National Aluminium Company Ltd

₹ 248 3.25%

21 Nov 4:00 p.m.

nalcoindia.com BSE: 532234 NSE: NATIONALUM

About

Incorporated in 1981, National Aluminium Company Limited (NALCO) manufactures and sells Alumina and Aluminium^[1]

Key Points

Business Overview
The company is a Navaratna Central Public Sector Enterprise under the Ministry of Mines. It is one of the largest integrated Bauxite-Alumina-Aluminium-Power Complex in India and one of the largest integrated primary producers of aluminum in Asia. ^[1]

Website BSE NSE

Market Cap ₹ 45,569 Cr.
Current Price ₹ 248
High / Low ₹ 254 / 90.1
Stock P/E 16.0
Book Value ₹ 86.3
Dividend Yield 2.01 %
ROCE 17.0 %
ROE 12.6 %
Face Value ₹ 5.00

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Pros

Company is almost debt free.
Company has been maintaining a healthy dividend payout of 46.2%

Cons

The company has delivered a poor sales growth of 2.72% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Non Ferrous Metals Industry: Aluminium and Aluminium Products

Part of BSE 250 SmallCap Index Nifty Smallcap 50 Nifty Smallcap 250 Nifty Smallcap 100 Nifty Metal Nifty Dividend Opportunities 50 BSE CPSE BSE Allcap BSE Commodities BSE SmallCap Select Index BSE Bharat 22 Index BSE Metal BSE SmallCap BSE PSU Nifty 500 Nifty MidSmallcap 400 Nifty Total Market BSE 500 Nifty500 Multicap India Manufacturing 50:30:20 Nifty 500 Multicap 50:25:25 BSE 400 MidSmallCap Index

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	3,592	3,773	4,351	3,795	3,490	3,297	3,671	3,179	3,043	3,348	3,579	2,856	4,001
	2,465	2,583	2,724	2,916	3,155	2,832	2,904	2,584	2,647	2,574	2,472	1,922	2,452
Operating Profit	1,127	1,191	1,627	880	334	466	767	595	397	774	1,108	934	1,549
OPM %	31%	32%	37%	23%	10%	14%	21%	19%	13%	23%	31%	33%	39%
	42	72	142	52	69	61	55	48	69	50	511	61	72
Interest	2	2	16	4	4	4	1	2	4	2	9	3	4
Depreciation	152	151	384	150	154	157	255	170	186	154	240	174	180
Profit before tax	1,016	1,109	1,368	778	246	365	566	471	275	668	1,369	817	1,437
Tax %	26%	25%	25%	26%	31%	25%	8%	26%	25%	27%	26%	26%	26%
	748	831	1,026	579	170	274	522	349	206	488	1,016	601	1,062
EPS in Rs	4.07	4.52	5.58	3.15	0.93	1.49	2.84	1.90	1.12	2.66	5.53	3.27	5.78
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	6,916	6,781	7,383	6,818	7,543	9,509	11,499	8,472	8,956	14,215	14,257	13,149	13,784
	5,841	5,644	5,759	5,911	6,463	8,112	8,607	7,983	7,174	9,664	11,807	10,276	9,420
Operating Profit	1,075	1,137	1,624	907	1,080	1,397	2,893	489	1,782	4,550	2,450	2,873	4,365
OPM %	16%	17%	22%	13%	14%	15%	25%	6%	20%	32%	17%	22%	32%
	511	508	1,070	711	368	1,124	326	273	147	264	234	678	693
Interest	176	203	167	3	3	2	2	6	7	23	13	17	19
Depreciation	505	525	414	426	480	480	476	530	606	837	716	750	748
Profit before tax	905	918	2,113	1,189	965	2,039	2,740	226	1,317	3,955	1,955	2,784	4,291
Tax %	34%	30%	37%	34%	31%	34%	37%	39%	1%	25%	21%	26%
	593	642	1,322	787	669	1,342	1,732	138	1,300	2,952	1,544	2,060	3,168
EPS in Rs	2.30	2.49	5.13	3.05	3.46	6.94	9.29	0.74	7.08	16.07	8.41	11.22	17.24
Dividend Payout %	54%	60%	34%	65%	81%	82%	62%	202%	49%	40%	54%	45%

