NLC India Revenue Surges 14%, Power Output Climbs

NLC India announced robust financial results, with revenue climbing 14.2% year-on-year to ₹4,200 crore. This performance was bolstered by a significant 34% expansion in mining revenue and a steady 4% increase in power generation revenue. EBITDA also saw a healthy rise of 30.1%, reaching ₹1,390 crore. However, profit after tax experienced a decline of 26.2%, falling to ₹720 crore.

In the second quarter, power generation increased by 2% to approximately 6.8BU. While lignite production decreased due to lower national demand, coal production surged by 19%. The company's total installed capacity stands at 6,899MW, with plans for further expansion. NLC India has a committed renewable project pipeline of 2.4GW and is progressing with major projects like the Barsinsar Solar Project and the NUPPL Ghatampur Unit-2.

The Talabira thermal project's first unit is slated for commissioning in February 2030, with subsequent units following in August 2030 and February 2031. The company anticipates its regulated equity to grow from ₹11,990 crore to ₹19,670 crore by FY30E. Analysts maintain a buy rating with a target price of ₹320, projecting revenue and EBITDA CAGRs of 11% and 21% respectively from FY25-28E.