Price Target Changed • May 20
Price target increased by 28% to ₹390 Up from ₹304, the current price target is provided by 1 analyst. New target price is 10% above last closing price of ₹354. Stock is up 48% over the past year. The company is forecast to post earnings per share of ₹23.80 for next year compared to ₹25.40 last year. Reported Earnings • May 15
Full year 2026 earnings: EPS exceeds analyst expectations while revenues lag behind Full year 2026 results: EPS: ₹25.40 (up from ₹18.90 in FY 2025). Revenue: ₹184.7b (up 21% from FY 2025). Net income: ₹35.2b (up 34% from FY 2025). Profit margin: 19% (up from 17% in FY 2025). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) exceeded analyst estimates by 26%. Revenue is forecast to grow 11% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 60% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 15
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 19% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (19% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Duyuru • May 06
NLC India Limited to Report Q4, 2026 Results on May 13, 2026 NLC India Limited announced that they will report Q4, 2026 results on May 13, 2026 Reported Earnings • Feb 11
Third quarter 2026 earnings released: EPS: ₹5.22 (vs ₹5.02 in 3Q 2025) Third quarter 2026 results: EPS: ₹5.22. Revenue: ₹44.4b (flat on 3Q 2025). Net income: ₹6.66b (flat on 3Q 2025). Profit margin: 15% (in line with 3Q 2025). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Duyuru • Feb 05
NLC India Limited to Report Q3, 2026 Results on Feb 10, 2026 NLC India Limited announced that they will report Q3, 2026 results on Feb 10, 2026 Duyuru • Jan 16
NLC India Limited Appoints Shri Mangat Ram Sharma As Part-Time Official Director, Effective January 16, 2026 NLC India Limited has announced the appointment of Shri Mangat Ram Sharma as the Part-time Official Director of the Company with effect from January 16, 2026 and until further orders. The Ministry of Coal, Government of India, vide its Letter No. 21/3/2011-ASO/ESTT-Part(1) [FTS-344343] dated January 16, 2026, has appointed Shri Mangat Ram Sharma (DIN: 01367512), as the Part-time Official Director on the Board of NLC India Limited. Shri Mangat Ram Sharma is a senior IAS officer of the 1992 batch belonging to the Tamil Nadu cadre, presently serving as Additional Chief Secretary (ACS), Public Works Department (PWD), Government of Tamil Nadu. He is also holding full Additional Charge of the post of Principal Secretary, Energy Department, Government of Tamil Nadu. Shri Mangat Ram Sharma is not related to any of the Directors of the Company. Upcoming Dividend • Jan 16
Upcoming dividend of ₹3.60 per share Eligible shareholders must have bought the stock before 20 January 2026. Payment date: 11 February 2026. Payout ratio is a comfortable 7.9% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (2.0%). Reported Earnings • Oct 31
Second quarter 2026 earnings released: EPS: ₹5.23 (vs ₹7.08 in 2Q 2025) Second quarter 2026 results: EPS: ₹5.23 (down from ₹7.08 in 2Q 2025). Revenue: ₹41.8b (up 14% from 2Q 2025). Net income: ₹6.65b (down 27% from 2Q 2025). Profit margin: 16% (down from 25% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 21
NLC India Limited to Report Q2, 2026 Results on Oct 29, 2025 NLC India Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Oct 29, 2025 Duyuru • Sep 30
NLC India Limited Approves Final Dividend for the Financial Year 2024-25 NLC India Limited announced that at the AGM held on 27 September, 2025, approved to declare the Final Dividend @ INR 1.50 per equity share {15%) for the Financial Year 2024-25. Declared Dividend • Sep 04
Dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 19th September 2025 Payment date: 27th October 2025 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (14% earnings payout ratio) and cash flows (25% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 4.2% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Sep 02
NLC India Limited, Annual General Meeting, Sep 27, 2025 NLC India Limited, Annual General Meeting, Sep 27, 2025, at 15:00 Indian Standard Time. New Risk • Aug 08
