NALCO's record FY26 sets stage for major aluminium expansion push

National Aluminium Company Ltd (NALCO) has reported its highest-ever operational and financial performance for FY2025-26 as the state-run aluminium producer moves ahead with major expansion projects and a broader push into critical minerals and resource security.

National Aluminium Company Ltd (NALCO) has delivered its highest-ever operational and financial performance in FY2025-26, with the state-run aluminium producer also preparing to expand production capacity across its alumina, bauxite, aluminium and captive power operations.

Addressing NALCO's 45th Annual General Meeting, Chairman-cum-Managing Director Brijendra Pratap Singh said the company achieved record performance across key operational parameters during the year, resulting in its highest-ever revenue from operations, profit before tax and profit after tax.

NALCO's official FY2025-26 performance release confirms record production and sales across several major areas, including bauxite excavation, alumina production, cast metal, coal and aluminium sales.

Record performance across aluminium value chain

NALCO also recorded peak sales in major segments, including domestic alumina and aluminium metal, reflecting the company's strong operating performance during the year.

The company's FY2025-26 production records included 77.01 lakh tonnes of bauxite excavation, 22.75 lakh tonnes of calcined alumina and 4.72 lakh tonnes of cast metal. It also recorded 40 lakh tonnes of coal production and its highest-ever net power generation of 6,953 million units.

On the sales side, NALCO reported record total alumina sales of 14.46 lakh tonnes and aluminium metal sales of 4.74 lakh tonnes, including 4.61 lakh tonnes of domestic aluminium metal sales.

The record operating performance comes as NALCO looks to expand capacity to meet what Singh described as a positive outlook for aluminium demand in India.

To know the production, demand and consumption forecasts on bauxite and alumina, explore the report "Global Bauxite & Alumina Market Forecast to 2036: Supply–Demand, Trade Flows & Price Outlook"

NALCO plans major capacity expansion

The company is pursuing several projects across its aluminium value chain.

Key projects include the fifth stream expansion of its alumina refinery at Damanjodi, development of the Pottangi bauxite mines, augmentation of captive coal capacity, and expansion of the aluminium smelter and captive power plant at Angul.

NALCO's official updates also show that the company is progressing with projects linked to smelter improvement and captive power capacity.

The expansion plans are aimed at increasing production capacity while strengthening NALCO's position across the aluminium value chain.

Shareholders approve final dividend

NALCO shareholders approved a final dividend of INR 1 per equity share, involving a payout of INR 183.66 crore (USD 1.93 million).

This came on top of an interim dividend of INR 10.50 per share, amounting to INR 1,928.46 crore (USD 20.31 million), which was paid in three tranches during FY2025-26.

The combined final and interim dividend payouts therefore amount to INR 2,112.12 crore (USD 22.25 million).

The USD conversions above use the September 1, 2026 INR/USD exchange rate of 0.0105321 USD per INR, retrieved for today's date. The underlying dividend figures are from the supplied source; NALCO's official filings also confirm the INR 183.66 crore final-dividend recommendation.

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Critical minerals move up NALCO's agenda

Beyond aluminium capacity, Singh highlighted NALCO's plans to strengthen its presence in critical minerals.

The company is also focusing on resource and energy security, circular economy initiatives, digital transformation, waste-to-wealth projects and renewable energy.

According to Singh, these initiatives are intended to improve NALCO's competitiveness and operational resilience while creating sustainable long-term value for shareholders.

The critical-minerals push also builds on NALCO's broader R&D efforts around industrial-residue valorisation and mineral recovery, including work on recovering valuable materials and rare earth elements from industrial residues.

'A landmark year' for NALCO

Singh described FY2025-26 as a landmark year for the company and attributed the record performance to operational resilience, strategic planning and the efforts of NALCO's workforce.

“The record performance of FY 2025–26 is a collective achievement. Behind every milestone achieved by NALCO is the commitment, capability and collective spirit of its people,” he said.

The AGM was conducted through video conferencing and attended by NALCO's functional directors, an independent director, chief vigilance officer, senior officials from the Ministry of Mines and the company secretary.

Singh also expressed gratitude to the Ministry of Mines and the Odisha government for their continued support, while acknowledging the role of local administrations and communities around NALCO's operating areas.

He also thanked the company's employees, contractual workers, shareholders, investors, customers, suppliers, business associates, consultants and joint-venture partners for their continued support.

With FY2025-26 setting new operational records, NALCO is now moving into its next stage with a combination of capacity expansion, critical-mineral development, resource security and technology-led initiatives aimed at strengthening its position across the aluminium value chain.

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