1. MARKETS
  2. SECTOR : METALS & MINING
  3. INDUSTRY : ALUMINIUM AND ALUMINIUM PRODUCTS

National Aluminium Company Ltd.

NSE: NATIONALUM | BSE: 532234

Strong Performer, Under Radar

Check Buy or Sell

93.50 -4.20 (-4.30%)

29.54% Fall from 52W High

10.0M NSE+BSE Volume

NSE May 19, 2022 11:24 AM

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Share
13S
4W
12O
1T
17,172.5

Market Cap

High in industry
6

TTM PE Ratio

Below industry Median
1.6

Price to Book Ratio

Above industry Median
1.4

Beta 1Year

Very High Volatility
56.9

Revenue Growth (TTM)

Below industry Median


National Aluminium Company Ltd.    
23 Feb 2022
93.50
-4.30%
buy
by Axis Direct
Target: 150 | Upside : 60.4%
Axis Direct
We initiate coverage with a BUY rating and value the company at 5.5x FY24 EBITDA and 0.5x book value of CWIP to arrive at the target price of Rs 150/share, implying an upside potential of 28% from the current levels
default
National Aluminium C.. has an average target of 137.50 from 2 brokers.
National Aluminium Company Ltd.    
09 Feb 2022
93.50
-4.30%
buy
by Motilal Oswal
Target: 125 | Target met
Motilal Oswal
Nalco's 3QFY22 EBITDA grew 174% YoY and 6% QoQ driven by massive 44% YoY jump in LME aluminum prices. Similarly, Alumina recorded a sharp growth of 49% YoY and 32% QoQ, driving the topline. EBITDA and...
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National Aluminium C.. has an average target of 137.50 from 2 brokers.
National Aluminium Company Ltd.    
08 Aug 2021
93.50
-4.30%
buy
by Motilal Oswal
Target: 107 | Target met
Motilal Oswal
INR24.7b/INR5.8b/INR3.5b and was 15%/34%/38% below our estimate. Sequentially, the decline was led by lower volumes and higher costs (on a lower base due to one-offs), partly offset by higher LME prices. The miss on EBITDA was led by lower than expected aluminum volumes (91kt, 9% lower than our estimate), lower than expected realizations, and...
Number of FII/FPI investors increased from 267 to 332 in Mar 2022 qtr.
National Aluminium Company Ltd.    
28 Jun 2021
93.50
-4.30%
buy
by Motilal Oswal
Target: 93 | Target met
Motilal Oswal
Revenue / EBITDA / Adj. PAT was up 19%/118%/162% QoQ to INR28.2b/INR9.4b/INR6.3b (+3%/49%/63% v/s our estimate). The beat on EBITDA was led by better-than-expected costs, partly owing to the reversal of renewals purchase obligations as per the notification issued by Odisha Electricity Regulatory Commission booked under other...
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National Aluminium Company Ltd. has lost -21.89% in the last 1 Month
National Aluminium Company Ltd.    
14 Feb 2021
93.50
-4.30%
buy
by Motilal Oswal
Target: 59
Motilal Oswal
Nalco's (NACL) 3QFY21 result was strong on the back of higher LME prices. It reported an EBITDA of INR4.3b (+57% QoQ) and PAT of INR2.4b (+123% QoQ). We raise our FY21E/FY22E EPS estimate by 9%/13% to factor in a lower tax rate. We expect alumina prices to stay strong which should support strong cash flows and a good dividend payout (8% yield in FY22). Maintain Buy....
Number of FII/FPI investors increased from 267 to 332 in Mar 2022 qtr.
National Aluminium Company Ltd.    
12 Nov 2020
93.50
-4.30%
buy
by Motilal Oswal
Target: 41
Motilal Oswal
Nalco's (NACL) 2QFY21 higher-than-expected EBITDA at INR2.8b (v/s est. INR2.2b) and volumes were a surprise once again. EBITDA continues to strengthen due to LME recovery and lower input commodity costs. We raise our FY21/FY22E EBITDA estimates by 36%/28% to factor in the recovery in LME prices. Maintain Buy....
