Non - Ferrous Metals
Valuation | |
|---|---|
| Market Cap | 65.13 kCr |
| Price/Earnings (Trailing) | 10.6 |
| Price/Sales (Trailing) | 3.48 |
| EV/EBITDA | 7.27 |
| Price/Free Cashflow | 8.98 |
| MarketCap/EBT | 7.93 |
| Enterprise Value | 65.03 kCr |
Fundamentals | |
|---|---|
| Revenue (TTM) | 18.69 kCr |
| Rev. Growth (Yr) | 3.4% |
| Earnings (TTM) | 6.14 kCr |
| Earnings Growth (Yr) | 1.8% |
Profitability | |
|---|---|
| Operating Margin | 44% |
| EBT Margin | 44% |
| Return on Equity | 30.96% |
| Return on Assets | 24.56% |
| Free Cashflow Yield | 11.14% |
Growth & Returns | |
|---|---|
| Price Change 1W | 3.9% |
| Price Change 1M | -12.7% |
| Price Change 6M | 90.5% |
| Price Change 1Y | 97.7% |
| 3Y Cumulative Return | 65.5% |
| 5Y Cumulative Return | 42.7% |
| 7Y Cumulative Return | 31% |
| 10Y Cumulative Return | 26.9% |
Cash Flow & Liquidity | |
|---|---|
| Cash Flow from Investing (TTM) | -3.97 kCr |
| Cash Flow from Operations (TTM) | 5.81 kCr |
| Cash Flow from Financing (TTM) | -1.76 kCr |
| Cash & Equivalents | 95.36 Cr |
| Free Cash Flow (TTM) | 4.63 kCr |
| Free Cash Flow/Share (TTM) | 25.21 |
Balance Sheet | |
|---|---|
| Total Assets | 25 kCr |
| Total Liabilities | 5.17 kCr |
| Shareholder Equity | 19.84 kCr |
| Current Assets | 10.85 kCr |
| Current Liabilities | 3.68 kCr |
| Net PPE | 6.67 kCr |
| Inventory | 2.02 kCr |
| Goodwill | 0.00 |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.00 |
| Debt/Equity | 0.00 |
| Interest Coverage | 75.03 |
| Interest/Cashflow Ops | 92.29 |
Dividend & Shareholder Returns | |
|---|---|
| Dividend/Share (TTM) | 11 |
| Dividend Yield | 3.1% |
| Shares Dilution (1Y) | 0.00% |
| Shares Dilution (3Y) | 0.00% |
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Dividend: Dividend paying stock. Dividend yield of 3.1%.
Technicals: Bullish SharesGuru indicator.
Profitability: Very strong Profitability. One year profit margin are 33%.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Past Returns: Outperforming stock! In past three years, the stock has provided 65.5% return compared to 13.3% by NIFTY 50.
Size: It is among the top 200 market size companies of india.
No major cons observed.
Balance Sheet: Strong Balance Sheet.
Buy Backs: Company has bought back it's stock in the past which is a good thing.
Dividend: Dividend paying stock. Dividend yield of 3.1%.
Technicals: Bullish SharesGuru indicator.
Profitability: Very strong Profitability. One year profit margin are 33%.
Smart Money: Smart money is taking extra interest in the stock as they increase their holdings.
Past Returns: Outperforming stock! In past three years, the stock has provided 65.5% return compared to 13.3% by NIFTY 50.
Size: It is among the top 200 market size companies of india.
No major cons observed.
Investor Care | |
|---|---|
| Dividend Yield | 3.1% |
| Dividend/Share (TTM) | 11 |
| Shares Dilution (1Y) | 0.00% |
| Earnings/Share (TTM) | 33.45 |
Financial Health | |
|---|---|
| Current Ratio | 2.95 |
| Debt/Equity | 0.00 |
Technical Indicators | |
|---|---|
| RSI (14d) | 54.23 |
| RSI (5d) | 91.25 |
| RSI (21d) | 37.94 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Buy |
| RSI Signal | Hold |
| RSI5 Signal | Sell |
| RSI21 Signal | Hold |
| SMA 5 Signal | Buy |
| SMA 10 Signal |
Updated May 5, 2025
Fluctuating aluminium prices have negatively impacted NATIONALUM's profit margins.
