National Aluminium Company logo

National Aluminium Company share price

NSE: NATIONALUMBSE: 532234Non - Ferrous MetalsMid Cap

National Aluminium Company Limited · Face value ₹5 · Listed Oct 1992 on BSE, Apr 1999 on NSE
Last close ₹314.55down ₹8.95 (2.77%)BSE ₹314.60

Share price at the NSE close on 30 Oct 2026. Previous close ₹323.50.

30 Oct: open ₹320.40, high ₹321.35, low ₹314.10

52-week range of traded prices to 30 Oct 2026
₹228.00Low, 7 Nov 2025₹445.15High, 27 Apr 2026
Market cap
₹57,771 Cr151st largest listed
P/E
8.56
P/B
2.67
Dividend yield
3.66%
ROE
34.3%
ROCE
38.9%
Debt to equity
0.00
Volume, NSE
32,08,10254.0% delivered

National Aluminium Company share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

+32.1%over a year · Nifty Metal +9.8% · Nifty 500 −8.2%

Results20-session average 50,19,085 shares a day, 46.3% delivered

About National Aluminium Company

National Aluminium Company Limited (NALCO) mines bauxite, refines it into alumina and smelts aluminium in Odisha, with its own coal mines and power plant.12 It sells alumina, and aluminium as ingots, billets, wire rods and rolled products, to processors in India and to buyers abroad.345 It is a Navratna company (a status that gives a state-owned company's board more freedom to invest) under India's Ministry of Mines.6

Its bauxite mines and alumina refinery are at Damanjodi in Koraput district, and its smelter, captive power plant (one that supplies its own operations) and Utkal-D&E coal mines at Anugola.712 It also runs wind power plants in Andhra Pradesh, Rajasthan and Maharashtra, and port facilities at Visakhapatnam for alumina exports.89

It was incorporated on 7 Jan 1981, and its shares were listed on BSE in 1992 and on NSE in 1999.6 It had 4,864 employees at the end of March 2026.10

The Government of India held 51.28% of its shares at the end of June 2026.11 Its joint ventures include GACL-NALCO Alkalies & Chemicals (40% owned), which supplies caustic soda to its refinery under a long-term agreement, and Khanij Bidesh India (40% owned), which seeks lithium and cobalt assets abroad.121314

National Aluminium Company key points

Results

  • Revenue was ₹17,843 crore in the year to Mar 2026, against ₹16,788 crore a year earlier, and EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹8,613 crore, against ₹7,922 crore, both company records.15
  • Profit after tax was ₹5,815.76 crore on a standalone basis in the year to Mar 2026, against ₹5,324.67 crore a year earlier. Consolidated profit for the year was ₹5,797.01 crore.1617
  • On its earnings call of 3 Aug 2026, the company said total income for the quarter to Jun 2026 grew to ₹5,400 crore from ₹3,930 crore a year earlier, and that profit before tax grew about 88% and EBITDA about 78%.18
  • On 28 Sep 2026 the company said it had paid a dividend of ₹2,112.12 crore for the year to Mar 2026, 230% of the ₹5 face value and its highest; ₹1,083.06 crore went to the Government of India.19

Business segments

  • Consolidated product revenue by segment, ₹ crore2021
    Itemyear to Mar 2026year to Mar 2025
    Aluminium12,889.6511,042.22
    Chemical (alumina and hydrate)4,809.445,593.83
    The average LME (London Metal Exchange) price rose 26% to $2,767, and the chemical FOB price (the alumina export price before shipping costs) fell 37% to $376.

Where revenue comes from

  • Turnover by market, ₹ crore2223
    Itemyear to Mar 2026year to Mar 2025
    India13,027.6911,145.24
    Exports4,701.545,516.97
    The company sold in 23 Indian states and 11 countries, and exports were 27% of turnover.

