In Week of Mar 28, 2026, NLC India Ltd (Power - Generation/Distribution) is outperforming Nifty 500 with +19.8% relative strength. Fundamentals: Average. On a 6-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: 660 MW thermal unit expected to add ₹300cr quarterly revenue
Impact: +₹300 Cr revenue
“Unit 3 of Ghathampur is progressing well, with steam blowing activities underway, and we aim to declare commercial operation within the current financial year. - CMD”
What: Captive coal source to reduce fuel costs by 8-10%
Impact: +₹800 Cr revenue
“Question on Pachwara coal block ramp-up and cost savings asked during call”
What: IPO expected Sept 2026 to unlock value
“All activities for the IPO are progressing rapidly, with cabinet approval and tax exemptions obtained. We expect the IPO to occur in September 2026. - CMD”
Earnings deceleration risks from management commentary
Trigger: Continued favorable weather conditions
Impact: -200 bps margin impact
Management view: The overall power demand in the country is lower due to favorable weather conditions, leading to flat generation levels. - CMD
Monitor: Capacity utilization rate
Trigger: Pachwara coal block ramp-up delayed
Impact: -350 bps margin impact
Management view: The cost of fuel is higher because the new units at Ghathampur are operational, which have a higher fuel cost. - CMD
Monitor: Fuel cost per unit
Trigger: Regulatory delays in cost recovery
Impact: -150 bps margin impact
Management view: There are under-recoveries in fixed costs, particularly in the TPS2 expansion, affecting financial performance. - Gurufocus report
Monitor: Regulatory deferral movements
Key quotes from recent conference calls
“Unit 3 of Ghathampur is progressing well, with steam blowing activities underway, and we aim to declare commercial operation within the current financial year. — Chairman and Managing Director”
“The cost of fuel is higher because the new units at Ghathampur are operational, which have a higher fuel cost. — Chairman and Managing Director”
“The overall power demand in the country is lower due to favorable weather conditions, leading to flat generation levels. — Chairman and Managing Director”
“All activities for the IPO are progressing rapidly, with cabinet approval and tax exemptions obtained. We expect the IPO to occur in September 2026. — Chairman and Managing Director”
Forward-looking targets from management for FY26-27
Revenue Growth Target
8%
Implied PAT Growth
10%
OPM Guidance
35%
Capex Plan
₹117000 Cr
Key Milestones
• Ghatampur Unit 3 COD by March 2026
• Pachwara coal block ramp-up FY27
• Renewable subsidiary IPO Sept 2026
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +1% | +8% | Stable |
| PAT (Net Profit) | +4% | +34% | Stable |
| OPM | 30.0% | +700 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
NLC India Ltd's latest quarterly results (Dec 2025) show
NLC India Ltd's profit is growing with an stable trend.
NLC India Ltd's revenue growth trend is stable.
NLC India Ltd's operating margin is volatile.
NLC India Ltd's long-term compounding rates
NLC India Ltd's earnings growth is stable with mixed signals on a sequential basis.
NLC India Ltd's trailing twelve month (TTM) performance
NLC India Ltd appears significantly undervalued based on our fair value analysis.
NLC India Ltd's current PE ratio is 14.4x.
NLC India Ltd's current PE is 14.4x.
NLC India Ltd's price-to-book ratio is 1.9x.
NLC India Ltd is rated Average with a fundamental score of 59.59/100. This score is calculated from objective financial metrics
NLC India Ltd has a debt-to-equity ratio of N/A.
NLC India Ltd's return ratios over recent years
NLC India Ltd's operating cash flow is positive (FY2025).
NLC India Ltd's current dividend yield is 1.33%.
NLC India Ltd's shareholding pattern (Dec 2025)
NLC India Ltd's promoter holding has remained stable recently.
NLC India Ltd has been outperforming Nifty 500 for 6 consecutive weeks, indicating building momentum.
NLC India Ltd is an established outperformer with 6 weeks of consecutive Nifty 500 outperformance.
NLC India Ltd has 3 key growth catalysts identified from recent earnings analysis
NLC India Ltd has 3 key risks worth monitoring
In Q3 FY26, NLC India Ltd's management highlighted
NLC India Ltd's management has provided the following forward guidance for FY26-27
Based on quantitative research signals, here is why NLC India Ltd may be worth studying
NLC India Ltd investment thesis summary:
NLC India Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