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.6x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.6x net interest cover). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Duyuru • Aug 02
NLC India Limited to Report Q1, 2026 Results on Aug 07, 2025 NLC India Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Major Estimate Revision • May 21
Consensus EPS estimates increase by 12%, revenue downgraded The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from ₹185.1b to ₹182.0b. EPS estimate rose from ₹17.40 to ₹19.50. Net income forecast to grow 11% next year vs 18% growth forecast for Renewable Energy industry in India. Consensus price target of ₹304 unchanged from last update. Share price rose 3.5% to ₹239 over the past week. Duyuru • May 20
NLC India Limited Recommends Final Dividend for the Financial Year 2024-25 Board of Directors of NLC India Limited at their meeting held on 19 May, 2025 have, considered and approved the recommendation of Final Dividend of 15.00% (i.e. INR 1.50 per equity share) for the Financial Year 2024-25, subject to C&AG Audit and approval of Members at the ensuing Annual General Meeting. The details of closure of Register of Members and Share Transfer Books/Record date and date on which the said Final dividend shall be paid/dispatched will be intimated in due course after fixing the date of Annual General Meeting. Duyuru • May 13
NLC India Limited to Report Q4, 2025 Results on May 19, 2025 NLC India Limited announced that they will report Q4, 2025 results on May 19, 2025 Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹224, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 17x in the Renewable Energy industry in India. Total returns to shareholders of 309% over the past three years. Declared Dividend • Feb 05
Dividend of ₹1.50 announced Shareholders will receive a dividend of ₹1.50. Ex-date: 7th February 2025 Payment date: 4th March 2025 Dividend yield will be 1.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (24% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 26% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 04
Third quarter 2025 earnings released: EPS: ₹5.02 (vs ₹1.83 in 3Q 2024) Third quarter 2025 results: EPS: ₹5.02 (up from ₹1.83 in 3Q 2024). Revenue: ₹44.1b (up 39% from 3Q 2024). Net income: ₹6.68b (up 167% from 3Q 2024). Profit margin: 15% (up from 7.9% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Feb 03
Nlc India Limited Announces Promotion of Cheruku Dayanand as an Executive Director NLC India Limited informed that Shri Cheruku Dayanand has been promoted as an Executive Director (Senior Management Personnel) of the Company with effect from February 1, 2025. Reason for Change: Departmental Promotion to the post of Executive Director. Terms of appointment: As per extant Company Rules. Shri Cheruku Dayanand is a Mining Engineer and also holds First Class Mine Manager Certificate. He is having 33 years of experience in coal and lignite mining and mine planning, project execution, statutory compliance, and technological advancements in mining. He holds various positions in Public and Private sectors. He is associated with the Company from the year 2020. Duyuru • Jan 31
NLC India Limited Announces Cessation of B Surianarayanan as Executive Director NLC India Limited announced that Shri B Surianarayanan ceased to be Executive Director (Senior Management Personnel) of the Company on January 31, 2025 on attaining the age of superannuation. Duyuru • Jan 29
NLC India Limited to Report Q3, 2025 Results on Feb 03, 2025 NLC India Limited announced that they will report Q3, 2025 results on Feb 03, 2025 Duyuru • Jan 02
NLC India Limited Announces Resignation of R. Udhayashankar from the Position of Company Secretary & Compliance Officer, Effective from the Close of the Business Hours on 10Th February, 2025 NLC India Limited announced that R. Udhayashankar has tendered his resignation from the position of Company Secretary & Compliance Officer of the Company, in order to pursue an alternate
career opportunity outside the organization. He will be relieved from the services of the Company effective from the close of the business hours on 10th February, 2025. Date of cessation is February. Reported Earnings • Oct 26
