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Last Updated: April 2, 2026, 3:25 am
Author: Getaka|Social: XLinkedIn

NLC India Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹253.74Overvalued by 10.34%vs CMP ₹283.00

P/E (15.0) × ROE (14.5%) × BV (₹144.00) × DY (1.27%)

Defaults: P/E=15

₹234.74Overvalued by 17.05%vs CMP ₹283.00
MoS: -20.6% (Negative)Confidence: 57/100 (Moderate)Models: 2 Fair, 6 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹302.0422%Fair (+6.7%)
Graham NumberEarnings₹247.0020%Over (-12.7%)
DCFCash Flow₹294.1413%Fair (+3.9%)
Net Asset ValueAssets₹143.899%Over (-49.2%)
EV/EBITDAEnterprise₹206.6811%Over (-27%)
Earnings YieldEarnings₹188.309%Over (-33.5%)
ROCE CapitalReturns₹215.399%Over (-23.9%)
Revenue MultipleRevenue₹110.427%Over (-61%)
Consensus (8 models)₹234.74100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 19.0% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

60
NLC India Ltd scores 60/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health51/100 · Moderate
ROCE 10.5% AverageROE 14.5% GoodD/E 1.79 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money50/100 · Moderate
FII holding up 0.31% (6mo) Slight increaseDII holding down 0.92% MF sellingPromoter holding at 72.2% Stable
Earnings Quality50/100 · Moderate
OPM contracting (35% → 29%) DecliningWorking capital: -70 days (improving) Efficient
Quarterly Momentum78/100 · Strong
Revenue (4Q): +9% YoY GrowingProfit (4Q): +17% YoY PositiveOPM: 30.0% (up 7.0% YoY) Margin expansion
Industry Rank75/100 · Strong
P/E 15.0 vs industry 41.9 Cheaper than peersROCE 10.5% vs industry 9.0% AverageROE 14.5% vs industry 11.7% Above peers3Y sales CAGR: 8% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:25 am

Market Cap 39,270 Cr.
Current Price 283
Intrinsic Value₹234.74
High / Low 292/202
Stock P/E15.0
Book Value 144
Dividend Yield1.27 %
ROCE10.5 %
ROE14.5 %
Face Value 10.0
PEG Ratio0.79

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for NLC India Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NLC India Ltd 39,270 Cr. 283 292/20215.0 1441.27 %10.5 %14.5 % 10.0
SJVN Ltd 26,432 Cr. 67.3 108/63.041.8 37.12.17 %4.91 %5.81 % 10.0
CESC Ltd 20,297 Cr. 153 185/13713.8 95.93.92 %11.2 %11.3 % 1.00
Jaiprakash Power Ventures Ltd 10,239 Cr. 14.9 27.7/12.516.5 18.60.00 %10.3 %6.85 % 10.0
Reliance Power Ltd 9,243 Cr. 22.4 76.5/20.232.7 39.90.00 %6.15 %1.08 % 10.0
Industry Average60,447.10 Cr156.8041.9494.050.95%8.95%11.73%7.77

All Competitor Stocks of NLC India Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,6795,1343,3162,9783,1643,5413,3763,6574,4113,8363,8264,1784,443
Expenses 3,9573,8982,1232,1432,2603,2082,2942,6443,3772,9752,8912,7793,099
Operating Profit -2781,2361,1948359053331,0821,0131,0358619351,4001,344
OPM % -8%24%36%28%29%9%32%28%23%22%24%34%30%
Other Income 3007131121,535149494362713489957497359364
Interest 232221231214205199189180237325299289269
Depreciation 460472461455446462433413458581539548597
Profit before tax -6701,2566141,7014021658221,133830912594921843
Tax % -41%33%33%36%37%31%31%13%16%49%-41%21%14%
Net Profit -3968374141,086254114567982696468839725724
EPS in Rs -2.935.982.927.821.810.824.036.584.823.485.754.804.80

Last Updated: March 3, 2026, 4:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 5:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5,9456,0757,82811,09411,2899,87110,3259,93612,07016,16513,00115,32216,283
Expenses 4,0134,5355,3345,9987,4017,6147,0397,3208,11910,4259,56410,57511,743
Operating Profit 1,9321,5402,4945,0973,8872,2573,2862,6163,9515,7403,4384,7474,540
OPM % 32%25%32%46%34%23%32%26%33%36%26%31%28%
Other Income 9761,434-412-1,1767132,1251,5682,5311,544-8722,1181,7662,176
Interest 1821504675885487001,1741,3139841,0128499321,183
Depreciation 5174419101,0441,2321,1211,3341,6111,9091,8011,8251,8842,264
Profit before tax 2,2092,3837052,2892,8212,5612,3452,2232,6032,0562,8823,6973,270
Tax % 32%34%90%-7%31%40%38%41%57%31%35%27%
Net Profit 1,5021,580682,4571,9571,5371,4531,3141,1161,4261,8682,7142,756
EPS in Rs 8.959.420.5116.0112.7110.8710.399.247.8810.0713.3718.9018.83
Dividend Payout % 31%30%588%46%35%42%68%27%19%35%22%16%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)5.19%-95.70%3513.24%-20.35%-21.46%-5.47%-9.57%-15.07%27.78%31.00%45.29%
Change in YoY Net Profit Growth (%)0.00%-100.89%3608.93%-3533.59%-1.11%16.00%-4.10%-5.50%42.85%3.22%14.29%

