NMDC Ltd. share price target

Higher capex by the company would indeed support its production off take. Indian Steel Ministry intends to raise India's steel production to 300 mtpa by FY25 on the back of long term growth prospects of the economy which in turn would benefit the iron ore industry. The long term outlook of Indian steel industry looks promising as the sector enjoys competitive advantages due to the impetus being given by the government to infrastructure growth, urbanization and rising incomes. Low per capita steel...

NMDC reported a strong Q1FY18 performance. The healthy performance was marked by higher-than-expected iron ore realisations and lower-than-expected-cost NMDC reported a sales volume of 9.18 million tonne (MT). The topline for the quarter came in at | 2841.5 crore, up 65.1% YoY. Blended iron ore realisations were at | 3060/tonne, up 40.2% YoY On the back of healthy iron ore realisations and lower overall cost, for the quarter, the company reported a healthy EBITDA of | 1494.9 crore,...

Revenue increased by 14.96% to Rs. 2871.32 Cr in Q4FY17 when compared to the previous quarter

ICICI Securities Ltd | Retail Equity Research NMDC reported a subdued set of Q4FY17 numbers. The topline came in above our estimate but adjusted EBITDA and adjusted PAT were below our estimates. The company reported a net income from operations of | 2871.7 crore, up 88% YoY, 15% QoQ and above our estimate of | 2689.4 crore. Iron ore sales volume of 9.8 million tonnes (MT) was below our estimate of 10.0 MT. NMDC's blended realisation...

Revenue increased by 43.63% to Rs. 2497.86 Cr in Q3FY17 when compared to the previous quarter. Also, it increased by 64.61% when compared with Q3FY16.

NMDC reported a healthy set of Q3FY17 numbers wherein topline, adjusted EBITDA and adjusted PAT came in above our estimates. The company reported a net income from operations of | 2497.9 crore, up 44% QoQ, 65% YoY and above our estimate of | 2242.7 crore. Iron ore sales volume of 9.8 million tonnes (MT) came in line with our estimate of 9.8 MT. NMDC's blended realisation came in at | 2519/tonne, up 19% QoQ, 22% YoY vs. our estimate of | 2261/tonne NMDC reported an EBITDA of | 1026.6 crore. However, there were a...

For Q2FY17, NMDC reported healthy sales volume numbers. For the quarter under review iron ore sales volume stood at 8.1 Million tonnes (MT), higher by 24.6% YoY and 3.8% QoQ....

NMDCs numbers were ahead of our estimates, driven by realisations (Rs 2,117, -12.9% YoY, -3.4% QoQ), likely led by higher premiums NMDC charges in Karnataka. EBITDA/t at Rs 1,025 (-26.6% YoY, -2.5% QoQ) was ahead of estimates driven by better realisations.

Price hike, buyback, non-core biz exits to drive re-rating; upgrading to Buy NMDC's earnings outlook has improved significantly after the adoption of differential regional pricing, improved viability of exports and a sharp pick-up in pellets exports /coking coal prices/sponge iron prices in India. Dispatches and margins are already improving. We expect a price hike in October. Efficiencies in capital allocation too are improving due to its high dividend payout, large buyback and intention to exit non-core businesses (e.g. steel plant project), which will drive re-rating of the stock. We raise our EPS estimate by 50% to INR9 for FY17 and by 106% to INR8.3 for FY18. We also remove...

NMDCs numbers continue to slide and miss expectations. Reported EBITDA (Rs 5.4bn, -62.0% YoY, -16.2% QoQ) was below estimates on account of lower pricing and higher other expenses. The company will bear the District Mineral Foundation (DMF) and National Mineral Exploration Trust?s (NMET) expenses (30% and 2% of royalties).