Second quarter 2025 earnings released: EPS: ₹7.08 (vs ₹7.83 in 2Q 2024) Second quarter 2025 results: EPS: ₹7.08 (down from ₹7.83 in 2Q 2024). Revenue: ₹43.7b (up 47% from 2Q 2024). Net income: ₹9.12b (down 16% from 2Q 2024). Profit margin: 21% (down from 36% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 21
NLC India Limited to Report Q2, 2025 Results on Oct 25, 2024 NLC India Limited announced that they will report Q2, 2025 results on Oct 25, 2024 Duyuru • Sep 27
NLC India Limited Approves Final Dividend for the Financial Year 2023-2024 NLC India Limited announced that at the AGM held on 25 September, 2024 approved the final dividend of INR 1.50 per equity share for the financial year 2023-2024. Declared Dividend • Sep 04
Dividend reduced to ₹1.50 Dividend of ₹1.50 is 25% lower than last year. Ex-date: 18th September 2024 Payment date: 25th October 2024 Dividend yield will be 1.1%, which is lower than the industry average of 1.3%. Sustainability & Growth Dividend is well covered by both earnings (22% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 13% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Sep 03
NLC India Limited, Annual General Meeting, Sep 25, 2024 NLC India Limited, Annual General Meeting, Sep 25, 2024, at 15:00 Indian Standard Time. Price Target Changed • Aug 15
Price target increased by 23% to ₹318 Up from ₹259, the current price target is provided by 1 analyst. New target price is 23% above last closing price of ₹258. Stock is up 106% over the past year. The company is forecast to post earnings per share of ₹14.30 for next year compared to ₹13.47 last year. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₹158.6b to ₹149.8b. EPS estimate also fell from ₹16.40 per share to ₹14.30 per share. Net income forecast to grow 5.0% next year vs 22% growth forecast for Renewable Energy industry in India. Consensus price target up from ₹259 to ₹318. Share price was steady at ₹258 over the past week. Reported Earnings • Aug 08
First quarter 2025 earnings released: EPS: ₹4.09 (vs ₹2.98 in 1Q 2024) First quarter 2025 results: EPS: ₹4.09 (up from ₹2.98 in 1Q 2024). Revenue: ₹36.4b (up 9.8% from 1Q 2024). Net income: ₹5.59b (up 38% from 1Q 2024). Profit margin: 15% (up from 12% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 25% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Renewable Energy industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 06
NLC India Limited Announces Promotion of Executive NLC India Limited announced promotion of Senior Management Personnel. Particulars; Shri Hariramakrishnan N, Departmental Promotion Committee has recommended to the post of Executive Director, Shri N. Hariramakrishnan, is a Post Graduate in Commerce (M.Com), an Associate Member of the Institute of Cost Accountants of India (AICMAI), has completed Company Secretary ship Intermediate and holds a Post Graduate Certification Program in Valuation from ICMAI (PGCPV). Prior to joining NLC India Limited he has worked in Hindustan Copper Ltd, Hindustan Aeronautics Ltd. and NTPC. He has vast experience of 20 years in Audit Department and Fund Raising. Over the past 8 years at NLC India Ltd, he was instrumental in raising domestic loans totaling about INR 25,000 crores to fund various projects including NUPPL, NNTPP, NTPL, and multiple solar projects. Shri Anbuchelvan B, Departmental Promotion Committee has recommended to the post of Executive Director, Shri B. Anbuchelvan, is an engineer with a Bachelor's degree in Mining, PG diploma in Ecology and Environment, MBA degree in Human Resource Management (HRM) and M.Tech in Mine Planning. He additionally holds a First Class Mines Manager's competency certificate (Coal) from the Directorate General of Mines Safety. Prior to joining NLC India Limited he worked in Western Coalfields Limited of Coal India Limited. He has extensive experience of more than 30 years in the Mining field. In addition to his existing assignments, he also function as CEO of NLC India Renewables Limited (NIRL) a wholly owned subsidiary of NLCIL. Shri Rajmohan