Metals, Mining Q1 Results Preview - Muted Quarter Affected By Weak NSR: Prabhudas Lilladher

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..Prabhudas Lilladher Report.We expect our metals coverage universe to report mixed performance in Q1 FY25 with revenue/Ebitda/profit after tax growth of -2%/3%/6% QoQ (2%/11%/7% YoY) impacted by muted demand and weak steel prices. Domestic demand remained muted (3-5% YoY) during the quarter affected by infrastructure slowdown amidst general elections. Average net sales realisation for domestic steel companies improved 1-2% QoQ mainly aided by long products (TMT). Flat steel prices declined by Rs 500-700/tonne QoQ affected by weak global pricing, while long product prices have improved 8-9% from March levels. Further, coking coal prices have declined sharply (-22%) QoQ, which is expected to benefit steel players from Q2 FY25. Domestic steel pricing scenario is expected to remain sluggish during monsoon and amid the impending Union budget. Imports have reduced since Jan; however, higher Chinese supply poses a threat to global pricing. Base metal prices have increased sharp 10- 15% QoQ during Q1 post LME banning Russian supplies, which is expected to benefit non-ferrous companies in FY25. Key monitorables to watch out are:Government of India’s stand on rising imports,sustenance of HRC/ coking coal prices,progress on capex anddemand indicators from China and developed countries..Our top pick is Hindalco Industries..Click on the attachment to read the full report:.IT Services Q1 Results Preview - Infosys Likely To Lead Revenue Growth: 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.

Metals, Mining Q1 Results Preview - Muted Quarter Affected By Weak NSR: Prabhudas Lilladher

Steel companies having higher longs exposure are expected to benefit from higher pricing during Q1 FY25

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Metals, Mining Q1 Results Preview - Muted Quarter Affected By Weak NSR: Prabhudas Lilladher

Steel companies having higher longs exposure are expected to benefit from higher pricing during Q1 FY25

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