India: NALCO’s integrated operations see resilient performance in Q1FY’26

• Q1FY’26 revenue jumps 33% to INR 3,807 crore
• Aluminium output inches up to 115,000 t in Q1

National Aluminium Company Ltd. (NALCO), a Navratna public sector enterprise, reported a solid start to FY’26, with strong operational and financial performance in Q1FY’26, led by a sharp rise in alumina sales and stable aluminium output.

The company produced 115,000 tonnes (t) of aluminium metal in the quarter, up 2.7% y-o-y, maintaining high-capacity utilisation. While domestic metal sales rose nearly 9% y-o-y to 113,400 t, export volumes remained nil, reflecting a continued focus on the domestic market amid volatile global dynamics.

A key highlight was alumina performance. Production rose 35% y-o-y to 578,000 t, while alumina exports jumped over threefold to 274,600 t. Domestic alumina sales also surged 197% y-o-y to 29,100 t. This robust offtake helped offset the dip in realisations due to softer LME prices.

On the financial front, NALCO clocked revenue from operations of INR 3,807 crore in Q1FY’26, up 33% y-o-y. EBITDA (excluding exceptional incomes) rose 62% y-o-y to INR 1,616 crore, while profit after tax (PAT) jumped 77% to INR 1,064 crore, driven by volume growth and disciplined cost control.

The company’s integrated structure — from bauxite mining to captive power — continues to offer a significant cost advantage. Bauxite production rose 6.6% y-o-y to 1.88 million tonnes (mnt), while thermal power generation stood at 1,686 million units, up 6.4%.

Looking ahead, NALCO is investing in capacity expansion. Its 1-MTPA fifth-stream alumina refinery and 3.5-MTPA Pottangi bauxite mine are expected by FY’26. Additionally, a 0.5-MTPA aluminium smelter and 1,080 MW captive power plant are targeted for FY’30.

NALCO remains debt-free, with a strong balance sheet supporting growth. Its sustainability credentials also stand out — with 198 MW wind power capacity, 98% blast-free mining, and a water-positive bauxite mine. The company is actively expanding its renewable portfolio and CSR footprint, reinforcing its position as a responsible industry leader.