NLCINDIA
NLC India share price & financials
- Price
- ₹321.7
- Market cap
- ₹36.7k Cr
- Sector
- Power
What NLC India does
NLC India is a Government of India Navratna enterprise engaged in an integrated mining-to-power chain: it mines lignite and coal from captive blocks and sells or captively consumes the fuel to run its own coal/lignite-based thermal power stations. It also generates and sells solar and wind power, with the renewables business consolidated under subsidiary NLC India Renewables Limited (NIRL). The group is diversifying into adjacent areas including critical minerals and rare earths, manufactured sand from mine overburden, battery energy storage systems (BESS) and EV charging infrastructure through subsidiary NLC India Green Energy Limited (NGEL) and various joint ventures.
Segments
- Mining
- Thermal Power
- Renewable Power
- Mines operated
- 6
- Power plants operated
- 17
- States and UTs of operation
- 11
- Total installed mining capacity
- 50 MTPA (30 MTPA lignite + 20 MTPA coal)
- Total thermal power capacity
- 5,960 MW (3,640 MW NLCIL + 2,320 MW via JVs)
- Operational renewable (solar + wind) capacity
- 1,734 MW
Quarterly results
Q1 FY27: revenue up 15.1%, net profit up 1.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 2,139 | 2,775 | 2,723 | 2,496 | 2,565 +20% | 2,885 +4% | 2,918 +7% | 2,872 +15% |
| EBITDA | 397 | 733 | 382 | 508 | 721 +82% | 720 −2% | 877 +130% | 828 +63% |
| Net profit | 339 | 408 | 656 | 368 | 485 +43% | 428 +5% | 1,243 +89% | 374 +2% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +6.3% 1Y
1Y: ₹248.62 on 10 Sept 2025 → ₹264.4. High ₹370.9 (14 May 2026), low ₹236.24 (10 Dec 2025).
Financials, as filed
Revenue fell 12.4% a year over 3 years, FY23 to FY26. Operating margin widened to 26.0%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹16.2k Cr | ₹10.5k Cr | ₹10.3k Cr | ₹10.9k Cr |
| Operating profit | ₹3.5k Cr | ₹2.7k Cr | ₹2.4k Cr | ₹2.8k Cr |
| Operating margin | 21.9% | 25.8% | 23.5% | 26.0% |
| Interest | ₹1.0k Cr | ₹643 Cr | ₹563 Cr | ₹514 Cr |
| Depreciation | ₹1.8k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.5k Cr |
| Net profit | ₹1.4k Cr | ₹1.8k Cr | ₹1.9k Cr | ₹2.5k Cr |
| Net margin | 8.8% | 17.5% | 18.5% | 23.2% |
| Cash from operations | ₹3.8k Cr | ₹5.1k Cr | ₹5.6k Cr | ₹2.5k Cr |
| Free cash flow | ₹2.0k Cr | ₹3.2k Cr | ₹1.7k Cr | ₹1.7k Cr |
| ROCE | 20.0% | 10.0% | 9.0% | 9.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr | ₹1.4k Cr |
| Reserves | ₹11.6k Cr | ₹12.4k Cr | ₹13.3k Cr | ₹14.6k Cr | ₹18.6k Cr | ₹17.9k Cr |
| Borrowings | ₹14.9k Cr | ₹10.3k Cr | ₹9.4k Cr | ₹8.0k Cr | ₹24.4k Cr | ₹10.2k Cr |
| Other liabilities | ₹9.2k Cr | ₹9.6k Cr | ₹11.2k Cr | ₹11.2k Cr | ₹16.6k Cr | ₹8.2k Cr |
| Total liabilities | ₹37.1k Cr | ₹33.7k Cr | ₹35.3k Cr | ₹35.2k Cr | ₹60.9k Cr | ₹37.7k Cr |
| Fixed assets | ₹20.2k Cr | ₹19.2k Cr | ₹18.7k Cr | ₹18.1k Cr | ₹30.4k Cr | ₹14.4k Cr |
| Capital work in progress | ₹1.1k Cr | ₹1.1k Cr | ₹1.0k Cr | ₹1.9k Cr | ₹17.9k Cr | ₹4.9k Cr |
| Investments | ₹3.6k Cr | ₹3.9k Cr | ₹4.2k Cr | ₹4.6k Cr | ₹8 Cr | ₹8.4k Cr |
| Other assets | ₹12.2k Cr | ₹9.4k Cr | ₹11.3k Cr | ₹10.5k Cr | ₹12.7k Cr | ₹10.0k Cr |
| Total assets | ₹37.1k Cr | ₹33.7k Cr | ₹35.3k Cr | ₹35.2k Cr | ₹60.9k Cr | ₹37.7k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters trimmed −2.73 pp while the public added +2.37 pp. The shareholder count shrank 1% to 3,33,052.
