Small Power

NLC India Ltd.

NLCINDIA

₹235.52

-0.66% (-1.56)

Market Cap

₹32,669 Cr.

P/E

17.19

NLC India Ltd.

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on NLC India Ltd. Shareprice

Has the share price of Neyveli Lignite grown faster than its competition?

Neyveli Lignite has given lower returns compared to its competitors.
Neyveli Lignite has grown at ~14.96% over the last 7yrs while peers have grown at a median rate of 19.36%

Is Neyveli Lignite stock expensive?

Yes, Neyveli Lignite is expensive.
Latest PE of Neyveli Lignite is 17.19, while 3 year average PE is 11.01.
Also latest EV/EBITDA of Neyveli Lignite is 13.38 while 3yr average is 10.13.

View FAQ's On Business

Growth Table

NLC India Ltd.
Reliance Power
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	8.81	54.08	47.33	37.92	40.06	23.90	14.96	10.58	14.49	11.73
TTM EPS CAGR	40.56	35.93	35.48	24.96	12.16	10.41	2.11	-1.04	11.78	7.08
Sales CAGR	17.55	-2.77	8.55	11.61	8.17	7.56	8.75	7.36	9.69	9.64
PAT Margin (Abs Growth)	5.55	5.03	1.02	0.29	-1.21	-2.97	-7.60	13.50	-21.65	-9.56
PE CAGR	-22.59	13.35	8.75	10.37	24.87	12.22	12.58	11.74	2.42	4.34
CFO CAGR	34.82	-14.79	8.61	35.94	28.26	3.66	24.32	20.08	20.68	4.17

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

NLC India Ltd.
Reliance Power
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	29,688	35,163	38,911	46,102	53,687	54,617	50,807	53,296	55,491	57,851
Non Current Assets	18,044	21,900	25,324	31,033	35,614	35,728	36,461	38,111	40,024	49,317
Net Block	16,327	15,997	16,765	17,658	24,109	25,824	24,875	24,058	23,391	30,602
Capital Work in Progress	2,542	5,219	8,397	13,856	12,662	11,597	13,022	14,636	17,726	15,297
Intangible Assets Under Development	208	144	199	118	128	102	114	—	—	—
Long Term Investments	12.69	12.69	12.69	12.69	13.51	13.59	6.62	7.59	7.84	8.08
Current Assets	9,995	11,761	11,676	12,785	15,889	16,151	11,292	11,803	11,629	8,021
Inventory	1,509	2,336	2,089	1,720	1,684	1,629	1,201	1,183	1,484	1,913
Accounts Receivable	3,738	4,793	4,558	6,187	8,510	7,522	3,710	4,264	3,772	3,141
Short Term Investments	—	—	—	—	—	—	—	—	—	—
Cash & Bank Balances	3,615	515	368	531	433	785	344	251	746	320
Liabilities	29,688	35,163	38,911	46,102	53,687	54,617	50,807	53,296	55,491	57,851
Shareholders Funds	12,782	12,126	13,352	12,769	12,905	13,485	14,189	15,169	16,531	18,723
Share Capital	1,678	1,529	1,529	1,387	1,387	1,387	1,387	1,387	1,387	1,387
Reserves	11,104	10,598	11,823	11,383	11,518	12,098	12,803	13,782	15,144	17,336
Non Current Liabilities	9,418	10,671	12,303	18,025	22,297	23,203	24,444	24,391	24,610	24,009
Secured Loans	6,554	8,102	8,088	12,815	17,878	16,706	16,278	15,936	16,690	—
Unsecured Loans	496	435	1,292	1,562	1,066	2,229	2,567	2,562	2,535	18,491
Current Liabilities	6,847	11,692	12,571	14,206	16,718	16,033	9,989	11,279	11,515	10,707
Accounts Payable	1,174	1,258	2,074	3,329	3,288	1,896	1,518	951	1,518	1,898
Short Term Loans	14.61	2,125	2,131	4,547	6,021	6,283	1,592	2,281	1,747	3,901

