National Aluminium Company Ltd

- Alumina sales guidance for full year is around 12.5 to 13 lakh tons, with 7 lakh tons done in H1 and 6 to 6.5 lakh tons planned for H2. - Alumina production increased by 31% in H1 versus last year, aiding sales growth. - Metal production expected around 4.7 lakh tons for full year, with sales matching production (~2.26 lakh tons in H1). - Refinery expansion of 1 million tons planned for commissioning by June 2026, targeting incremental 5 lakh tons of alumina sales in FY27 with full ramp-up in FY28. - Smelter expansion planned to add 5 lakh tons capacity by 2030. - Revenue growth driven by volume increases and improved pricing, e.g., aluminum realizations increased by INR18,000 per ton in Q2. - Employee cost expected to decline slightly due to retirements and lower average salary scale. - Power and fuel cost efficiencies and increased captive coal production to aid cost management.

- NALCO expects continued volume growth with alumina production increased by 31% in H1 FY26 and plans to commission a 1 million ton refinery expansion by June 2026, raising total capacity to 3.1 million tons. - The company targets alumina sales of around 12.5 to 13 lakh tons for the full year, with H2 sales around 6-6.5 lakh tons. - Aluminium production is planned at around 4.7 lakh tons for the full year, with metal sales expected to match production. - Operating efficiencies, including reduced consumption of major inputs like caustic soda, are projected to sustain cost improvements. - Employee costs expected to decline due to retirements and hiring at lower salary scales. - Power and fuel costs anticipated to moderate further with increased captive coal production and removal of coal cess. - Profit growth supported by volume increase, pricing improvements (notably aluminum prices), and cost controls. - Overall robust future earnings growth is expected driven by capacity expansions, efficiency gains, and market conditions.

The provided pages of the National Aluminium Company Limited (NALCO) document do not contain specific information about the current or expected order book or pending orders. The discussion primarily revolves around operational metrics such as alumina production and sales, employee costs, refinery expansion status, captive power usage, coal procurement, and project timelines. Therefore, based on the provided content: - No explicit details on current or expected orderbook or pending orders are mentioned. - Focus is on production volumes, sales guidance, cost management, and project execution updates. - Key ongoing projects include refinery expansion (targeted commissioning June 2026) and Pottangi bauxite mine development (targeted start June 2026). - Emphasis on alumina and aluminum sales projections and inventory status. For precise orderbook details, further sections or official company reports beyond this excerpt would be required.

- As of November 7, 2025, NALCO has no immediate plans for external fundraising through debt or equity. - The company has sufficient cash and equivalents (~INR 7,900 crores as of September 2025), with projected cash balance exceeding INR 20,000 crores with ongoing profits. - Two models for future capex financing are being evaluated: - EPC mode for smelter and power, requiring an external fund infusion of around INR 5,000-6,000 crores by FY '27-'28 or '28-'29. - EPC on smelter with 50% JV for power, potentially requiring no external financing. - Large capex plans for smelter and power (total ~INR 30,000 crores) are planned for 2027 onward, with DPR preparation ongoing in 2025 to enable board approval and tendering by March 2027. - Current refinery expansion capped at INR 5,000+ crores is mostly internally funded.

- Alumina refinery expansion: INR 4,500 crores spent till date; project 80% physically complete; commissioning expected by June 2026; total capex around INR 5,000-5,300 crores; balance INR 600-700 crores expected in H2 FY ’26 and FY ’27 to close the project. - Smelter and power expansion plan: DPR preparation ongoing, targeted completion by June-July 2026; tendering to complete by March 2027; commissioning expected around end of 2030; total combined capex estimated at INR 30,000 crores (smelter INR 17,000-20,000 crores, power INR 10,000-11,000 crores). - Bauxite mine expansion: Pottangi mine MDO appointment ongoing, targeted production start by June 2026; alternate bauxite sourcing conveyor (30 lakh tons/year capacity) to commission by April-May 2026 as backup. - Focus on captive coal production ramp-up, targeting 4 million tons annually in FY ’26 (up from 2.6-2.7 million tons last year). - Overall strategy: robust expansion with refinery, smelter, and power projects, backed by internal cash generation, reducing dependency on external financing.