NLC India Limited (IN:NLCINDIA)
:NLCINDIA
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NLC India Limited
(NLCINDIA)
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Rating:66Neutral
Price Target:
₹401.00
▲(47.51% Upside)
Action:Reiterated
Date:05/15/26
The score is driven down primarily by weakened cash flow quality (negative free cash flow) and elevated leverage despite strong reported profitability. Offsetting these risks, the technical trend is strong and valuation is reasonable, supporting a mid-to-high overall score.
Positive Factors
Strong profitability and ROE
Sustained net margin near 20% and improving ROE indicate durable operating efficiency and return on capital. For a regulated generator, this implies structural cost control, tariff recovery and ability to fund operations and some investment from internal earnings over multiple years.
Negative Factors
Weak cash conversion / negative FCF
Recent negative free cash flow and a sharp drop in operating cash generation weaken financial resilience. Over the medium term this constrains funding for maintenance, renewables expansion or debt reduction and increases reliance on external finance if the trend persists.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability and ROE
Sustained net margin near 20% and improving ROE indicate durable operating efficiency and return on capital. For a regulated generator, this implies structural cost control, tariff recovery and ability to fund operations and some investment from internal earnings over multiple years.
Read all positive factors
NLC India Limited (NLCINDIA) vs. iShares MSCI India ETF (INDA)
Market Cap
₹484.56B
Dividend Yield1.2%
Average Volume (3M)250.76K
Price to Earnings (P/E)13.7
Beta (1Y)0.95
Revenue Growth14.45%
EPS Growth34.37%
CountryIN
Employees10,368
SectorEnergy
Sector Strength52
IndustryRegulated Electric
Share Statistics
EPS (TTM)19.25
Shares Outstanding1,386,636,700
10 Day Avg. Volume192,573
30 Day Avg. Volume250,756
Financial Highlights & Ratios
PEG Ratio0.31
Price to Book (P/B)1.77
Price to Sales (P/S)2.13
P/FCF Ratio-7.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)23.8
Revenue Forecast (FY)₹208.50B
NLC India Limited Business Overview & Revenue Model
Company Description
NLC India Limited operates in the mining and power generation business in India. It operates in two segments, Lignite Mining and Power Generation. The company generates power through thermal, wind, and solar photo voltaic power plants. The company...
How the Company Makes Money
NLC India Limited primarily earns revenue from (1) selling electricity generated from its thermal and renewable power assets and (2) mining-related income, including lignite sales and lignite-linked arrangements supporting its power business. A si...
NLC India Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
56
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 162.54B | 174.90B | 152.83B | 130.01B | 163.02B | 119.48B |
| Gross Profit | 125.74B | 91.94B | 131.93B | 114.87B | 138.89B | 102.84B |
| EBITDA | 55.60B | 55.88B | 52.00B | 36.96B | 64.82B | 47.78B |
| Net Income | 26.13B | 35.22B | 26.21B | 18.54B | 13.96B | 10.93B |
Balance Sheet | ||||||
| Total Assets | 609.43B | 647.44B | 578.51B | 549.42B | 530.68B | 497.85B |
| Cash, Cash Equivalents and Short-Term Investments | 7.43B | 8.43B | 1.87B | 5.65B | 824.80M | 1.39B |
| Total Debt | 243.68B | 278.92B | 224.29B | 224.15B | 223.33B | 220.86B |
| Total Liabilities | 376.64B | 399.28B | 359.07B | 355.76B | 354.42B | 334.11B |
| Stockholders Equity | 199.66B | 210.67B | 187.23B | 165.31B | 151.69B | 141.89B |
Cash Flow | ||||||
| Free Cash Flow | -7.33B | -46.72B | 16.37B | 23.64B | 11.58B | 68.53B |
| Operating Cash Flow | 32.05B | 32.73B | 89.77B | 56.24B | 37.61B | 77.70B |
| Investing Cash Flow | -38.22B | -76.39B | -71.60B | -31.51B | -20.89B | -7.63B |
| Financing Cash Flow | 8.35B | 48.90B | -21.96B | -19.85B | -17.35B | -70.25B |
NLC India Limited Technical Analysis
Positive
271.85
Price Trends
303.02
Positive
279.70
Positive
263.76
Positive
Market Momentum
13.14
Positive
59.34
Neutral
25.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NLCINDIA, the sentiment is Positive. The current price of 271.85 is below the 20-day moving average (MA) of 337.84, below the 50-day MA of 303.02, and above the 200-day MA of 263.76, indicating a bullish trend. The MACD of 13.14 indicates Positive momentum. The RSI at 59.34 is Neutral, neither overbought nor oversold. The STOCH value of 25.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NLCINDIA.
NLC India Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹484.56B | 13.68 | ― | 1.20% | 14.45% | 34.37% | |
66 Neutral | ₹156.81B | 42.41 | ― | ― | 1.85% | -44.63% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | ₹3.86T | 11.08 | ― | 2.66% | -0.38% | 15.48% | |
65 Neutral | ₹4.80T | 36.62 | ― | ― | -1.75% | -0.85% | |
55 Neutral | ₹1.10T | 46.57 | ― | 0.41% | 60.92% | 14.55% | |
49 Neutral | ₹114.35B | -33.94 | ― | ― | 0.49% | -111.08% |
* Energy Sector Average
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NLC India Limited Corporate Events
NLC India Elevates Kalaga Venkata Ramachandra Subbarao to Executive Director Role
May 2, 2026
NLC India Limited has promoted Shri Kalaga Venkata Ramachandra Subbarao to the role of Executive Director, classified as senior management personnel, effective 1 May 2026. A seasoned finance professional with over 29 years of experience across eng...
NLC India Wins Composite Licences for Phosphorite-Limestone Blocks in Chhattisgarh
Apr 25, 2026
NLC India Limited has secured composite licences for the Semhardih and Raipura Phosphorite Limestone blocks in Balod district, Chhattisgarh, following its success as preferred bidder in the Ministry of Mines’ Tranche-V auction for critical ...
NLC India JV Begins Coal Production at Pachwara South for Ghatampur Plant
Mar 29, 2026
Neyveli Uttar Pradesh Power Limited, a joint venture of NLC India Limited and U.P. Rajya Vidyut Utpadan Nigam with a 51:49 equity structure, is developing a 3 x 660 MW Ghatampur Thermal Power Plant in Uttar Pradesh. To secure fuel for this project...
NLC India Secures AAA Rating on New ECB and Existing Term Loan
Mar 10, 2026
NLC India Limited announced that Acuite Ratings Research has assigned a top-tier ACUITE AAA with Stable outlook to its new ₹1,000 crore External Commercial Borrowing facility. The rating agency also reaffirmed the ACUITE AAA with Stable out...
NLC India Elevates Ashok Kumar Mali to Executive Director Role
Feb 28, 2026
NLC India Limited has promoted Shri Ashok Kumar Mali to the position of Executive Director, a senior management role, effective 1 March 2026. The move reflects an internal elevation in line with company policy and signals continuity in leadership ...
NLC India Seeks Waiver After BSE Fine Over Board Composition Lapse
Feb 28, 2026
NLC India Limited has disclosed that BSE has levied a fine of Rs. 5,42,800 for non-compliance with SEBI’s board composition rules, specifically the requirement to appoint a woman director, though the company stated the penalty has no impact ...
NLC India Announces Superannuation-Based Exit of Executive Director Vanchinathan T
Feb 28, 2026
NLC India Limited has announced that Executive Director and senior management member Shri Vanchinathan T has ceased to hold office as of February 28, 2026, upon attaining the age of superannuation. The company has notified the National Stock Excha...
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.