Reported Earnings • May 05
Full year 2026 earnings released: EPS: ₹31.56 (vs ₹28.68 in FY 2025) Full year 2026 results: EPS: ₹31.56 (up from ₹28.68 in FY 2025). Revenue: ₹185.1b (up 10% from FY 2025). Net income: ₹58.0b (up 10.0% from FY 2025). Profit margin: 31% (in line with FY 2025). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has increased by 71% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 02
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Apr 21
National Aluminium Company Limited to Report Q4, 2026 Results on Apr 30, 2026 National Aluminium Company Limited announced that they will report Q4, 2026 results on Apr 30, 2026 Price Target Changed • Apr 14
Price target increased by 7.8% to ₹379 Up from ₹352, the current price target is an average from 12 analysts. New target price is 9.2% below last closing price of ₹418. Stock is up 176% over the past year. The company is forecast to post earnings per share of ₹30.50 for next year compared to ₹28.68 last year. New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.6% average weekly change). New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.1% average weekly change). Reported Earnings • Jan 31
Third quarter 2026 earnings released: EPS: ₹8.69 (vs ₹8.53 in 3Q 2025) Third quarter 2026 results: EPS: ₹8.69 (up from ₹8.53 in 3Q 2025). Revenue: ₹49.3b (up 5.6% from 3Q 2025). Net income: ₹16.0b (up 1.8% from 3Q 2025). Profit margin: 32% (down from 34% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 30
National Aluminium Company Limited Approves Second Interim Dividend for the Financial Year 2025-26, Payable on or Before March 1, 2026 National Aluminium Company Limited at its Board of Directors meeting scheduled on January 31, 2026 approved payment of 2nd Interim dividend @ INR 4.50/- per share (90% on Face value of INR 5/- each) on the paid-up equity share capital of INR 9,183.2 million for the financial year 2025-26. The Company has fixed 06th February, 2026 as Record Date for payment of above 2nd Interim Dividend for the financial year 2025-26 to the eligible shareholders. The payment of 2nd interim dividend shall be made on or before March 1, 2026 to all eligible shareholders, whose names appear in the Register of Members and the beneficial owners position as downloaded by NSDL & CDSL as on Record Date. Valuation Update With 7 Day Price Move • Jan 29
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹429, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 506% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹173 per share. Announcement • Jan 19
National Aluminium Company Limited to Report Q3, 2026 Results on Jan 30, 2026 National Aluminium Company Limited announced that they will report Q3, 2026 results at 4:00 PM, Indian Standard Time on Jan 30, 2026 Price Target Changed • Jan 19
Price target increased by 7.2% to ₹314 Up from ₹293, the current price target is an average from 11 analysts. New target price is 15% below last closing price of ₹369. Stock is up 75% over the past year. The company is forecast to post earnings per share of ₹26.18 for next year compared to ₹28.68 last year. Price Target Changed • Jan 15
Price target increased by 9.4% to ₹311 Up from ₹284, the current price target is an average from 11 analysts. New target price is 17% below last closing price of ₹373. Stock is up 88% over the past year. The company is forecast to post earnings per share of ₹26.69 for next year compared to ₹28.68 last year. Price Target Changed • Jan 13
Price target increased by 7.6% to ₹299 Up from ₹278, the current price target is an average from 11 analysts. New target price is 16% below last closing price of ₹357. Stock is up 79% over the past year. The company is forecast to post earnings per share of ₹26.63 for next year compared to ₹28.68 last year. Announcement • Jan 06
National Aluminium Company Limited Appoints Anil Kumar Singh as Director (Commercial) on the Board National Aluminium Company Limited has announced that, vide Order dated January 5, 2026 of Ministry of Mines, Government of India, Shri Anil Kumar Singh (DIN: 11466071) has been appointed as Director (Commercial) on the Board of NALCO with effect from the date of appointment or taking over charge of the post till the date of his superannuation, September 30, 2028, or until further order, whichever is earlier, subject to outcome of OA No. 352/2025 before CAT Cuttack. Other details like his relation with any of the Director or Key Managerial Personnel of the Company, debarment from holding the office of Director by virtue of any SEBI order or any other such authority and brief profile will be intimated separately upon his assumption of charge as Director (Commercial) in the Company. Price Target Changed • Nov 15