S; Departmental Promotion Committee has recommended to the post of Executive Director, Shri. S. Rajmohan is an engineer with a Bachelor's degree in Mining and MBA in Marketing Management. He has Obtained First class Mines Manager Certificate of Competency under Coal Mines Regulations under the aegis of Director General of Mines Safety. He holds vast experience of 30 years in the Mining field. Prior to joining NLC India Limited he worked in South Eastern Coal Fields Limited. He has served in Barsingsar project in Rajasthan, as Project Manager in South Pachwara Coal Block, Dumka and as Unit Head of Mine-I, Mine-II and Mine-IA. Shri Surianarayanan B; Departmental Promotion Committee has recommended to the post of Executive Director, Shri Surianarayanan B is an engineer with a Bachelor's degree in Mechanical Engineering and Master of Science in Information Technology. He joined as a Graduate Engineer Trainee and has over 35 years of extensive experience in NLC India Limited. He has worked in various departments/divisions of NLCIL with key responsiblity in Leading thermal power operations, maintenance, and commissioning of large-scale power projects and Implementing environmental projects such as Flue Gas Desulfurization (FGD) systems. Shri Venkata Suryanaraya Murthy D; Shri Venkata Suryanaraya Murthy D is a Legal Officer holding Integrated Bachelor's degree in Law, M. A (Public Administration), Diploma in Industrial Relations and Personnel Management and P.G Diploma in Environment Studies. Prior to joining NLC India Limited he has Practiced as Advocate for about 13 years at Andhra Pradesh in the areas of Civil, Criminal, Labour and Service matters. He also functioned as a Law Officer in Union Bank of India in the States of Odisha,Jharkhand and Andhra Pradesh. He has rich experience in the Corporate Legal Matters and on the issues like, Disciplinary procedure, & legal issues, how to conduct the Domestic Inquiry proceedings, Right to Information Act and Legal aspects in Contract Management etc. Duyuru • Jul 29
NLC India Limited to Report Q1, 2025 Results on Aug 07, 2024 NLC India Limited announced that they will report Q1, 2025 results at 3:30 PM, Indian Standard Time on Aug 07, 2024 Valuation Update With 7 Day Price Move • Jun 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹235, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 21x in the Renewable Energy industry in India. Total returns to shareholders of 318% over the past three years. Major Estimate Revision • May 22
Consensus revenue estimates fall by 10% The consensus outlook for revenues in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from ₹176.8b to ₹158.6b. EPS estimate fell from ₹17.00 to ₹16.40 per share. Net income forecast to grow 23% next year vs 15% growth forecast for Renewable Energy industry in India. Consensus price target up from ₹253 to ₹259. Share price rose 5.1% to ₹241 over the past week. Reported Earnings • May 17
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹13.47 (up from ₹10.07 in FY 2023). Revenue: ₹139.5b (down 14% from FY 2023). Net income: ₹18.5b (up 33% from FY 2023). Profit margin: 13% (up from 8.6% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.3%. Earnings per share (EPS) also missed analyst estimates by 6.5%. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Renewable Energy 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 59% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 16
NLC India Limited Recommends Final Dividend for the Financial Year 2023-2024 The board of directors of NLC India Limited meeting held on May 15, 2024, recommended final dividend of 15.00% (i.e., INR 1.50 per equity share) for the Financial Year 2023-24, subject to C&AG Audit and approval of Members in the upcoming Annual General Meeting. Duyuru • May 08
NLC India Limited to Report Q4, 2024 Results on May 15, 2024 NLC India Limited announced that they will report Q4, 2024 results on May 15, 2024 Duyuru • Mar 26
