NLC India Limited’s Board approved the Standalone and Consolidated Unaudited Financial Results for the quarter and nine months ended December 31, 2025. On a consolidated basis, Profit After Tax (PAT) grew significantly, with the basic EPS reaching ₹15.31 for the nine months. The company also provided updates on ongoing regulatory matters, including significant claims retained under Regulatory Deferral Liability, and noted the transfer of Renewable Energy Assets to a wholly-owned subsidiary effective January 1, 2026.
Financial Results for Q3 FY2025-26 Approved
The Board of Directors of NLC India Limited met on February 10, 2026, to consider and approve the Standalone and Consolidated Unaudited Financial Results for the quarter and nine months ended December 31, 2025. The results reflect robust performance across both segments, particularly in the consolidated segment.
Key Standalone Highlights (Nine Months Ended Dec 31, 2025)
- Total Income reached ₹8,832.68 Crore, compared to ₹8,388.48 Crore in the previous corresponding nine-month period.
- Profit Before Tax stood at ₹1,783.23 Crore.
- Profit After Tax for the period was ₹1,281.59 Crore.
- Basic Earnings Per Share (EPS) from Continuing Operations (after regulatory adjustments) was ₹9.24.
Key Consolidated Highlights (Nine Months Ended Dec 31, 2025)
- Total Income grew to ₹13,269.67 Crore from ₹12,917.56 Crore year-on-year.
- Profit Before Tax reached ₹2,357.54 Crore.
- Profit After Tax for the period was ₹2,287.80 Crore.
- The consolidated Net Profit Margin stood at 18.00% for the nine-month period.
- Basic EPS from Continuing Operations (after adjustments) was ₹16.50.
Operational and Regulatory Updates
The company provided several key updates impacting future revenue recognition and operations:
- Regulatory Claims: The company has retained a disputed interest amount of ₹417.63 Crore under Regulatory Deferral Liability related to a claim against TNPDCL, following an APTEL order.
- Mineral Land Tax: Following new legislation in Tamil Nadu, CERC recognized the Mineral Bearing Land Tax as a Statutory Charge. The company recognized ₹274.16 crore as unbilled debtors related to differential Energy Charges recoverable for the period April 2025 to December 2025.
- Land Availability: The company noted ongoing challenges regarding the availability of land at Neyveli for lignite mining but is confident of overcoming these through sustained efforts, including contingency mining.
- Asset Transfer: Pursuant to a Business Transfer Agreement executed on October 31, 2025, Renewable Energy Assets (1430 MW) were transferred to NLC India Renewables Limited, effective January 1, 2026.
- Labour Codes: The Government of India notified four new Labour Codes effective November 21, 2025, consolidating 29 existing laws. The financial impact is currently under review.
Statutory Compliance Certificates
The report is supported by the following auditor certifications issued on February 10, 2026:
- Limited Review Report: The auditors provided an unmodified conclusion on the Unaudited Standalone and Consolidated Financial Results.
- Secured Debt Covenants: The certificate confirmed that NLCIL complied with all covenants for its secured NCDs, aggregated at ₹2,106.83 Crore as of December 31, 2025.
- Unsecured Debt Covenants: Compliance was confirmed for outstanding unsecured NCDs, aggregated at ₹1,739.03 Crore.
Source: BSE
