National Aluminium Company · tone and specificity signals across the available quarters.
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We have both upward and downward integration. Upward integration means we have our own bauxite mines where we are getting very good quality bauxite, sufficient quantity of bauxite. Now we are having our own coal mines from where at least maybe 60% of coal we are getting, which is again giving advantage to us.
As a PSU, we have to go through a process. Very soon, we'll be onboarding the technology supplier. The DPR preparation, since you said it's ongoing, so that would be basis finalization of the technology supplier, right? Or is it something which happens after the technology supplier is identified? I didn't get your question. Can you come again, please?
Whatever we have sold in export market, every month, one shipment is going for long-term and the rest is going on spot. On an average, four shipments per month we are doing exports. We are aiming to go more on the spot. Maybe it will be somewhere around 80% spot and 20% long-term.
The major contributor, if we see H1 compare H1 of 2024-2025 and 2025-2026, has been the increase in volumes. Our alumina volume has increased substantially. The increase in volume has given us around INR 700 crore, and efficiency has given us around INR 300 crore.
We are not expecting to further increase (caustic soda cost). It may slightly go down or remain at the same level.
Whatever our cost of production of alumina will be there, we will be getting at least we'll be having a positive margin. Minimum, we'll be getting a INR 10,000 plus margin per ton in our export market or in the domestic market.
Profit in 2024 has surged threefold. 2024 Q3... The cumulative PAT up to December 25 is higher by 211% compared to the previous nine-month period.
Whatever expansions will be coming in the coming time, we will be able to fund our expansions in an easy manner
We have to go for leveraging, definitely. We have to go for debt... with more than INR 17,000-17,500 net worth, company will be in very good position to finance entire capex of metal and power plant expansion through external financing.
Today, NALCO registered a landmark result for the quarter and nine months, ended December 2025. Both we have recorded best ever physical performance in Q3 and also up to Q3, and also best ever financial performance.
In spite of reduction in the prices of alumina, our profitability, we were able to maintain because of increase in volume and better efficiencies, that is the improvement in techno-economic factors.
We are expecting that around 300,000 tons of alumina producing from there from this year onwards. We are trying to have some long-term contract, one year or maybe two years. Middle East, some parties have approached us.
This year also, whatever plan we have made, physical performances and financial, we will be targeting around maybe 36%-37% EBITDA margin. And profitability, of course, may vary depending on the prices of alumina and prices of aluminum.
We have completed 75% of our financial commitment. It is along with the project progress. So only 25% of commitment is left. And it is not going to increase our cost of the project. We are completing the project in the approved budget itself. So time has increased, but budget is not increased.
The proposal which our board had approved for INR 17,000 crore of investment in smelter and power plant would cost another INR 10,000 crore. That time, this IRR was taken. Now we are coming up with the fresh detailed project report for smelter as well as power plant. And after that, we'll be coming out with what will be the IRR.
In the year 2024, 2025, average alumina realization was around $580, which has come down to around $370 this year. Of course, in metal side, the average realization has increased from around $2,550 to around $2,700 US dollars. Major highlight is that we have been able to tap our potential, reach to the fullest capacity of our potential with a good improvement in our techno-economic figures.
This year, this financial year, there will be an excess of alumina in the market, and the pressure on the pricing will be there. Our target is by this month, this year, maybe September, October, we will be able to complete the DPR, get the board approval, and start the tendering process for procurement, which will take six to seven months.
If the whole year metal average price bears in the range of $3,000-$3,100, we'll be getting $400 more [vs FY2026 average]. That is a comfort zone we are expecting. Though there is some reduction in the alumina prices, we'll be getting that comfort in the metal price.