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

NLC India Ltd.
Reliance Power
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	7,876	11,186	11,288	9,871	10,321	9,846	11,948	16,165	12,999	15,281
Operating Expenses	5,352	6,925	7,275	7,577	6,873	7,043	7,785	10,324	9,463	11,189
Raw Material	—	—	—	—	—	—	—	—	—	0.00
Material Cost (%)	-4.68	-3.90	0.60	2.46	0.79	-0.52	3.99	1.28	-1.84	-1.16
Employee Cost	2,289	2,344	3,163	3,027	2,875	2,756	2,690	2,579	2,708	3,079
Power & Fuel Cost	875	1,599	1,746	1,879	1,781	1,667	1,373	2,479	2,342	—
Operating Profit	2,524	4,261	4,014	2,294	3,447	2,803	4,163	5,841	3,536	4,092
Other Income	493	714	576	908	1,272	1,952	598	1,218	947	1,600
OPM (%)	32.05	38.09	35.56	23.24	33.40	28.46	34.84	36.14	27.20	26.78
Depreciation and Amortisation	910	1,044	1,232	1,121	1,334	1,611	1,909	1,801	1,825	1,884
Interest	467	588	548	700	1,174	1,313	984	1,012	849	931
Profit Before Tax	705	2,289	2,821	2,561	2,345	2,223	2,603	2,056	2,882	3,697
Tax	637	-167	864	1,024	893	909	1,488	631	1,014	984
Net Profit	67.97	2,430	2,006	1,474	1,316	1,310	1,161	1,396	1,848	2,713
Number of shares(Crs)	168	153	153	139	139	139	139	139	139	—
Dividend Payout Ratio(%)	741	46.17	34.29	42.63	74.39	26.47	35.82	34.77	22.52	—

TTM Values as of Mar 2025

Cash Flow

NLC India Ltd.
Reliance Power
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	1,301	1,225	4,533	1,620	1,647	4,390	7,746	4,171	5,624	8,977
Profit Before Tax	1,611	3,163	2,821	2,561	2,345	2,223	2,603	2,056	2,882	3,697
Adjustments	1,101	1,473	2,243	1,615	2,542	2,812	3,050	2,202	3,074	3,430
OCF Before Working Capital	2,711	4,637	5,159	4,174	4,890	5,057	5,658	4,257	5,977	7,127
Working Capital Changes	-885	-2,908	-68.68	-2,053	-2,747	-338	2,960	73.23	259	2,363
Taxes Paid	-526	-504	-557	-501	-496	-328	-871	-159	-612	-513
Cash from Investing Activity	-1,380	-4,332	-4,593	-6,119	-5,812	-2,212	-763	-2,499	-3,151	-7,160
Net Fixed Assets Purchased	-1,690	-4,223	-4,637	-6,247	-5,893	-2,325	-914	-2,553	-3,248	-7,269
Fixed Assets Purchased	-1,695	-4,233	-4,646	-6,265	-5,895	-2,322	-917	-2,603	-3,259	-7,340
Fixed Assets Sold	4.58	9.44	9.24	18.70	1.81	-3.10	3.27	50.19	11.66	71.64
Investment Purchased	-118	-472	—	—	—	-0.01	—	—	-0.01	-1.40
Investment Sold	—	—	—	—	—	—	7.49	—	—	—
Interest Recieved	429	364	43.99	128	81.15	110	144	54.60	96.52	110
Dividends Recieved	—	—	—	—	—	—	—	—	—	—
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	62.65	-67.78	98.21	4,416	4,163	-2,037	-7,001	-1,735	-1,985	-2,196
Proceeds From Shares	406	226	—	386	669	98.56	306	253	378	—
Net Long Term Borrowings	956	2,900	1,731	4,967	5,153	-516	-89.17	-347	728	-735
Proceeds From Borrowings	956	2,900	1,731	4,967	5,153	-258	—	—	728	—
Repayment From Borrowings	—	—	—	—	—	-258	-89.17	-347	—	-735
Interest Paid	-730	-778	-857	-1,291	-1,950	-1,993	-1,699	-1,804	-1,918	-2,082
Dividend Paid	-445	-1,591	-781	-669	-1,183	-146	-457	-428	-498	-440
Net Cash Flow	-16.50	-3,174	38.51	-83.44	-1.53	140	-17.93	-61.94	487	-379
Opening Cash & Cash Equivalents	3,254	3,238	63.42	102	18.49	16.96	157	139	77.48	565
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	3,238	63.42	102	18.49	16.96	157	139	77.47	565	187
Net Capex (est)	1,690	4,223	4,637	6,247	5,893	2,325	914	2,553	3,248	7,269
Free Cash Flow (est)	-390	-2,998	-104	-4,627	-4,246	2,065	6,832	1,618	2,376	1,709

