NLC India Q2 FY26: Revenue ₹8,004.82 Cr, PAT ₹1,564 Cr
Q2 FY26 earnings call: what management said on revenue, margins and capex.
- Revenue
- ₹4,178Cr
- +14.2% YoY
- +9.2% QoQ
- Net profit
- ₹725Cr
- −26.2% YoY
- −13.6% QoQ
- Margin
- 34%
- +6 pp YoY
- +10 pp QoQ
Guidance rank: #8 of 24 in Power
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The short version
NLC India Limited targets a total income of ₹39,789 Crore and revenue close to ₹37,000 Crore by 2030. NLC India Limited targets total income of approximately ₹39,789 Crore by 2030.
From NLC India Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- NLC India Limited targets a total income of ₹39,789 Crore and revenue close to ₹37,000 Crore by 2030.
- Group revenue from operations grew 13.77% to ₹8,004.82 Crore in H1 2025-26.
- Renewable capacity expected to grow from 1.5 GW currently to over 10 GW by 2030, a 7x increase.
- Thermal capacity targeted to increase from 5,960 MW to 10,020 MW by 2030.
- Mining capacity planned to double from 50.1 million tons to 104.35 million tons by 2030.
- Annual capacity additions: about 350 MW renewable in current year, 800 MW next financial year, and subsequent adding ~1 GW yearly.
2 more points from NLC India Ltd's call on revenue
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Profitability & Margins
NLC India Limited targets total income of approximately ₹39,789 Crore by 2030.
Locked: what NLC India Ltd said on margins
Also locked on this page: fundraising
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Capital Expenditure Plans
- ₹1.1 Lakh Crore overall CAPEX planned progressively over the next 4-5 years.
- ₹23,000 Crore equity required; internal accruals expected around ₹12,000 Crore over four years.
- Asset monetisation underway via subsidiary NIRL, transferring assets worth ₹6,500-7,000 Crore; IPO expected in H1 next financial year.
- Renewable energy CAPEX of ₹22,000 Crore planned including 10 GW capacity addition by 2030.
- Thermal sector CAPEX around ₹50,000 Crore for capacity expansion including Talabira Stage-II (1x800 MW tender soon) and a preliminary thermal power project near Machhakata mine.
- Mining CAPEX of ₹14,000 Crore targeting expansion to 104.35 million ton capacity by 2030.
2 more points from NLC India Ltd's call on capex
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Top-ranked in Power
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
No immediate plans for fundraising through debt or equity as of now.
Locked: what NLC India Ltd said on fundraising
Also locked on this page: margins
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Order Book & Pipeline
- Talabira Thermal Stage-II: Environmental clearance applied; tender documents being prepared; tenders expected by Q4 of the current financial year.
- Rajasthan Thermal Plant: JV recently started; feasibility report in progress; expected by Q1 next year; planning 2x500 MW.
- BHEL: Order placed for Unit II of TPS II Expansion; delivery expected within 4-5 months to start modifications after complete supply.
- Wind Projects: Orders placed with INOX for 50 MW in Gujarat; recently won competitive bids for 200 MW and 150 MW from NTPC and SJVN.
2 more points from NLC India Ltd's call on order book
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NLC India Ltd — Quarterly revenue & net profit
NLC India Ltd Q2 FY26 results — key figures
| ₹ Cr | Q2 FY26 | Q2 FY25 | YoY | Q1 FY26 | QoQ |
|---|---|---|---|---|---|
| Revenue | 4,178 | 3,657 | +14.2% | 3,826 | +9.2% |
| Operating profit (EBITDA) | 1,400 | 1,013 | +38.2% | 935 | +49.7% |
| Operating margin | 34% | 28% | +6 pp | 24% | +10 pp |
| Profit before tax | 921 | 1,133 | -18.7% | 594 | +55.1% |
| Net profit (PAT) | 725 | 982 | -26.2% | 839 | -13.6% |
| EPS (₹) | 4.80 | 6.58 | -27.1% | 5.75 | -16.5% |
Source: reported quarterly figures (Screener), ₹ crore.
Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹4.7K Cr, net profit ₹1.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What NLC India's management said in earlier quarters
Others in Power this season
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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 NLC India Ltd Q2 FY26 results?
NLC India Limited targets a total income of ₹39,789 Crore and revenue close to ₹37,000 Crore by 2030. NLC India Limited targets total income of approximately ₹39,789 Crore by 2030.
What is NLC India Ltd share price analysis?
NLC India Ltd currently shows a neutral. The stock trades at a P/E of 10.9 with a market cap of ₹35,130 Cr. Investors should review the full earnings analysis for detailed insights.
Is NLC India Ltd planning capital expenditure?
₹1.1 Lakh Crore overall CAPEX planned progressively over the next 4-5 years.
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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.