Price target increased by 9.0% to ₹257 Up from ₹235, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ₹262. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹25.40 for next year compared to ₹28.68 last year. Reported Earnings • Nov 08
Second quarter 2026 earnings released: EPS: ₹7.79 (vs ₹5.70 in 2Q 2025) Second quarter 2026 results: EPS: ₹7.79 (up from ₹5.70 in 2Q 2025). Revenue: ₹44.4b (up 11% from 2Q 2025). Net income: ₹14.3b (up 37% from 2Q 2025). Profit margin: 32% (up from 26% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 51% per year whereas the company’s share price has increased by 47% per year. Announcement • Nov 07
National Aluminium Company Limited Approves Payment of First Interim Dividend, Payable on or Before December 6, 2025 National Aluminium Company Limited approved payment of 1st Interim dividend @ INR 4/- per share (80% on Face value of INR 5/- each) on the paid-up equity share capital of INR 918.32 crore for the financial year 2025-26. The Company has fixed Friday, the 14th November, 2025 as Record Date for payment of above 1st Interim Dividend for the financial year 2025-26 to the eligible shareholders. The payment of 1st interim dividend shall be made on or before December 6, 2025 to all eligible shareholders, whose names appear in the Register of Members as on Record Date. Announcement • Oct 27
National Aluminium Company Limited to Report Q2, 2026 Results on Nov 07, 2025 National Aluminium Company Limited announced that they will report Q2, 2026 results on Nov 07, 2025 Price Target Changed • Oct 12
Price target increased by 7.6% to ₹229 Up from ₹213, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ₹224. Stock is up 0.7% over the past year. The company is forecast to post earnings per share of ₹20.37 for next year compared to ₹28.68 last year. Price Target Changed • Oct 10
Price target increased by 7.3% to ₹226 Up from ₹211, the current price target is an average from 10 analysts. New target price is approximately in line with last closing price of ₹224. Stock is up 0.7% over the past year. The company is forecast to post earnings per share of ₹20.28 for next year compared to ₹28.68 last year. Upcoming Dividend • Sep 13
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 19 September 2025. Payment date: 26 October 2025. Payout ratio is a comfortable 34% and this is well supported by cash flows. Trailing yield: 4.8%. Within top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (2.7%). Declared Dividend • Aug 30
Dividend increased to ₹2.50 Dividend of ₹2.50 is 25% higher than last year. Ex-date: 19th September 2025 Payment date: 26th October 2025 Dividend yield will be 5.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (34% earnings payout ratio) and cash flows (42% cash payout ratio). The dividend has increased by an average of 21% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 31% over the next 3 years. However, it would need to fall by 63% to increase the payout ratio to a potentially unsustainable range. Announcement • Aug 28
National Aluminium Company Limited, Annual General Meeting, Sep 26, 2025 National Aluminium Company Limited, Annual General Meeting, Sep 26, 2025, at 11:00 Indian Standard Time. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹5.71 (vs ₹3.20 in 1Q 2025) First quarter 2026 results: EPS: ₹5.71 (up from ₹3.20 in 1Q 2025). Revenue: ₹39.3b (up 38% from 1Q 2025). Net income: ₹10.5b (up 78% from 1Q 2025). Profit margin: 27% (up from 21% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to stay flat during the next 3 years compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 37% per year whereas the company’s share price has increased by 33% per year. Buy Or Sell Opportunity • Aug 07
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 21% to ₹190. The fair value is estimated to be ₹158, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are forecast to decline by 8.0% per annum over the same time period. Announcement • Jul 30
National Aluminium Company Limited to Report Q1, 2026 Results on Aug 07, 2025 National Aluminium Company Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Buy Or Sell Opportunity • Jul 21