The rise in raw material costs has further strained the company's financial performance.
NATIONALUM's stock has seen a decline due to market volatility and investor concerns over its growth trajectory.
Summary of National Aluminium Co.'s latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the earnings call held on January 30, 2026, National Aluminium Company Limited (NALCO) management provided an optimistic outlook, highlighting the company's significant growth in both production and financial performances for the nine months ending December 2025. The management reported a 13% increase in income, with expenditures rising only 6%, resulting in an EBITDA margin increase of 20% and a 25% rise in Profit Before Tax (PBT).
Key highlights included:
Looking ahead, NALCO plans to enhance its operational efficiencies and production volumes. They anticipate production from the new refinery, set to commission in June 2026, to reach approximately 300,000 tons in its initial year. The management remains cautiously optimistic about the alumina and metal market, maintaining a target of 1.3 million tons for alumina sales for FY26.
In summary, NALCO's management underscored robust financial health characterized by increased revenues and controlled expenditures, set to continue with planned capacity expansions and operational efficiencies, albeit facing external market challenges.
Understand National Aluminium Co. ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| LIFE INSURANCE CORPORATION OF INDIA- P&GS Fund | 2.6% |
| ICICI PRUDENTIAL S&P BSE 500 ETF | 2.17% |
| SBI PSU FUND | 1.39% |
| SBI LIFE INSURANCE CO. LTD | 1.06% |
Distribution across major stakeholders
Detailed comparison of National Aluminium Co. against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| VEDL | Vedanta | 2.81 LCr | 1.44 LCr | -2.50% | +77.60% | 19.79 | 1.95 | - | - |
| HINDZINC | Hindustan Zinc | 2.55 LCr | 37.42 kCr |
Comprehensive comparison against sector averages
NATIONALUM metrics compared to Non
| Category | NATIONALUM | Non |
|---|---|---|
| PE | 10.80 | 16.81 |
| PS | 3.55 | 1.79 |
| Growth | 21.3 % | 14.3 % |
National Aluminium Co. is a prominent aluminum company based in India, officially known as National Aluminium Company Limited. It operates under the stock ticker NATIONALUM and has a significant market capitalization of Rs. 29,362.2 Crores.
The company specializes in the manufacture and sale of both alumina and aluminum products, serving markets in India and internationally. Its operations are divided into two main segments: Chemical and Aluminum. They offer a diverse range of products, including:
In terms of infrastructure, National Aluminium Co. owns an opencast mine located on the Panchpatmali hills of Koraput district in Odisha, covering an area of 16 square kilometers. The company is also involved in renewable energy, operating several wind power plants with a total generation capacity exceeding 200 MW across different states, along with a solar power plant in Bhubaneswar. Additionally, it runs an alumina refinery, aluminum smelter plants, and mechanical storage and ship handling facilities to facilitate the export of alumina and import of caustic soda.
Incorporated in 1981 and headquartered in Bhubaneswar, India, National Aluminium Co. has shown financial strength, reporting revenue of Rs. 15,414.3 Crores over the past 12 months. The company has a strong dividend policy, yielding 7.51% annually, with a recent distribution of Rs. 12 per share. With a profit of Rs. 4,197.4 Crores reported in the last four quarters and a revenue growth of 19.9% over the past three years, it is recognized as a profitable enterprise.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
| Buy |
| SMA 20 Signal | Buy |
| SMA 50 Signal | Buy |
| SMA 100 Signal | Buy |
NATIONALUM vs Non (2021 - 2026)
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
NATIONALUM has made strides in reducing operational costs to enhance its competitiveness.
