NMDC Board Declares Dividend Of Rs 2.30 Per Share For Fiscal 2025
NMDC has fixed the record date for the dividend as March 21, according to an exchange filing on Monday.
The board of NMDC Ltd. on Monday announced its first dividend of Rs 2.30 per share at a face value of Rs 1 for the financial year 2025.
The company has fixed the record date for the dividend as March 21, according to an exchange filing on Monday.
Earlier, the Ministry of Steel appointed Amitava Mukherjee as chairperson and managing director of NMDC Ltd., effective March 6.
Mukherjee, a cost accountant and senior officer from the 1996 Indian Railway Accounts Services batch, is recognised for leading NMDC to achieve its highest-ever turnover and net worth in the company's history.
Q3 Performance
NMDC's net profit surged to Rs 1,882 crore, representing a 26.7% rise for the third quarter of the current fiscal, as compared to Rs 1,484 crore for the same period last year.
The public sector enterprise's revenue soared by 21.4% to Rs 6,567.8 crore for the quarter under review, as against Rs 5,409.9 crore for the year ago period.
Its earnings before interest, tax, depreciation and amortisation rose to Rs 2,372 crore, denoting 18.17% growth for the October-December 2024 quarter, from Rs 2,007.2 crore for the same quarter in the corresponding year.
Its margin slightly contracted to 36.11% for the quarter ended December from 37.1% in the same period of fiscal 2024.
Shares of NMDC closed 1.74% higher at Rs 64.91 apiece on the National Stock Exchange, compared to a 0.5% rise in the benchmark Nifty. The stock has fallen 3.93% in the last 12 months.
Of the 23 analysts tracking the company, 13 have a 'buy' rating on the stock, four recommend 'hold' and six suggest 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential upside of 13.4%.
