NLC India Ltd
NLC India is engaged in the business of mining of lignite and generation of power by using lignite as well as Renewable Energy Sources.(Source : 202003 Annual Report Page No:89)
- Market Cap ₹ 37,488 Cr.
- Current Price ₹ 270
- High / Low ₹ 292 / 202
- Stock P/E 19.4
- Book Value ₹ 131
- Dividend Yield 1.33 %
- ROCE 9.02 %
- ROE 5.61 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 27.8%
- Debtor days have improved from 96.2 to 66.8 days.
Cons
- The company has delivered a poor sales growth of 5.36% over past five years.
- Company has a low return on equity of 9.06% over last 3 years.
- Earnings include an other income of Rs.2,491 Cr.
- Promoter holding has decreased over last 3 years: -7.00%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Utilities Power Power Power Generation
Part of BSE 500 BSE PSU Nifty 500 Nifty Energy Nifty CPSE
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,945 | 6,074 | 6,561 | 8,561 | 8,496 | 7,146 | 7,921 | 7,340 | 9,979 | 12,955 | 10,520 | 10,286 | 10,669 | |
| 4,025 | 4,524 | 4,381 | 4,308 | 5,511 | 5,632 | 5,029 | 5,269 | 6,322 | 7,993 | 7,497 | 7,931 | 8,338 | |
| Operating Profit | 1,920 | 1,550 | 2,180 | 4,253 | 2,986 | 1,514 | 2,891 | 2,071 | 3,657 | 4,962 | 3,024 | 2,355 | 2,331 |
| OPM % | 32% | 26% | 33% | 50% | 35% | 21% | 36% | 28% | 37% | 38% | 29% | 23% | 22% |
| 988 | 1,424 | -400 | -1,247 | 721 | 1,758 | 1,092 | 1,863 | 1,262 | -1,062 | 1,849 | 2,433 | 2,491 | |
| Interest | 182 | 150 | 188 | 169 | 205 | 390 | 820 | 981 | 784 | 756 | 643 | 562 | 521 |
| Depreciation | 517 | 441 | 641 | 683 | 861 | 746 | 958 | 1,232 | 1,528 | 1,420 | 1,442 | 1,368 | 1,449 |
| Profit before tax | 2,209 | 2,383 | 950 | 2,154 | 2,641 | 2,136 | 2,205 | 1,722 | 2,606 | 1,724 | 2,788 | 2,858 | 2,851 |
| Tax % | 32% | 34% | 76% | -10% | 30% | 41% | 36% | 41% | 53% | 28% | 34% | 34% | |
| 1,502 | 1,580 | 228 | 2,369 | 1,849 | 1,267 | 1,414 | 1,010 | 1,237 | 1,248 | 1,847 | 1,900 | 1,938 | |
| EPS in Rs | 8.95 | 9.42 | 1.36 | 15.50 | 12.09 | 9.14 | 10.20 | 7.29 | 8.92 | 9.00 | 13.32 | 13.70 | 13.98 |
| Dividend Payout % | 31% | 30% | 221% | 47% | 37% | 50% | 69% | 34% | 17% | 39% | 23% | 22% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 5% |
| 3 Years: | 1% |
| TTM: | 2% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -4% |
| 5 Years: | -9% |
| 3 Years: | 0% |
| TTM: | 37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 41% |
| 3 Years: | 55% |
| 1 Year: | 10% |
| Return on Equity | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 8% |
| 3 Years: | 9% |
| Last Year: | 6% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1,678 | 1,678 | 1,678 | 1,529 | 1,529 | 1,387 | 1,387 | 1,387 | 1,387 | 1,387 | 1,387 | 1,387 | 1,387 |
| Reserves | 12,226 | 13,199 | 11,248 | 10,670 | 11,806 | 11,125 | 11,253 | 11,572 | 12,420 | 13,252 | 14,607 | 16,079 | 16,713 |
| 3,150 | 3,164 | 3,555 | 6,959 | 8,720 | 13,166 | 16,784 | 14,922 | 10,266 | 9,376 | 8,005 | 7,561 | 8,528 | |
| 3,396 | 3,326 | 7,207 | 8,358 | 10,459 | 9,009 | 9,043 | 9,222 | 9,600 | 11,237 | 11,197 | 11,299 | 11,398 | |
| Total Liabilities | 20,450 | 21,367 | 23,687 | 27,516 | 32,514 | 34,687 | 38,466 | 37,102 | 33,673 | 35,251 | 35,195 | 36,325 | 38,026 |
