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National Aluminium Company (NATIONALUM) investor relations material
National Aluminium Company Q2 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record Q2 and H1 performance in production and financials, with highest-ever alumina hydrate and cast metal output and significant year-over-year sales growth.
Unaudited standalone and consolidated financial results for Q2 and H1 ended 30th September 2025 were approved and published.
Maintained zero debt leverage, supporting expansion plans in smelter and power segments.
Strategic raw material securitization and expanded refinery capacity to mitigate LME price volatility.
Interim dividend of ₹4 per share for FY 2025-26 was declared, with a total payout of ₹734.65 crore.
Financial highlights
Q2 FY26 revenue from operations: ₹4,292.34 crore; H1 net sales up 18% year-over-year to ₹8,048 crore.
Q2 PAT up 34.9% year-over-year to ₹1,433 crore; H1 PAT up 50.2% to ₹2,497 crore.
Q2 EBITDA (excluding exceptional items) increased 28.1% year-over-year to ₹2,077 crore; H1 EBITDA up 41.2% to ₹3,693 crore.
Standalone net profit margin for Q2 FY26: ~32.4%.
Other non-operating income more than doubled year-over-year in both Q2 and H1.
Outlook and guidance
Major expansion projects underway: Pottangi bauxite mine (3.5 MTPA, commissioning May 2026), 5th stream alumina refinery (1 MTPA, June 2026), aluminium smelter (0.5 MTPA, Dec 2030), and captive power plant (1,080 MW, Jun 2031).
Full ramp-up of new alumina refinery expected in FY 2028, with 500,000 tons targeted for FY 2027.
Alumina sales guidance for FY 2026: 1.25–1.3 million tons; H2 sales expected at 600,000–650,000 tons.
Aluminium production guidance for FY 2026: 470,000 tons.
LME aluminium prices expected to average $2,670/MT in CY2026, influenced by Chinese stimulus and global economic factors.
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