposed the transfer of its Renewable Energy Assets, with an aggregate capacity of 2,138.96 MW, to its wholly-owned subsidiary, NLC India Renewables Limited (NIRL). This transfer includes 1,783.96 MW of operational capacity and 355 MW under construction.

• Total Consideration: The transfer is valued at approximately ₹3,439.60 crore, comprising ₹2,419.24 crore for 1430 MW and an estimated ₹1,020.36 crore for 708.96 MW (subject to auditor certification).
• Strategic Rationale: Management stated that the transfer aims to carry the renewable energy business through a separate entity to enhance operational efficiency, allow for specific capital allocation, and unlock the potential value of the RE business. The move is also intended to help the subsidiary independently pursue growth opportunities and participate in tenders, which may include a potential Initial Public Offering (IPO) for NIRL.

Corporate Action Details

Shareholders will be asked to approve the final dividend of ₹0.25 per equity share (2.5%) for the financial year 2025-26. This is in addition to the interim dividend of ₹3.6 per equity share (36%) already paid, resulting in an aggregate dividend of ₹3.85 per equity share (38.5%) on the paid-up share capital.

Board and Governance Update

The AGM agenda includes the appointment of several new directors:

• Shri Rajesh Pratap Singh Sisodia: Appointed as Director (Projects and Planning).
• Shri Anil Meshram: Appointed as Government Nominee Director.
• Shri Gopal Singh: Appointed as Government Nominee Director.
• Shri Poonam Chandrakar: Appointed as an Independent Director.

Additionally, the company is seeking ratification for the remuneration of its Cost Auditors, Dhananjay V Joshi Associates, for the financial year 2026-27, with a fixed audit fee of ₹6 lakh plus expenses.

Investor Takeaway

The 70th AGM notice highlights a major strategic restructuring with the transfer of significant renewable energy assets to a subsidiary. Existing shareholders should monitor the progress of this transfer and any further disclosures regarding the subsidiary's planned IPO, as this represents a key effort by the company to unlock value in its renewable energy portfolio.

Publication Details

NLC India Ltd has published a notice concerning its 70th Annual General Meeting (AGM) in Financial Express and Dinamani on September 6, 2026. The company serves as a Government of India Enterprise under the 'Navratna' category.

Meeting Information

The 70th AGM is scheduled to be held as follows:

• Date: September 29, 2026
• Time: 15:00 IST
• Mode: Video Conferencing (VC) / Other Audio Visual Means (OAVM)

Shareholder Instructions

• Annual Report Access: The electronic copy of the Annual Report and AGM Notice will be distributed to shareholders with registered email addresses. Shareholders without registered emails will receive physical copies of documents at their postal addresses. Documents are also available on the company website and the websites of BSE, NSE, and NSDL.
• E-Voting: The company has appointed NSDL to facilitate remote e-voting. Instructions for accessing the e-voting platform and joining the meeting via VC/OAVM will be provided in the formal Notice of AGM.
• Mandatory Updates: Shareholders holding securities in physical mode are required to furnish PAN, postal address with PIN code, mobile number, and bank account details via Form ISR-1 to the company's Registrar and Share Transfer Agent (RTA).
• Dividend Mandate: Shareholders holding shares in physical mode who have not updated their bank mandates for electronic dividend payments should submit the requisite forms along with proof of bank details (e.g., cancelled cheque) to the company or RTA.
• Dematerialized Holders: Shareholders in dematerialized mode should ensure their email addresses and mobile numbers are updated with their respective Depository Participants.

Key Highlights

The Board of Directors of NLC India Ltd, in their meeting held on September 5, 2026, approved key financial and corporate decisions. The most notable development is the decision to raise USD 100 million via unsecured External Commercial Borrowing (ECB) from Punjab National Bank. This funding is earmarked specifically for capital expenditure across the company's thermal, mining, and diversification projects.

Dividend and AGM Schedule

The company has finalized the schedule for its shareholder-related events:

The book closure period covers the register of members, share transfer books, demat records, and the register of beneficiaries through NSDL and CDSL. The 70th Annual General Meeting is scheduled to be held on September 29, 2026, at 15:00 Hours via Video Conferencing (VC) or Other Audio-Visual Means (OAVM).

Strategic Financing

• Facility: Unsecured External Commercial Borrowing (ECB)
• Amount: USD 100 million
• Lender: Punjab National Bank
• Purpose: To meet capital expenditure requirements for thermal, mining, and diversification projects.

What This Means for Investors

The approval for new debt confirms the company's commitment to its ongoing capital expenditure cycle. Investors should monitor the progress of these specific projects, as they form the basis for this funding. The setting of the dividend record date is a procedural step; shareholders should note that the dividend payout remains subject to the final approval of the shareholders at the upcoming Annual General Meeting.

Investor Takeaway

NLC India is proceeding with both its financing plans and its annual corporate governance cycle. With the AGM date and dividend record date now fixed, shareholders should ensure their records are in order ahead of the September 23, 2026, book closure. The reliance on USD-denominated debt for capex will be a factor for long-term monitoring, particularly regarding interest-rate exposure and repayment timelines.

Corporate Action Overview

NLC India Limited has announced the outcome of its board meeting held on September 5, 2026. The company has approved a significant debt-raising plan and finalized the schedule for its 70th Annual General Meeting (AGM) and associated dividend payout.

Borrowing Update

The Board of Directors has approved the borrowing of unsecured External Commercial Borrowing (ECB) amounting to USD 100 million from Punjab National Bank. The funds are earmarked for capital expenditure requirements related to the company's thermal, mining, and diversification projects.

AGM and Dividend Schedule

The company has set Tuesday, September 22, 2026, as the record date for determining shareholders eligible for the final dividend for the financial year 2025-26. This dividend remains subject to approval by shareholders at the upcoming 70th AGM.

Furthermore, the company's Register of Members, Share Transfer Books, and Demat Records will remain closed from September 23, 2026, to September 29, 2026, to facilitate the 70th AGM. The meeting is scheduled to take place on September 29, 2026, at 15:00 hours via video conferencing or other audio-visual means.

Investor Takeaway

Investors should note the September 22, 2026, record date for dividend eligibility. The approved ECB funding underscores the company's ongoing capital investment in thermal and mining expansion projects. Shareholders are advised to monitor the upcoming AGM proceedings for formal ratification of the dividend and any further strategic updates.

Key Highlights

Corporate Finance Update

NLC India Ltd has received board approval to raise USD 100 million in unsecured External Commercial Borrowing (ECB) from Punjab National Bank. These funds are designated for capital expenditure requirements across the company's thermal, mining, and diversification business units.

Dividend and Shareholder Action

The board has established September 22, 2026, as the record date to determine the eligibility of shareholders for the final dividend for the financial year 2025-26. This dividend payout remains subject to the final approval of shareholders at the company's 70th Annual General Meeting (AGM).

Annual General Meeting

In preparation for the 70th AGM, the company will close its register of members, share transfer books, demat records, and the register of beneficiaries from September 23, 2026, to September 29, 2026. The AGM is scheduled for September 29, 2026, and will be conducted via Video Conferencing (VC) or Other Audio-Visual Means (OAVM), in compliance with MCA and SEBI circulars.

Investor Takeaway

For shareholders, the primary developments are the authorization of new debt funding to drive specific capital projects and the setting of the dividend record date. Investors should note the upcoming AGM date and the register closure period, during which transfers will be suspended, while awaiting final shareholder confirmation on the dividend payout.

Key Highlights

Order and Business Update

NLC India Ltd has informed the exchanges that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has emerged as the successful bidder in a tender process conducted by Gujarat Urja Vikas Nigam Ltd (GUVNL). The tender was for the development of a Standalone Battery Energy Storage System (BESS) in the state of Gujarat, awarded under a Tariff-Based Competitive Bidding framework.

The company has confirmed the receipt of a Letter of Intent (LoI) from GUVNL, marking the official commencement of the project development phase.

Investor Takeaway

This development is significant as it demonstrates NLC India's ability to secure large-scale renewable energy storage projects through competitive bidding. For shareholders, this marks a strategic move into the energy storage segment, which is becoming increasingly critical for grid stability and renewable energy integration. While the LoI is a positive signal, shareholders should track future disclosures regarding the expected investment outlay, the projected timeline for project commissioning, and any impact on the company’s capital expenditure plans.

Key Highlights

Asset and Financial Overview

The proposed transfer includes 708.96 MW of Renewable Energy assets. The financial footprint of these assets based on the Audited Financial Statements of 31st March, 2026, is as follows:

Note: Total company consolidated revenue for FY 2025-26 was Rs. 17,489.53 crore; total equity attributable to owners was Rs. 21,524.76 crore.

Transaction Structure

• Nature of Transfer: The assets are being hived off from the books of NLC India Limited to the books of NIRL.
• Status: This is an addendum to the original intimation dated 31.10.2025.
• Related Party: The transaction is between a holding company and its wholly-owned subsidiary and is being conducted at arm's length based on the book value of the assets.
• Regulatory Compliance: The company confirmed that no amalgamation or merger is envisaged; therefore, compliance with Regulation 37A of SEBI (LODR) Regulations regarding schemes of arrangement is not applicable.

What This Means for Investors

The formalization of the addendum to the BTA marks progress in the company's internal restructuring of its renewable energy portfolio. By moving these assets into a dedicated wholly-owned subsidiary (NIRL), the company is likely consolidating its renewable footprint. As this is an internal hive-off and not an external sale or merger, the immediate financial impact on the consolidated entity is neutral. Investors should monitor the progress of the transfer, which is expected to be completed within the next three months.

Investor Takeaway

This filing provides an update on a previously announced corporate restructuring. The transfer of 708.96 MW of assets to a dedicated subsidiary is a strategic move, but it is an internal realignment. The key watch point for shareholders remains the operationalization of these assets under the new subsidiary and any potential future fundraising or strategic decisions undertaken by NIRL.

Key Highlights

Credit Rating Details

CRISIL Ratings Limited has reviewed and reaffirmed the credit ratings for the company's debt instruments as follows:

Note: The amount for Total Bank Loan Facilities was reduced from the previous figure of Rs. 10,334.7 crore.

What This Means for Investors

The reaffirmation of the 'CRISIL AAA/Stable' rating signals that the rating agency continues to assess the company's financial risk profile as robust. An 'AAA' rating is the highest in the credit rating scale, indicating the highest degree of safety regarding the timely servicing of financial obligations. The reduction in the bank loan facility amount from Rs. 10,334.7 crore to Rs. 9,140.44 crore suggests a decrease in the total utilization of bank credit facilities, which may be attributed to debt repayment or shifts in financing strategies.

Transaction Overview

NLC India Ltd has informed the stock exchanges regarding the incorporation of a new joint venture company, 'NIRL OREDA RENEWABLES LIMITED'. This entity was formed by the company's wholly-owned subsidiary, NLC India Renewables Limited (NIRL), in collaboration with the Odisha Renewable Energy Development Agency (OREDA).

The Ministry of Corporate Affairs issued the Certificate of Incorporation for the new entity on August 31, 2026.

Key Terms

Strategic Relevance

The establishment of 'NIRL OREDA RENEWABLES LIMITED' signifies a formal partnership aimed at expanding the company's footprint in the green energy sector. By engaging with a state-backed agency like OREDA, the joint venture is positioned to leverage local expertise and resources for the deployment of renewable power projects. The 51:49 equity structure implies that NLC India Renewables Limited will maintain a majority stake, ensuring operational control over the joint venture's initiatives.

What This Means for Investors

For shareholders, this development is a concrete step in the company's stated strategy to grow its renewable energy portfolio. Investors should monitor future updates regarding project timelines, capital allocation, and the scale of green energy capacity targeted by this joint venture. As the entity is now incorporated, the focus will shift towards project identification, land acquisition, and final investment decisions for the planned power plants.

Key Highlights

Development Overview

NLC India Limited has officially received a Letter of Intent (LoI) from the Government of Telangana for the grant of Composite Licences (CL) for two mineral blocks. This follows the company's successful participation in the 7th Tranche of the Critical and Strategic Mineral auction conducted by the Ministry of Mines, Government of India, where NLC India emerged as the preferred bidder.

Asset Details

The company has secured rights for the following two blocks located in Sanga Reddy, Telangana:

• Govindpur Vanadium, Titanium & Aluminous Laterite Block
• Parvathapur Vanadium, Titanium & Aluminous Laterite Block

A Composite Licence (CL) typically allows the holder to conduct prospecting operations followed by mining operations, representing a foundational step toward resource extraction and asset development.

Investor Takeaway

For shareholders, this development highlights the company’s ongoing efforts to diversify its asset base beyond its traditional power generation and mining focus into critical and strategic minerals. The successful auction participation demonstrates operational competitiveness. Investors should monitor future updates regarding the conversion of these LoIs into final leases and the subsequent timelines for exploration and potential commissioning.

Key Highlights

Project and Joint Venture Update

NLC India Limited has informed the exchanges that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), is developing a 110 MW solar power project. This project is being executed under the banner of a dedicated joint venture company, NIRL NCRTC Renewables Limited (NNRL).

The venture structure involves an equity participation of 74% by NLC India's subsidiary (NIRL) and 26% by the National Capital Region Transport Corporation Limited (NCRTC).

Power Purchase Agreement (PPA) Details

A Power Purchase Agreement (PPA) has been formally executed between the joint venture, NNRL, and NCRTC at New Delhi. Under the terms of this agreement, the power generated from the 110 MW solar project will be procured by NCRTC under a captive model. The agreement is set for a duration of 25 years.

The project is slated to have a scheduled commissioning date within 24 months from the signing of the PPA, with an annual energy generation requirement stipulated at 180 MU.

What Looks Positive

• Long-Term Revenue Visibility: The 25-year PPA provides a clear and stable long-term revenue stream for the project.
• Strategic Partnership: The joint venture with NCRTC for a captive power model reduces off-take risk by aligning the supply directly with the needs of the partner entity.
• Renewable Push: The project adds 110 MW to the company's renewable energy capacity, aligning with broader national and corporate sustainability targets.

Watch Points

• Execution Timeline: Investors should monitor the progress towards the scheduled commissioning date, which is set for within 24 months of the PPA signing.
• Operational Milestones: While the agreement is signed, achieving the annual generation requirement of 180 MU will depend on the successful commissioning and operational efficiency of the solar facility in Uttar Pradesh.

Investor Takeaway

The formalization of the PPA for the 110 MW solar project is a constructive step for NLC India, confirming the operational roadmap for the newly formed JV. For existing shareholders, this highlights the company's active efforts to expand its footprint in the renewable energy sector through strategic partnerships. Key aspects to track moving forward include the site construction progress and adherence to the 24-month commissioning timeline.

Publication Details - NLC India Limited has published a notice in financial newspapers regarding a special window for the re-lodgement of physical share transfer requests. The notice is in compliance with the SEBI Circular dated January 30, 2026. ## Procedural Context - The company has provided a dedicated window to facilitate the transfer of physical shares that were initially lodged prior to April 1, 2019, but were not processed due to documentation deficiencies. Shareholders are reminded that all re-lodged securities will be issued exclusively in dematerialized form. ## Important Dates - The re-lodgement window is open until February 4, 2027. Shareholders are advised to complete their submissions by this deadline. ## Shareholder Instructions - Affected shareholders must have an active demat account and submit a copy of their Client Master List (CML) along with the original share certificates to the RTA. The RTA is Integrated Registry Management Services Private Limited. For assistance, shareholders may email einward@integratedindia.in or call 044-28140801/803. In-person inquiries can be directed to the RTA office at 2nd Floor, Kences Towers, No. 1, Ramakrishna Street, North Usman Road, T-Nagar, Chennai - 600 017.

Meeting Details

NLC India Limited has formally notified the stock exchanges regarding scheduled interactions with institutional investors. The details of the meeting are as follows:

Governance and Compliance

The company has explicitly stated that these meetings are subject to change due to exigencies. Furthermore, NLC India has confirmed that no Unpublished Price Sensitive Information (UPSI) will be discussed during these interactions, and the conversation will be restricted to general information already available in the public domain.

Regulatory Penalty Announcement

NLC India Limited has informed the exchanges that it received emails from BSE and NSE on August 25, 2026, regarding non-compliance with several provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company has been fined Rs 14,31,340 (including GST) by both BSE and NSE individually.

Nature of Non-Compliance

The regulatory non-compliance pertains to the following areas of corporate governance:

• Composition of the Board of Directors (Regulation 17(1))
• Quorum requirements for Board Meetings (Regulation 17(2A))
• Composition of the Audit Committee (Regulation 18(1))
• Composition of the Nomination and Remuneration Committee (Regulation 19(1)/19(2))
• Composition of the Stakeholders Relationship Committee (Regulation 20(2)/(2A))
• Composition of the Risk Management Committee (Regulation 21(2))
• Failure to appoint a Women Director

Company's Position and Waiver Request

In response to the notices, NLC India has requested a waiver of the fines from both exchanges. The company's argument for the waiver includes two primary grounds:

1. Government Control: As a Government of India enterprise, the authority to appoint Directors to the board is vested with the President of India, not the company's management.
2. Ongoing Engagement: The company states that the Ministry of Coal (MoC), the administrative ministry, is being periodically apprised of the requirement to appoint the requisite number of Independent Directors.

Management has explicitly stated that the non-compliance was neither attributable to negligence or default on the part of the company nor within the control of the management.

Operational Impact

NLC India has clarified that there is no impact on its business operations or other activities due to the imposition of these fines. The total financial implication of this matter is limited to the fines imposed by the exchanges.

Investor Takeaway

For shareholders, the primary issue is a governance shortfall regarding board and committee composition. While the company attributes the delay to the government appointment process for PSU boards, regulatory non-compliance remains a concern. Investors should monitor whether the Ministry of Coal takes action to fill the vacant director positions and whether the exchanges grant the requested waivers for the fines.

Credit Rating Update NLC India Limited has received a credit rating review from India Ratings & Research Private Limited. The rating agency assigned a fresh rating to a specific bank loan facility and affirmed the ratings for other existing debt instruments, including non-convertible debentures and commercial papers. ### Credit Rating Summary | Instrument Type | Amount (₹ crore) | Rating/Outlook | Rating Action |

| :--- | :---: | :--- | :--- |
| Bank loan facilities | 1,102 | IND AAA/Stable | Assigned |
| Non-convertible debenture | 2,500 | IND AAA/Stable | Affirmed |
| Commercial Papers (CPs) | 6,000 | IND A1+ | Affirmed |
| Bank loan facilities | 2,923 | IND AAA/Stable/IND A1+ | Affirmed | ### Investor Relevance An 'IND AAA' rating indicates the highest degree of safety regarding the timely servicing of financial obligations. The affirmation of these ratings across the company's debt portfolio reflects a stable credit outlook and sustained access to capital markets. These ratings are crucial for the company's borrowing cost and overall financial profile, providing clarity to debt investors and shareholders regarding the firm's creditworthiness.

Project Award Overview

NLC India Limited has informed the exchanges that its wholly owned subsidiary, NLC India Renewables Limited, has received a Letter of Award (LoA) from the Solar Energy Corporation of India Limited (SECI). The project involves setting up a 200 MW wind power facility in Koppal, Karnataka, and supplying the generated power to SECI.

Important Figures Used

Strategic Business Update

The receipt of this Letter of Award confirms that the company is actively utilizing its dedicated subsidiary, NLC India Renewables Limited, to execute its renewable energy growth strategy. By securing contracts through central agencies like SECI, the company demonstrates its continued commitment to increasing its non-fossil fuel power generation capacity.

What Looks Positive

Investor Takeaway

This project award represents a clear step forward in the company's renewable energy expansion plans. For investors, the key focus remains on the operational execution of this 200 MW capacity. Continued progress in securing such contracts validates the business model and the company's role in the green energy transition. Investors should track future updates regarding project timelines, capital expenditure, and commercial operational dates.

Compliance Update

NLC India Limited has submitted a disclosure regarding the newspaper publication of its un-audited financial results for the quarter ended June 30, 2026. This action is in accordance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, which mandates listed companies to publish financial results in newspapers to ensure public awareness.

Publication Details

The company confirmed that the financial results notice was published in the following newspapers on August 8, 2026:

• Financial Express (English)
• Dinamani (Tamil)

What This Means for Investors

This filing is a procedural compliance requirement. It serves to confirm that NLC India Limited has met the regulatory obligations for disseminating its quarterly results to the public. Investors should view this as a standard governance activity. This specific filing does not include or provide new financial performance metrics.

Key Highlights

NLC India reported its financial and operational performance for the quarter ended June 30, 2026. The company displayed robust expansion at the group level, significantly outpacing the standalone entity in power generation and financial growth.

Financial Snapshot

Operational Performance

Operational metrics for the quarter showed positive momentum:

• Power Generation: Group Gross Power Generation rose to 8,262.06 MU, a 25% increase from the previous year's Q1 (6,609.40 MU). Standalone Thermal Power Gross Generation was 4,318.85 MU, reflecting 8.27% growth.
• Coal Production: Standalone coal production reached 40.85 LT, up from 37.88 LT in the previous year's Q1.
• Collection Efficiency: The company maintained a 100% collection efficiency for power debtors as of June 30, 2026.

Financial Analysis

There is a notable divergence between standalone and group-level profitability. While Group Revenue and EBITDA grew at 23.29% and 18.71% respectively, the Standalone EBITDA growth was significantly lower at 1.13%. This suggests that recent value creation and operational scaling are being heavily driven by group-level assets rather than core standalone operations.

What Looks Positive

Investor Takeaway

NLC India's results for Q1 2026 highlight the increasing importance of group-level assets to the company's overall financial health. While standalone operations continue to grow, the disparity in EBITDA growth rates indicates that the group's subsidiary or consolidated operations are currently the primary drivers of expansion. Investors should focus on the sustainability of this group-level performance and continue to monitor the standalone EBITDA margins, which appeared tighter during this period.

