NLC India signed a Memorandum of Understanding with Nuclear Power Corporation of India Limited (NPCIL) on May 25, 2026, to form a Joint Venture (JV) for the development of nuclear power projects in India. The partnership aims to establish 700 MW Indigenous Pressurised Heavy Water Reactor (PHWR) based projects or other reactors of suitable capacity. This strategic move supports the nation's target of achieving 100 GW Nuclear Power Capacity by 2047 and aligns with the vision of Net Zero Carbon emissions.

The MoU was signed by Shri. Venkatachalam, Director/Power of NLCIL, and Shri. Rajesh, Director/Technical of NPCIL. The ceremony was attended by Shri. Prasanna Kumar Motupalli, Chairman and Managing Director of NLCIL, and Shri. Bhuwan Chandra Pathak, Chairman and Managing Director of NPCIL, along with functional directors from both organizations. The collaboration also envisages investment opportunities in NPCIL's existing and upcoming 700 MW PHWR projects through the proposed JV framework.

Strategic Context and Policy Framework

The initiative gains significance following the enactment of the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill in December 2025. This legislation aims to modernize the policy framework governing the nuclear sector. NLCIL, a Navratna Central Public Sector Enterprise under the Ministry of Coal, has been expanding its portfolio into renewable and green energy sectors, including solar, wind, and battery energy storage systems.

Project Details and Objectives

The key aspects of the proposed joint venture and its strategic objectives are outlined below:

Shri. Prasanna Kumar Motupalli, Chairman and Managing Director of NLC India Limited, stated that the partnership marks a significant milestone in the company's strategic diversification into clean energy sectors. He emphasized that nuclear energy is vital for ensuring India's long-term energy security and achieving Net Zero Carbon emissions. The collaboration leverages NLCIL's experience in the power sector and NPCIL's expertise in nuclear energy to develop sustainable power projects.

NLC India Limited announced a historic financial and physical performance for the fiscal year ended March 31, 2026. The company achieved its highest-ever production and generation figures since inception alongside record capital expenditure. The Board of Directors approved the audited financial results for FY 2025-26 at a meeting held on May 13, 2026.

Operational Highlights

The company recorded significant capacity additions of 1,013 MW during the year, comprising 660 MW of thermal power and 353 MW of renewable energy. Annual coal production from Talabira II & III OCP reached 19.14 MT, while renewable energy power generation stood at 2.26 BU. Additionally, the Pachwara South Coal Mine commenced coal production in March 2026. The company executed its highest-ever capital expenditure of over ₹9,131 Cr.

Consolidated Financial Performance

NLC India reported its highest-ever consolidated revenue from operations of ₹17,490 Cr for FY26, a growth of 14.44% compared to ₹15,283 Cr in the previous year. Profit after tax (PAT) surged 38.91% to a record ₹3,769 Cr from ₹2,714 Cr. EBITDA increased 14.78% to ₹7,475 Cr. The net worth stood at ₹21,525 Cr, registering a growth of 14.96%.

Standalone Performance and Dividend

On a standalone basis, revenue from operations grew 5.62% to ₹10,864 Cr, while PAT increased 32.90% to ₹2,525 Cr. The company achieved a coal production of 19.14 MT, an 11.28% increase over the previous year. The Board recommended a final dividend of 2.50%, or ₹0.25 per equity share, for FY 2025-26, subject to shareholder approval. An interim dividend of 36%, or ₹3.60 per share, was already declared and paid during the year.