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Earnings Conference Call Q2 FY 2026-27 3rd Nov’ 2026
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Disclaimer The information in this document is being provided by the Co mpany and is subject to change without notice. The Company relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. This document contains statements about future events and expectations that are forward-looking statements. These statements typically contain words such as "expects" and "anticipates" and words of similar import. Any statement in this document that is not a statement of historical fact is a forwar d-looking statement that involves known and unknown risks, uncertainties and other factors which may cause our actual resu lts, performance or achieveme nts to be materially different from any future results, performance or achievements expressed o r implied by such forward-looking statements. None of the future projections, expectations, estimates or prospects i n this document should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have bee n prepared are correct or exhaustive or, in the case of the assumptions, fully stated in the document. The Company assume s no obligations to update the forward looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. Important factors that could make a difference to the Compan y’s operations include, among others, economic conditions affecting demand/supply and price conditions in the domes tic and overseas markets in which the Company operates, changes in or due to the environment, Government regulati ons, laws, statutes, judicial pronouncements and/or other incidental factors.
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Agenda Physical Performance Financials Long Term Growth Plan Company at a Glance Physical Performance Financial Highlights Industry Outlook Business Highlights Responsible & Resilient
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Company at a Glance Navratna CPSE. Govt of India Holding 51.28%. Integrated Bauxite-Alumina-Aluminium-Power-Coal Complex. Global leader in producing bauxite and alumina at the lowest cost. Long Term Growth Plan Responsible Corporate Citizen Bauxite Refinery Smelter CPP Coal 6.825mtpa 2.1 mtpa Alumina Hydrate Special Hydrates Calcined Alumina 0.46 mtpa Standard Ingots T Ingots Billets Wire Rods Rolled Products 1200 MW 4.0 mtpa Port Facilities Dedicated Facilities for Storage of Alumina, Caustic Soda, Ship Loading Wind Power 198 MW
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Physical Performance Production Q2 / 26-27 Q1 / 26-27 Q2 / 25-26 % change against CPLY FY 25-26 Bauxite 1622 1,829 1780 -8.9% 7,707 Alumina Hydrate 556 578 576 -3.5% 2,300 Metal 120 116 119 0.8% 472 Coal 1,095 1,009 941 16.37% 4,000 Thermal Power 1,634 1,725 1,743 -6.3% 6,953 Sales Q2 / 26-27 Q1 / 26-27 Q2 / 25-26 % change against CPLY FY 25-26 Alumina – Export 305 305 365 -16.4% 1308 Alumina – Domestic 35 43 31 12.9% 138 Metal – Export 21 - ~ 13 Metal - Domestic 119 112 112 6.3% 461 All figures in ‘000T except Power in MU All figures in ‘000T
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Financial Performance All figures in Rs Crore Particulars Q2 / 26-27 Q1 / 26-27 Q2/ 25-26 % change against CPLY FY25-26 Net Sales 5,380 5,269 4,262 26.2 17,729 Other Op Income 39 33 30 30 114 Revenue from Operation 5,419 5,302 4,292 26.3 17,843 Other Non-Op Income 248 173 152 63.2 666 Total Income 5,667 5,475 4,444 27.5 18,509 Operating Expenses 3,008 2,594 2,367 27.1 9,896 EBIDTA (Excl. Exceptional Income 2,659 2,881 2,077 28.0 8,613 Depreciation 178 182 174 2.3 745 Finance Cost 10 10 8 25 100 Exceptional Income / (Expense) -- - - - PBT 2,471 2,689 1,895 30.4 7,767 PAT 1,835 2,002 1,433 28.1 5,816
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LME Price Trend $3,148 $3,065 $3,370 $3,601 $3,670 $3,459 $3,156 $3,250 $3,277 $3,061 2,300.00 2,500.00 2,700.00 2,900.00 3,100.00 3,300.00 3,500.00 3,700.00 3,900.00 Jan'26 Feb'26 Mar'26 Apr'26 May'26 Jun'26 Jul'26 Aug'26 Sep'26 Oct'26 LME Aluminium prices are likely to be impacted by: a) Impact of re-surfaced geopolitical tensions / disruptions to Middle East Aluminium production and logistics and Recovery pace (net supportive early, then eased) b) Steady LME stock drawdown to multi-decade lows (supportive throughout) c) Near-term physical tightness and Russian-origin Inventory constraints (supportive) d) Strong Chinese production and rising semi/alloy exports (both China & Indonesia) - (capping/downside) e) Broader risk sentiment and macro flows (firmer US$, elevated Treasury yields and FED hawkish stance (further hikes priced for Dec’26) (bearish). With Global inventories remaining at historically low levels (0.23 Mln. T ) and market still expected to be in deficit during the Q4‐2026 before gradually moving towar ds a more balanced position in 2027. The LME Aluminium price outlook for Q4 2026 is expected to average between U S$ ~$2,950 – $3,150/t. UPSIDE RISK Renewed Hormuz disruption China capacity enforcement Weaker USD. DOWNSIDE RISK Faster Gulf restarts China/Indonesia export surge Stronger – than - expected FED tightening.
