National Aluminium

Nalco reported its best-ever financial performance in FY26, with revenue of ₹17,843 croreCurrent reported value: ₹17,843 crore. No comparable prior figure is available in the source record. (+6.3Current reported value: 6.3. No comparable prior figure is available in the source record.% YoY), EBITDA of ₹8,613 croreCurrent reported value: ₹8,613 crore. No comparable prior figure is available in the source record. (+8.7% YoY), and PAT of ₹5,816 croreCurrent reported value: ₹5,816 crore. No comparable prior figure is available in the source record. (+9.2Current reported value: 9.2. No comparable prior figure is available in the source record.% YoY). The strong results were driven by record physical output across bauxite, alumina, and aluminium, along with cost efficiencies and higher metal realizations (LME average ~$2,700/tonne vs. $2,550 last year), which offset a sharp decline in alumina prices (from $580 to $370/tonne). Management guided for FY27 alumina production of ~25 lakh tonnes (including 2 lakh tonnes from the new fifth stream refinery commissioning from June) and aluminium production of ~4.73 lakh tonnes. Capex is expected to ramp up to ₹4,000-5,000 crore in FY28 for the new smelter and power plant. Key risk: further weakness in alumina prices (expected ~$310/tonne) could pressure segment profitability, though higher aluminium realizations may provide a buffer.