Nalco’s September-quarter net profit climbed 36.7% year-on-year to Rs 1,430 crore, up from Rs 1,046 crore in the same period last year, driven by higher realisations and improved operating efficiency. Revenue rose 31.5% to Rs 4,292 crore from Rs 4,001 crore a year earlier.
Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at Rs 1,932.9 crore, marking a 24.8% rise from a year ago. Operating margins expanded to 45% from 38.7%, underscoring stronger pricing power and cost discipline.
Dividend boost and expansion plans
The board of the state-owned producer approved an interim dividend of Rs 4 per equity share, translating to a payout of Rs 734.65 crore for FY26.
On the outlook, Nalco’s management said it expects London Metal Exchange (LME) aluminium prices to average around $2,670 per tonne in calendar year 2026.
The company added that its alumina refinery expansion project is “progressing as planned,” with capacity set to increase by 1 million tonnes per annum (MTPA) to a total of 3.1 MTPA, likely to be commissioned by June 2026.
Technical picture stays bullish
Nalco’s stock has gained nearly 18% so far in 2025 and is up 60% in the past six months. The counter is trading above all eight of its key simple moving averages, from the 5-day to the 200-day, reflecting strong momentum across time frames.
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The Relative Strength Index (RSI) at 59.6 indicates the stock is neither overbought nor oversold, while the Moving Average Convergence Divergence (MACD) at 5.4 remains above the center line but below the signal line, suggesting consolidation after recent gains.
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