NLC India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:10%
5 Years:8%
3 Years:8%
TTM:20%
Compounded Profit Growth
10 Years:7%
5 Years:13%
3 Years:51%
TTM:42%
Stock Price CAGR
10 Years:12%
5 Years:35%
3 Years:41%
1 Year:-18%
Return on Equity
10 Years:12%
5 Years:10%
3 Years:12%
Last Year:15%

Last Updated: September 5, 2025, 11:45 am

Balance Sheet

Last Updated: December 4, 2025, 1:43 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 1,6781,6781,6781,5291,5291,3871,3871,3871,3871,3871,3871,3871,387
Reserves 12,22513,19811,10410,59811,82311,38311,51812,09812,80313,78215,14417,33618,579
Borrowings 6,5876,6018,42311,47913,21520,59827,23027,23422,08622,33322,41522,42924,368
Other Liabilities 4,2264,2798,4889,88811,88011,91712,49312,59413,54215,60516,04316,75216,609
Total Liabilities 24,71625,75629,69333,49338,44845,28552,62853,31349,81853,10754,98957,90460,943
Fixed Assets 6,5486,65516,32715,99716,76517,65824,10925,82424,87524,05823,39130,69930,411
CWIP 9,37210,9852,5425,2198,39713,85612,66211,59713,02214,63617,72615,29717,865
Investments 20610313131313141478888
Other Assets 8,5908,01410,81212,26513,27313,75915,84415,87911,91414,40513,86411,89912,659
Total Assets 24,71625,75629,69333,49338,44845,28552,62853,31349,81853,10754,98957,90460,943

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,7371,0361,3011,2254,5331,6201,6474,3907,7464,1715,5128,977
Cash from Investing Activity + -1,393-502-1,380-4,332-4,593-6,119-5,812-2,212-763-2,499-3,059-7,160
Cash from Financing Activity + -946-1,23163-68984,4164,163-2,037-7,001-1,735-1,985-2,196
Net Cash Flow 1,398-696-16-3,17439-83-2140-18-62468-379
Free Cash Flow 1,730-196-390-2,998-104-4,627-4,2462,0686,8321,6182,3571,709
CFO/OP 219%117%73%34%131%94%65%180%218%75%178%202%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-5.00-5.00-6.00-6.00-10.00-18.00-24.00-25.00-19.00-17.00-19.00-18.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 1351371741581472293012761129610675
Inventory Days
Days Payable
Cash Conversion Cycle 1351371741581472293012761129610675
Working Capital Days 468210410370-36-15-10315619-70
ROCE %12%10%10%21%13%11%9%8%8%13%7%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 79.20%79.20%79.20%79.20%72.20%72.20%72.20%72.20%72.20%72.20%72.20%72.20%
FIIs 0.67%0.81%0.95%1.21%2.39%2.18%2.53%2.86%2.91%2.95%3.25%3.22%
DIIs 6.89%8.02%9.18%8.85%13.38%13.82%14.29%14.46%14.63%14.25%13.86%13.71%
Government 4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%
Public 8.94%7.66%6.37%6.44%7.73%7.48%6.65%6.17%5.96%6.29%6.40%6.56%
No. of Shareholders 1,82,4501,68,9391,69,6001,90,1642,58,4982,86,7013,43,4113,48,1653,40,0213,37,5063,18,1003,06,494

Shareholding Pattern Chart

No. of Shareholders

NLC India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Nippon India Small Cap Fund 26,990,331 1.06 699.3216,251,7512025-12-08 07:42:1366.08%
Kotak Multicap Fund 17,690,603 2.02 458.3616,489,8702026-02-23 01:32:307.28%
Nippon India Growth Mid Cap Fund 16,096,145 1 417.05N/AN/AN/A
Kotak Multi Asset Allocation Fund 8,125,284 1.74 210.536,826,8682026-02-23 07:52:2819.02%
Nippon India ELSS Tax Saver Fund 7,444,108 1.3 192.885,363,0742025-12-08 00:51:5838.8%
Nippon India Multi Cap Fund 7,043,764 0.37 182.5N/AN/AN/A
Nippon India Power & Infra Fund 5,831,878 2.23 151.15,000,0002025-12-08 08:04:4016.64%
Kotak Equity Savings Fund 4,377,601 1.18 113.42N/AN/AN/A
ICICI Prudential Energy Opportunities Fund 2,666,854 0.7 69.13,825,0612026-02-23 07:52:28-30.28%
Kotak Special Opportunities Fund 2,536,738 4.62 65.73N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 19.5713.4710.288.059.70
Diluted EPS (Rs.) 19.5713.4710.288.059.70
Cash EPS (Rs.) 33.1626.6323.2621.8121.13
Book Value[Excl.RevalReserv]/Share (Rs.) 135.02139.66127.11118.09115.37
Book Value[Incl.RevalReserv]/Share (Rs.) 135.02139.66127.11118.09115.37
Revenue From Operations / Share (Rs.) 110.2293.74116.5886.1671.01
PBDIT / Share (Rs.) 46.4932.3350.9134.3334.32
PBIT / Share (Rs.) 32.9019.1737.9220.5722.90
PBT / Share (Rs.) 26.6620.7814.8218.7716.26
Net Profit / Share (Rs.) 19.5713.4710.288.049.70
NP After MI And SOA / Share (Rs.) 18.9013.3710.077.889.47
PBDIT Margin (%) 42.1834.4843.6739.8448.33
PBIT Margin (%) 29.8520.4432.5323.8732.24
PBT Margin (%) 24.1822.1612.7121.7822.89
Net Profit Margin (%) 17.7514.368.819.3313.66
NP After MI And SOA Margin (%) 17.1514.268.639.1413.33
Return on Networth / Equity (%) 14.0011.219.207.709.31
Return on Capital Employeed (%) 9.926.0412.566.988.09
Return On Assets (%) 4.533.372.622.192.43
Long Term Debt / Equity (X) 0.981.161.221.331.34
Total Debt / Equity (X) 1.201.351.471.551.79
Asset Turnover Ratio (%) 0.270.240.310.220.15
Current Ratio (X) 0.711.011.031.191.01
Quick Ratio (X) 0.550.870.921.060.89
Inventory Turnover Ratio (X) 9.000.000.000.000.00
Dividend Payout Ratio (NP) (%) 15.8626.1729.8041.8211.10
Dividend Payout Ratio (CP) (%) 9.2313.1913.0115.225.03
Earning Retention Ratio (%) 84.1473.8370.2058.1888.90
Cash Earning Retention Ratio (%) 90.7786.8186.9984.7894.97
Interest Coverage Ratio (X) 6.925.286.984.843.63
Interest Coverage Ratio (Post Tax) (X) 3.841.944.571.391.73
Enterprise Value (Cr.) 59218.3156091.3635214.5632147.8933325.49
EV / Net Operating Revenue (X) 3.874.322.182.693.38
EV / EBITDA (X) 9.1912.514.996.757.00
MarketCap / Net Operating Revenue (X) 2.222.430.660.720.71
Retention Ratios (%) 84.1373.8270.1958.1788.89
Price / BV (X) 1.811.910.700.610.49
Price / Net Operating Revenue (X) 2.222.430.660.720.71
EarningsYield 0.070.050.130.120.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

NLC India Ltd. is a Public Limited Listed company incorporated on 14/11/1956 and has its registered office in the State of Tamil Nadu, India. Company's Corporate Identification Number(CIN) is L93090TN1956GOI003507 and registration number is 003507. Currently Company is involved in the business activities of Electric power generation by coal based thermal power plants. Company's Total Operating Revenue is Rs. 10285.78 Cr. and Equity Capital is Rs. 1386.64 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionNo. 135, EVR Periyar High Road, Kilpauk, Chennai (Madras) Tamil Nadu 600010Contact not found
Management
NamePosition Held
Mr. Prasanna Kumar MotupalliChairman & Managing Director
Dr. Prasanna Kumar AcharyaDirector - Finance & CFO
Mr. Samir SwarupDirector - Human Resources
Mr. M VenkatachalamDirector - Power
Mr. Suresh Chandra SumanDirector
Dr. Beela RajeshPart Time Official (Nominee) Director
Mr. M T RameshIndependent Director
Dr. Vasant Ashok PatilIndependent Director
Mr. Pradeep Kumar SaraogiIndependent Director
Mr. Sanoj Kumar JhaPart Time Official (Nominee) Director

FAQ

What is the intrinsic value of NLC India Ltd and is it undervalued?

As of 14 April 2026, NLC India Ltd's intrinsic value is ₹234.74, which is 17.05% lower than the current market price of ₹283.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (14.5 %), book value (₹144), dividend yield (1.27 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of NLC India Ltd?

NLC India Ltd is trading at ₹283.00 as of 14 April 2026, with a FY2026-2027 high of ₹292 and low of ₹202. The stock is currently near its 52-week high. Market cap stands at ₹39,270 Cr..

How does NLC India Ltd's P/E ratio compare to its industry?

NLC India Ltd has a P/E ratio of 15.0, which is below the industry average of 41.94. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is NLC India Ltd financially healthy?

Key indicators for NLC India Ltd: ROCE of 10.5 % is moderate. Dividend yield is 1.27 %.

Is NLC India Ltd profitable and how is the profit trend?

NLC India Ltd reported a net profit of ₹2,714 Cr in Mar 2025 on revenue of ₹15,322 Cr. Compared to ₹1,116 Cr in Mar 2022, the net profit shows an improving trend.

Does NLC India Ltd pay dividends?

NLC India Ltd has a dividend yield of 1.27 % at the current price of ₹283.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in NLC India Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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