Plants and capacity

  • Installed capacity124
    Itemyear to Mar 2026
    Panchpatmali bauxite mines68.25 lakh tonnes a year
    Damanjodi alumina refinery21 lakh tonnes a year
    Anugola aluminium smelter4.60 lakh tonnes a year
    Captive power plant1,200 MW
    Utkal-D&E coal mines40 lakh tonnes a year
    Wind power198 MW
  • Records set in the year to Mar 2026, lakh tonnes2526
    Itemyear to Mar 2026
    Alumina hydrate produced23.00
    Cast metal produced4.72
    Alumina sold14.46
    Aluminium metal sold4.74

Expansion and capital spending

  • The company said on its call of 3 Aug 2026 that its 5th refinery stream, adding 1.0 million tonnes a year to 2.1 million tonnes at a projected ₹5,677.4 crore, began pre-commissioning in June 2026 and targets production from November or December.272829
  • On its earnings call of 3 Aug 2026, the company said it aims to finish its 0.5 million tonne smelter and power plant by December 2030 at an overall cost of around ₹25,000 crore; its finance director put the company's share at around ₹24,000 crore.3031
  • In its presentation of 14 Sep 2026, the company said approach road work for its Pottangi bauxite mine (3.5 million tonnes a year) was pending because of local agitation.28
  • Consolidated capital spending was ₹2,071.78 crore in the year to Mar 2026. On its earnings call of 3 Aug 2026, the company said it has no debt and cash reserves of around ₹10,500 crore.3233

What the company expects

  • On its earnings call of 3 Aug 2026, the company said it plans to sell about 16 lakh tonnes of alumina in the year to Mar 2027, against about 14 lakh tonnes a year earlier, including about 2 lakh tonnes from the new refinery stream.2934
  • On its earnings call of 3 Aug 2026, the company said it expects capital spending of around ₹1,500 crore to ₹1,800 crore in the year to Mar 2027 and around ₹2,500 crore the year after.35

Recent events

  • On 7 Sep 2026 the company licensed Emirates Global Aluminium's DX+ Ultra smelting technology for its 0.5 million tonne a year expansion at Anugola, which it says would lift its aluminium capacity to about 1 million tonnes a year.3637
  • On 8 Jul 2026 the company agreed with NLC India to form a 50:50 joint venture company to develop a 1,080 MW coal-fired captive power plant at Anugola, which is to sell all its power to the company under a 25-year agreement.38
  • On 9 Dec 2025 the board awarded Dilip Buildcon a 25-year contract to develop and operate the Pottangi bauxite mines at a base mining charge of ₹423.00 a tonne, a contract the company put at ₹5,032 crore.3940

Litigation and regulatory matters

  • In comments of July 2026, the Comptroller and Auditor General (the government's auditor) said the accounts under-provided ₹519.18 crore for closing the Utkal-D&E coal mines, overstating profit for the year to Mar 2026 by ₹44.45 crore; the company disagreed.4142
  • The Odisha High Court struck down Odisha's 2005 tax on mineral-bearing land in December 2005; the state's appeal was pending in the Supreme Court as of the auditor's comments of July 2026.4341
  • The auditor noted a Supreme Court ruling of 25 Jul 2024, in another case, upholding a state's power to tax mineral rights; the company says it cannot reliably estimate the possible liability.4142