Key Highlights

Financial Snapshot

Financial Performance Analysis

The company's consolidated revenue from operations for the quarter stood at ₹4,716.75 crore, compared to ₹3,825.61 crore in the same quarter last year. On a standalone basis, revenue was ₹2,871.73 crore versus ₹2,495.60 crore in the year-ago period.

Operational Update: NUPPL

A significant operational milestone for the quarter was the successful achievement of the Commercial Operation Date (COD) for the Ghatampur Thermal Power Project (Unit-3) on June 13, 2026. With this commissioning, the subsidiary Neyveli Uttar Pradesh Power Ltd (NUPPL) has fully commissioned its total installed capacity of 1,980 MW (3 x 660 MW).

Corporate and Regulatory Matters

• Tax Audit: The Board has approved the appointment of M/s. Sundaram & Srinivasan, Chartered Accountants, as the Tax Auditor for the financial year 2025-26.
• Disinvestment: The Government of India successfully conducted an Offer for Sale (OFS) for a 2.73% stake in the company. The institutional portion of the offer was oversubscribed, mobilizing approximately ₹1,260 crore.
• Regulatory Litigation: The company remains engaged in legal matters regarding income tax recoverable from DISCOMs (VSVS matter). It has retained a regulatory deferral liability of ₹413.64 crore (including interest) pending adjudication by the courts.
• Tariff Billing: The company is managing billing differences regarding the NUPPL project, where revenue has been recognized based on interim tariff orders subject to final determination.

Investor Takeaway

The quarter reflects a mixed picture for investors. On the positive side, the full commissioning of the 1,980 MW Ghatampur Thermal Power Project is a significant step toward future revenue generation and operational stability. Consolidated revenue growth compared to the previous year is also notable. However, investors should closely track the ongoing regulatory litigation and the impact of interim tariff billing on cash flows. The strong response to the government's OFS indicates continued market interest in the company.

Key Highlights

Financial Snapshot

Financial Performance

Management has recognized regulatory income of ₹50.86 crore for thermal billing and ₹25.74 crore for other charges for Q1 FY 2026-27 based on CERC Tariff Regulations 2024-29. This reflects the transitional phase as the company awaits final tariff orders.

Significant Provisions

A key development this quarter is the 100% provision made for advances recoverable from M/s BGRSEL related to the NUPPL project, totaling ₹1,453.69 crore as of June 30, 2026. This is a one-time adjustment impacting the financial statements.

Litigation and Regulatory Risk

The company is involved in ongoing litigation regarding ₹386.51 crore billed to DISCOMs for VSVS payments. As of June 30, 2026, the company has retained a regulatory deferral liability of ₹413.64 crore, which includes cumulative interest of ₹27.13 crore. Additionally, billing for NUPPL Unit-II remains provisional, with an adjustment amount of ₹134.85 crore accounted for, subject to final CERC determination.

Business Update

The 660 MW Unit-3 of the Ghatampur Thermal Power Project (GTPP) achieved Commercial Operation Date (COD) on June 13, 2026. This completes the full commissioning of the 1,980 MW (3 x 660 MW) project, which is expected to support future operational revenue capacity.

Management, Auditor, and Compliance Changes

The Board has approved the appointment of M/s. Sundaram & Srinivasan, Chartered Accountants, as the Tax Auditor for the company for the Financial Year 2025-26.

Investor Takeaway

The quarter was marked by the successful full commissioning of the Ghatampur thermal project, a positive for the company's asset base. However, investors should closely monitor the financial impact of the 100% provision on BGRSEL advances and the progress of the sub-judice VSVS payment litigation. Management continues to utilize regulatory deferral accounts to manage revenue in the absence of final tariff orders.

Board Meeting Update

NLC India Limited has officially notified the stock exchanges that a meeting of the Board of Directors is scheduled for Friday, August 07, 2026. The board is expected to consider and approve, among other matters, the unaudited standalone and consolidated financial results of the company for the first quarter of the financial year 2026-27 (period ended June 30, 2026).

Trading Window Closure

In accordance with the company's Code of Internal Procedures and Conduct for Regulation, Monitoring and Reporting of Trading by Designated Persons, the trading window for the company's securities is currently closed. This closure period commenced on June 30, 2026, and will remain in effect until 48 hours after the financial results for the quarter ended June 30, 2026, are declared.

What This Means for Investors

This announcement is a standard compliance requirement under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. For investors, the key takeaway is the confirmed timeline for the upcoming earnings release. The actual financial performance, operational updates, and management commentary to be shared on August 07, 2026, will provide the next set of data points for assessing the company's progress.

Key Highlights

Project Win Details

NLC India Limited has confirmed that its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has received a Letter of Intent (LoI) from Gujarat Urja Vikas Nigam Limited (GUVNL). The scope of the project involves the development of a 900 MW Solar Power Project.

Strategic Importance

This project was secured through a tariff-based competitive bidding process, indicating the company's successful participation in state-level utility tenders. The involvement of GUVNL as the procurer provides clarity on the offtake arrangement for the generated power. This development underscores the role of the subsidiary, NIRL, as a key vehicle for the parent company's growth strategy in the renewable energy sector.

Investor Takeaway

For investors, this announcement confirms continued progress in the company's renewable energy business. The win of a 900 MW solar project is a notable capacity addition. Key aspects to observe moving forward include project timelines, capital expenditure requirements, and the impact on the company's overall renewable energy portfolio mix.

Key Highlights

Important Figures Used

Corporate Action Details

NLC India Limited has utilized the money markets to issue commercial paper. The company completed the allotment of 3,000 commercial papers on July 20, 2026. With a face value of ₹500,000 per instrument, the total value of the issuance stands at ₹150 crore.

This corporate action represents standard treasury management. Companies frequently use commercial papers as short-term debt instruments to address immediate working capital requirements or to optimize short-term liquidity, rather than for long-term capital expenditure or strategic expansion.

What This Means for Investors

For investors, this update serves as a routine disclosure of financial activity. The issuance provides no signal regarding a change in the company's underlying business fundamentals, profitability, or order book status. It is a standard procedure for a company of this size to manage its cash flow through such instruments. Investors should view this as part of the normal course of corporate financial operations.

Investor Takeaway

NLC India Limited has successfully raised ₹150 crore through the issuance of commercial paper. This is a routine liquidity management exercise and does not materially alter the investment thesis. There is no implication of financial stress, nor is it a indicator of significant new business wins or strategic shifts. Existing shareholders may view this as a standard procedural update.

Board Appointment Details

NLC India Limited has formally notified the stock exchanges regarding a change in its board composition. The Ministry of Coal, Government of India, has appointed Shri Poonam Chandrakar as a Non-Official Independent Director.

Appointee Profile

Shri Poonam Chandrakar is a public administrator with over two decades of expertise in governance, public administration, and policy implementation. His career spans various leadership roles in public service, contributing to administrative reforms, infrastructure development, and stakeholder engagement. His professional background includes experience in sectors such as power, mining, and public administration. He holds a Bachelor's Degree in Arts from Kakatiya University, Warangal, and a Diploma in Marketing Management from Indira Gandhi National Open University (IGNOU).

Governance and Compliance

The company has confirmed that the appointment follows the directive from the Ministry of Coal. Additionally, the company affirmed that Shri Poonam Chandrakar is not related to any other Director of the Company and is not debarred from holding the office of Director by any authority. This disclosure is in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Investor Takeaway

This update pertains to a standard board-level appointment for the public sector enterprise. Investors should note the strengthening of the board with an individual possessing relevant experience in the power and mining sectors. The appointment is regulatory in nature and adheres to the governance protocols expected of the company.

Board Composition Update

NLC India Limited has officially appointed Shri Poonam Chandrakar as a Non-Official Independent Director. This appointment is a result of a directive from the Ministry of Coal, Government of India, issued via a letter dated July 15, 2026.

The appointment is effective from July 16, 2026, and is set for a tenure of three years or until further orders, whichever is earlier.

Director Profile

Shri Poonam Chandrakar is an experienced public administrator with over two decades of service. His professional background includes:

• Experience: Expertise in governance, public administration, and policy implementation, with specific exposure to the power and mining sectors.
• Education: Bachelor's Degree in Arts from Kakatiya University, Warangal; Diploma in Marketing Management from IGNOU; and additional courses in Journalism and Arogya Ratna.

Regulatory Compliance

NLC India Limited has affirmed the following regarding this appointment:

• Independence: The company confirmed that Shri Poonam Chandrakar is not related to any of the existing Directors of the company.
• Eligibility: The company has confirmed that the new director is not debarred from holding the office of Director by any order of the Securities and Exchange Board of India (SEBI) or any other relevant authority.

This disclosure aligns with the requirements of Regulation 30 & 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Composition Change

The Ministry of Coal, Government of India, has appointed Shri Gopal Singh (DIN: 11815925) as a Part-time Official Director of the company, effective July 10, 2026. Shri Singh replaces the outgoing Part-time Official Director, Shri Sanoj Kumar Jha (DIN: 11100701).

Leadership Continuity

NLC India Limited has confirmed that Shri Sanoj Kumar Jha, Additional Secretary at the Ministry of Coal, will continue to hold the additional charge of Chairman and Managing Director (CMD) for an initial period of three months. This arrangement is effective from July 1, 2026, and will remain in place until a regular incumbent is appointed or further orders are issued, whichever is earliest.

New Director Profile

Shri Gopal Singh is a 2003 batch Indian Forest Service (IFS) officer of the Bihar Cadre and currently serves as a Joint Secretary in the Ministry of Coal. He holds a Ph.D. in Agronomy from the Indian Agriculture Research Institute, New Delhi. His professional background includes oversight of coal sector administration, policy formulation, welfare initiatives, land acquisition, rehabilitation, and industrial relations.

Regulatory Compliance

As part of the disclosure requirements, NLC India Limited has affirmed that the newly appointed director, Shri Gopal Singh, is not debarred from holding the office of Director by any order of the Securities and Exchange Board of India (SEBI) or any other regulatory authority.

Investor Takeaway

This update is a procedural governance announcement involving the appointment of a government nominee to the company's board. For investors, these changes reflect standard administrative rotation within the Ministry of Coal and do not indicate a change in the company's business operations or strategic direction. Investors should note the continuity of the current CMD, which ensures leadership stability for the company in the immediate term.

Key Highlights| Item | Details || :--- | :--- || Partner | National Aluminium Company Limited (NALCO) || Project Capacity | 1,080 MW (4x270 MW) || Equity Structure | 50:50 (NLCIL:NALCO) || PPA Tenure | 25 Years (100% offtake) || FSA Tenure | 25 Years (with NLCIL) |## Important Figures Used| Metric / Item | Context | Value for Report || :--- | :--- | :--- || Thermal Power Capacity | Planned Project | 1,080 MW || Equity Participation | Joint Venture | 50:50 Ratio || Power Purchase Agreement | Tenure | 25 Years || Fuel Supply Agreement | Tenure | 25 Years || Target Project Support | Aluminium Smelter Expansion | 0.5 MTPA |## Project OverviewNLC India Limited has formalized a Joint Venture Agreement to incorporate a new entity with NALCO. This venture focuses on the development of a 1,080 MW coal-based thermal captive power plant located in Angul, Odisha. The plant is strategically intended to support the captive power needs of NALCO's 0.5 MTPA Aluminium Smelter Expansion Project.## Strategic Structure and OfftakeThe agreement establishes a 50:50 equity participation between NLC India Limited and NALCO, ensuring equal investment and management oversight with shared board nomination rights. A critical aspect for investors is the operational security: the joint venture will enter into a 25-year Power Purchase Agreement (PPA) with NALCO for 100% offtake of power, and a 25-year Fuel Supply Agreement (FSA) with NLC India Limited to source coal from its Machhakata mine or other available sources. This structure is designed to provide long-term revenue stability by neutralizing demand and fuel supply risks.## What Looks Positive* Secured Offtake: The 100% offtake PPA for 25 years provides clear revenue visibility.* Operational Security: The 25-year fuel supply agreement ensures a steady feedstock for the thermal plant.* Strategic Partnership: The collaboration leverages the strengths of two established public sector entities to execute a large-scale infrastructure project.## Concerns and Watch Points| Type | Point | What Shows It | Why It Matters || :--- | :--- | :--- | :--- || Watch Point | Related Party Context | Parties are related to the promoter/group | Investors should note the relationship, although management has clarified the transaction does not fall under 'related party transaction' rules. |## What This Means for InvestorsThis development marks a significant infrastructure addition for the company. The formation of the joint venture, combined with long-term offtake and fuel supply agreements, suggests a low-risk model for capacity expansion. Investors should track the project's construction milestones and the subsequent incorporation of the new entity as this moves from agreement to execution.## Investor TakeawayThe signing of this joint venture agreement with NALCO is a positive development that aligns with the company's focus on scaling its thermal power portfolio. By securing a 25-year PPA for the entire output of the 1,080 MW plant, the company has effectively mitigated long-term demand risk. Shareholders should monitor the implementation schedule and the progress of the smelter expansion project, which serves as the primary anchor for this power demand.

Key Highlights

NLC India Limited (NLCIL) has formalized a strategic partnership with the National Aluminium Company Limited (NALCO) to address power requirements through a new captive thermal power plant.

Joint Venture Details

The Joint Venture agreement involves the collaborative promotion of a new entity by NLCIL and NALCO. This entity will be responsible for the full lifecycle of the project, including development, financing, construction, ownership, and operation. The 50:50 equity structure reflects an equal commitment from both Central Public Sector Enterprises.

Strategic Importance

The project is designed to provide a reliable, long-term power supply to support expansion projects, reflecting the broader commitment of the Government of India to promoting integrated resource development and energy security. This collaboration is viewed as a significant milestone in strengthening synergy between two major state-run entities, focusing on sustainable industrial growth.

What This Means for Investors

For investors, this development represents a clear addition to NLC India's project pipeline. The project provides visibility into future capacity expansion. As this is a captive power project intended to support operations, it serves as a strategic asset for the company. Investors should monitor the project's development milestones and commissioning timelines as they unfold.

Regulatory Compliance Overview

NLC India Limited has submitted its mandatory compliance certificate for the quarter ended 30th June, 2026, in accordance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. This regulation requires listed companies to confirm that their share transfer and dematerialization processes comply with statutory timelines and procedures.

Certification Details

The company confirmed the following based on the certification provided by its Registrar and Share Transfer Agent (RTA), Integrated Registry Management Services Private Limited:

• Share Listing: All shares received for dematerialization have been duly listed on the stock exchanges where the company's shares are already traded.
• Processing Timeline: The company has verified, mutilated, and cancelled the security certificates, and substituted the name of the depository as the registered owner within the statutory 15-day timeframe upon receipt of requests.
• Reporting: The details regarding dematerialized and rematerialized shares have been furnished to the relevant stock exchanges.

What This Means for Investors

This filing is a routine procedural matter. It confirms that the company is adhering to the standard administrative requirements set by SEBI regarding the handling of securities. It does not contain financial results, operational updates, or material information that would impact the company's business performance or valuation.

Investor Takeaway

For investors, this update serves as a confirmation of the company's continued adherence to regulatory governance standards regarding share transfer records. No specific action is required as this is part of the standard corporate governance cycle.

Summary

• NLC India Limited has promoted Shri Kalaga Venkata Ramachandra Subbarao to Executive Director.
• The promotion is effective from May 1, 2026.
• Shri Subbarao possesses over 29 years of extensive experience in finance and management across diverse sectors.

Key Numbers & Dates

• Promotion Effective Date: May 1, 2026 (for Shri Kalaga Venkata Ramachandra Subbarao)

What Changes for the Business

• Appointment of a senior management personnel (Executive Director).
• This is a regulatory compliance filing regarding personnel changes.

⚠️ What Could Go Wrong (source-based)

Concall: Investor Questions & Management Answers

Results Snapshot

What to Track Next

Sundram Fasteners Limited has submitted a regulatory filing on May 1, 2026, announcing its audited financial results for the fiscal year ending March 31, 2026. The company's Board of Directors had met and approved these results during their meeting on April 30, 2026, as per SEBI listing requirements.

Summary

• NLC India Limited has officially notified NSE and BSE that it qualifies as a 'Large Corporate' under SEBI regulations.
• The company reported outstanding borrowings of ₹4,732.13 crore as of March 31, 2026.
• NLC India Limited holds strong credit ratings, including multiple 'AAA' ratings from leading agencies, reinforcing its financial stability.

Key Numbers & Dates

• Outstanding borrowing: ₹4,732.13 crore (as on 31st March, 2026)
• Letter Submission Date: 29.04.2026 (Note: This date appears to be an error in the source document)
• Borrowing reporting deadline: 31st March, 2026
• Relevant SEBI Circular Date: May 22, 2024 (updated on October 15, 2025)
• Credit Ratings: Multiple 'AAA' and 'AAA/A1+' ratings received from agencies like ICRA, CRISIL, CARE, India Ratings, and Infomerics Ratings.

What Changes for the Business

• NLC India Limited's classification as a 'Large Corporate' signifies adherence to enhanced SEBI disclosure and compliance norms for major entities.
• The company's substantial borrowing and strong credit ratings indicate its significant financial scale and capacity to manage its debt obligations effectively.

⚠️ What Could Go Wrong (source-based)

• [Financial] The reported outstanding borrowing of ₹4,732.13 crore as of March 31, 2026, presents a significant debt obligation for the company.
• [RegulatoryLegal] The 'Large Corporate' status is contingent on SEBI's defined applicability criteria, which are subject to regulatory updates and potential changes.

What to Track Next

• Future disclosures and compliance activities by NLC India Limited related to its 'Large Corporate' status.
• Monitoring any updates or modifications to SEBI's framework for large corporates.

Summary

• NLC India Limited (NLCIL) participated in the Tranche-V auction of Critical and Strategic Minerals.
• NLCIL emerged as the Preferred Bidder for two mineral blocks: Semhardih Phosphorite & Limestone Block and Raipura Phosphorite & Limestone Block in Chhattisgarh.
• The company has been granted a composite licence for detailed geological exploration in these blocks.

Key Numbers & Dates

• Mineral Blocks Secured: 2 (Semhardih & Raipura Phosphorite & Limestone Blocks)
• Auction Type: Tranche-V
• Auction Date: 27.05.2025
• Performance Securities Submission Date: 10.06.2025
• Letter of Intent (LOI) Date: 02.09.2025
• Composite Licence Grant Date: 24.04.2026
• Disclosure Letter Date: 25.04.2026

What Changes for the Business

• NLCIL is expanding its mineral resource base by acquiring rights for exploration of new blocks.
• This strategic move could potentially secure future raw material supplies and diversify the company's asset portfolio.

What to Track Next

• Progress on the detailed geological exploration activities in the acquired blocks.
• Any further developments regarding the potential exploitation of these mineral resources.

NLC India Limited, in compliance with SEBI regulations, has opened a special window for investors to re-lodge transfer requests of physical shares. This opportunity is available for transfer requests lodged before April 1, 2019, that were subsequently rejected or returned. The window remains open until February 4, 2027. All shares re-lodged during this period will be issued in dematerialized form, necessitating the submission of a demat account statement and original share certificates. For queries, investors can contact the company's Registrar and Share Transfer Agent.

Summary

• NLC India Limited has responded to a clarification request from BSE regarding a notable increase in its share trading volume.
• The company stated that there are no undisclosed material information or impending announcements from NLC India that would impact the share's price or volume behaviour.
• NLC India has attributed the surge in volume entirely to market conditions, describing it as "absolutely market driven."

Key Numbers & Dates

• Clarification Date: April 17, 2026
• BSE Query Date: April 17, 2026

What Changes for the Business

• No changes indicated by this clarification.

⚠️ What Could Go Wrong (source-based)

• None.

Concall: Investor Questions & Management Answers

• Not applicable for this document type.

Results Snapshot

• Not applicable for this document type.

What to Track Next

• No specific next steps are mentioned in the text.

Summary

• NLC India Limited has submitted a certification under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
• The certification pertains to the quarter and year ended March 31, 2026.
• It confirms compliance regarding the dematerialization and rematerialization of shares.

Key Numbers & Dates

• Letter Date: 04.04.2026
• Period for Certification: Quarter and Year ended 31st March, 2026

What Changes for the Business

• This is a routine regulatory compliance filing and does not indicate any direct changes to the company's business operations.

⚠️ What Could Go Wrong

• This section is not applicable as the source text does not contain any risks or cautionary statements.

Concall: Investor Questions & Management Answers

• This section is not applicable as the source text is not a con-call transcript.

Results Snapshot

• This section is not applicable as the source text is not a financial results announcement.

What to Track Next

• This section is not applicable as the source text does not mention any specific future steps or events.

Summary

• NLC India Limited announced the promotion of Shri Pankaj Kumar to Executive Director (Senior Management Personnel).
• The promotion is effective from April 1, 2026.
• Kumar brings over 28 years of extensive HR leadership experience from various organizations.

Key Numbers & Dates

• Promotion Effective Date: April 1, 2026
• Shri Pankaj Kumar's Experience: Over 28 years

What Changes for the Business

• NLC India Limited has appointed a new Executive Director, Shri Pankaj Kumar, effective April 1, 2026.
• Shri Pankaj Kumar brings over 28 years of HR leadership experience from public sector and multinational organizations to his new role.

Summary

• NLC India Limited has formally informed the stock exchanges about the retirement of its Executive Director, Shri Hemant Kumar.
• The change is effective March 31, 2026, following his attainment of the age of superannuation.
• This intimation is made in compliance with SEBI's Listing Obligations and Disclosure Requirements (LODR) Regulations.

Key Numbers & Dates

• Cessation Date: March 31, 2026 (AN)

Summary

• NLC India announced the successful commencement of coal production from its Pachwara South Open Cast Project on March 29, 2026.
• This marks a significant milestone after the overburden removal began in December 2022.
• The company also detailed its 51:49 equity joint venture with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for a 1980 MW Ghatampur Thermal Power Plant.

