NMDC Ltd

NMDC since inception involved in the exploration of wide range of minerals including iron ore, copper, rock phosphate, lime stone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, graphite, beach sands etc. NMDC is India's single largest iron ore producer, presently producing about 30 million tonnes of iron ore from 3 fully mechanized mines viz., Bailadila Deposit-14/11C, Bailadila Deposit-5, 10/11A (Chhattisgarh State) and Donimalai Iron Ore Mines (Karnataka State).

Pros:
Company is virtually debt free.
Company has been maintaining a healthy dividend payout of 86.49%
Cons:
The company has delivered a poor growth of 1.65% over past five years.
Company has a low return on equity of 11.39% for last 3 years.

Peer Comparison Sector: Mining & Mineral products // Industry: Mining / