NLC India reported a 39% year-on-year increase in Profit After Tax (PAT) to ₹3,769 Cr for the financial year ended March 31, 2026. The company’s revenue from operations grew 14% to ₹17,490 Cr, while EBITDA rose 43% to ₹7,475 Cr, maintaining an EBITDA margin of 43%. The robust financial performance was driven by strong operational metrics across its mining and thermal segments, alongside a growing renewable portfolio.

The company added 303 MW of renewable capacity in FY26, bringing its total operational renewable capacity to 1,734 MW. NLC India Renewables Limited (NIRL), a wholly-owned subsidiary, has been established to consolidate renewable assets and drive the expansion toward a target of 10 GW by 2030. An Initial Public Offering of NIRL is planned in FY2027 to support this capital expenditure. The firm also secured 2 GW of renewable projects and 3,300 MWh of Battery Energy Storage System (BESS) contracts across various state utilities and central agencies.

Financial Performance FY26

Operational highlights for the year included an annual coal production of 19.14 MT and dispatch of 17.69 MT. The Pachwara South Coal Mine, with an award capacity of 9 MTPA, commenced coal production in March 2026. The company’s net worth stood at ₹21,525 Cr, reflecting a 15% YoY growth. The Board has recommended a dividend of 2.5% for shareholders' approval.

Strategic Outlook

NLC India outlined its strategic pivot to become a diversified energy platform, balancing its thermal portfolio with aggressive renewable expansion. The company plans to exit FY 2030 as a balanced 20,130 MW integrated energy platform. This includes scaling renewable capacity to 10,110 MW by 2030, supported by a significant capital expenditure plan focused on green energy, mining, and diversification projects. The firm is also exploring emerging areas such as critical minerals, green hydrogen, and lignite-to-methanol to open new revenue lines.

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.