NLC India logo

NLC India share price

NSE: NLCINDIABSE: 513683PowerMid Cap

NLC India Limited · Formerly Neyveli Lignite Corporation · Face value ₹10 · Listed Aug 2000
Last close ₹227.95down ₹2.45 (1.06%)BSE ₹227.95

Share price at the NSE close on 28 Oct 2026. Previous close ₹230.40.

28 Oct: open ₹230.00, high ₹230.40, low ₹226.85

52-week range of traded prices to 28 Oct 2026
₹222.30Low, 23 Oct 2026₹387.80High, 14 May 2026
Market cap
₹31,608 Cr223rd largest listed
P/E
Owners' profit not stated
P/B
1.47
Dividend yield
1.69%
ROCE
6.8%
Debt to equity
1.10
Volume, NSE
5,30,81140.5% delivered

NLC India share price chart

Daily closes since Jan 2007, adjusted for splits and bonuses

−12.4%over a year · Nifty 500 −8.8%

ResultsDividend20-session average 13,14,461 shares a day, 44.6% delivered

About NLC India

NLC India Limited mines lignite (brown coal) and coal in India and generates electricity from thermal, solar and wind plants.1 Its Neyveli (Tamil Nadu) and Barsingsar (Rajasthan) power stations sit beside its own lignite mines.1 Most of its power goes to state distribution utilities under long-term power purchase agreements (contracts to buy its output); coal and lignite also go to other buyers under supply contracts and e-auctions (online auctions).23

Power is its main source of revenue; around this core it is adding energy storage, critical minerals and green hydrogen.45 NLC India Renewables Limited, a wholly owned subsidiary being prepared for a public listing, holds its renewable plants; NLC India Green Energy Limited runs its diversification businesses.67 It holds 89% of NLC Tamil Nadu Power Limited and 51% of Neyveli Uttar Pradesh Power Limited, which run coal-fired plants at Tuticorin and in Uttar Pradesh.8 It says it was the first central public sector enterprise (a company the central government controls) in India to pass a gigawatt of solar capacity.6

It was incorporated in 1956 to develop lignite reserves at Neyveli and is a Navratna company (a status that gives a state-owned company more freedom to invest) under the Ministry of Coal.9 It operates in 10 states and 1 Union Territory, with its corporate office at Neyveli and registered office in Chennai.9 The Government of India, acting through the Ministry of Coal, is its promoter; its holding fell from 72.20% to 69.47% after it offered shares for sale in June 2026.10

NLC India key points

Results

  • In the year to Mar 2026, consolidated revenue from operations was ₹17,489.53 crore, against ₹15,282.96 crore a year earlier.11
  • Consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) for the year to Mar 2026 was ₹7,475 crore.12
  • In the year to Mar 2026, consolidated profit after tax, including minority owners' share, was ₹3,769 crore, the highest the company has recorded and up about two-fifths on the year before.1314

Plants and capacity

  • Mining capacity at its lignite mines and Talabira coal mine is 50.10 million tonnes a year (MTPA): 30.10 MTPA of lignite from 3 Neyveli mines in Tamil Nadu and 1 at Barsingsar, Rajasthan, and 20.0 MTPA of coal from Talabira II and III, Odisha.1516
  • As of its annual report of 8 Sep 2026, thermal capacity is 6,620 MW: 3,640 MW at its own lignite-fired stations at Neyveli and Barsingsar, and 2,980 MW of coal-fired plants held through joint ventures.178
  • Renewable capacity is 1,785 MW of solar, wind and battery storage in Tamil Nadu, Rajasthan, Odisha, Andaman and other states; NLC India Renewables has a further 5,810 MW under implementation and 3,885 MW through joint ventures.18
  • The Pachwara South coal mine in Jharkhand, with a mining capacity of 9.00 MTPA, began coal production in Mar 2026.19

Mining and generation

  • In the year to Mar 2026, the Talabira II and III mine produced 19.14 million tonnes of coal and dispatched 17.69 million tonnes, both the highest the company has recorded.20
  • In the year to Mar 2026, lignite production was 21.27 million tonnes, against 24.06 million tonnes a year earlier, which the company ties to its plants' fuel needs.21
  • In the year to Mar 2026, group power generation was 28.94 billion units (BU, billion kilowatt-hours), against 27.87 BU a year earlier; renewable generation was 2.26 BU, against 2.09 BU.22
  • In the year to Mar 2026, buyers surrendered (contracted for but did not take) 6,487.58 million units of thermal power from the company and its joint ventures, whose thermal plants ran at an average plant load factor (output against the maximum possible) of 55.13%.2324

