National Aluminium Company Ltd

Regulatory fine and waiver request

• Board discusses SEBI LODR non-compliance fine of Rs 14,13,340 for quarter ended 30.06.2026.
• The fine includes GST of 18% on basic fine of Rs 12,13,000.
• NALCO cites CPSE status; director appointments rest with Government of India.
• Board notes appointment of Independent Directors is beyond the company's control.
• A waiver/condonation request was submitted on 31.08.2026 to BSE/NSE.
• Board resolution at 371st meeting (25.09.2026) advised informing exchanges of CPSE status.
• Independent Directors appointment urgency being pursued with Administrative Ministry.
• No current impact on operations; matter under regulatory consideration.

Change in Senior Management

• Shri J. Rajesh Kapoor, Executive Director In-charge (Materials), superannuated on 30 September 2026.
• Intimation under SEBI LODR for change in senior management.

Roadshow highlights

• Roadshow in Kolkata showcases Angul Aluminium Park investment opportunities.
• AAPPL, a NALCO-IDCO joint venture, offers downstream aluminium ecosystem and investor access.
• Hot metal: 50,000 tonnes/year supplied to downstream investors at discounted rate.

Dividend and financial highlights

• FY2025-26 PAT reported at ₹5,815.76 crore.
• Total FY2025-26 dividend: ₹2,112.12 crore.
• Government share of dividend: ₹1,083.06 crore.

Promotions to Executive Director

• Shri Srimanta Panda promoted as Executive Director; joined 1994 as Management Trainee; previously CGM I/c (Finance).
• Shri Siddhartha Das promoted as Executive Director; joined 1990 as Graduate Trainee; previously CGM (Materials).
• Shri Sanjay Gupta promoted as Executive Director; joined 2018 as General Manager (Finance); previously CGM I/c (Finance).
• Shri Pramath Kumar Mohanty promoted as Executive Director; joined 1989 as Graduate Trainee; previously CGM I/c (Production).
• Shri Pranab Kumar Das promoted as Executive Director; joined 1992 as Graduate Trainee; previously CGM I/c (S&P).

National Aluminium Company Limited: Trading window closed from 1 October 2026 until 48 hours after the unaudited quarterly/half-year results for the period ending 30 September 2026 (FY 2026-27)

Joint Statutory Auditors Appointment

• Change type: Appointment of Joint Statutory Auditors for 2026-27.
• Auditors appointed: M/s. B M Chatrath & Co. LLP and M/s. SRB & Associates.
• Date of appointment: 07 September 2026.
• Term: Financial Year 2026-27.
• Reason: Appointment by CAG for 2026-27.
• Profile: B M Chatrath & Co. LLP – century-old firm with India offices.
• Profile: SRB & Associates – established 1978, 300+ staff.

AGM Details

• 45th AGM held on 31 August 2026 at 11:00 AM via VC/OAVM; concluded 12:50 PM.
• Cut-off for eligibility to vote: 24 August 2026; e-voting window: 28–30 August 2026.
• Remote e-voting facility arranged; results communicated after Scrutinizer's report.

Dividend

• Final dividend of Rs 1 per share; total dividend Rs 11.50 per share.

Key Resolutions

• (1) Adopt audited financial statements for the year ended 31 March 2026.
• (2) Declare final dividend of Rs 1 per share; total Rs 11.50 per share.
• (3) Re-appoint Jagdish Arora as Director (Projects & Technical) by rotation.
• (4) Appoint Anil Kumar Singh as Director (Commercial) liable to retire by rotation.
• (5) Appoint Veena Kumari Dermal as Part-time Official Director, liable to retire by rotation.
• (6) Ratify remuneration of Cost Auditors for FY2027.
• (7) Appoint Neeraj as Part-time Non-official (Independent) Director; Special Resolution.

