National Aluminium Company Limited (NALCO), established on January 7, 1981, is a ‘Navratna’ CPSE with its registered office in Bhubaneswar. The Indian government owns 51.28% of NALCO’s equity. NALCO operates the Panchpatmali Bauxite Mines, an alumina refinery at Damanjodi, and an aluminium smelter with a captive power plant at Angul, Odisha. Its production capacity includes a 68.25 lakh TPA bauxite mine and a 21 lakh TPA alumina refinery.
NALCO has regional sales offices and stockyards across India and a bulk shipment facility for exports. The company focuses on sustainability with 198 MW wind power plants and 850 kWp rooftop solar power plants. Profitable for 37 years, NALCO reported a net profit of ₹2,060 crore in FY 2023-24, a 33% increase year-on-year. The company achieved record bauxite excavation and cast metal production. Registered with the London Metal Exchange since 1989, NALCO is listed on the BSE and NSE, and holds multiple ISO certifications, including ISO 9001, ISO 14001, and ISO 45001.
Mission of NALCO Ltd
NALCO’s mission is to sustainably grow multi-fold in the mining, alumina, and aluminium business. The company aims to diversify selectively into the minerals, metals, and energy sectors while continuously improving efficiency and business practices. This approach is designed to enhance value for all stakeholders, ensuring long-term growth and success. Through innovation, operational excellence, and a commitment to sustainability, NALCO strives to maintain its leadership position and contribute positively to the industry and the economy.
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | |
| Promoters + | 51.28% | 51.28% | 51.28% | 51.28% | 51.28% |
| FIIs + | 14.95% | 13.68% | 11.56% | 8.99% | 10.43% |
| DIIs + | 15.38% | 17.47% | 18.80% | 18.82% | 19.12% |
| Public + | 18.40% | 17.57% | 18.38% | 20.93% | 19.16% |
| No. of Shareholders | 6,44,039 | 6,36,856 | 6,92,122 | 8,76,645 | 9,12,729 |
The shareholding patterns of National Aluminium Company Limited (NALCO) exhibit notable trends and changes over the period from June 2023 to June 2024. Throughout this period, the promoters maintained a stable shareholding of 51.28%, reflecting consistent confidence and control over the company.
Foreign Institutional Investors (FIIs) showed a declining trend, starting from 14.95% in June 2023 and decreasing to 10.43% by June 2024. This significant reduction indicates a potential shift in investment strategies or market sentiment among foreign investors.
In contrast, Domestic Institutional Investors (DIIs) increased their holdings over the same period, growing from 15.38% in June 2023 to 19.12% by June 2024. This rise suggests a growing confidence among domestic institutions in NALCO’s prospects.
The public shareholding fluctuated, starting at 18.40% in June 2023, dropping to 17.57% in September 2023, then increasing to 20.93% by March 2024, before settling at 19.16% in June 2024. This variability indicates active trading and shifts in public investment behavior.
Additionally, the number of shareholders saw a significant increase from 6,44,039 in June 2023 to 9,12,729 by June 2024. This growth highlights a rising interest in NALCO shares among investors, contributing to broader market participation.
Below are the trading platforms that you can use to purchase NALCO shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| August 2024 | 205.85 | 179.00 |
| September 2024 | 214.09 | 186.16 |
| October 2024 | 209.89 | 182.51 |
| November 2024 | 218.29 | 189.81 |
| December 2024 | 220.47 | 191.71 |
In 2024, the projected prices for NALCO shares indicate a range of fluctuations throughout the year. In August 2024, the maximum price is expected to be ₹205.85, while the minimum price is anticipated to be ₹179.00. Moving forward to December 2024, the maximum price for NALCO shares is projected to be ₹220.47, with a minimum price of ₹191.71.
| When | Maximum Price | Minimum Price |
| January 2025 | 222.67 | 171.29 |
| February 2025 | 224.92 | 173.02 |
| March 2025 | 229.65 | 176.65 |
| April 2025 | 227.37 | 174.90 |
| May 2025 | 220.75 | 169.81 |
| June 2025 | 230.68 | 177.45 |
| July 2025 | 226.16 | 173.97 |
| August 2025 | 233.16 | 179.35 |
| September 2025 | 235.95 | 181.50 |
| October 2025 | 242.09 | 186.22 |
| November 2025 | 248.14 | 190.88 |
| December 2025 | 259.31 | 199.47 |
NALCO shares are projected to show an overall upward trend. The prices are expected to start in January with a maximum of ₹222.67 and a minimum of ₹171.29. By August, the maximum price is anticipated to reach ₹233.16, while the minimum is projected to be ₹179.35. The year is expected to close in December with the highest price of ₹259.31 and a lowest of ₹199.47, indicating a positive trajectory for NALCO shares throughout 2025.
| When | Maximum Price | Minimum Price |
| January 2026 | 267.09 | 205.45 |
| February 2026 | 260.41 | 200.31 |
| March 2026 | 265.62 | 204.32 |
| April 2026 | 271.04 | 208.49 |
| May 2026 | 268.35 | 206.43 |
| June 2026 | 275.06 | 211.59 |
| July 2026 | 269.67 | 207.44 |
| August 2026 | 278.01 | 213.85 |
| September 2026 | 283.57 | 218.13 |
| October 2026 | 290.94 | 223.80 |
| November 2026 | 298.22 | 229.40 |
| December 2026 | 305.67 | 235.13 |
| When | Maximum Price | Minimum Price |
| January 2027 | 308.73 | 237.48 |
| February 2027 | 316.64 | 243.57 |
| March 2027 | 328.99 | 253.07 |
| April 2027 | 322.54 | 248.11 |
| May 2027 | 313.15 | 240.88 |
| June 2027 | 327.24 | 251.72 |
| July 2027 | 320.82 | 246.79 |
| August 2027 | 330.75 | 254.42 |
| September 2027 | 342.32 | 263.32 |
| October 2027 | 351.22 | 270.17 |
| November 2027 | 360.00 | 276.93 |
| December 2027 | 369.00 | 283.85 |
| When | Maximum Price | Minimum Price |
| January 2028 | 376.38 | 289.53 |
| February 2028 | 386.03 | 296.95 |
| March 2028 | 401.09 | 308.53 |
| April 2028 | 393.22 | 302.48 |
| May 2028 | 381.77 | 293.67 |
| June 2028 | 398.95 | 306.89 |
| July 2028 | 391.13 | 300.87 |
| August 2028 | 403.23 | 310.17 |
| September 2028 | 417.34 | 321.03 |
| October 2028 | 428.19 | 329.38 |
| November 2028 | 438.89 | 337.61 |
| December 2028 | 449.87 | 346.05 |
| When | Maximum Price | Minimum Price |
| January 2029 | 458.86 | 352.97 |
| February 2029 | 470.63 | 362.02 |
| March 2029 | 488.98 | 376.14 |
| April 2029 | 479.40 | 368.77 |
| May 2029 | 465.43 | 358.02 |
| June 2029 | 486.38 | 374.14 |
| July 2029 | 476.84 | 366.80 |
| August 2029 | 491.59 | 378.14 |
| September 2029 | 508.79 | 391.38 |
| October 2029 | 522.02 | 401.56 |
| November 2029 | 535.07 | 411.59 |
| December 2029 | 548.45 | 421.88 |
| When | Maximum Price | Minimum Price |
| January 2030 | 559.42 | 430.32 |
| February 2030 | 573.76 | 441.36 |
| March 2030 | 596.14 | 458.57 |
| April 2030 | 584.45 | 449.58 |
| May 2030 | 567.43 | 436.48 |
| June 2030 | 592.96 | 456.12 |
| July 2030 | 581.33 | 447.18 |
| August 2030 | 599.31 | 461.01 |
| September 2030 | 620.29 | 477.15 |
| October 2030 | 636.42 | 489.55 |
| November 2030 | 652.33 | 501.79 |
| December 2030 | 668.64 | 514.34 |
In 2030, NALCO shares are projected to show significant growth. The prices are expected to start in January with a maximum of ₹559.42 and a minimum of ₹430.32. By August, the maximum price is anticipated to reach ₹599.31, while the minimum is projected to be ₹461.01. The year is expected to close in December with the highest price of ₹668.64 and the lowest of ₹514.34
Financial Condition of NALCO Ltd: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 8,472 | 8,956 | 14,215 | 14,255 | 13,149 |
| Expenses + | 7,983 | 7,174 | 9,664 | 11,807 | 10,276 |