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137.00 139.40 144.10 145.20 136.70 140.40 143.00 143.30 2023 2024 2025 2026 (P) Global Alumina Scenario Production (Global) Consumption (Global) Industry Outlook – Global 71.40 72.98 74.62 18.64 18.74 19.00 71.14 73.23 74.46 19.22 18.84 19.12 FY 2023‐24 FY 2024‐25 FY 2025‐26 Q2' 2026‐27 Q2'2025‐26 Q3' 2026‐27 (F) Global Aluminium Scenario Production (Global) Consumption (Global) 3.1 3.3 3.4 3.1 3.4 2023 2024 2025 2026 (Projection) 2027 (Forecast) Global GDP Growth (%) Source: CRU, September 2026 Source: CRU, September’ 2026 Source: IMF, October, 2026
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Industry Outlook – India 8.2 6.5 7.8 7.1 7 2023‐24 2024‐25 2025‐26 2026‐27 (P) 2027‐28 (F) GDP Growth Rate (%) “India is expected to remain one of the fastest-growing Aluminium marketsglobally, with domestic Aluminium demand projected to grow at around 6–8% CAGR through 2030.” Electrical, 48% Transportation & Automobile, 15% Building & Construction, 13% Consumer Durables, 7% Machinery & Equipments, 7% Packaging, 4%Others, 6% Indian Aluminium consumption continues to witness +ve growth in past 05 – years with Power, Transportation and Packaging & Consumer Durables sectors contribu t i n gt ot h e growth. Source: NITI Aayog, 2026 Source: Reuters, PIB, Oct’ 2026 Source: Min of Mines, Govt of India 4.03 4.1 4.19 4.24 4.29 2.19 3.9 4.44 4.95 5.5 6.12 3.05 2021-22 2022-23 2023-24 2024-25 2025-26 2026-27 (upto Sept'26) Production Consumption INDIAN ALUMINIUM SCENARIO - Production – Primary Aluminium - Consumption – incld. Imports & Scrap Source: Industry, Export - Import data bank
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Business Highlights Unlocking Higher Productivity through Optimal Use of Installed Capacities Driving Cost Efficiency through Reduction in Specific Consumptions Building Sustainable Competitive Advantage via Secured Raw Material Linkages Expanded Refinery capacity to protect bottom line in case of LME downswing Smelter capacity addition to give scope for extrusions and other value added products Strengthening Operational Efficiency
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Business Highlights - Major Projects Pottangi Bauxite mines: (111 million tonne reserve) Capacity: 3.5 MTPA Approach Road work – Pending - MDO appointed Pottangi Bauxite mines: (111 million tonne reserve) Capacity: 3.5 MTPA Approach Road work – Pending - MDO appointed Brownfield expansion of Aluminium Smelter Capacity: 0.5 MTPA TLA and MSA signed with DUBAL (EGA) Pre-Project activities under progress Brownfield expansion of Aluminium Smelter Capacity: 0.5 MTPA TLA and MSA signed with DUBAL (EGA) Pre-Project activities under progress Captive Power Plant for new Smelter Capacity: 4X270 MW = 1080 MW Pre Project activities under progress JV with NLCIL Captive Power Plant for new Smelter Capacity: 4X270 MW = 1080 MW Pre Project activities under progress JV with NLCIL 5th Stream Alumina Refinery Capacity: 1 MTPA Pre-Commissioning started: June’26 Bauxite Mines, Damanjodi Alumina Refinery, Damanjodi Aluminium Smelter, Angul Captive Power Plant, Angul
