NMDC Ltd

₹ 140 -2.44%
Jan 21 - close price
About

NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power.(Source : 202003 Annual Report Page No:119)

Key Points

A Navratna company[1]
National Mineral Development Corporation (NMDC) was established in the year 1958 as a fully owned government company under the administrative control of the Ministry of steel and is one of the most profitable ones among the Navratna companies.

  • Market Cap 40,955 Cr.
  • Current Price 140
  • High / Low 213 / 104
  • Stock P/E 3.91
  • Book Value 120
  • Dividend Yield 6.45 %
  • ROCE 29.7 %
  • ROE 21.8 %
  • Face Value 1.00

Pros

  • Company is almost debt free.
  • Stock is trading at 1.16 times its book value
  • Stock is providing a good dividend yield of 6.45%.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 39.22%

Cons

  • Promoter holding has decreased over last 3 years: -11.64%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021
3,649 3,643 3,264 2,242 3,006 3,187 1,938 2,230 4,355 6,848 6,512 6,794
1,495 1,551 1,397 1,182 1,415 1,696 1,183 1,200 1,587 2,605 2,335 3,679
Operating Profit 2,154 2,092 1,867 1,060 1,591 1,492 754 1,030 2,768 4,242 4,178 3,114
OPM % 59% 57% 57% 47% 53% 47% 39% 46% 64% 62% 64% 46%
Other Income 136 196 123 128 130 37 72 88 105 87 144 89
Interest 10 10 12 10 10 -21 9 2 2 4 3 2
Depreciation 69 80 65 98 65 67 57 53 60 57 55 60
Profit before tax 2,211 2,198 1,913 1,080 1,647 1,482 760 1,063 2,811 4,268 4,263 3,142
Tax % 29% 34% 38% 35% 16% 76% 30% 27% 25% 34% 25% 25%
Net Profit 1,577 1,454 1,179 703 1,376 351 533 774 2,109 2,838 3,193 2,341
EPS in Rs 4.98 4.75 3.85 2.30 4.50 1.15 1.74 2.53 6.89 9.68 10.89 7.99

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
6,239 11,369 11,262 10,704 12,058 12,356 6,456 8,828 11,615 12,153 11,699 15,370 24,508
1,822 2,725 2,336 3,331 4,333 4,580 3,762 5,226 5,806 5,223 5,689 6,573 10,206
Operating Profit 4,417 8,644 8,926 7,373 7,725 7,776 2,694 3,602 5,809 6,930 6,010 8,797 14,302
OPM % 71% 76% 79% 69% 64% 63% 42% 41% 50% 57% 51% 57% 58%
Other Income 863 1,203 1,965 2,242 2,187 2,154 1,681 908 664 588 417 349 424
Interest 0 2 1 13 2 0 66 21 37 40 10 17 10
Depreciation 73 120 130 139 150 162 217 196 256 279 294 228 232
Profit before tax 5,207 9,726 10,760 9,464 9,760 9,768 4,092 4,293 6,179 7,199 6,123 8,902 14,484
Tax % 34% 33% 32% 33% 34% 34% 34% 40% 38% 36% 41% 30%
Net Profit 3,447 6,499 7,265 6,342 6,420 6,422 2,712 2,589 3,806 4,642 3,610 6,253 10,480
EPS in Rs 8.69 16.39 18.33 16.00 16.19 16.20 6.84 8.18 12.03 15.16 11.79 21.34 35.45
Dividend Payout % 20% 20% 25% 44% 52% 53% 161% 63% 36% 36% 45% 36%
Compounded Sales Growth
10 Years: 3%
5 Years: 19%
3 Years: 10%
TTM: 137%
Compounded Profit Growth
10 Years: 0%
5 Years: 17%
3 Years: 19%
TTM: 243%
Stock Price CAGR
10 Years: -2%
5 Years: 0%
3 Years: 16%
1 Year: 19%
Return on Equity
10 Years: 19%
5 Years: 16%
3 Years: 18%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Sep 2021
396 396 396 396 396 396 396 316 316 306 306 293 293
Reserves 13,876 18,818 24,010 27,114 29,592 31,935 28,721 22,203 24,037 25,645 27,228 29,463 34,974
Borrowings 0 0 0 0 0 0 1,497 0 500 364 566 1,994 974
1,433 1,884 2,242 3,271 1,489 2,138 2,057 3,183 3,755 3,466 3,044 5,034 6,031
Total Liabilities 15,705 21,098 26,648 30,782 31,477 34,470 32,671 25,702 28,609 29,782 31,144 36,785 42,272
787 1,099 1,189 1,265 1,362 1,334 1,918 1,953 2,672 2,721 3,017 3,118 3,141
CWIP 561 568 1,494 3,236 5,277 7,710 9,723 11,831 12,520 13,792 15,501 17,128 17,671
Investments 76 136 248 250 250 562 695 727 786 939 986 985 1,538
14,280 19,295 23,718 26,031 24,587 24,864 20,335 11,191 12,631 12,330 11,640 15,553 19,922
Total Assets 15,705 21,098 26,648 30,782 31,477 34,470 32,671 25,702 28,609 29,782 31,144 36,785 42,272

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
3,604 4,862 4,595 3,087 3,721 4,007 1,862 2,133 3,381 3,952 2,053 7,331
407 -4,362 -737 669 3,455 -530 4,276 5,152 -1,869 -739 -277 -4,392
-895 -994 -1,912 -2,548 -5,801 -3,449 -6,291 -7,249 -1,557 -3,201 -1,753 -2,591
Net Cash Flow 3,115 -495 1,945 1,208 1,375 28 -154 36 -44 12 23 348

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 25 16 24 37 44 52 45 43 46 43 69 51
Inventory Days
Days Payable
Cash Conversion Cycle 25 16 24 37 44 52 45 43 46 43 69 51
Working Capital Days 4 4 27 45 117 102 130 4 11 20 71 16
ROCE % 40% 58% 50% 36% 34% 32% 14% 16% 26% 28% 23% 30%

Shareholding Pattern

Numbers in percentages

Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021
72.28 72.28 72.28 72.28 69.65 69.65 69.65 69.65 68.29 68.29 60.79 60.79
3.94 4.81 5.29 5.98 6.03 5.35 4.45 4.46 4.63 4.95 6.83 5.32
18.84 18.03 17.76 17.62 19.96 20.33 20.44 20.42 20.67 19.99 21.85 21.84
0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.10 0.00 0.00 0.00
4.85 4.78 4.58 4.03 4.27 4.58 5.36 5.37 6.31 6.77 10.53 12.05

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