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 23% to ₹195. The fair value is estimated to be ₹161, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are forecast to decline by 8.0% per annum over the same time period. Buy Or Sell Opportunity • Jun 26
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to ₹194. The fair value is estimated to be ₹159, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are forecast to decline by 8.3% per annum over the same time period. Buy Or Sell Opportunity • Jun 10
Now 22% overvalued The stock has been flat over the last 90 days, currently trading at ₹192. The fair value is estimated to be ₹157, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 20%. For the next 3 years, revenue is forecast to grow by 2.1% per annum. Earnings are forecast to decline by 8.3% per annum over the same time period. Reported Earnings • May 22
Full year 2025 earnings released: EPS: ₹28.68 (vs ₹10.83 in FY 2024) Full year 2025 results: EPS: ₹28.68 (up from ₹10.83 in FY 2024). Revenue: ₹171.4b (up 30% from FY 2024). Net income: ₹52.7b (up 165% from FY 2024). Profit margin: 31% (up from 15% in FY 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 1.1% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 26% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 19
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 1.5% to ₹182. The fair value is estimated to be ₹151, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to decline by 6.0% in the next 2 years. Valuation Update With 7 Day Price Move • May 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹179, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 119% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹149 per share. Announcement • May 10
National Aluminium Company Limited to Report Q4, 2025 Results on May 21, 2025 National Aluminium Company Limited announced that they will report Q4, 2025 results on May 21, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹145, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 35% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹147 per share. Price Target Changed • Feb 15
Price target decreased by 10% to ₹229 Down from ₹255, the current price target is an average from 10 analysts. New target price is 26% above last closing price of ₹181. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹24.77 for next year compared to ₹10.83 last year. New Risk • Feb 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.1% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Announcement • Feb 12
National Aluminium Company Limited Announces Directorate Changes National Aluminium Company Limited informed that, the following Executives have been promoted as Executive Director (Senior Management) of the Company: Name: Shri Niranjan Samal, Reason for
change: Promotion as Executive Director, Brief profile: Shri Samal joined NALCO in year 1989 as Graduate Engineer Trainee(Chemical). Shri Samal holds degree in M.Tech (Chemical) and MBA(HRM). Prior to his promotion he was in the position of Group General Manager (AR). Name: Shri Mihir Ranjan Rath, Reason for change: Promotion as Executive Director, Brief profile: Shri Rath joined NALCO in year 1994 as Junior Manager (Finance). Shri Rath is graduate in Commerce and a Cost Accountant by Profession. He also holds degree in PGDSM. Prior to his promotion he was in the position of Group General Manager (Finance). Declared Dividend • Feb 12
Dividend increased to ₹4.00 Dividend of ₹4.00 is 100% higher than last year. Ex-date: 14th February 2025 Payment date: 10th March 2025 Dividend yield will be 5.3%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 5.2% over the next 2 years. However, it would need to fall by 51% to increase the payout ratio to a potentially unsustainable range. Reported Earnings • Feb 11
Third quarter 2025 earnings released: EPS: ₹8.53 (vs ₹2.56 in 3Q 2024) Third quarter 2025 results: EPS: ₹8.53 (up from ₹2.56 in 3Q 2024). Revenue: ₹46.6b (up 39% from 3Q 2024). Net income: ₹15.7b (up 233% from 3Q 2024). Profit margin: 34% (up from 14% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 14% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 10
National Aluminium Company Limited Approves Second Interim Dividend for the Financial Year 2024-25, Payable on March 10, 2025 National Aluminium Company Limited in its meeting held on February 10, 2025, has approved payment of 2nd Interim dividend @ INR 4/per share (80% on Face value of INR 5/each) on the paidup equity share capital of INR 9,183.2 million for the financial year 2024-25. The Company has fixed the 14th February, 2025 as Record Date for payment of above 2nd Interim Dividend for the financial year 202425 to the eligible shareholders. The payment of interim dividend shall be made on or before March 10, 2025, to all eligible shareholders, whose names appear in the Register of Members as on Record Date. Announcement • Jan 31