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

NLC India Ltd.
Reliance Power
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.98	1.24	0.81	0.76	0.78	0.85	0.91	1.01	0.94	0.88
Liquid Assets (Crs)	8,373	8,486	9,425	9,586	11,065	14,205	14,523	10,091	10,620	10,146
Current Liabilities (Crs)	4,236	6,847	11,692	12,571	14,206	16,718	16,033	9,989	11,279	11,515
Current Ratio	2.19	1.46	1.01	0.93	0.90	0.95	1.01	1.13	1.05	1.01
Current Assets (Crs)	9,272	9,995	11,761	11,676	12,785	15,889	16,151	11,292	11,803	11,629
Current Liabilities (Crs)	4,236	6,847	11,692	12,571	14,206	16,718	16,033	9,989	11,279	11,515
Interest Coverage Ratio	16.93	2.51	4.89	6.15	4.66	3.00	2.69	3.65	3.03	4.39
EBIT (Crs)	2,187	2,107	3,931	3,358	2,081	3,385	3,144	2,852	5,259	2,658
Interest Expenses (Crs)	150	467	588	548	700	1,174	1,313	984	1,012	849
Fixed Asset Turnover	0.29	0.46	0.63	0.57	0.45	0.35	0.29	0.35	0.45	0.35
Net Sales (Crs)	4,376	7,876	11,186	11,288	9,871	10,321	9,846	11,948	16,165	12,999
Fixed Assets (Crs)	15,305	17,233	17,860	19,849	21,867	29,676	33,618	34,611	35,596	36,739
Cash Conversion Cycle	1,232	1,092	1,218	-8,792	-3,790	320	359	-1,093	-2,067	2,036
Inventory Days	65.76	55.79	62.73	71.55	70.43	60.19	61.39	43.23	26.91	37.43
Days Receivable	187	139	139	151	199	260	297	172	90.02	113
Days Payable	-979	-897	-1,016	9,015	4,059	0.00	0.00	1,307	2,184	-1,885
Debt to Equity Ratio	0.44	0.66	0.95	0.99	1.61	2.11	2.02	1.55	1.47	1.35
Total Debt (Crs)	6,601	8,423	11,479	13,215	20,598	27,226	27,230	22,058	22,306	22,379
Shareholders Equity (Crs)	14,876	12,782	12,126	13,352	12,769	12,905	13,485	14,189	15,169	16,531
Free Cash Flow/Sales (%)	-4.48	-4.95	-26.80	-0.92	-46.87	-41.14	20.97	57.18	10.01	18.28
Free Cash Flow(est) (Crs)	-196	-390	-2,998	-104	-4,627	-4,246	2,065	6,832	1,618	2,376
Net Sales (Crs)	4,376	7,876	11,186	11,288	9,871	10,321	9,846	11,948	16,165	12,999
Profitability Ratios
Gross Margin (%)	105	105	104	99.40	97.54	99.21	101	96.01	98.72	102
Op Profit Margin (%)	43.33	32.05	38.09	35.56	23.24	33.40	28.46	34.84	36.14	27.20
Operating Profit (Crs)	2,628	3,017	4,975	4,590	3,202	4,720	4,755	4,761	7,059	4,483
Net Sales (Crs)	4,376	7,876	11,186	11,288	9,871	10,321	9,846	11,948	16,165	12,999
Net Profit Margin (%)	36.10	0.86	21.72	17.77	14.93	12.75	13.30	9.72	8.63	14.21
Net Profit (Crs)	1,580	67.97	2,430	2,006	1,474	1,316	1,310	1,161	1,396	1,848
Net Sales (Crs)	4,376	7,876	11,186	11,288	9,871	10,321	9,846	11,948	16,165	12,999
ROCE (%)	9.42	9.23	16.75	12.75	6.52	9.16	8.15	6.99	12.52	6.04
EBIT (Crs)	2,187	2,107	3,931	3,358	2,081	3,385	3,144	2,852	5,259	2,658
Capital Employed (Crs)	23,214	22,841	23,471	26,341	31,896	36,969	38,584	40,818	42,017	43,976
Return on Assets (%)	5.75	0.23	6.91	5.16	3.20	2.45	2.40	2.29	2.62	3.33
Net Profit (Crs)	1,580	67.97	2,430	2,006	1,474	1,316	1,310	1,161	1,396	1,848
Total Assets (Crs)	27,449	29,688	35,163	38,911	46,102	53,687	54,617	50,807	53,296	55,491
ROIC (%)	5.04	0.85	16.61	8.06	2.37	3.67	1.91	2.47	7.16	2.72
Op Profit after Taxes (Crs)	965	156	3,453	1,930	704	1,309	704	966	2,801	1,109
Invested Capital (Crs)	19,149	18,410	20,788	23,961	29,723	35,658	36,912	39,019	39,120	40,695
ROE (%)	10.62	0.53	20.04	15.03	11.54	10.20	9.71	8.18	9.20	11.18
Net Profit Margin (%)	36.10	0.86	21.72	17.77	14.93	12.75	13.30	9.72	8.63	14.21
Asset Turnover ratio	0.16	0.27	0.32	0.29	0.21	0.19	0.18	0.24	0.30	0.23
Equity Multiplier	1.85	2.32	2.90	2.91	3.61	4.16	4.05	3.58	3.51	3.36
Adjusted EPS	9.42	0.41	15.90	13.12	10.63	9.49	9.45	8.37	10.06	13.32
Valuation Ratios
P/E	7.47	175	6.75	6.39	6.54	4.64	5.34	7.47	7.67	17.12
Price to Book	0.79	0.93	1.35	0.96	0.76	0.47	0.52	0.61	0.71	1.91
EV/EBITDA	5.64	5.54	5.50	5.59	9.28	6.97	7.03	6.38	4.64	11.88
Dividend Yield (%)	3.98	4.23	6.84	5.37	6.51	16.05	4.96	4.80	4.53	1.32

