Nalco shares extend gains, surge 8% after strong Q2 results

Shares of National Aluminium Company Ltd. (Nalco) surged nearly 8% on Monday, November 10, after the company reported a strong set of numbers for the September quarter of FY26. The stock also extended its gains for the second consecutive session.

The state-owned aluminium producer's net profit rose 36.7% year-on-year to ₹1,430 crore, compared to ₹1,046 crore in the same quarter last year. Revenue increased 31.5% to ₹4,292 crore from ₹4,001 crore a year ago.



EBITDA for the quarter stood at ₹1,932.9 crore, up 24.8% year-on-year, while margins improved to 45% from 38.7% in the corresponding period last year.

The company's board also approved an interim dividend of ₹4 per equity share, amounting to ₹734.65 crore for FY26.

On the outlook, Nalco's management said it expects London Metal Exchange (LME) aluminium prices to average around $2,670 per tonne in calendar year 2026.

The company added that its alumina refinery expansion project is progressing as planned, with capacity set to increase by 1 million tonnes per annum (MTPA) to a total of 3.1 MTPA, and is likely to be commissioned by June 2026.