Nalco Q3 Results Review - Revenue In Line; Strong Earnings Beat: Motilal Oswal

Motilal Oswal Report

National Aluminium Company Ltd.’s revenue for Q3 FY24 increased 2% YoY to Rs 33.5 billion, in line with our estimate of Rs 32.5 billion.

Ebitda jumped 68% YoY to Rs 7.7 billion, which was 62% above our estimate of Rs 4.8 billion. The strong beat was driven by better operating performance in the aluminum business.

Adjusted profit after tax surged 84% YoY to Rs 4.7 billion, which was a strong beat to our estimate of Rs 2.4 billion. The beat was driven by the strong operating performance and lower depreciation, partially offset by a higher tax outgo.

nine months FY24 revenue stood at Rs 96 billion (down 9% YoY), Ebitda stood at Rs 17 billion (up 6% YoY), and APAT stood at Rs 10 billion (up 6% YoY).

The board announced a second interim dividend of Rs 2/share.

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