Key Numbers & Dates

• Ghatampur Thermal Power Plant JV: NLC India holds 51% equity, UPRVUNL holds 49%.
• Total capacity of Ghatampur Thermal Power Plant: 3 x 660 MW.
• Pachwara South Coal Block: Extractable reserve of 264.84 million tonnes with an average G10 grade.
• Coal Production Start: March 29, 2026.
• Overburden Removal Start: December 19, 2022.
• Coal Block Allotment: October 3, 2016.

What Changes for the Business

• Commencement of coal production at Pachwara South will likely support NLC India's thermal power generation needs, ensuring fuel security.
• The Ghatampur Thermal Power Plant JV is a step towards expanding power generation capacity in collaboration with a state utility.

What to Track Next

• Progress and commissioning of the Ghatampur Thermal Power Plant.
• Production ramp-up and operational efficiency at Pachwara South Coal Block.

Summary

• NLC India Limited informed the stock exchanges about the cessation of three Independent Directors.
• Shri M. T. Ramesh, Dr. Vasant Ashok Patil, and Shri Pradeep Kumar Saraogi will step down on March 27, 2026.
• Their departure is due to the completion of their one-year tenure.

Key Numbers & Dates

• March 27, 2026: Date when Shri M. T. Ramesh, Dr. Vasant Ashok Patil, and Shri Pradeep Kumar Saraogi will cease to be Independent Directors.

What Changes for the Business

• The departing directors will also relinquish their roles as members or chairpersons of various Board of Directors' committees.

Summary

• NLC India Limited has announced the closure of its trading window.
• The closure is related to the upcoming declaration of Audited Financial Results for the quarter and year ending March 31, 2026.
• This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

Key Numbers & Dates

• Trading Window Closure Start Date: March 31, 2026
• Trading Window Reopens: 48 hours after declaration of Audited Financial Results
• Board Meeting Date: To be intimated in due course

What Changes for the Business

• Designated Persons are prohibited from trading in the company's shares during the closed period.
• This is a regulatory requirement to prevent insider trading around financial result announcements.

What to Track Next

• The company will intimate the date of the Board Meeting where the Audited Financial Results will be approved.

Summary

• NLC India Limited has disclosed credit rating reviews from India Ratings & Research.
• The company's ratings for bank loan facilities, Commercial Papers (CPs), and Non-Convertible Debentures (NCDs) have been affirmed.
• Key instruments received ratings including IND AAA/Stable and IND A1+.

Key Numbers & Dates

• Bank loan facilities: ₹2,923 crore rated IND AAA/ Stable/ IND A1+ (Affirmed).
• Commercial Papers (CPs): ₹6,000 crore rated IND A1+ (Affirmed).
• Non-Convertible Debenture (NCD): ₹2,500 crore rated IND AAA/Stable (Affirmed).
• Date of Disclosure: 26.03.2026

Summary

• NLC India Limited's Environmental, Social, and Governance (ESG) score has been upgraded to 61.2.
• The upgrade was provided by Care ESG Ratings Limited, with their report dated March 23, 2026.
• The company received a rating symbol of CareEdge-ESG 2.
• This enhanced score signifies NLC India's strong position in managing ESG risks through superior disclosures, policies, and performance.

Key Numbers & Dates

• ESG Score: 61.2
• Rating Agency Report Date: March 23, 2026
• Announcement Date: March 24, 2026

What Changes for the Business

• The upgraded ESG score of 61.2 (CareEdge-ESG 2) indicates a strong position for NLC India in managing Environmental, Social, and Governance risks.
• This is attributed to the company's superior disclosures, policies, and performance in sustainability.

Summary

• NLC India Limited's rating for its Long Term Bank Facility (Term Loan) has been reaffirmed.
• The amount covered is ₹916.00 crore.
• The rating agency Infomerics Valuation and Rating Ltd. maintained the 'AAA Stable' outlook.

Key Numbers & Dates

• Amount of Long Term Bank Facility (Term Loan): ₹916.00 crore
• Rating Outlook: IVR AAA / Stable
• Rating Action: Reaffirmed
• Report Date: 21.03.2026

Summary

• NLC India Limited has received stable 'AAA' credit ratings from Acuite Ratings & Research for its borrowings.
• The External Commercial Borrowing of ₹1000.00 Crore was assigned an 'AAA' Stable rating.
• The company's Term Loan of ₹950.00 Crore was reaffirmed with the same 'AAA' Stable outlook.

Key Numbers & Dates

• External Commercial Borrowing: ₹1000.00 Crore (Rating: ACUITE AAA | Stable, Action: Assigned)
• Term Loan: ₹950.00 Crore (Rating: ACUITE AAA | Stable, Action: Reaffirmed)
• Report Date: 10.03.2026

Summary

• NLC India Limited has resubmitted its unaudited financial results for the quarter and nine months ended December 31, 2025, due to a technical issue with the DSC signature on the Limited Review Report.
• The company reported consolidated revenue of ₹4,443.05 crore and a consolidated profit after tax of ₹723.92 crore for the third quarter.

Key Numbers & Dates

• Consolidated Revenue (Q3 FY25): ₹4,443.05 Crore
• Consolidated Profit After Tax (Q3 FY25): ₹723.92 Crore
• Standalone Revenue (Q3 FY25): ₹2,885.08 Crore
• Standalone Profit After Tax (Q3 FY25): ₹427.92 Crore
• Board Meeting Date: 10th February 2026
• Revised Submission Date: 06th March 2026
• Financial Period End: 31st December 2025

What Changes for the Business

• The company has submitted revised financial results due to a technical issue with the DSC signature during the initial PDF conversion. No operational changes are indicated by this resubmission.

⚠️ What Could Go Wrong (source-based)

• [Regulatory] The company faces an appeal before APTEL against a TNERC order challenging tariff reduction for solar plants, with ₹10.99 crore disputed and retained under Regulatory Deferral liability.
• [Regulatory] A regulatory liability of ₹128.41 crore related to the Thermal Power Station-II case is pending fresh consideration by CERC.
• [Regulatory] A claim of ₹694.33 crore (including ₹417.63 crore interest) from TNPDCL for TPS-I is disputed, with APTEL ordering partial payment of disputed interest. The company has retained ₹417.63 crore.
• [Execution] NLCIL is facing challenges with land availability at Neyveli for lignite mining, impacting operations, and has undertaken contingency mining at additional costs.
• [Financial] A disputed balance of ₹318.12 crore remains from a ₹386.51 crore billing to DISCOMs for income tax recoverable under the VSVS scheme, with legal proceedings pending.

Results Snapshot

• Consolidated (Q3 FY25): Revenue ₹4,443.05 Cr, Profit After Tax ₹723.92 Cr.
• Standalone (Q3 FY25): Revenue ₹2,885.08 Cr, Profit After Tax ₹427.92 Cr.

What to Track Next

• Investors can track further developments on the various regulatory disputes and land acquisition challenges mentioned in the financial notes.

Summary

• NLC India Limited has promoted Shri Ashok Kumar Mali to the position of Executive Director (Senior Management Personnel).
• The promotion is effective from March 1, 2026.
• Mali has over three decades of experience in financial management and corporate governance.

Key Numbers & Dates

• Effective Date of Promotion: March 1, 2026

What Changes for the Business

• The company has enhanced its senior leadership with the appointment of an experienced executive to the role of Executive Director.

Summary

• NLC India Limited has notified stock exchanges about the upcoming retirement of its Executive Director, Shri Vanchinathan T.
• The cessation of his role is scheduled for February 28, 2026, due to his superannuation.
• This announcement is made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Numbers & Dates

• Date of Cessation: February 28, 2026 (AN)

What Changes for the Business

• The retirement of Shri Vanchinathan T is a planned event due to superannuation, a normal corporate succession process.
• NLC India Limited is adhering to regulatory disclosure norms for senior management personnel changes.

What to Track Next

• Investors may watch for announcements regarding the appointment of a successor to the Executive Director position.

Summary

• NLC India Limited has been fined ₹5.43 lakh (₹0.05 cr) by BSE for non-compliance with SEBI LODR regulations concerning Board composition and appointing a Women Director.
• The company has sought a waiver, arguing the issue lies with government authorities and is beyond management's control.
• NLC India clarified that the fine, including GST, will not impact its operations.

Key Numbers & Dates

• Fine Amount: ₹5.43 lakh (₹0.05 cr) (including GST)
• BSE Notice Date: 2026-02-27
• Waiver Request Date: 2026-02-28
• Disclosure Date: 2026-02-28

What Changes for the Business

• No operational impact is anticipated from the BSE fine.
• The company is actively pursuing a waiver for the imposed penalty.

⚠️ What Could Go Wrong

• [Financial] BSE has imposed a fine of ₹5.43 lakh (₹0.05 cr) on the company.
• [Governance] The company is facing non-compliance issues related to SEBI LODR regulations concerning Board composition and the appointment of a Women Director.

News Crux

NLC India Limited has disclosed the issuance and allotment of Commercial Papers totaling ₹300 Crore.

Financial Deep Dive

The company has raised ₹300 Crore through the issuance and allotment of Commercial Paper on 20.02.2026. This includes two tranches: ₹250 Crore and ₹50 Crore. Each CP had a face value of ₹5,00,000. This issuance increases the company's short-term debt.

Key Events

Commercial Paper Issuance: NLC India Limited issued and allotted ₹300 Crore worth of Commercial Papers on February 20, 2026.

News Crux

NLC India Limited has officially informed the stock exchanges about the availability of the transcript for its Investors Conference Call conducted on February 10, 2026. The company has shared a direct weblink and a navigation path on its website for accessing this document, as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Events

Availability of Investor Conference Call Transcript: NLC India Limited announced the availability of the transcript for its conference call held on February 10, 2026, providing investors access to discussions related to the company's performance and outlook.

News Crux

NLC India Limited (NLCIL) has signed a Memorandum of Understanding (MoU) with National Aluminium Company (NALCO) to strengthen collaboration in the development of thermal and renewable energy projects.

Guidance & Strategy

The MoU provides a structured framework for cooperation, focusing on a proposed 1200 MW Thermal Captive Power Project and renewable energy development to meet NALCO's captive and long-term power requirements in a reliable, cost-effective, and sustainable manner. The collaboration also enables exploration of long-term power tie-ups, including captive and group captive arrangements, as well as long-term coal supply arrangements, ensuring energy and fuel security for identified projects.

Key Events

NLC India Limited signs Memorandum of Understanding (MoU) with NALCO for thermal and renewable energy collaboration.

Outlook

The partnership reflects inter-CPSE collaboration aimed at optimising national resources, strengthening energy security, and supporting India's industrial growth and sustainability objectives. The MoU further envisages joint project development, including the possible formation of a Joint Venture Company.

News Crux

NLC India Limited announced signing an MoU with National Aluminium Company (NALCO) to collaborate on thermal and renewable energy projects.

Key Events

NLC India Limited signs MoU with NALCO for thermal and renewable energy collaboration.

Outlook

The partnership aims to enhance energy security, support industrial growth, and potentially form a Joint Venture Company for project development.

As per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, NLC India Limited has released its un-audited financial results for the third quarter and the cumulative nine months of the fiscal year 2025-2026, which concluded on December 31, 2025. The publication of these results appeared in the Financial Express and Dinamani newspapers.

NLC India Limited, a Government of India Enterprise, has officially informed the stock exchanges (NSE and BSE) about the availability of the audio recording of its Investors Conference Call. The call was held on Tuesday, February 10, 2026, to discuss the financial results for the third quarter of the financial year 2025-26 (Q3 FY2025-26).

This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (LODR). Investors and interested parties can access the audio recording through the path or weblink provided by the company. The recording is hosted on NLC India's website under the 'Investors' section, specifically within the 'Disclosures under Regulation 46 of the LODR' subsection, pertaining to the schedule of analyst or institutional investor meets and presentations. The direct weblink for the audio recording of the Q3 FY2025-26 results conference call is also provided.

NLC India Limited (NLCIL) has announced its financial and physical performance for the nine months ended December 2025, marking all-time high figures for revenue and profit after tax on a consolidated basis. The group reported a total revenue from operations of ₹12,447.07 Cr, an increase of 8.74% compared to ₹11,446.97 Cr in the corresponding period of the previous year. Profit After Tax (PAT) also reached an all-time high of ₹2,288.02 Cr, showing a marginal growth of 1.91% from ₹2,245.14 Cr in the prior year. EBITDA for the group stood at ₹4,898.62 Cr, up 4.34% YoY.

On a standalone basis, NLCIL achieved revenue from operations of ₹7,945.59 Cr, a 5.06% increase from ₹7,562.63 Cr in the same period last year. Standalone PAT was ₹1,281.59 Cr, a 3.04% rise from ₹1,243.76 Cr. Standalone EBITDA was reported at ₹3,239.80 Cr, a 1.03% increase YoY. The company's net worth grew by 8.97% YoY to ₹18,535.20 Cr as of December 31, 2025. Cash realization from debtors exceeded ₹10,000 crore, reaching ₹10,242 crore. The company also declared an interim dividend of 36% (₹3.60 per share), the highest in five years, and recorded a Capital Expenditure (CapEx) of ₹6,242 crore up to December 2025, exceeding the annual target by 23%.

Significant operational milestones were achieved during Q3 FY25-26. NUPPL GTPP's Unit II (660 MW) achieved Commercial Operation Declaration (COD) on December 9, 2025. The Talabira Mine recorded its highest single-day coal production (1,01,040 Tonnes) and dispatch (91,124 Tonnes) on December 30 and 31, 2025, respectively. Pachwara South Open Cast Mines commenced operations on December 19, 2025, with coal production expected in Q4 FY25-26. Furthermore, NLCIL commissioned its highest capacity single-location Solar Plant, a 300 MW SPP at Barsingsar, on January 23, 2026.

Strategic initiatives include receiving a Letter of Award (LoA) from NCRTC for an 110 MW solar project, signing a Coal Mining Agreement for the North Dhadu mine, and signing its maiden Green Loan agreement for JPY 15.464 billion (USD 100 million) with SMBC to fund renewable energy projects. NLC India's subsidiary, NIRL, signed a JV agreement with PTC India Ltd for 2000 MW green energy capacity and an MoU with OREOA for renewable projects in Odisha. DIPAM also approved a JV between NIRL and MAHAPREIT for renewable energy collaboration. A Business Transfer Agreement was signed to transfer RE Assets from NLCIL to NIRL, effective January 1, 2026. The company also received an 'Excellent' rating for FY2024-25 under the MoU evaluation by OPE.

NLC India Limited - Financial Results Analysis (Q3 & 9M FY26)

Financial Performance

NLC India Limited announced its un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, approved by the Board on February 10, 2026.

Standalone Results:

• Quarter Ended December 31, 2025 (Q3 FY26):
  • Revenue from Operations: ₹2,885.08 Cr, a YoY increase of 4.01% and QoQ increase of 12.48%.
  • Profit Before Tax (PBT): ₹572.67 Cr, a YoY increase of 2.96% and QoQ decrease of 16.00%.
  • Profit for the period: ₹427.92 Cr, a YoY increase of 4.78%.
  • Operating Margin: 12.34%, a decrease of 4.23 percentage points YoY.
  • Net Profit Margin: 15.48%, an increase of 1.11 percentage points YoY.
  • Basic EPS (after regulatory adjustment): ₹3.09, a YoY increase of 4.75%.
• Nine Months Ended December 31, 2025 (9M FY26):
  • Revenue from Operations: ₹7,945.59 Cr, a YoY increase of 5.07%.
  • Profit Before Tax (PBT): ₹1,783.23 Cr, a YoY decrease of 0.36%.
  • Profit for the period: ₹1,281.59 Cr, a YoY increase of 3.04%.
  • Operating Margin: 15.58%, a decrease of 2.00 percentage points YoY.
  • Net Profit Margin: 15.57%, a decrease of 0.89 percentage points YoY.
  • Basic EPS (after regulatory adjustment): ₹9.24, a YoY increase of 2.56%.

Consolidated Results:

• Quarter Ended December 31, 2025 (Q3 FY26):
  • Revenue from Operations: ₹4,443.05 Cr, a YoY increase of 0.71% and QoQ increase of 6.33%.
  • Profit Before Tax (PBT): ₹842.60 Cr, a YoY increase of 1.55% and QoQ decrease of 8.57%.
  • Profit for the period: ₹724.01 Cr, a YoY increase of 4.02%.
  • Operating Margin: 17.36%, an increase of 1.43 percentage points YoY.
  • Net Profit Margin: 16.80%, a decrease of 2.41 percentage points YoY.
  • Basic EPS (after regulatory adjustment): ₹5.22, a YoY increase of 0.20%.
• Nine Months Ended December 31, 2025 (9M FY26):
  • Revenue from Operations: ₹12,447.07 Cr, a YoY increase of 8.74%.
  • Profit Before Tax (PBT): ₹2,357.54 Cr, a YoY decrease of 15.41%.
  • Profit for the period: ₹2,288.02 Cr, a YoY increase of 1.91%.
  • Operating Margin: 18.82%, an increase of 0.86 percentage points YoY.
  • Net Profit Margin: 18.00%, a decrease of 2.99 percentage points YoY.
  • Basic EPS (after regulatory adjustment): ₹16.50, a YoY increase of 1.91%.

Key Financial Metrics & Ratios

• Current Ratio: Standalone was 0.80 and Consolidated was 0.77 as of December 31, 2025, indicating tight liquidity.
• Debt-to-Equity Ratio: Standalone stood at 0.50, while the Consolidated ratio was 1.24.
• Regulatory Deferral Account: Significant movements were recorded due to ongoing regulatory disputes and tariff adjustments.

Significant Events & Notes

• Operational Updates: NUPPL (Subsidiary) achieved Commercial Operation Declaration for Unit #2 (1,980 MW) on December 9, 2025. Capacity of 106 MW was commissioned under the CPSU Scheme at Barsingsar.
• Strategic Initiatives: The company transferred its 1430 MW Renewable Energy Assets to its wholly-owned subsidiary, NLC India Renewables Limited, effective January 1, 2026. A Joint Venture agreement was signed with PTC India Limited for the development of 2000 MW green energy capacity.
• Regulatory & Legal Matters: Multiple ongoing disputes and appeals are being pursued concerning tariff adjustments for solar and thermal power plants, recovery of income tax under the VSVS scheme, and new mineral-bearing land taxes. Substantial amounts are retained under regulatory deferral liability pending resolution.
• Operational Challenges: The company highlighted a deficit in land availability for lignite mining at Neyveli, impacting operations and necessitating contingency mining at additional costs.
• Dividend: An Interim Dividend of 36% (₹3.60 per equity share) was declared for FY 2025-26.

Outlook

The report does not provide explicit forward-looking guidance. The company's focus appears to be on managing ongoing regulatory complexities, addressing land acquisition challenges for mining operations, and optimizing its core business segments, complemented by the strategic divestment of renewable assets to a subsidiary.

NLC India Limited announced its unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, on February 10, 2026.

Financial Performance:
Standalone revenue from operations for Q3 FY26 stood at ₹2,885.08 Cr, a 4.0% increase YoY from ₹2,774.68 Cr in Q3 FY25, and a 12.5% increase QoQ from ₹2,564.91 Cr in Q2 FY26. Consolidated revenue was ₹4,443.05 Cr, up 0.7% YoY from ₹4,411.47 Cr and up 6.3% QoQ from ₹4,178.41 Cr. For the nine months ended December 31, 2025, standalone revenue was ₹7,945.59 Cr (up 5.1% YoY), and consolidated revenue was ₹12,447.07 Cr (up 8.7% YoY).

Standalone Profit After Tax (PAT) for Q3 FY26 was ₹427.92 Cr, up 4.8% YoY from ₹408.40 Cr, but down 11.8% QoQ. Consolidated PAT was ₹724.01 Cr, up 4.0% YoY from ₹696.03 Cr, with a marginal 0.1% decrease QoQ. For the nine months, standalone PAT decreased by 1.9% YoY to ₹1,281.59 Cr, while consolidated PAT increased by 1.9% YoY to ₹2,288.02 Cr.

Operating margins faced pressure. The standalone operating margin declined to 12.34% in Q3 FY26 from 16.57% in Q3 FY25. Consolidated operating margin improved to 17.36% from 15.93% YoY. Standalone net profit margin was 15.48% (vs. 14.37% YoY), while consolidated net profit margin was 16.80% (vs. 19.21% YoY).

Earnings Per Share (EPS) showed a decline for the nine-month period. Standalone basic EPS (after regulatory deferral adjustments) was ₹9.24 for 9M FY26, down from ₹13.70 in 9M FY25. Consolidated basic EPS was ₹16.50 for 9M FY26, down from ₹19.57 YoY.

Financial Deep Dive:
The standalone Debt Equity Ratio increased to 0.50 as of December 31, 2025, from 0.43 at the end of FY25. The consolidated Debt Equity Ratio stood at 1.24. Liquidity metrics showed tightening, with the standalone current ratio falling to 0.80 (vs. 1.24 YoY) and consolidated current ratio at 0.77 (vs. 1.02 YoY).

Outlook and Discussion:
No forward-looking revenue or profit guidance was provided by the management. Growth is anticipated from capacity expansions, including solar power projects and the commercial operation of NUPPL Unit #2. The company has also signed a Joint Venture with PTC India for 2000 MW of green energy capacity and transferred its renewable energy assets to a wholly-owned subsidiary, NLC India Renewables Limited.

Significant risks highlighted include ongoing land acquisition challenges at Neyveli, impacting mining operations, and numerous regulatory appeals and disputes concerning tariffs, tax recoveries, and new mineral land taxes. These matters lead to complex revenue recognition and substantial regulatory deferral liabilities.

Crucially, the independent auditors' report flagged a 'Material Uncertainty Relating to Going Concern' due to the deficit in land availability for lignite mining at Neyveli, casting potential uncertainty on the company's future operations.

