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NLC India Ltd Q2 FY27 results are out (Jul–Sep 2026) →Revenue ₹4,732 Cr +13.3% YoYSee revenue, profit and what management said. You are viewing Q4 FY26.
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NLC India Ltd

Q4 FY26Power

NLC India Q4 FY26: Capex ₹19,722 Cr

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

Revenue
₹5,042Cr
+31.4% YoY
+13.5% QoQ
Net profit
₹1,481Cr
+216.5% YoY
+104.6% QoQ
Margin
35%
+13 pp YoY
+5 pp QoQ

NLC India Ltd Q4 FY26 key numbers

Revenue
Mining: Pachwara South Coal Block to produce over 2 million metric tons coal in FY '27; Talabira mine targeting 20 million metric tons production.

As stated in NLC India Ltd's Q4 FY26 earnings call transcript · published 24 Sept 2026. Reported figures, not investment advice.

Price₹253
Market cap₹35.1K Cr
P/E11.0

The short version

FY '27 revenue projected at ₹25,300 Cr, up from ₹17,500 Cr in FY '26, driven by increased production/generation across mining, thermal, and renewables. Revenue expected to grow from ₹17,490 Cr in FY '26 to approximately ₹25,300 Cr in FY '27, driven by increased mining, thermal, and 1 GW solar additions.

From NLC India Ltd's Q4 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Good growth
  • FY '27 revenue projected at ₹25,300 Cr, up from ₹17,500 Cr in FY '26, driven by increased production/generation across mining, thermal, and renewables.
  • Mining: Pachwara South Coal Block to produce over 2 million metric tons coal in FY '27; Talabira mine targeting 20 million metric tons production.
  • Thermal: Ghatampur Thermal Power Station Unit III nearing commercial operation, making entire 1980 MW operational, boosting generation.
  • Renewables: Around 1 GW solar capacity addition expected in FY '27, with existing projects like Khavda solar park adding more capacity.
  • Overall capacity target: 10 GW each of thermal and renewable power by 2030, aiming for 50:50 thermal to renewable mix.

2 more points from NLC India Ltd's call on revenue

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Profitability & Margins

Revenue expected to grow from ₹17,490 Cr in FY '26 to approximately ₹25,300 Cr in FY '27, driven by…

Locked: what NLC India Ltd said on margins

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Capital Expenditure Plans

Capex planned
  • FY 2025-26 CapEx Plan: ₹19,722 crores for power, ₹1,490 crores for mining, ₹2,388 crores for renewables; total ₹23,600 crores including JVs (Page 24).
  • Projects under construction and planning include 5,800 MW renewables with assured land and transmission (Page 24).
  • Battery Energy Storage Systems orders: 500 MWh (Tamil Nadu), 1,800 MWh (SECI), 500 MWh (Punjab); target completion within 18 months (Page 21).
  • Thermal projects: Ghatampur Unit III commissioning soon; activities ongoing at Talabira, NTPL, NNTPS; Odisha TPS Phase I (2,400 MW) under construction; Phase II (800 MW) and TPS-II expansion tendering ongoing (Page 9, 18, 23).
  • Critical Minerals: Two blocks in Chhattisgarh acquired; exploration and processing with ISM Dhanbad collaboration (Page 12, 23).

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

Guidance-ranked
1Insolation Ener
Rev 1Mar 1
2ACME Solar Holdings
Rev 1Mar 3
3
Rev 2Mar 3
4
Rev 2Mar 3
5
Rev 2Mar 3
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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

NLC India Limited plans significant capital expenditure: ₹23,600 crores for FY 2026-27 (₹19,722 cr for…

Locked: what NLC India Ltd said on fundraising

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Order Book & Pipeline

  • Battery energy storage system orders:
  • Tamil Nadu government: 500 MW hour (contract awarded)
  • SECI: 1,800 MW hour (PPA yet to be signed)
  • Punjab government: 500 MW hour (in progress)
  • Other project tenders under process:
  • TPS-II second expansion (800 MW)
  • Rajasthan Thermal (375 MW)
  • Odisha Pumped Storage (750 MW; DPR under preparation)
  • Renewables competitive bidding: Approximately 2,000 MW
  • Critical minerals blocks secured through auctions:
  • Two blocks in Chhattisgarh (phosphorite and limestone)

2 more points from NLC India Ltd's call on order book

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What the Q4 FY26 call signalled

3 of 4 strong

RevenueGood growth
MarginMargins steady
CapexCapex planned
FundraiseFundraise planned

NLC India Ltd — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

NLC India Ltd Q4 FY26 results — key figures

NLC India Ltd Q4 FY26 reported results vs Q4 FY25, ₹ crore
₹ CrQ4 FY26Q4 FY25YoYQ3 FY26QoQ
Revenue5,0423,836+31.4%4,443+13.5%
Operating profit (EBITDA)1,774861+106%1,344+32%
Operating margin35%22%+13 pp30%+5 pp
Profit before tax1,518912+66.4%843+80.1%
Net profit (PAT)1,481468+216.5%724+104.6%
EPS (₹)10.053.48+188.8%4.80+109.4%

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.

Full financials →

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What NLC India's management said in earlier quarters

Earlier calls (8)

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Frequently Asked Questions

What were NLC India Ltd Q4 FY26 results?

FY '27 revenue projected at ₹25,300 Cr, up from ₹17,500 Cr in FY '26, driven by increased production/generation across mining, thermal, and renewables. Revenue expected to grow from ₹17,490 Cr in FY '26 to approximately ₹25,300 Cr in FY '27, driven by increased mining, thermal, and 1 GW solar additions.

What is NLC India Ltd share price analysis?

NLC India Ltd currently shows a moderate growth signal based on ranking data. 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?

FY 2025-26 CapEx Plan: ₹19,722 crores for power, ₹1,490 crores for mining, ₹2,388 crores for renewables; total ₹23,600 crores including JVs (Page 24).

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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.