NMDC Ltd. share price target

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).

The company reported a net income from operations of | 1530.0 crore, up 0.8% QoQ, down 45.9% YoY and below our estimate of | 1757.2 crore. The company's iron ore sales volume of 8.6 million...

ICICI Securities Ltd | Retail Equity Research On the back of strength in global iron ore prices, with effect from March 11, 2016, NMDC has hiked prices of lumps, fines by | 150/tonne each....