Bhubaneswar, India — National Aluminium Company Limited (NALCO), a Navratna public sector enterprise under the Government of India, reported a marginal year-on-year increase in net profit for the third quarter of FY26, while announcing a generous second interim dividend for shareholders.
For the quarter ended December 31, 2025, NALCO posted a standalone net profit of ₹1,601.02 crore, up 1.14% from ₹1,582.90 crore in the same period last year. Revenue from operations rose 1.47% year-on-year to ₹4,730.95 crore, compared with ₹4,662.22 crore in Q3 FY25.
Profit before tax (PBT) stood at ₹2,131.64 crore, slightly higher than ₹2,121.90 crore a year earlier. Earnings per share (EPS) improved to ₹8.72 from ₹8.62.
Strong Nine-Month Performance
For the nine-month period ended December 2025, NALCO delivered a solid performance, reporting standalone revenue of ₹12,830.23 crore and a net profit of ₹4,098.05 crore, significantly higher than ₹3,246.30 crore recorded during the same period in FY25.
Dividend Announcement
The Board of Directors approved a second interim dividend of ₹4.50 per equity share (face value ₹5), representing a 90% payout for FY 2025–26. The total dividend outflow is estimated at ₹826.48 crore.
- Record Date: February 6, 2026
- Payment Date: On or before March 1, 2026
This follows a first interim dividend of ₹4.00 per share paid in December 2025. The company confirmed that all dividend payments will be made electronically in compliance with updated SEBI regulations.
Segment Performance
NALCO’s Q3 performance was driven by its core businesses:
- Aluminium Segment: Revenue of ₹3,461.50 crore with segment profit of ₹1,582.41 crore
- Chemicals Segment: Revenue of ₹1,656.78 crore and profit of ₹512.94 crore
Consolidated Results
On a consolidated basis, including four joint ventures, NALCO reported a Q3 FY26 net profit of ₹1,595.15 crore, with an EPS of ₹8.69.
Auditor Observations
The joint statutory auditors, SRB & Associates and BM Chatrath & Co. LLP, highlighted two key issues:
- Revenue from two wind power plants in Rajasthan has not been recognized due to pending Power Purchase Agreement renewals, currently under litigation in the Rajasthan High Court.
- The financial impact of India’s New Labour Codes, effective November 21, 2025, is still being evaluated. Gratuity-related provisions have been accounted for, while other impacts will be recognized once detailed rules are notified.
Management Commentary
The results were approved by the Board led by Shri Brijendra Pratap Singh, Chairman-cum-Managing Director, who emphasized the company’s stable operational performance and resilience across its aluminium and chemicals businesses.
About NALCO
National Aluminium Company Limited is one of Asia’s largest integrated aluminium producers, with operations spanning bauxite mining, alumina refining, aluminium smelting, power generation, and logistics. The company operates under the Ministry of Mines, Government of India.