Bhubaneswar: National Aluminium Company Limited (NALCO), a Navratna PSU under the Government of India, reported its standalone and consolidated unaudited results for the third quarter (Q3) ended December 31, 2025.
- Net Profit: ₹1,595 crore, up 1.8% YoY from ₹1,566 crore in Q3 FY25
- Revenue from Operations: ₹4,731 crore, up 1.5% YoY from ₹4,662 crore
- EBITDA: ₹2,182.3 crore, down 1.8% YoY
- EBITDA Margin: 46.1% compared with 47.7% a year ago
The results reflect steady revenue growth, though margins narrowed due to higher input costs and operational challenges.
Nine-Month FY26 Performance Shows Robust Growth
For the nine months ending December 31, 2025:
- Revenue: ₹12,830.23 crore
- Net Profit: ₹4,098.05 crore, up from ₹3,246.30 crore in 9M FY25
- EPS: ₹8.72 per share
NALCO’s sustained nine-month performance highlights operational resilience and consistent contributions from aluminium and chemicals segments.
Segment-Wise Performance
- Aluminium Segment: Revenue ₹3,461.50 crore; profit ₹1,582.41 crore
- Chemicals Segment: Revenue ₹1,656.78 crore; profit ₹512.94 crore
Aluminium continues to be the core revenue driver, accounting for the majority of profits, while chemicals contribute significant incremental revenue.
Dividend Declaration
The Board approved a second interim dividend of ₹4.50 per share (90% of face value ₹5) for FY26, with a record date of February 6, 2026, and payment scheduled on or before March 1, 2026. This follows the first interim dividend of ₹4 per share paid in December 2025.
The total payout for this interim dividend amounts to approximately ₹826.48 crore, reflecting NALCO’s commitment to rewarding shareholders.
Auditors’ Review and Key Notes
The Q3 FY26 results were reviewed by SRB & Associates and BM Chatrath & Co. LLP:
- Wind Power Plant Revenue: Not recognized due to pending PPA renewals in Rajasthan
- New Labour Code Impact: Gratuity accounted for; further financial impact will follow final notification of rules
NALCO Share Performance
Shares of NALCO closed at ₹382.95 per share on January 30, 2026, down 10.72% from the previous close of ₹428.95. The stock has a 52-week high of ₹431.60 and a low of ₹140, reflecting significant market volatility in recent months.
About NALCO
National Aluminium Company Limited (NALCO) is a Navratna public sector undertaking under the Government of India and one of the country’s leading integrated producers of aluminium and alumina. The company also operates in the chemicals and power sectors, contributing significantly to India’s industrial growth and energy security.
