NLC India shares rose nearly 8% on Wednesday, November 4, after the state-run company reported a more than twofold year-on-year increase in consolidated net profit to ₹1,381 crore for the September quarter of FY27, compared with ₹665 crore in the year-ago period.
Revenue from operations increased 13.3% to ₹4,732 crore from ₹4,178 crore a year ago. However, operating performance remained under pressure, with EBITDA declining 2.3% year-on-year to ₹1,368 crore from ₹1,400 crore.
EBITDA margin contracted to 28.9% in the September quarter from 33.5% in the corresponding period last year, according to the company’s exchange filing.
Board approves OFS of 10 crore shares in Renewables arm’s IPO
Separately, the company’s board approved an offer for sale (OFS) of up to 10 crore equity shares held by NLC India in its wholly owned subsidiary, NLC India Renewables Ltd (NIRL), as part of the latter’s proposed initial public offering (IPO).
The proposed OFS will be subject to compliance with applicable SEBI regulations and other statutory and regulatory requirements. The board had earlier granted in-principle approval for the listing of NIRL at its meeting held on January 12, 2026.
Board approves additional 660 MW unit at Ghatampur
The board also approved the setting up of an additional 660 MW unit as an expansion project of NUPPL within the existing 1,886-acre premises of the Ghatampur Thermal Power Station, which currently has an installed capacity of 1,980 MW (3 x 660 MW).
Additionally, the board approved raising funds through the issuance of bonds in the nature of debentures worth up to ₹2,500 crore in phases, depending on the company’s requirements.
Declares interim dividend of ₹1.50 per share
The company declared an interim dividend of 15%, amounting to ₹1.50 per equity share with a face value of ₹10 each, for FY27.
The board has fixed November 12, 2026, as the record date to determine shareholders eligible for the interim dividend. The dividend will be paid to eligible shareholders within the prescribed statutory timelines, in one or more tranches.
NLC India shares rise 8% as Q2 net profit doubles; board clears Renewables IPO OFS