NATIONALUMNational Aluminium Company Ltd.
National Aluminium Company Q2 FY27 Results: Consolidated Net Profit ₹1,835 Crore on Total Income of ₹5,668 Crore
- Earnings
- Aluminium and chemicals
Reviewed byKeshav SehgalBlacklitt Research
National Aluminium Company (NSE: NATIONALUM) reported total income of ₹5,667.52 crore and consolidated net profit of ₹1,835.05 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone net profit for the quarter was ₹1,835.09 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹5,667.52 crore, up 27.5% YoY and 3.5% QoQ
- Net profit and EPS: ₹1,835.05 crore, up 28.3% YoY and down 8.4% QoQ; basic EPS ₹9.99
- Interim dividend: ₹4.50 per share, total ₹826.48 crore, record date 06 Nov 2026
Standalone
The company on its own, without its subsidiaries
- Total income: ₹5,667.52 crore, up 27.5% YoY and 3.5% QoQ
- Net profit and EPS: ₹1,835.09 crore, up 28.0% YoY and down 8.4% QoQ; basic EPS ₹9.99
- Aluminium segment: Segment profit before tax, exceptional items and interest of ₹2,058.15 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,667.52 | 4,443.81 | +27.5% | 5,475.68 | +3.5% | |
| Revenue from operations | 5,419.44 | 4,292.34 | +26.3% | 5,302.38 | +2.2% |
| Other income | 248.08 | 151.47 | +63.8% | 173.30 | +43.2% |
| 1,835.05 | 1,429.94 | +28.3% | 2,003.14 | -8.4% | |
| Profit before tax | 2,471.30 | 1,892.00 | +30.6% | 2,689.66 | -8.1% |
| Finance costs | 9.56 | 8.36 | +14.4% | 9.55 | +0.1% |
| Depreciation | 177.74 | 173.75 | +2.3% | 182.35 | -2.5% |
| Tax expense | 636.25 | 462.06 | +37.7% | 686.52 | -7.3% |
| Net profit margin | 32.38% | 32.18% | +0.20 pp | 36.58% | -4.20 pp |
| EPS, basic (₹) | 9.99 | 7.79 | +28.2% | 10.91 | -8.4% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Net profit grew faster than total income. Consolidated net profit rose 28.3% YoY against 27.5% for total income, and profit before tax rose 30.6%, so the gain in profit came mainly at the level of profit before tax, with tax expense up 37.7% to ₹636.25 crore.
Other income of ₹248.08 crore, up 63.8% YoY, is 4.4% of total income and 10.0% of profit before tax. Revenue from operations grew more slowly, at 26.3%, so other income carries a larger share of the quarter than a year earlier. Finance costs of ₹9.56 crore are 0.2% of total income.
Against the previous quarter, total income rose 3.5% while net profit fell 8.4%. The statement notes that revenue from two wind power plants in Rajasthan is not recognised because a fresh power purchase agreement has not been executed since 01.04.2019, and that the matter is sub judice before the High Court of Rajasthan on a writ petition filed by the Company. The auditors draw attention to this matter without modifying their conclusion.
The share of loss of joint ventures was ₹0.04 crore this quarter, against a profit of ₹0.76 crore in the previous quarter and a loss of ₹3.23 crore a year earlier, so it is small against both the net profit and the gap between the two natures.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,667.52 | 4,443.81 | +27.5% | 5,475.68 | +3.5% | |
| Revenue from operations | 5,419.44 | 4,292.34 | +26.3% | 5,302.38 | +2.2% |
| Other income | 248.08 | 151.47 | +63.8% | 173.30 | +43.2% |
| 1,835.09 | 1,433.17 | +28.0% | 2,002.38 | -8.4% | |
| Profit before tax | 2,471.34 | 1,895.23 | +30.4% | 2,688.90 | -8.1% |
| Finance costs | 9.56 | 8.36 | +14.4% | 9.55 | +0.1% |
| Depreciation | 177.74 | 173.75 | +2.3% | 182.35 | -2.5% |
| Tax expense | 636.25 | 462.06 | +37.7% | 686.52 | -7.3% |
| Net profit margin | 32.38% | 32.25% | +0.13 pp | 36.57% | -4.19 pp |
| EPS, basic (₹) | 9.99 | 7.80 | +28.1% | 10.90 | -8.3% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone figures track the consolidated ones closely. Total income of ₹5,667.52 crore is the same in both, and standalone net profit of ₹1,835.09 crore is ₹0.04 crore above the consolidated figure. Standalone net profit rose 28.0% YoY, slower than profit before tax at 30.4%.
The Aluminium segment reports profit before tax, exceptional items and interest of ₹2,058.15 crore for the quarter, against ₹2,325.70 crore in the previous quarter, while the Chemicals segment reports ₹281.90 crore. The segment figures are standalone and show the Aluminium segment as the larger contributor.
The six-month figures are standalone total income of ₹11,143.20 crore and profit for the period of ₹3,837.47 crore, against ₹8,374.26 crore and ₹2,497.03 crore a year earlier.
The company's paid-up equity share capital is ₹918.32 crore, with a face value of ₹5 each. The Board approved an interim dividend of ₹4.50 per share for FY 2026-27 on 02 Nov 2026, with a record date of 06 Nov 2026 and payment due on or before 01 Dec 2026. For FY 2025-26, the total dividend was ₹11.50 per share, or ₹2,112.12 crore, including a final dividend of ₹1.00 per share approved at the 45th AGM on 31 Aug 2026.
Inference
The filing sets out an interim dividend of ₹826.48 crore for FY 2026-27 and the record date of 06 Nov 2026. The filing does not say how the company plans to fund it or what share of future profit it will pay out.
The filing does not state the amount of revenue at stake or when the court will rule.
Filed with BSE on . Reference: Original filing (PDF)
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