NLC India has appointed Dr. Prasanna Kumar Acharya as Chairman and Managing Director (CMD) effective September 17, 2026. The Ministry of Coal approved the appointment for a five-year term.

Dr. Acharya assumed charge from Shri Sanoj Kumar Jha, who held the additional charge of CMD. Dr. Acharya previously served as Director (Finance) and CFO of the company.

Leadership Transition Details

The appointment follows approval from the President of India via the Ministry of Coal letter dated September 16, 2026. The term is subject to government terms and conditions.

Professional Background

Dr. Acharya brings nearly three decades of experience in power, mining, and infrastructure sectors. He held key positions at GRIDCO, NTPC, and Tata Power before joining NLC India.

He holds a Bachelor's degree in Commerce (Honours) and an LLB from Utkal University. He also holds an MBA and is a Fellow Member of the Institute of Cost and Management Accountants of India.

During his tenure at NLC India, he led digital transformation initiatives including ERP modernisation and AI-enabled systems adoption. He contributed to securing approvals for coal block acquisitions and renewable energy projects.

The company aims to achieve more than 20 GW of power generation capacity and over 100 MTPA of mining capacity by 2030.

NLC India and PTC India Limited have incorporated a joint venture company named NIRL PTC Renewables Limited to develop green energy projects across India. The Ministry of Corporate Affairs issued the Certificate of Incorporation on September 16, 2026.

The new entity is a wholly owned subsidiary of NLC India Renewables Limited (NIRL), which itself is a wholly owned subsidiary of NLC India Limited. The partnership establishes a clear equity participation structure between the two state-owned power entities.

Joint Venture Structure

The joint venture operates with an equity split of 74:26. NLC India holds the majority stake through its subsidiary NIRL, while PTC India Limited holds the remaining share. This structure aligns with the strategic goals of both companies to expand their renewable energy portfolios.

NLC India Limited disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was issued on September 17, 2026.

What the Numbers Show

The 74:26 equity split indicates that NLC India retains controlling interest in the new venture. This majority stake allows NLC India to consolidate the financial results of NIRL PTC Renewables Limited in its own books, while leveraging PTC India's operational expertise in power generation. The specific capital contribution amounts were not disclosed in the filing.