National Aluminium Company share price
NSE: NATIONALUMBSE: 532234Non - Ferrous MetalsMid Cap
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
- Next results date: the board meets on 2 Nov 2026 to consider: financial results and dividend. The notice · Results calendar
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹57,771 Cr151st largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 8.56
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 2.67
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 3.66%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 34.3%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 38.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.00
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 32,08,10254.0% 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, ₹ crore2021The 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.
Item year to Mar 2026 year to Mar 2025 Aluminium 12,889.65 11,042.22 Chemical (alumina and hydrate) 4,809.44 5,593.83
Where revenue comes from
Plants and capacity
- Installed capacity124
Item year to Mar 2026 Panchpatmali bauxite mines 68.25 lakh tonnes a year Damanjodi alumina refinery 21 lakh tonnes a year Anugola aluminium smelter 4.60 lakh tonnes a year Captive power plant 1,200 MW Utkal-D&E coal mines 40 lakh tonnes a year Wind power 198 MW - Records set in the year to Mar 2026, lakh tonnes2526
Item year to Mar 2026 Alumina hydrate produced 23.00 Cast metal produced 4.72 Alumina sold 14.46 Aluminium metal sold 4.74
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. Annual report, 7 Aug 2026, page 25
- 2. Annual report, 7 Aug 2026, page 174
- 3. Investor presentation, 14 Sep 2026, page 8
- 4. Annual report, 7 Aug 2026, page 93
- 5. Annual report, 7 Aug 2026, page 134
- 6. Investor presentation, 14 Sep 2026, page 6
- 7. Annual report, 7 Aug 2026, page 93
- 8. Annual report, 7 Aug 2026, page 146
- 9. Investor presentation, 14 Sep 2026, page 7
- 10. Annual report, 7 Aug 2026, page 48
- 11. Investor presentation, 14 Sep 2026, page 23
- 12. Investor presentation, 14 Sep 2026, page 17
- 13. Annual report, 7 Aug 2026, page 46
- 14. Annual report, 7 Aug 2026, page 90
- 15. Investor presentation, 14 Sep 2026, page 11
- 16. Annual report, 7 Aug 2026, page 209
- 17. Annual report, 7 Aug 2026, page 273
- 18. Earnings call, 3 Aug 2026, page 3
- 19. Exchange filing, 28 Sep 2026, page 5
- 20. Annual report, 7 Aug 2026, page 320
- 21. Annual report, 7 Aug 2026, page 79
- 22. Annual report, 7 Aug 2026, page 79
- 23. Annual report, 7 Aug 2026, page 93
- 24. Annual report, 7 Aug 2026, page 29
- 25. Investor presentation, 14 Sep 2026, page 10
- 26. Annual report, 7 Aug 2026, page 27
- 27. Annual report, 7 Aug 2026, page 46
- 28. Investor presentation, 14 Sep 2026, page 15
- 29. Earnings call, 3 Aug 2026, page 4
- 30. Earnings call, 3 Aug 2026, page 8
- 31. Earnings call, 3 Aug 2026, page 11
- 32. Annual report, 7 Aug 2026, page 48
- 33. Earnings call, 3 Aug 2026, page 20
- 34. Earnings call, 3 Aug 2026, page 5
- 35. Earnings call, 3 Aug 2026, page 11
- 36. Exchange filing, 7 Sep 2026, page 2
- 37. Exchange filing, 7 Sep 2026, page 3
- 38. Exchange filing, 8 Jul 2026, page 2
- 39. Exchange filing, 9 Dec 2025, page 1
- 40. Exchange filing, 10 Dec 2025, page 1
- 41. Annual report, 7 Aug 2026, page 190
- 42. Annual report, 7 Aug 2026, page 192
- 43. Annual report, 7 Aug 2026, page 191
Results
Consolidated; ₹ crore.National Aluminium Company quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +9.0%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +17.8%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹5,302 Crup 5.78%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹2,003 Crup 16.30%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 37.8%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,001 | 4,662 | 5,268 | 3,807 | 4,292 | 4,731 | 5,013 | 5,302 |
| Net profit | 1,046 | 1,566 | 2,067 | 1,049 | 1,430 | 1,595 | 1,722 | 2,003 |
| Net margin | 26.1% | 33.6% | 39.2% | 27.6% | 33.3% | 33.7% | 34.4% | 37.8% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹17,843 Crup 6.29%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹5,797 Crup 10.04%
- Net margin
- 32.5%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 8,050 | 9,618 | 11,499 | 8,472 | 8,956 | 14,181 | 14,255 | 13,149 | 16,788 | 17,843 |
| Net profit | 668 | 1,342 | 1,734 | 136 | 1,299 | 2,951 | 1,435 | 1,988 | 5,268 | 5,797 |
| Net margin | 8.3% | 14.0% | 15.1% | 1.6% | 14.5% | 20.8% | 10.1% | 15.1% | 31.4% | 32.5% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- AluminiumAluminium, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹12,945 Crup 16.48%65.9%
- ChemicalsChemicals, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹6,694 Crdown 12.00%34.1%
Valuation
Today, against the company's own history.National Aluminium Company PE ratio and valuation
At or below today's level on 29% of 2,479 trading days over the last 10 years.
