Hindalco, NALCO, Coal India, JSW Steel, Among Systematix' Top Stock Picks In Metals, Mining After Q3 Results

Mining companies under the brokerage's coverage, NMDC, MOIL, and Coal India (Buy) also posted better offtake in Q3 (+2% YoY, +16% QoQ) as they continued to supply key raw material for steel and power sectors..NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Systematix Research Report.Our coverage companies posted mixed earnings this quarter, broadly aligning with our expectations. Lower steel prices weighed on absolute topline and profitability in Q3, however, operating leverage, disciplined cost control, and robust domestic demand helped partially mitigate this impact, thereby preventing a larger margin decline. JSW Steel (Buy), Tata Steel (Buy), and SAIL (Hold) reported a combined sales volume of 18.78 mt during the quarter, registering 11%/6% YoY/QoQ growth, however, Ebitda margins contracted by 162 bps YoY and 95 bps QoQ. The steel pipes and tubes segment continued to benefit from industry tailwinds with rising infrastructure and energy projects helping sustain volumes even as margin pressure persisted for players like APL Apollo Tubes due to aggressive discounting strategies while Jindal Saw posted resilient margins strengthened by its diversified product portfolio. Mining companies under our coverage, NMDC, MOIL, and Coal India (Buy) also posted better offtake in Q3 (+2% YoY, +16% QoQ) as they continued to supply key raw material for steel and power sectors. Non-ferrous companies posted marginally higher volumes but benefited significantly from input cost efficiency, and high commodity prices translating to a 400 bps/129 bps (YoY/QoQ) Ebitda margin expansion. Overall, every company in our coverage faces its unique challenges, from regulatory uncertainties to commodity price volatility. However, a select few have implemented effective measures to mitigate these risks, offering attractive multiples supported by resilient cash flows and strong balance sheets. Our pecking order of top picks under our coverage are Jindal Saw Ltd., National Aluminium Company Ltd., Hindalco Industries Ltd., Coal India, and JSW Steel..Click on the attachment to read the full report:.Vardhman Textiles, Gokaldas Exports Among Systematix' Top Stock Picks To 'Buy' In Textile Pack — Here's Why.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Hindalco, NALCO, Coal India, JSW Steel, Among Systematix' Top Stock Picks In Metals, Mining After Q3 Results

Metals, Mining Q3 Results Review: Systemaitx' pecking order of top picks under its coverage are Jindal Saw, NALCO, Hindalco, Coal India and JSW Steel, Here's why

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Hindalco, NALCO, Coal India, JSW Steel, Among Systematix' Top Stock Picks In Metals, Mining After Q3 Results

Metals, Mining Q3 Results Review: Systemaitx' pecking order of top picks under its coverage are Jindal Saw, NALCO, Hindalco, Coal India and JSW Steel, Here's why

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