NLC India Ltd (NLCINDIA)
₹72.5
Key Stats
₹72.1
Day's Price Range
₹75.55
₹49.8
52-Week Price Range
₹92.4
| Returns | |
| 1 Month Return | 7.69 % |
| 3 Month Return | 5.54 % |
| 1 Year Return | 33.81 % |
Company Financials
Value in ₹ crore
Peer Comparsion
PE
Rank 4
8.96
EPS
Rank 10
₹8.05
BVPS
Rank 11
₹100.82
Dividend Yield
Rank 3
4.96%
ROE
Rank 15
7.95%
Price To Book Ratio
Rank 6
0.71
Debt To Asset
Rank 13
0.74
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Company Information
NLC India Limited formerly Neyveli Lignite Corporation Limited NLC was incorporated on 14th November of the year 1956 as a private limited company under the house of Government of India GOI. The Company is engaged in business of mining of lignite and generation of power by using lignite as well as Renewable Energy Sources. It went to public in 7th March of the year 1986. NLC is having three lignite mines of total capacity of 30.60 million tonnes per annum at Neyveli Tamil Nadu and one open cast lignite Mine of capacity 2.1 million tonnes per Annum at Barsingsar Rajasthan. During the year 201819 the total lignite production of 242.49 lakh tones has been achieved.In the year 1986 a supplementary feasibility report for first mine expansion and a report on setting up a Power Station of 2 x 210 MW were submitted to the Government of India. The Company along with Engineers India Ltd had entered into a contract with Gujarat Mineral Development Corporation for monitoring expansion of Panandhro mine including construction supervision Cost monitoring inspection and approval of drawing etc. The 400 KV transmission system viz. 400 KV line between NeyveliChennai 400 KV line between NeyveliPondicherry along with the switching stations/ substations were commissioned in the year 1987. In the year 1988 an agreement was entered into with ICB of India for the preparations of the techno feasibility report for revamping the urea plant in consultation with the original supplier viz. Technimont Italy. Four electro static precipitators were erected and commissioned in thermal power stationI during the year of 1990. In the same year of 1990 the 170 Km. long NeyveliSalem second circuit 400 KV line was commissioned and also the second 315 MVA transformers at Udamalpet substation was also commissioned. During the year 1993 a contract was signed with M/s. PDIL Sindri for installation Commissioning of an efficient treatment plant for the fertilizer factory. Two Electro Static precipitators of the company were commissioned in Boiler4 and 7A in the period of 1995. During the year 1996 the company had received a sanction for the addition of 2 units of 210 MW each in thermal power stationI and also in identical year Bucket wheel excavator was released for rejuvenation works. The Corporation had take up a sizeable equity stake in the 250 MW lignitebased power project in the year 1998 being established at Srimushnam in the state by Tamil Nadu Industries Captive Power Company Ltd Ticapco a subsidiary of BSES Ltd. NLC had entered into an agreement with STCMS an US power generating private company in the year 1999 to set up a 250 mw thermal power station here and to supply lignite. In the year 2000 the company had transferred its Power Transmission System to Power Grid Corporation of India Ltd. Power Finance Corporation PFC has committed to extending a loan of Rs 1000 crore to the Neyveli Lignite Corporation NLC for its MineII and TPSII expansion project in the year 2001. During the year 2002 NLC had signed a MoU with Rajasthan government to setup a lignitebased thermal power station at Barsinger in Bikaner district and also in the same year the company had unveiled two new units the first 210MW unit of TPS1 and the fourth overburden system of Mine1A project. The Company had entered into MOU with Tamil Nadu Electricity Board for setting up of 100 MW Thermal Power Station in the year 2003 at Tuticorin in Tamil Nadu. During the year 2004 NLC bagged an ISO quality certification and made a tie up with the Oil Natural Gas Corporation Ltd ONGC. The company had entered into a MoU with Rural Electrification Corporation in the year 2005 for funds up to Rs 2500 crore and also in the same year made a Joint Venture agreement with Tamil Nadu Electricity Board. During August of the year 2006 the Corporation had signed a MOU with the Government of Gujarat for establishing an integrated Lignite Mine of 8 million tones per annum linked to power project of 1000 Mega Watt in South Gujarat in First phase to be enhanced to 1500 Mega Watt in second phase with linked mine capacity of 12 million tones per annum at a cost of Rs.7500 crores. As at July 2007 the company had entered into a joint venture agreement JVA with Mahanadhi Coal Fields a subsidiary of Coal India and Hindalco Industries for developing and mining Talabira II III coal blocks.On 15 May 2008 Neyveli Lignite Corporation informed the stock exchanges that the Government of India has accorded approval for development of 1000 MW coal based Thermal Power Project 2 X 500 MW at Tuticorin Tuticorin District Tamilnadu State at a capital cost of Rs 4909.54 crores through the Joint Venture Company named NLC Tamilnadu Power Ltd formed jointly by