NALCO , a Government of India Enterprise, has announced that its Board of Directors will convene on November 7, 2025, to consider declaring an interim dividend for the financial year 2025-26. This development comes as part of the company's ongoing financial management and shareholder value creation efforts.

Key Details of the Announcement

Implications for Shareholders

The consideration of an interim dividend is a significant event for NALCO's shareholders. If approved, this would represent a distribution of profits to shareholders before the annual financial results are declared. Interim dividends are often seen as a positive signal of a company's financial health and confidence in its near-term prospects.

Corporate Governance

NALCO's announcement aligns with the regulatory requirements set forth by the Securities and Exchange Board of India (SEBI). The company has duly informed the stock exchanges about the upcoming board meeting, demonstrating its commitment to transparency and compliance with listing obligations and disclosure requirements.

Investors and market participants will be keenly watching the outcome of this board meeting, as it may impact the company's stock price and overall market sentiment towards the aluminum sector. The final decision on the interim dividend will depend on various factors, including the company's financial performance, cash flow position, and future investment plans.

Shareholders and interested parties are advised to await the official announcement following the board meeting for confirmed details on any interim dividend declaration.

NALCO (National Aluminium Company Limited) has formally communicated to stock exchanges seeking waiver of penalties imposed for non-compliance with SEBI regulations. The company's board has taken cognizance of the fines and directed management to pursue penalty waivers, emphasizing its status as a Central Public Sector Enterprise.

Updated Penalty Structure and Board Response

The latest communication reveals updated penalty amounts from both exchanges:

The penalties relate to non-compliance with Regulation 17(1) of SEBI (LODR) Regulations, 2015 for the quarter ended September 30, 2025. Each exchange imposed a basic fine of ₹4.60 lakh plus 18% GST, totaling ₹5.43 lakh per exchange.

Board Meeting Decisions and Actions

In the 362nd Board meeting held on December 9, 2025, directors formally addressed the penalty issue. The board took the following key decisions:

Company's Defense Strategy

NALCO has consistently maintained that as a CPSE, director appointments are beyond its control. The company's defense includes:

• Presidential Authority: All directors are appointed by the President of India
• No Company Control: NALCO cannot independently appoint independent directors
• Continuous Follow-up: Regular communication with Administrative Ministry
• Statutory Compliance: Efforts to meet Companies Act 2013 and SEBI LODR requirements

Regulatory Timeline and Communications

The penalty notices were issued by exchanges on November 28, 2025, following which NALCO initiated a structured response:

The company has requested favorable consideration of its waiver application, emphasizing that the non-compliance stems from circumstances beyond its operational control. NALCO continues to pursue the matter with the Ministry of Mines to expedite the appointment of requisite independent directors to ensure future compliance with all statutory requirements.