National Aluminium Company Limited to Report Q3, 2025 Results on Feb 10, 2025 National Aluminium Company Limited announced that they will report Q3, 2025 results on Feb 10, 2025 Announcement • Dec 19
National Aluminium Company Limited Appoints Tapas Kumar Pattanayak as Director (HR) National Aluminium Company Limited announced that Dr. Tapas Kumar Pattanayak has been appointed as Director (HR) on the Board of NALCO vide Office Order dated December 19, 2024 of Ministry of Mines, Government of India. His date of appointment will be effective from the date of his assumption of charge as Director (HR) as mentioned in the aforesaid Office Order. Announcement • Nov 29
National Aluminium Company Limited Appoints Vivek Kumar Bajpai as Part-Time Official Director National Aluminium Company Limited announced that, Shri Vivek Kumar Bajpai, Joint Secretary, Ministry of Mines has been appointed as part-time official director of the company with effect from 28 November 2024 (AN) in terms of Order dated 28 November 2024 of Ministry of Mines, Government of India. Shri Vivek Kumar Bajpai is not related to any of the Director or Key Managerial Personnel of the Company and also not debarred from holding the office of Director by virtue of any SEBI order or any other such authority. Shri Vivek Kumar Bajpai is an Indian Railway Service Mechanical Engineers Cadre Officer (IRSME) of 1999 Batch. He did B. Tech in Mechanical Engineering from Gorakhpur University and had worked in the Railways in various capacities, including as a chief Project Manager in COFMOW and headed Turnkey Projects pertaining to Automation, Upgradation and Capacity Augmentation needs of various Railway Units. Shri Bajpai joined Ministry of Textiles on Deputation in April 2022 and worked as Additional Development Commissioner (Handlooms) with the responsibility for Pan India implementation of handloom schemes and monitoring various cluster-based intervention for welfare of handloom workers. Presently, Shri Bajpai is working as Joint Secretary in the Ministry of Mines, Government of India, which involves administration of PSUs under the Ministry, International Cooperation in the fields of minerals and metals, and supporting exploration activities under National Mineral Exploration Trust (NMET), Media engagements of the Ministry, work related to administering OAMDR Act etc. Shri Bajpai is also a Director on the Board of Hindustan Zinc Limited with effect from 24 July 2024 and Managing Director of Bharat Gold Mines Limited with effect from 13 September 2024. Valuation Update With 7 Day Price Move • Nov 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹257, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 17x in the Metals and Mining industry in India. Total returns to shareholders of 233% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹179 per share. Buy Or Sell Opportunity • Nov 18
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 40% to ₹240. The fair value is estimated to be ₹196, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 10%. Revenue is forecast to grow by 23% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Declared Dividend • Nov 15
Dividend increased to ₹4.00 Dividend of ₹4.00 is 300% higher than last year. Ex-date: 29th November 2024 Payment date: 11th December 2024 Dividend yield will be 3.6%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is well covered by both earnings (24% earnings payout ratio) and cash flows (38% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹5.70 (vs ₹1.02 in 2Q 2024) Second quarter 2025 results: EPS: ₹5.70 (up from ₹1.02 in 2Q 2024). Revenue: ₹40.7b (up 34% from 2Q 2024). Net income: ₹10.5b (up 458% from 2Q 2024). Profit margin: 26% (up from 6.2% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 33% per year, which means it is well ahead of earnings. Announcement • Nov 13
