National Aluminium Company Ltd (NALCO) has achieved its highest-ever financial results for FY 2025-26, with profit after tax rising 9% to Rs 5,816 crore. The company also reported strong Q1 FY 2026-27 results with a profit of Rs 2,002 crore. Robust operational output in bauxite excavation and alumina sales, coupled with ongoing brownfield expansions, underscore the company's strong growth trajectory.
NALCO Hits Record Financials for FY 2025-26
Profit After Tax hit Rs 5,816 crore with Revenue reaching Rs 17,843 crore.
Reader Takeaway: Strong operational output and record sales drive record-breaking profits despite ongoing expansion-related project challenges.
What just happened
National Aluminium Company Ltd (NALCO) has delivered its strongest financial performance to date for the fiscal year 2025-26. The company saw a 9% jump in Profit After Tax (PAT) to Rs 5,816 crore, compared to Rs 5,325 crore in the previous year. Revenue from operations climbed 6% to Rs 17,843 crore. The company maintained momentum into the new fiscal year, reporting a Q1 FY 2026-27 PAT of Rs 2,002 crore.
Why this matters
The record-breaking numbers were supported by peak operational performance. NALCO achieved highest-ever levels for bauxite excavation (77.01 LT), calcined alumina production (22.75 LT), and aluminium cast metal (4.72 LT). This production efficiency translated into record sales for total alumina and aluminium metal, reinforcing the company's market position.
Expansion Plans
NALCO is aggressively scaling its capacity through several key projects:
- 5th Stream Alumina Refinery: Pre-commissioning activities for the 1 MTPA plant began in June 2026.
- Brownfield Smelter Expansion: NALCO has signed a technology agreement with EGA for the 0.5 MTPA expansion.
- New Smelter Power: Pre-project work for a 1080 MW captive power plant is currently underway.
- Pottangi Bauxite Mines: MDO is appointed, though site progress faces delays from local agitation.
Risks to watch
Investors should monitor the timeline of the Pottangi Bauxite Mines, where approach road development is currently stalled. Additionally, the joint venture project UADNL (with MIDHANI) is currently on hold, signaling potential headwinds in that specific diversification effort.
Context metrics
NALCO’s commitment to shareholder returns remains evident with a dividend payout of Rs 2,020 crore for FY 2025-26, a 10% increase year-on-year. Furthermore, the company has ramped up its capital expenditure by 48% to Rs 2,068 crore, signaling confidence in long-term infrastructure investment.