New Delhi, India — April 30, 2026
State-run aluminium major National Aluminium Company Limited (NALCO) on Wednesday reported its audited financial results for the fourth quarter of FY26, posting a consolidated net profit of ₹1,718 crore, reflecting steady sequential growth despite a year-on-year decline.
The company’s performance highlights resilience in operational efficiency and improved margins, even as rising costs and regulatory provisions weighed on annual comparisons.
📊 Q4 FY26 Financial Highlights
NALCO delivered a 7.3% quarter-on-quarter increase in net profit, rising from ₹1,601 crore in Q3 FY26. However, on a yearly basis, profit declined by about 16.6% compared to ₹2,067 crore reported in Q4 FY25.
- Net Profit: ₹1,718 crore
- Revenue from Operations: ₹5,013 crore (↑ 6% QoQ, ↓ 5% YoY)
- EBITDA: ₹2,344 crore (↑ 7.4% QoQ)
- EBITDA Margin: Improved to 46.8% (from 46.1% in Q3)
The margin expansion indicates better cost control and operational leverage, even as topline growth remained moderate.
💰 Dividend Announcement & Record Date
NALCO’s board declared a third interim dividend of ₹2 per equity share, equivalent to 40% of face value, rewarding shareholders amid stable earnings.
- Total FY26 Dividend: ₹10.50 per share
- Record Date: May 8, 2026
Investors holding shares as of the record date will be eligible for the payout.
📅 Full-Year FY26 Performance
Despite the softer year-on-year Q4 comparison, NALCO delivered a strong full-year performance, driven by record production and export growth.
- Annual Net Profit: ₹5,797–₹5,815 crore (up from ₹5,267 crore in FY25)
- Power Generation: Record 6,953 MU
- Coal Production: Nearly 4 million tonnes
- Alumina Exports: Surged over 200%
The company’s ability to scale production and boost exports played a crucial role in offsetting margin pressures.
⚠️ Cost Pressures and Regulatory Impact
NALCO flagged rising expenses, which climbed to ₹2,898 crore during the quarter, as a key factor impacting profitability.
Additionally, the company made a provisional allocation of ₹20.30 crore in compliance with the new labor code implemented on November 21, 2025, reflecting regulatory adjustments in workforce-related costs.
📌 Outlook
NALCO’s Q4 results indicate a balanced performance, with improved quarterly momentum and strong annual growth, even as cost pressures and regulatory changes remain areas to watch.
With robust production capabilities and export expansion, the PSU remains positioned to benefit from global aluminium demand trends, though margin sustainability will depend on input cost stability.