National Aluminium Company Limited Approves Interim Dividend for the Financial Year 2024-2025, Payable on December 11, 2024 National Aluminium Company Limited announced that, the Board of Directors in their meeting held on November 13, 2024, approved payment of interim dividend at INR 4 per share (80% on Face value of INR 5 each) on the paid up equity share capital of INR 9,183.2 million for the financial year 2024-2025. The Company has fixed November 29, 2024 as Record Date for payment of above Interim Dividend for the financial year 2024-2025 to the eligible shareholders. The payment of interim dividend shall be made on December 11, 2024 to all eligible shareholders, whose names appear in the Register of Members as on Record Date. Price Target Changed • Oct 12
Price target increased by 9.0% to ₹203 Up from ₹186, the current price target is an average from 10 analysts. New target price is 8.8% below last closing price of ₹223. Stock is up 125% over the past year. The company is forecast to post earnings per share of ₹15.31 for next year compared to ₹10.83 last year. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹210, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 18x in the Metals and Mining industry in India. Total returns to shareholders of 133% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹132 per share. Upcoming Dividend • Sep 16
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 20 September 2024. Payment date: 27 October 2024. Payout ratio is a comfortable 46% and this is well supported by cash flows. Trailing yield: 2.7%. Within top quartile of Indian dividend payers (1.0%). Higher than average of industry peers (1.5%). Announcement • Sep 06
National Aluminium Company Limited Announces Cessation of Veena Kumari Dermal, Part-Time Official Director National Aluminium Company Limited informed that, Ministry of Mines vide their Order dated August 14, 2024 [received by the Company on September 05, 2024(AN)] has informed that, Dr. Veena Kumari Dermal, IPoS, Part-time Official Director of the Company has been relieved of her duties in Ministry of Mines, effective August 15, 2024 (AN). In view of above, she ceases to be the Part-time Official Director on the Board of the Company, effective August 15, 2024. Announcement • Sep 03
National Aluminium Company Limited, Annual General Meeting, Sep 27, 2024 National Aluminium Company Limited, Annual General Meeting, Sep 27, 2024, at 11:00 Indian Standard Time. Declared Dividend • Sep 01
Dividend of ₹2.00 announced Shareholders will receive a dividend of ₹2.00. Ex-date: 20th September 2024 Payment date: 27th October 2024 Dividend yield will be 2.7%, which is lower than the industry average of 6.1%. Sustainability & Growth Dividend is covered by both earnings (49% earnings payout ratio) and cash flows (69% cash payout ratio). The dividend has increased by an average of 12% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 44% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Aug 13
First quarter 2025 earnings released: EPS: ₹3.20 (vs ₹1.82 in 1Q 2024) First quarter 2025 results: EPS: ₹3.20 (up from ₹1.82 in 1Q 2024). Revenue: ₹29.2b (down 8.2% from 1Q 2024). Net income: ₹5.88b (up 76% from 1Q 2024). Profit margin: 20% (up from 11% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. New Risk • Aug 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.1% average weekly change). Announcement • Aug 05
National Aluminium Company Limited to Report Q1, 2025 Results on Aug 12, 2024 National Aluminium Company Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Announcement • Jul 01
National Aluminium Company Limited Announces Superannuated of Three Senior Executive Directors National Aluminium Company Limited informed that Shri Amiya Kumar Swain, Executive Director (Smelter & Power), Shri Sushil Kumar Padhee, Executive Director (Mines & Refinery) and Shri Braja Kumar Dash, Executive Director (Finance) three senior executives of the Company have superannuated from the post on June 30, 2024. Announcement • Jun 14
National Aluminium Company Limited Announces Resignation of Shri George Kurian, Independent Director National Aluminium Company Limited informed that, the Shri George Kurian, Independent Director has tendered his resignation from the Directorship on the Board of the Company, effective June 9, 2024. Valuation Update With 7 Day Price Move • Jun 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹159, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 16x in the Metals and Mining industry in India. Total returns to shareholders of 155% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹129 per share. Reported Earnings • May 28
