NMDC Q3 Results Review - Performance Remains Strong; More To Follow: Yes Securities

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..Yes Securities Report.NMDC Ltd.’s Q3 FY24 earnings were above the consensus estimates on the back of strong operational performance. NMDC reported its best ever Q3 performance in terms of production and sales since the company’s inception. The realisation/tonne came in at Rs 4,679/tonne, reporting a rise of Rs 534/tonne from Q2 FY24, where the same was Rs 4,145/tonne. The company incurred about Rs 1,500 crores of capex during 9M FY24 and with the current expansion phase and the upcoming aspirational plans, it seems to be on the right path for its 100.0 mt target by 2030-31. During the current financial year, NMDC expects to incur Rs 2,000 crores of capital expenditure in total and the company also maintained its production guidance of 47.0 to 49.0 mt. The capex for the current financial year focuses a lot on improving the company’s evacuating lines in order to grow simultaneously on the production and the sales side. In terms of the operational performance, the company reported an iron ore production of 31.8 mt and registered iron ore sales of 31.9 mt recording their highest ever nine-month volumes. Q3 production volumes came in at 12.22 mt, reported a rise of 38% sequentially whereas the sales volumes for the quarter jumped 19% sequentially to 11.39 mt..Click on the attachment to read the full report:.NMDC Q3 Results Review - Volume Driven Growth, Margin Expansion: Systematix.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.

NMDC Q3 Results Review - Performance Remains Strong; More To Follow: Yes Securities

In 9M FY24, the company has been performing well operationally and we expect the same to continue for the last quarter of the financial year.

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