Expansion and capital spending

  • Group capital expenditure in the year to Mar 2026 was ₹9,131 crore, the highest the company has recorded.25
  • The proposed NLC Talabira coal-fired power project in Odisha, linked to the company's Talabira mines, has an estimated cost of ₹27,212.96 crore; at 31 Mar 2026 its physical and financial progress were 1.9% and 12.68%.2627
  • The company said it plans to commission the 600 MW Khavda solar plant in Gujarat in the year to Mar 2027 and the 810 MW Pugal solar plant in Rajasthan in the year to Mar 2028.2829
  • The company said it targets opening its commercial coal mines, Machhakata (30 MTPA) and New Patrapara (12 MTPA) in Odisha and North Dhadu (3 MTPA) in Jharkhand, around the years to Mar 2029 and Mar 2030.30

What the company expects

  • The company said its Corporate Plan 2030 targets 20,130 MW of power capacity by 2030, including 10,110 MW of renewable capacity held through NLC India Renewables.31
  • The company said it targets thermal capacity of 10,020 MW and mining capacity of around 104 MTPA by 2030.3233
  • The company said it projects capital expenditure of ₹1.01 lakh crore up to 2030, funded with debt and equity in a 70:30 ratio for thermal and mining projects and 80:20 for renewable projects.34
  • The company said it aims to pass revenue of ₹37,000 crore and assets of ₹1.5 lakh crore by 2030.35

Recent events

  • On 22 Oct 2026 the company signed memorandums of understanding with the Industrial Promotion and Investment Corporation of Odisha (IPICOL) for a 3,200 MW coal-fired plant (potential investment ₹35,000 crore), a beach sand processing facility (tentative ₹2,000 crore) and a coal gasification study for fertiliser.36
  • On 8 Jul 2026 the company signed a joint venture agreement with National Aluminium Company (NALCO) for a 1,080 MW coal-fired captive plant (one serving NALCO's aluminium smelter expansion) at Angul, Odisha; its board approved the 50:50 venture on 29 Sep 2026, subject to approvals.3738
  • Units 2 and 3 of the Ghatampur coal-fired plant in Uttar Pradesh began commercial operation on 9 Dec 2025 and 13 Jun 2026, adding 1,320 MW.3940

Litigation and regulatory matters

  • TANGEDCO (Tamil Nadu's power utility) disputes ₹694.33 crore the company billed for its TPS-I station under a CERC (tariff regulator) order for 2009-14; as of 8 Sep 2026 its appeal at APTEL (appeals tribunal) was pending, with 50% ordered paid on 12 Feb 2025.41
  • As of its annual report of 8 Sep 2026, the board lacked the required 50% independent directors and an independent woman director; exchanges levied penalties, and the company sought a waiver.42