Number of FII/FPI investors increased from 267 to 332 in Mar 2022 qtr.
National Aluminium Company Ltd.    
05 Sep 2020
93.50
-4.30%
buy
by Motilal Oswal
Target: 42
Motilal Oswal
We raise our FY21 EBITDA estimate by 67% to factor recovery in LME prices, Revenue declined 34% YoY (29% QoQ) to INR13.8b on a lower LME aluminum price of USD1,493/t (-17% YoY; -12% QoQ) and lower aluminum volumes. EBITDA at INR1.3b (-38% QoQ) came in above our estimate of INR81m despite lower-than-expected volumes. Reported EBITDA still declined 40% YoY on lower alumina and It reported positive EBIT at INR470m after four quarters (v/s INR3m loss last year); revenue declined to INR9.3b (-37% YoY; -18% QoQ) on lower LME prices/volumes due to the impact of COVID-19. Aluminum LME prices have recovered to pre-COVID levels and turned positive YoY. We expect NACL to benefit from lower coal prices due to improved coal availability in India and lower input commodity costs such as furnace oil, etc. We maintain our positive stance on NACL considering its integrated business model, high cash levels, and attractive dividend yield.
National Aluminium Company Ltd. has lost -21.89% in the last 1 Month
National Aluminium Company Ltd.    
28 Jun 2020
93.50
-4.30%
buy
by Motilal Oswal
Target: 40
Motilal Oswal
NACL reported an improved 4QFY20 result, as expected, driven by lower cost of production. We raise our FY21 EBITDA estimate to factor lower input costs in FY21. Revenue declined 30% YoY (-7% QoQ) to INR19.4b on a lower LME aluminum price of USD1,694/t (-9% YoY, -3% QoQ). EBITDA at INR2.1b (+507% QoQ) came in above our estimate of INR1.2b, led by lower-than-expected production costs. Reported EBITDA still declined 60% YoY due to lower alumina and aluminum prices. EBIT loss was at INR0.2b (v/s INR1.9b profit last year); revenue declined to INR11.3b (-34% YoY, -15% QoQ) on lower LME prices/volumes due to the impact of COVID-19. Realization declined 8% YoY (and 3% QoQ) to USD1,905/t on account of lower LME and premiums. As a result, Operating Cashflows (OCF) were negative at INR3.5b. With estimated gradual recovery in aluminum demand, we expect prices to rise further.
Number of FII/FPI investors increased from 267 to 332 in Mar 2022 qtr.
National Aluminium Company Ltd.    
18 Nov 2019, 12:00AM
93.50
-4.30%
buy
by Emkay
Target: 37
Emkay
Extended monsoons have also disrupted coal supplies in Q3. Hence, operationally Q3 should be weak. In addition, plans to diversify into unrelated minerals outside India at a peak of euphoria for Lithium and Cobalt could be value-dilutive, in our view. We revise FY20E EBITDA/PAT by 62%/66%, factoring in dismal Q2 results and also cut FY21/22E EBITDA by 24%/3% factoring in lower profitability. We value the stock at 4.5x Sep-21E EV/EBITDA. Downgrade NALCO to Sell with a TP of Rs37 (43 earlier) with UW stance in EAP. Key risk is higher alumina prices. Despite higher sales in Q2FY20, EBIT was significantly down, indicating that the company...
Number of FII/FPI investors increased from 267 to 332 in Mar 2022 qtr.
National Aluminium Company Ltd.    
13 Aug 2019
93.50
-4.30%
buy
by Motilal Oswal
Target: 50
Motilal Oswal
Higher cost and lower realization impact performance Cutting estimates to factor in alumina/LME price decline EBITDA of INR2.1b (-59% QoQ) came in below our estimate of INR4.3b owing to higher aluminum cost of production, lower-than-expected aluminum volumes and likely lower alumina volumes. The sequential decline in EBITDA can be attributed to...
National Aluminium Company Ltd. is trading below all available SMAs