Key Events:

• NLC India declared an interim dividend of 36% (₹3.60 per share) for FY25-26.
• A JV was signed with PTC India for 2000 MW green energy capacity.
• Renewable energy assets (1430 MW) were transferred to NLC India Renewables Limited effective January 1, 2026.
• NUPPL subsidiary's Unit #2 (1,980 MW) achieved commercial operation.
• Strike at Talabira coal mines was reported, with production augmented to mitigate impact.

The news is a regulatory disclosure from NLC India Limited regarding the issuance of Commercial Papers.

News Crux

NLC India Limited announced the issuance and allotment of 26,000 Commercial Papers (CPs) totaling ₹1300 Crores on February 6, 2026.

Financials

This issuance represents a short-term borrowing activity. The company raised ₹1300 Cr by issuing CPs with a face value of ₹5 Lakhs each. This will impact the company's short-term liabilities and cash position on the balance sheet and cash flow statement. No specific profitability or margin data is provided in this disclosure.

Key Events

The primary event is the successful issuance of Commercial Paper, which is a short-term debt instrument. The disclosure adheres to SEBI (LODR) Regulations, 2015.

Outlook

No forward-looking guidance or outlook is provided in this specific announcement.

NLC India Limited has announced that it will hold a conference call with investors and analysts on Tuesday, February 10, 2026, at 17:00 IST. The purpose of the call is to discuss the company's financial results for the quarter ended December 31, 2025 (Q3FY26). The conference call will feature the Chairman and Managing Director, along with other Functional Directors and Senior Management. NLC India Limited has clarified that no unpublished price sensitive information (UPSI) will be discussed during the interactions.

NLC India Limited has officially announced its intention to hold a conference call with investors and analysts on Tuesday, February 10, 2026, commencing at 17:00 hours IST. The primary purpose of this call is to discuss the company's financial results for the quarter that concluded on December 31, 2025 (Q3FY26). The conference call will be led by Shri M. Prasanna Kumar, the Chairman and Managing Director, accompanied by other Functional Directors and Senior Management personnel from the company.

This interaction is crucial for stakeholders as it offers an opportunity to gain insights into the company's performance during the third quarter of the fiscal year 2025-26. While the specific financial results are not detailed in this announcement, the management is expected to elaborate on key performance indicators, revenue, profitability, and other significant financial aspects. The company has explicitly stated that no unpublished price sensitive information (UPSI) will be part of the discussion, ensuring fair and transparent communication.

The notice also includes comprehensive details for call participation, such as universal access numbers for various countries (Singapore, Hong Kong, UK, USA), toll-free options, and a diamond pass registration link for seamless entry. Contact information for call coordinators from ICICI Securities is also provided for any queries or assistance required.

This conference call signifies a standard post-earnings communication process, allowing NLC India Limited to engage directly with the investment community, address their queries, and provide context to the reported financial figures. Investors will likely be looking for updates on operational performance, segmental contributions (if applicable), any new project developments, and management's outlook for the remainder of the fiscal year and beyond.

NLC India Limited has issued a regulatory filing to the National Stock Exchange of India Ltd. and BSE Ltd. as a prior intimation under Regulation 29 and 50 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Board of Directors will convene for a meeting on Tuesday, February 10, 2026. The primary purpose of this meeting is to consider and approve the unaudited financial results of the company, both on a standalone and consolidated basis, for the quarter and the nine months that concluded on December 31, 2025. Additionally, the company reiterated its internal code of conduct regarding insider trading, stating that the trading window for designated persons remains closed from December 31, 2025, until 48 hours after the declaration of these financial results. This announcement serves as a procedural notification and does not contain specific financial performance data, forward-looking guidance, or commentary on operational aspects. The actual financial outcomes and any related discussion will be available upon the release of the results.

NLC India Limited's wholly-owned subsidiary, NLC India Renewables Limited (NIRL), has secured a Letter of Award (LOA) from Solar Energy Corporation of India Limited (SECI) for a significant project involving Energy Storage Systems (ESS). The LOA is for setting up a 600MW coupled with 300 MW / 1800 MWh Energy Storage System (ESS) in India, which was awarded under a tariff-based competitive bidding process. NIRL formally accepted the LOA on February 3, 2026.

The contract entails the setup of the ESS and the supply of power generated from the project for a duration of 25 years, as stipulated by a Power Purchase Agreement (PPA). This is a domestic order focused on power generation and supply.

The execution timeline requires that the Scheduled Commencement of Supply Date (SCSD) for the full project capacity will be 24 months from the PPA's Effective Date. While specific monetary values are not detailed in the announcement, the 'broad consideration or size' of the order is defined by the capacity of the ESS.

It has been confirmed that the promoter, promoter group, and group companies of NLC India Limited hold no interest in SECI, and the awarded order does not constitute a related party transaction.

This award represents a positive development for NLC India Limited, strengthening its presence in the growing energy storage sector and providing long-term revenue visibility through the 25-year PPA. It aligns with efforts to enhance renewable energy infrastructure and grid stability.

News Crux: NLC India Limited has successfully commissioned the third and final phase of its 300 MW Solar Project located in Barsingsar, Bikaner, Rajasthan, with an additional capacity of 141.17 MW. This operational update was made in compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Quarterly/Annual Results: This announcement does not contain any financial performance metrics such as quarterly or annual results, revenue figures, EBITDA, PAT, margins, or EPS.

Guidance & Concall Commentary: There is no forward-looking guidance, management outlook, or details from any analyst calls provided in this communication.

Financials: This report does not include any information related to the company's income statement drivers, balance sheet (assets, liabilities, net debt, working capital, liquidity), cash flow (operating, investing, financing, free cash), or key financial ratios.

Key Events: The primary event detailed is the commissioning of the final 141.17 MW phase of the 300 MW Solar Project. The first two phases were previously commissioned on August 26, 2025 (52.83 MW) and November 2, 2025 (106 MW). With the successful commissioning of the entire 300 MW capacity, NLC India Limited's total installed renewable energy capacity has now increased to 1,766 MW.

Outlook: This operational milestone signifies a growth in NLC India's renewable energy portfolio, contributing to its overall expansion in this sector.

NLC India Limited (NLCIL), a Government of India Enterprise, has filed an intimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning credit rating assignments for its financial instruments.

The company wishes to communicate the status of credit ratings for its Bonds (NCD) amounting to ₹500.00 Crore, with an outstanding amount of ₹500.00 Crore. NLCIL had previously requested Brickwork Ratings India Private Limited (BWR) for the withdrawal of its credit rating assignments for these facilities.

In lieu of the withdrawal request, NLCIL has obtained new rating rationales from other approved rating agencies. Specifically, its Bonds (NCD) with ISIN – INE589A08043 have been reassigned to India Ratings & Research Private Limited, with the latest rationale issued on 26.03.2025. Ratings from CRISIL are also available, with the latest rationale issued on 03.09.2025.

Despite NLCIL furnishing the required No Objection Certificates (NOCs) from the concerned Debenture Trustees and submitting them to BWR for withdrawal, BWR is reportedly continuing its rating for the instrument, citing their technical requirements. The news clarifies that these updated ratings are available on the respective credit rating agencies’ websites.

NLC India Limited is initiating the transfer of equity shares to the Investor Education and Protection Fund (IEPF) Authority as mandated by the Companies Act, 2013. This action is for shares where dividends have remained unpaid or unclaimed for seven consecutive years, specifically for the 2018-19 interim dividend. The company has notified affected shareholders individually and provided details on its website. Shareholders can still claim their unclaimed dividends and associated shares before April 16, 2026, by contacting the company or its registrar. All subsequent corporate benefits on these shares will also be credited to the IEPF.

NLC India Limited has announced the appointment of Shri Mangat Ram Sharma (DIN: 01367512) as a Part-time Official Director on its Board. The appointment, effective from January 16, 2026, and continuing until further orders, has been made by the Ministry of Coal, Government of India.

Shri Mangat Ram Sharma is a senior IAS officer from the 1992 batch of the Tamil Nadu cadre. He currently serves as the Additional Chief Secretary (ACS) to the Government of Tamil Nadu, Public Works Department (PWD), and also holds the full additional charge of the post of Principal Secretary, Energy Department.

The company has affirmed that Shri Mangat Ram Sharma is not debarred from holding the office of Director by any order from the Securities and Exchange Board of India (SEBI) or any other relevant authority. It was also stated that he is not related to any of the existing Directors of NLC India Limited. This appointment is in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NLC India Limited (NLCIL), a 'Navratna' Central Public Sector Enterprise under the Ministry of Coal, Government of India, has signed a Memorandum of Understanding (MoU) with the Government of Gujarat. The agreement was executed on January 12, 2026, during the Vibrant Gujarat Regional Conference in Rajkot.

The non-binding MoU outlines the development of large-scale Renewable Energy (RE) projects in Gujarat, encompassing Solar, Wind, Hybrid, and Battery Energy Storage Projects. The initiative represents a significant investment potential of approximately ₹25,000 crore and is expected to generate substantial employment opportunities. These projects will be developed through NLC India Renewables Limited (NIRL), NLCIL's wholly-owned subsidiary dedicated to its green energy growth and sustainability objectives.

This strategic collaboration is in line with NLC India Limited's Corporate Plan to achieve 10 GW of Renewable Energy capacity by the year 2030. It underscores the company's commitment to sustainable development, enhancing energy security, and contributing to decarbonisation efforts. The Government of Gujarat will facilitate NLCIL/NIRL in obtaining necessary statutory approvals, clearances, and support, enabling time-bound project implementation. The partnership is expected to bolster Gujarat's position as a leader in renewable energy and support India's national goals of achieving Net Zero emissions.

NLC India Limited has issued a regulatory filing to the National Stock Exchange (NSE) and BSE concerning its interim dividend for the fiscal year 2025-26. In line with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, specifically Regulation 42, the company has announced a modification to the previously fixed record date. The original record date was subject to change due to a trading holiday announced by the stock exchanges on January 15, 2026. Consequently, the company has revised the record date to Tuesday, January 20, 2026. This date will be used to ascertain the entitlement of shareholders for the interim dividend. NLC India Limited has confirmed that the dividend payment process will adhere to all statutory timelines, ensuring that eligible shareholders receive their entitled amount promptly after the record date. This announcement is a routine procedural update aimed at maintaining transparency in corporate actions and ensuring shareholders are well-informed about dividend-related timelines.

Olympic Management & Financial Services Limited has submitted a confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. This certification was issued based on confirmation received from MUFG Intime India Private Limited (formerly Link Intime India Private Limited), the company's Registrar and Transfer Agent. The certificate attests that all security certificates received by the company for dematerialization during the quarter were processed and accepted within the regulatory timelines. Furthermore, it confirms that these certificates were duly mutilated and cancelled after verification, and the name of the depository has been substituted in the company's records as the registered owner, adhering to all stipulated timelines and requirements by SEBI.

NLC India Limited announced key outcomes from its Board meeting held on January 12, 2026. The Board declared an interim dividend of 36% (₹3.60 per equity share) for the Financial Year 2025-26, with January 16, 2026, fixed as the record date for determining eligible shareholders.

A significant strategic decision was the granting of in-principle approval for the listing of its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), through a Public Offer. This move, aimed at diluting up to 25% equity in one or more tranches, aligns with the Government of India's National Monetisation Pipeline and is subject to obtaining requisite approvals. Furthermore, the Board provided in-principle approval to invest up to ₹66.60 Crore in NIRL, via subscription to equity shares at face value, to fund green energy projects to be executed through Joint Venture Companies.

The potential IPO of NIRL signals a strategic intent to monetize renewable assets and facilitate future growth in the green energy sector. The interim dividend distribution underscores the company's financial stability and commitment to shareholder returns.

Baid Finserv Limited has submitted a routine compliance report to the BSE and NSE concerning the 'Special Window' for the re-lodgement of transfer requests for physical shares. This filing, made in accordance with SEBI Circular No. SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 02, 2025, includes a report from the company's Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, dated January 6, 2026. The report covers the period from December 07, 2025, to January 06, 2026. It unequivocally states that there were zero requests received, zero requests processed, zero requests approved, and zero requests rejected concerning physical share transfers during this period. This update serves as a procedural confirmation of compliance with SEBI regulations and does not provide financial performance data or outlook.

CARE Ratings has reaffirmed the highest credit rating of 'CARE AAA; Stable' for NLC India Limited's long-term bank facilities, which have been reduced to ₹1,200 Crore from ₹1,650 Crore. The rating agency also reaffirmed 'CARE AAA; Stable' for its long-term/short-term bank facilities totaling ₹772.00 Crore and 'CARE A1+' for its Commercial Paper program of ₹6,000 Crore. This reaffirmation signifies NLC India's strong capacity to meet its financial obligations, supported by a stable outlook indicating sustained credit quality over the medium term. These ratings reflect the company's position as a 'Navratna' Government of India Enterprise engaged in lignite mining and power generation, along with its expansion into renewable energy and strategic mineral ventures.

PTC India has reported strong financial results for the second quarter of FY2026 (Q2 FY26) and entered into a significant strategic Joint Venture. The company posted a consolidated Profit After Tax (PAT) from continuing operations of ₹222.05 crore, an increase of 36.41% year-on-year. Standalone PAT also demonstrated strength, growing 15% year-on-year to ₹133.82 crore. These results follow a robust Q1 FY26 performance where consolidated PAT had surged 61.1% YoY to ₹242.88 crore.

In a significant strategic move, PTC India's Board approved a Joint Venture with NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited, on November 11, 2025. This JV aims to collaboratively explore and develop green energy projects, including solar, wind, hydro, and battery storage systems, with a target capacity of up to 2000 MW across India. PTC India will hold a 26% stake in the JV. The agreement was signed on December 12, 2025, underscoring PTC India's commitment to expanding its footprint in the renewable energy sector.

Management has expressed optimism regarding future growth, driven by increasing demand for new energy products and services. They highlighted the strong correlation between power demand and GDP growth and anticipated benefits from market-oriented initiatives.

On the regulatory front, PTC India has filed a certificate from its Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, confirming compliance with Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. This is a routine compliance update.

NLC India Limited has submitted a routine compliance certification to the National Stock Exchange (NSE) and BSE Ltd., confirming adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended December 31, 2025. This filing, dated January 3, 2026, assures regulators and stakeholders that the company's Registrar and Share Transfer Agent (RTA) has duly processed all share dematerialization and rematerialization requests within the stipulated timelines, with certificates being cancelled and replaced by the depository's name as the registered owner.

This administrative update comes amidst a period of significant strategic activity for NLC India. Recent key developments from the company's disclosed information include the effective transfer of 7 renewable energy assets totaling 1,430 MW to its subsidiary, NLC India Renewables Limited (NIRL), on January 1, 2026, as part of its asset monetization strategy. Furthermore, the company has entered into a Mine Developer and Operator (MDO) agreement for the North Dhadu Western Part Coal Mine and commenced initial mining operations at the Pachwara South Coal Block, bolstering its fuel security and diversification into commercial coal mining. Operational milestones include the Commercial Operation Declaration (COD) for Unit-2 (660 MW) of the Ghatampur Thermal Power Project and the signing of a Power Purchase Agreement (PPA) with SJVN for a 200 MW wind project. The company also secured a Letter of Acceptance from NCRTC for a 110 MW solar PV power project and formed a Green Energy Joint Venture with PTC India Limited. Credit ratings have remained strong, with CRISIL reaffirming its highest rating of CRISIL AAA/Stable in September 2025. However, the company continues to face challenges such as land availability issues and regulatory matters, which have been flagged by auditors.

NLC India Limited has formally completed the transfer of its 7 Renewable Energy (RE) Assets to its wholly-owned subsidiary, NLC India Renewables Limited (NIRL). This significant corporate action became effective on January 1, 2026, as stipulated in the Business Transfer Agreement (BTA) executed between NLC India Limited and NIRL on October 31, 2025. This move is a strategic component of NLC India's approved Asset Monetization Plan, sanctioned by the Ministry of Coal.

The divested RE assets comprise a total capacity of 1,430 MW. These assets contributed ₹701.61 Crore to NLC India's consolidated revenue in FY25, representing 4.59% of the total. Their net worth was ₹3,869.26 Crore, accounting for 20.67% of NLC India's FY25 net worth. The transaction, characterized as a related-party transaction conducted at arm's length, was expected to be finalized by December 31, 2025, with NIRL assuming consideration through equity shares or debt acknowledgement. Necessary approvals from the Audit Committee, Board of Directors, and the Government of India have been secured for this restructuring.

This strategic divestment is expected to streamline NLC India's operational structure and allow for a more focused approach to the growth and management of its renewable energy portfolio under NIRL. It aligns with the company's broader ambition to expand its renewable energy footprint significantly by 2030 and explore new energy avenues.

NLC India Limited has executed a significant Coal Mining Agreement (CMA) with M/s. GRN North Dhadu Coal Mine Private Limited on December 30, 2025, for the operation and development of the North Dhadu Western Part Coal Mine under the Mine Developer and Operator (MDO) mode. This landmark agreement signifies NLCIL's entry into its first commercial coal mine secured through an auction process conducted by the Ministry of Coal (MoC).

The North Dhadu Western Part Coal Mine is estimated to hold over 110 Million Tonnes of extractable coal reserves, with a rated capacity of 3 Million Tonnes per Annum (MTPA). The average coal grade is identified as G12. The company had previously received approval for the Mining Plan and Mine Closure Plan from the MoC on November 20, 2025.

This strategic development marks a diversification for NLC India, moving beyond its traditional captive mining operations into commercial coal mining. This expansion is expected to bolster fuel security for its power generation facilities and potentially unlock new revenue streams. However, the project is contingent on obtaining further statutory approvals, including Environmental Clearance (EC) and Forest Clearance (FC), which are currently in progress. The G12 coal grade may also present specific operational considerations.

While this announcement does not provide immediate financial figures, the operationalization of this mine is anticipated to contribute positively to NLC India's overall financial performance and strategic objectives within the energy sector.

PTC India Limited has officially informed the stock exchanges (BSE and NSE) about the closure of its trading window for dealing in the company's securities. Effective January 1, 2026, the window will remain closed for all Insiders/Designated Persons and their immediate relatives until 48 hours after the declaration of the unaudited financial results for the quarter and nine months ending December 31, 2025. This measure is being implemented in compliance with the company's Code of Practices & Procedures for fair disclosure of Unpublished Price Sensitive Information and SEBI (Prohibition of Insider Trading) Regulations, 2015, to prevent insider trading. The specific date for the Board Meeting to consider these financial results will be intimated in due course.

This announcement follows a period of significant corporate and strategic developments for PTC India. The company recently reported strong Q2 FY26 financial results, showcasing a 36.41% year-on-year increase in consolidated PAT to ₹222.05 crore and a 15% YoY rise in standalone PAT. Furthermore, PTC India has advanced its strategic growth initiatives by forming a Joint Venture with NLC India Renewables Limited, aiming to develop up to 2000 MW of green energy projects. These developments underscore the company's ongoing efforts to expand its renewable energy portfolio and operational footprint.

This daily morning note from Axis Intellect provides a market overview, corporate news, and investment recommendations. Indian indices are expected to open positively, mirroring gains in Asian markets driven by upbeat US growth data and firm commodity prices. US markets closed higher, supported by strong economic momentum. Key corporate news includes Vikran Engineering securing a substantial Rs 2,035 Cr order from Onix Renewables for EPC works on solar plant development, and GAIL signing an MoU with the Chhattisgarh government for a gas-based fertilizer project, focusing on techno-economic studies for a urea plant.

Other significant company-specific events mentioned are Reliance Communications, whose arm Reliance Telecom had loan accounts declared 'fraud' by the Central Bank of India; Spandana Sphoorty Financial and Thirumalai Chemicals, which approved fund-raising via NCDs and share allotments respectively; Bank of India, issuing long-term bonds to raise Rs 10,000 Cr; Arisinfra Solutions receiving an asphalt order worth Rs 35 Cr; Supreme Petrochem clarifying a temporary shutdown of its mABS plant rather than the entire facility; Laurus Labs investing Rs 49 Cr in a JV; Bliss GVS Pharma appointing a new MD; Finolex Cables facing a Rs 22 Cr tax demand; and Coal India's board approving the in-principle listing of its arm, South Eastern Coalfields.

The report also highlights trading insights showing high volumes and delivery volumes for specific stocks like Coal India, Larsen & Toubro, Hindalco, and Infosys. Furthermore, it presents a comprehensive list of 'Buy' recommendations across numerous stocks with their current market prices, target prices, and calculated upside potential, suggesting a generally constructive outlook for these selected counters from the firm's perspective. No specific quarterly/annual results, management guidance, or detailed financial deep dives for individual companies were provided in this note.

The market opened on a positive note, with Asian indices trading higher on global cues and US markets closing positively, primarily driven by technology and AI stocks. GIFT Nifty further indicated a strong opening for Indian indices. Sector-wise, IT, Capital Goods, and Banking sectors showed positive movement. In company-specific news, Cipla launched an orally inhaled insulin powder for diabetes patients in India. Saatvik Green's subsidiary secured a Rs 486 Cr EPC order for solar PV modules, and Sanghvi Movers' arm received a Rs 429 Cr order from independent power producers. Antony Waste's subsidiary was awarded a Rs 329 Cr contract for a mixed solid waste processing plant. Lloyds Enterprises announced plans to demerge its business into Lloyds Realty, projected to have a Rs 7000 Cr revenue potential. Ambuja Cements and ACC's boards approved the amalgamation of ACC and Orient Cement, aimed at cost optimization. HCL Software is set to acquire AI startup Wobby for €4.5 Mn. Prestige Estates acquired a significant 25-acre land parcel in Chennai with an estimated revenue potential of Rs 5,000 Cr. VIP Industries appointed a new Chief Marketing Officer, and Groww launched a new trading portal. HFCL opened its QIP process. The Great Eastern Shipping's arm is undergoing voluntary liquidation. Supreme Petrochem temporarily halted operations at its Maharashtra plant due to equipment failure, while Welspun Corp increased its stake in its subsidiary. The report also details numerous 'BUY' recommendations across various stocks, along with insights into trading volumes and delivery trends for prominent companies.

