NLCINDIAPower

NLC India Limited

Power Generation · ISIN INE589A01014 · BSE 513683 · NSE EQ · FV ₹10
Last price
₹262
+2.72%today
What this company does

NLC India Limited operates in Power Generation, part of the Power sector. It booked ₹4,717 cr of revenue in its latest quarter (Q1 FY27) and kept 9.3% of sales as profit. It is the 6th largest of 9 Power Generation companies we track, by market value.

54out of 100
Equitytale Health Score
Mixed

Healthier than 54% of companies in Power, on all six measures of filed financials. Each measure is ranked against the 10–21 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
39

At close. Not part of the score.

Profitability & returns30

How much profit it earns on the money it employs

Balance sheet51

How much it owes, and whether earnings cover the interest

Cash quality53

Whether reported profit actually arrives as cash

Growth & consistency66

Whether sales and profit have grown, and how steadily

Valuation56

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 23% vs last year
Promoters hold 69%
No promoter shares pledged
Turns profit into real cash
Watch-outs
! Profit down 45% vs last year
! Carries high debt (D/E 1.1)

What if I invest in NLCINDIA?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 0% a year, it would become
₹12.00 lakh

The slider starts at 0%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹262 +2.72%
latest close · 2026-09-17
1-year return
+419.9%
52-wk low ₹5052-wk high ₹308
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio18.8Average
LowAverageHigh
P/B ratio1.69Moderate
Below bookModerateHigh
EV / EBITDA9.8Average
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity8.1%Fair
WeakFairStrong ▸15%
Return on capital7.0%Weak
WeakFairStrong
Net margin9.3%Decent
ThinDecentStrong
EBITDA margin34.4%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity1.10High
LowModerateHigh ▸1
Interest cover2.5×Okay
RiskyOkayStrong ▸5×
Current ratio0.80Tight
Tight ◂1HealthyAmple
More figures
Market cap
₹36,372 cr
Book value
₹155
EPS
₹3.49
latest quarter
Net debt
₹27,090 cr
owes more than its cash
Enterprise value
₹63,462 cr
EBITDA
₹6,490 cr
annualised
EBIT
₹3,826 cr
annualised
Operating margin
20.3%
Return on assets
2.7%
Earnings yield
5.32%
P/S
1.93
Sales / share
₹136.1
Tax rate
37.5%
Face value
₹10
Shares
138.7 cr
Working capital
₹-2,119 cr
Current assets
₹8,444 cr
Current liabilities
₹10,563 cr
Delivery %
50.3%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the exchange filings
not investment advice
Looks overpricedMedium confidence
Median of 2 models ₹185 vs market price ₹262 — price is 42% above it
Safety cushion-41.6%(target ≥ +20%)
Models span ₹179₹191, midpoint ₹185
Model ₹185
Price ₹262
Cheap sideExpensive side