Full year 2024 earnings released: EPS: ₹10.83 (vs ₹7.81 in FY 2023) Full year 2024 results: EPS: ₹10.83 (up from ₹7.81 in FY 2023). Revenue: ₹134.0b (down 6.0% from FY 2023). Net income: ₹19.9b (up 39% from FY 2023). Profit margin: 15% (up from 10% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 38% per year, which means it is well ahead of earnings. Announcement • May 16
National Aluminium Company Limited to Report Q4, 2024 Results on May 27, 2024 National Aluminium Company Limited announced that they will report Q4, 2024 results on May 27, 2024 Price Target Changed • Apr 28
Price target increased by 7.8% to ₹150 Up from ₹139, the current price target is an average from 10 analysts. New target price is 21% below last closing price of ₹189. Stock is up 128% over the past year. The company is forecast to post earnings per share of ₹8.21 for next year compared to ₹7.81 last year. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹175, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 244% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹83.11 per share. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹136, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 192% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹84.36 per share. Announcement • Feb 19
National Aluminium Company Limited Announces Executive Changes National Aluminium Company Limited announced that, the following Executives have been promoted as Executive Director (Senior Management) of the Company: Shri Nayan Kumar Mohanty: Promotion as Executive Director. Shri Mohanty is a Fellow Member of the Institute of Company Secretaries of India. He also holds Post Graduate degree in Commerce and degree in Law. He joined NALCO on 08 August 1994 and was working as Group General Manager & Company Secretary before his promotion as Executive Director. Shri Kallol Bikash Swain: Promotion as Executive Director. Shri Swain is a Mechnical Engineer and holds Bachelor degree in Science. He joined NALCO on 27 February 1987 as Graduate Engineer Trainee (Mech.) and was working as Executive Director (Production)I/c. before his promotion as Executive Director. Shri Rasheed Waris: Promotion as Executive Director. Shri Waris is a Mechnical Engineer and holds Bachelor degree in Science. He joined NALCO on 12 March 1987 as Graduate Engineer Trainee (Mech.) and was working as Group General Manager (Mines)I before his promotion as Executive Director. Shri J. Rajesh Kapoor: Promotion as Executive Director. Shri Kapoor is a Mechnical Engineer and holds Master degree in Business Administration and CPPP. He joined NALCO on 30.06.1989 as Graduate Engineer Trainee (Mech.) and was working asGroup General Manager (Marketing) before his promotion as Executive Director. Upcoming Dividend • Feb 16
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 23 February 2024. Payment date: 14 March 2024. Payout ratio is a comfortable 49% but the company is paying out more than the cash it is generating. Trailing yield: 2.8%. Within top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (6.2%). New Risk • Feb 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Dividend is not well covered by cash flows (dividend per share is over 8x cash flows per share). Share price has been volatile over the past 3 months (8.0% average weekly change). Profit margins are more than 30% lower than last year (9.6% net profit margin). Announcement • Feb 13
National Aluminium Company Limited Approves Second Interim Dividend for the Financial Year 2023-24 The Board of Directors of National Aluminium Company Limited in their meeting held on February 13, 2024 have approved payment of second interim dividend @ INR 2 per share (40% on Face value of INR 5/- each) on the paid-up equity share capital of INR 9183.2 million for the financial year 2023-24. The Board of Directors has fixed the February 23, 2024 as `Record Date' for payment of above 2nd interim dividend for the financial year 2023-24. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹146, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 244% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹101 per share. Price Target Changed • Jan 11
Price target increased by 7.5% to ₹107 Up from ₹99.78, the current price target is an average from 9 analysts. New target price is 18% below last closing price of ₹130. Stock is up 58% over the past year. The company is forecast to post earnings per share of ₹7.24 for next year compared to ₹7.81 last year. Valuation Update With 7 Day Price Move • Jan 02
