National Aluminium Co. Ltd. (NATIONALUM) AI Stock Analysis

• Market Cap: ₹433.45B
• Dividend Yield: 4.41%
• Average Volume (3M): 704.46K
• Price to Earnings (P/E): 7.6
• Beta (1Y): 1.59
• Revenue Growth: 38.31%
• EPS Growth: 155.40%
• Country: IN
• Employees: 4,858
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Aluminum
• EPS (TTM): 5.80
• Shares Outstanding: 1,836,631,800
• 10 Day Avg. Volume: 1,001,892
• 30 Day Avg. Volume: 704,460
• PEG Ratio: 0.04
• Price to Book (P/B): 1.81
• Price to Sales (P/S): 1.93
• P/FCF Ratio: 6.95
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹220.00
• Price Target Upside: -7.68% Downside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 1

• Rating: 81 Outperform
• Price Target: ₹263.00 ▲(10.37% Upside)

National Aluminium Co. Ltd. receives a strong overall stock score due to its robust financial performance, characterized by impressive revenue growth, profitability, and cash flow metrics. The technical analysis supports a bullish outlook, although caution is advised as the stock approaches overbought conditions. The valuation is attractive with a low P/E ratio and high dividend yield, suggesting potential for price appreciation. The absence of earnings call and corporate events data did not impact the score.

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, sows, billets, and wire rods; alumina and hydrate products, including calcined alumina and alumina hydrate; zeolite-A products; specialty alumina and hydrate products; and aluminum rolled products and aluminum chequered sheets. The company also owns and operates an opencast mine covering an area of 16 square kilometers on Panchpatmali hills of Koraput district in Odisha; a wind power plant with 50.4 MW of generation capacity in Gandikota, Andhra Pradesh; a wind power plant with 47.6 MW of generation capacity at Jaisalmer, Rajasthan; a wind power plant with 50 MW of generation capacity at Devikot, Rajasthan; a wind power plant with 50.4 MW of generation capacity at Jath, Maharashtra; and a solar power plant in Bhubaneswar. In addition, it owns and operates mechanized storage and ship handling facilities for exporting alumina and importing caustic soda. National Aluminium Company Limited was founded in 1981 and is based in Bhubaneswar, India.

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 electrical sectors. Key revenue streams include the sale of aluminium ingots, which serve as raw material for various downstream industries, and value-added products like rolled and extruded aluminium, which command higher margins. The company also benefits from long-term contracts and partnerships with major clients, ensuring a steady demand for its products. Additionally, NATIONALUM engages in export activities, tapping into international markets to further enhance its revenue. Factors such as efficient production processes, cost management, and a strong brand presence in the market contribute to its overall financial performance.

National Aluminium Co. Ltd. Financial Statement Overview

Summary

National Aluminium Co. Ltd. exhibits strong financial health with impressive growth, profitability, and cash flow metrics. The company has successfully increased its revenues and maintained a solid profit margin, supported by efficient operations. A robust balance sheet with low leverage and high equity ratio enhances financial stability, while strong cash flow generation ensures liquidity and operational flexibility.

Income Statement

National Aluminium Co. Ltd. has shown robust revenue growth with a 28.44% increase in total revenue for the year ending 2025 compared to 2024. The gross profit margin is strong at 69.38%, indicating efficient production and cost management. Net profit margin has improved significantly to 31.37%, showcasing effective cost control and profitability. EBITDA and EBIT margins are also healthy at 45.23% and 58.75%, respectively, reflecting solid operational performance.

Balance Sheet

The company maintains a strong balance sheet with a low debt-to-equity ratio of 0.01, indicating minimal reliance on debt financing. The equity ratio is high at 77.84%, signifying a stable capital structure with significant equity financing. Return on Equity (ROE) is impressive at 29.57%, demonstrating effective use of shareholders' equity to generate profits.

