National Aluminium reports strong H1 performance, targets significant expansion

National Aluminium Company Limited (NALCO) reported best-ever Q2 and H1 performance in FY '26, with H1 revenue from operations increasing by 18% and profit before tax (PBT) by 47%. Profit after tax (PAT) saw a substantial rise of 50.2%. Alumina sales volume surged by 81%, contributing approximately 700 crores, while efficiency gains added around 300 crores. Bauxite excavation increased by 6.25%, calcined alumina production by 31.33%, and cast metal production by 3%.

The company is progressing with its refinery expansion, which is 80% complete and targeted for commissioning in June 2026. This will boost existing refinery capacity from 2.1 million tons to 3.1 million tons. Additionally, NALCO plans a 500,000-ton smelter expansion within the next four to five years, aiming for completion by December 2030, with an estimated capex of 30,000 crores for both the smelter and a power plant.

The cost of alumina production is expected to remain stable, with a minimum margin of 10,000 to 11,000 per ton. NALCO also noted a significant reduction in power purchase from the grid, saving 136 crores in H1 compared to the previous year. The company's captive coal production is projected to reach 4 million tons annually.