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National Aluminium Company Q1 FY27 Share Price & Earnings Call Analysis

₹323.50+0.00% today
Market cap
₹59,491 Cr
P/E
8.81
ROE
29.42%
PEG
0.17
Price to sales
3.06
Debt to equity
0.00
52W high / low
₹442 / ₹231
Sales growth (5Y)
14.78%
EBITDA margin
47.33%
Net profit margin
32.49%
Promoter holding
51.28%
Sales (last year)
₹19,338 Cr

Incorporated in 1981, National Aluminium Company Limited (NALCO) manufactures and sells Alumina and Aluminium[1]

Guidance scorecard · Q1 FY27 call

What National Aluminium Company Ltd's management guided
and where it ranks in Non - Ferrous Metals

#4of 7 in
Non - Ferrous Metals
Revenue20–40%MarginsFlatCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

20–40%
  • Alumina capacity is expected to increase from current 2.1 million tons to around 3.1 million tons after expansion, targeting 3.2 - 3.3 million tons production by FY27-28.
  • Alumina sales volume is planned to rise from 14 lakh tons last year to 16 lakh tons in FY27.
  • Aluminum smelter capacity currently at 4.6 lakh tons, with production exceeding capacity (4.72 lakh tons last year, expected 4.75 lakh tons this year).
  • Brownfield growth in aluminum production is possible, slightly above 4.6 lakh tons.
  • Captive coal production targeted at 4.8 million tons for FY27, supporting power and smelter operations.

2 more points from National Aluminium Company Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what National Aluminium Company Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Smelter expansion capex planned around INR4,000-5,000 crores per annum starting FY28, peaking in FY29-FY31.
  • Power plant (1080 MW) being developed via 50:50 JV with NLC, total cost ~INR12,000 crores; NALCO equity share ~INR3,500 crores funded through 30:70 debt-equity.
  • New 0.5 million ton smelter plant with associated 1,000 MW power plant targeted for completion by Dec 2030; overall capex ~INR25,000 crores starting FY27-28.
  • Alumina refinery 5th stream expansion (~1 million ton) capex ~INR5,600 crores funded through internal accruals, no interest burden.
  • Regular annual capex around INR1,500-1,800 crores for maintenance and smaller projects in FY27.

2 more points from National Aluminium Company Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what National Aluminium Company Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what National Aluminium Company Ltd said on the order book →

Full Q1 FY27 analysis
Full Non - Ferrous Metals ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Non - Ferrous Metals
on management's own guidance

  1. Hindustan Zinc LtdGood growth
    2
  2. Dec.Gold MinesGood growth
    1
  3. Hindalco Inds.Good growth
    3
See all potential multibaggersWhere does National Aluminium Company Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Non - Ferrous Metals companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Dec.Gold Mines20–40%Up 0–2%₹3,781 Cr—
2Hindustan Zinc Ltd20–40%Flat₹2.18L Cr12.9
3Hindalco Inds.20–40%Flat₹2.04L Cr9.8
4Natl. AluminiumThis stock20–40%Flat₹59,553 Cr8.8
520–40%Flat₹611 Cr22.9
610–20%Up 2%+₹1,249 Cr28.0

Sign up free to see every company in the sector ranking and track National Aluminium Company Ltd.

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National Aluminium Company Ltd announcements

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Financials of National Aluminium Company Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of National Aluminium Company Ltd

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +3,6713,1793,0433,3483,5792,8564,0014,6625,2683,8074,2924,7315,013
Expenses +2,9312,6002,6662,5922,4911,9352,4692,3512,5252,3292,3702,5582,663
Operating Profit7405793787561,0889211,5332,3112,7431,4781,9232,1732,349
OPM %20%18%12%23%30%32%38%50%52%39%45%46%47%
Other Income +55486950511617299126124151194202
Interest12429341932886024
Depreciation25517018615424017418028688178174182211
Profit before tax5394552566501,3508041,4202,1052,7481,4151,8922,1262,316
Tax %8%27%27%28%26%27%26%26%25%26%24%25%26%
Net Profit +4953341874719975881,0461,5662,0671,0491,4301,5951,722
EPS in Rs2.701.821.022.565.433.205.708.5311.265.717.798.699.38

Financials of National Aluminium Company Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +7,3836,8177,5439,50911,4998,4728,95614,18114,25713,14916,78817,843
Expenses +5,5105,8586,4648,1138,6077,9857,1749,66511,91710,3489,2809,915
Operating Profit1,8739591,0791,3972,8934871,7824,5162,3402,8017,5087,928
OPM %25%14%14%15%25%6%20%32%16%21%45%44%
Other Income +8216593681,124327273147298234678357666
Interest16733226723131759100
Depreciation414426480480476530606837716750728745
Profit before tax2,1131,1899642,0392,7412241,3163,9541,8452,7127,0787,749
Tax %37%34%31%34%37%39%1%25%22%27%26%25%
Net Profit +1,3227876681,3421,7341361,2992,9511,4351,9885,2685,797
EPS in Rs5.133.053.456.949.290.737.0716.077.8110.8328.6831.56
Dividend Payout %34%65%81%82%62%205%49%40%58%46%37%33%

Financials of National Aluminium Company Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,2891,289966966933933918918918918918918
Reserves11,50911,9069,2399,5379,5529,0549,76111,63412,20813,47016,88720,685
Borrowings +0051456712102771059618260
Other Liabilities +3,3803,5154,2454,0644,5964,5493,9284,6464,3964,7514,8954,881
Total Liabilities16,17816,71014,50114,61315,14714,54814,70917,27617,62719,23522,88226,544
Fixed Assets +6,6456,5967,1447,1397,2867,4857,6607,3437,3037,3837,7487,650
CWIP5506885669158831,4271,5752,2353,2694,5734,9366,296
Investments9501,0111,260710257331560375359342774533
Other Assets +8,0328,4165,5315,8496,7225,3064,9137,3226,6966,9389,42412,065
Total Assets16,17816,71014,50114,61315,14714,54814,70917,27617,62719,23522,88226,544

Financials of National Aluminium Company Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +5208811,4361,5902,409-3492,1993,9589082,7195,8066,438
Cash from Investing Activity +5663141,550-490-532873-1,404-2,619-334-2,000-3,971-4,200
Cash from Financing Activity +-506-544-3,616-1,100-1,731-677-601-1,140-924-739-1,758-2,206
Net Cash Flow580651-6301146-153195199-350-207832
Free Cash Flow2173306747651,649-1,1959922,685-6171,0754,6414,413
CFO/OP54%129%153%148%119%-51%129%104%71%120%100%105%

Financials of National Aluminium Company Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days61391086622444
Inventory Days411352389288231463411324213252353261
Days Payable155213284232245211262287146206137114
Cash Conversion Cycle26215111466-7258156396950221152
Working Capital Days810-24-11-28-911-1046-7-0
ROCE %9%9%11%26%2%13%34%14%17%44%40%

Guidance history

How National Aluminium Company Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →20–40%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlanned——
Q2 FY26 call →10–20%FlatPlannedNone planned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

25out of 100

Momentum score · price trend

25 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months+35.9%80%
Last 6 months−19.0%20%
Last 3 months−6.9%49%

The price is 26.7% below its all-time high of ₹441.5 (28 Apr 2026). Stocks more than 20% below their peak have their score halved, so 50 became 25.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For National Aluminium Company Ltd: 0.4 × 80 + 0.4 × 20 + 0.2 × 49 = 50, halved to 25 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What National Aluminium Company Ltd's management said in earlier quarters

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