NLC India Limited has informed stock exchanges about the closure of its trading window for designated persons. This window will commence from December 31, 2025, and will remain closed until 48 hours after the official declaration of the company's unaudited financial results for the quarter ending December 31, 2025 (Q3 FY26). The date for the Board Meeting to approve these financial results will be intimated in due course.

This announcement comes after a period of varied financial performance. In Q1 FY26 (April-June 2025), NLC India reported a significant YoY increase in consolidated Profit After Tax (PAT) of 48.09% to ₹839.21 Crore, supported by a 13.24% YoY revenue growth. However, standalone operations experienced a PAT drop. For Q2 FY26 (July-September 2025), the company saw a divergence: standalone PAT surged 43.04% YoY to ₹485.49 Cr, while consolidated PAT declined 26.22% YoY to ₹724.80 Cr. Despite these mixed results, NLC India achieved its highest-ever revenue from operations for H1 FY26, reaching ₹8,004.02 Cr with a 13.77% YoY growth.

The company is actively pursuing an aggressive growth strategy, aiming for substantial expansion in renewable energy capacity (10,110 MW) and coal production (74 MTPA by 2030), alongside strategic ventures into green hydrogen and critical minerals. Recent operational milestones include the commissioning of solar power projects and the Commercial Operation Declaration (COD) for Unit-2 of the Ghatampur Thermal Power Project. Strategic initiatives such as investments in its renewable subsidiary NIRL, the hiving off of renewable assets, and joint ventures with entities like PTC India and SJVN are in progress. The company has also secured new project awards and Letters of Intent/Acceptance, including an 110 MW solar project from NCRTC and mineral blocks in Chhattisgarh.

However, NLC India faces certain challenges. It has received regulatory penalties from NSE and BSE concerning its Board of Directors' composition. Furthermore, auditors have flagged land availability as a material uncertainty related to the going concern. On a positive note, the company's financial stability is underscored by CRISIL reaffirming its highest credit rating of CRISIL AAA/Stable.

NLC India Limited, through its joint venture company Neyveli Uttar Pradesh Power Limited (NUPPL), announced on December 19, 2025, the commencement of initial mining operations at the Pachwara South Open Cast Project in Jharkhand. This project is designed to meet the fuel requirements of the 3 x 660 MW Ghatampur Thermal Power Plant. The Pachwara South Coal Block, allotted in 2016, is a previously unexplored asset that NUPPL has explored through detailed drilling, revealing extractable coal reserves of 264.84 million tonnes. The mine has a normative capacity of 9 million tonnes per annum. This operational milestone is critical for ensuring a steady fuel supply to the Ghatampur Thermal Power Plant, thereby supporting its operational efficiency, power generation capabilities, and ultimately, its contribution to NLC India's revenue streams and the nation's energy security.

The daily morning note from Axis Securities provides a market update and highlights several key developments across Indian companies.

Market sentiment appears cautiously optimistic, with Asian markets trading higher and Indian indices expected to open positively, supported by GIFT Nifty. US markets ended mixed due to economic data concerns.

Several companies announced significant order wins and business developments. NBCC received orders totaling Rs 345 Cr, including a Rs 333 Cr contract from IIT Mandi for academic blocks and a Rs 12 Cr annual maintenance contract. Ahluwalia Contracts secured an Rs 888 Cr order from Bihar State Tourism Development Corp for EPC works, along with another order for construction at Sitamarhi District. Diamond Power Infra received a Letter of Intent for a Rs 57.6 Cr order from Rajesh Power for cable supply.

In terms of capacity expansion and strategic initiatives, Vikram Solar's arm approved a substantial Rs 4,371 Cr capex for its battery energy storage system roadmap. Waaree Renewable Tech signed a long-term power purchase agreement for a 300 MW solar project. Acme Solar commissioned an additional 8 MW capacity, and NTPC Green Energy started commercial operations of 243.7 MW.

Partnerships and acquisitions are also noted: Saregama India plans to acquire a 51% stake in Bhansali Productions. Glenmark Pharma's arm signed a pact with Hansoh Pharma to develop and commercialise Aumolertinib. HCLTech partnered with NSE Academy for joint certificate programs. Protean eGov Tech approved the acquisition of a 4.95% stake in NSDL Payments Bank for Rs 30.2 Cr. Kaynes Tech is partnering with Mitsui & Co. and AOI Electronics to bolster semiconductor manufacturing.

On the regulatory front, Lupin's Nagpur Injectable unit received a Voluntary Action Indicated (VAI) classification from the US FDA following an inspection.

The report also features a comprehensive list of 'BUY' recommendations across various stocks with significant potential upside targets, providing investors with potential stock picks. Insights into FII/DII trading activities and forex rates are also included.

NLC India Limited, through its wholly-owned subsidiary NLC India Renewables Limited (NIRL), has entered into a significant long-term Power Purchase Agreement (PPA) with SJVN Limited. This agreement is for a 200 MW Wind Power Project.

The PPA signing is part of SJVN's larger initiative, which awarded 600 MW of ISTS-connected Wind Power Projects (Wind-2 Tranche) through tariff-based competitive bidding. The 200 MW project by NIRL is expected to contribute substantially to the renewable energy sector, with an estimated annual generation of approximately 500 Million Units of green energy.

This development underscores a strong collaborative effort between two prominent Central Public Sector Enterprises (CPSEs), NLC India and SJVN. The partnership aims to accelerate the deployment of renewable energy sources across India and bolster the nation's long-term energy security. For NLC India, this PPA aligns with its strategic vision and aggressive expansion plans in the renewable energy domain, complementing its existing thermal power and lignite mining operations. While specific financial projections from this PPA are not detailed in the announcement, it represents a secured revenue stream for the future and contributes to the company's growing clean energy portfolio.

The Indian equity market experienced a recovery towards the week's end, with the Nifty surpassing the 26,000 mark, influenced by US Federal Reserve rate cut expectations, and midcap and smallcap segments outperforming the benchmarks. Key corporate developments include Wipro's strategic AI partnerships with Microsoft and Google, aimed at enterprise adoption. Bharat Electronics received additional orders worth Rs 776 cr, and KEC International secured new orders totaling Rs 1,150 cr in its Transmission & Distribution and Civil businesses. Godawari Power announced a significant Rs 1,625 cr investment in its arm's battery energy storage manufacturing unit for capacity expansion. In contrast, Aurobindo Pharma and Dr Reddy's Laboratories received USFDA Form 483 observations for their respective API and formulations facilities, posing short-term concerns. Other notable news includes SAIL's 69% YoY retail sales growth, Biocon's arm entering a pact for biosimilar Aflibercept, and Paytm's Rs 2,250 cr investment in its payments services arm. Ashoka Buildcon's JV secured a Rs 1,041.4 cr project, Consolidated Construction received orders worth Rs 458 cr, NLC India got an LoA for 110 MW solar projects, and WPIL's subsidiary secured a Rs 1,340 cr wastewater treatment order. IPO subscription updates for ICICI Prudential AMC, Corona Remedies, and Wakefit Innovations were also detailed, alongside fund flow data showing FII outflows and DII inflows on December 12th, and significant bulk/block deals in Usha Martin, Kaynes Technology, and Fabtech Technologies.

The recent news highlights NLC India Limited receiving a Letter of Acceptance (LoA) from the National Capital Region Transport Corporation Limited (NCRTC) for setting up a 110 MW (AC) Grid Connected Solar PV Power Project in Uttar Pradesh. This project will be under a Captive Mode, and the PPA is for a period of 25 years. This is a significant step towards expanding NLC India's renewable energy portfolio and contributes to its stated goals of increasing generation capacity. The project is slated for execution within 24 months from the Effective Date of the PPA.

Recent financial performance, as per Q2 FY26 results, shows a mixed picture. Standalone operations reported a robust 43.04% YoY increase in Profit After Tax (PAT) to ₹485.49 Cr, supported by a 19.89% YoY rise in standalone revenue to ₹2,564.91 Cr. However, consolidated PAT saw a decline of 26.22% YoY to ₹724.80 Cr, despite a 14.25% YoY increase in consolidated revenue to ₹4,178.41 Cr. This divergence suggests pressures or specific factors impacting consolidated performance.

The company continues its strategic growth initiatives. It approved an in-principle investment of up to ₹666 Cr in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), for green energy projects. Furthermore, it secured a ₹1,200 Cr term loan from Punjab National Bank for refinancing. The company is also actively pursuing ventures into critical minerals and expanding its renewable capacity, with ambitious Vision 2030 targets. However, a key red flag noted by auditors in the Q2 FY26 results is a material uncertainty related to going concern due to land availability. The company also faced regulatory penalties for non-compliance with board composition norms.

PTC India Limited has entered into a significant Joint Venture (JV) agreement with NLC India Renewables Limited (NIRL), a subsidiary of NLC India Limited, on December 12, 2025. The JV aims to jointly explore and develop green energy projects, including solar, wind, hydro, and battery storage systems, targeting a capacity of up to 2000 MW across India. NLC India Renewables will hold a 74% stake, while PTC India will hold 26%, with mutual rights to appoint nominee directors on the JV's board.

This strategic move into renewable energy development was announced alongside PTC India's robust financial results for Q2 FY26 (ended September 30, 2025). Consolidated PAT increased by 36.41% year-on-year to ₹222.05 crore, on a consolidated revenue that grew 11.76% YoY to ₹5,458.73 crore. Standalone PAT also saw a healthy growth of 14.87% YoY. Management expressed optimism regarding new energy products and market initiatives.

Corporate governance updates include the appointment of Sh. Masood Akhtar Ansari as a Non-Executive Nominee Director representing NTPC Limited, effective December 1, 2025. The company also confirmed that a past penalty from BSE and NSE for a temporary director vacancy has been paid and compliance restored. Shareholder approval is being sought for several board appointments and re-appointments via postal ballot.

News Crux

NLC India Limited, through its wholly-owned subsidiary NLC India Renewables Limited (NIRL), has signed a Joint Venture Agreement (JVA) with PTC India Limited on December 12, 2025. This strategic partnership aims to establish a green energy joint venture focused on developing up to 2000 MW of renewable energy capacity.

Quarterly/Annual Results

NLC India reported strong Q1 FY25-26 results with consolidated revenue of ₹3,825.61 Cr (+13.25% YoY) and consolidated PAT of ₹839.21 Cr (+48.09% YoY). More recently, Q2 FY26 (ended September 30, 2025) standalone performance showed a 43.04% YoY increase in PAT to ₹485.49 Cr on revenue up 19.90% YoY to ₹2,564.91 Cr. Consolidated PAT for Q2 FY26 declined 26.22% YoY to ₹724.80 Cr, while consolidated revenue grew 14.25% YoY to ₹4,178.41 Cr.

Guidance & Concall commentary

The JVA signifies a clear intent for aggressive expansion in the renewable energy sector. The joint venture is set to develop renewable energy capacity up to 2000 MW in phases, with the initial phase targeting around 500 MW. The collaboration will encompass project development, operation, maintenance, and power sales through competitive and regulated routes under Section 62 or Section 63 of the Electricity Act.

Financials

As per the latest available data (Sep 2025), NLC India's approximate net debt stands at ₹7,808 Cr (Borrowings ₹8,528 Cr vs. Cash ₹720 Cr), with a Debt-to-Equity ratio of approximately 0.47. The company's capital expenditure for the year ending March 2025 was ₹4,006 Cr, reflecting ongoing investments in capacity.

Key events

The pivotal event is the signing of the JVA on December 12, 2025, between NIRL and PTC India, formalizing their collaboration initiated by an MoU on September 8, 2025. The JV will focus on various green technologies including solar, wind, hydro, Battery Energy Storage Systems (BESS), and green ammonia.

Outlook

This joint venture is a significant step in NLC India's strategic vision to expand its renewable energy footprint, aligning with national energy transition goals and capitalizing on the growth potential in green technologies. The partnership with PTC India is expected to enhance market access and operational efficiency in power trading.

Neyveli Uttar Pradesh Power Limited (NUPPL), a joint venture where NLC India holds a 51% stake, has declared the Commercial Operation Declaration (COD) for Unit-2 (660 MW) of its 1,980 MW Ghatampur Thermal Power Project, effective December 09, 2025.

This announcement focuses on an operational milestone rather than specific quarterly or annual financial results. However, it notes the project's expected annual revenue of approximately ₹8,453.3 Cr upon full commissioning, with Unit-1 having generated ₹2,638.69 Cr in revenue to date.

No specific financial guidance or commentary from a conference call is provided in this news release.

The news highlights the projected revenue increase from the Ghatampur project once fully operational. Detailed financials, balance sheet items, cash flow, or ratios are not included in this press release.

The primary event is the declaration of Commercial Operation for Unit-2 (660 MW) of the Ghatampur Thermal Power Project, marking a significant expansion of NLC India's power generation capacity. Progress on the captive coal mine (PSOCP) is also noted.

The successful commissioning of Unit-2 enhances NLC India's operational capacity and future revenue potential. With the project on track for full commissioning in FY 2025-26, the company is well-positioned to reinforce its role in national energy security and regional economic development.

NLC India Limited's joint venture, Neyveli Uttar Pradesh Power Limited (NUPPL), has announced a significant operational milestone with the Commercial Operation Declaration (COD) for Unit-2 (660 MW) of the Ghatampur Thermal Power Project. This declaration, effective from December 9, 2025, brings the total operational capacity from the Ghatampur project to 1,320 MW, as Unit-1 was previously commissioned. The project, with a total planned capacity of 1,980 MW, is on schedule to complete its third and final unit within FY 2025-26. This expansion is expected to significantly enhance reliable and sustainable power supply to the states of Uttar Pradesh and Assam.

This development contributes to NLC India's diversified energy portfolio, which includes thermal power, lignite mining, and a growing renewable energy segment. Recent updates indicate strategic moves such as the hiving off of 1,430 MW of renewable energy assets to its subsidiary NIRL and securing strategic mineral blocks. The company's financial performance has shown resilience, with Q2 FY26 reporting a strong standalone PAT growth of 43% YoY, though consolidated PAT saw a decline. Despite challenges such as land availability issues flagged as a going concern uncertainty, NLC India maintains strong credit ratings, with CRISIL reaffirming its AAA/Stable rating. The company continues to expand its capacity and explore new growth avenues in critical minerals and green energy, underpinning its long-term strategic direction.

NLC India Limited has disclosed a period of extensive corporate activity, including senior management appointments, mixed financial performance for Q2 FY26, significant strategic expansions in renewable energy and critical minerals, operational achievements, and corporate governance updates.

Quarterly/Annual Results:
Q1 FY25-26 results showed consolidated revenue reaching ₹3,825.61 Cr (+13.24% YoY), with consolidated PAT surging 48.09% YoY to ₹839.21 Cr. However, standalone PAT saw a 25.8% YoY decrease to ₹368.17 Cr.

For Q2 FY26, standalone revenue grew 19.9% YoY to ₹2,564.91 Cr, and standalone PAT increased by 43.04% YoY to ₹485.49 Cr. Conversely, consolidated revenue increased 14.25% YoY to ₹4,178.41 Cr, but consolidated PAT declined 26.22% YoY to ₹724.80 Cr.

H1 FY26 reported revenue at ₹8,004.02 Cr (+13.77% YoY) with PAT at ₹1,564.01 Cr (+0.96% YoY). The EBITDA margin saw a decline during this period.

FY25 highlights, as presented at the AGM, included record lignite/coal production (41.26 MT), consolidated PAT of ₹2,713.61 Cr (+45.30% YoY), and CAPEX of ₹7,736 Cr (+254% vs target).

Guidance & Concall Commentary:
The company held conference calls for Q1 FY25-26 on August 13, 2025, and for Q2 FY26 on October 29, 2025, with transcripts and recordings made available. At the 69th AGM on September 27, 2025, management detailed aggressive expansion plans, targeting 10,110 MW of renewables and 74 MTPA coal capacity by 2030, with new ventures in green hydrogen and critical minerals.

Financials:
As of March 2025, the balance sheet showed total liabilities of ₹36,325 Cr, with Borrowings at ₹7,561 Cr. The Debt-to-Equity ratio was 0.47. Capex for Q1 FY25-26 was ₹1,925.62 Cr, and total FY25 Capex was ₹7,736 Cr. As of March 2025, ROE was 5.61% and ROCE was 9.02%. The Interest Coverage Ratio declined to 4.79 from 7.62 YoY (as per Q1 FY25 disclosure).

Key Events:
Operational milestones included the commissioning of Ghatampur Unit 1 (660 MW), commencement of commercial operations for phases of the Barsingsar Solar Project, and Ghatampur Unit 2 achieving oil synchronization. Strategic initiatives saw the company secure a 450 MW Wind-Solar Hybrid project and a 250MW/500 MWhr BESS project. A Memorandum of Understanding (MoU) was signed with Khanij Bidesh India Limited (KABIL) for critical minerals. A Letter of Intent (LOI) was received for two mineral blocks in Chhattisgarh. The company executed a Business Transfer Agreement to hive off 1,430 MW of renewable energy assets to its subsidiary, NIRL.

In corporate governance, the 69th AGM was held virtually, approving the final dividend for FY24-25 (total 30%) and appointing new directors. The company received IPMA Delta Certification – Level 3. CRISIL Ratings reaffirmed its highest credit rating of CRISIL AAA/Stable.

Regulatory actions included fines of ₹5,36,900 each from NSE and BSE for non-compliance with board composition regulations, for which a waiver was requested. Auditors noted land availability as a material uncertainty related to going concern.

Management Changes:
Several senior management personnel were promoted to Executive Director roles on December 6, 2025. Shri Ashok Dattatraya Keote ceased as Executive Director upon superannuation on November 29, 2025. Shri Rajesh Pratap Singh Sisodia was appointed as Director (Planning & Projects) effective December 2, 2025. The company also reported the sad demise of Government Nominee Director Dr. Beela Venkatesan on September 24, 2025.

Outlook:
The company is aggressively expanding its renewable energy capacity and focusing on strategic acquisitions in critical minerals, alongside ventures into green hydrogen and battery storage. However, land availability remains a noted concern for ongoing operations.

NLC India Limited announced the assumption of charge by Shri Rajesh Pratap Singh Sisodia as its new Director (Planning & Projects) on December 2, 2025, at Neyveli. He was welcomed by the CMD and Functional Directors.

Shri Sisodia is a Mechanical Engineering graduate from Regional Engineering College, Kurukshetra, and brings over 35 years of rich experience across various core engineering sectors, gained during his tenure at Bharat Heavy Electricals Limited (BHEL). His career at BHEL, which began in 1990 as an Engineer Trainee, spanned manufacturing units, construction sites, project management, and business divisions in Power and Industry sectors.

He possesses extensive experience in design and engineering, site construction, and project management of large EPC projects. His expertise also extends to marketing, contract management, and emerging areas like New and Renewable Energy and Coal gasification. He has experience in international project sites for erection and commissioning of large gas turbines and was instrumental in introducing advanced technologies in gas turbine, supercritical boiler and turbine sets, and power plant equipment, focusing on environmental mitigation. He also served as a nominee director in BHEL's joint ventures.

NLCIL CMD, Shri Prasanna Kumar Motupalli, stated that with Shri Sisodia's experience, broad vision, and strategic acumen, his tenure as Director (Planning & Projects) will be proactive in creating and managing new projects for NLCIL, with a focus on developing long-term strategic plans, managing project portfolios, and securing resources in line with the company's vision. NLCIL looks forward to his leadership in steering the company's strategy towards greater innovation and growth.

NLC India Limited has announced a special window for shareholders from July 7, 2025, to January 6, 2026. This period is exclusively for re-lodging transfer requests for physical shares that were initially rejected or returned before April 1, 2019, due to documentation deficiencies. All such re-lodged shares will be issued in dematerialized form, requiring investors to provide their demat account details. Shareholders are advised to submit complete applications and required documents to the Registrar and Share Transfer Agent (RTA) within the specified window.

NLC India Limited announced its financial results for the second quarter and half-year ended September 30, 2025. The company reported a significant divergence in performance: standalone Profit After Tax (PAT) surged by 43.04% year-on-year to ₹485.49 Cr, and standalone revenue rose 19.89% YoY to ₹2,564.91 Cr. Conversely, consolidated PAT experienced a decline of 26.22% YoY to ₹724.80 Cr, although consolidated revenue grew by 14.25% YoY to ₹4,178.41 Cr.

For the first half of FY26 (H1 FY26), NLC India achieved its highest-ever revenue from operations, reaching ₹8,004.02 Cr, marking a 13.77% year-on-year growth. PAT for H1 FY26 stood at ₹1,564.01 Cr, a marginal increase of 0.96% YoY, while EBITDA was ₹3,190.17 Cr, up 0.61% YoY, though EBITDA margins saw a decline.

Strategically, the company's Board approved an in-principle investment of up to ₹666 Cr in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), to fund green energy projects. Additionally, a ₹1,200 Cr term loan from Punjab National Bank was sanctioned for refinancing the debt of the 1000 MW Neyveli New Thermal Power Station.

Key operational developments include the commissioning of the first phase of its 300 MW Solar Power Project in Barsingsar, Rajasthan (52.83 MW on August 26, 2025, and an additional 106 MW phase on November 2, 2025), bringing the total operational capacity for this project to 158.83 MW. The company also signed a Memorandum of Understanding (MoU) with Khanij Bidesh India Limited (KABIL) on September 10, 2025, focusing on the global identification, acquisition, and development of critical mineral projects. Furthermore, a Business Transfer Agreement was executed on October 31, 2025, with NIRL to hive off 7 Renewable Energy Assets totalling 1,430 MW, as part of its asset monetization plan. NLC India also received a Letter of Intent (LoI) from the Government of Chhattisgarh for two critical mineral blocks.

