NLC India board approves external commercial borrowing of up to $200 million

State-owned NLC India Ltd on Monday (March 10) said it has received in-principle approval from its board of directors to raise external commercial borrowings (ECB) equivalent to $200 million in Japanese Yen, with an additional green shoe option. The decision was made during the board meeting held on March 10, 2025.”…we write to inform that the Board of Directors of the Company at their meeting held on Monday, 10th March, 2025, have inter-alia considered and in-principally approved the borrowing of External Commercial Borrowing within overall ceiling of Japanese Yen equivalent to USD200 Million with equivalent green shoe option,” NLC India said in a regulatory filing.

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NLC India reported a net profit of ₹250.4 crore for the third quarter that ended December 31, 2023. In the corresponding quarter last year, NLC India posted a net loss of ₹406.7 crore, the company said in a regulatory filing. The company’s revenue from operations dipped 14% to ₹3,164.4 crore against ₹3,679 crore in the corresponding period of the preceding fiscal year.At the operating level, EBITDA tanked 33.5% to ₹904.7 crore in the third quarter of this fiscal year from ₹1,359.7 crore in the corresponding period in the previous fiscal year. The EBITDA margin stood at 28.6% in the reporting quarter versus 37% in the corresponding period in the previous fiscal year. EBITDA is earnings before interest, tax, depreciation, and amortisation.

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Shares of NLC India Ltd ended at ₹217.80, down by ₹7.15, or 3.18%, on the BSE.