MarketFriction

NLC India Ltd

NSE NLCINDIA · BSE 513683 · Power Generation
₹253.20 -3.25%
NSE close2026-10-01
52 week range230.00 - 387.80
Market cap₹35,463 Cr.
P/E11.0
Nifty 200Nifty 500Nifty Midcap 100Midcap 150Nifty EnergyNifty CPSE Price band 20% Delivery 48.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales2,9783,1643,5413,3763,6574,4113,8363,8264,1784,4435,0424,717
Expenses2,1432,2603,2082,2942,6443,3772,9752,8912,7793,0993,2683,245
Operating Profit8359053331,0821,0131,0358619351,4001,3441,7741,471
OPM %28%29%9%32%28%23%22%24%34%30%35%31%
Other Income1,535149494362713489957497359364802228
Interest214205199189180237325299289269364382
Depreciation455446462433413458581539548597695666
Profit before tax1,7014021658221,1338309125949218431,518652
Tax %36%37%31%31%13%16%49%-41%21%14%2%33%
Net Profit1,0862541145679826964688397257241,481436
EPS in Rs7.821.810.824.036.584.823.485.754.804.8010.053.49
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,82811,09411,2899,87110,3259,93612,07016,16513,00115,32217,51918,381
Expenses5,3345,9987,4017,6147,0397,3168,11910,4259,56410,57511,96212,391
Operating Profit2,4945,0973,8872,2573,2862,6203,9515,7403,4384,7475,5585,990
OPM %32%46%34%23%32%26%33%36%26%31%32%33%
Other Income-412-1,1767132,1251,5682,5311,544-8722,1181,7661,9171,753
Interest4675885487001,1741,3139841,0128499321,2221,305
Depreciation9101,0441,2321,1211,3341,5841,9091,8011,8251,8842,3792,505
Profit before tax7052,2892,8212,5612,3452,2542,6032,0562,8823,6973,8753,933
Tax %90%-7%31%40%38%40%57%31%35%27%3%
Net Profit682,4571,9571,5371,4531,3451,1161,4261,8682,7143,7693,367
EPS in Rs0.5116.0112.7110.8710.399.477.8810.0713.3718.9025.4023.14
Dividend Payout %588%46%35%42%68%26%19%35%22%16%15%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%12%3%17%
Compounded Profit Growth56%15%2%12%
Stock Price CAGR14%33%24%-10%
Return on Equity13%11%11%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1,6781,6781,5291,5291,3871,3871,3871,3871,3871,3871,3871,387
Reserves13,19811,10410,59811,82311,38311,51812,71412,80313,78215,14417,33620,138
Borrowings6,6018,42311,47913,21520,59827,23027,23422,08622,33322,41522,42927,892
Other Liabilities4,2798,4889,88811,88011,91712,49312,59313,54215,60516,04316,75215,381
Total Liabilities25,75629,69333,49338,44845,28552,62853,92749,81853,10754,98957,90464,798
Fixed Assets6,65516,32715,99716,76517,65824,10926,44324,87524,05823,39130,69936,596
CWIP10,9852,5425,2198,39713,85612,66211,59713,02214,63617,72615,29714,293
Investments10313131313141478898
Other Assets8,01410,81212,26513,27313,75915,84415,87411,91414,40513,86411,89813,900
Total Assets25,75629,69333,49338,44845,28552,62853,92749,81853,10754,98957,90464,798
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1,0361,3011,2254,5331,6201,6474,3907,7464,1715,5128,9775,166
Cash from Investing Activity-502-1,380-4,332-4,593-6,119-5,812-2,212-763-2,499-3,059-7,160-7,549
Cash from Financing Activity-1,23163-68984,4164,163-2,037-7,001-1,735-1,985-2,1962,907
Net Cash Flow-696-16-3,17439-83-2140-18-62468-379525
Free Cash Flow-196-390-2,998-104-4,627-4,2462,0686,8321,6182,3571,709-2,474
CFO/OP117%73%34%131%94%65%180%218%75%178%202%109%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days137174158147229301276112961069870
Inventory Days
Days Payable
Cash Conversion Cycle137174158147229301276112961069870
Working Capital Days8210410370-36-15-10315619-62-61
ROCE %10%10%21%13%11%9%8%8%13%7%11%8%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters79.20%79.20%72.20%72.20%72.20%72.20%72.20%72.20%72.20%72.20%72.20%69.47%
FIIs0.95%1.21%2.39%2.18%2.53%2.86%2.91%2.95%3.25%3.22%3.61%4.62%
DIIs9.18%8.85%13.38%13.82%14.29%14.46%14.63%14.25%13.86%13.71%13.97%12.94%
Government4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%
Public6.37%6.44%7.73%7.48%6.65%6.17%5.96%6.29%6.40%6.56%5.91%8.66%
No. of Shareholders1,69,6001,90,1642,58,4982,86,7013,43,4113,48,1653,40,0213,37,5063,18,1003,06,4943,03,9193,33,052

