NALCO Q1 revenue climbs 39% as higher aluminium prices lift PAT to ₹20.02b

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National Aluminium Company Limited (NALCO) reported a sharp increase in revenue and profit for the quarter ended June 30, 2026, driven by higher aluminium prices and improved operational efficiency. The state-owned aluminium producer also recommended a final dividend of INR 1 (USD 0.011) per equity share for FY26, taking the total dividend for the year to INR 11.50 (USD 0.12) per share.

On a standalone basis, revenue from operations rose 39.28 per cent year-on-year to INR 53 billion (USD 557 million) from INR 38 billion (USD 400 million), while total income increased 39.30 per cent to INR 54.8 billion (USD 575 million). Profit before tax climbed to INR 26.45 billion (USD 278 million) from INR 14.3 billion (USD 150 million) in the corresponding quarter last year, while profit after tax nearly doubled to INR 20 billion (USD 210 million) from INR 10.6 billion (USD 111 million). Earnings per share increased to INR 5.34 (USD 0.056) from INR 3.60 (USD 0.038).

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Aluminium business drives quarterly earnings

NALCO's aluminium segment remained the primary contributor to quarterly performance, generating revenue of INR 41.5 billion (USD 436 million) and a segment result of  INR 26 billion (USD 273 million). The chemicals business reported revenue of INR 15.7 billion (USD 165 million) with a segment result of INR 2.7 billion.

The company also reported strong consolidated results, with revenue from operations rising 39.30 per cent year-on-year to INR 53 billion and total income increasing 39.35 per cent to INR 5,476 crore (USD 557 million). Consolidated profit before tax stood at INR 26.5 billion (USD 278 million).

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Final dividend takes FY26 payout to INR 11.50 per share

NALCO's board recommended a final dividend of INR 1 (USD 0.011) per equity share, representing 20 per cent of the INR 5 face value, subject to shareholder approval at the company's 45th Annual General Meeting scheduled for August 31.

The proposed payout is in addition to three interim dividends totalling INR 10.50 (USD 0.011) per share already paid during FY26, taking the total dividend for the financial year to INR 11.50 (USD 0.12) per share, or 230 per cent of the face value. The record date for the final dividend has been fixed as August 24.

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Joint ventures, captive power project and other developments

The board approved the appointment of M/s Tanmaya S. Pradhan & Co. and M/s S Dhal & Co. as cost auditors for FY27.

NALCO said revenue from its two wind power plants in Rajasthan has not been recognised since April 1, 2019, due to the absence of a renewed power purchase agreement, with the matter currently pending before the Rajasthan High Court.

The company also provided updates on its joint ventures, which include Angul Aluminium Park, GACL-NALCO Alkalies & Chemicals, Khanij Bidesh India, and Utkarsha Aluminium Dhatu Nigam Limited. NALCO confirmed that it has received approval from the Ministry of Mines to wind up Utkarsha Aluminium Dhatu Nigam Limited because of commercial unviability. Separately, the company has entered into a 50:50 joint venture with NLC India Limited to develop a 1,080 MW captive thermal power plant at Angul, Odisha.