In terms of governance and compliance, NLC India received fines from NSE and BSE for non-compliance with SEBI LODR regulations concerning its Board composition, specifically the absence of a Women Director, and has requested a waiver. An auditor's note highlighted land availability as a material uncertainty related to going concern for the Q2 FY26 results. CRISIL Ratings reaffirmed the company's highest credit rating of CRISIL AAA/Stable. The company also announced its 69th Annual General Meeting (AGM) scheduled for September 27, 2025, where shareholders approved the adoption of FY25 financial statements and declared a total dividend of 30% for FY24-25.

NLC India Limited has announced the appointment of Shri Rajesh Pratap Singh Sisodia as Director (Planning & Projects), effective December 2, 2025. The appointment, approved by the President of India via the Ministry of Coal, Government of India, will be in effect until his superannuation on May 31, 2028, or until further orders. Shri Sisodia brings over 35 years of experience from Bharat Heavy Electricals Ltd. (BHEL), where he held significant roles including Executive Director. His experience spans design, engineering, project management of large EPC projects, marketing, contract management, and exposure to new and renewable energy and coal gasification divisions. He is affirmed to not be debarred from holding a director's office by any regulatory authority. This strategic appointment is expected to bolster the company's capabilities in planning and executing its ambitious project pipeline.

NLC India Limited has officially informed the stock exchanges, NSE and BSE, regarding the cessation of Shri Ashok Dattatraya Keote as an Executive Director (Senior Management Personnel). This change is effective from the afternoon of November 29, 2025, as the executive attained the age of superannuation. The company has provided the necessary disclosures as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and relevant circulars. This cessation is attributed to standard retirement procedures and does not carry any immediate financial implications for the company, as per the notification.

NLC India Limited has received notices and imposed fines from the National Stock Exchange (NSE) and BSE Limited (BSE) on November 28, 2025. The penalties, amounting to Rs. 5,42,800 (including GST) each, stem from non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015. This specific violation pertains to the composition of the company's Board of Directors, including the failure to appoint a Women Director. NLC India has formally requested a waiver of these fines from both exchanges. The company's grounds for waiver include its status as a Government Company, where director appointments are vested with the President of India, and the fact that the Ministry of Coal is kept informed of the need for board compliance. NLC India stated that these penalties have no impact on its operations, and the total financial implication is limited to the aggregate fines.

NLC India Limited has formally announced an upcoming Institutional Investors Meet, scheduled to take place on Tuesday, November 25, 2025, commencing at 16:00 hours. The event, organized by ICICI Securities Ltd., will be held physically, requiring prior registration for participation. A key highlight of this announcement is the explicit commitment from NLC India that no Unpublished Price Sensitive Information (UPSI) will be shared during the meeting. Instead, discussions will be limited to general information that is already available in the public domain. This approach ensures compliance with SEBI regulations while providing a platform for investors to engage with the company and gather insights into its operations and strategic direction. The company has also provided contact details for Mr. Jaideep Goswami, Mr. Mohit Kumar, and Mr. Abhinav Nalawade from ICICI Securities for registration purposes. The schedule is subject to change due to exigencies.

NLC India Limited, a 'Navratna' Government of India Enterprise, has officially announced the commencement of commercial operations for the second phase of its significant '300 MW Solar Power Project'. This latest milestone, achieved on November 2, 2025, involves a capacity of 106 MW and is situated at Barsingsar in the Bikaner district of Rajasthan. The company received the official commissioning certificate from the Rajasthan Renewable Energy Corporation Limited on the same date. This development follows the earlier intimation on August 26, 2025, when the first part of the project, with a capacity of 52.83 MW, was declared commercially operational. With this recent commissioning, the total operational capacity from the 300 MW project now stands at 158.83 MW. This progressive commissioning of solar capacity is crucial for NLC India Limited's strategy to diversify its energy portfolio and increase its footprint in renewable energy generation. Such expansions are key drivers for future revenue growth and align with national objectives for sustainable energy development. While this announcement does not include financial results or specific guidance updates, it signifies tangible progress in the company's project execution capabilities and its contribution to the renewable energy sector in India.

NLC India Limited announced on October 31, 2025, that it has entered into a Business Transfer Agreement (BTA) with its wholly-owned subsidiary, NLC India Renewables Limited (NIRL). This agreement formalizes the hiving off of 7 Renewable Energy Assets (RE Assets) totaling 1,430 MW capacity from NLC India Limited to NIRL. This initiative is a key component of the company's Asset Monetization Plan, which has received approval from the Ministry of Coal.

Financial Impact of Transferred Assets:
For the financial year ending March 31, 2025:

• The 7 RE assets generated a revenue of ₹701.61 Crore, accounting for 4.59% of NLC India Limited's consolidated revenue of ₹15,282.96 Crore.
• The net worth of these assets stood at ₹3,869.26 Crore, representing 20.67% of NLC India Limited's total equity attributable to owners (net worth of ₹18,722.97 Crore).

Transaction Details:

• Agreement Date: October 31, 2025.
• Expected Completion Date: December 31, 2025.
• Buyer: NLC India Renewables Limited (NIRL), a 100% subsidiary.
• Consideration: To be paid by NIRL through the issuance of equity shares or acknowledgement of debt, subject to adjustments based on revised opening balance sheets of the RE assets at the time of transfer.
• Related Party Transaction: The transaction is classified as a related party transaction but is conducted on an "arm's length" basis, using the book value of the RE assets as per audited financial statements of March 31, 2025.

Approvals and Compliance:
The transaction has received the necessary approvals from NLC India Limited's Audit Committee and Board of Directors. Furthermore, approval has been secured from the Government of India. The company has also confirmed that this asset transfer does not involve amalgamation or merger, thus exempting it from compliance with Regulation 37A of SEBI (LODR) Regulations, 2015, as it is a transaction between the company and its wholly-owned subsidiary. This hiving-off is treated akin to a slump sale for disclosure purposes.

This strategic move is expected to streamline operations and unlock value from the renewable energy portfolio.

NLC India Limited, a 'Navratna' Government of India Enterprise, has formally notified the National Stock Exchange and BSE about the newspaper publication of its un-audited financial results for the quarter and half-year concluded on September 30, 2025. This action adheres to Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided copies of the advertisements published in Business Standard and Dinamani newspapers. The report includes detailed financial metrics such as total income, net profit/loss, comprehensive income, equity capital, net worth, debt ratios, and earnings per share.

NLC India Limited (NLCIL) has reported its financial and operational results for the Half Year ended September 2025 (H1 FY26), achieving its highest-ever revenue from operations for this period. The company registered revenue of Rs 8,004.02 crore, marking a significant 13.77% year-on-year growth from Rs 7,035.50 crore in H1 FY25. Profit After Tax (PAT) saw a modest increase of 0.96%, reaching Rs 1,564.01 crore compared to Rs 1,549.10 crore in the previous year. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) grew by 0.61% to Rs 3,190.17 crore from Rs 3,170.83 crore, however, the EBITDA margin compressed to approximately 39.86% from 45.07% YoY. The company's net-worth strengthened by 12.35% to Rs 19,965.62 crore as of September 30, 2025.

Operationally, NLCIL achieved coal production of 74.87 lakh tonnes, a 25.60% increase from 59.61 lakh tonnes in H1 FY25. Gross power generation stood at 13,375.87 Million Units (MU), including 1,126.53 MU from renewable energy sources.

Several key strategic developments and project milestones were highlighted. The Hon'ble Prime Minister of India laid the foundation stone for NLCIL's 600 MW solar project at Khavda and a 50 MW wind project at Dayapar, both in Gujarat. The first phase (52.83 MW) of the 300 MW Solar Power Project at Barsingsar, Rajasthan, was successfully commissioned, increasing NLCIL Group's total power generation capacity to 6,783.89 MW, with renewable energy contributing 1,483.89 MW. Furthermore, the company achieved oil synchronization for Unit-2 (660 MW) of the Ghatampur Thermal Power Project in Uttar Pradesh.

NLCIL also signed significant MoUs: one with Bhabha Atomic Research Centre (BARC) to establish a pilot project for extracting rare earth elements from fly ash, and another with Khanij Bidesh India Limited (KABIL) to collaborate on identifying, acquiring, and developing critical & strategic mineral projects globally. Its wholly-owned subsidiary, NIRL, signed an MoU with PTC India Limited for renewable energy project development.

In terms of regulatory and operational approvals, NUPPL's Pachwara South Coal Mines received the Consent to Operate (CTO) from the Jharkhand State Pollution Control Board, and Permission for opening of Mines was granted by the Coal Controller Organisation. NLCIL also became the first CPSE to receive the International Project Management Association (IPMA) Delta Certification - Level 3.

NLC India Limited announced its un-audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2025. The company reported a strong standalone performance with revenue from operations at ₹2,564.91 crore for Q2 FY26, a YoY increase of 19.9% from ₹2,139.22 crore in Q2 FY25. Standalone Profit After Tax (PAT) surged by 43.0% YoY to ₹485.49 crore from ₹339.39 crore. Standalone basic EPS (adjusted for regulatory deferral) stood at ₹3.50, up 42.9% YoY. However, consolidated PAT saw a decline of 26.2% YoY to ₹724.80 crore, with consolidated basic EPS (adjusted) falling to ₹5.23 from ₹7.08 YoY. Operating margins showed mixed trends: standalone operating margin decreased by 3.33 pp to 13.89%, while consolidated operating margin improved significantly by 7.25 pp to 23.86% due to better segment performance, though consolidated net profit margin declined. Key financial metrics from the standalone balance sheet show a Debt-to-Equity ratio of 0.47 as of September 30, 2025. Cash flow from operations for the half-year ended September 30, 2025, was ₹1,482.04 crore standalone and ₹3,204.87 crore consolidated, with capital expenditure at ₹1,987.49 crore standalone and ₹3,821.57 crore consolidated for the same period.

In terms of significant corporate actions, the Board granted in-principle approval to invest up to ₹666 crore in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), for funding green energy projects to be executed through Joint Venture Companies. Additionally, the company approved borrowing a Rupee Term Loan of ₹1,200 crore from Punjab National Bank for refinancing the existing loan for its 1000 MW Neyveli New Thermal Power Station (NNTPS). The company also announced the cessation of Shri Prashant Vinay Kaushik as Company Secretary and Compliance Officer and the appointment of Shri Sushanta Kumar Panda to these roles effective October 30, 2025.

Operational highlights include the commissioning of 52.83 MW of solar capacity at Barsingsar and 8.8 MW of solar power at Mined Out Area. NLC India also received a Letter of Intent (LoI) from the Government of Chhattisgarh for two mineral blocks. The company declared a final dividend of 15% for FY 2024-25. Notes to the financial results indicated ongoing regulatory matters concerning tariff adjustments, a new mineral-bearing land tax in Tamil Nadu, and challenges related to land availability for mining operations in Neyveli. The company is actively pursuing resolution for various tariff-related disputes, with significant amounts retained under regulatory deferral liabilities.

NLC India Limited announced its un-audited financial results for the quarter and half-year ended September 30, 2025.

Financial Performance:
Standalone Profit After Tax (PAT) for Q2 FY26 surged by 43.04% year-on-year to ₹485.49 Cr, compared to ₹339.39 Cr in Q2 FY25. Standalone revenue from operations increased by 19.89% YoY to ₹2,564.91 Cr.
On a consolidated basis, PAT saw a decline of 26.22% YoY, reaching ₹724.80 Cr (Q2 FY25: ₹982.41 Cr). Consolidated revenue from operations grew by 14.25% YoY to ₹4,178.41 Cr.
Standalone EPS (basic, after regulatory deferral) was ₹3.50 for the quarter, up from ₹2.45 YoY. Consolidated EPS (basic, after regulatory deferral) was ₹5.23, down from ₹7.08 YoY.

Key Approvals & Investments:
The Board of Directors approved an in-principle investment of up to ₹666 Crore in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), via subscription to equity shares at face value. This fund is designated for green energy projects to be executed through Joint Venture Companies. Furthermore, the company sanctioned a Rupee Term Loan of ₹1,200 Crore from Punjab National Bank for refinancing the existing debt of the 1000 MW Neyveli New Thermal Power Station (NNTPS).

Corporate Actions:
In personnel changes, Shri Prashant Vinay Kaushik ceased to be Company Secretary and Compliance Officer effective October 29, 2025. Shri Sushanta Kumar Panda has been appointed as the new Company Secretary and Compliance Officer, effective October 30, 2025.

Other Disclosures:
As of September 30, 2025, the standalone Debt-to-Equity ratio was 0.47, and the consolidated ratio was 1.22. The company's auditors noted a material uncertainty related to going concern due to land availability for lignite mining operations at Neyveli.

Dividends:
The company declared a final dividend of 15% for FY 2024-25 at its Annual General Meeting on September 29, 2025.

NLC India Limited announced its financial results for the quarter and half-year ended September 30, 2025. The company reported a consolidated revenue from operations of ₹4,178.41 Cr for Q2 FY25, an increase of 14.25% YoY, and ₹8,004.02 Cr for H1 FY25, up 13.77% YoY. On a standalone basis, revenue was ₹2,564.91 Cr in Q2 FY25 (+19.89% YoY) and ₹5,060.51 Cr in H1 FY25 (+5.69% YoY).

Profitability showed a mixed trend. Standalone Profit After Tax (PAT) for Q2 FY25 was ₹485.49 Cr, a significant jump of 43.04% YoY, and for H1 FY25 it stood at ₹853.66 Cr, up 2.18% YoY. Conversely, consolidated PAT for Q2 FY25 was ₹724.80 Cr, down 26.22% YoY, while H1 FY25 PAT was ₹1,564.01 Cr, a marginal increase of 0.96% YoY. Standalone EPS (after regulatory deferral) was ₹3.50 in Q2 FY25 (+42.86% YoY), and consolidated EPS was ₹5.23 (-26.13% YoY).

Key corporate actions approved by the board include an in-principle investment of up to ₹666 Crore in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), for funding green energy projects to be executed through Joint Venture Companies. Additionally, the company secured approval for a ₹1,200 Crore term loan from Punjab National Bank to refinance existing debt for the 1000 MW Neyveli New Thermal Power Station (NNTPS).

Financially, the consolidated Debt/Equity ratio stood at 1.22 as of September 30, 2025. Consolidated CapEx for H1 FY25 was substantial, with ₹3,937.87 Cr used in investing activities, primarily for purchase of property, plant, and equipment. Significant regulatory deferral account balances are present on the balance sheet due to ongoing tariff disputes and tax matters.

Operational risks include a deficit in land availability at Neyveli impacting lignite mining operations, leading to contingency mining and additional costs. Project updates include the commissioning of 52.83 MW solar capacity at Barsingsar and 8.8 MW at Neyveli. The company also received a Letter of Intent for two mineral blocks in Chhattisgarh.

A final dividend of 15% for FY24-25 was declared. The company also noted the cessation of its Company Secretary and appointed a new one.

NLC India Limited announced its un-audited financial results for the quarter and half-year ended September 30, 2025. On a standalone basis, the company reported a revenue from operations of ₹2,564.91 Cr for Q2 FY26, a year-on-year increase of 19.89%, and a profit before tax (PBT) of ₹681.77 Cr, up 35.66% YoY. The profit for the period stood at ₹485.49 Cr, a 43.04% YoY increase. Consolidated revenue for the quarter was ₹4,178.41 Cr, a 14.25% YoY growth, but consolidated PBT decreased by 18.71% YoY to ₹921.34 Cr, with consolidated profit for the period falling 26.22% YoY to ₹724.80 Cr.

Key corporate actions approved by the board include an in-principle approval to invest up to ₹666 Crore in one or more tranches in its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), for funding green energy projects to be executed through Joint Venture Companies. The company also approved borrowing a Rupee Term Loan of ₹1,200 Crore from Punjab National Bank for refinancing the existing term loan for the 1000 MW Neyveli New Thermal Power Station (NNTPS).

The financial results also highlight several ongoing regulatory matters, including appeals against TNERC and CERC orders on tariffs, a disputed interest claim from TNPDCL, and seeking regulatory approval to include the mineral-bearing land tax under energy charges. A significant regulatory deferral liability of ₹407.32 Crore is recognized concerning disputes under the 'Vivad Se Vishwas Scheme' (VSVS).

Operational risks were noted, particularly the deficit in land availability at Neyveli for lignite mining, which is impacting operations, though the company expressed confidence in overcoming these challenges. A 52.83 MW solar power project at Barsingsar was commissioned, and an 8.8 MW solar project was commissioned in a Mined Out Area. The company also received a Letter of Intent (LoI) for two mineral blocks in Chhattisgarh. A final dividend of 15% for FY2024-25 was declared.

Standalone operating margin for Q2 FY26 was 13.89%, and Net Profit Margin was 17.60%. Consolidated operating margin increased significantly to 23.86%, while Net Profit Margin decreased to 16.59% compared to the previous year.

NLC India Limited announced its financial results for the quarter and half-year ended September 30, 2025, along with several strategic decisions.

Financial Performance (Standalone):
For the second quarter of FY26, NLC India reported a strong standalone performance with Revenue from Operations increasing by 19.89% YoY to ₹2,564.91 Crore and Profit After Tax (PAT) surging by 43.06% YoY to ₹485.49 Crore. Earnings Per Share (EPS), after regulatory adjustments, rose to ₹3.50 from ₹2.45 in the prior year's quarter. The Net Profit Margin improved to 17.60% from 14.39% YoY, although the Operating Margin saw a slight decrease to 13.89% from 17.22% YoY.

Financial Performance (Consolidated):
On a consolidated basis, Revenue from Operations grew by 14.25% YoY to ₹4,178.41 Crore for Q2 FY26. However, PAT saw a significant decline of 26.22% YoY to ₹724.80 Crore, resulting in a consolidated EPS (after regulatory adjustments) of ₹5.23, down from ₹7.08 YoY. The Net Profit Margin contracted to 16.59% from 27.33% YoY, while the Operating Margin improved to 23.86% from 16.61% YoY.

Half-Yearly Performance:
For the first half of FY26, standalone PAT grew by 5.69% YoY to ₹853.66 Crore. Consolidated PAT remained largely flat, showing a marginal increase of 0.96% YoY to ₹1,564.01 Crore.

Key Strategic Decisions:
The Board of Directors approved an in-principle investment of up to ₹666 Crore in NLC India Renewables Limited (NIRL), a wholly-owned subsidiary, for funding green energy projects to be executed through Joint Venture companies. Additionally, the company secured approval for a ₹1,200 Crore Rupee Term Loan from Punjab National Bank for refinancing existing debt for the 1000 MW Neyveli New Thermal Power Station (NNTPS).

Other Updates:
The company noted the cessation of Shri Prashant Vinay Kaushik as Company Secretary and Compliance Officer, and the appointment of Shri Sushanta Kumar Panda to the role. A final dividend of 15% for FY24-25 was declared.

Outlook and Risks:
The company continues to face challenges related to land availability for mining operations at Neyveli. Furthermore, several regulatory and tariff disputes persist, including those with TNERC and CERC, leading to substantial amounts being retained under regulatory deferral liabilities. These ongoing legal and regulatory matters, along with the land acquisition challenges, represent significant risks to future operations and profitability.

NLC India Limited has been assigned an independent Environmental, Social, and Governance (ESG) rating of 'CRISIL ESG 49' by CRISIL ESG Ratings & Analytics Ltd. The company has formally intimated this to the stock exchanges, NLCINDIA (NSE) and BSE Ltd.

Key points from the disclosure:

• Event: Assignment of ESG rating.
• Rating Agency: CRISIL ESG Ratings & Analytics Ltd.
• Rating Assigned: "CRISIL ESG 49".
• Nature of Assignment: Independent, based on publicly available data.
• Company Engagement: NLC India Limited stated that it did not engage CRISIL ESG Ratings & Analytics Ltd for this rating.
• Regulatory Compliance: The intimation is made pursuant to Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This news does not contain information regarding quarterly/annual financial results, management guidance, financial deep dives (income statement, balance sheet, cash flow, ratios), or specific financial performance metrics. The primary impact is on the company's ESG profile, which is an increasingly important factor for investors assessing sustainability and corporate responsibility, especially for a 'Navratna' Government of India Enterprise.

NLC India Limited has issued a regulatory filing to inform stakeholders about an upcoming Board of Directors meeting scheduled for Wednesday, October 29, 2025. The purpose of this meeting is to review and approve the company's un-audited financial results for the second quarter and the half-year period ending September 30, 2025. Both standalone and consolidated financial statements will be considered. Additionally, the company has reiterated that the trading window for designated persons remains closed from September 30, 2025, and will reopen 48 hours after the financial results are officially declared. This intimation is crucial for investors as it signals the upcoming release of financial performance data, enabling them to assess the company's recent operational and financial health.

NLC India Limited has formally informed the stock exchanges, NSE and BSE, on October 17, 2025, about receiving an Environmental, Social, and Governance (ESG) Score. ICRA ESG Ratings Limited, in its report dated the same day, assigned NLC India Limited an ESG Score of 59. This score corresponds to an 'Adequate' rating, indicating the company's current standing in terms of sustainability practices. The disclosure was made in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This ESG score serves as a key metric for investors evaluating the company's non-financial performance and potential long-term risks and opportunities associated with its operations. While no financial performance figures or outlook guidance were provided in this specific announcement, the ESG rating can influence institutional investor decisions and the company's overall corporate reputation.

NLC India Limited has filed its compliance certification under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certification specifically covers the quarterly period ending September 30, 2025 (Q2 FY26). This mandatory filing was directed to key financial infrastructure entities: National Securities Depository Limited (NSDL), Central Depository Services (India) Limited (CDSL), National Stock Exchange of India Ltd. (NSE), and BSE Ltd. The confirmation from NLC India Limited is based on a certification received from its appointed Registrar and Share Transfer Agent (RTA), Integrated Registry Management Services Private Limited. The core assurances provided in the certification are: Shares received by participants for dematerialization have been successfully listed on the stock exchanges where the company's shares were already traded. Physical share certificates, if any, were duly verified, mutilated, and cancelled immediately upon receipt. The name of the depository was substituted as the registered owner in the company's records within the regulatory timeframe of 15 days from the certificate's receipt. Comprehensive details of all shares dematerialized or rematerialized during the specified quarter have been duly furnished to all stock exchanges where NLC India Limited's equity is listed. This disclosure is a standard compliance requirement for listed companies to ensure transparency and adherence to regulations governing the dematerialization of securities, thereby maintaining the integrity of the capital market.