Quarterly Results

NLC India Ltd.
Reliance Power
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	3,679	5,134	3,316	2,978	3,164	3,541	3,376	3,657	4,411	3,836
Operating Expenses	3,957	3,898	2,123	864	2,196	2,938	2,196	2,644	3,374	2,975
Increase/Decrease in Stock	54.13	-85.20	103	-77.52	-61.88	-203	179	-91.49	-10.52	-254
Raw Material	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Employee Cost	631	577	645	715	652	695	632	695	659	1,094
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	574	582	471	354	483	436	450	777	521	514
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	1,638	486	0.38	-1,278	-63.88	0.00	-97.78	63.31	789	0.00
Operating Profit	-278	1,236	1,194	2,113	969	602	1,180	1,013	1,038	861
Other Income	303	722	112	257	84.99	494	265	713	486	136
Interest	232	221	231	214	205	199	189	180	237	325
PBDT	-211	1,728	1,075	2,156	848	628	1,255	1,546	1,288	1,493
Depreciation and Amortization	460	472	461	455	446	462	433	413	458	581
Profit Before Tax	-670	1,256	614	1,701	402	165	822	1,133	830	912
Tax	-274	420	200	615	148	51.65	255	151	134	444
Profit After Tax	-396	837	414	1,086	254	114	567	982	696	468
Exceptional Items	-3.46	-8.79	0.00	0.00	0.00	-269	0.00	0.00	0.00	821
Net Profit	-407	830	405	1,085	250	114	559	912	668	482
Quarterly Ratios
EPS	-2.93	5.98	2.92	7.82	1.81	0.82	4.03	6.58	4.82	3.48
Operating Profit Margin	-7.57	24.08	36.00	70.97	30.61	17.01	34.95	27.70	23.52	22.45
Net Profit Margin	-10.78	16.29	12.47	36.47	8.03	3.21	16.78	26.86	15.78	12.21

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

23.00%

Implied Growth Rate over a 5 year period*

5.50%

Implied Growth Rate over a 10 year period*

1.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on NLC India Ltd. Financials

How strong is Neyveli Lignite balance sheet?

Neyveli Lignite balance sheet is weak and might have solvency issues

Is the debt of Neyveli Lignite increasing or decreasing?

Yes, The net debt of Neyveli Lignite is increasing.
Latest net debt of Neyveli Lignite is ₹22,072 Crs as of Mar-25.
This is greater than Mar-24 when it was ₹20,888 Crs.

Is the profitablity of Neyveli Lignite improving?

Yes, profit is increasing.
The profit of Neyveli Lignite is ₹2,713 Crs for TTM, ₹1,848 Crs for Mar 2024 and ₹1,396 Crs for Mar 2023.

Does Neyveli Lignite pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
Neyveli Lignite latest dividend payout ratio is 22.52% and 3yr average dividend payout ratio is 31.04%

How has Neyveli Lignite allocated its funds?

Companies resources are allocated to majorly unproductive assets like Capital Work in Progress

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NLC India Ltd.

NLC India Ltd.

Has the share price of Neyveli Lignite grown faster than its competition?

Is Neyveli Lignite stock expensive?

How strong is Neyveli Lignite balance sheet?

Is the debt of Neyveli Lignite increasing or decreasing?

Is the profitablity of Neyveli Lignite improving?

Does Neyveli Lignite pay decent dividends?

How has Neyveli Lignite allocated its funds?

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