National Aluminium Company (NATIONALUM) Q1 25/26 earnings summary

Executive summary

• Achieved strong Q1 FY26 results with 33% revenue growth and 77% PAT growth year-over-year, maintaining nearly 100% capacity utilization across operations.

• Unaudited standalone and consolidated financial results for the quarter ended 30 June 2025 were approved and published, with statutory auditor review confirming no material misstatements.

• Maintains integrated operations across bauxite, alumina, aluminium, power, and coal, with global cost leadership in bauxite and alumina production.

• Maintains a zero-debt position, supporting future expansion and funding flexibility.

• Final dividend of ₹2.50 per share recommended for FY 2024-25, in addition to ₹8.00 per share interim dividends already paid.

Financial highlights

• Standalone revenue from operations for Q1 FY26 was ₹3,806.94 crore, up from ₹2,856.10 crore in Q1 FY25.

• Standalone net profit for Q1 FY26 was ₹1,063.86 crore, compared to ₹601.22 crore in Q1 FY25.

• EBITDA (excluding exceptional items) increased 62.4% year-over-year to ₹1,616 crore.

• Alumina realization averaged $416/ton for the quarter, with spot prices around $400.

• Other expenses increased due to higher RPO obligations (INR 75 crore), coal transportation, and maintenance.

Outlook and guidance

• Fifth stream alumina refinery to be commissioned by June 2026, targeting 500,000 tons output in FY27 and full 1 million ton capacity thereafter.

• Bauxite mine (Pottangi) to start by May–June 2026, adding 3.5 million tons capacity.

• Brownfield smelter expansion (0.5 million tons) progressing, with DPR and land acquisition to complete in FY26.

• Alumina production guidance for FY26 is 22.5–23 lakh tons, with sales of 12.5–12.8 lakh tons, mostly for export.

• Value-added product focus: new wire rod mill (INR 250–300 crore CapEx) and foil plant (INR 50–60 crore) to be operational in 2–3 years.