NLC India Limited has expanded its renewable energy footprint through its wholly owned subsidiary, NLC India Renewables Limited, which incorporated a joint venture company with National Capital Region Transport Corporation (NCRTC). The new entity, named NIRL NCRTC Renewables Limited, was established on May 27, 2026, to develop grid-connected solar PV power projects, marking a strategic move to enhance sustainable energy infrastructure.

The joint venture operates with an equity participation ratio of 74:26, split between NLC India Renewables Limited and NCRTC. The Ministry of Corporate Affairs issued the Certificate of Incorporation for NIRL NCRTC Renewables Limited on May 27, 2026, formalizing the partnership between the two entities.

Joint Venture Structure

The incorporation of NIRL NCRTC Renewables Limited aligns with the strategic objectives of both organizations to leverage their respective strengths in the energy and transportation sectors. The 74:26 equity split defines the governance and financial stake of the parent companies in the new venture.

Strategic Focus

The primary mandate of the joint venture is the setting up of grid-connected solar PV power projects. This initiative supports the broader national agenda for increasing renewable energy capacity and reducing carbon footprints through sustainable power generation solutions.

NLC India Limited reported a 39% year-on-year increase in Profit After Tax (PAT) to ₹3,769 crore for the financial year ended March 31, 2026, driven by strong operational performance across its mining and thermal segments. Revenue from Operations grew 15% YoY to ₹21,525 crore, while the EBITDA margin stood at 43%. The company also added 303 MW of renewable capacity during the year, aligning with its strategic pivot towards a diversified energy platform.

The disclosure was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing, submitted by Sushanta Kumar Panda, Company Secretary & Compliance Officer, provides a comprehensive overview of the group's financial and operational milestones for FY26.

Financial Performance

NLC India's consolidated financials reflected robust growth with Total Income reaching ₹18,467 crore. The Net Profit Margin improved to 20.49%, and the Earnings Per Share (EPS) rose to ₹25.40. The company maintained a healthy financial position with a Net Worth of ₹53,774 crore and a Debt-to-Equity ratio of 0.56.

Operational Highlights

Operationally, the company achieved an annual coal production of 19.14 MT and dispatch of 17.69 MT. The renewable subsidiary, NLC India Renewables Limited (NIRL), secured 2 GW of RE projects and 3,300 MWh of Battery Energy Storage System (BESS) contracts across various state utilities including PSPCL, NHPC, and GUVNL. The group's total installed capacity reached 5,960 MW of thermal and 1,734 MW of renewable energy.

Strategic Outlook

Looking ahead, NLC India plans to scale its renewable capacity to 10,110 MW by 2030, supported by a planned Initial Public Offering of NIRL in FY2027. The company is targeting a balanced 20,130 MW integrated energy platform by the end of the decade, contributing significantly to India's 500 GW non-fossil fuel energy pathway.