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Business Highlights - Major Projects Greenfield Smelter, Mulapeta (AP) 0.5 MTPA Aluminium Smelter subject to availability of Land Captive Power Plant, Mulapeta (AP) 4 × 270 MW = 1,080 MW CPP Bauxite Reserves, Andhra Pradesh Request for Bauxite block Allocation put up to Chief Secretary, Govt. of AP (Section 17A, MMDR Amendment Act, 2015) Aluminium Value Addition 1. AWRM: 60,000 EC / 40,000 TPA Alloy ₹220 Cr Investment Approval accorded. Tender floated 2. Foil Plant :20,000 T DPR under prep. 3. HS Alloy: along with smelter expansion
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Responsible & Resilient Key Initiatives & Focus Afforestation • Waste Utilisation & Reduction • Advanced Pollution Control Technologies Water Pollution Management • Biodiversity Protection • Efficient Fuel Handling Key Achievements & Initiatives Eco-friendly Bauxite Transport 14.6 km Multi-curve belt conveyor + 7.9 km 2nd Conveyor system Being installed (South Block) Blast-Free Mining 98% Of mining operations 5-Star Rating Both Blocks C&N and South Block Bauxite Mines Plantation FY25-26 1,87,969 Trees planted (+8% YoY) Area Rehabilitated 15.5 Ha Mined-out areas restored with plantation Water Positive Certified Bauxite Mine is water positive Wind Power 198 MW 307 MU generated (FY 25-26) 15 MW in pipeline Rooftop Solar 1,060 kWp 7 MW in pipeline Minimising environmental harm & Implementing effective risk management strategies.
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Responsible & Resilient Education Indradhanush: Sponsoring students to reputed residential schools, ~1,500 students benefited NALCO Ki Ladli: Financial assistance to ~1,600 meritorious girl students of BPL families Healthcare Mobile Health Units: 09 MHUs covering ~250 peripheral villages, over 1,20,000 patients treated annually OPD facility at Angul: ~18,000 patients annually Women Empowerment SHG Group – Sakha Foundation (50 Beneficiaries) Jackfruit processing, Ragi cookies, Ginger products, Mushroom cultivation Peripheral Development Infrastructure support: Road, water facilities, school infrastructure, drainage systems Puri Iconic Shrine Sanitation, upgrade infrastructure, beautification, battery operated vehicle Sanitation 11 ODF Villages (6 in Koraput, 5 in Angul) 1,500 individual Household Latrines, Hygiene kit distribution, water and sanitation Strategic CSR Projects are taken up by NALCO. Its CSR arm NALCO Foundation takes up all other projects. S
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Responsible & Resilient Rural Development / Model Village 46% Healthcare 21% Education 7% Water / Sanitation 7% National Heritage/ Art & Culture 6% Swachh Iconic Site Development 4% Skill & Livelihood 4% Others 3% Administrative Exp. 2% FY 2025-26 Obligation - ₹ 7913.00 Lakh Expenditure - ₹ 8076.65 Lakh FY 2025‐26 Expenditure Break‐up FY 2026-27 Obligation - ₹ 11780.00 Lakh
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Responsible & Resilient 10 Board Level Committees(Audit Committee and Nomination & Remuneration Committee not in position due to absence of adequate number of Independent Directors on the Board) 17 Core Policies & Guidelines Excellent Rating in FY 2025-26self-appraisal reports to the DPE, adherence to Good Corporate Governance. Fair treatment of investors, dividend policies, and reporting transparency Regular Risk Assessments & Evaluations to Manage Risk. G
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Thank You