National Aluminium Co. Ltd. (IN:NATIONALUM)
:NATIONALUM
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National Aluminium Co. Ltd.
(NATIONALUM)
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Rating:84Outperform
Price Target:
₹511.00
▲(54.73% Upside)
Action:ReiteratedDate:01/31/26
The score is driven primarily by strong financial performance (high margins, low leverage, and strong free cash flow generation), complemented by a clear bullish technical trend (price above major moving averages with positive MACD). Valuation is supportive with a moderate P/E and a solid dividend yield.
Positive Factors
High Profitability
Sustained high gross and net margins point to efficient production and pricing power in aluminium and alumina. Over months, strong margins support cash generation, buffer commodity swings, and enable reinvestment into operations and downstream capabilities, enhancing long-term resilience.
Negative Factors
Commodity Price Exposure
Revenue and profitability remain materially linked to aluminium and alumina market cycles. Even with integration, sustained commodity price weakness could compress revenues and cash flows over months, making earnings sensitive to external metal markets and global demand trends.
Read all positive and negative factors
Positive Factors
Negative Factors
High Profitability
Sustained high gross and net margins point to efficient production and pricing power in aluminium and alumina. Over months, strong margins support cash generation, buffer commodity swings, and enable reinvestment into operations and downstream capabilities, enhancing long-term resilience.
Read all positive factors
National Aluminium Co. Ltd. (NATIONALUM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹810.69B
Dividend Yield3.62%
Average Volume (3M)704.46K
Price to Earnings (P/E)9.0
Beta (1Y)0.98
Revenue Growth19.86%
EPS Growth46.32%
CountryIN
Employees4,858
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)8.70
Shares Outstanding1,836,631,800
10 Day Avg. Volume1,001,892
30 Day Avg. Volume704,460
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)1.81
Price to Sales (P/S)1.92
P/FCF Ratio6.95
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹390.00Price Target Upside18.09% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)34.98
Revenue Forecast (FY)₹191.99B
National Aluminium Co. Ltd. Business Overview & Revenue Model
Company Description
National Aluminium Company Limited manufactures and sells alumina and aluminum products in India and internationally. It operates through Chemicals and Aluminium segments. It offers aluminum metal products, such as ingots, alloy ingots, T-ingots, ...
How the Company Makes Money
NATIONALUM primarily makes money by selling aluminium and alumina produced through its integrated value chain. Key revenue streams typically include: (1) Primary aluminium sales: revenue from selling smelted aluminium (often in standard forms such...
National Aluminium Co. Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
88
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 180.29B | 167.88B | 131.49B | 142.57B | 142.15B | 89.56B |
| Gross Profit | 134.10B | 117.64B | 70.93B | 64.77B | 90.94B | 51.64B |
| EBITDA | 86.72B | 75.49B | 28.58B | 24.52B | 45.50B | 17.90B |
| Net Income | 61.13B | 52.68B | 19.88B | 14.35B | 29.51B | 12.99B |
Balance Sheet | ||||||
| Total Assets | 250.05B | 228.82B | 192.35B | 176.27B | 172.76B | 147.09B |
| Cash, Cash Equivalents and Short-Term Investments | 79.91B | 59.42B | 27.14B | 21.62B | 36.55B | 19.08B |
| Total Debt | 558.80M | 1.82B | 963.80M | 1.05B | 771.00M | 1.02B |
| Total Liabilities | 51.68B | 50.77B | 48.47B | 45.00B | 47.23B | 40.30B |
| Stockholders Equity | 198.36B | 178.05B | 143.88B | 131.26B | 125.52B | 106.79B |
Cash Flow | ||||||
| Free Cash Flow | 18.25B | 46.31B | 11.67B | -6.26B | 27.65B | 9.81B |
| Operating Cash Flow | 27.21B | 58.06B | 27.19B | 9.08B | 40.50B | 21.99B |
| Investing Cash Flow | -26.18B | -39.71B | -20.00B | -3.34B | -27.36B | -14.04B |
| Financing Cash Flow | -1.29B | -17.58B | -7.39B | -9.23B | -11.14B | -6.01B |
National Aluminium Co. Ltd. Technical Analysis
Positive
330.25
Price Trends
377.98
Positive
341.69
Positive
271.79
Positive
Market Momentum
15.49
Negative
69.24
Neutral
91.60
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NATIONALUM, the sentiment is Positive. The current price of 330.25 is below the 20-day moving average (MA) of 395.98, below the 50-day MA of 377.98, and above the 200-day MA of 271.79, indicating a bullish trend. The MACD of 15.49 indicates Negative momentum. The RSI at 69.24 is Neutral, neither overbought nor oversold. The STOCH value of 91.60 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NATIONALUM.
National Aluminium Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹810.69B | 9.05 | ― | 3.62% | 19.86% | 46.32% | |
75 Outperform | ₹794.96B | 10.41 | ― | 4.05% | 18.56% | 6.55% | |
73 Outperform | ₹540.95B | 80.20 | ― | 0.33% | 39.28% | 64.43% | |
73 Outperform | ₹760.64B | 40.58 | ― | 1.21% | 8.10% | 24.12% | |
70 Outperform | ₹156.71B | 11.99 | ― | 1.18% | -14.08% | -44.01% | |
68 Neutral | ₹86.67B | 7.74 | ― | 1.82% | -5.01% | 11.50% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% |
* Basic Materials Sector Average
IN:NATIONALUM
National Aluminium Co. Ltd.
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191.31%
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National Aluminium Co. Ltd. Corporate Events
NALCO Strengthens Senior Ranks with Seven Executive Director Promotions
Mar 7, 2026
National Aluminium Company Limited has elevated seven long-serving executives to the role of Executive Director as part of a broad senior management reshuffle. The promoted leaders bring experience across power operations, coal mining, smelter and...
NALCO Unveils IA91 High-Performance Aluminium Alloy Ingot
Feb 25, 2026
National Aluminium Company Limited has introduced a new IA91 grade aluminium alloy ingot, a silicon-based casting alloy designed to offer an optimal balance of castability, mechanical strength, and corrosion resistance. Formally launched at NALCO&...
NALCO Schedules Earnings Call to Discuss Q3 and Nine-Month FY2025 Performance
Jan 27, 2026
National Aluminium Company Limited has informed the stock exchanges that it will hold an earnings conference call on Friday, 30 January 2026 at 17:00 hours to discuss the company’s business and outlook following the announcement of its unaud...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.