NMDC Ltd.

NSE: NMDC | BSE: 526371 | ISIN: INE584A01023 |Industry: Mining
|Strong Performer, Under Radar
86.35 -3.80 (-4.22%)
NSE Aug 21, 2019 15:31
Volume: 22.2M
High vol.+loss this week
Durability score
85 /100
High Financial Strength
Valuation score
54.8 /100
Affordable Valuation
Momentum score
43.1 /100
Technically Neutral
Market Capitalizati...
26,439.5 Cr.
Market Leader
AVG Broker Target
118.8
37.52% upside
PE TTM Price to Ear...
5.5
Above industry median.
NMDC Ltd.    
16 Aug 2019
86.35
-4.22%
buy
Sell: NMDC Ltd.
by Prabhudas Lilladhar
Target: 107 | Upside : -23.9%
Prabhudas Lilladhar
NMDC reported Q1FY20 earnings in line with our estimates. The sharp rise in Change in Estimates | Target | Reco iron prices aftermath collapse of Vale's Brumadinho dam in Brazil helped NMDC to post strong earnings growth in last couple of quarters. However, we...
NMDC Ltd. is trading below it's 30 day SMA of 107.14
NMDC Ltd.    
16 Aug 2019
86.35
-4.22%
buy
Hold: NMDC Ltd.
by ICICI Securities Limited
Target: 115 | Upside : 33.2%
ICICI Securities Limited
Recently, the Karnataka High Court ruled in favour of NMDC with regard to royalty issue in case of Donimalai mine. Earlier, Karnataka had levied 80% royalty on the Donimalai mine during the time of lease renewal. In this regard, NMDC had filed a writ petition in the high court against the royalty of 80% levied by the Karnataka government on average sales value of iron ore from the Donimalai mine. The writ petition has been allowed and the earlier condition to impose premium equivalent to 80% of average sale price of iron ore has been set aside. This favourable judgement augurs well for...
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NMDC Ltd. has lost -23.95% in the last 1 Month
NMDC Ltd.    
14 Aug 2019
86.35
-4.22%
buy
Buy: NMDC Ltd.
by Motilal Oswal
Target: 128 | Upside : 48.2%
Motilal Oswal
1QFY20 adj. EBITDA of INR19.3b (-4% QoQ) was in line with our estimate of INR18.9b. The sequential decline in EBITDA was due to lower volumes, partly offset by higher realizations. Adj. PAT was down 6% QoQ at INR12.8b (in-line). Production was down 20% QoQ (+21% YoY) to 8.4mt, while sales declined 15% QoQ (+28% YoY) to 8.7mt (in-line). Domestic reported realization was up INR89 QoQ to INR2,916/t on the back of price hikes (INR200-250/t in May). In case of the Donimalai mine, a new lease agreement has to be signed with...
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NMDC Ltd. has lost -17.49% in the last 1 Week
NMDC Ltd.    
19 Jul 2019
86.35
-4.22%
buy
Hold: NMDC Ltd.
by ICICI Securities Limited
Target: 125 | Upside : 44.8%
ICICI Securities Limited
Favourable high court ruling also augurs well Karnataka High Court has ruled in favour of NMDC with regard to royalty issue in case of Donimalai mine. Earlier, Karnataka had levied 80% royalty on the Donimalai mine during the time of lease renewal. In this regard, NMDC had filed a writ petition in the high court against the royalty of 80% levied by the Karnataka government on average sales value of iron ore from the Donimalai mine. The writ petition is allowed and the earlier condition to impose premium equivalent to 80% of average sale price of iron ore has...
NMDC Ltd. is trading below it's 30 day SMA of 107.14
NMDC Ltd.    
30 May 2019
86.35
-4.22%
buy
Hold: NMDC Ltd.
by ICICI Securities Limited
Target: 115 | Target met
ICICI Securities Limited
Model sales volume of 31, 32 MT for FY20, 21, respectively For FY19, NMDC reported production volume of 32.36 MT, down 9.1% YoY, while it reported sales volume of 32.36 MT, down 10.8% YoY. The volume during FY19 was impacted on account of suspension of operations at NMDC's Donimalai iron ore mine. NMDC Donimalai mine has remained shut since November 2018, on account of royalty dispute with Karnataka government. The high court verdict is awaited for the same. The outcome of this verdict remain a key monitorable. Without Donimalai mine, NMDC...
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NMDC Ltd. has lost -17.49% in the last 1 Week
NMDC Ltd.    
