National Aluminium Co. Ltd. (IN:NATIONALUM)
:NATIONALUM
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National Aluminium Co. Ltd.
(NATIONALUM)
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Rating:84Outperform
Price Target:
₹399.00
▲(20.82% 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
Vertical integration & captive power
Integrated upstream-to-smelter operations plus captive power create durable cost and supply advantages. Owning mining, refining and power reduces input exposure, secures feedstock, and cushions margins versus peers dependent on third-party raw materials or grid power.
Negative Factors
Commodity price exposure
Revenue and margins remain cyclically exposed to global aluminium and alumina price swings. As a commodity producer, structural market cycles and oversupply in metals markets can compress returns for extended periods and make earnings more volatile.
Read all positive and negative factors
Positive Factors
Negative Factors
Vertical integration & captive power
Integrated upstream-to-smelter operations plus captive power create durable cost and supply advantages. Owning mining, refining and power reduces input exposure, secures feedstock, and cushions margins versus peers dependent on third-party raw materials or grid power.
Read all positive factors
National Aluminium Co. Ltd. (NATIONALUM) vs. iShares MSCI India ETF (INDA)
Market Cap
₹737.87B
Dividend Yield3.62%
Average Volume (3M)704.46K
Price to Earnings (P/E)9.0
Beta (1Y)1.05
Revenue Growth30.80%
EPS Growth97.08%
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)33.36
Revenue Forecast (FY)₹186.80B
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 generates revenue through multiple streams primarily centered around the production and sale of aluminium products. The company sells its products to a diverse range of industries, including construction, automotive, aerospace, and elec...
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
370.48
Positive
326.60
Positive
261.04
Positive
Market Momentum
5.75
Negative
60.23
Neutral
86.56
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 383.29, below the 50-day MA of 370.48, and above the 200-day MA of 261.04, indicating a bullish trend. The MACD of 5.75 indicates Negative momentum. The RSI at 60.23 is Neutral, neither overbought nor oversold. The STOCH value of 86.56 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 | ₹737.87B | 9.05 | ― | 3.62% | 30.80% | 97.08% | |
75 Outperform | ₹685.59B | 10.41 | ― | 4.05% | 20.05% | 15.58% | |
73 Outperform | ₹478.44B | 80.20 | ― | 0.33% | 16.05% | 41.18% | |
73 Outperform | ₹640.85B | 40.58 | ― | 1.21% | 6.45% | 1.13% | |
69 Neutral | ₹122.69B | 10.37 | ― | 1.18% | -13.69% | -30.57% | |
68 Neutral | ₹78.87B | 7.74 | ― | 1.82% | 0.81% | -7.11% | |
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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National Aluminium Co. Ltd. Corporate Events
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...
NALCO Announces Share Transfer to IEPF
Dec 15, 2025
National Aluminium Company Limited has announced the publication of a notice regarding the transfer of shares to the Investor Education and Protection Fund (IEPF) as per the Companies Act, 2013. This move is part of compliance with regulatory requ...
NALCO Awards Major Contract for Pottangi Bauxite Mines Development
Dec 10, 2025
National Aluminium Company Limited has awarded a significant MDO contract to M/s. Dilip Buildcon Limited for the development and operation of the Pottangi Bauxite Mines, including the Overland Conveyor Corridor and allied facilities. This contract...
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.