Thursday turned into a big day for NLC India Ltd. Shares of the state-owned lignite miner and power producer hit a fresh all-time high of Rs 387.70 on the BSE on 14 May, surging as much as 18.97% from the previous close of Rs 325.55. The rally followed strong March-quarter earnings that saw net profit nearly triple year-on-year.

Net profit for Q4 FY26 stood at Rs 1,393.46 crore, up 189% from Rs 481.96 crore in the same period last year. Revenue from operations rose 31.4% to Rs 5,042.46 crore, against Rs 3,836 crore a year ago.

The full-year numbers were just as strong. For FY26, NLC India’s group profit after tax hit Rs 3,769 crore, up 38.91% from Rs 2,714 crore and its highest-ever annual consolidated profit. Group revenue climbed 14.44% to Rs 17,490 crore, while EBITDA grew 14.78% to Rs 7,475 crore.

On the dividend front, the board had already paid an interim dividend of Rs 3.60 per share during the year. It has now proposed an additional final dividend of Rs 0.25 per share for FY26, subject to shareholder and CAG approval.

There was plenty of operational news too. Coal production from the Talabira mines reached 19.14 million tonnes in FY26, the highest ever, up 11.28% from the previous year. 

A new mine at Pachwara South, with a capacity of nine million tonnes per year, started production in March 2026.

The company’s renewable energy arm, NLC India Renewables Ltd (NIRL), received a Letter of Award from SECI to build 600 MW of solar capacity paired with a 300 MW battery storage system. The government has also approved listing NIRL through a public offering and cleared a joint venture with NCRTC to set up 100 MW of renewable projects in Uttar Pradesh.

In FY26, NLC India generated 2.26 billion units of renewable power and added 1,013 MW of new capacity across thermal and renewable sources.

During morning trade, shares were at Rs 384.65 on the BSE, up 18.15% on the day. The stock’s 52-week low is Rs 220.25.

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