The company’s revenue from operations increased 13.2% to ₹3,826 crore as against ₹3,378 crore in the corresponding period of the preceding fiscal.
At the operating level, EBITDA dipped 13.6% to ₹935 crore in the first quarter of this fiscal over ₹1,082 crore in the corresponding period in the previous fiscal. EBITDA margin stood at 24.4% in the reporting quarter as compared to 32% in the corresponding period in the previous fiscal.
The company has received in-principle approval to execute a Business Transfer Agreement for shifting its operational renewable energy assets to its wholly owned subsidiary, NLC India Renewables Limited (NIRL).
The transfer involves renewable assets valued at ₹5,228 crore, subject to adjustments based on asset valuation on the actual date of transfer. NIRL has been specifically formed to develop and operate the company’s renewable energy portfolio.
The restructuring is part of NLC India’s broader Asset Monetization Scheme, which has been approved by the Ministry of Coal, the company’s administrative ministry.
The move aims to streamline the company’s operations by consolidating renewable energy assets under a single, focused entity. The proposed transfer will be executed through a combination of cash consideration, equity share allotment, or loan/interest transfer in favour of NIRL.
The results came after the close of the market hours. Shares of NLC India Ltd ended at ₹233.35, down by ₹0.30 or 0.13% on the BSE.