NLC India Limited Announces Resignation of M T Ramesh, Independent Director NLC India Limited announced that Shri M T Ramesh has tendered his resignation as an Independent Director of the Company with effect from 25th March, 2024. Consequently, he shall also cease to be member/chairman of the respective committees of the Board of Directors with effect from the aforesaid date. Duyuru • Feb 29
NLC India Limited Announces Cessation of G. Srinivas to Be Executive Director (Senior Management Personnel) NLC India Limited announced that Shri G. Srinivas ceased to be Executive Director (Senior Management Personnel) of the Company on attaining the age of superannuation with effect from 29th February, 2024 A.N. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹254, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 19x in the Renewable Energy industry in India. Total returns to shareholders of 453% over the past three years. Major Estimate Revision • Feb 17
Consensus revenue estimates fall by 24% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₹176.8b to ₹135.1b. EPS estimate fell from ₹21.30 to ₹14.50 per share. Net income forecast to grow 3.3% next year vs 10% growth forecast for Renewable Energy industry in India. Consensus price target up from ₹200 to ₹281. Share price was steady at ₹254 over the past week. New Risk • Feb 12
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (9.6% average weekly change). Minor Risks High level of debt (109% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Feb 09
Upcoming dividend of ₹1.50 per share at 1.4% yield Eligible shareholders must have bought the stock before 16 February 2024. Payment date: 06 March 2024. Payout ratio is a comfortable 19% and this is well supported by cash flows. Trailing yield: 1.4%. Within top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (1.8%). Duyuru • Feb 08
NLC India Limited Announces Cessation of Shri Mukesh Agrawal as Executive Director (Senior Management Personnel) NLC India Limited announced that Shri Mukesh Agrawal ceased to be Executive Director (Senior Management Personnel) of the company. Shri Mukesh Agrawal has been relieved from the services of company with effect from February 07, 2024 and is permitted to maintain lien with the company for the period of his appointment in Board Level post upto a period of five years. Duyuru • Feb 07
NLC India Limited Announces Shri N Franklin Jayakumar ceased as Executive Director NLC India Limited announced that Shri N Franklin Jayakumar has been relieved from the services as Executive Director with effect from 07th February, 2024 and is permitted to maintain lien with the company for the period of his appointment in Board Level post upto a period of five years. Reported Earnings • Feb 07
Third quarter 2024 earnings released: EPS: ₹1.83 (vs ₹2.86 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹1.83 (up from ₹2.86 loss in 3Q 2023). Revenue: ₹32.5b (down 12% from 3Q 2023). Net income: ₹2.50b (up ₹6.57b from 3Q 2023). Profit margin: 7.7% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 18% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Renewable Energy 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 64% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹251, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 15x in the Renewable Energy industry in India. Total returns to shareholders of 417% over the past three years. Valuation Update With 7 Day Price Move • Nov 02
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹142, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 12x in the Renewable Energy industry in India. Total returns to shareholders of 228% over the past three years. Reported Earnings • Oct 28
Second quarter 2024 earnings released: EPS: ₹7.83 (vs ₹3.01 in 2Q 2023) Second quarter 2024 results: EPS: ₹7.83 (up from ₹3.01 in 2Q 2023). Revenue: ₹32.3b (down 7.3% from 2Q 2023). Net income: ₹10.8b (up 164% from 2Q 2023). Profit margin: 34% (up from 12% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 19
NLC India Limited to Report Q2, 2024 Results on Oct 26, 2023 NLC India Limited announced that they will report Q2, 2024 results on Oct 26, 2023 Upcoming Dividend • Sep 11