NLC India Limited has formally announced the voting results of its 69th Annual General Meeting (AGM), held on September 27, 2025, through virtual means (Video Conferencing/Other Audio Visual Means). The key outcome is that all resolutions put forth for shareholder consideration were passed with the requisite majority, confirming strong shareholder confidence in the company's proposals. The meeting involved both remote e-voting and e-voting during the AGM, with M/s. D Hanumanta Raju & Co. serving as the scrutinizer.

Key resolutions approved include:

• Adoption of Financial Statements: Shareholders approved the standalone and consolidated audited financial statements for the financial year ended March 31, 2025, along with the Board of Directors' and Statutory Auditors' reports. This resolution passed with an overwhelming 99.9998% in favour.
• Dividend Approval: The interim dividend paid at ₹1.50 per equity share (15%) was confirmed, and a final dividend of ₹1.50 per equity share (15%) was declared for the financial year 2024-25. This also received 99.9998% approval.
• Director Appointments/Re-appointments: Ordinary resolutions for the re-appointment of directors retiring by rotation, Shri Samir Swarup and Shri M Venkatachalam, were passed with approximately 97.34% of votes in favour. Special resolutions for the re-appointment of independent directors, Shri Meethale Thundiyil Ramesh, Dr. Vasant Ashok Patil, and Shri Pradeep Kumar Saraogi, garnered around 91.27% to 91.29% approval. Additionally, the appointment of Shri Manoj Kumar Jha as a Government Nominee Director was approved with approximately 89.97% of votes in favour.
• Auditor Appointments: Resolutions related to the remuneration of Cost Auditors for FY 2025-26 and the appointment of Secretarial Auditors for FY 2025-26 to FY 2029-30 were also passed with over 99.99% support.

This announcement does not contain specific financial performance data or forward-looking guidance beyond the approval of existing proposals. The focus is entirely on the outcome of shareholder voting, confirming governance compliance and endorsement of management's proposed actions.

NLC India Limited's Chairman and Managing Director delivered a comprehensive speech at the 69th Annual General Meeting (AGM) on September 29, 2025, providing an in-depth review of the financial year 2024-25 and outlining the company's strategic vision for the future.

FY2024-25 Performance Highlights:

• Physical Performance: Achieved all-time record Lignite & Coal Production (41.28 MT), highest Coal Production from Talabira (17.20 MT), and highest Coal Dispatch (16.70 MT). Gross Power Generation stood at 27.87 BU, marking a 2.80% growth. Barsingsar Mine met its annual capacity target for two consecutive years, and Barsingsar TPS achieved a record 81.90% PAF. The first unit (660 MW) of the Ghatampur Thermal Power Project was commissioned, marking entry into super-critical technology operations.
• Financial Performance: The company reported its highest ever Capital Expenditure (CAPEX) of ₹7,736 crore, a 254% increase over the MoC target. Consolidated Profit Before Tax (PBT) grew by 28.29% year-on-year to ₹3,696.93 crore, and consolidated Profit After Tax (PAT) surged by 45.30% to ₹2,713.61 crore. Revenue from operations increased by 17.55% to ₹15,282.96 crore, with total income rising by 21.08% to ₹16,889.45 crore. Market capitalization reached an all-time high exceeding ₹43,000 crore. Collection efficiency stood at an impressive 109.03%, with power dues reduced by 42.12%.

Q1 FY2025-26 Performance:

• Physical: Standalone power generation was 4.54 BU, consolidated generation at 6.61 BU. Lignite production was 38.81 Lakh Tonnes and coal production was 37.88 Lakh Tonnes.
• Financial: Standalone Total Income was ₹2,780 crore (down from ₹2,903 crore YoY), and standalone PAT fell to ₹368 crore (from ₹496 crore). However, Consolidated Total Income rose to ₹4,116 crore (from ₹3,643 crore). Consolidated PBT was ₹594 crore (down from ₹822 crore), while Consolidated PAT increased to ₹839 crore (from ₹567 crore), indicating a significant tax benefit.

Outlook and Future Strategy:

NLC India is strategically focusing on diversification, sustainability, and technology. Key initiatives include:

• Renewable Energy: Commissioned 52.83 MW solar capacity, with plans to reach 10,110 MW by 2030. Several Joint Ventures (JVs) are active or being formed across states like Rajasthan, Assam, and Maharashtra for thermal and renewable projects. NLC India Renewables Limited (NIRL) has been incorporated to consolidate renewable assets, with the Cabinet Committee on Economic Affairs approving a ₹7,000 crore investment in NIRL.
• Mining and Thermal Power: Plans to expand lignite capacity to 41.35 MTPA and coal capacity to 74 MTPA by 2030. Aims to increase thermal power generation capacity to 10,020 MW, including the commissioning of the remaining units at Ghatampur and coal production from Pachwara South Coal Block.
• New Frontiers: The company is exploring opportunities in green hydrogen, battery energy storage systems (BESS), and critical minerals, aligning with national priorities like the National Green Hydrogen Mission and the National Critical Mineral Mission. MoUs have been signed for collaboration in critical minerals exploration.
• Capital Expenditure: A total CAPEX exceeding ₹1.17 Lakh crore is projected until 2029-30 for mining, power generation, and diversification.

Other Key Developments:

• Dividend: The Board recommended a final dividend of 15%, making the total dividend for FY2024-25 30% (₹418 crore).
• Tax Exemption: Received Capital Gains Tax exemption for the transfer of renewable energy assets to its subsidiary, NIRL.
• Sustainability Initiatives: Focus on waste-to-wealth concepts, including M-Sand production from overburden, eco-friendly geo-polymer bricks, and repurposing mined-out lands for solar power plants. The company is also exploring Rare Earth Element extraction from fly ash.
• Subsidiary Performance: NLC Tamil Nadu Power Limited (NTPL) recorded a PAT of ₹1,060.69 crore, and Neyveli Uttar Pradesh Power Limited (NUPPL) is progressing with the Ghatampur project and coal block development.

The company is committed to sustainable growth and aims to be a key player in India's energy transition, leveraging its expanded capacity and diversification efforts.

NLC India Limited held its 69th Annual General Meeting on September 27, 2025. The Chairman's speech highlighted record-breaking performance for FY 2024-25 and outlined an ambitious growth strategy.

FY 2024-25 Performance Highlights:

• Physical: Achieved all-time highest Lignite & Coal Production of 41.26 Million Tonnes (MT). Highest ever coal production (17.20 MT) and dispatch (16.70 MT) from Talabira mines. Gross Power Generation stood at 27.87 Billion Units (BU), a 2.80% growth over the previous year, including 2.10 BU of Green Power. Barsingsar Lignite Mine achieved its annual target for the second consecutive year, and Barsingsar Thermal Power Station recorded a record 81.90% Plant Availability Factor (PAF). The first Unit (660 MW) of Ghatampur Thermal Power Project was commissioned.
• Financial: Registered highest ever CAPEX of ₹7,736 Crore, exceeding the Ministry of Coal target by 254%. Consolidated Profit Before Tax (PBT) grew by 28.29% YoY to ₹3,696.93 Crore, and consolidated Profit After Tax (PAT) surged by 45.30% YoY to ₹2,713.61 Crore. Revenue from operations increased by 17.55% YoY to ₹15,282.96 Crore, and total income grew by 21.08% YoY to ₹16,889.45 Crore. Market Capitalisation touched an all-time high of over ₹43,000 Crore.
• Other Achievements: Ministry of Finance granted Capital Gains Tax exemption for the transfer of renewable energy assets to its wholly-owned subsidiary, NLC India Renewables Limited (NIRL). Collection efficiency was 109.03%, and power dues were reduced by 42.12%.

Performance for Q1 FY 2025-26 (April-June 2025):

• Physical: Standalone power generation was 4.54 BU, consolidated power generation was 6.61 BU. Lignite production was 38.81 Lakh Tonnes (LT) and coal production was 37.88 LT.
• Financial: Standalone Total Income was ₹2,780 Crore (down 4.24% YoY), and Standalone PAT was ₹368 Crore (down 25.81% YoY). Consolidated Total Income rose by 13.00% YoY to ₹4,116 Crore. Consolidated PBT decreased by 27.74% YoY to ₹594 Crore, but Consolidated PAT increased by 47.97% YoY to ₹839 Crore.
• Renewable Projects: Commissioned 52.83 MW of Solar capacity in Rajasthan.

Subsidiaries & Joint Ventures:

• NTPL: Reported PAT of ₹1,060.69 Crore for FY25 (vs ₹129.16 Cr YoY).
• NUPPL: Ghatampur TPP Unit-1 achieved Commercial Operation on December 12, 2024. Unit-2 and Unit-3 are expected to be operational in FY 2025-26. Development of the Pachwara South Coal Block is progressing.
• NIRL: Incorporated as a wholly-owned subsidiary to consolidate renewable assets. CCEA approved ₹7,000 Crore investment for renewable projects. NIRL is implementing multiple solar, wind, and BESS projects across India.
• Joint Ventures: Established JVs for renewable projects in Assam (1,000 MW) and Rajasthan (2,000 MW), and a JV with MAHAPREIT for 2,000 MW in Maharashtra. A JV was also formed for a 3x125 MW Lignite-based Thermal Power Station in Rajasthan.

Outlook & Future Plans:

• Corporate Plan 2030 Targets: Aims to significantly increase capacities: Lignite from 30.10 MTPA to 41.35 MTPA, Coal from 20 MTPA to 74 MTPA, Thermal Power Generation from 5,300 MW to 10,020 MW, and Power from Renewable Sources from 1,431 MW to 10,110 MW.
• FY 2025-26 Priorities: Commissioning of Ghatampur TPP's remaining two units (1,320 MW), commencement of coal production at Pachwara South Coal Block, completion of railway siding projects, commissioning of 1,000+ MW renewable energy projects, pilot projects for Green Hydrogen generation and EV charging stations, and development of commercial coal mines.
• Diversification: Ventures into Critical Minerals Mining (awarded Semhardih and Raipura blocks), OB to M-Sand production, Lignite to Methanol, Lignite to diesel, and IGCC Technology pilot projects.
• Capex: Estimated capital expenditure to exceed ₹1.17 Lakh Crore till 2029-30.
• Sustainability Initiatives: Focus on 'Waste to Wealth' (M-Sand, Waste to Craft), Geo-polymer Ash-Based Green Bricks, REE extraction from fly ash, and bio-reclamation of land.

Dividend:

• The Board recommended a final dividend of 15% (₹1.50 per share), making the total dividend for FY 2024-25 30% (₹416 Crore), in addition to the interim dividend already paid.

Other Updates:

• The company received multiple awards for project management, sustainability, leadership, and financial performance.
• Industrial relations remained cordial with no man-hours lost.
• CSR expenditure for FY 2024-25 was ₹48.63 Crore.

NLC India Limited has officially submitted an intimation to the National Stock Exchange of India Ltd. and BSE Ltd. concerning the demise of one of its directors. The company regretfully announced that Dr. Beela Venkatesan (DIN: 02729408), who held the position of Government Nominee Director, passed away on September 24, 2025.

This unfortunate event is considered an irreparable loss to NLC India Limited, with the Board Members and employees expressing their deep sympathy and sorrow to her family. The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. An annexure provided with the intimation confirmed the reason for change as "Death" and the date of cessation as September 24, 2025. Information regarding her brief profile or any relationships with other directors was stated as 'Not Applicable' for this disclosure.

The news primarily pertains to corporate governance and board composition. It does not contain any financial performance figures, quarterly or annual results, revenue, profit, margin analysis, EPS, or analyst comparisons. Furthermore, there is no management guidance, outlook, discussion on growth drivers, risks, or call highlights provided. The financial deep dive section, covering income statement, balance sheet, cash flow, and key ratios, is also absent. Similarly, there are no mentions of significant orders, expansions, penalties, product launches, or regulatory actions impacting the company's operations or financials. Therefore, this disclosure is purely administrative and does not offer investment-related financial data for analysis.

NLC India Limited has formally notified the National Stock Exchange (NSE) and BSE about the closure of its trading window. This closure is a procedural requirement under the SEBI (Prohibition of Insider Trading) Regulations, 2015, designed to prevent insider trading. The window will be shut for all designated persons associated with the company from September 30, 2025. It will subsequently reopen 48 hours after the official declaration of NLC India's un-audited financial results for both the second quarter and the first half of the financial year ending September 30, 2025. The company has stated that the exact date of the Board Meeting convened to approve these financial results will be communicated in due course. This announcement does not include any specific financial performance data, future guidance, or other operational updates.

NLC India Limited has received a Letter of Intent (LoI) from the Government of Chhattisgarh for two key mineral blocks: the Semhardih Phosphorite & Limestone Block and the Raipura Phosphorite & Limestone Block, both located in Balod district, Chhattisgarh. This signifies a crucial step in the company's strategy to expand its mining and mineral resources. The LoI is an important precursor to securing mining leases, indicating a strong likelihood of NLC India developing these blocks. Phosphorite and limestone are critical raw materials for industries such as cement, steel, and particularly for the production of fertilizers. This development aligns with NLC India's broader objectives of diversification and resource augmentation. The company has formally intimated this development to the stock exchanges, including the NSE and BSE, under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, underscoring its materiality. While specific financial values or timelines are not yet disclosed, the securing of these LoIs represents a significant positive step for the company's long-term growth prospects and resource base expansion.

NLC India Limited (NLCIL) has attained a significant milestone by becoming the first Central Public Sector Enterprise (CPSE) in India to be awarded the International Project Management Association (IPMA) Delta Certification – Level 3 (Standardized). This prestigious certification is a testament to NLCIL’s maturity in project, program, and portfolio management governance practices. It signifies the company's dedication to upholding high standards of transparency, accountability, and innovation in its operations. The recognition aligns NLCIL with global project management benchmarks, supporting its strategic Vision 2030. This achievement is expected to reinforce the confidence of stakeholders in the company's capacity to execute projects efficiently and sustainably, setting a benchmark for excellence in the sector. The intimation was filed with the stock exchanges on September 15, 2025, under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

NLC India Limited (NLCIL) has signed a Memorandum of Understanding (MoU) with M/s. Khanij Bidesh India Limited (KABIL) on September 10, 2025. This agreement marks NLCIL's proactive pursuit of opportunities within the critical minerals and Rare Earth Elements (REE) sector, both in India and internationally.

The collaboration is in line with the Government of India's directive encouraging Public Sector Enterprises (PSEs) to acquire critical mineral assets through focused domestic and international strategies. The MoU with KABIL will enable NLCIL to jointly identify, acquire, and develop critical and strategic mineral projects on a global scale, representing a significant diversification and strategic expansion for the company beyond its core energy operations.

This initiative signals NLCIL's intent to build a robust portfolio in resources vital for future industrial and technological advancements. Financial details or specific project targets were not disclosed in this announcement.

NLC India Limited has officially announced the appointment of joint statutory auditors for the upcoming financial year 2025-26. This critical corporate governance step was communicated to the stock exchanges, National Stock Exchange of India Ltd. and BSE Ltd., on September 11, 2025. The appointment of the auditors has been made by the Office of the Comptroller and Auditor General of India (CAG), as per the company's intimation received via a letter dated September 10, 2025.

The appointed firms are M/s. P K F Sridhar & Santhanam LLP, Chartered Accountants, based in Chennai, and M/s. Sundaram & Srinivasan, Chartered Accountants, also based in Chennai. These appointments are in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

M/s. P K F Sridhar & Santhanam LLP, established in 1978, comprises 25 partners and operates from offices in Chennai, Bangalore, New Delhi, Hyderabad, and Mumbai. Their profile highlights a commitment to high-quality service, leveraging industry expertise, technical knowledge, and direct access to senior professionals. They employ a risk-based, tech-enabled methodology supported by digital platforms like INFLO, offering value-added insights. Their experience spans various sectors, including digital and technology, with a focus on risk mitigation and efficiency.

M/s. Sundaram & Srinivasan, founded in 1943, has a legacy spanning over 80 years, with 14 partners and branches in Madurai, Bangalore, and Mumbai. Their philosophy centers on blending technical, practical, and business expertise to deliver precise services. They have a strong track record in manufacturing, BFSI, and other sectors, emphasizing industry-aligned insights, global perspective with local depth, and value beyond compliance. Their capabilities include Ind AS expertise, supply chain assurance, technology integration, and multi-location audits.

The appointment of these firms is a routine but important regulatory requirement that ensures the integrity and reliability of NLC India Limited's financial reporting for FY 2025-26.

NLC India Limited has officially informed the stock exchanges (NSE and BSE) and its shareholders about the upcoming 69th Annual General Meeting (AGM). The meeting is scheduled to take place on Saturday, September 27, 2025, commencing at 15:00 Hours IST, and will be conducted entirely through Video Conferencing (VC) / Other Audio Visual Means (OAVM) in compliance with regulatory requirements.

The Notice of the 69th AGM, along with the Integrated Annual Report for the Financial Year 2024-25, has been dispatched to shareholders via electronic mode. The Annual Report and AGM Notice are also accessible on the company's website (www.nlcindia.in) and the websites of BSE and NSE.

Shareholders are provided with extensive details regarding the e-voting process. Remote e-voting will commence on Tuesday, September 23, 2025, at 9:00 AM and conclude on Friday, September 26, 2025, at 5:00 PM. E-voting during the AGM will also be available for attendees who have not already cast their vote remotely. The cut-off date for determining voting rights is Friday, September 19, 2025.

In connection with the final dividend and the AGM, the company's Register of Members and Share Transfer Books will be closed from September 20, 2025, to September 27, 2025, both days inclusive. The final dividend, if declared at the AGM, will be paid to members whose names appear in the Register of Members as of the Record Date, which is Friday, September 19, 2025. Shareholders are guided on registering their email addresses and obtaining login credentials for the e-voting process, with NSDL acting as the service provider for both e-voting and VC/OAVM facilities. M/s. D. Hanumanta Raju & Co. has been appointed as the Scrutinizer for the e-voting process.

NLC India Limited has officially informed the stock exchanges (NSE and BSE) about its upcoming 69th Annual General Meeting (AGM), scheduled to be held on Saturday, September 27, 2025, at 15:00 Hours IST. The meeting will be conducted through Video Conference (VC) / Other Audio-Visual Means (OAVM), as per SEBI and MCA circulars. Shareholders can access the Annual Report for the Financial Year 2024-25 and the Notice of the AGM via direct web links provided by the company, including on stock exchange websites and NSDL's e-voting portal.

Key details regarding remote e-voting are provided, with the voting period commencing on September 23, 2025, at 9:00 a.m. IST and concluding on September 26, 2025, at 5:00 p.m. IST. The cut-off date for entitlement to vote and attend the AGM is September 19, 2025.

The Board of Directors has recommended a Final Dividend of Rs 1.50 per equity share (15%) for the financial year ended March 31, 2025, subject to the approval of members at the ensuing AGM. Shareholders are advised on the process for receiving dividends electronically, including the requirement for PAN and KYC details, with a submission deadline of September 25, 2025. The company is also facilitating the submission of tax exemption forms.

Additionally, NLC India Limited has launched a 'Saksham Niveshak' campaign from July 28, 2025, to November 6, 2025, to assist shareholders with unclaimed dividends, pending KYC, bank mandate updates, and nominee details, aiming to prevent shares from being transferred to the Investor Education and Protection Fund Authority (IEPFA).

NLC India Limited (NLCIL) released its Integrated Annual Report for FY 2024-25, highlighting key achievements and strategic initiatives.

➤ Key Highlights:
• Record lignite and coal production.
• Commissioning of Unit-I at Ghatampur Thermal Power Station.
• Significant renewable energy progress.
• Highest-ever capital expenditure of ₹7,736 crore.
• 17.55% revenue growth to ₹15,283 crore.
• Record PAT of ₹2,714 crore.

➤ Operational Performance:
• Lignite and coal production increased by 14%.
• Talabira II & III coal mine achieved 17.2 MTPA production, a 36% increase YoY.
• Commissioning of Ghatampur Thermal Power Station Unit-I.

➤ Renewable Energy Expansion:
• Joint Venture Agreements with Assam, Rajasthan, and Maharashtra.
• Formed ‘NIRL Assam Renewables Limited (NARL)’, ‘NLC Rajasthan Power Limited (NRPL)’, and ‘NIRL Rajasthan Renewables Limited (NRRL)’.

➤ Financial Performance:
• Revenue from operations grew by 17.55% to ₹15,283 crore.
• Highest-ever EBITDA of ₹6,513 crore.
• All-time highest PAT of ₹2,714 crore.
• Market capitalization reached over ₹43,000 crore.

➤ Record Capex Achievement:
• Highest-ever capital expenditure of ₹7,736.10 crore.

➤ Mining Expansion:
• Coal production from Pachwara South OCP Mines expected shortly.
• Development of commercial coal mines: North Dhadu (Western Part), Machhakata (Revised), New Patrapara.
• Ventured into Critical Minerals Mining Business with blocks in Chhattisgarh.

➤ Diversification into Critical Minerals:
• Successful bidder for Semhardih Phosphorite and Limestone Block and Raipura Phosphorite and Limestone Block in Chhattisgarh.
• Exploring possibilities for acquiring overseas critical minerals assets.

➤ Thermal Power Projects:
• Commissioning of Unit-I of Ghatampur Thermal Power Station (660 MW).
• Units II & III under construction.

