NLC India enterprise value

Share price at each year-end

Tap a line for its trend	Currentlast 12M	FY26Mar 2026	FY25Mar 2025	FY24Mar 2024	FY23Mar 2023	FY22 and earlierAlpha Plus


32,967	—	—	—	—	FY22 and earlierEvery year the company has filed comes with Alpha Plus.
712	712	187	565	77.5
3,749	3,749	3,222	2,835	2,457
27,802	27,802	22,392	22,379	22,306
63,806	—	—	—	—
27,090	27,090	22,205	21,815	22,228
₹460.15	—	—	—	—

53,076	53,076	44,337	41,746	39,931
52.4%	52.4%	50.5%	53.6%	55.9%
0.44×	—	—	—	—

3.47×	—	—	—	—
10.42×	—	—	—	—
17.63×	—	—	—	—
12.35×	—	—	—	—
18,381	17,490	15,283	12,999	16,165
6,125	5,588	4,840	3,536	5,841
3,620	3,210	2,956	1,711	4,041
—	5,166	8,977	5,624	3,761
5,166	5,166	1,637	2,364	1,158
—	5,095	1,073	1,289	889
—	0.0	7,340	3,259	2,603

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From the company's filings with NSE and BSE (Ind-AS), consolidated. For information only, not investment advice.

alphave

NLCINDIA₹237.75

NLC India Ltd.

· Energy & Power

₹ CrorePeersNTPC COALINDIA SJVN NTPCGREEN TORNTPOWER VEDPOWER CLEANMAX JSWENERGYMcap ₹32,967 Cr

HighlightsEnterprise Value Multiples Per ShareAnnuals · FY-end closes

In ₹ Crore except Per Share 12 Months Ending	FY23 31/03/2023	FY24 31/03/2024	FY25 31/03/2025	FY26 31/03/2026	Current/LTM TTM · last close
Market Capitalization	—	—	—	—	32,967.4
- Cash, Equiv & ST Investments	77.5	564.9	187.0	712.1	712.1
+ Minority Interest	2,456.8	2,835.2	3,221.8	3,749.3	3,749.3
+ Total Debt	22,305.7	22,379.5	22,392.1	27,801.9	27,801.9
Enterprise Value	—	—	—	—	63,806.5
Net Debt (memo)	22,228.2	21,814.6	22,205.2	27,089.9	27,089.9
EV per Share	—	—	—	—	460.15

Total Capital	39,931.4	41,745.7	44,336.8	53,076.0	53,076.0
Total Debt/Total Capital	55.86	53.61	50.50	52.38	52.38
Total Debt/EV	—	—	—	—	0.44

EV/Sales	—	—	—	—	3.47
EV/EBITDA	—	—	—	—	10.42
EV/EBIT	—	—	—	—	17.63
EV/Free Cash Flow	—	—	—	—	12.35
Reference Items — Trailing FY Values
Sales	16,165.2	12,999.0	15,283.0	17,489.5	18,380.7
EBITDA	5,841.5	3,535.5	4,840.2	5,588.4	6,125.1
EBIT	4,040.7	1,710.7	2,956.0	3,209.9	3,619.9
Operating Cash Flow	3,761.4	5,623.7	8,977.1	5,166.1	—
Free Cash Flow	1,158.0	2,364.3	1,636.9	5,166.1	5,166.1
FCFF (free cash flow to the firm)	889.3	1,288.8	1,073.0	5,095.2	—
Capital Expenditure	2,603.4	3,259.4	7,340.2	0.0	—

Market Cap/EV/multiples pair each (split/bonus-adjusted) FY-end close with the latest filed share count; Current column uses the last close. Market Capitalization is a market-level figure — identical across Consolidated/Standalone (the accounting rows below differ). No consensus estimates → no Est columns. Click any row to chart it.

« ‹ › »Latest: FY26 · ConsolidatedFA Financial Analysis · alphave

Data & compliance. Descriptive financial information from official NSE/BSE filings — for information and education only, not investment advice, a recommendation, or a valuation. Standalone = parent entity; consolidated includes subsidiaries. Historical multiples pair each fiscal year's filed figures with that FY-end market close; the Current column uses the last close with the latest filed annuals. Figures are cross-verified via accounting identities and NSE×BSE agreement — XBRL cross-verified ✓ 95%.