| 6,471 | 6,426 | 9,654 | 9,625 | 10,574 | 11,684 | 18,308 | 20,162 | 19,185 | 18,732 | 18,133 | 17,664 | 17,757 | |
| CWIP | 3,701 | 4,406 | 2,457 | 5,115 | 7,075 | 8,853 | 4,211 | 1,121 | 1,126 | 1,012 | 1,923 | 4,320 | 5,400 |
| Investments | 1,617 | 1,934 | 1,949 | 2,421 | 2,421 | 2,824 | 3,519 | 3,622 | 3,933 | 4,196 | 4,640 | 5,092 | 5,092 |
| 8,662 | 8,601 | 9,626 | 10,354 | 12,443 | 11,326 | 12,427 | 12,197 | 9,430 | 11,311 | 10,499 | 9,250 | 9,778 | |
| Total Assets | 20,450 | 21,367 | 23,687 | 27,516 | 32,514 | 34,687 | 38,466 | 37,102 | 33,673 | 35,251 | 35,195 | 36,325 | 38,026 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,211 | 850 | 1,314 | 810 | 3,761 | 499 | 1,168 | 4,052 | 6,062 | 3,823 | 5,141 | 5,645 | |
| -640 | -830 | -1,154 | -3,581 | -3,099 | -3,183 | -3,146 | -811 | -123 | -1,888 | -2,144 | -4,059 | |
| -1,179 | -1,014 | -326 | 13 | -672 | 2,686 | 1,977 | -3,101 | -5,968 | -1,987 | -2,514 | -1,976 | |
| Net Cash Flow | 1,392 | -993 | -166 | -2,759 | -9 | 1 | -1 | 139 | -29 | -52 | 483 | -390 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 135 | 137 | 168 | 160 | 145 | 235 | 308 | 279 | 114 | 107 | 115 | 67 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 135 | 137 | 168 | 160 | 145 | 235 | 308 | 279 | 114 | 107 | 115 | 67 |
| Working Capital Days | 92 | 153 | 180 | 168 | 177 | 32 | 69 | 63 | 85 | 109 | 85 | -59 |
| ROCE % | 15% | 12% | 12% | 24% | 14% | 11% | 11% | 9% | 11% | 20% | 10% | 9% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Power Generation (Group/Consolidated) Million Units |
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| Lignite Production Lakh Tonnes |
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| Coal Mining Capacity MTPA |
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| Coal Production Lakh Tonnes |
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| Lignite Mining Capacity MTPA |
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| Total Installed Capacity MW |
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| Weighted Average Plant Availability Factor (PAF) - Thermal % |
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| Power Export Million Units |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
45m - Three independent directors (M.T. Ramesh, V.A. Patil, P.K. Saraogi) ceased on 27 Mar 2026.
- Closure of Trading Window 1d
-
Announcement under Regulation 30 (LODR)-Credit Rating
1d - India Ratings affirmed IND AAA/Stable for ₹2,923cr bank loans and ₹2,500cr NCDs; IND A1+ for ₹6,000cr CPs.
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Announcement under Regulation 30 (LODR)-Credit Rating
2d - CARE ESG assigned NLC India 61.2 (CareEdge-ESG 2) on 23-Mar-2026, indicating strong ESG position.
-
Announcement under Regulation 30 (LODR)-Credit Rating
21 Mar - Infomerics reaffirmed IVR AAA/Stable for ₹916 crore term loan on 21 March 2026.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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A Navaratna Company
The company is a Navratna Government corporation engaged in the fossil fuel mining sector and the thermal power generation business under the ownership of the Ministry of Coal, Government of India. [1]