National Aluminium Company Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NATIONALUM, BSE:532234 National Aluminium Company Ltd.

National Aluminium Company Ltd.

09 Feb 2022

213.23

-0.01%

Result disappoints, but LME to remain firm

Buy: National Aluminium Company...

Target

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...

Number of FII/FPI investors decreased from 394 to 379 in Jun 2025 qtr

National Aluminium Company Ltd.

08 Aug 2021

213.23

-0.01%

Higher costs lead to EBITDA miss

Buy: National Aluminium Company...

Target

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...

National Aluminium C.. has an average target of 236.00 from 4 brokers.

National Aluminium Company Ltd.

28 Jun 2021

213.23

-0.01%

Beneficiary of higher aluminum prices

Buy: National Aluminium Company...

Target

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...

National Aluminium Company Ltd. is trading above all available SMAs

National Aluminium Company Ltd.

14 Feb 2021

213.23

-0.01%

Hi gher LME prices boost profitability

Buy: National Aluminium Company...

Target

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....

National Aluminium Company Ltd. is trading above all available SMAs

National Aluminium Company Ltd.

12 Nov 2020

213.23

-0.01%

LME recovery and lower costs to improve profitability

Buy: National Aluminium Company...

Target

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....

National Aluminium Company Ltd. is trading above all available SMAs

National Aluminium Company Ltd.

05 Sep 2020

213.23

-0.01%

LME recovery and lower costs to improve profitability

Buy: National Aluminium Company...

Target

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. is trading above all available SMAs

National Aluminium Company Ltd.

28 Jun 2020

213.23

-0.01%

Lower input costs to support profitability

Buy: National Aluminium Company...

Target

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.

National Aluminium Company Ltd. is trading above all available SMAs

National Aluminium Company Ltd.

18 Nov 2019, 12:00AM

213.23

-0.01%

National Aluminum (NALCO) reported a very weak set of Q2FY20 results, driven by weak comm...

Sell: National Aluminium Company...

Recommendation Target

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 decreased from 394 to 379 in Jun 2025 qtr

National Aluminium Company Ltd.

13 Aug 2019

213.23

-0.01%

Higher cost and lower realization impact performance

Buy: National Aluminium Company...

Target

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...

Number of FII/FPI investors decreased from 394 to 379 in Jun 2025 qtr

National Aluminium Company Ltd.

31 May 2019

213.23

-0.01%

Robust quarter on lower costs, strong volumes

Buy: National Aluminium Company...

Target

Motilal Oswal

Robust quarter on lower costs, strong volumes Cutting estimates to factor in alumina/LME price decline; Maintain Buy EBITDA of INR5.2b (-10% QoQ) was 42% ahead of our estimate due to (a) lower power & fuel costs (-22% QoQ) and (b) higher alumina volumes (we assume to have come in at 380kt). The sequential decline in EBITDA can be attributed to lower...

National Aluminium C.. has an average target of 236.00 from 4 brokers.

Is National Aluminium Company Ltd. worth buying?

1656 Votes:

Buy 81.16%

Sell 10.21%

Hold 8.64%

RESEARCH REPORTS

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Buy SEE REPORTS >

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