| Project Capacity | 900 MWSolar Power |
|---|---|
| Market Cap | ₹40,982 CrMid Cap |
| Revenue TTM | ₹17,490 CrAnnual Operating |
| PE Ratio | 11.64TTM Basis |
| Order from | Gujarat Urja Vikas Nigam Limited (GUVNL) |
Key highlights
- Received Letter of Intent from Gujarat Urja Vikas Nigam Limited (GUVNL) for solar power generation
- Total project capacity finalized at 900 MW to be set up by subsidiary NLC India Renewables Limited
- Awarded through a transparent tariff-based competitive bidding process
- Long-term power procurement agreement secured with GUVNL for the entire project output
- Strengthens the company's strategic transition from fossil fuels to renewable energy assets
What Is the Order?
NLC India Renewables Limited, the green energy arm of NLC India, has been awarded a mandate to develop a 900 MW solar power facility. The Letter of Intent was issued by Gujarat Urja Vikas Nigam Limited following a competitive bidding round focused on cost-effective tariff discovery. Under this arrangement, NIRL will be responsible for setting up the infrastructure, while GUVNL will act as the sole procurer of the electricity generated.
This project represents a substantial addition to the company's renewable pipeline, supporting its long-term goal of balancing its traditional lignite-based power assets with sustainable energy generation.
Client Profile
Gujarat Urja Vikas Nigam Limited is the state-owned holding company for electricity utilities in Gujarat, overseeing bulk power purchase and supply across the region. As a major nodal agency for renewable energy, GUVNL is instrumental in managing Gujarat's energy transition and meeting renewable purchase obligations. By securing an order from a high-rated utility like GUVNL, NLC India ensures a reliable off-take partner, which reduces the commercial risks associated with large-scale solar installations.
GUVNL's procurement through competitive bidding has become a standard for utility-scale solar deployment in the Indian power sector.
Business Overview
- NLC India is a Navratna Public Sector Enterprise operating under the Ministry of Coal with a focus on integrated energy solutions.
- The company is undergoing a strategic transformation to reach a total power generation capacity of over 17 GW by 2030.
- Its renewable energy roadmap targets 6 GW of solar and wind capacity to reduce its overall carbon footprint.
- Current operations span lignite mining, thermal power generation, and increasingly, large-scale solar and wind farms across India.
- The company maintains a strong pan-India presence with major projects in Tamil Nadu, Rajasthan, Odisha, and now Gujarat.
Financial Context
NLC India exhibits a robust financial profile with an annual operating revenue of 17,489.53 crore and a net profit of 3,522.2 crore. The company's recent quarterly performance showed a net profit growth of 189.12 percent year-on-year, highlighting strong operational efficiency. With a price-to-earnings ratio of 11.64, it trades significantly below the industry average of 23.09.
A Piotroski Score of 7 indicates healthy financial health, supporting the company's ability to fund capital-intensive renewable projects. Despite recent market volatility, the stock has maintained a positive one-year return of 23.43 percent.
| Share price | ₹295.55 |
|---|---|
| Market capitalisation | ₹40,982.04 Cr |
| Revenue (annual) | ₹17,489.53 Cr |
| Net profit (annual) | ₹3,522.20 Cr |
| Revenue (latest quarter) | ₹5,042.46 Cr+13.49% vs previous quarter |
| Net profit (latest quarter) | ₹1,393.46 Cr+109.22% vs previous quarter |
| P/E (TTM) | 11.64×Sector 31× |
| Promoter holding | 69.47%-2.73% QoQ |
| FII holding | 4.62%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by NLC India Limited announcing the receipt of a Letter of Intent for a 900 MW solar power project. Market figures from a third-party data provider.