- Promoters
- 69.5%
- FIIs
- 4.6%
- DIIs
- 12.9%
- Government
- 4.3%
- Public
- 8.7%
Since Jun 2025
- Promoters −2.73 pp
- Public +2.37 pp
- FIIs +1.67 pp
How it drifted, 12 quarters
Over this window promoters fell from 79.2% to 69.5% — −9.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 79.2%, FIIs 0.9%, DIIs 9.2%, Government 4.3%, Public 6.4%.Dec '23: Promoters 79.2%, FIIs 1.2%, DIIs 8.8%, Government 4.3%, Public 6.4%.Mar '24: Promoters 72.2%, FIIs 2.4%, DIIs 13.4%, Government 4.3%, Public 7.7%.Jun '24: Promoters 72.2%, FIIs 2.2%, DIIs 13.8%, Government 4.3%, Public 7.5%.Sep '24: Promoters 72.2%, FIIs 2.5%, DIIs 14.3%, Government 4.3%, Public 6.7%.Dec '24: Promoters 72.2%, FIIs 2.9%, DIIs 14.5%, Government 4.3%, Public 6.2%.Mar '25: Promoters 72.2%, FIIs 2.9%, DIIs 14.6%, Government 4.3%, Public 6.0%.Jun '25: Promoters 72.2%, FIIs 3.0%, DIIs 14.3%, Government 4.3%, Public 6.3%.Sep '25: Promoters 72.2%, FIIs 3.3%, DIIs 13.9%, Government 4.3%, Public 6.4%.Dec '25: Promoters 72.2%, FIIs 3.2%, DIIs 13.7%, Government 4.3%, Public 6.6%.Mar '26: Promoters 72.2%, FIIs 3.6%, DIIs 14.0%, Government 4.3%, Public 5.9%.Jun '26: Promoters 69.5%, FIIs 4.6%, DIIs 12.9%, Government 4.3%, Public 8.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- NIPPON LIFE INDIA TRUSTEE LTD (Under various sub accounts) Mutual fund newly disclosed 5.58% held
- KOTAK MAHINDRA TRUSTEE CO LTD (Under Various sub accounts) Mutual fund newly disclosed 2.48% held
The same filing shows 3 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of NLC India above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| President Of India | 69.47% | −2.73 pp |
| NIPPON LIFE INDIA TRUSTEE LTD (Under various sub accounts) Mutual fund | 5.58% | newly disclosed |
| KOTAK MAHINDRA TRUSTEE CO LTD (Under Various sub accounts) Mutual fund | 2.48% | newly disclosed |
| State Industries Promotion Corporation Of Tamilnadu Ltd | 1.94% | unchanged |
| SBI Life Insurance Co. Ltd Insurer | 1.68% | −0.49 pp |
| LIFE INSURANCE CORPORATION OF INDIA and LIFE INSURANCE CORPORATION OF INDIA - P and GS Fund Insurer | 1.15% | −0.68 pp |
| Tamilnadu Industrial Development Corporation Ltd | 1.08% | unchanged |
| NIPPON LIFE INDIA TRUSTEE LTD (Under different sub-accounts) | — | off the list |
| KOTAK MAHINDRA TRUSTEE CO LTD (Under different sub accounts) | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in NLCINDIA
Filings to Aug 2026
0 new, 10 added, 1 trimmed, 0 sold out — net +9.24 L shares (+1.2%).
- Held by funds
- ₹2.1k Cr
- 18 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹738 Cr · 0.9% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹738 Cr | +5.97 L | Oct '22 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹476 Cr | held | Jun '23 |
| CPSE ETF Nippon India Mutual Fund | ₹277 Cr | +0.12 L | Jan '19 |
| Nippon India ELSS Tax Saver Fund Nippon India Mutual Fund | ₹199 Cr | held | Jul '23 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹195 Cr | +2.56 L | Mar '24 |
| Nippon India Power & Infra Fund Nippon India Mutual Fund | ₹65 Cr | held | Aug '24 |
| Nippon India Value Fund Nippon India Mutual Fund | ₹63 Cr | held | Jun '23 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹58 Cr | held | Dec '22 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
10 added, 1 trimmed — net +9.24 L shares (+1.2%)
- Funds are sitting on
- +81%
- vs est. average cost
- Held by funds
- ₹2.1k Cr
- 18 schemes · ≈ 7.0% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹738 Cr · 0.9% of that fund
- Longest holder
- CPSE ETF
- 7y 8m · since Jan '19
Shares held by these funds +55%
Aug '23 7.89 cr shares Jul '26
Learn to analyse NLC India
Guides on how to read this kind of business and the numbers that matter.