Dr. Prasanna Kumar Acharya has been appointed as the new Chairman & Managing Director of NLC India on September 16, 2026, according to a regulatory filing. The appointment was approved by the Ministry of Coal, Government of India, with the President of India's approval conveyed for the five-year term. As reported by the company, Sanoj Kumar Jha, who was holding the additional charge of CMD, has handed over the charge to Dr. Acharya. Consequently, Dr. Acharya has relinquished from his position as Director (Finance) & CFO of NLC India with effect from the date of appointment.
Dr. Acharya brings nearly three decades of rich and diverse experience across leading Indian organisations in the Power, Mining and Infrastructure sectors. He holds a Bachelor's degree in Commerce (Honours) from Utkal University, Odisha, and a Bachelor of Laws (LLB) from M.S. Law College, Cuttack, Odisha. Additionally, he has a Master of Commerce from Ravenshaw University, Odisha, and a Master of Business Administration (MBA). He is a Fellow Member of the Institute of Cost and Management Accountants of India and an Associate Member of the Institute of Company Secretaries of India. His professional journey encompasses diverse domains, including Power Generation, Transmission, Distribution and Mining, as well as Metro Rail infrastructure. Notably, he made significant contributions to major infrastructure initiatives, including the Phase-II Project of Chennai Metro Rail Limited (CMRL), a project with an estimated value of over ₹63,000 crore.
Dr. Acharya played an important role in steering joint ventures with various State utilities and in supporting NLCIL's ambitious growth roadmap, as reported by the company. The growth plan envisages achieving more than 20 GW of power generation capacity and over 100 MTPA of mining capacity by 2030. His strategic contributions have been instrumental in advancing the company's expansion initiatives across multiple sectors. With his extensive experience across diverse sectors, coupled with his broad vision and strategic acumen, Dr. Prasanna Kumar Acharya is poised to lead NLC India Limited through its next phase of growth and nationwide expansion, with a focus on strengthening the Company's position and progressing towards its vision of becoming a Maharatna enterprise.
NLC India shares closed 2.72% higher at ₹262.30 on the National Stock Exchange on Thursday, September 17, according to market data. However, the development was announced after market hours. The stock has declined 3% in the past week and 5% over the month, but has risen 2% on a year-to-date basis. The company maintains a total market capitalisation of ₹36,371.48 crore as of September 17, 2026. The scrip hit a 52-week high of ₹387.80 per equity share on May 14, 2026, and touched a year's low of ₹387 per unit on December 8, 2025.
In a separate regulatory filing dated Thursday, NLC India announced that its wholly-owned subsidiary, NLC India Renewables Ltd (NIRL), incorporated a joint venture company with PTC India Limited under the name 'NIRL PTC RENEWABLES LIMITED'. The JVC was incorporated with equity participation of 74:26, with 74% stake held by NIRL and the remaining 26% by PTC India Ltd. The Ministry of Corporate Affairs issued a Certificate of Incorporation for the same on September 16, 2026, with the aim of setting up green energy projects across India.