➤ Renewable Energy Projects:
• Barsingsar 300 MW Solar Project progressing well.
• 150 MW Hybrid Wind-Solar Project under development in Gujarat.
• 600 MW Solar Project at Khavda Solar Park, Gujarat.
• 200 MW Solar Project under CPSU scheme in Gujarat.
• Preliminary activities underway for 810 MW Pugal Solar Park Project in Rajasthan.

➤ Infrastructure & Evacuation Systems:
• Implementing railway sidings at Talabira, North Dhadu, Pachwara South OCP, and Machhakata.
• Deployment of digital logistics solutions.

➤ Sustainability and Innovation:
• OB to M-Sand Initiative: Converting Overburden into Manufactured Sand.
• Lignite to Methanol Project: Evaluating options for future development.
• Green Hydrogen Pilot Plant: Advancing a 4 MW Green Hydrogen pilot project at Neyveli.
• Renewable Energy in Mined-out and Industrial Areas: Establishing solar power projects in backfilled areas.
• Battery Energy Storage System (BESS) and Pumped Storage: Pursuing BESS projects in Tamil Nadu and pumped storage projects in Tamil Nadu and Odisha.

This document is the Business Responsibility and Sustainability Report (BRSR) for NLC India Limited for the Financial Year 2024-25, filed as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It provides a comprehensive overview of the company's commitment to Environmental, Social, and Governance (ESG) principles. The report details NLCIL's performance in areas such as greenhouse gas emissions, water management, energy consumption, waste management, employee welfare, health and safety, gender diversity, labour practices, and community engagement. It also outlines the company's governance framework, policies, and stakeholder engagement processes. The disclosures cover a consolidated basis for the company and its entities. JointValues ESG Services Pvt. Ltd. has provided reasonable assurance on the BRSR Core attributes for the reporting period. Key long-term goals mentioned include increasing power generation capacity to 20,130 MW and renewable energy capacity to 10,110 MW by 2030.

NLC India Limited has issued an intimation regarding its 69th Annual General Meeting (AGM), scheduled for Saturday, September 27, 2025, at 15:00 Hours IST. The meeting will be conducted virtually through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The company has fixed Friday, September 19, 2025, as the Record Date/Cut-Off Date for determining shareholder eligibility for the AGM and the Final Dividend, with the Register of Members and Share Transfer Books closing from September 20 to September 27, 2025. The remote e-voting period will commence on September 23, 2025, and conclude on September 26, 2025. Key agenda items for the AGM include the consideration and adoption of the standalone and consolidated audited financial statements for the Financial Year ended March 31, 2025. Shareholders will also vote on confirming the interim dividend of ₹1.50 per equity share and declaring a final dividend of ₹1.50 per equity share for FY 2024-25, aggregating to a total dividend of ₹3.00 per share. The meeting will also cover the re-appointment of Directors Shri Samir Swarup and Shri M Venkatachalam. Furthermore, the company proposes the appointment of Shri Meethale Thundiyil Ramesh, Dr. Vasant Ashok Patil, and Shri Pradeep Kumar Saraogi as Independent Directors, and Shri Sanoj Kumar Jha as a Government Nominee Director. The AGM agenda also includes the ratification of remuneration for the Cost Auditors for FY 2025-26 (₹6,00,000 plus applicable taxes) and the appointment of D. Hanumanta Raju & Co. as Secretarial Auditor for a term of five years from FY 2025-26 to FY 2029-30 at a fee of ₹3,36,300. The notice also provides detailed instructions for shareholders on remote e-voting and attending the virtual AGM through NSDL's platform.

NLC India Limited has received a significant endorsement of its financial stability as CRISIL Ratings has reaffirmed its highest credit rating of CRISIL AAA/Stable. This affirmation covers the company's substantial bank loan facilities, which have seen an enhancement from Rs. 6,484.7 crore to Rs. 10,334.7 crore, signalling increased borrowing capacity and lender confidence. Furthermore, the rating for its Non-Convertible Debentures (NCDs) of Rs. 2,500 crore, a reduction from the previously rated Rs. 3,000 crore, has also been maintained at CRISIL AAA/Stable. The 'AAA' rating signifies the highest degree of credit quality, indicating extremely strong capacity to meet financial commitments. The 'Stable' outlook suggests that CRISIL expects the company to maintain its credit quality over the medium term, supported by its operational performance and market position. This positive rating action underscores NLC India's robust financial health and strong debt-servicing capabilities. As a 'Navratna' company and a Government of India Enterprise, NLC India's strong credit profile is a reflection of its operational efficiency and market position in the power sector, particularly lignite mining and power generation. The news does not provide specific quarterly or annual financial results, management guidance, or details on recent orders or expansions. The primary focus is on the credit rating reaffirmation and the associated financial instruments.

NLC India Limited has issued a notification regarding its upcoming 69th Annual General Meeting (AGM), slated for September 27, 2025. The meeting will convene at 3:00 PM IST and will be conducted exclusively through Video Conferencing (VC) or Other Audio Visual Means (OAVM), in strict compliance with applicable provisions of the Companies Act, 2013, and recent MCA and SEBI circulars concerning virtual meetings. The company will distribute the Integrated Annual Report for FY 2024-25 electronically to all members with registered email addresses, with hard copies available upon request. A significant focus of the notice is on shareholder record updates. Holders of physical securities are mandated to submit essential details such as PAN, postal address, mobile number, and bank account information through Form ISR-1 to the company or its Registrar and Share Transfer Agent. Concurrently, shareholders holding shares in dematerialized form are advised to ensure their contact details and bank mandates are updated with their respective Depository Participants. The notice also provides comprehensive guidance on the remote e-voting facility offered via NSDL and the process for voting during the AGM, ensuring all members can participate effectively in the company's governance and decision-making processes.

NLC India Limited, a prominent 'Navratna' company operating under the Government of India's aegis, has formally notified the stock exchanges, including the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), regarding specific corporate actions. The announcement, dated September 3, 2025, serves as a continuation of an earlier correspondence dated September 2, 2025, and details the outcome of a Board meeting. The primary focus of this regulatory filing is the closure of the company's essential shareholder registers. Specifically, the Register of Members, Share Transfer Books, Demat Records (covering NSDL and CDSL), and the Register of Beneficiaries will be temporarily suspended from September 20, 2025, up to and including September 27, 2025. This period is typically designated for administrative processing related to corporate actions. While the exact reason for this book closure has not been explicitly stated in the provided document, such events are commonly linked to the determination of eligibility for dividends, bonus shares, rights issues, or other shareholder entitlements. The company has communicated this schedule to the exchanges for their information and records. It is crucial to note that this particular disclosure does not provide any quantitative financial information. There are no details available regarding NLC India Limited's recent quarterly or annual financial performance, such as revenue growth, EBITDA, PAT figures, profit margins, or earnings per share (EPS). Furthermore, the announcement does not include any forward-looking management guidance, commentary on growth drivers, potential risks, or updates on strategic initiatives, product launches, major orders, or expansions. Consequently, an analysis of financial deep dives, balance sheet strength, cash flow generation, key financial ratios (like ROE/ROCE, debt-to-equity), or comparative performance against prior periods cannot be derived from this news. The news is purely procedural.

NLC India Limited announced the outcome of its Board Meeting held on September 2, 2025. The board approved the appointment of D. Hanumanta Raju & Co., Company Secretaries, as the company's Secretarial Auditors for a period of five consecutive years, commencing from FY 2025-26 till FY 2029-30. This appointment is subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM). Additionally, the company fixed Friday, September 19, 2025, as the record date for ascertaining shareholders eligible for the final dividend for the financial year 2024-25, which is also subject to shareholder approval. The Register of Members and Share Transfer Books will be closed from September 19, 2025, to September 27, 2025, for the purpose of the 69th AGM. The 69th AGM is scheduled to be held on Saturday, September 27, 2025, at 15:00 Hours through Video Conferencing / Other Audio-Visual Means.

The board of NLC India Limited, a 'Navratna' Government of India Enterprise, met on Tuesday, September 2, 2025, and approved several key corporate actions. Pursuant to SEBI (LODR) Regulations, 2015, the company fixed Friday, September 19, 2025, as the record date for the purpose of ascertaining shareholders eligible for the final dividend for the financial year 2024-25. This dividend payment is subject to approval by the shareholders at the ensuing Annual General Meeting (AGM).

In a significant governance move, the board appointed D. Hanumanta Raju & Co., Company Secretaries, as the Secretarial Auditors of the company. This appointment is for a consecutive period of five years, commencing from FY 2025-26 and concluding in FY 2029-30, and is also subject to shareholder approval at the AGM. D. Hanumanta Raju & Co. is a well-established firm of Practising Company Secretaries founded in 1990, based in Hyderabad, with a focus on corporate law and SEBI regulations.

Furthermore, the notice for the 69th Annual General Meeting (AGM) of the shareholders was approved. The AGM is scheduled to be held on Saturday, September 27, 2025, at 15:00 Hours, conducted entirely through Video Conferencing ("VC") / Other Audio-Visual Means ("OAVM"), in compliance with relevant MCA and SEBI circulars. The Register of Members, Share Transfer Books, and Demat Records will be closed from September 19, 2025, to September 27, 2025, for the purposes of the AGM and dividend payment. The meeting commenced at 11:00 Hours and concluded at 13:15 Hours. No financial results, guidance, or outlook commentary was provided in this announcement.

NLC India Limited's Board of Directors, in a meeting held on September 2, 2025, approved several key corporate actions. The company appointed D. Hanumanta Raju & Co., a Hyderabad-based firm of Practising Company Secretaries, as its Secretarial Auditors for a significant five-year period, commencing from FY 2025-26 and concluding in FY 2029-30. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Additionally, the Board fixed Friday, September 19, 2025, as the record date for identifying shareholders eligible for the final dividend for the financial year 2024-25, which also requires shareholder confirmation. To facilitate these processes and other corporate matters, the Register of Members and Share Transfer Books will be closed from September 19, 2025, to September 27, 2025. The company also announced that its 69th AGM will be held on Saturday, September 27, 2025, at 15:00 Hours, conducted through Video Conferencing (VC) and Other Audio-Visual Means (OAVM), in compliance with MCA and SEBI circulars. The company provided these disclosures as per SEBI Regulation 30 and related circulars.

NLC India Limited has received intimations from both the National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) imposing a fine of Rs. 5,36,900/- (including GST) each. This penalty is for non-compliance with Regulation 17(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pertaining to the composition of the Company's Board of Directors. The company has formally requested NSE and BSE to grant a waiver for these fines. The grounds for the waiver request include that, as a Government Company, the appointment of directors rests with the President of India, and the Ministry of Coal, the administrative ministry, is kept informed about the need to appoint the required number of Independent Directors. NLC India clarified that this non-compliance is neither attributable to any negligence or default on the part of the company nor is it within the control of the company's management. The company also stated that these fines have no impact on its operations or other activities.

NLC India Limited has informed the stock exchanges about the commencement of commercial operations for the first phase of its 300 MW Solar Power Project. The commissioned capacity stands at 52.83 MW and is located at Barsingsar, in the Bikaner district of Rajasthan.

The company received the Commissioning Certificate for this phase from Rajasthan Renewable Energy Corporation Limited on August 26, 2025, confirming its operational status. This marks a crucial step in the company's strategy to bolster its renewable energy portfolio and contribute to India's clean energy goals. While this announcement focuses on the operational commencement, the full impact on financials will be visible in subsequent earnings reports. The project is part of NLC India's broader expansion in solar power generation, aiming to leverage solar potential across the country.

NLC India Limited, a 'Navratna' company, has issued a notification regarding a special window for the re-lodgement of transfer requests for physical shares, in compliance with SEBI circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97 dated July 2, 2025. This special window is exclusively for transfer requests that were originally lodged before April 1, 2019, but were rejected or returned due to deficiencies in documents or processes. The window is open from July 7, 2025, to January 6, 2026. Legally valid and complete documents for transfer, where ownership is not disputed, will be considered for re-lodgement. A key aspect is that all securities re-lodged for transfer during this period will be issued only in dematerialized (demat) form, requiring investors to possess a demat account and submit a copy of their Client Master List (CML) along with their share certificates.

Furthermore, NLC India is participating in the 'Saksham Niveshak' campaign, initiated by the IEPF Authority, Ministry of Corporate Affairs (MCA). This 100-day campaign, running from July 28, 2025, to November 6, 2025, aims to assist shareholders who have not claimed their dividends for financial years 2018-19 to 2023-24, have not updated their KYC, or have other issues related to unclaimed dividends and shares. Shareholders are advised to contact the company's Registrar and Transfer Agent, Integrated Registry Management Services Private Limited, for assistance.

This notification from NLC India Limited serves to inform the stock exchanges, NSE and BSE, about the availability of the transcript from its Institutional Investors Conference Call held on August 13, 2025. This release is mandated under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transcript, which can be accessed through a specific path on the company's website or via a direct weblink (https://www.nlcindia.in/webassets/investor/NLCIL-Transcript_Q1_FY26.pdf), contains detailed discussions between the company's management and institutional investors. While the transcript itself is not provided here, its availability signifies management's engagement on topics potentially covering quarterly results (likely Q1 FY26), operational performance, future growth drivers, market outlook, strategic initiatives, and financial guidance. Investors can refer to this document for in-depth insights into the company's strategic positioning and future prospects. No specific financial figures, guidance details, or event-specific impacts are detailed in this notification itself, but the transcript is the primary source for such information.

NLC India Limited has filed a regulatory update with the stock exchanges (NSE and BSE) on August 13, 2025, regarding the availability of the audio recording of its Institutional Investors Conference Call. This call was convened to discuss the financial results for the first quarter of the fiscal year 2025-26. In compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has provided the necessary web links and navigation paths for investors to access the recording. Investors can find the audio recording via a direct weblink: https://www.nlcindia.in/webassets/investor/Inv_Conf_Call_Audio_Recording_aug2025.mp3. Alternatively, the recording is accessible through the company's website (www.nlcindia.in) under the 'INVESTORS' section, specifically within 'Disclosure under Regulation 46 of LODR' > 'Schedule of analysts or institutional investors meet and presentations' > 'Audio or video recordings and transcripts'. This announcement facilitates investor access to management's discussions on the quarterly performance and outlook, though the actual financial figures or management guidance are not detailed within this specific filing.

NLC India Limited has officially notified the stock exchanges regarding an upcoming conference call to discuss its financial results for the quarter ended June 30, 2025 (Q1 FY26). The call is scheduled for Wednesday, August 13, 2025, at 16:00 hours IST. Senior management, including the Chairman and Managing Director, will participate. This announcement serves as a regulatory compliance under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided detailed access credentials and contact information for investors and analysts to join the call and engage with the management. While the financial figures and management guidance are yet to be disclosed, this call is the designated forum for such discussions, offering stakeholders an opportunity to understand the company's performance, strategies, and outlook for the upcoming periods.

NLC India Limited released its un-audited financial results for the quarter ended June 30, 2025. The company reported a robust performance on a consolidated basis, with Profit After Tax (PAT) showing a significant year-on-year (YoY) increase of 48.09%, reaching ₹839.21 Crore compared to ₹566.69 Crore in the same quarter last year (Q1 FY24). Total income from operations also recorded a healthy YoY growth of 13.24%, amounting to ₹3,825.61 Crore against ₹3,378.17 Crore in Q1 FY24.

On a quarter-on-quarter (QoQ) basis, the company demonstrated substantial improvement in profitability, with PAT escalating by 79.13% from ₹468.46 Crore in the previous quarter (Q4 FY25). However, total income saw a slight decrease of 0.27% QoQ, falling from ₹3,836.00 Crore.

Net Profit Before Tax (after exceptional and rate regulated activities) for the quarter was ₹593.60 Crore, marking a YoY decline of 27.75% from ₹821.66 Crore in Q1 FY24. The consolidated Earnings Per Share (EPS) after adjustment for net regulatory deferral balances stood at ₹6.05, reflecting a 47.92% YoY increase from ₹4.09 in Q1 FY24 and a 78.99% QoQ increase from ₹3.38.

In terms of financial health, the consolidated Debt Equity Ratio improved to 1.19 as of June 30, 2025, down from 1.30 at the end of Q1 FY24, indicating a reduction in leverage. The Interest Service Coverage Ratio was reported at 4.79 for the quarter, a decrease from 7.62 YoY. The standalone results for the quarter showed a YoY decline in both PAT (down 25.97% to ₹368.17 Cr) and revenue (down 5.78% to ₹2,495.60 Cr).

NLC India Limited has announced robust financial results for the first quarter of FY25-26, alongside significant operational milestones and strategic expansion initiatives. The company reported a 13.25% year-on-year increase in revenue from operations, reaching ₹3,825.61 Cr, with total income growing by 12.99% to ₹4,115.85 Cr. Profit After Tax (PAT) saw a substantial surge of 48.09%, amounting to ₹839.21 Cr, up from ₹566.69 Cr in the corresponding period last year. The company's capital expenditure achievement for Q1 FY25-26 was ₹1,925.62 Cr, exceeding its target by 13%. Key operational highlights include the Prime Minister dedicating Unit 1 (660 MW) of NUPPL's Ghatampur Thermal Power Station to the nation and the successful oil synchronization of Unit-2 (660 MW) of the same project. Strategically, NLC India has marked its entry into the critical minerals sector by being declared the preferred bidder for two blocks in Chhattisgarh and signing an MoU with IREL (India) Limited for collaboration. Furthermore, NIRL has been awarded a 250MW/500 MWhr Battery Storage System project, and NLC India received a Letter of Award from NTPC for a 450 MW Wind-Solar Hybrid Power Project. Regulatory updates include CCEA's approval for a ₹7000 Cr investment in NIRL and the granting of Stage-II Forest Clearance for Pachwara South OCP by MoEF&CC.

NLC India Limited announced its Q1 FY25 financial results. On a standalone basis, revenue from operations stood at ₹2,495.60 Cr, a 5.8% decrease YoY. Profit After Tax (PAT) declined by 25.8% YoY to ₹368.17 Cr, with EPS (after regulatory deferral) at ₹1.61, down 55% YoY. The operating margin was 13.89% and net profit margin was 13.61%. The Debt-to-Equity ratio was 0.42, and the Current Ratio was 0.82.

On a consolidated basis, the company reported stronger performance. Revenue from operations grew 13.2% YoY to ₹3,825.61 Cr. PAT attributable to owners increased significantly by 70.3% YoY to ₹797.59 Cr, leading to an EPS of ₹5.02, up 48.5% YoY. Consolidated operating margin was 14.93%, and net profit margin was 20.81%. The consolidated Debt-to-Equity ratio stood at 1.30.

A key development was the Board's in-principle approval for a Business Transfer Agreement to transfer identified operational renewable assets worth ₹5,228 Cr to its wholly-owned subsidiary, NLC India Renewables Limited, as part of the company's asset monetization scheme. The Cabinet Committee on Economic Affairs (CCEA) also approved an investment of ₹7,000 Cr in this subsidiary.

Several regulatory matters were highlighted, including appeals against tariff orders and compliance with a new mineral-bearing land tax. Auditors noted material uncertainty regarding going concern due to land availability issues at Neyveli mines, although their conclusion was not modified. The company also faces penalties for non-compliance with SEBI regulations concerning board composition.

NLC India Limited announced its Q1 FY25 financial results, showcasing a stark contrast between its consolidated and standalone performance. On a consolidated basis, the company reported a significant 79.18% YoY increase in Profit After Tax (PAT) to ₹839.21 Crore, accompanied by a 13.25% YoY rise in revenue from operations to ₹3,825.61 Crore. This growth was driven by better performance in its subsidiaries. Conversely, standalone PAT saw a decline of 26.15% YoY to ₹368.17 Crore, with revenue from operations decreasing by 5.79% YoY to ₹2,495.60 Crore. Standalone operating margins compressed considerably, falling by 9.15 percentage points YoY to 13.89%, and net profit margins also contracted.

A major strategic development highlighted in the results is the Board's in-principle approval for a Business Transfer Agreement to transfer identified Operational Renewable Assets to its wholly-owned subsidiary, NLC India Renewables Limited (NIRL), for an estimated value of ₹5,228 Crore. This move is part of the company's asset monetization scheme. The Cabinet Committee on Economic Affairs (CCEA) also approved an investment of ₹7,000 Crore in NIRL. The company has also incorporated new subsidiaries for power projects and renewable energy development in Rajasthan and Assam.

Operationally, NLC India is facing challenges related to land availability at its Neyveli lignite mining operations, which is impacting operations, although the company remains confident of overcoming these. The company is also actively involved in several regulatory matters, including appeals against tariff orders, disputes with TANGEDCO concerning interest claims, and compliance with a new mineral bearing land tax act in Tamil Nadu.

Financial health metrics show a mixed trend. The standalone Debt-to-Equity ratio improved to 0.42 from 0.47 YoY, while the consolidated ratio increased to 1.30 from 1.20. Current ratios for both standalone (0.82) and consolidated (0.78) operations declined YoY, indicating tighter liquidity. Interest Service Coverage Ratios also saw a YoY deterioration on both standalone and consolidated bases.

The company has also been flagged for penalties by stock exchanges for non-compliance with SEBI regulations regarding the appointment of independent directors.

NLC India Limited has formally intimated the National Stock Exchange of India Ltd. and BSE Ltd. about an upcoming Board of Directors meeting. Scheduled for Thursday, August 7, 2025, the meeting's primary agenda is to consider and approve the Un-Audited Financial Results for the first quarter of the fiscal year 2025, ending June 30, 2025. These results will be presented on both a standalone and consolidated basis. As per SEBI (Prohibition of Insider Trading) Regulations, 2015, the company has also confirmed that the trading window for designated persons is currently closed, effective from June 30, 2025, and will reopen only 48 hours after the declaration of these financial results. This announcement is a regulatory requirement under Regulation 29 and 50 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency and timely information dissemination to stakeholders regarding the company's financial performance. No specific financial figures or performance metrics are provided in this intimation; it serves solely as a notification of the forthcoming results announcement.