Cash Flow

Cash flow performance is strong, with substantial free cash flow growth of 335.66% from the previous year, driven by higher operating cash flows and efficient capital expenditure management. Operating cash flow to net income ratio of 1.10 indicates that the company is generating sufficient cash from operations to cover its net income. Free cash flow to net income ratio of 0.88 further supports the strong cash generation capability.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	177.38B	167.88B	131.49B	142.57B	142.15B	89.56B
Gross Profit	124.33B	117.64B	70.93B	64.77B	90.94B	51.64B
EBITDA	81.37B	75.49B	28.58B	24.52B	45.50B	17.90B
Net Income	57.29B	52.68B	19.88B	14.35B	29.51B	12.99B
Balance Sheet
Total Assets	0.00	228.82B	192.35B	176.27B	172.76B	147.09B
Cash, Cash Equivalents and Short-Term Investments	59.42B	59.42B	27.14B	21.62B	36.55B	19.08B
Total Debt	0.00	1.82B	963.80M	1.05B	771.00M	1.02B
Total Liabilities	-178.05B	50.77B	48.47B	45.00B	47.23B	40.30B
Stockholders Equity	178.05B	178.05B	143.88B	131.26B	125.52B	106.79B
Cash Flow
Free Cash Flow	0.00	46.31B	11.67B	-6.26B	27.65B	9.81B
Operating Cash Flow	0.00	58.06B	27.19B	9.08B	40.50B	21.99B
Investing Cash Flow	0.00	-39.71B	-20.00B	-3.34B	-27.36B	-14.04B
Financing Cash Flow	0.00	-17.58B	-7.39B	-9.23B	-11.14B	-6.01B

National Aluminium Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 238.30
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Negative
• STOCH: 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 238.3 is above the 20-day moving average (MA) of 227.18, above the 50-day MA of 212.02, and above the 200-day MA of 188.41, indicating a bullish trend. The MACD of 7.38 indicates Negative momentum. The RSI at 72.78 is Negative, neither overbought nor oversold. The STOCH value of 82.25 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NATIONALUM	―	₹433.45B	7.57	―	4.41%	38.31%	155.40%
NMDC	―	₹661.67B	10.07	―	4.35%	20.05%	15.58%
HINDCOPPER	―	₹330.77B	68.06	―	0.42%	13.81%	34.46%
MAHSEAMLES	―	₹76.56B	8.67	―	1.73%	-1.30%	0.51%
SAIL	―	₹534.49B	17.61	―	1.17%	6.45%	1.13%
JINDALSAW	―	₹118.95B	8.84	―	1.12%	-13.69%	-30.57%
Sector *	―	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

National Aluminium Co. Ltd. Corporate Events

NALCO Charts Future with Innovation and Clean Energy at 44th AGM

NALCO held its 44th Annual General Meeting, where CMD Brijendra Pratap Singh highlighted the company’s record-breaking performance in FY 2024-25 and its strategic focus on innovation, technology adoption, and clean energy to meet growing aluminium demand. With domestic aluminium demand projected to grow at a CAGR of 7.6% until 2030, driven by electric vehicles, infrastructure development, and renewable energy, NALCO aims to leverage these opportunities through sustainable growth and strategic planning. The shareholders approved a final dividend, contributing to a total payout of Rs.1928.46 crores for FY 2024-25.

NALCO Achieves Record Financial Performance in FY 2024-25

National Aluminium Company Limited reported a remarkable financial performance for the fiscal year 2024-25, achieving its highest-ever revenue of ₹16,788 crores, marking a 28% growth over the previous year. The company also recorded a net profit of ₹5,325 crores, a 158% increase, and rewarded shareholders with a 210% dividend, highlighting its resilience and strategic market leadership amidst challenging global conditions.

NALCO Dispatches AGM Notices and Annual Report to Shareholders

National Aluminium Company Limited has announced the dispatch of notices for its 44th Annual General Meeting (AGM) along with the annual report to all eligible shareholders via email. The notice was published in several newspapers, including Business Standard, Sambad, and Navbharat, ensuring wide dissemination of information. This announcement is part of the company’s compliance with SEBI regulations and reflects its commitment to transparency and shareholder engagement.

NALCO Announces Virtual AGM and E-Voting for 2025

National Aluminium Company Limited has announced the scheduling of its 44th Annual General Meeting (AGM) for September 26, 2025, which will be held virtually. The company is providing a remote e-voting facility for shareholders to participate in decision-making, reflecting its commitment to compliance with regulatory requirements and enhancing shareholder engagement.