Press Release / Media Release • 25 Feb 2026 NALCO Launches IA91 Grade Aluminium Alloy Ingot |
Newspaper Publication • 20 Feb 2026 Newspaper publication regarding opening of special window for transfer and dematerilisation of physical securities. |
Earnings Call Transcript • 05 Feb 2026 Transcript of the earnings conference call held on 30.01.2026. |
Analyst / Investor Meet • 05 Feb 2026 Intimation of Analyst meet/Institutional investor meeting. |
Newspaper Publication • 02 Feb 2026 Newspaper publication regarding Unaudited Financial Results(Standalone & Consolidated) for the quarter and nine months ended 31.12.2025. |
Newspaper Publication • 02 Feb 2026 |
This information is AI-generated and may contain inaccuracies. Please verify from multiple sources.
Question: In Q3, how much alumina shipments were linked to LME and how much were spot sales? And what is the spot versus contract mix in Q4?
Answer: In Q3, we had a total of four shipments each month, out of which three were spot sales and one was linked to the LME. All shipments averaged 30,000 tons. For Q4, we expect a similar mix with one shipment tied to LME and the rest as spot sales.
Question: Have we started signing long-term contracts for the new refinery?
Answer: We are beginning the commissioning of the new refinery in June, which will take about three to four months to stabilize. We expect to produce around 300,000 tons of alumina from it and are exploring one-year to three-year long-term contracts with interested parties.
Question: Are we going to raise the guidance of sales volume for alumina given our year-to-date performance?
Answer: We're targeting around 1,250,000 to 1,300,000 tons for the fiscal year. However, January has been impacted by tensions in the Middle East affecting our exports. We're working to make up for those losses in February and March.
Question: Can you provide insights into the decline in the chemical division's profitability, particularly due to caustic soda costs?
Answer: The price of alumina has decreased, impacting margins. While caustic soda prices increased from Rs.39 to Rs.45, we improved specific consumption from 121 kg to 99 kg, saving around Rs.129 crores, which mitigated some impact but overall, the reduced alumina price has affected profitability.
Question: What would be the blended alumina realization for the company?
Answer: For Q4, we expect the alumina realization to average around $310 to $320. The average realization for Q3 came out to be about $349.
Question: What is the outlook for aluminum pricing going ahead?
Answer: Currently, LME is around $3200. Looking ahead, we anticipate it stabilizing around $2900-$3000 for the next year due to reduced supply from certain smelters and geopolitical factors impacting production.
Question: Can you elaborate on power and fuel savings in Q4?
Answer: We expect our power and fuel costs to decrease as last quarter's expenses were up due to imported power. With our systems in good condition, we will manage maximum power generation internally moving forward.
Question: How has the domestic premium for aluminum shifted in the Q3?
Answer: There has been an increase in domestic premiums linked to the rising LME prices. Last year, we averaged around 10,000 to 11,000, but this year we've seen premiums at around $50, influenced by market conditions.
Question: Could you clarify the cost of production for aluminum this quarter?
Answer: The cost of production for aluminum this quarter ranges from Rs.150,000 to Rs.160,000, with fluctuations influenced by changes in prices of inputs like CP coke.
Question: What are the expected savings on power and fuel costs and the target for captive coal production?
Answer: We are projecting around Rs.30 crores in savings due to improved captive coal production, aiming for 4 million tons, which we are on track to meet. The cost difference between captive and external coal has also significantly declined.
