National Aluminium Company Limited (NATIONALUM) — Financial Results

📢 Key Event
National Aluminium Company Limited reported FY26 growth with revenue of ₹17,843 crores (+6.28% YoY), EBITDA of ₹8,613 crores (+8.72%), PAT of ₹5,816 crores (+9.22%), and PBT of ₹7,767 crores (+8.86%).

🔄 What Changed
Revenue grew 6.28% YoY to ₹17,843 crores; PAT grew 9.22% to ₹5,816 crores; alumina sales grew 30.74% to 13.09 lakh tons; coal production rose 41.84% to 4.184 MT; wind power generation increased 9.25%. Employee costs fell 18% YoY to ₹1,721 crores in FY26 due to retirements, with a projected Rs 2,000 crore estimate for FY28 despite a 10-15% increase from pay commission revisions.

🔮 What's Next
Capex of Rs 18,000 crores planned for a new 0.5 MT smelter starting FY27, with peak spending in FY28-FY30; employee costs estimated at Rs 2,000 crores in FY28; alumina prices expected to average $300-$310; export share remains at 85-90% of sales; 5th alumina stream to be commissioned in June with 2-3.5 lakh tons capacity; wire rod mill and rolling plant upgrades underway.

💡 Investor Takeaway
Shareholders should note that while alumina prices are expected to decline, cost efficiencies and volume growth are expected to stabilize margins, with significant capex planned for smelter expansion and capacity increases through FY30.

National Aluminium Company Limited reported robust FY26 growth with revenue of ₹17,843 crores (+6.28% YoY), EBITDA of ₹8,613 crores (+8.72%), PAT of ₹5,816 crores (+9.22%), and PBT of ₹7,767 crores (+8.86%). Alumina sales surged 30.74% to 13.09 lakh tons, while aluminium sales grew 2.8%. Record production across bauxite, alumina, calcined alumina, metal, power, and wind generation drove performance. Management highlighted stable LME-linked premium pricing, export focus (85-90% of sales), and plans for a 5th alumina stream and wire rod mill. Capex of Rs 18,000 crores is slated for a new 0.5 MT smelter starting FY27, with peak spending in FY28-FY30. Employee costs fell 18% YoY to Rs 1,721 crores in FY26 due to retirements, with a projected Rs 2,000 crore estimate for FY28 despite a 10-15% increase from pay commission revisions. Alumina prices are expected to average $300-$310, down from $376, but margins are expected to remain stable or improve due to cost efficiencies and volume growth.

📄 View Original Announcement (PDF)

📊 Stock Analysis — NATIONALUM ✨ Ask AI About This