There are two management representatives. First, Prasanna sir is waiting. NLC India's CMD Prasanna Kumar M sir will appear on your screens. Prasanna sir, good afternoon, welcome on the show. Thank you so much for joining us.
What were the numbers for NLC India? That morning, we mentioned it in the straight trade. It should be called stellar. According to the Q4 performance, there was a 32% jump in income. The highest ever production or generation since the company was established, such production and generation numbers have not been reported in a financial year.
Prasanna sir, first of all, good momentum in the top line. Is this also a reason that in the last 12 months, some additional capacities were commissioned, and due to their commissioning, the revenue momentum gained more traction?
Sir, that was also one of our reasons. Right now, in all three verticals—our mining, power generation, and renewable power generation—capacity addition has happened in all three. Like, in our thermal and renewable combined, almost more than one gigawatt of addition has happened. And mining capacity has also increased. Because of this, and the operational performance has also seen improvement, and financial discipline—all these together are the reasons for the results we have achieved.
Okay. The release says that in the financial year, about 103 megawatts of new capacity was added, and its breakup is also beautifully specified in the release. Not only was the revenue momentum strong, but margin expansion was also standing out. Revenue grew by 32%. EBITDA doubled by 1006% in comparison, and margins saw an expansion of almost 1200 to 1300 basis points. Prasanna sir, how did this happen? Was it fuel cost optimization, or was it that seasonal demand peaked and you benefited from that? And then, the question in everyone's mind will be whether this is sustainable or not at higher levels?
Sir, our current financial performance is due to one reason I mentioned earlier, which is the capacity addition. And it is also due to the energy conservation measures and cost control measures we were taking. We also have aggressive plans for further capacity addition. So, the performance that has come this year, we have capacity addition programs in all verticals to continue this performance going forward. So, we hope that we will continue to deliver similar financial performances in the future as well.
Okay. The Pachawara South coal mine started production, I think, two months ago this year in March 2026. What is the roadmap you are working on, Prasanna sir? When will you achieve 100% fuel self-sufficiency for your thermal plants? And when you are doing all this, to what extent does NLC India become insulated from the volatility of global coal prices?
Sir, this Pachawara South coal block is to supply coal to our Ghathampur thermal power station. Until now, we were taking coal from other sources. But now, production has started in our Pachawara South coal block. This year, we expect to produce more than two million from this mine. This is good quality coal, and once all three units of our Ghathampur thermal power station start running, our target is to fulfill 100% of their fuel requirement from this. And while it does depend somewhat on global coal prices and their volatility, based on the current situation, we are able to sell whatever coal we produce at the right rate and earn revenue.
Is that happening? Is the environment becoming challenging? Are there problems regarding the financial health of DISCOMs, tariff adjudication issues, collection efficiency issues? Is something like this happening in the marketplace for your new thermal power plants? Are you facing any difficulties?
Sir, not at all, sir. In the financial performance we have delivered, collection efficiency was one factor. There was a time when dues were 13,000, 14,000 crores, but now it is only 2,000 crores, 1,800 crores, and that too is running dues. Our collection efficiency is also more than 100%. We are getting full cooperation from all DISCOMs, and payments are being received timely. We do not think there will be any kind of problem going forward.
This environment is good and will continue for some time. The management is confident. The Q4 numbers were great, and this kind of momentum will be sustained going forward. There was another update regarding NLC India Renewables Limited, or NIRL. The Government of India has approved the listing of your wholly-owned subsidiary. There will be fresh equity and partial stake divestment. Prasanna sir, what timeline are you working on? When should I expect you to hit the markets?
Sir, as you know, we need a capex of 125,000 crores. For that, we are also trying to generate internal resources. Sir, we expect its IPO to come in the month of September. All activities for this are progressing very fast. We had received the approval for the share transfer from the government, and since January 1st, the complete assets have also been transferred to NIRL. All other necessary activities are also progressing rapidly. We hope to hit the IPO by September.
Around September, it will probably hit the markets. What kind of valuations will it command, or do you have any floor valuations in mind?
Sir, we are not working with a floor valuation right now. We expect it to be good. We are waiting for it, and we will know in September.