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹139, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 15x in the Metals and Mining industry in India. Total returns to shareholders of 259% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹105 per share. Valuation Update With 7 Day Price Move • Dec 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹113, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 238% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹105 per share. Upcoming Dividend • Nov 15
Upcoming dividend of ₹1.00 per share at 4.8% yield Eligible shareholders must have bought the stock before 22 November 2023. Payment date: 07 December 2023. Payout ratio is a comfortable 65% but the company is paying out more than the cash it is generating. Trailing yield: 4.8%. Within top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (7.1%). Reported Earnings • Nov 11
Second quarter 2024 earnings released: EPS: ₹1.02 (vs ₹0.68 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.02 (up from ₹0.68 in 2Q 2023). Revenue: ₹30.4b (down 13% from 2Q 2023). Net income: ₹1.87b (up 49% from 2Q 2023). Profit margin: 6.2% (up from 3.6% in 2Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 2.7% p.a. on average during the next 3 years, compared to a 7.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 16% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 10
Corporate Action-Board Approves Dividend, Payable on or Before December 07, 2023 National Aluminium Company Limited at its board meeting held on i.e. November 09, 2023 have approved payment of interim dividend at INR 1 per share (20% on Face value of INR 5/each) on the paid up equity share capital. The Company has fixed the 22nd November, 2023 as Record Date for payment of above Interim Dividend for the financial year 202324 to the eligible shareholders whose name appear: The payment of interim dividend shall be made on or before December 07, 2023 to all eligible shareholders, whose names appear in the Register of Members as on Record Date. Announcement • Nov 03
National Aluminium Company Limited to Report Q2, 2024 Results on Nov 09, 2023 National Aluminium Company Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Oct 12
National Aluminium Company Limited Appoints Shri Jagdish Arora as Director National Aluminium Company Limited informed that, Shri Jagdish Arora has been appointed as Director (Projects & Technical) of the Company with effect from October 11, 2023 in terms of Order dated October 09, 2023 of Ministry of Mines, Government of India. Shri Jagdish Arora has joined the Board of Directors of National Aluminium Company Limited as Director (Projects & Technical) on 11.10.2023. Shri Arora is an experienced professional with over thirty four years of proven knowledge of diverse Business Processes of metal and mining industry. He is a B. Tech in MechanicalEngineering from NIT, Warangal and PGDBM (Finance & Marketing) from XLRI, Jamshedpur. He started his career in Steel Authority of India Limited (SAIL) as Management Trainee (Technical) in 1989 and reached to the post of Executive Director, in-charge of Centre for Engineering & Technology, the in-house Engineering and Technical Project consultancy unit of SAIL before taking charge as Director (Projects & Technical), NALCO. He was handling the engineering consultancy of projects worth more than INR 470,000 million. He was closely associated with modernization, Brownfield and Greenfield expansion projects of SAIL. Shri Arora has working experience across various domains like Operation, Technology Management, Engineering, Projects, Consulting and Commercial. He has been recognized for his significant contribution in the areas of sustainability, ecarbonization, Atmanirbhar Bharat, digital transformation and Industry roadmap for 2047 for the Indian Steel Industry. He is a TEDex speaker on sustainability. Shri Arora has coordinated and executed many companywide Systemic Improvement Projects, shaped numerous systems and procedures like DigitalProject Management, Electronic Document and Drawing Management System, System of Acceptable makes, Cost estimation system, Business Intelligence Model, Standard Bidding Document, Recruitment Manual etc. He is recognized as a thought leader in the industry and visiting faculty for Strategy, Leadership, Team Building, Problem Solving & Decision Making, Negotiation, Financial Management and Climate Change. Announcement • Oct 05