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹4,717 cr
Other Income₹151 cr
Total Income₹4,868 cr
Cost of Materials₹1,042 cr
Purchases of Stock-in-Trade₹0 cr
Inventory Change (±)₹207 cr
Employee Benefit Expense₹588 cr
Finance Costs₹382 cr
Depreciation & Amortisation₹666 cr
Other Expenses₹1,408 cr
Total Expenses₹4,293 cr
Profit before Tax₹574 cr
Tax Expense₹215 cr
Share of JV / Associates₹6 L
Net Profit₹436 cr
Net margin on total income9.0%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹1,250 cr25.3%
Employee benefit expense₹588 cr11.9%
Finance costs₹382 cr7.7%
Depreciation & amortisation₹666 cr13.5%
Other expenses₹1,408 cr28.5%
Tax expense₹215 cr4.4%
Profit for the period₹436 cr8.8%
Total income ₹4,868 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue4,443 cr5,042 cr4,717 cr
Total income4,807 cr5,197 cr4,868 cr
Expenses3,829 cr4,327 cr4,293 cr
Profit before tax978 cr870 cr574 cr
Tax119 cr36 cr215 cr
Net profit (owners' share)666 cr1,393 cr436 cr
Net margin (owners' share, on revenue)15.0%27.6%9.3%
EPS (₹)5.2210.053.49
YoY (latest quarter): total income +18.3% · net profit -45.3%
Balance sheet & cash flow · as of Mar 2026
High debt
Total assets
₹65,202 cr
Shareholder equity
₹21,525 cr
parent shareholders
Total debt
₹27,802 cr
Cash
₹711 cr
Cash flow · H1 FY26
Operating
₹3,205 cr
Investing
₹-3,822 cr
Financing
₹835 cr
Peer comparison
Power Generation · by market value
CompanyPriceMarket capP/E
NTPC Limited₹330₹3.20 L cr11.9
Adani Green Energy Limited₹1,274₹2.10 L cr63.1
JSW Energy Limited₹512₹93,821 cr48.5
NHPC Limited₹75₹75,539 cr17.2
NTPC Green Energy Limited₹88₹73,798 cr60.8
NLC India Limitedthis company₹262₹36,372 cr18.8
Acme Solar Holdings Limited₹411₹29,022 cr27.7
SJVN Limited₹65₹25,445 cr28.4
NAVA LIMITED₹547₹15,490 cr13.9
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
1.94%
trailing 12 months
Dividend / share (TTM)
₹5.1
Last dividend
₹3.6
ex 20 Jan 2026
ActionDetailEx-date
Dividend₹3.6 / share20 Jan 2026
Dividend₹1.5 / share19 Sep 2025
Dividend₹1.5 / share7 Feb 2025
Dividend₹1.5 / share17 Sep 2024
Dividend₹1.5 / share16 Feb 2024
Dividend₹2 / share18 Sep 2023
Who owns it · 2026-06-30
No pledge
Promoter
69.5%
FII / Foreign
4.6%
DII / Domestic
12.9%
Retail / others
13.0%
Promoter stake down 9.7% over the last 12 quarters.
Smart-money activity
Insider trades
SoldMourougaya Madavaradjou · Immediate relative4,000 · ₹9.0 L23 Jun 25
SoldThe President of India acting through and represented by the Ministry of Coal, Government of India · Promoters9.71 cr · ₹2057.8 cr7 Mar 24
SoldVanchinathan T · Employees/Designated Employees3,985 · ₹9.6 L26 Dec 23
Bulk / block deals
short · NSE363 Sep 26
short · NSE1,99026 Aug 26
short · NSE1,40019 Aug 26
Stake changes
SoldPresident of India, Ministry of Coal, Government of India · promoter→ 69.47% · 3.78 cr10 Jun 26
BoughtNippon Life India Trustee Limited A/c through various schemes of Nippon India Mutual Fund→ 5.24% · 53.10 L27 Mar 24
SoldPresident of India , Ministry of Coal, Government of India · promoter→ 72.20% · 9.71 cr11 Mar 24
What shareholders were asked to approve
4 proposals passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 27 Sep 2025
See the official result
1
To receive, consider and adopt the Standalone Audited Financial Statements including Consolidated Audited Financial Statements of the Company for the Financial Year ended 31st March, 2025, together with the Reports of the Board of Directors and Statutory Auditors thereon and the comments of the Comptroller and Auditor General of India.
Backed by 100% of shareholders other than promotersneeded 50%
22.22 cr votes for, 2,860 against · 0% of mutual funds and other big investors said no
2
To confirm the Interim Dividend paid @ Rs. 1.50 per equity share (15%) and to declare the Final Dividend @ Rs. 1.50 per equity share (15%) for the Financial Year 2024-25.
Backed by 100% of shareholders other than promotersneeded 50%
22.24 cr votes for, 2,294 against · 0% of mutual funds and other big investors said no
3
To appoint a Director in place of Shri Samir Swarup (DIN: 09648745), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 85% of shareholders other than promotersneeded 50%
18.99 cr votes for, 3.25 cr against · 15% of mutual funds and other big investors said no
4
To appoint a Director in place of Shri M Venkatachalam (DIN: 10045337), who retires by rotation and being eligible, offers himself for re-appointment.
Backed by 85% of shareholders other than promotersneeded 50%
18.99 cr votes for, 3.25 cr against · 15% of mutual funds and other big investors said no
5
To consider the Re-appointment of Shri Meethale Thundiyil Ramesh (DIN: 07313892) as an Independent Director of the Company.
⚑ Passed only because promoters voted yes
Backed by 52% of shareholders other than promotersneeded 75%
11.56 cr votes for, 10.68 cr against · 48% of mutual funds and other big investors said no
6
To consider the appointment of Dr. Vasant Ashok Patil (DIN: 09352913) as an Independent Director of the Company.
⚑ Passed only because promoters voted yes
Backed by 52% of shareholders other than promotersneeded 75%
11.58 cr votes for, 10.66 cr against · 48% of mutual funds and other big investors said no
7
To consider the appointment of Shri Pradeep Kumar Saraogi (DIN: 03083365) as an Independent Director of the Company.
⚑ Passed only because promoters voted yes
Backed by 52% of shareholders other than promotersneeded 75%
11.55 cr votes for, 10.68 cr against · 48% of mutual funds and other big investors said no
8
To consider the appointment of Shri Sanoj Kumar Jha (DIN: 11100701) as a Government Nominee Director of the Company.
⚑ Passed only because promoters voted yes
Backed by 45% of shareholders other than promotersneeded 50%
9.96 cr votes for, 12.28 cr against · 56% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 1 named members
owning 69.5% between them · as of 2026-06-30
PRESIDENT OF INDIA69.47%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.