Neyveli Lignite Corporation Ltd NLC and Tamilnadu Electricity Board TNEB.The Board of Directors of Neyveli Lignite Corporation at its meeting held on 26 October 2009 accorded approval for the proposal for setting up of a 50 MW capacity Wind Power Project in the State of Tamil Nadu and also for proceeding with the issue of tenders for setting up of the above project on total turnkey basis and the placement of order for setting up of the above project will be made with the approval of the Board after evaluation of the final project cost.On 2 December 2010 Neyveli Lignite Corporation Ltd has informed the stock exchanges that the Company has entered to a Memorandum of Understanding with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd. UPRVUNL for setting up a 2000 MW coal based Thermal Power Plant in Ghatampur Teshil of Kanpur Nagar District in the State of Uttar Pradesh with an equity participation of 51 by NLC and 49 by UPRVUNL.UnitI of Neyveli Lignite Corporations Barsingsar Thermal Power Plant was dedicated to the nation on 5 June 2010. The Thermal Power Plant of 250 MW capacity two units of 125 MW each built at a total cost of about Rs 1626 crore. The fuel linkage is from the captive mine of capacity 2.1 MTPA and the raw water requirement is arranged through Indira Gandhi Nahar Pariyojana. The salient feature of this thermal power plant is that for the first time in India Circulating Fluidised Bed Combustion CFBC boilers ore installed for lignite fired Thermal Power Plant. These boilers are ecofriendly in minimizing the emission of sulphur dioxide a dangerous pollutant. The 125 mtrs tall biflue chimney conforms to the pollution control norms.In 2011 Neyveli Lignite Corporation was conferred the Navratna status.On 2 January 2012 Neyveli Lignite Corporation Ltd informed the stock exchanges that with effect from 00.00 hours of 29 December 2011 the UnitI of Barsingsar Thermal Power Station 125 MW has been declared for commercial operation. On 23 January 2012 Neyveli Lignite Corporation Ltd informed the stock exchanges that with effect from 00.00 hours of 20 January 2012 the UnitII of Barsingsar Thermal Power Station 125 MW has been declared for commercial operation. On 28 March 2012 Neyveli Lignite Corporation signed with State Bank of India a rupee term loan agreement for Rs 2500 crore for its Neyveli new thermal power station 2x500 MW. On 8 October 2012 Neyveli Lignite Corporation Ltd informed the stock exchanges that pursuant to Ministry of Coal Government of India letter dated 24 April 2012 Joint Venture Agreement has been entered into between Neyveli Lignite Corporation Ltd NLC and Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd UPRVUNL on 6 October 2012 for setting up a 1980 MW coal based thermal power project in Ghatampur Tehsil Kanpur Nagar District Uttar Pradesh with a shareholding of 51 of the equity by NLC and 49 by UPRVUNL. On 5 July 2013 Neyveli Lignite Corporation announced that the Union Ministry of Coal has allocated 2 coal blocks to NLC for implementing its power projects.On 25 February 2015 Neyveli Lignite Corporation announced that Unit I of NLC Tamilnadu Power Limited the subsidiary of the company has been test synchronized with the grid on 18 February 2015.The Board of Directors of Neyveli Lignite Corporation at its meeting held on 23 March 2015 approved the investment decision to set up Bithnok Lignite mine cum thermal power project at a cost of Rs 2700 crore. The Board also approved to establish Barsingsar Thermal Power Station Extension and lignite mine at Hadla at a cost of Rs 2628 crore.On 9 April 2015 Neyveli Lignite Corporation Ltd announced that Unit II 500MW of Tuticorin Power Project of NLC Tamilnadu Power Limited the subsidiary of the company has been test synchronized with the Grid on 9 April 2015.On 21 April 2015 Neyveli Lignite Corporation announced that that Unit I 250MW of Thermal Power Station II Expansion Project 2x250 MW at Neyveli which is the nations first project of this size with Circulating Fluidized Bed Combustion CFBC Boiler technology have been successfully declared for commencement of commercial operation with effect from 00.00 Hours on 22 April 2015.On 6 July 2015 Neyveli Lignite Corporation informed the stock exchanges that Unit II 250MW of Thermal Power StationII Expansion Project 2x250 MW at Neyveli which is the nations first project of this size with Circulating Fluidized Bed Combustion CFBC Boiler technology has been successfully declared for commencement of commercial operation with effect from 00.00 Hours on 5 July 2015. With commissioning of this unit the TPSII Expansion Project 500 MW is put into commercial operation.Neyveli Lignite Corporations 10 MW solar power project at Neyveli was inaugurated on 28 September 2015. This is the first renewal energy project of the company. On 23 February 2016 Neyveli Lignite Corporation Ltd informed the stock exchanges that the Ministry of Coal has conveyed the allotment of TalabiraII III Coal Mines in the State of Odisha by the Competent Authority in order to meet the coal requirements for the power projects of its subsidiary companies viz. NLC Tamilnadu Power Limited 5 MTPA Neyveli Uttar Pradesh Power Limited 