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.
The companys top management includes Mr.Alok Kumar Mehta, Mr.Amitava Mukherjee, Mr.Ashok Kumar Angurana, Mr.D Kuppuramu, Mr.N Baijendra 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 achievable, it said.
FY21 volume can increase by 15-20% on increased evacuation facilities at Chhattisgarh and increased limit from Kumarswamy mines.