Upcoming dividend of ₹2.00 per share at 2.8% yield Eligible shareholders must have bought the stock before 18 September 2023. Payment date: 26 October 2023. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 2.8%. Within top quartile of Indian dividend payers (1.3%). In line with average of industry peers (2.6%). Duyuru • Sep 03
NLC India Limited, Annual General Meeting, Sep 26, 2023 NLC India Limited, Annual General Meeting, Sep 26, 2023, at 11:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the Financial Year ended 31 March, 2023, together with the Reports of the Board of Directors and Auditor's thereon; to appoint a Director in place of Shri K. Mohan Reddy, who retires by rotation & being eligible, offers himself for reappointment; to consider the appointment of Shri M. Venkatachalam as Director (Power) of the Company; and to consider other matters. Duyuru • Aug 10
NLC India Limited Promotes Shri K. Satya Prasad as Executive Director NLC India Limited announced Shri K. Satya Prasad promoted as Executive Director, order dated August 09, 2023 and promotion effective from July 29, 2023. Term of appointment: As per the extant policy from time to time. He holds a degree in B.Tech (Civil Engineering). He joined NLCIL in the year 1986 as GET Civil and served in various job roles & Positions in the Thermal PowerStations at Neyveli, Barsingsar and Talabira. He has also served as Unit head of Central Technical Offices and of MM Complex. Currently, he is working as Project Head of NLC Talabira Thermal Project, Odisha. Duyuru • Aug 01
Nlc India Limited Announces Resignation of Nedungkeeran R as Executive Director (Senior Management Personnel) NLC India Limited informed that Shri Nedungkeeran R ceased to be Executive Director (Senior Management Personnel) of the Company on attaining the age of superannuation with effect from closing hours of 31st July, 2023. Reported Earnings • Jul 31
First quarter 2024 earnings released: EPS: ₹2.98 (vs ₹4.10 in 1Q 2023) First quarter 2024 results: EPS: ₹2.98 (down from ₹4.10 in 1Q 2023). Revenue: ₹33.2b (down 14% from 1Q 2023). Net income: ₹4.05b (down 28% from 1Q 2023). Profit margin: 12% (down from 14% in 1Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 35% per year, which means it is well ahead of earnings. Reported Earnings • May 20
Full year 2023 earnings released: EPS: ₹10.28 (vs ₹7.88 in FY 2022) Full year 2023 results: EPS: ₹10.28 (up from ₹7.88 in FY 2022). Revenue: ₹173.8b (up 46% from FY 2022). Net income: ₹14.0b (up 28% from FY 2022). Profit margin: 8.0% (down from 9.1% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Duyuru • May 20
NLC India Limited Recommends Final Dividend for the Financial Year Ended 31 March, 2023 Board of Directors of NLC India Limited at its meeting held on May 19, 2023, have recommended a final dividend @ 20% i.e., INR 2.00 per equity share for the financial year ended 31 March, 2023, subject to C&AG Audit and approval of Members in the upcoming Annual General Meeting. The details of closure of Register of Members and Share Transfer Books and the date on which the above final dividend shall be paid/dispatched will be intimated in due course after fixing the date of Annual General Meeting. Duyuru • May 13
NLC India Limited to Report Q4, 2023 Results on May 19, 2023 NLC India Limited announced that they will report Q4, 2023 results on May 19, 2023 Duyuru • Feb 17
NLC India Limited Plans to Setup Another Coal Based Pit Head Thermal Power Project of 2400 MW (3 X 800 MW) at Talabira, Jharsuguda Dist., Odisha NLC India Ltd, has also planned to setup another Coal based Pit Head Thermal Power Project of 2400 MW (3 x 800 MW) at Talabira, Jharsuguda Dist., Odisha. For this project also, entire power has been tied up with Ministry of Power's Power Allocation Order dated February 15, 2023 (Tamil Nadu 1500 MW, Union Territory of Pondicherry 100 MW, Kerala 400 MW and Odisha 400 MW). A Single package EPC Tender for this project has already been floated and techno commercial evaluation of bids are in advanced stage of completion. Upcoming Dividend • Feb 17
Upcoming dividend of ₹1.50 per share at 3.8% yield Eligible shareholders must have bought the stock before 24 February 2023. Payment date: 14 March 2023. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.8%. Within top quartile of Indian dividend payers (1.6%). In line with average of industry peers (3.9%). Duyuru • Feb 14
