|
22 Mar 2025 |
National Aluminium
|
Consensus Share Price Target
|
185.52 |
227.90 |
- |
22.84 |
buy
|
|
|
|
|
12 Feb 2025
|
National Aluminium
|
Axis Direct
|
185.52
|
220.00
|
189.68
(-2.19%)
|
18.59 |
Buy
|
|
|
We maintain our BUY rating.
|
|
12 Feb 2025
|
National Aluminium
|
Prabhudas Lilladhar
|
185.52
|
205.00
|
189.68
(-2.19%)
|
10.50 |
Accumulate
|
|
|
|
|
11 Feb 2025
|
National Aluminium
|
Emkay
|
185.52
|
275.00
|
183.31
(1.21%)
|
48.23 |
Buy
|
|
|
Nalco posted a solid quarterly performance given EBITDA of Rs23.3bn (+21.1% vs Consensus; +26.1% vs Emkay; +50.3% QoQ), with the earnings beat led by higher alumina export volumes, while benefitting from elevated alumina prices.
|
|
14 Nov 2024
|
National Aluminium
|
Axis Direct
|
185.52
|
250.00
|
219.87
(-15.62%)
|
Target met |
Buy
|
|
|
We upgrade from HOLD to BUY.
|
|
14 Nov 2024
|
National Aluminium
|
Prabhudas Lilladhar
|
185.52
|
201.00
|
219.87
(-15.62%)
|
Target met |
Sell
|
|
|
|
|
14 Aug 2024
|
National Aluminium
|
ICICI Securities Limited
|
185.52
|
145.00
|
165.09
(12.38%)
|
21.84 |
Sell
|
|
|
National Aluminium Company’s (NALCO) EBITDA was significantly lower than our/consensus estimates. We estimate Alumina sales to be down 56% YoY while Aluminium sales to be down 11% YoY.
|
|
13 Aug 2024
|
National Aluminium
|
Axis Direct
|
185.52
|
180.00
|
169.88
(9.21%)
|
Target met |
Hold
|
|
|
We downgrade to HOLD from BUY.
|
|
12 Aug 2024
|
National Aluminium
|
Motilal Oswal
|
185.52
|
185.00
|
174.21
(6.49%)
|
Target met |
Neutral
|
|
|
Nalco (NACL)’s revenue stood at INR29b in 1QFY25 (-10% YoY/-20% QoQ vs. our est. of INR39b). The miss was mainly due to the weak operational performance in the chemical business.
|
|
09 Jul 2024
|
National Aluminium
|
SBI Securities
|
185.52
|
234.60
|
203.93
(-9.03%)
|
Target met |
Buy
|
|
|
|
|
28 May 2024
|
National Aluminium
|
Axis Direct
|
185.52
|
215.00
|
191.40
(-3.07%)
|
Target met |
Buy
|
|
|
We maintain BUY on the stock
|
|
27 May 2024
|
National Aluminium
|
Motilal Oswal
|
185.52
|
180.00
|
194.35
(-4.54%)
|
Target met |
Neutral
|
|
|
NACL consolidated revenue stood at INR36b (YoY/QoQ: -3%/+7%) against our estimate of INR39b. Consolidated EBITDA stood at INR11b (YoY/QoQ: +45% /+43%) and was higher than our est of INR8.4b. Consol EBITDA margin stood at 30.9% in 4QFY24 (20.9% in 4QFY23 and 23.1% in 3QFY24).
|
|
14 Feb 2024
|
National Aluminium
|
Axis Direct
|
185.52
|
160.00
|
155.90
(19.00%)
|
Target met |
Buy
|
|
|
Recommendation: We revise the stock from HOLD to BUY.
|
|
04 Feb 2024
|
National Aluminium
|
BP Wealth
|
185.52
|
175.00
|
153.00
(21.25%)
|
Target met |
Buy
|
|
|
|
|
10 Nov 2023
|
National Aluminium
|
Axis Direct
|
185.52
|
83.00
|
91.30
(103.20%)
|
|
Hold
|
|
|
We maintain our HOLD rating on the stock.
|
|
22 Sep 2023
|
National Aluminium
|
Motilal Oswal
|
185.52
|
95.00
|
93.50
(98.42%)
|
Target met |
Neutral
|
|
|
|
|
14 Aug 2023
|
National Aluminium
|
Axis Direct
|
185.52
|
95.00
|
90.65
(104.66%)
|
Target met |
Hold
|
|
|
Recommendation: After an 18% rally since the last quarter, we see a limited upside from here on. Our TP offers a 1% upside from the CMP hence we revise our rating from BUY to HOLD.
|
|
13 Aug 2023
|
National Aluminium
|
ICICI Securities Limited
|
185.52
|
94.00
|
94.30
(96.73%)
|
Target met |
Hold
|
|
|
NALCO’s Q1FY24 EBITDA at INR 5.9bn missed our estimate by 9%. Key points: 1) Aluminium (Al) volume was down 7% YoY, flat QoQ at 117.1kt; 2) EBIT of both chemicals and aluminium divisions was down owing to lower realisation; 3) power & fuel cost rose 4% YoY despite commencement of captive mining at Utkal D block; and 4) Board recommended final dividend of INR1/share for FY23.
|
|
25 May 2023
|
National Aluminium
|
ICICI Securities Limited
|
185.52
|
86.00
|
80.65
(130.03%)
|
Target met |
Accumulate
|
|
|
NALCO’s Q4FY23 EBITDA of Rs7.7bn (down 53% YoY, up 64.6% QoQ) was significantly ahead of consensus and our estimates of Rs5.4bn primarily on lower than expected power and fuel cost.
|
|
25 May 2023
|
National Aluminium
|
Axis Direct
|
185.52
|
90.00
|
80.55
(130.32%)
|
Target met |
Buy
|
|
|
Recommendation: We revise our EBITDA estimates upwards on lower coal costs, our TP of Rs 90/share implies a 12% upside from the CMP and we upgrade NALCO from HOLD to BUY.
|
|
24 May 2023
|
National Aluminium
|
Motilal Oswal
|
185.52
|
90.00
|
80.65
(130.03%)
|
Target met |
Neutral
|
|
|
|