NLC India Limited

BSE:513683 Stock Report

Market Cap: ₹435.1b

NLC India Future Growth

Future criteria checks 1/6

NLC India is forecast to grow earnings and revenue by 3.1% and 14.1% per annum respectively. EPS is expected to grow by 3.2% per annum. Return on equity is forecast to be 14.3% in 3 years.

Key information

3.1%

Earnings growth rate

3.15%

EPS growth rate

Renewable Energy earnings growth17.2%
Revenue growth rate14.1%
Future return on equity14.30%
Analyst coverage

Low

Last updated20 May 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 23

513683: Nuclear JV And Rare Earth Initiatives Will Support Future Repricing

Analysts have reiterated their ₹390 price target for NLC India, citing largely unchanged assumptions around revenue growth, profit margins and future P/E, with only minor tweaks to the discount rate in their updated valuation work. What's in the News for NLC India The Centre launched an offer for sale of a 2% base stake in NLC India, with a 1% greenshoe option, at a floor price of ₹303 per share, as part of its Fiscal Year 2026-27 disinvestment program.
Narrative Update • Jun 04

513683: Board Dividend Plans And Revised Assumptions Will Support Future Repricing

Analysts have raised their price target for NLC India from ₹324 to ₹390, citing updated assumptions for revenue growth, profit margins and forward P/E that feed into a revised fair value and discount rate. What's in the News NLC India has recommended a final dividend of 2.50%, or ₹0.25 per paid up equity share, for FY 2025-2026, subject to shareholder approval.
Narrative Update • May 19

513683: Stable Outlook As Board Decisions And Assumption Shifts Shape Future Repricing

Analysts have reset their price target for NLC India to ₹324, reflecting updates to key assumptions on the discount rate, revenue growth, profit margins, and future P/E expectations. What's in the News Board meeting scheduled for May 13, 2026, at 16:30 IST to review audited standalone and consolidated financial results for the quarter and year ended March 31, 2026 (company filing).
Narrative Update • Apr 27

513683: Stable Outlook As Energy Partnership And Steady Assumptions Guide Future Repricing

Analysts have kept their fair value estimate for NLC India steady at ₹324.0 per share, with only small tweaks to assumptions such as discount rate, revenue growth, profit margin and future P/E feeding into the unchanged price target. What's in the News NLC India signed an MoU with National Aluminium Company (NALCO), a Navratna CPSE under the Ministry of Mines, to work together on thermal and renewable energy projects.
Narrative Update • Apr 10

513683: Interim Dividend Will Support Future Repricing Potential

Analysts have kept their fair value estimate for NLC India steady at ₹324, citing largely unchanged assumptions around discount rate, revenue growth, profit margin and forward P/E. Taken together, these factors support a consistent view of the company’s valuation.
Narrative Update • Mar 27

513683: Interim Dividend And Renewable Listing Plan Will Support Repricing

Analysts have kept the price target for NLC India broadly unchanged at around ₹324, reflecting only marginal tweaks to underlying assumptions such as discount rate, revenue growth, profit margin and future P/E estimates. What's in the News NLC India signed an MoU with National Aluminium Company (NALCO), a Navratna CPSE under the Ministry of Mines, to work together on thermal and renewable energy projects, with scope for a potential joint venture company (Key Developments).
Narrative Update • Mar 13

513683: Interim Dividend And Renewable Listing Plan Will Drive Repricing

Analysts have kept their price target for NLC India broadly unchanged at around ₹324, as only minor tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E contribute to a largely stable valuation view. What's in the News NLC India signed an MoU with National Aluminium Company (NALCO), a Navratna CPSE under the Ministry of Mines, to work together on thermal and renewable energy projects, with potential for a future joint venture company (Key Developments).
Narrative Update • Feb 26

513683: Interim Dividend And Renewable Listing Will Support Future Bullish Repricing

Analysts have kept their fair value estimate for NLC India steady at ₹324. They have, however, slightly adjusted assumptions such as the discount rate, revenue growth, profit margin and future P/E, which together influence their updated price target narrative.
Narrative Update • Feb 11

513683: Interim Dividend And Renewable Listing Plan Will Support Bullish Repricing

Analysts have revised their price target on NLC India to ₹324 from ₹304, citing updated assumptions around revenue growth, profit margins, and future P/E expectations in their valuation work. What's in the News A board meeting is scheduled on Feb 10, 2026 to consider and approve the unaudited financial results for the quarter and nine months ended Dec 31, 2025 (Key Developments).
User avatar
New Narrative • Feb 23

I Anticipate Joint Ventures In Rajasthan And Assam Will Diversify Future Energy Mix

Strategic expansions in thermal, coal, and renewable energies are expected to diversify NLCIL's energy mix and enhance revenue streams.

Earnings and Revenue Growth Forecasts

BSE:513683 - Analysts future estimates and past financials data (INR Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
3/31/2028233,76237,4248,99487,1941
3/31/2027217,20832,95717,88179,9331
3/31/2026174,89535,222-27,78951,661N/A
12/31/2025162,83126,107N/AN/AN/A
9/30/2025162,51526,1282,17487,499N/A
6/30/2025157,30428,595N/AN/AN/A
3/31/2025152,83026,21416,36989,771N/A
12/31/2024150,54322,536N/AN/AN/A
9/30/2024138,07318,35917,08660,424N/A
6/30/2024131,29720,088N/AN/AN/A
3/31/2024130,01318,54123,44355,125N/A
12/31/2023145,92525,695N/AN/AN/A
9/30/2023151,07119,12414,86448,922N/A
6/30/2023156,18812,386N/AN/AN/A
3/31/2023163,02513,95715,68041,713N/A
12/31/2022141,1718,940N/AN/AN/A
9/30/2022131,69915,31935,68945,402N/A
6/30/2022127,74413,067N/AN/AN/A
3/31/2022119,47910,92668,29177,461N/A
12/31/2021117,01615,174N/AN/AN/A
9/30/2021111,84714,57470,93896,588N/A
6/30/2021101,83613,230N/AN/AN/A
3/31/202198,46112,81920,67843,897N/A
12/31/2020100,75910,474N/AN/AN/A
9/30/2020106,03612,749-19,61515,396N/A
6/30/2020109,37414,912N/AN/AN/A
3/31/2020103,20614,414-42,48016,468N/A
12/31/201997,14614,271N/AN/AN/A
9/30/201996,57513,750N/AN/AN/A
6/30/201995,15514,407N/AN/AN/A
3/31/201998,70915,077N/A16,201N/A
3/31/2018112,88419,428N/A45,334N/A
3/31/2017111,85724,470N/A12,253N/A
3/31/201678,757856N/A13,005N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 513683's forecast earnings growth (3.1% per year) is below the savings rate (6.9%).

Earnings vs Market: 513683's earnings (3.1% per year) are forecast to grow slower than the Indian market (16.3% per year).

High Growth Earnings: 513683's earnings are forecast to grow, but not significantly.

Revenue vs Market: 513683's revenue (14.1% per year) is forecast to grow faster than the Indian market (11% per year).

High Growth Revenue: 513683's revenue (14.1% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 513683's Return on Equity is forecast to be low in 3 years time (14.3%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/05 07:16
End of Day Share Price 2026/07/03 00:00
Earnings2026/03/31
Annual Earnings2026/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NLC India Limited is covered by 5 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Rajesh Majumdar360 ONE Capital Market Private Limited
Bharat ParekhBofA Global Research
Vijay MadunalaFirstCall Research