At or below today's level on 87% of 1,975 trading days since Nov 2018.
At or below today's level on 30% of 2,479 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend 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% |
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 timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 7
- Bought againBought again. Funds that held it at the month's end, had not held it the month before, and held it in an earlier month.
- 6
- AddedAdded. Funds that held more shares than at the end of the month before.
- 82
- CutCut. Funds that held fewer shares than at the end of the month before.
- 80
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 74
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 4
| Fund | |||
|---|---|---|---|
| 1,33,16,275 | 4.78% | ₹455.8 Cr | |
| 1,23,60,468 | 1.33% | ₹421.4 Cr | |
| 61,92,830 | 2.65% | ₹211.1 Cr | |
| 45,50,000 | 2.44% | ₹155.1 Cr | |
| 36,80,625 | 0.17% | ₹125.5 Cr | |
| 34,00,000 | 0.84% | ₹115.9 Cr | |
| 29,06,992 | 2.40% | ₹99.1 Cr | |
| 28,99,336 | 0.28% | ₹98.9 Cr | |
| 26,68,534 | 3.60% | ₹91.0 Cr | |
| 24,84,871 | 1.12% | ₹84.7 Cr |
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
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,98,812 | 12.12 | 1.46 | +20.3% | −3.1% | 12.6% | 13.6% | 0.57% | |
| 1,39,386 | – | 6.05 | – | – | – | – | 2.24% | |
| 1,510 | 81.86 | 8.86 | – | – | 11.3% | 15.0% | 0.13% | |
| 1,161 | – | 3.35 | +21.4% | – | – | 11.5% | 0.44% | |
| 524 | 37.35 | 1.91 | −1.8% | −5.5% | 6.2% | 3.9% | 0.00% | |
| 486 | – | 4.96 | – | – | – | – | 0.00% | |
| 252 | 17.99 | 2.97 | – | – | 16.5% | – | 0.00% | |
| 219 | – | 0.66 | −18.6% | −114.6% | −1.0% | – | 0.00% |
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
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 24 Aug 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹1.00 |
| 8 May 2026 | Interim | ₹2.00 |
| 6 Feb 2026 | Interim | ₹4.50 |
| 14 Nov 2025 | Interim | ₹4.00 |
| 19 Sep 2025 | Final | ₹2.50 |
| 14 Feb 2025 | Interim | ₹4.00 |
Latest announcements
Routine notices left out.National Aluminium Company announcements
Oct 2026
28 Oct · Analysts
13 Oct · Updates
Sep 2026
30 Sep · Management
25 Sep · Management
National Aluminium Company share price by year
Each calendar year to 2025.National Aluminium Company share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 314.30 | +48.5% | 316.60 | 143.22 |
| 2024 | 211.70 | +60.4% | 256.85 | 123.75 |
| 2023 | 131.95 | +64.1% | 131.95 | 76.25 |
| 2022 | 80.40 | −20.4% | 130.00 | 67.10 |
| 2021 | 101.00 | +134.3% | 121.70 | 43.45 |
| 2020 | 43.10 | −1.3% | 48.25 | 26.90 |
| 2019 | 43.65 | −33.7% | 65.55 | 38.00 |
| 2018 | 65.80 | −23.5% | 88.05 | 57.15 |
| 2017 | 86.00 | +31.7% | 95.70 | 61.60 |
| 2016 | 65.30 | +63.5% | 69.25 | 31.05 |
Recent sessions
The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 29 Oct 2026 | 322.00 | 323.60 | 319.05 | 323.50 | 321.73 | 27,45,723 | 42.2% |
| 28 Oct 2026 | 315.95 | 325.45 | 310.40 | 323.50 | 320.47 | 58,20,813 | 28.1% |
| 27 Oct 2026 | 313.55 | 316.80 | 308.10 | 308.20 | 310.58 | 1,00,09,387 | 70.8% |
| 26 Oct 2026 | 300.10 | 312.40 | 297.85 | 312.40 | 307.34 | 45,49,699 | 31.6% |
| 23 Oct 2026 | 303.05 | 303.95 | 293.00 | 301.75 | 297.75 | 63,82,395 | 38.0% |
| 22 Oct 2026 | 307.60 | 311.40 | 303.35 | 310.90 | 308.04 | 38,96,239 | 46.0% |
| 21 Oct 2026 | 318.05 | 319.05 | 307.75 | 312.20 | 311.59 | 37,86,479 | 51.4% |
| 19 Oct 2026 | 324.25 | 324.25 | 316.90 | 318.00 | 319.75 | 28,26,003 | 47.4% |
| 16 Oct 2026 | 318.35 | 326.95 | 317.50 | 324.25 | 324.39 | 51,83,336 | 45.2% |
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 15 Mar 2011 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 15 Mar 2011 | Split | 0.5000 | Each share became 2. |
| 24 Oct 2008 | Price 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. |
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
- Website
- www.nalcoindia.com
- 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