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Motilal Oswal Report
NMDC Ltd.'s Q2 FY21 Ebitda declined 7% YoY to Rs 10.3 billion as lower iron ore prices offset the benefit of 14% YoY volume growth.
Outlook for H2 FY21, however, is strong as currently prices are approximately 30% higher (or approximately Rs 800/tonne) than Q2 FY21 average, which should drive significantly higher profitability.
The government's proposal to levy an additional premium on the company's renewed mining leases, however, has emerged as a key overhang.
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