Distribution across major institutional holders
| -14.70% |
| +46.60% |
| 21.61 |
| 6.82 |
| - |
| - |
| HINDALCO | Hindalco Industries | 2.08 LCr | 2.64 LCr | -7.40% | +46.30% | 12.77 | 0.79 | - | - |
| HINDCOPPER | Hindustan Copper | 54.76 kCr | 2.74 kCr | -10.60% | +166.30% | 82.79 | 20 | - | - |
| GMDCLTD | Gujarat Mineral Development Corpora | 18.11 kCr | 3.03 kCr | +1.90% | +127.10% | 18.31 | 5.97 | - | - |
| MAHSEAMLES | Maharashtra Seamless | 7.53 kCr | 5.29 kCr | +9.20% | -10.40% | 8.96 | 1.42 | - | - |
| MAITHANALL | Maithan Alloys | 2.92 kCr | 2.5 kCr | -3.60% | +12.90% | 6.59 | 1.17 | - | - |
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
| 12.5% |
| 2,132 |
| 1,895 |
| 1,429 |
| 2,760 |
| 2,122 |
| 1,437 |
| Exceptional items before tax | - | 0 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | 12.5% | 2,132 | 1,895 | 1,429 | 2,760 | 2,122 | 1,437 |
| Current tax | 10.8% | 543 | 490 | 377 | 720 | 560 | 369 |
| Deferred tax | 52.6% | -12.85 | -28.23 | -11.77 | -38.58 | -20.5 | 4.94 |
| Total tax | 15% | 531 | 462 | 365 | 681 | 539 | 374 |
| Total profit (loss) for period | 11.5% | 1,595 | 1,430 | 1,049 | 2,067 | 1,566 | 1,046 |
| Other comp. income net of taxes | -66.8% | 5.31 | 14 | -3.49 | 3.82 | -5.92 | -13.83 |
| Total Comprehensive Income | 10.8% | 1,600 | 1,444 | 1,046 | 2,071 | 1,560 | 1,032 |
| Earnings Per Share, Basic | 13.3% | 8.69 | 7.79 | 5.71 | 11.26 | 8.53 | 5.7 |
| Earnings Per Share, Diluted | 13.3% | 8.69 | 7.79 | 5.71 | 11.26 | 8.53 | 5.7 |
| 262.5% |
| 59 |
| 17 |
| 13 |
| 23 |
| 7.08 |
| 5.74 |
| Depreciation and Amortization | -2.9% | 728 | 750 | 716 | 837 | 606 | 530 |
| Other expenses | -2.4% | 5,463 | 5,596 | 6,819 | 5,454 | 3,933 | 4,651 |
| Total Expenses | -9.4% | 10,010 | 11,043 | 12,536 | 10,523 | 7,786 | 8,518 |
| Profit Before exceptional items and Tax | 202.8% | 7,135 | 2,357 | 1,955 | 3,955 | 1,317 | 226 |
| Exceptional items before tax | -100.2% | 0 | 427 | 0 | 0 | 0 | 0 |
| Total profit before tax | 156.3% | 7,135 | 2,784 | 1,955 | 3,955 | 1,317 | 226 |
| Current tax | 121.7% | 1,861 | 840 | 294 | 1,052 | 178 | 151 |
| Deferred tax | 56.2% | -50.28 | -116.09 | 116 | -48.85 | -160.71 | -63.39 |
| Total tax | 150.2% | 1,810 | 724 | 410 | 1,003 | 17 | 88 |
| Total profit (loss) for period | 158.6% | 5,325 | 2,060 | 1,544 | 2,952 | 1,300 | 138 |
| Other comp. income net of taxes | -316.1% | -13.93 | 7.91 | 58 | 24 | 24 | -16.17 |
| Total Comprehensive Income | 156.9% | 5,311 | 2,068 | 1,602 | 2,976 | 1,323 | 122 |
| Earnings Per Share, Basic | 173.9% | 28.99 | 11.22 | 8.41 | 16.07 | 6.97 | 0.74 |
| Earnings Per Share, Diluted | 173.9% | 28.99 | 11.22 | 8.41 | 16.07 | 6.97 | 0.74 |
| -1.9% |
| 6,667 |
| 6,799 |
| 6,811 |
| 7,020 |
| 7,093 |
| 6,916 |
| Capital work-in-progress | 8.9% | 5,374 | 4,935 | 4,232 | 3,961 | 3,191 | 2,745 |
| Non-current investments | 0% | 500 | 500 | 352 | 352 | 352 | 325 |
| Loans, non-current | 5% | 85 | 81 | 79 | 79 | 82 | 82 |
