NLC India Limited has appointed Shri Poonam Chandrakar as a Non-Official Independent Director on its Board for a term of three years. The appointment is effective from July 16, 2026, or until further orders, whichever is earlier, following a directive from the Ministry of Coal, Government of India.

The Ministry of Coal issued the appointment order via Letter No. 21/21/2022-Estt (B) dated July 15, 2026. NLC India confirmed that Shri Chandrakar is not debarred from holding the office of Director by the Securities and Exchange Board of India or any other authority. The disclosure was made to the exchanges in compliance with Regulation 30 and 51 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri Poonam Chandrakar is an experienced public administrator with over two decades of expertise in governance, public administration, and policy implementation. He has held various leadership roles in public service, contributing to administrative reforms, infrastructure development, and stakeholder engagement across sectors such as power, mining, and public administration.

Director Profile

Shri Chandrakar holds a Bachelor's Degree in Arts from Kakatiya University, Warangal, and a Diploma in Marketing Management from Indira Gandhi National Open University (IGNOU). He has also completed courses in Journalism and Arogya Ratna. The company disclosed that he is not related to any of the existing directors on the Board.

NLC India Limited has signed a Joint Venture Agreement with National Aluminium Company Limited (NALCO) to incorporate a Joint Venture Company for the development of a 4×270 MW (1,080 MW) coal-based thermal captive power plant at Angul, Odisha. The project is intended to meet the captive power requirement of NALCO's 0.5 MTPA Aluminium Smelter Expansion Project. The agreement was signed on July 8, 2026, and disclosed to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Joint Venture Company will be newly incorporated with NLC India and NALCO holding equity shares in a 50:50 ratio. Equity shares will be issued at a face value of ₹10 each. Both parties will have equal nomination rights on the Board of the Joint Venture Company. While the parties are related to promoter or group companies, the transaction does not fall within related party transactions.

Key Terms of the Agreement

The agreement outlines specific operational and financial terms for the Joint Venture Company, including long-term agreements for fuel supply and power purchase to ensure the viability of the captive power plant.

• Equity Participation: 50:50 ratio between NLC India and NALCO.
• Fuel Supply: The Joint Venture Company will execute a Fuel Supply Agreement (FSA) with NLC India from its Machhakata coal mine or any other mines for a period of 25 years.
• Power Purchase: The Joint Venture Company will execute a 25-year Power Purchase Agreement (PPA) with NALCO for 100% offtake of power under Section 62 of the Electricity Act, 2003.

The table below summarizes the key details of the agreement: