NLC India board okays listing of green arm NIRL, declares interim dividend

NLC India Limited said on Monday, January 12, its board of directors has given an in-principle approval for the listing of NLC India Renewables Limited (NIRL), a wholly-owned subsidiary of the company, through the dilution of equity stake up to 25% in one or more tranches via a public offer, subject to requisite approvals from the authorities.

Also Read: IPO of renewable unit likely in FY27 as NLC India pushes capacity beyond 10 GW target

The in-principle approval will be communicated to the Ministry

of Coal for onward submission to the Department of Investment and Public Asset Management (DIPAM).

The board also declared an interim dividend of 36%, amounting to ₹3.60 per equity share of face value ₹10 each, for the financial year 2025-26. January 16 has been fixed as the record date for determining members entitled to receive the interim dividend, which will be paid to eligible shareholders as per statutory timelines.

Further, the board granted in-principle approval to invest up to ₹66.6 crore in NIRL, in one or more tranches, by way of subscription to equity shares at face value. The proposed investment, subject to necessary statutory approvals, is intended to fund green energy projects to be executed through joint venture companies.

NLC India Ltd had reported a 27.1% year-on-year decline in consolidated net profit for the quarter ended September 2025 at ₹665 crore, compared with ₹912 crore in the corresponding quarter last year.

Its revenue from operations rose 14% to ₹4,178.4 crore from ₹3,657.3 crore a year ago, supported by higher output and improved realisations for the Chennai-based lignite coal miner.

Operating performance was stronger, with earnings before interest, tax, depreciation, and amortisation (EBITDA) up 30.5% year-on-year to ₹1,400 crore from ₹1,073 crore.

Shares of NLC India Ltd closed at ₹257, up ₹4.60 or 1.82%, today, January 12.