NLC India Board Approves Q2 FY26 Results, ₹666 Cr Green Energy Investment, Refinancing
NLC India's board approved Q2 FY26 results with increased standalone profit, ₹666 Cr green energy investment, ₹1200 Cr refinancing, and new Company Secretary. Project commissioning and land issues were also noted.
The announcement includes significant financial results, substantial investment approvals, major debt refinancing, and key personnel changes, all of which materially impact the company's financial health, strategic direction, and operational stability.
Standalone profits increased significantly, and strategic green energy investments were approved. However, consolidated profits declined, and the company faces ongoing regulatory disputes and land availability challenges, balancing the overall sentiment.
* NLC India Limited's Board of Directors, at their meeting held on October 29, 2025, considered and approved the Standalone and Consolidated Unaudited Financial Results for the quarter and half year ended September 30, 2025. * Standalone Performance (Q2 FY26 vs Q2 FY25): * Revenue from Operations increased to ₹ 2,564.91 Crore from ₹ 2,139.22 Crore. * Profit for the period increased to ₹ 485.49 Crore from ₹ 339.39 Crore. * Basic Earnings per Equity Share (after regulatory deferral balances) rose to ₹ 3.50 from ₹ 2.45. * Consolidated Performance (Q2 FY26 vs Q2 FY25): * Revenue from Operations increased to ₹ 4,178.41 Crore from ₹ 3,657.33 Crore. * Profit for the period decreased to ₹ 724.80 Crore from ₹ 982.41 Crore. * Basic Earnings per Equity Share (after regulatory deferral balances) decreased to ₹ 5.23 from ₹ 7.08. * Key Approvals & Corporate Actions: * In-principle approval to invest up to ₹ 666 Crore in NLC India Renewables Limited (NIRL), a wholly-owned subsidiary, through equity subscription to fund Green Energy Projects. * Appointment of Shri Sushanta Kumar Panda as the Company Secretary and Compliance Officer (Key Managerial Personnel), effective October 30, 2025, following the cessation of Shri Prashant Vinay Kaushik on October 29, 2025. * Approval for borrowing a Rupee Term Loan of ₹ 1,200 Crore from Punjab National Bank for refinancing the existing Rupee Term Loan for the 1000 MW Neyveli New Thermal Power Station (NNTPS). * Project & Operational Updates: * 52.83 MW of the 300 MW Solar Power Project at Barsingsar was commissioned and declared commercially operational on August 20, 2025. The Scheduled Commissioning Date (SCOD) for the project has been extended up to December 31, 2025. * 8.8 MW of a 50 MW Solar Power Project in the Mined Out Area was successfully commissioned on September 27, 2025. * NLCIL received a Letter of Intent (LoI) from the Government of Chhattisgarh for two mineral blocks in Balod district on September 18, 2025. * The company is facing a deficit in land availability for lignite mining at Neyveli, impacting operations, but is confident of overcoming these challenges. * Regulatory & Financial Matters: * Ongoing regulatory deferral liabilities related to appeals against tariff orders (₹ 10.99 Crore, ₹ 128.41 Crore), disputed interest claims (₹ 417.63 Crore), and income tax recoverable from DISCOMs (₹ 407.32 Crore). * An amount of ₹ 173 Crore (cumulative up to September 2025) has been recognized as regulatory deferral income for the Tamil Nadu Mineral Bearing Land Tax, 2024, pending CERC approval.
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