National Aluminium Company Ltd
National Aluminium Company Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #4 of 7 in Non - Ferrous Metals
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The short version
Alumina sales volume target for FY26 remains around 1.25 to 1.3 million tons, with efforts to make up for January export setbacks in February-March. Capex for FY '26-'27 is expected to be Rs.
From National Aluminium Company Ltd's Q3 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Alumina sales volume target for FY26 remains around 1.25 to 1.3 million tons, with efforts to make up for January export setbacks in February-March.
- Alumina production is expected to increase by approximately 200,000 to 250,000 tons year-on-year.
- Metal production aimed at 470,000 to 472,000 tons, slightly above rated capacity, with potential to increase further if quality scrap sourcing improves.
- Refinery commissioning to start mid-2026 with phased capacity ramp-up reaching 60% by September-October and full capacity by December; realistic production in FY26-27 around 300,000 tons.
- Continued focus on volume growth and operational efficiencies to support revenue increase despite commodity price volatility.
2 more points from National Aluminium Company Ltd's call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- Capex for FY 2025-26 is around Rs. 1,700 crores.
- For FY 2026-27, targeted capex is Rs. 1,800 crores to Rs. 2,000 crores, with an increase expected from FY 2027-28 onwards.
- Around Rs. 600-700 crores in FY 2025-26 allocated for Maintenance and Replacement (MR) projects; the rest for growth projects.
- Refinery expansion (1 million tons capacity) ongoing: Rs. 5,000 crores spent so far, with Rs. 500-600 crores expected in FY 2026-27.
- Commissioning of the refinery expected mid-2026; full capacity likely by December 2026.
2 more points from National Aluminium Company Ltd's call on capex
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Top-ranked in Non - Ferrous Metals
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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National Aluminium Company Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹5.0K Cr, net profit ₹1.7K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What National Aluminium Company Ltd's management said in earlier quarters
Others in Non - Ferrous Metals this season
- MMP Industries Ltd (Q3 FY26)
Q3FY26 Revenue from Operations: Rs 203.3 Cr, up 20.8% YoY (Q3FY25: Rs 168.4 Cr) [Page 9] . Key concall takeaways from MMP Industries Ltd's Q3 FY26 earnings…
- Hindustan Zinc Ltd (Q3 FY26)
Hedging strategy will maintain 10-20% volume coverage for price risk management, supporting stable revenue. Key concall takeaways from Hindustan Zinc Ltd's Q3…
- Hindalco Inds. (Q3 FY26)
11% volume decline seen in Novelis in Q3; Q4 typically a peak volume quarter but impact of Oswego will persist. Key concall takeaways from Hindalco Industries…
- Maan Aluminium Ltd (Q3 FY26)
Maan Aluminium has planned a cumulative capex of approximately INR 190+ crores over the next 3 years. Key concall takeaways from Maan Aluminium Ltd's Q3 FY26…
Potential multibaggers · Q2 FY27
Potential multibaggers in Non - Ferrous Metals
on management's own guidance
- Hindustan Zinc LtdGood growth2
- Dec.Gold MinesGood growth1
- Hindalco Inds.Good growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were National Aluminium Company Ltd Q3 FY26 results?
Alumina sales volume target for FY26 remains around 1.25 to 1.3 million tons, with efforts to make up for January export setbacks in February-March. Capex for FY '26-'27 is expected to be Rs.
What is National Aluminium Company Ltd share price analysis?
National Aluminium Company Ltd currently shows a neutral. The stock trades at a P/E of 10.4 with a market cap of ₹69,976 Cr. Investors should review the full earnings analysis for detailed insights.
Is National Aluminium Company Ltd planning capital expenditure?
Capex for FY 2025-26 is around Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.