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NLCINDIA - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.4

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 3.4

Stock Code NLCINDIA Market Cap 36,267 Cr. Current Price 262 ₹ High / Low 292 ₹
Stock P/E 18.7 Book Value 131 ₹ Dividend Yield 1.37 % ROCE 9.02 %
ROE 5.61 % Face Value 10.0 ₹ DMA 50 256 ₹ DMA 200 251 ₹
Chg in FII Hold -0.03 % Chg in DII Hold -0.15 % PAT Qtr 428 Cr. PAT Prev Qtr 485 Cr.
RSI 54.0 MACD 0.39 Volume 14,02,300 Avg Vol 1Wk 48,03,236
Low price 202 ₹ High price 292 ₹ PEG Ratio 60.4 Debt to equity 0.47
52w Index 65.9 % Qtr Profit Var 4.78 % EPS 14.0 ₹ Industry PE 30.0

📊 Financials

  • Revenue & Profitability: PAT declined from ₹485 Cr. to ₹428 Cr. (-4.78%), showing earnings pressure. EPS at ₹14.0 is modest.
  • Margins & Returns: ROCE (9.02%) and ROE (5.61%) are weak, reflecting limited efficiency and profitability.
  • Debt: Debt-to-equity ratio of 0.47 indicates moderate leverage.
  • Cash Flow: Stable due to government backing, but profitability remains inconsistent.

💹 Valuation

  • P/E Ratio: 18.7 vs Industry PE of 30.0 → Undervalued compared to peers.
  • P/B Ratio: ~2.0 (Price ₹262 / Book Value ₹131) → Reasonable valuation.
  • PEG Ratio: 60.4 → Extremely high, indicating poor growth prospects relative to valuation.
  • Intrinsic Value: Current price appears fairly valued, with limited upside.

🏢 Business Model & Competitive Advantage

  • NLC India operates in lignite mining and power generation, benefiting from government contracts and energy demand.
  • Competitive advantage lies in scale, regulatory support, and long-term projects.
  • Dividend yield of 1.37% provides modest shareholder returns.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive near ₹230–245 range (below current levels, closer to DMA 200 at ₹251).
  • Long-Term Holding: Suitable for conservative investors seeking exposure to power generation. Accumulation should be cautious due to weak return ratios.


✅ Positive

  • Undervalued compared to industry peers (P/E 18.7 vs 30.0).
  • Dividend yield of 1.37% supports investor confidence.
  • Government backing ensures operational stability.

⚠️ Limitation

  • Weak ROCE (9.02%) and ROE (5.61%) compared to peers.
  • Extremely high PEG ratio (60.4) highlights poor growth prospects.
  • Quarterly profit decline (-4.78%) signals near-term weakness.

📉 Company Negative News

  • PAT dropped compared to previous quarter.
  • FII holdings reduced (-0.03%) and DII holdings reduced (-0.15%), showing cautious sentiment.

📈 Company Positive News

  • Dividend yield remains attractive at 1.37%.
  • Stock trading above DMA 50 (₹256) shows technical support.

🏭 Industry

  • Power generation industry benefits from rising energy demand and government initiatives.
  • Industry PE at 30.0 suggests peers trade at higher valuations, making NLC India undervalued.

🔎 Conclusion

  • NLC India offers stability with government backing and modest dividend yield.
  • However, weak return ratios, high PEG, and profit decline limit upside potential.
  • Best strategy: Accumulate near ₹230–245 range for long-term holding, while avoiding aggressive buying at current levels.

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