INSUBCONTINENT EXCLUSIVE:
PhillipCapital has maintained buy rating on NMDC in the long term with a target price of Rs 151
Shares of NMDC ended down 0.5% at Rs 128.35 on Wednesday while the BSE Sensex closed 52.28 points up at 41,306.02.
Company FinancialsFor the
quarter ended 30-09-2019, the company has reported consolidated sales of Rs 2241.76 crore, down -31.31% from last quarter sales of Rs
3263.74 crore and down -8.05% from last year same quarter sales of Rs 2437.92 crore
The company has reported net profit after tax of Rs 701.54 crore in the latest quarter
Kumar, Mr.P K Satpathy, Mr.Saraswati Prasad, Mr.Sumit Deb, Mrs.Rasika Chaube
Company has Tej Raj - Pal as its auditors
As on 30-09-2019, the company has a total of 3,061,849,659 shares outstanding
Investment RationaleNMDC is confident of executing sales volumes of 32 million tonnes in FY20, said Phillip Capital
Since the company has already sold 20 million tonnes till November, it has to execute 11 million tonnes in the last four months, which is
FY21 volume can increase by 15-20% on increased evacuation facilities at Chhattisgarh and increased limit from Kumarswamy mines.