10MTPA and Sirkali Power Project 20MTPA. On 11 August 2016 NLC India announced that it has entered into a Joint Venture Agreement JVA with Damaodar Valley Corporation DVC for formation of a Joint Venture Company JVC to acquire the 1200 MW 2x600 MW Raghunathpur Thermal Power Project RTPP of Damaodar Valley Corporation DVC at a consideration value being the project cost as recognised by CERC/Appellate Authorities for arriving at the final power tariff. As per the joint venture agreement NLC India will be holding 74 of the equity share capital in the JVC and the balance by DVC.The Board of Directors of NLC India at its meeting held on 31 January 2017 unanimously approved a proposal for the buyback of 15.06 crore equity shares representing 8.98 of the total number of equity shares in the paidup share capital of the Company from the shareholders of the Company through the tender offer route. The Board of Directors noted the intention of the Promoter of the Company to participate in the proposed Buyback.On 1 February 2017 NLC India announced its plan to install 500 MW solar power plants for Rs 2170 crore at various places in Tamil Nadu. On 1 January 2018 NCL India announced the commissioning of its prestigious 130 MW solar power project at 33/110 KV Pooling Substation at Neyveli. During the year 201718 the Government of India GOI disinvested 5.025 of shares held in the company through Offer for Sale OFS and further transferred 0.26 shares to Bharat 22 ETF.On 30 May 2018 NLC India Limited NLCIL and NMDC Limited signed a Memorandum of Understanding MoU with Environmental Clean Technologies Limited ECT for the largestever joint RD collaboration between Australia and India. The Project aims to jointly setup an integrated ColdryMatmor pilot plant in India which will develop a low emission Iron and Steel process. The agreement sees the commencement of the next stage of development for ECTs two proprietary technologies Matmor which is the worlds first and only lignite brown coalbased primary iron making technology and Coldry a unique zeroemission lignite upgrading technology capable of producing a solid fuel for use in power generation and Industrial thermal applications. Coldry solid fuel is significantly less CO2 intensive than lignite. The project entails two phases commencing with an AUD 35 million RD phase funded by the Indian partners which aims to scaleup ECTs Matmor and Coldry technologies to deliver an integrated pilot plant capable of producing about 2 tonnes of metal per hour. Following successful RD outcomes phase two involves commercial expansion targeting an integrated steel making facility with a proposed capacity of 500000 tonnes per annum and an estimated cost of AUD 300 million. The partners will then assess opportunities for global commercial expansion based on market assessment at that time.On 13 June 2018 NLC India Limited announced that it has joined the league of Accredited Power Traders in the country with CERC granting it Category I License for power trading. The company plans to carry out the trading activity through an exclusive powertrading arm for trading power by procuring power from other GENCOS through bilateral agreements. The trading of surplus power in the market will pave the way for effective utilization of generating capacity of GENCOS by catering to needy procurers by utilizing the surrendered/surplus power which otherwise would have gone waste.During the quarter ended 30 June 2018 the company commissioned 200 MW of Solar Power to its existing renewable portfolio.One of the 100 MW Units of Thermal Power Station I 600 MW was decommissioned in September 2018.During the year 2019 the Board of Directors of the Company had accorded approval for buyback of shares of the Company up to 141931818 equity shares at Rs 88 per equity share. As per the above decisions 141931818 numbers of equity shares were bought back which included 112611825 shares offered by the President of India.During the year 2019 the Company had signed a Power Purchase Agreement PPA with Uttar Pradesh Power Corporation Limited UPPCL for availing 75 of the Power from GTPP. Further to the request made UPPCL has agreed to procure the balance 25 of power and the same is under the process of approval from the Ministry of Power. During the year 2019 the Company tied up for an amount of Rs 6053.75 crore from the Banks for its ongoing projects and operational requirements. Highest credit ratings AAA/Stable have been accredited by top Credit Rating Agencies for all of its existing borrowing facilities obtained for various projects by the Company.In FY 2019 Mahanadi Coalfields Limited subsidiary the Company and Hindalco jointly formed MNH Shakti Limited with equity participation of 70:15:15 to implement 20.0 MTPA Coal Mining project in Talabira in the state of Odisha. The Talabira II III Coal Blocks allocated for this purpose have been cancelled pursuant to judgment of Honble Supreme Court of India and the Coal Mines Special Provisions Ordinance 2014. The JV Company has proposed for winding up and necessary formalities are underway.
| Organisation | NLC India Ltd |
| Headquarters | Chennai |
| Industry | Power Generation & Distribution |