Last updated

All 43 sources, each with its page
  1. 1. Annual report, 7 Aug 2026, page 25
  2. 2. Annual report, 7 Aug 2026, page 174
  3. 3. Investor presentation, 14 Sep 2026, page 8
  4. 4. Annual report, 7 Aug 2026, page 93
  5. 5. Annual report, 7 Aug 2026, page 134
  6. 6. Investor presentation, 14 Sep 2026, page 6
  7. 7. Annual report, 7 Aug 2026, page 93
  8. 8. Annual report, 7 Aug 2026, page 146
  9. 9. Investor presentation, 14 Sep 2026, page 7
  10. 10. Annual report, 7 Aug 2026, page 48
  11. 11. Investor presentation, 14 Sep 2026, page 23
  12. 12. Investor presentation, 14 Sep 2026, page 17
  13. 13. Annual report, 7 Aug 2026, page 46
  14. 14. Annual report, 7 Aug 2026, page 90
  15. 15. Investor presentation, 14 Sep 2026, page 11
  16. 16. Annual report, 7 Aug 2026, page 209
  17. 17. Annual report, 7 Aug 2026, page 273
  18. 18. Earnings call, 3 Aug 2026, page 3
  19. 19. Exchange filing, 28 Sep 2026, page 5
  20. 20. Annual report, 7 Aug 2026, page 320
  21. 21. Annual report, 7 Aug 2026, page 79
  22. 22. Annual report, 7 Aug 2026, page 79
  23. 23. Annual report, 7 Aug 2026, page 93
  24. 24. Annual report, 7 Aug 2026, page 29
  25. 25. Investor presentation, 14 Sep 2026, page 10
  26. 26. Annual report, 7 Aug 2026, page 27
  27. 27. Annual report, 7 Aug 2026, page 46
  28. 28. Investor presentation, 14 Sep 2026, page 15
  29. 29. Earnings call, 3 Aug 2026, page 4
  30. 30. Earnings call, 3 Aug 2026, page 8
  31. 31. Earnings call, 3 Aug 2026, page 11
  32. 32. Annual report, 7 Aug 2026, page 48
  33. 33. Earnings call, 3 Aug 2026, page 20
  34. 34. Earnings call, 3 Aug 2026, page 5
  35. 35. Earnings call, 3 Aug 2026, page 11
  36. 36. Exchange filing, 7 Sep 2026, page 2
  37. 37. Exchange filing, 7 Sep 2026, page 3
  38. 38. Exchange filing, 8 Jul 2026, page 2
  39. 39. Exchange filing, 9 Dec 2025, page 1
  40. 40. Exchange filing, 10 Dec 2025, page 1
  41. 41. Annual report, 7 Aug 2026, page 190
  42. 42. Annual report, 7 Aug 2026, page 192
  43. 43. Annual report, 7 Aug 2026, page 191

Results

Consolidated; ₹ crore.National Aluminium Company quarterly results

Revenue growth, 12 months
+9.0%
Net profit growth, 12 months
+17.8%

Quarter to Jun 2026, against the quarter before

Revenue
₹5,302 Crup 5.78%
Net profit
₹2,003 Crup 16.30%
Net margin
37.8%

Revenue by quarter

₹4,001 CrSep 24₹4,662 CrDec 24₹5,268 CrMar 25₹3,807 CrJun 25₹4,292 CrSep 25₹4,731 CrDec 25₹5,013 CrMar 26₹5,302 CrJun 26
Peak revenue ₹5,302 Cr, quarter to Jun 2026; lowest ₹3,807 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹1,046 CrSep 24₹1,566 CrDec 24₹2,067 CrMar 25₹1,049 CrJun 25₹1,430 CrSep 25₹1,595 CrDec 25₹1,722 CrMar 26₹2,003 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue4,0014,6625,2683,8074,2924,7315,0135,302
Net profit1,0461,5662,0671,0491,4301,5951,7222,003
Net margin26.1%33.6%39.2%27.6%33.3%33.7%34.4%37.8%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit

  • Aluminium₹12,945 Crup 16.48%65.9%
  • Chemicals₹6,694 Crdown 12.00%34.1%
The pill is the change in revenue on the year before; the share is of all the businesses together.

Valuation

Today, against the company's own history.National Aluminium Company PE ratio and valuation

Price to earnings

At or below today's level on 29% of 2,479 trading days over the last 10 years.

LowestHighest
Its median12.85Industry median21.17
Price to book

At or below today's level on 87% of 1,975 trading days since Nov 2018.

LowestHighest
Its median1.33Industry median1.83
Dividend yield

At or below today's level on 30% of 2,479 trading days over the last 10 years.

LowestHighest
Its median4.95%Industry median0.44%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+122.9%+10.0%+99.9%3.0%
3 years+74.2%+59.3%+6.8%4.1%
5 years+52.8%+35.3%+9.5%4.7%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.National Aluminium Company shareholding pattern

Shareholding by group

  • Promoters51.28%
  • Foreign institutions21.97%
  • Indian institutions11.71%
  • Individuals and others15.04%
Holder
PRESIDENT OF INDIAPromoter51.28%
LIFE INSURANCE CORPORATION OF INDIA P&GS FundInsurance companies1.51%
SBI LIFE INSURANCE CO LTDInsurance companies1.09%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.02 pts, Indian institutions +0.49 pts, mutual funds −0.04 pts.

