On May 20, 2025, NLC India surprised the street. After market hours on Monday, the company reported a fourfold jump in net profit for the March quarter (Q4 FY25). By the next morning, the NLC India share price shot up 9%, hitting an intraday high of ₹257.90.
Let’s break down what happened, what the numbers really say, and what the future might look like for this public sector energy player.
Also read: DLF shares rise after strong Q4 FY25
Q4 FY25 financial performance
The big headline was the 311% year-on-year growth in net profit. NLC India posted a net profit of ₹468.46 Cr in Q4 FY25, compared to ₹114 Cr in Q4 FY24. However, this was lower than the ₹696 Cr net profit recorded in the previous quarter (Q3 FY25).
Revenue from operations stood at ₹3,836 Cr, an 8.3% increase from ₹3,540.6 Cr in Q4 FY24.
Here’s a quick look:
| Metric | Q4 FY25 | Q4 FY24 | % Change (YoY) |
| Revenue | ₹3,836 Cr | ₹3,540.6 Cr | +8.3% |
| EBITDA | ₹997.26 Cr | ₹1,096.04 Cr | -9% |
| EBITDA Margin | 25.11% | 27.17% | -2.6% |
| Net Profit | ₹468.46 Cr | ₹114 Cr | +311% |
While the bottom line rose sharply, the EBITDA margin saw a slight contraction, largely due to rising costs and other expenses.
FY25 annual performance:
Looking at the full financial year, FY25 was a high point for NLC India.
- Total revenue: ₹15,282.96 Cr (vs ₹13,001.33 Cr in FY24)
- Net profit: ₹2,713.61 Cr (highest ever)
- EBITDA: ₹6,512.96 Cr (also a record)
| Metric | FY25 | FY24 | % Change |
| Revenue | ₹15,282.96 Cr | ₹13,001.33 Cr | +17.55% |
| Net Profit | ₹2,713.61 Cr | ₹1,854 Cr | +46% (approx) |
This strong annual performance further boosted investor sentiment and helped justify the recent rally in the NLC India share price.
Dividend declared:
The board recommended a final dividend of ₹1.50 per share (15%) for FY25. While not high in absolute terms, it does reflect the company’s intent to reward shareholders, especially after a profitable year.
NLC India’s new joint venture
NLC India also announced a new joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL). In this JV:
- NLC will hold a 74% stake, and RVUNL the remaining 26%.
- Develop and operate a 3×125 MW lignite-based thermal power station in Rajasthan.
- Fuel needs will be met through newly developed lignite mines.
This aligns with NLC’s strength in lignite mining and thermal power, and gives it more skin in the game in Rajasthan’s growing energy market.
You may also read: Delhivery jumps 10% after Q4 results
NLC India stock performance:
After peaking in early 2024, the NLC India share price saw a correction in April 2025, falling by 7%. But since May 9, it’s rebounded strongly, gaining about 17%. Looking at a broader timeline:
- From March 2023 to January 2024, NLC rallied 236% in just 11 months.
- Q4 FY25 results acted as a fresh trigger for renewed investor interest.
What should investors make of it?
Investors who might not track public sector companies closely, NLC India is worth a look, not just for its dividend, but for its steady growth in power and renewables. It has also begun diversifying beyond lignite, with a renewable portfolio of 1,421 MW, mostly solar.
It operates with zero net debt and has delivered strong cash flows. However, it’s still heavily dependent on government policy, environmental norms, and commodity prices.
So while it might not be a flashy stock, NLC India seems to offer:
- Consistent profitability
- Dividends
- Reasonable growth
- Sectoral relevance in India’s power journey
Also read: Data Patterns soars on 60% profit jump
Conclusion
The NLC India share price rally post Q4 FY25 is not just hype. The company delivered on earnings, kept costs in check, and is making smart moves for future growth. For retail investors looking for long-term plays in the energy and infrastructure space, NLC India could be a worthy addition to the watchlist.
As always, do your research or speak to a financial advisor before investing.
