National Aluminium Company (NATIONALUM) Q4 24/25 earnings summary

Executive summary

• Achieved record financial performance in FY 2025, with highest-ever revenue, profit, margin, and dividend declared for both the year and the quarter.

• Integrated operations across bauxite, alumina, aluminium, power, and coal, with a strong global presence.

• Zero-debt status maintained, providing leverage for ongoing and future expansion projects and financial stability.

• Audited standalone and consolidated financial results for FY25 were approved by the Board and reviewed by the Audit Committee.

• Statutory auditors issued unmodified opinions on both standalone and consolidated financial statements.

Financial highlights

• Standalone revenue from operations for FY25 was ₹16,787.63 crore, up from ₹13,149.15 crore in FY24; net sales for Q4 FY25 reached ₹5,228 crore.

• Standalone net profit for FY25 was ₹5,324.67 crore, compared to ₹2,059.95 crore in FY24; Q4 FY25 PAT was ₹2,078 crore.

• EBITDA (excluding exceptional items) for FY25 was ₹7,922 crore, up from ₹3,124 crore in FY24; EBITDA margin reached 46%.

• Alumina average realization for FY25 was $590/ton; Q4 realization was $600/ton, with Q1 FY26 expected at $400/ton.

• Cost of alumina production in Q4 was INR 22,000/ton, with expectations to reduce by INR 1,000–2,000 through efficiency improvements.

Outlook and guidance

• Alumina production for FY26 targeted at 2.25 million tons, with sales planned at 1.275 million tons.

• CapEx guidance: INR 1,700 crore for FY26, INR 2,000 crore for FY27, with 60% allocated to refinery and bauxite mine projects.

• EBITDA margin for FY26 targeted at 36–37%, with revenue generation expected to be similar to FY25.

• Global aluminium demand expected to grow, with global production and consumption projected to reach 145.9 million tonnes and 145.5 million tonnes respectively by 2026.

• Indian aluminium demand projected to grow at a CAGR of 6.3–7.2% till 2030.