NLC India Limited Declares Interim Dividend for the Financial Year 2022-23, Payable on or Before March 14, 2023 NLC India Limited at its board meeting held on February 13, 2023 declared an Interim Dividend of 15.00% (i.e., INR 1.50 per equity share) for the Financial Year 2022-23. Further, in compliance of Regulation 42 of SEBI LODR, it is hereby informed that 24th February, 2023 has been fixed as the RECORD DATE for the purpose of ascertaining the members for entitlement of the above declared Interim Dividend for the Fiscal Year 2022-23. It is further informed that the above interim dividend will be paid to the eligible Shareholders on or before 14th March, 2023. Reported Earnings • Feb 14
Third quarter 2023 earnings released: EPS: ₹6.83 (vs ₹1.66 in 3Q 2022) Third quarter 2023 results: EPS: ₹6.83. Revenue: ₹39.8b (up 46% from 3Q 2022). Net loss: ₹4.07b (down 276% from profit in 3Q 2022). Duyuru • Feb 01
NLC India Limited to Report Q3, 2023 Results on Feb 13, 2023 NLC India Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Duyuru • Jan 01
NLC India Limited Appoints Suresh Chandra Suman as Chief Financial Officer NLC India Limited at its board meeting held on December 30, 2022, designated Shri Suresh Chandra Suman, Director (Mines), as Chief Financial Officer (CFO) of the company, effective from January 1, 2023, who was entrusted with Additional Charge of Director (Finance) by Ministry of Coal, effective from January 1, 2023 for a period of six months or till the appointment of a regular incumbent to the post or until further orders, whichever is earliest. Reason for change: Director (Finance) Additional Charge designated as CFO of the Company. Dr. Suresh Chandra Suman has assumed charge as Director (Mines) of NLC India Limited on May 11, 2022. He is a Mining Engineer, graduated with distinction from the reputed Bihar Institute of Technology, Sindri, Jharkhand. Dr. S C Suman holds a Doctorate in Coal Mining Safety from IIT (Indian School of Mines), Dhanbad. He also holds a First Class Mine Manager Competency Certificate (Coal) from the Directorate General of Mines Safety and a Post Graduate Diploma in Human Resource Management from IGNOU. Dr. S C Suman started his career in Coal India Limited serving for 26 years and joined NLCIL in 2016. He held various responsible positions in CIL and NLCIL that include Manager of the Mines for 8 years and Agent of the Mines for 7 years. He was instrumental in NLCIL's venturing into coal mining by successfully awarding the work order for Greenfield project Talabira II & III OCP (20 MTPA coal mining project) in Odisha and Pachwara South Coal Block (11.5 MTPA) in Jharkhand. He implemented Talabira II & III OCP (20 MTPA) Project within timeline. Dr. S C Suman hails from Koderma, Jharkhand and is a visionary leader and strategist, experienced in Greenfield and Brownfield Mining projects, MDO Contracts, Projects & Planning, Contract Management, Underground and Opencast Mining. Valuation Update With 7 Day Price Move • Dec 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹77.30, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 13x in the Renewable Energy industry in India. Total returns to shareholders of 71% over the past three years. Duyuru • Dec 01
NLC India Limited Announces Company Secretary and Compliance Officer Changes NLC India Limited announced that Shri K. Viswanath, Company Secretary & Compliance Officer of the company has opted for Voluntary early Exit Schemeand relinquished his office on 30 November, 2022 closing of Business Hours. Further the Board of Directors of the company has designated Shri R. Udhayashankar, Deputy Chief Manager /Secretarial, as Company Secretary & Compliance Officer of the Company with effect from 1 December, 2022. Shri R. Udhayashankar is Law Graduate and Fellow Member of the Institute of Company Secretaries of India (ICSI). He is also an Associate Member of Institute of Cost Accountants of India. He also holds Post Graduate Degree in Personnel Management & Industrial Relations and Post Graduate Diploma in Human Resource Management. He has an extensive experience over 14 years in Legal, Secretarial and Compliance Management domain. