National Aluminium Company Limited — Investor Meet, 05-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

NALCO reported record Q3 & 9M performance ending Dec 2025. 9M income grew 13%, PBT up 25%. Key drivers were higher production volumes (alumina +20%, metal +3.5%) and cost efficiencies (power/fuel, caustic soda). New alumina refinery starts commissioning in June, aiming for 3 lakh tons this year. A 0.5M ton metal capacity expansion is planned by 2030-31. While aluminium LME outlook is strong (~$3000), alumina prices are softer (~$320). Q4 faces higher input costs from CP coke. Management is confident in strategic growth and operational improvements.