Voting Results

• (1) Adopted: 96.59% for, 3.41% against.
• (2) Dividend: 99.58% for, 0.42% against.
• (3) Jagdish Arora: 80.82% for, 19.18% against.
• (4) Anil Kumar Singh: 80.82% for, 19.18% against.
• (5) Veena Dermal: 75.68% for, 24.32% against.
• (6) Cost Auditors: 99.58% for, 0.42% against.
• (7) Neeraj: 92.82% for, 7.18% against.

Director Changes

• Shri Neeraj appointed as Part-time Independent Director for three years w.e.f. 14 Aug 2026.
• Shri Jagdish Arora re-appointed as Director (Projects & Technical) by rotation.
• Dr. Veena Kumari Dermal appointed as Part-time Official Director; liable to retire by rotation.
• Shri Anil Kumar Singh appointed as Director (Commercial); terms determined by Government of India.

Auditor Appointments

• Statutory auditors remained unchanged.
• Remuneration of Cost Auditors ratified for FY2027.

Material Related Party Transactions

• No material related party transactions approved.

Business Overview

• Integrated aluminum value chain across mining, refining, smelting, and power.
• Navratna CPSE under the Ministry of Mines; global low-cost bauxite and alumina producer.
• One of India's largest integrated bauxite–alumina–aluminium–power complexes.

Operational Highlights

• FY25-26: Bauxite excavation 77.01 LT; transportation 77.07 LT.
• FY25-26: Alumina hydrate production 23.00 LT; calcined alumina 22.75 LT.
• FY25-26: Cast metal 4.72 LT; net generation 6,953 MU; coal production 40 LT.
• Q1 FY2026-27: Revenue 5,302 crore; PAT 2,002 crore.
• Q1 FY2026-27: Bauxite excavation 19.52 lakh tonnes; calcined alumina 5.77 lakh tonnes.
• Q1 FY2026-27: Sale of alumina/hydrate 3.47 lakh tonnes.
• CAPEX FY25-26: ₹2,068 crore, up 48% YoY.
• Procurement: GeM ₹4,200 crore; MSE procurement ₹1,446 crore.
• MOU with Numaligarh Refinery for CP Coke supply.

Financial Performance

• FY25-26 revenue ₹17,843 crore, up 6% YoY.
• PAT ₹5,816 crore, up 9% YoY.
• EBITDA ₹8,613 crore, up 9% YoY.
• Dividend ₹2,020 crore, up 10% YoY.
• CAPEX ₹2,068 crore, up 48% YoY.
• FY25-26 marked highest-ever revenue and PAT.
• Q1 FY2026-27 revenue ₹5,302 crore; PAT ₹2,002 crore.

Capital Structure & Liquidity

• Share capital: 183.66 crore shares, face value ₹5.
• JV UADNL: debt:equity 70:30; project cost ₹4,542 crore.

Strategic Priorities & Outlook

• Expansion: Pottangi bauxite mines 3.5 MTPA capacity.
• Alumina refinery at Damanjodi: 1 MTPA (5th stream).
• Angul smelter brownfield expansion: 0.5 MTPA; 1080 MW captive power.
• EGA technology agreement for Angul; pre-commissioning started June 2026.
• Pottangi mine MDO engaged Dec 2025 for operationalisation.

Risks & Mitigation

• Approach road work pending due to local agitation; MDO appointed.
• Ongoing ESG initiatives to manage environmental and social risk.

Governance & Leadership

• Independent Director appointed 14 Aug 2026; board committees reconstituted 25 Aug 2026.
• DPE self-appraisal: Excellent; emphasis on governance and transparency.
• 10 board-level committees; reinforced compliance framework.

Key update

• NALCO signs Technology Licensing Agreement with Emirates Global Aluminium for DX+ Ultra smelting tech.
• DX+ Ultra enables higher productivity and improved energy performance.
• Expansion will add about 0.5 MTPA, bringing total capacity to ~1 MTPA.
• Agreement signed in Dubai with CMD and EGA CEO present.