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹3.01 (vs ₹1.42 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.01 (up from ₹1.42 in 2Q 2022). Revenue: ₹34.9b (up 13% from 2Q 2022). Net income: ₹4.11b (up 121% from 2Q 2022). Profit margin: 12% (up from 6.0% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 8 new directors who have joined the board in the last 3 years. Of these new board members, 4 were independent directors. The company's board is composed of: 8 new directors. 1 experienced director. 1 highly experienced director. 4 independent directors (6 non-independent directors). Chairman & MD Rakesh Kumar is the most experienced director on the board, commencing their role in 2012. Non-Official Part-time Independent Director M. Ramesh was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹3.01 (vs ₹1.42 in 2Q 2022) Second quarter 2023 results: EPS: ₹3.01 (up from ₹1.42 in 2Q 2022). Revenue: ₹35.8b (up 16% from 2Q 2022). Net income: ₹4.11b (up 121% from 2Q 2022). Profit margin: 12% (up from 6.0% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Duyuru • Nov 05
NLC India Limited to Report Q2, 2023 Results on Nov 11, 2022 NLC India Limited announced that they will report Q2, 2023 results on Nov 11, 2022 Duyuru • Oct 04
NLC India Limited Approves Declaration of Final Dividend for the Financial Year 2021-22 NLC India Limited approved that the Interim Dividend @15% INR 1.50 per equity share paid and the Final Dividend @15% (INR 1.50 per equity share) recommended by the Board of Directors of the Company, aggregating to 30% (% 3.00 per equity share) on the paid-up share capital of INR 1386,63,66,090/- of the Company be and is hereby declared as the Dividend for the Financial Year 2021-22. Upcoming Dividend • Sep 14
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 21 September 2022. Payment date: 29 October 2022. Payout ratio is a comfortable 31% and this is well supported by cash flows. Trailing yield: 3.9%. Within top quartile of Indian dividend payers (1.5%). Higher than average of industry peers (3.5%). Duyuru • Sep 08
NLC India Limited, Annual General Meeting, Sep 29, 2022 NLC India Limited, Annual General Meeting, Sep 29, 2022, at 15:00 Indian Standard Time. Agenda: To consider and adopt the Audited Financial Statements including Consolidated Financial Statements of the Company for the Financial Year ended 31 March, 2022, together with the Board's Report and the Auditor's Report thereon; to consider the Interim Dividend; to appoint a Director in the place of Shri Ramesh Chand Meena (DIN 08009394), who retires by rotation & being eligible, offers himself for reappointment; to consider & ratify the remuneration fixed to the Cost Auditors of the Company for the Financial Year 2022-23; and such other business issues. Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹4.10 (vs ₹2.58 in 1Q 2022) First quarter 2023 results: EPS: ₹4.10 (up from ₹2.58 in 1Q 2022). Revenue: ₹39.7b (up 31% from 1Q 2022). Net income: ₹5.62b (up 62% from 1Q 2022). Profit margin: 14% (up from 12% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Duyuru • Aug 03
NLC India Limited to Report Q1, 2023 Results on Aug 12, 2022 NLC India Limited announced that they will report Q1, 2023 results on Aug 12, 2022 Duyuru • Jul 12
NLC India Limited Appoints V Muralidhar Goud and Shri N K Narayanan Namboothiri as Independent Directors NLC India Limited informed that in terms of letter dated 10 July, 2019, of Ministry of Coal, Dr. V Muralidhar Goud and Shri N K Narayanan Namboothiri who were appointed as Independent Directors for a period of 3 years have relinquished the Directorship with effect from 10 July 2022 on expiry of the tenure. Reported Earnings • Jun 02
Full year 2022 earnings released: EPS: ₹8.05 (vs ₹9.47 in FY 2021) Full year 2022 results: EPS: ₹8.05 (down from ₹9.47 in FY 2021). Revenue: ₹119.5b (up 21% from FY 2021). Net income: ₹10.9b (down 17% from FY 2021). Profit margin: 9.1% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. 
