Stock Performance and Market Context
On 27 Jan 2026, National Aluminium Company Ltd recorded an intraday high of Rs.386, representing a 4.2% increase from its previous close. The stock outperformed its sector by 2.64% and has been on a consistent upward trajectory, gaining for four consecutive days with a cumulative return of 7.55% during this period. This rally has propelled the stock well above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling strong technical momentum.
In comparison, the broader market showed mixed signals. The Sensex opened lower by 100.91 points but rebounded sharply to close 420.69 points higher at 81,857.48, a 0.39% gain. Despite this recovery, the Sensex has experienced a three-day consecutive decline overall, losing 0.39% in that span. Notably, the S&P BSE Metal index, which includes National Aluminium Company Ltd, also hit a new 52-week high on the same day, underscoring sectoral strength.
Long-Term Returns and Valuation Metrics
Over the past year, National Aluminium Company Ltd has delivered an impressive 95.03% return, vastly outperforming the Sensex’s 8.61% gain. The stock’s 52-week low was Rs.140, highlighting the substantial appreciation in value over the last twelve months. This performance places the company among the top performers in the non-ferrous metals sector, where it holds the position of the second largest company by market capitalisation at Rs.68,277 crores, constituting 23.74% of the sector’s total market cap.
Despite its strong gains, the stock trades at a premium valuation with a price-to-book ratio of 3.4 and a return on equity (ROE) of 30.8%. The company’s price-to-earnings-to-growth (PEG) ratio stands at 0.1, reflecting the rapid profit growth relative to its valuation. This premium is supported by the company’s consistent financial performance and strong fundamentals.
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Financial Strength and Profitability
National Aluminium Company Ltd’s financial metrics underscore its robust operational health. The company has maintained a low average debt-to-equity ratio of zero, reflecting a debt-free balance sheet that supports sustainable growth. Operating profit has expanded at an annualised rate of 139.15%, while net profit has grown by 34.71% in the most recent reporting period ending September 2025.
Operating cash flow for the year reached a record high of Rs.5,806.11 crores, and the latest six-month profit after tax (PAT) stood at Rs.2,479.42 crores, marking a 51.70% increase. Net sales for the first nine months of the fiscal year totalled Rs.13,367.11 crores, up 28.08% year-on-year. These figures highlight the company’s ability to generate strong cash flows and profitability consistently.
Market Position and Institutional Confidence
With annual sales of Rs.18,029.33 crores, National Aluminium Company Ltd accounts for 6.58% of the non-ferrous metals industry’s total sales. It ranks fourth among mid-cap companies and fifth across the entire market according to MarketsMojo’s comprehensive ratings. The company’s Mojo Score of 85.0 and upgraded Mojo Grade to Strong Buy on 11 Nov 2025 reflect its superior fundamentals and market standing.
Institutional investors hold a significant 32.02% stake in the company, indicating strong confidence from entities with extensive analytical resources. This institutional backing complements the company’s consistent track record of positive quarterly results, having declared favourable outcomes for eight consecutive quarters.
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Sectoral and Market Dynamics
The non-ferrous metals sector has demonstrated resilience and growth, with the S&P BSE Metal index reaching new 52-week highs alongside National Aluminium Company Ltd. The company’s market capitalisation of Rs.68,277 crores places it just behind Hindalco Industries, the sector leader. This strong positioning within the sector is supported by consistent sales growth and profitability metrics that exceed many peers.
Despite a recent short-term correction in the broader Sensex index, mega-cap stocks have led the market’s recovery, with National Aluminium Company Ltd’s strong performance contributing to sectoral momentum. The stock’s ability to sustain gains above all major moving averages further emphasises its technical strength amid fluctuating market conditions.
Valuation Considerations
While the stock’s valuation is on the higher side relative to peers, this is balanced by its exceptional return on capital employed (ROCE) averaging 33.90%, indicating efficient utilisation of capital to generate profits. The company’s PEG ratio of 0.1 suggests that earnings growth is outpacing the stock’s price appreciation, a factor that often appeals to value-conscious investors despite premium multiples.
National Aluminium Company Ltd’s consistent delivery of positive results over multiple quarters, combined with its strong balance sheet and cash flow generation, underpin its current market valuation and recent price appreciation to Rs.386.
Summary
National Aluminium Company Ltd’s ascent to a new 52-week high of Rs.386 marks a significant achievement reflecting strong financial performance, sectoral tailwinds, and sustained investor confidence. The stock’s outperformance relative to the Sensex and its sector peers, coupled with robust profitability and cash flow metrics, highlight the company’s solid market position and operational strength. Trading above all key moving averages and supported by a high Mojo Score and institutional holdings, the stock’s momentum remains firmly intact as it sets new benchmarks in its price history.
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