Compounded Sales Growth
10 Years:	7%
5 Years:	3%
3 Years:	14%
TTM:	5%

Compounded Profit Growth
10 Years:	11%
5 Years:	0%
3 Years:	10%
TTM:	111%

Stock Price CAGR
10 Years:	15%
5 Years:	43%
3 Years:	37%
1 Year:	172%

Return on Equity
10 Years:	11%
5 Years:	13%
3 Years:	16%
Last Year:	13%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	1,289	1,289	1,289	1,289	966	966	933	933	918	918	918	918	918
Reserves	10,644	10,834	11,509	11,906	9,239	9,538	9,552	9,055	9,762	11,636	12,320	13,653	14,938
	0	0	0	0	51	45	67	12	102	77	105	96	91
	4,400	4,426	3,380	3,515	4,245	4,064	4,596	4,549	3,928	4,857	4,396	4,751	4,791
Total Liabilities	16,333	16,549	16,178	16,710	14,502	14,614	15,147	14,550	14,711	17,489	17,739	19,419	20,738
	6,629	6,792	6,645	6,596	7,144	7,139	7,286	7,485	7,660	7,343	7,303	7,383	7,782
CWIP	1,002	769	550	688	566	915	883	1,427	1,575	2,235	3,269	4,573	4,232
Investments	1,490	1,245	951	1,010	1,261	711	257	332	562	377	471	525	794
	7,212	7,743	8,031	8,416	5,531	5,849	6,722	5,306	4,913	7,534	6,696	6,938	7,931
Total Assets	16,333	16,549	16,178	16,710	14,502	14,614	15,147	14,550	14,711	17,489	17,739	19,419	20,738

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	441	981	520	881	1,436	1,590	2,409	-349	2,199	4,050	908	2,719
	-877	78	566	314	1,550	-490	-532	873	-1,404	-2,736	-334	-2,000
	-229	-515	-506	-544	-3,616	-1,100	-1,731	-677	-601	-1,114	-924	-739
Net Cash Flow	-664	544	580	651	-630	1	146	-153	195	199	-350	-20

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	8	13	6	13	9	10	8	6	6	2	2	4
Inventory Days	457	382	411	352	389	288	231	463	411	324	213	252
Days Payable	168	173	155	213	284	232	245	211	262	287	146	206
Cash Conversion Cycle	296	222	262	151	114	66	-7	258	156	39	69	50
Working Capital Days	-54	-60	8	10	-22	-10	-26	-8	13	-15	5	7
ROCE %	9%	9%	16%	9%	9%	12%	26%	2%	13%	34%	15%	17%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%	51.28%
	13.30%	18.03%	16.71%	14.69%	15.05%	15.95%	14.95%	13.68%	11.56%	8.99%	10.43%	12.08%
	10.39%	8.76%	10.13%	12.58%	12.49%	13.30%	15.38%	17.47%	18.80%	18.82%	19.12%	19.29%
	25.03%	21.93%	21.88%	21.45%	21.17%	19.48%	18.40%	17.57%	18.38%	20.93%	19.16%	17.34%
No. of Shareholders	5,80,874	5,61,842	6,14,835	6,77,784	6,79,547	6,62,340	6,44,039	6,36,856	6,92,122	8,76,645	9,12,729	8,68,800

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	74.58%	60.20%	52.00%	51.50%	51.28%	51.28%	51.28%	51.28%	51.28%
	4.00%	6.41%	11.92%	11.30%	8.38%	18.03%	15.95%	8.99%	12.08%
	13.16%	21.21%	19.73%	14.20%	9.64%	8.76%	13.30%	18.82%	19.29%
	8.27%	12.17%	16.35%	23.00%	30.70%	21.93%	19.48%	20.93%	17.34%
No. of Shareholders	78,949	1,29,367	1,89,936	2,41,492	3,05,882	5,61,842	6,62,340	8,76,645	8,68,800

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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