Fundamentals

Market Cap₹ 35,463 Cr.
Current Price₹ 256
Stock P/E11.0
Book Value₹ 155
ROCE8.42 %
ROE11.9 %
Dividend Yield1.51 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)17%
Compounded Profit Growth (TTM)12%
Consolidated figures.
Valuation
Market capRs 35,110 Cr
Enterprise valueRs 62,159 Cr
P/E (TTM)10.94x
Price to book1.63x
Price to sales1.91x
EV / EBITDA8.03x
EV / EBIT11.87x
EV / sales3.38x
Price to cash flow6.80x
Earnings yield9.14%
Dividend yield1.52%
P/E, 3-year average13.53x
P/B, 3-year average1.82x
P/E, 5-year average11.24x
P/B, 5-year average1.35x
Profitability
Operating margin (excl. other income)31.72%
Operating margin (incl. other income)42.67%
EBITDA margin42.13%
Pre-tax margin21.40%
Net profit margin17.46%
Net margin, latest quarter10.27%
ROE17.50%
ROCE11.26%
ROA5.74%
ROE, 3-year average14.69%
ROCE, 3-year average10.86%
ROA, 3-year average4.61%
ROE, 5-year average12.26%
ROCE, 5-year average10.03%
ROA, 5-year average3.73%
ROIC (approx.)10.49%
Tax rate2.73%
Other income / net worth8.91%
Growth
Sales growth (latest year)14.34%
Profit growth (latest year)34.37%
Sales CAGR, 3 years2.72%
Sales CAGR, 5 years12.01%
Profit CAGR, 3 years36.15%
Profit CAGR, 5 years21.81%
Sales growth QoQ-6.46%
Profit growth QoQ-65.25%
Sales growth YoY (latest quarter)23.29%
Profit growth YoY (latest quarter)-39.28%
Per share
EPS (TTM)Rs 23.14
EPS (latest year)Rs 25.40
EPS (latest quarter)Rs 3.49
EPS, 3-year averageRs 19.23
EPS, 5-year averageRs 15.12
Book value per shareRs 155.23
Sales per shareRs 132.56
Cash flow per shareRs 37.26
Free cash flow per shareRs -17.84
Dividend per share (latest year)Rs 3.85
Dividend per share, 3-year averageRs 3.28
Dividend per share, 5-year averageRs 2.97
Dividends
Dividend payout15.16%
Dividend payout, 3-year average17.82%
Dividend payout, 5-year average21.45%
Efficiency
Asset turnover0.27x
Fixed asset turnover0.48x
Inventory turnover2.62x
Inventory days140 days
Debtor days70 days
Debtors turnover5.25x
Cash conversion cycle70 days
Working capital days-61 days
Leverage
Total debtRs 27,892 Cr
Cash and bankRs 842 Cr
Net debtRs 27,050 Cr
Debt to equity1.30x
Net debt / EBITDA3.49x
Interest coverage4.01x
Current ratio (filing 2026-03-31)0.80x
Quick ratio (filing 2026-03-31)0.58x
Trade payables (filing 2026-03-31)Rs 1,350 Cr
Owners' fund to total sources33.22%
Debt to assets43.04%
Cash flow
Cash from Operating Activity (latest year)Rs 5,166 Cr
Cash from Investing Activity (latest year)Rs -7,549 Cr
Cash from Financing Activity (latest year)Rs 2,907 Cr
Net Cash Flow (latest year)Rs 525 Cr
Free cash flow (latest year)Rs -2,474 Cr
FCFE (approx.: FCF + change in debt)Rs 2,989 Cr
Cash from ops / profit, 5 years2.90x
Sales to cash flow3.39x