| Total non-current financial assets | 1.3% | 608 | 600 | 453 | 449 | 450 | 429 |
| Total non-current assets | 3.1% | 14,416 | 13,983 | 13,286 | 13,287 | 12,962 | 12,442 |
| Total assets | 9.3% | 25,263 | 23,122 | 20,738 | 19,419 | 18,399 | 17,739 |
| Borrowings, non-current | - | 0 | 0 | 49 | 0 | 0 | 0 |
| Total non-current financial liabilities | -18.1% | 250 | 305 | 320 | 356 | 310 | 242 |
| Provisions, non-current | 2.4% | 258 | 252 | 176 | 171 | 100 | 101 |
| Total non-current liabilities | -5.7% | 1,489 | 1,579 | 1,636 | 1,669 | 1,592 | 1,615 |
| Borrowings, current | -100.8% | 0 | 124 | 42 | 39 | 40 | 48 |
| Total current financial liabilities | 4.6% | 2,709 | 2,590 | 2,352 | 2,277 | 2,299 | 1,937 |
| Provisions, current | 23.4% | 291 | 236 | 173 | 173 | 163 | 147 |
| Current tax liabilities | 420.5% | 204 | 40 | 70 | 54 | 32 | 32 |
| Total current liabilities | 5.2% | 3,679 | 3,498 | 3,246 | 3,178 | 3,198 | 2,886 |
| Total liabilities | 1.8% | 5,168 | 5,077 | 4,882 | 4,847 | 4,791 | 4,500 |
| Equity share capital | 0% | 918 | 918 | 918 | 918 | 918 | 918 |
| Total equity | 11.3% | 20,094 | 18,046 | 15,856 | 14,572 | 13,609 | 13,238 |
| Total equity and liabilities | 9.3% | 25,263 | 23,122 | 20,738 | 19,419 | 18,399 | 17,739 |
| 124.4% |
| 7,525 |
| 3,354 |
| 1,655 |
| 4,714 |
| - |
| - |
| Income taxes paid (refund) | 171% | 1,719 | 635 | 747 | 756 | - | - |
| Net Cashflows From Operating Activities | 113.6% | 5,806 | 2,719 | 908 | 3,958 | - | - |
| Proceeds from sales of PPE | 218.2% | 36 | 12 | 9.15 | 9.35 | - | - |
| Purchase of property, plant and equipment | -24.7% | 1,176 | 1,561 | 1,305 | 927 | - | - |
| Purchase of intangible assets | -73.7% | 26 | 96 | 229 | 356 | - | - |
| Dividends received | 22.2% | 23 | 19 | 17 | 14 | - | - |
| Interest received | 15.4% | 211 | 183 | 54 | 210 | - | - |
| Other inflows (outflows) of cash | -471.6% | -3,039.01 | -530.87 | 1,131 | -1,569.98 | - | - |
| Net Cashflows From Investing Activities | -98.4% | -3,970.54 | -2,000.47 | -334.25 | -2,619.23 | - | - |
| Proceeds from borrowings | - | 85 | 0 | 0 | 0 | - | - |
| Repayments of borrowings | - | 0 | 0 | 0 | 25 | - | - |
| Payments of lease liabilities | 2.2% | 3.78 | 3.72 | 3.65 | 4.23 | - | - |
| Dividends paid | 150.1% | 1,837 | 735 | 918 | 1,102 | - | - |
| Interest paid | 280.6% | 2.3 | 0.28 | 1.53 | 8.19 | - | - |
| Net Cashflows from Financing Activities | -137.8% | -1,757.66 | -738.65 | -923.5 | -1,139.84 | - | - |
| Net change in cash and cash eq. | 470.2% | 78 | -19.8 | -349.51 | 199 | - | - |
Change in Management • 01 Feb 2026 Change in Senior Management |
Analysis of National Aluminium Co.'s financial performance, highlighting revenue trends, growth patterns, and key metrics through quarterly analysis.
Last Updated: Dec 31, 2025
| Description | Share | Value |
|---|---|---|
| Aluminium | 67.6% | 3.5 kCr |
| Chemicals | 32.4% | 1.7 kCr |
| Total | 5.1 kCr |