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NLC India (NLCINDIA) had a P/E of 8.3× on 6 Nov 2026, below the industry P/E of 10.8×, and the shares are 39% below their 52-week high. It earns ROCE of 9.3% and ROE of 16%, and sales and net profit grew 2.7% and 36% a year over 3 years. Its dividend yield is 1.6%, and debt is 1.04× equity. It is a small-cap company with a market cap of ₹32,948 Cr, ranked 3rd of 11 Utilities (Regulated Electric) companies by market cap; the shares fell 7.9% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹241.00
Day high
₹242.35
Day low
₹235.20
Prev. close
₹241.47
Volume
16.7 L

Health check

1 good · 3 fair · 2 to check
  • ReturnsIn line

    −7.9% over a year, better than 4 of 7 peers.

  • Price tagCheaper

    P/E 8.3 vs industry 10.8.

  • GrowthSteady

    Sales +2.7%, profit +36.1% a year over 3 years.

  • ProfitabilityWeak

    ROCE 9.3% vs peer median 10.0%.

  • Balance sheetFair

    Debt 1.04× equity, interest covered 4.2×, Piotroski 7 of 9.

  • Red flags2 to check

    39% below its 52-week high.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Regulated Electric

10 listed peers. Screen the industry

Small cap

₹32,948 Cr, #3 of 11 in its industry by size.

Market sensitivity

Measuring against the NIFTY 50…

Key metrics

Last 12 months to Sep 2026: sales ₹18,738 Cr · profit ₹3,924 Cr
Market cap
₹32,948 Cr
Small cap
P/E
8.3
Industry 10.8
Price to book
1.41
Peers 1.47
Dividend yield
1.62%
ROE
15.8%
Peers 12.2%
ROCE
9.3%
Peers 10.0%
Debt to equity
1.04
Debt ₹28,248 Cr
EPS (TTM)
₹28.72
Face value ₹10
OPM (TTM)
32.2%
Net margin 20.9%
Sales growth
+15.5%
Latest quarter vs a year ago
Profit growth
+90.4%
Latest quarter vs a year ago
Price to sales
1.76
EV/EBITDA 10.2

Strengths and risks

Strengths

  • Quarterly profit up 90.4% on a year ago.
  • Quarterly sales up 15.5% on a year ago.
  • Net margin of 20.9%.
  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • 39% below its 52-week high.
  • Promoter stake down from 72.2% to 69.5%.

Derived automatically from reported figures. Not a recommendation.

About NLC India

NLC India Limited engages in the mining and power generation business in India. It operates through three segments: Mining, Power–Thermal, and Power – Renewab. The company mines for lignite and coal; and generates power through lignite and coal, as well as through thermal, solar, and wind power plants. It also operates open cast lignite mines with a mining capacity of 28.0 million tonnes per annum (MTPA) in Tamil Nadu and 30.10 MTPA in Rajasthan; and has…

Headquarters
Cuddalore
Employees
9,735
Sector
Utilities
ISIN
INE589A01014
Website
nlcindia.in

Price range

52 weeks

₹222.30₹387.80

Today

₹235.20₹242.35
Avg volume (3M)
17.5 L
1-year return
minus 7.9%
From 52-week high
minus 38.7%

Peers · Utilities - Regulated Electric

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
NTPCNTPC323.45plus 2.13%3,13,63910.69.68.9%30.8%1.261.9%minus 4.2%
POWERGRIDPower Grid Corporation of India259.90minus 0.48%2,41,72314.910.111.2%82.3%1.460.6%minus 6.4%
NLCINDIANLC India237.61minus 1.60%32,9488.310.19.3%31.4%1.042.7%minus 7.9%
CESCCESC126.25minus 3.07%16,73510.88.410.0%23.0%1.719.2%minus 28.5%
GIPCLGujarat Industries Power Company164.37minus 5.85%2,5515.110.74.4%41.2%0.943.2%minus 2.2%
BAJELBajel Projects163.49minus 2.83%1,89286.020.511.7%3.7%0.4967.5%minus 9.2%
DPSCLTDDPSC6.45minus 0.46%62880.6136.02.8%0.5%0.143.7%minus 44.8%
GVELECTRICG V Electricals104.00minus 1.81%11711.27.039.4%10.6%0.4914.5%minus 37.3%
Median of 7 peers–−1.81%2,55111.210.110.0%23.0%0.943.7%−9.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Sep 25Dec 25Mar 26Jun 26Sep 26
3,826–4,4435,0424,7174,732
2,891–2,9643,2683,2453,365
935–1,4791,7741,4711,368
24.4%–33.3%35.2%31.2%28.9%
497–229802228263
299–269364382438
539–597695666729
594–8431,518652465
−41.4%–14.1%2.4%33.0%−185.8%
798–6661,3934841,381
–4.805.2210.053.089.96

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+2.7%
Profit CAGR 3Y
+36.1%
EPS CAGR 3Y
+35.2%
ROE
15.8%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
16,16513,00115,28317,489
–minus 19.6%+17.5%+14.4%
11,4739,28210,06211,538
4,6923,7205,2205,951
29.0%28.6%34.2%34.0%
1,2031,7971,3851,432
8357788611,207
1,8011,8251,8842,379
−1,203−32−16377
2,0562,8823,6973,875
30.7%35.2%26.6%2.7%
1,3961,8542,6213,522
–+32.8%+41.4%+34.4%
10.2813.3718.9025.40

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,3871,3871,3871,387
13,78215,14417,33620,138
22,33322,41522,42927,892
15,56615,99516,70015,786
53,06854,94257,85165,202
40,14542,42947,87554,354
16,26719,26717,38918,009
497743–29.1
82.5565189713
−3,925−8,062−7,602−7,903
53,06854,94257,85165,202

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
4,1715,5128,9775,166
−2,499−3,059−7,160−7,549
−1,735−1,985−2,1962,907
−61.9468−379525
−2,603−3,168−7,340−7,945
1,5682,3441,637−2,779
−428−498−440−736

Shareholding pattern

Source: NSE filings
69.5%
promoters
  • Promoters69.47%
  • Public30.53%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202669.47%30.53%0.00
30 Jun 202669.47%30.53%minus 2.73
31 Mar 202672.20%27.80%0.00
31 Dec 202572.20%27.80%0.00
30 Sep 202572.20%27.80%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

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