State-owned NLC India delivered exceptional financial results for Q2FY27, with consolidated net profit more than doubling to ₹1,381 crore compared to ₹665 crore in the corresponding quarter last year. According to the latest financial results, consolidated revenue from operations rose 13.3% year-on-year to ₹4,732 crore from ₹4,178 crore in the previous year. The company's total income increased 11% to ₹4,826.61 crore in Q2FY27 compared with ₹4,346.72 crore in the previous year. However, the profit figure reflects the impact of tax remeasurement and a full provision against NUPPL advances, which affected the overall financial performance.
Market participants responded positively to the results announcement, with NLC India shares surging nearly 8% on Wednesday, November 4 after the strong quarterly performance. As reported by CNBC TV18, the stock opened at ₹232.62 and touched an intraday high of ₹249.63, with the company maintaining a market capitalisation of ₹34,373 crore. The stock's 52-week high stands at ₹387.80, with a 52-week low of ₹222.30. The company has also announced significant progress on its renewable energy subsidiary's IPO plans, with plans to sell up to 10 crore equity shares in its wholly-owned subsidiary NLC India Renewables Limited through an offer for sale as part of the proposed IPO.
While profitability showed strong growth, the company's operational efficiency metrics showed some pressure. According to the financial results, EBITDA declined 2.3% to ₹1,368 crore against ₹1,400 crore a year ago, with EBITDA margin contracting to 28.9% from 33.5% in the corresponding quarter last year. This margin compression indicates increased cost pressures despite the overall strong financial performance.
Beyond the quarterly results, the company has significantly expanded its renewable energy ambitions. NLC India is now looking to exceed its 10 GW renewable energy capacity target by 2030, with more than 8 GW already in the pipeline. The company expects to add around 600 MW of new capacity during 2026, substantially exceeding its previous target. In an interview with PTI in July 2025, NLC India Chairman and Managing Director Prasanna Kumar Motupalli had said the company was targeting an increase in its renewable energy capacity from 1.4 GW to 10 GW by 2030, with plans to file its draft red herring prospectus with SEBI in the first quarter of FY27.
The company's board approved significant strategic initiatives alongside the strong financial results. The board approved an offer for sale (OFS) of up to 10 crore equity shares in its wholly owned subsidiary NLC India Renewables Ltd as part of its proposed initial public offering. The company also approved fundraising of up to ₹2,500 crore through bonds in phases, depending on the company's requirements. Additionally, the board approved the setting up of an additional 660 MW unit as an expansion project of NUPPL within the existing Ghatampur Thermal Power Station premises. Alongside the strong financial results, NLC India's board approved an interim dividend of ₹1.50 per equity share for financial year 2026-27, with Thursday, November 12, 2026, set as the record date.
