NALCO shares climb after Kotak and ICICI upgrades, as ratings split between buy and add
National Aluminium Company Ltd. (NALCO) posted a strong Q1 FY2026, with revenue at ₹3,806.9 crore, up 39% year on year. Net profit rose 91% to ₹1,049 crore, while EBITDA increased 82% to ₹1,488 crore, helped by higher aluminium prices as well as improved output and sales volumes. The company is progressing pre-commissioning work for a 1 million tonne-per-annum alumina refinery, with commercial operations expected to start in Q3 FY2027. It also plans to ramp up captive coal production to 4.8 million tonnes per annum to ease cost pressures.