Mutual fund holdings

250 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 141 of the 162 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 250 funds holding National Aluminium Company

Bought for the first time
7
Bought again
6
Added
82
Cut
80
Held unchanged
74
Sold out
4
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

National Aluminium Company competitors and peers

Aluminium, 18 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to National Aluminium Company in market cap.Metal stocks

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Hindalco Industries logoHindalco IndustriesHINDALCO1,98,81212.121.46+20.3%−3.1%12.6%13.6%0.57%
Vedanta Aluminium Metal logoVedanta Aluminium MetalVAML1,39,386–6.05––––2.24%
Arfin India logoArfin IndiaARFIN1,51081.868.86––11.3%15.0%0.13%
MMP Industries logoMMP IndustriesMMP1,161–3.35+21.4%––11.5%0.44%
Maan Aluminium logoMaan AluminiumMAANALU52437.351.91−1.8%−5.5%6.2%3.9%0.00%
Msafe Equipments logoMsafe EquipmentsMSAFE486–4.96––––0.00%
Jainik Power Cables logoJainik Power CablesJAINIK25217.992.97––16.5%–0.00%
P.G.Foils logoP.G.FoilsPGFOILQ219–0.66−18.6%−114.6%−1.0%–0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.National Aluminium Company dividend history

Dividend per share, ₹, restated for later splits and bonuses

2.8Mar 175.7Mar 185.8Mar 191.5Mar 203.5Mar 216.5Mar 224.5Mar 235Mar 2411Mar 2512Mar 26
Highest ₹11.50 a share, year to Mar 2026.
Ex-dateTypePer share
24 Aug 2026Final₹1.00
8 May 2026Interim₹2.00
6 Feb 2026Interim₹4.50
14 Nov 2025Interim₹4.00
19 Sep 2025Final₹2.50
14 Feb 2025Interim₹4.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.National Aluminium Company announcements

National Aluminium Company share price by year

Each calendar year to 2025.National Aluminium Company share price history

YearClose at year endChangeHighest closeLowest close
2025314.30+48.5%316.60143.22
2024211.70+60.4%256.85123.75
2023131.95+64.1%131.9576.25
202280.40−20.4%130.0067.10
2021101.00+134.3%121.7043.45
202043.10−1.3%48.2526.90
201943.65−33.7%65.5538.00
201865.80−23.5%88.0557.15
201786.00+31.7%95.7061.60
201665.30+63.5%69.2531.05
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 2026322.00323.60319.05323.50321.7327,45,72342.2%
28 Oct 2026315.95325.45310.40323.50320.4758,20,81328.1%
27 Oct 2026313.55316.80308.10308.20310.581,00,09,38770.8%
26 Oct 2026300.10312.40297.85312.40307.3445,49,69931.6%
23 Oct 2026303.05303.95293.00301.75297.7563,82,39538.0%
22 Oct 2026307.60311.40303.35310.90308.0438,96,23946.0%
21 Oct 2026318.05319.05307.75312.20311.5937,86,47951.4%
19 Oct 2026324.25324.25316.90318.00319.7528,26,00347.4%
16 Oct 2026318.35326.95317.50324.25324.3951,83,33645.2%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
15 Mar 2011Bonus0.5000Holders received 1 bonus share for every 1 held.
15 Mar 2011Split0.5000Each share became 2.
24 Oct 2008Price move–Between two trading sessions the price moved by a fifth or more. The Nifty 500 moved 5% or more the same way over the same sessions. Not adjusted for.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson and managing director and CEO
Brijendra Pratap Singh
At the end of the quarter to Sep 2026
NSE symbol
NATIONALUM
BSE code
532234
ISIN
INE139A01034
Industry
Non - Ferrous Metals
CIN
L27203OR1981GOI000920
Corporate identity number, the registrar of companies' code for it
Incorporated
1981
Registered office
Plot No. P/1, Nalco Bhavan, Nayapalli, Bhubaneswar 751013, Orissa
Share registrar
Bigshare Services Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments