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National Aluminium Company Ltd

Q4 FY26Non - Ferrous Metals

National Aluminium Company Q4 FY26: Capex ₹18,000 Cr

Q4 FY26 earnings call: what management said on revenue, margins and capex.

Price₹394
Market cap₹70.0K Cr
P/E10.4
Updated23 Aug 2026
Read3 min read

The short version

FY '27 alumina production targeted at around 25 lakh tons, a 2 lakh ton increase with the 5th stream refinery commissioning starting June, expected to ramp up over months. FY '26 saw record financial performance with PAT growth of ~9.22% to Rs.5,816 crores.

From National Aluminium Company Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • FY '27 alumina production targeted at around 25 lakh tons, a 2 lakh ton increase with the 5th stream refinery commissioning starting June, expected to ramp up over months.
  • Aluminium metal production targeted at 4.73 lakh tons in FY '27, slightly above previous year’s 4.71 lakh tons.
  • Alumina sales volume targeted for 2.5 to 3 lakh tons in the domestic market, increasing presence and long-term engagement with smelters.
  • Alumina export, previously 40-50% to Middle East, impacted by regional disruptions; diversification to other markets ongoing.
  • Overall growth in volumes aligned with capacity expansions, including alumina refinery and metal production.

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

  • FY '26-'27 capex target: ~Rs.2,000 crores.
  • FY '27-'28 capex expected: Rs.4,000 - Rs.5,000 crores.
  • Peak capex years: FY '28-'29 and FY '29-'30, Rs.7,000 - Rs.10,000 crores annually.
  • Total investment for aluminum smelter and power plant: ~Rs.30,000 crores.
  • JV with Neyveli Lignite Corporation for power plant with 50-50 partnership to ensure coal security; capex shared.
  • 5th stream alumina expansion (Rs.5,500 crores approx.) expected to be 100% capitalized in this year.
  • New 0.5 million ton aluminum smelter: DPR under preparation, ordering expected by April/May '27, commissioning by Dec 2030/early 2031.

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

Guidance-ranked
1Dec.Gold Mines
Rev 2Mar 2
2Hindustan Zinc Ltd
Rev 2Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 3Mar 1
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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

Revenue Net profit
Dec 2024Q3 FY25
Mar 2025Q4 FY25
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26

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

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Frequently Asked Questions

What were National Aluminium Company Ltd Q4 FY26 results?

FY '27 alumina production targeted at around 25 lakh tons, a 2 lakh ton increase with the 5th stream refinery commissioning starting June, expected to ramp up over months. FY '26 saw record financial performance with PAT growth of ~9.22% to Rs.5,816 crores.

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?

FY '26-'27 capex target: ~Rs.2,000 crores.

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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.