Last updated

All 42 sources, each with its page
  1. 1. Annual report, 8 Sep 2026, page 12
  2. 2. Annual report, 8 Sep 2026, page 52
  3. 3. Annual report, 8 Sep 2026, page 126
  4. 4. Annual report, 8 Sep 2026, page 39
  5. 5. Annual report, 8 Sep 2026, page 12
  6. 6. Annual report, 8 Sep 2026, page 13
  7. 7. Annual report, 8 Sep 2026, page 13
  8. 8. Annual report, 8 Sep 2026, page 96
  9. 9. Annual report, 8 Sep 2026, page 11
  10. 10. Annual report, 8 Sep 2026, page 65
  11. 11. Annual report, 8 Sep 2026, page 65
  12. 12. Annual report, 8 Sep 2026, page 26
  13. 13. Annual report, 8 Sep 2026, page 38
  14. 14. Annual report, 8 Sep 2026, page 8
  15. 15. Annual report, 8 Sep 2026, page 65
  16. 16. Annual report, 8 Sep 2026, page 68
  17. 17. Annual report, 8 Sep 2026, page 13
  18. 18. Annual report, 8 Sep 2026, page 13
  19. 19. Annual report, 8 Sep 2026, page 65
  20. 20. Annual report, 8 Sep 2026, page 12
  21. 21. Annual report, 8 Sep 2026, page 44
  22. 22. Annual report, 8 Sep 2026, page 65
  23. 23. Annual report, 8 Sep 2026, page 65
  24. 24. Annual report, 8 Sep 2026, page 26
  25. 25. Annual report, 8 Sep 2026, page 8
  26. 26. Annual report, 8 Sep 2026, page 66
  27. 27. Annual report, 8 Sep 2026, page 66
  28. 28. Annual report, 8 Sep 2026, page 98
  29. 29. Annual report, 8 Sep 2026, page 66
  30. 30. Annual report, 8 Sep 2026, page 96
  31. 31. Annual report, 8 Sep 2026, page 69
  32. 32. Annual report, 8 Sep 2026, page 68
  33. 33. Annual report, 8 Sep 2026, page 42
  34. 34. Annual report, 8 Sep 2026, page 96
  35. 35. Annual report, 8 Sep 2026, page 38
  36. 36. Exchange filing, 22 Oct 2026, page 2
  37. 37. Exchange filing, 8 Jul 2026, page 1
  38. 38. Exchange filing, 29 Sep 2026, page 1
  39. 39. Annual report, 8 Sep 2026, page 42
  40. 40. Annual report, 8 Sep 2026, page 69
  41. 41. Annual report, 8 Sep 2026, page 102
  42. 42. Annual report, 8 Sep 2026, page 113

Results

Consolidated; ₹ crore.NLC India quarterly results

Revenue growth, 12 months
+16.8%
Net profit growth, 12 months
–

Quarter to Jun 2026, against the quarter before

Revenue
₹4,717 Crdown 6.46%
Net profit
₹436 Crdown 70.55%
Net margin
9.3%

Revenue by quarter

₹3,657 CrSep 24₹4,411 CrDec 24₹3,836 CrMar 25₹3,826 CrJun 25₹4,178 CrSep 25₹4,443 CrDec 25₹5,042 CrMar 26₹4,717 CrJun 26
Peak revenue ₹5,042 Cr, quarter to Mar 2026; lowest ₹3,657 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹982 CrSep 24₹696 CrDec 24₹468 CrMar 25₹839 CrJun 25₹725 CrSep 25₹724 CrDec 25₹1,481 CrMar 26₹436 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue3,6574,4113,8363,8264,1784,4435,0424,717
Net profit9826964688397257241,481436
Net margin26.9%15.8%12.2%21.9%17.3%16.3%29.4%9.3%
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

  • Power - Thermal₹14,443 Cr60.3%
  • Mining₹8,796 Crup 21.60%36.7%
  • Power - Renewables₹726 Cr3.0%
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. Not shown, P/E: a quarter's profit for shareholders does not agree with its own earnings per share.NLC India PE ratio and valuation

Price to book

At or below today's level on 62% of 1,881 trading days since Nov 2018.

LowestHighest
Its median0.77Industry median1.62
Dividend yield

At or below today's level on 28% of 2,447 trading days since Dec 2016.

LowestHighest
Its median3.82%Industry median1.69%

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+11.2%+34.4%−18.3%1.4%
3 years+52.9%+36.1%+11.3%1.3%
5 years+42.4%+21.8%+14.7%2.7%
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. Earnings growth over 1, 3 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.NLC India shareholding pattern

Shareholding by group

  • Promoters69.47%
  • Foreign institutions4.61%
  • Indian institutions13.64%
  • Governments4.31%
  • Individuals and others7.97%
Holder
PRESIDENT OF INDIAPromoter69.47%
STATE INDUSTRIES PROMOTION CORPORATION OF TAMILNADU LTDGovernment-promoted companies1.94%
SBI LIFE INSURANCE CO. LTDInsurance companies1.68%
LIFE INSURANCE CORPORATION OF INDIA and LIFE INSURANCE CORPORATE OF INDIA P AND GS FundInsurance companies1.15%
TAMILNADU INDUSTRIAL DEVELOPMENT CORPORATION LTDGovernment-promoted companies1.08%
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 −0.01 pts, Indian institutions +0.70 pts, mutual funds +0.65 pts.

