Company Update : NMDC Ltd By Motilal Oswal Financial Services Ltd
In-line performance; strong volume, healthy NSR drive earnings
* Revenue grew 21% YoY (33% QoQ) to INR66b in 3QFY25, in line with our estimate. Revenue growth was primarily driven by strong volumes and NSR growth.
* Iron ore production stood at 13.3mt (+9% YoY/+61% QoQ), while sales stood at 12.5mt (+10% YoY/+26% QoQ) during the quarter.
* ASP for the quarter stood at INR5,250/t (YoY/QoQ: +11%/+6%) and was in-line with our estimate.
* EBITDA stood at INR23.7b (+18% YoY/+71% QoQ), in line with our estimate of INR22.4b. NMDC reported EBITDA/t of INR1,896/t (+8% YoY/+36% QoQ).
* APAT was INR19b (+13% YoY/+59% QoQ) against our estimate of INR18b.
* For 9MFY25, the company reported revenue of INR169b (+14% YoY), EBITDA of INR61b (+17% YoY) and adj. PAT of INR51b (+16% YoY).
* For 9MFY25, iron ore production stood at 30.8mt (-3% YoY) and sales volume at 32.5mt (+2% YoY).
* For 9MFY25, average blended NSR stood at INR5,196/t, up 12% YoY. EBITDA/t grew 15% YoY to INR1875/t.
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
