NLC India Ltd

Q2 FY27Power

NLC India Q2 Results 2026 (FY27): Revenue ₹4,732.35 Cr

Q2 FY27 results statement: what the company reported on revenue, margins and capex.

Price₹248

Market cap₹34.5K Cr

P/E10.8

Updated4 Nov 2026

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NLC India Ltd Q2 FY27 key numbers

Revenue: Revenue from Operations for the quarter ended 30th September 2026 (Consolidated): ₹4,732.35 Crore.

As stated in NLC India Ltd's Q2 FY27 results statement · published 4 Nov 2026. Reported figures, not investment advice.

Based on NLC India Ltd's Q2 FY27 results statement. The company has not published an earnings-call transcript for this quarter, so figures here are what the results statement reports, not management guidance.

The short version

Revenue from Operations for the quarter ended 30th September 2026 (Consolidated): ₹4,732.35 Crore. EBITDA (Profit before Exceptional Items, Tax & Rate Regulatory Activity) for Q2 Sept 30, 2026: INR 295.95 Crore, down from INR 731.00 Crore in Q2 Sept 30, 2025 (≈ -59.5% YoY).

From NLC India Ltd's Q2 FY27 earnings-call transcript · updated 4 Nov 2026.

How did NLC India's revenue grow in the September 2026 quarter?

Revenue from Operations for the quarter ended 30th September 2026 (Consolidated): ₹4,732.35 Crore
Revenue from Operations for the quarter ended 30th September 2025 (Consolidated): ₹4,178.41 Crore
Year-on-year increase in Revenue from Operations: ₹553.94 Crore (~13.25% increase)
Revenue from Operations for the quarter ended 30th September 2026 (Standalone): ₹2,690.88 Crore

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What happened to NLC India's margins in Q2 FY27?

- **EBITDA (Profit before Exceptional Items, Tax & Rate Regulatory Activity)** for Q2 Sept 30, 2026: INR 295.95 Crore, down from INR 731.00 Crore in Q2 Sept 30, 2025 (≈ -59.5% YoY). - **Operating Margin** (EBITDA / Revenue from Operations, including regulatory deferral balances): 16.49% in Q2 Sept 30, 2026 vs. 23.86% in Q2 Sept 30, 2025 (≈ -7.37 percentage points YoY). - **Profit After Tax (PAT)**: INR 1,328.01 Crore in Q2 Sept 30, 2026 vs. INR 724.80 Crore in Q2 Sept 30, 2025 (≈ +83.3% YoY). These figures are from the consolidated results as reported in the presentation.

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What capex is NLC India planning?

The presentation mentions the following capex, capacity expansion, or new projects: - Fund raising through issuance of bonds (debentures) up to Rs. 2,500 Crore in phases, for general requirements including capacity expansion (Page 3). - Capital work-in-progress amounts to Rs. 4,987.82 Crore as of 30-09-2026, indicating ongoing investments (Page 8).

Property, plant and equipment purchase amounted to Rs. 3,895.33 Crore in the half year ended 30-09-2026 (Page 18).
Several subsidiaries and step-down subsidiaries are engaged in renewable energy projects (Page 16), e.g., NIRL Rajasthan Renewables Limited (74% shareholding), NIRL NCRTC Renewables Limited (74%), NIRL OREDA Renewables Limited (51%), and NIRL PTC Renewables Limited (74%), suggesting investments in renewable plant capacities.

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Top-ranked in Power

Ranked on what management guided this quarter

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Is NLC India raising money or cutting debt?

The presentation mentions a fund raising plan through issuance of bonds (debentures) up to Rs. 2,500 Crore via private placement (Page 3, Annexure II).
The bonds are proposed to be listed on BSE and NSE; tenure, coupon, security, and other terms will be decided at the time of each tranche (Page 3).
All interest payments and redemption amounts on existing debt securities have been duly made within stipulated timelines, with no defaults (Page 32).
Statement of compliance confirms no breach in covenants for both secured and unsecured listed debt securities as of September 30, 2026 (Pages 27, 31).

Paid-up debt capital stood at Rs. 28,157.92 Crore (consolidated) and Rs. 9,120.93 Crore (standalone) as of the quarter ended 30 September 2026, indicating the existing borrowing levels (Pages 13 and 5).
Cash flow statements show net changes in borrowings for the half-year ended September 30, 2026 (consolidated long-term borrowings increased by Rs. 613.60 Crore, short-term borrowings decreased by Rs. 257.62 Crore) (Page 18).

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How big is NLC India's order book?

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NLC India Ltd — Quarterly revenue & net profit

Revenue Net profit

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Jun 2026Q1 FY27

Q2 FY27 figures are not in this chart yet. Latest shown: Jun 2026 (Q1 FY27). The Q2 FY27 numbers from the filing are in the analysis on this page.

Reported quarterly figures (₹ Cr). Latest (Q1 FY27): revenue ₹4.7K Cr, net profit ₹436 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What NLC India Ltd's management said in earlier quarters

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Surana Telecom (Q2 FY27)
Standalone Revenue from Operations for Q2 FY 2026-27 (Quarter ended 30.09.2026):** ₹100.98 lakhs . Key results statement takeaways from Surana Telecom and Power
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Q2 FY27 Revenue from Operations: ₹7,277 million, up 37% YoY from ₹5,306 million in Q2 FY26 (Page 9). Key investor presentation takeaways from Clean Max Enviro E
PTC India (Q2 FY27)
Q2 FY2027 Operational Income: ₹133.90 Crs, slightly down from ₹136.91 Crs in Q2 FY2026. Key investor presentation takeaways from PTC India Ltd's Q2 FY27 investo

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Frequently Asked Questions

What were NLC India Ltd Q2 FY27 results?

What is NLC India Ltd share price analysis?

NLC India Ltd currently shows a neutral. The stock trades at a P/E of 10.8 with a market cap of ₹34,453 Cr. Investors should review the full earnings analysis for detailed insights.

Is NLC India Ltd planning capital expenditure?

The presentation mentions the following capex, capacity expansion, or new projects:.

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This analysis is AI-generated based on publicly available earnings data and the company's results statement. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.

NLC India Q2 Results 2026 (FY27): Revenue ₹4,732.35 Cr

Guidance rank: #10 of 23 in Power

NLC India Ltd Q2 FY27 key numbers

How did NLC India's revenue grow in the September 2026 quarter?

What happened to NLC India's margins in Q2 FY27?

What capex is NLC India planning?

Top-ranked in Power

Is NLC India raising money or cutting debt?

How big is NLC India's order book?

NLC India Ltd — Quarterly revenue & net profit

What NLC India Ltd's management said in earlier quarters

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Frequently Asked Questions

Guidance rank: #10 of 23 in Power

NLC India Ltd Q2 FY27 key numbers

How did NLC India's revenue grow in the September 2026 quarter?

What happened to NLC India's margins in Q2 FY27?

What capex is NLC India planning?

Top-ranked in Power

Is NLC India raising money or cutting debt?

How big is NLC India's order book?

NLC India Ltd — Quarterly revenue & net profit

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What NLC India Ltd's management said in earlier quarters

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