Statement figures
Net sales (TTM)Rs 18,381 Cr
Net sales (latest year)Rs 17,519 Cr
Sales (latest quarter)Rs 4,717 Cr
Operating profit excl. other income (latest year)Rs 5,558 Cr
Operating profit (latest quarter)Rs 1,471 Cr
Other income (TTM)Rs 1,753 Cr
EBITDA (TTM)Rs 7,743 Cr
PBDT (TTM)Rs 6,438 Cr
Profit before tax (TTM)Rs 3,933 Cr
Tax (latest year)Rs 106 Cr
Net profit (TTM)Rs 3,209 Cr
Net profit (latest year)Rs 3,522 Cr
Net profit (latest quarter)Rs 484 Cr
Depreciation (TTM)Rs 2,505 Cr
Depreciation (latest quarter)Rs 666 Cr
Interest (TTM)Rs 1,305 Cr
Cost of goods sold (latest year)Rs 6,106 Cr
Total expenditure (latest year)Rs 11,962 Cr
Total income (latest year)Rs 19,437 Cr
Share capitalRs 1,387 Cr
ReservesRs 20,138 Cr
Shareholders' fundsRs 21,525 Cr
Total assetsRs 64,798 Cr
Net blockRs 36,596 Cr
Capital work in progressRs 14,293 Cr
InvestmentsRs 8 Cr
ReceivablesRs 3,338 Cr
InventoryRs 2,335 Cr
Other liabilitiesRs 15,381 Cr
Shares outstanding (crore)138.66
Ownership
Promoter holding69.47% (-2.73 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 10.9 is at the 65th percentile of its own 9.4-year range (median 6.7, low 3.8, high 25.8).
P/B 1.63 is at the 69th percentile (median 0.84).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNLCINDIANifty 50Difference
1 week-3.8%-2.8% -1.0 pts
1 month-7.7%-6.8% -0.9 pts
3 months-19.2%-7.6% -11.6 pts
6 months-5.7%+0.4% -6.1 pts
1 year-9.4%-9.9% +0.5 pts
2 years-7.2%-13.6% +6.4 pts
3 years+87.6%+14.2% +73.5 pts
5 years+310.4%+27.9% +282.5 pts
96 mutual fund schemes hold about ₹3,324 Cr. Over three months 20 bought more and 9 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Small Cap Fund0.89%738 -0%
Kotak Multi Cap Fund1.65%484 -5%
Nippon India Growth Mid Cap Fund0.91%476 -3%
Kotak Multi Asset Allocation Fund1.60%244 -4%
Nippon India ELSS Tax Saver Fund1.35%199 +4%
Nippon India Multi Cap Fund0.35%195 +3%
Kotak Equity Savings Fund(M1.10%117 -2%
Mirae Asset Small Cap Fund1.78%102 +74%
Nippon India Power & Infra Fund0.80%64 -18%
Mirae Asset Flexi Cap Fund1.42%64 +100%
Nippon India Value Fund0.70%63 +2%
Aditya Birla SL Small Cap Fund0.91%57 +101%
HDFC Large & Mid Cap Fund0.17%52 -0%
Kotak Special Opportunities Fund2.83%48 -12%
Baroda BNP Paribas Large & Mid Cap Fund2.07%39 -2%
Nippon India Multi Asset Allocation Fund0.18%32 -9%
Baroda BNP Paribas Mid Cap Fund1.20%32 +45%
Bandhan Small Cap Fund0.08%27 -15%
Baroda BNP Paribas Flexi Cap Fund1.89%24 +0%
Baroda BNP Paribas Multi Asset Fund1.46%21 +0%
Baroda BNP Paribas Small Cap Fund1.63%21 -1%
Baroda BNP Paribas Energy Opportunities Fund2.98%19 +10%
Baroda BNP Paribas Focused Fund2.55%17 +16%
ITI Focused Fund2.52%16 -8%
LIC MF Infra Fund1.31%15 -0%