| Operating Profit | 489 | 1,782 | 4,550 | 2,448 | 2,873 |
| OPM % | 6% | 20% | 32% | 17% | 22% |
| Other Income + | 273 | 147 | 264 | 236 | 678 |
| Interest | 6 | 7 | 23 | 13 | 17 |
| Depreciation | 530 | 606 | 837 | 716 | 750 |
| Profit before tax | 226 | 1,317 | 3,955 | 1,955 | 2,784 |
| Tax % | 39% | 1% | 25% | 21% | 26% |
| Net Profit + | 138 | 1,300 | 2,952 | 1,544 | 2,060 |
| EPS in Rs | 0.74 | 7.08 | 16.07 | 8.41 | 11.22 |
| Dividend Payout % | 202% | 49% | 40% | 54% | 58% |
Sales showed an upward trend initially, rising from Rs 8,472 crore in March 2020 to a peak of Rs 14,255 crore in March 2023, before declining to Rs 13,149 crore in March 2024. Expenses followed a similar pattern, increasing from Rs 7,983 crore in March 2020 to Rs 11,807 crore in March 2023, then decreasing to Rs 10,276 crore in March 2024. Operating profit saw substantial growth, particularly in March 2022, reaching Rs 4,550 crore, but it dropped to Rs 2,448 crore in March 2023 and recovered slightly to Rs 2,873 crore in March 2024. The Operating Profit Margin (OPM) percentage improved from 6% in March 2020 to a peak of 32% in March 2022, then stabilized around 22% in March 2024.
Other income varied, peaking at Rs 678 crore in March 2024, while interest expenses and depreciation remained relatively stable, with minor fluctuations. Profit before tax saw remarkable growth, jumping from Rs 226 crore in March 2020 to Rs 3,955 crore in March 2022, before adjusting to Rs 2,784 crore in March 2024. Net profit followed a similar trajectory, rising sharply to Rs 2,952 crore in March 2022, then decreasing to Rs 1,544 crore in March 2023 and recovering to Rs 2,060 crore in March 2024. The Earnings Per Share (EPS) mirrored this pattern, increasing from Rs 0.74 in March 2020 to Rs 16.07 in March 2022, and settling at Rs 11.22 in March 2024.
Dividend payout percentages fluctuated, reaching a high of 202% in March 2020 and stabilizing around 58% in March 2024, reflecting NALCO’s commitment to returning value to its shareholders despite varying profit levels. Overall, NALCO demonstrated resilience and adaptability in its financial performance amidst market dynamics.
FAQs
What is NALCO current market capitalization?
NALCO current market capitalization stands at ₹35,328 crore.
As of July 29th, 2024, NALCO current share price is ₹192.
NALCO share price target for 2025 ranges from a minimum of ₹169.81 to a maximum of ₹259.31.
The share price target for NALCO in 2030 is projected to range between ₹430.32 and ₹668.64.
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Conclusion
In conclusion, National Aluminium Company Limited (NALCO) has demonstrated impressive financial performance and resilience over the past five years. Sales peaked at ₹14,255 crore in March 2023, and despite a slight decline, remained strong at ₹13,149 crore in March 2024. Operating profit margins also saw significant growth, reaching 32% in March 2022. Net profit showed consistent growth, achieving ₹2,952 crore in March 2022 and ₹2,060 crore in March 2024. NALCO’s strategic investments in sustainable energy, such as its 198 MW wind power plants and 850 kWp rooftop solar power plants, highlight its commitment to sustainability. The company’s focus on shareholder value is evident in the increase of EPS from ₹0.74 in March 2020 to ₹11.22 in March 2024, and a stable dividend payout of 58% in March 2024. NALCO is well-positioned to continue its trajectory of success, with projected share price targets ranging from ₹430.32 to ₹668.64 by 2030, reflecting its strong market presence and operational capabilities.
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