NALCO shareholders approve FY26 results, ₹1.00 final dividend
- NALCO shareholders approved FY26 results and a final dividend of ₹1.00 per share
- Company posted record revenue, PBT, and PAT for FY25-26
- Interim dividend of ₹10.50 per share was paid earlier in the year
- Board approved expansions including alumina refinery and bauxite mines
*this image is generated using AI for illustrative purposes only.
National Aluminium Company Limited shareholders approved the adoption of audited financial statements for FY26 and declared a final dividend during its 45th Annual General Meeting. The meeting, chaired by Chairman-cum-Managing Director Brijendra Pratap Singh, concluded with unanimous approval of all ordinary and special business items.
The virtual meeting commenced at 11:00 am on August 31, 2026, and concluded at 12:50 pm. Quorum was present throughout the proceedings. The Board confirmed that statutory registers and documents were accessible to members via the company website as per regulatory requirements.
Record Performance and Dividend Payout
Addressing the shareholders, Shri Brijendra Pratap Singh highlighted NALCO's record operational and financial performance during FY 2025-26. The company posted its all-time highest Revenue from Operations, Profit Before Tax, and Profit After Tax. Peak sales were recorded in major segments, including Domestic Alumina and Aluminium Metal.
NALCO paid an interim dividend of ₹10.50 per equity share, amounting to ₹1,928.46 crore, in three tranches during FY 2025-26. Shareholders approved a final dividend of ₹1.00 per equity share, totaling ₹183.66 crore.
Key Resolutions Approved
Shareholders approved several critical governance and financial matters. The primary agenda included the confirmation of interim dividends paid earlier in the year and the declaration of the final dividend for the fiscal year ended March 31, 2026.
| Resolution Type | Key Action | Status |
|---|---|---|
| Ordinary | Adoption of FY26 audited financial statements | Approved |
| Ordinary | Declaration of final dividend for FY26 | Approved |
| Ordinary | Re-appointment of Jagdish Arora as Director | Approved |
| Ordinary | Appointment of Anil Kumar Singh as Director (Commercial) | Approved |
| Special | Appointment of Neeraj as Independent Director | Approved |
Voting Results Analysis
The consolidated scrutinizer's report from M/s. Saroj Ray & Associates details the voting patterns across resolutions. The promoter group, holding 941,793,011 shares, voted in favor of all resolutions without any dissenting votes. Public institutional shareholders showed varying levels of support, particularly for director appointments.
Resolution-wise Voting Breakdown
| Resolution | Total Votes Polled | Votes In Favor (%) | Votes Against (%) |
|---|---|---|---|
| Adoption of Financial Statements | 1,459,113,599 | 96.59% | 3.41% |
| Final Dividend Declaration | 1,462,069,171 | 99.58% | 0.42% |
| Re-appointment of Jagdish Arora | 1,461,945,966 | 77.54% | 22.46% |
| Appointment of Anil Kumar Singh | 1,461,945,966 | 80.82% | 19.18% |
| Appointment of Dr. Veena Kumari Dermal | 1,461,946,666 | 75.68% | 24.32% |
| Ratification of Cost Auditors | 1,461,946,667 | 99.58% | 0.42% |
| Appointment of Neeraj (Independent) | 1,461,946,666 | 92.82% | 7.18% |
Public institutional shareholders voted against the re-appointment of Jagdish Arora (63.15% against) and the appointment of Dr. Veena Kumari Dermal (68.40% against). However, the promoter group's full support ensured the passage of these resolutions. Non-institutional public shareholders largely supported all director appointments, with over 90% support in each case.
Board Appointments and Changes
The meeting addressed significant changes to the Board composition. Shri Jagdish Arora, Director (Projects & Technical), retired by rotation and offered himself for re-appointment, which was approved by shareholders.
New appointments included:
- Shri Anil Kumar Singh as Director (Commercial)
- Dr. Veena Kumari Dermal as Part-time Official Director
- Shri Neeraj as Part-time Non-official (Independent) Director
Shri Neeraj was initially appointed as an additional director effective August 14, 2026, following a Ministry of Mines order. His appointment as an independent director required a special resolution under Section 160 of the Companies Act, 2013, which was duly passed.
Future Expansion Plans
Shri Singh outlined NALCO's growth plans and long-term strategic priorities. Key expansion initiatives include:
- 5th Stream Expansion of the Alumina Refinery at Damanjodi
- Development of Pottangi Bauxite Mines
- Augmentation of captive coal capacity
- Proposed expansion of the Aluminium Smelter and Captive Power Plant at Anugola
The company also highlighted strategic initiatives in critical minerals, resource and energy security, circular economy, digital transformation, waste-to-wealth, and renewable energy.
Audit and Compliance Observations
The Company Secretary highlighted specific audit observations during the proceedings. While Statutory Auditors issued unqualified reports on the financial statements, Secretarial Auditors provided qualifying remarks in their report for FY26. Additionally, the Comptroller and Auditor General (C&AG) included comments in its Supplementary Audit Report for FY2025-26.
Management provided explanations for these observations during the meeting. The Independent Auditors' reports were not read aloud as there were no qualifications or adverse comments regarding the financial statements themselves.
Voting Process
The company utilized a hybrid e-voting mechanism. Remote e-voting was available from August 28 to August 30, 2026. Members who did not vote remotely could cast their votes electronically during the live meeting. M/s. Saroj Ray & Associates served as the scrutinizer for the voting process.
All resolutions passed with the requisite majority. The consolidated e-voting results are scheduled to be hosted on the company website, the Registrar & Share Transfer Agent's portal, and stock exchange websites.
Historical Stock Returns for NALCO
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.46% | -6.12% | -9.56% | -11.30% | +64.35% | +272.28% |
How will the significant dissent from public institutional shareholders regarding the appointments of Jagdish Arora and Dr. Veena Kumari Dermal impact NALCO's corporate governance dynamics and future board decisions?
What are the projected timelines and capital expenditure requirements for the 5th Stream Alumina Refinery expansion and the Pottangi Bauxite Mines development?
Given the qualifying remarks in the Secretarial Audit Report and comments from the C&AG, what specific compliance measures is management implementing to address these observations in FY27?
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