Mutual fund holdings

118 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 77 of the 88 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 118 funds holding NLC India

Bought again
3
Added
53
Cut
35
Held unchanged
26
Sold out
5
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 29 Oct 2025.NLC India insider trading

Bought on the market Sold on the market
  • Promoters and promoter group0 purchases, 2 salesNo purchase₹1,225 CrNet−₹1,225 Cr
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

NLC India competitors and peers

Power Generation, 36 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to NLC India in market cap.Power stocks

NLC India is not on the chart: it has no P/E or return on equity today

Return on equity across, P/E up, size is market cap
Company
Adani Green Energy logoAdani Green EnergyADANIGREEN2,09,027111.549.68+20.9%−7.1%9.1%6.3%0.00%
JSW Energy logoJSW EnergyJSWENERGY88,55738.192.41+26.4%+14.6%7.0%6.0%0.41%
NHPC logoNHPCNHPC74,77519.701.80+12.0%+24.1%9.4%3.6%2.16%
NTPC Green Energy logoNTPC Green EnergyNTPCGREEN70,124115.533.70––3.2%3.4%0.00%
Acme Solar Holdings logoAcme Solar HoldingsACMESOLAR29,06338.403.48+53.7%–11.5%5.3%0.05%
SJVN logoSJVNSJVN20,01831.321.41+60.5%−7.4%4.5%5.1%2.94%
Clean Max Enviro Energy Solutions logoClean Max Enviro Energy SolutionsCLEANMAX14,721–3.17––––0.00%
Nava logoNavaNAVA14,20818.801.62+9.0%−27.6%9.2%9.7%1.69%
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.NLC India dividend history

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

7.3Mar 174.5Mar 184.5Mar 197.1Mar 202.5Mar 213Mar 223.5Mar 233Mar 243Mar 253.9Mar 26
Highest ₹7.34 a share, year to Mar 2017.
Ex-dateTypePer share
22 Sep 2026Final₹0.25
20 Jan 2026Interim₹3.60
19 Sep 2025Final₹1.50
7 Feb 2025Interim₹1.50
17 Sep 2024Final₹1.50
16 Feb 2024Interim₹1.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.NLC India announcements

NLC India share price by year

Each calendar year to 2025.NLC India share price history

YearClose at year endChangeHighest closeLowest close
2025250.22+0.6%285.32194.28
2024248.80−1.8%297.73202.15
2023253.45+194.4%253.4571.90
202286.10+38.8%93.4556.50
202162.05+12.7%77.8046.60
202055.05−3.7%62.0039.30
201957.15−17.9%79.1051.25
201869.65−36.5%111.9566.55
2017109.60+43.8%120.4577.95
201676.20−6.7%83.5062.40
₹ 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 27 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
27 Oct 2026228.00236.95227.85230.40232.0719,68,53642.6%
26 Oct 2026225.10231.65223.25229.35227.0115,68,21153.1%
23 Oct 2026234.90235.60222.30228.50227.0123,67,83042.7%
22 Oct 2026236.40238.60231.00233.55233.348,58,80940.0%
21 Oct 2026245.80245.80232.50238.65237.1618,13,69746.3%
19 Oct 2026252.05252.45243.60244.35247.635,75,93549.2%
16 Oct 2026251.35256.55248.00253.35253.769,31,78042.3%
15 Oct 2026257.65257.65250.05251.30252.7312,16,03653.6%
14 Oct 2026245.35258.25243.65257.65254.2023,34,97439.4%
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.Buyback and offer for sale history

Ex-dateEventPrice factorWhat happened
22 Jan 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.
21 Jan 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.
Each event is noted and not adjusted for.

Company details

Chairperson
Prasanna Kumar Acharya
At the end of the quarter to Sep 2026
NSE symbol
NLCINDIA
BSE code
513683
ISIN
INE589A01014
Industry
Power
Former symbols
NEYVELILIG
CIN
L93090TN1956GOI003507
Corporate identity number, the registrar of companies' code for it
Incorporated
1956
Registered office
No. 135, EVR Periyar High Road, Kilpauk, Chennai 600010, Tamil Nadu
Share registrar
Integrated Registry Management Services Pvt. Ltd (Integrated Enterprises (India) Ltd)
Keeps the register of shareholders and handles transfers and dividend payments