Red flags

F-score 7 of 8
lookProfit leans on other income Other income was 49% of pre-tax profit in 2026
lookAuditor change Auditor change 2026-09-09: NLC India Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2025-06-23Mourougaya MadavaradjouImmediate relativesell4,000Rs 0.09 CrMarket Sale
2024-03-11The President of India acting throPromotersother97,064,562Rs 2057.77 CrOthers
2023-12-26Vanchinathan TEmployees/Designated Employesell3,985Rs 0.10 CrMarket Sale
2023-12-20Mourougaya MadavaradjouEmployees/Designated Employebuy4,000Rs 0.09 CrMarket Purchase
2023-12-20N ChellamuthuEmployees/Designated Employesell1,500Rs 0.03 CrMarket Sale
2023-12-15N ChellamuthuEmployees/Designated Employesell200Rs 0.00 CrMarket Sale
2020-02-03President of IndiaPromotersother20,853,522Rs 119.73 CrOff Market
2019-10-10President of IndiaPromotersother2,046,045Rs 10.86 CrOff Market
2019-07-22President of IndiaPromotersother14,664,119Rs 86.97 CrOff Market
2019-03-25President of IndiaPromotersother9,831,731Rs 74.77 CrOff Market
2019-02-21President of IndiaPromotersother2,477,736Rs 14.97 CrOff Market
2018-12-04MINISTRY OF COAL, Government of IPromotersother112,611,825Rs 990.98 CrOthers
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹4,717 Cr +23.3% vs Jun 2025. Net profit ₹436 Cr -48.0%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-22Dividend - Re 0.25 Per Share
2026-01-20Interim Dividend - Rs 3.60 Per Share
2025-09-19Dividend - Rs 1.50 Per Share
2025-02-07Interim Dividend - Rs 1.50 Per Share
2024-09-17Annual General Meetingdividend - Re 1.50 Per Share
2024-02-16Interim Dividend - Rs 1.50 Per Share
2023-09-18Annual General Meeting/Dividend - Rs 2 Per Share
2023-02-24Dividend - Rs 1.50 Per Share
2022-09-21Annual General Meeting/Dividend - Rs 1.50 Per Share
2022-03-14Interim Dividend - Rs 1.50 Per Share
2021-09-21 Annual General Meeting/Dividend - Rs 1.50 Per Share
2021-02-17 Interim Dividend - Re 1 Per Share
2020-09-21 Annual General Meeting
2020-03-05 Interim Dividend - Rs 7.06 Per Share
2019-07-24 Annual General Meeting
2019-03-26 Interim Dividend - Rs 4.53 Per Share
2018-10-23 Buyback
2018-07-20 Annual General Meeting/Dividend- Re 0.27 Per Share
2018-03-26 Interim Dividend - Rs 4.23 Per Share (Purpose Revised)
2017-09-21 Annual General Meeting
2017-03-24 Interim Dividend Rs 7.34 Per Share (Purpose Revised)
2017-02-09 Buy Back
2016-09-07 Annual General Meeting/Dividend-Rs 1.20 Per Share
2016-03-14 Interest Dividend - Re 0.30/- Per Share
2016-02-11 Interim Dividend - Rs 1.50/- Per Share
2015-09-08 Annual General Meeting/ Dividend Re 1/- Per Share
2015-02-26Interim Dividend - Re 1.80/- Per Share
2014-09-11Annual General Meeting / Final Dividend - Rs 1.80/- Per Share
2014-03-26Interim Dividend - Re 1/- Per Share (Purpose Revised)
2013-08-26Annual General Meeting / Dividend - Rs 1.80/- Per Share
2013-03-11Interim Dividend Re 1 Per Share