National Aluminium Company Limited Approves Final Dividend for the Year Ended 31 March, 2023 National Aluminium Company Limited approved the recommendation of the Board of Directors, final dividend of INR 1.00 per equity share, being 20 percent on the face value of INR 5/- equity share for the year ended 31st March, 2023 on paid-up equity share capital of the Company be and is hereby declared and be paid to those shareholders whose names appeared in the list of beneficial owners as at the end of the business hours on September 15, 2023, furnished electronically by Depositories - National Securities Depository Limited and Central Depository Services (India) Limited and whose names appeared in the Company's Register of Members as on September 15, 2023 and that the final dividend be paid within 30 days hereof to those shareholders who are entitled to receive payment. Upcoming Dividend • Sep 08
Upcoming dividend of ₹1.00 per share at 4.5% yield Eligible shareholders must have bought the stock before 15 September 2023. Payment date: 21 October 2023. Payout ratio is a comfortable 58% but the company is not cash flow positive. Trailing yield: 4.5%. Within top quartile of Indian dividend payers (1.3%). Lower than average of industry peers (7.0%). Announcement • Aug 27
National Aluminium Company Limited, Annual General Meeting, Sep 21, 2023 National Aluminium Company Limited, Annual General Meeting, Sep 21, 2023, at 11:00 Indian Standard Time. Agenda: To consider the audited financial statements (including audited consolidated financial statements) of the Company for the financial year ended 31st March, 2023, the reports of the Board of Directors and Auditors thereon; to consider and confirm payment of 1st and 2nd interim dividend and declare final dividend on equity shares for the financial year ended 31st March, 2023; to consider and appoint a Director in place of Dr. Veena Kumari Dermal, IPoS , who retires by rotation and being eligible, offers herself for re-appointment; and to consider other business matters. Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹1.82 (vs ₹3.04 in 1Q 2023) First quarter 2024 results: EPS: ₹1.82 (down from ₹3.04 in 1Q 2023). Revenue: ₹32.3b (down 15% from 1Q 2023). Net income: ₹3.34b (down 40% from 1Q 2023). Profit margin: 10% (down from 15% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 5.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year whereas the company’s share price has increased by 39% per year. Announcement • Aug 12
National Aluminium Company Limited Recommends Final Dividend for the Financial Year 2022-2023 National Aluminium Company Limited Board has recommended final dividend @ INR 1 per share (20% on face value of INR 5 each) for the financial year 2022-23, subject to the approval of shareholders in the ensuing 42nd Annual General Meeting (AGM). The final dividend @ INR 1 per share, as recommended by the Board of Directors, if declared in the ensuing 42nd AGM, will be paid within a period of 30 days from the date of declaration, as per the provisions of the Companies Act, 2013. Announcement • Aug 03
National Aluminium Company Limited to Report Q1, 2024 Results on Aug 11, 2023 National Aluminium Company Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • May 25
Full year 2023 earnings released: EPS: ₹7.81 (vs ₹16.07 in FY 2022) Full year 2023 results: EPS: ₹7.81 (down from ₹16.07 in FY 2022). Revenue: ₹144.9b (up 2.2% from FY 2022). Net income: ₹14.3b (down 51% from FY 2022). Profit margin: 9.9% (down from 21% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is expected to decline by 1.4% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in India are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth. Announcement • May 17
National Aluminium Company Limited to Report Q4, 2023 Results on May 24, 2023 National Aluminium Company Limited announced that they will report Q4, 2023 results at 4:00 PM, Indian Standard Time on May 24, 2023 Reported Earnings • Feb 12
Third quarter 2023 earnings released: EPS: ₹1.40 (vs ₹4.52 in 3Q 2022) Third quarter 2023 results: EPS: ₹1.40 (down from ₹4.52 in 3Q 2022). Revenue: ₹32.9b (down 13% from 3Q 2022). Net income: ₹2.56b (down 69% from 3Q 2022). Profit margin: 7.8% (down from 22% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 23% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jan 20
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 27 January 2023. Payment date: 16 February 2023. Payout ratio is a comfortable 33% but the company is paying out more than the cash it is generating. Trailing yield: 7.7%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (5.6%). 
