New Delhi, May 14: NLC India Limited (NLCIL) delivered a record-breaking performance in FY 2025-26, achieving its highest-ever production, revenue, and profitability since inception, supported by capacity expansion and a growing renewable energy portfolio.
Operational Milestones and Capacity Expansion
The company recorded its highest annual coal production at 19.14 million tonnes (MT) and dispatch of 17.69 MT from Talabira II & III open cast projects. Renewable energy generation also reached 2.26 billion units (BU), reflecting NLCIL’s increasing focus on clean energy.
During the year, NLCIL added 1,013 MW of capacity, including 660 MW thermal power (GTPP Unit 2) and 303 MW renewable capacity, comprising a 300 MW solar project in Rajasthan and rooftop installations across multiple locations.
Additionally, the Pachwara South coal mine (9 MTPA capacity) commenced production in March 2026, strengthening the company’s fuel security pipeline.
Strategic Developments and Investments
The company reported its highest-ever capital expenditure of over ₹9,131 crore. It also secured key regulatory approvals for new mining projects, including Patrapara South and Machhakata coal blocks.
In the renewable segment, its arm NLC India Renewables Limited (NIRL) received a Letter of Award from the Solar Energy Corporation of India for developing 600 MW solar capacity coupled with a 300 MW/1800 MWh energy storage system.
As part of asset monetisation, NLCIL transferred 1.4 GW of operational renewable assets to NIRL and received government approval for listing NIRL through a public offering, including partial stake dilution.
The company also secured approval to form a joint venture with the National Capital Region Transport Corporation to develop 100 MW renewable projects in Uttar Pradesh. Further, it obtained exploration licences in Chhattisgarh for phosphorite and limestone blocks.
To support funding requirements, NLCIL tied up €100 million in external commercial borrowings from Germany’s KfW.
Financial Performance – Standalone
On a standalone basis, revenue from operations rose 5.62% year-on-year to ₹10,864 crore. Profit after tax (PAT) increased 32.9% to ₹2,525 crore, while EBITDA grew 4.54% to ₹5,006 crore.
Net worth strengthened to ₹19,270 crore, up 10.33% from the previous year. The company declared an interim dividend of ₹3.60 per share and recommended a final dividend of ₹0.25 per share, subject to shareholder approval.
Group Performance and Record Earnings
At the group level, NLCIL reported all-time high revenue of ₹17,490 crore, marking a 14.44% increase year-on-year. PAT surged 38.91% to ₹3,769 crore, while EBITDA rose 14.78% to ₹7,475 crore.
Gross power generation stood at 28.95 BU, including renewable generation of 2.26 BU. Net worth increased to ₹21,525 crore, up nearly 15% year-on-year.
The company also achieved 100% collection efficiency from power sector receivables, underscoring strong financial discipline.
Market Performance
Reflecting investor confidence, NLCIL shares touched an all-time high of ₹336.50 on the NSE on May 11, 2026, with market capitalisation exceeding ₹46,660 crore.
Outlook
NLCIL’s FY26 performance highlights its strategic transition toward a diversified energy portfolio, balancing thermal capacity with aggressive renewable expansion, while maintaining strong financial and operational momentum.