2012-08-30Annual General Meeting/Dividend Rs. 2.80 Per Share
2011-08-30Annual General Meeting And Dividend Rs.2.30 Per Share
2010-08-18Annual General Meeting And Final Dividend Re.1/- Per Share
2010-03-15Int Div-Re.1/- Per Share
2009-08-20Agm/Div-Rs.2/- Per Share
2008-08-14Agm/Dividend - 10%
2008-02-05Interim Dividend - 10%
2007-08-16Agm/Dividend-12%
2006-08-11Agm
DateTypeWhat it says
2026-10-01Shareholder meetingVoting results.
2026-09-30General UpdatesGeneral Updates
2026-09-29Press ReleaseA press release dated September 29, 2026, titled "NLCIL aims to build an energy enterprise that is resilient, diversified and capable of contributing ...
2026-09-29Shareholder meetingProceedings of Annual General Meeting held on September 29, 2026
2026-09-29General UpdatesGeneral Updates
2026-09-29Board meeting outcomeOutcome of Board Meeting held on September 29, 2026. Incorporation of a Joint Venture Company with National Aluminium Company Limited(NALCO) with equi...
2026-09-28General UpdatesGeneral Updates
2026-09-23General UpdatesGeneral Updates
2026-09-22General UpdatesGeneral Updates
2026-09-18CorrigendumCorrigendum to Notice of Annual General Meeting to be held on September 29, 2026
2026-09-17CessationCessation of Mr Sanoj Kumar Jha as Chairman & Managing Director of the company w.e.f. September 17, 2026.
2026-09-17AppointmentAppointment of Dr Prasanna Kumar Acharya as Chairman & Managing Director of the company w.e.f. September 17, 2026.
2026-09-17General UpdatesGeneral Updates
2026-09-09Change in AuditorsChange in Auditors of the company.
2026-09-08General UpdatesGeneral Updates
2026-09-08UpdatesRegulation 36(1)(b) of the SEBI (Listing Obligationsand Disclosure Requirements) Regulations, 2015, a copy of the lettercontaining the web-link, inclu...
2026-09-08General UpdatesBRSR Report for FY 2025-26
2026-09-07Shareholder meetingNotice of Annual General Meeting to be held on September 29, 2026
2026-09-05Updates. Book Closure
2026-09-05Record DateRecord date for the purpose of Dividend is 22-Sep-2026.
2026-09-05Board meeting outcomeOutcome of Board Meeting held on September 05, 2026.
2026-09-04General UpdatesGeneral Updates
2026-09-03General UpdatesGeneral Updates
2026-09-03Credit RatingCredit Rating
2026-08-31General UpdatesGeneral Updates
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of NLC India Ltd?

NLC India Ltd (NLCINDIA) has a market capitalisation of Rs 35,463 Cr. at the 2026-10-01 close.

What is the P/E ratio of NLC India Ltd?

NLC India Ltd trades at a P/E of 11.0 on trailing twelve-month profit, at the 2026-10-01 close.

What were NLC India Ltd's latest quarterly results?

In the Jun 2026 quarter, NLC India Ltd sales was Rs 4,717 Cr (+23.3% vs Jun 2025) and net profit was Rs 436 Cr.

What is the 52-week high and low of NLC India Ltd?

The 52-week high is Rs 387.80 and the 52-week low is Rs 230.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03