NALCO Q3 Results Review - Lower Input Costs Drive All Round Beat: Axis 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..Axis Securities Report.National Aluminium Company Ltd.'s reported a strong set of numbers with Revenue/Ebitda/profit after tax beating ours and consensus estimates. Revenue at Rs 3,347 crore grew by 2%/10% YoY/QoQ (3% beat versus. our estimate).Ebitda stood at Rs 773 crore (up 68%/95% YoY/QoQ) a 39% and 59% beat against our and consensus led by lower raw material (down 26%/10% YoY/QoQ), power and fuel (down 23%/19% YoY/QoQ) and employee expenses (down 6%/3% YoY/QoQ).National Aluminium Company has declared its 2 nd interim dividend of Rs 2/share, bringing the total interim dividend to Rs 3/share for FY24. The record date for the 2nd Interim dividend is fixed at February 23rd 2024..Valuation And Recommendation:We value the company at 7.0 times FY26E Ebitda (from 4.5 times FY25E) and 0.5 times book value of capital works-in-progress (unchanged).The target price at Rs 160/share implies an upside of 13% from the current market price. We revise our rating from 'Hold' to 'Buy' on the stock..Click on the attachment to read the full report:.PM Modi In UAE: Burj Khalifa Lit Up With Indian Tricolour Ahead Of PM's Address At World Governments Summit.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.

NALCO Q3 Results Review - Lower Input Costs Drive All Round Beat: Axis Securities

Capex overrun towards the 5th stream of the Alumina refinery remains the key risk for the core business.

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NALCO Q3 Results Review - Lower Input Costs Drive All Round Beat: Axis Securities

Capex overrun towards the 5th stream of the Alumina refinery remains the key risk for the core business.

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