29 May 2019
86.35
-4.22%
buy
Buy: NMDC Ltd.
by Motilal Oswal
Target: 136 | Upside : 57.5%
Motilal Oswal
Operational decline as expected on lower realizations Donimalai mine lease resolution to drive re-rating; Maintain Buy 4QFY19 adj. EBITDA of INR20b (-12% QoQ) came in line with our estimate of INR19.6b. EBITDA is adjusted for (a) expected credit loss of INR742m, which is non-recurring and (b) INR1.65b of provision write-backs. The QoQ drop in...
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NMDC Ltd. is trading below it's 30 day SMA of 107.14
NMDC Ltd.    
04 Feb 2019
86.35
-4.22%
buy
Hold: NMDC Ltd.
by ICICI Securities Limited
Target: 90 | Target met
ICICI Securities Limited
NMDC reported a healthy set of numbers for Q3FY19 on the back of better-than-expected realisations and higher-than-expected sales volume. Hence for the quarter topline, EBITDA, PAT came in notably higher than our estimates. The company reported a sales volume of 8.7 million tonne (MT), up 7.4% YoY, 29.9% QoQ, higher than our estimate of 8.1 MT. The topline came in at | 3649.4 crore, up 47.8% YoY, 49.7% QoQ, higher than our estimate of | 3177.9 crore EBITDA margin came in at 59.0% (49.0% in Q3FY18, 51.7% in...
NMDC Ltd. has an average target of 118.75 from 4 brokers.
NMDC Ltd.    
31 Jan 2019
86.35
-4.22%
buy
Buy: NMDC Ltd.
by Motilal Oswal
Target: 111 | Target met
Motilal Oswal
31 January 2019 Adj. EBITDA increased 65% QoQ (+71% YoY) to INR22.8b in 3QFY19, 13% ahead of our estimate of INR20.2b, led by higher-than-expected realization. EBITDA is adjusted for (a) rail line doubling payment of INR528m and (b) expected credit loss of INR717m, which is non-recurring. Adj. PAT increased 63% QoQ (+76% Production increased 81% QoQ (+11% YoY) to 9.5mt, while sales grew 30% QoQ (+8% YoY) to 8.7mt, led by higher offtake from Chhattisgarh. Domestic realization increased INR550 QoQ to INR4,185/t, as against our estimate of INR3,668/t. EBITDA per ton increased 27% QoQ to INR2,618 (USD36), led by higher realization and operating leverage benefits. We raise our FY19 EPS estimate by 8% to account for the beat. Operations at the Donimalai mine remain suspended. However, we expect NMDC to eventually get its MLs renewed without sharing any revenue.
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NMDC Ltd. has lost -23.95% in the last 1 Month
NMDC Ltd.    
18 Jan 2019
86.35
-4.22%
buy
Buy: NMDC Ltd.
by Motilal Oswal
Target: 111 | Target met
Motilal Oswal
18 January 2019 Donimalai and Kumarswamy are NMDCs two mining leases (ML) in Karnataka with permitted annual production of 7mtpa each. Donimalai operations are temporarily shut pending a hearing in the High Court regarding unreasonable demand of 80% share in revenue as a condition for renewing the ML. The next court hearing is on 22 January 2019. Two MLs with total capacity of 17mtpa have already been renewed, which is half of current production. Renewal of other leases is in process. NMDC is currently shipping about 23mtpa iron ore from this complex. In the worst case if outcome in the Donimalai judgment is not favorable, NMDC will still have 17mtpa profitable capacity. Further, NMDC is confident that the Chhattisgarh government will not be as demanding as the Karnataka government. NMDC is creating a storage yard near Jagdalpur, which will debottleneck dispatches from Chhattisgarh by 4-5mt (to 28mt).
NMDC Ltd. has lost -17.49% in the last 1 Week
NMDC Ltd.    
21 Dec 2018, 12:00AM
86.35
-4.22%
buy
Sell: NMDC Ltd.
by Prabhudas Lilladhar
Target: 86 | Upside : 0.4%
Prabhudas Lilladhar
Donimalai mine. Unperturbed by the ongoing legal issue, we are rather more concerned on the i) structural risk to the domestic iron ore pricing and ii) sharp shrinkage in market share of merchant miners post auction of mines expiring by March-2020 in Odisha. Mine auctions benefit the manufacturer as it serves raw material security replacing the dependence on merchant miner at lower cost. It would act as the key enabler for capacity creation with no impact on State Govt's revenue from royalty. We downgrade NMDC to Reduce as we expect steep increase in Odisha's production (due to last year of...
NMDC Ltd. high volume past week with price loss of -17.49.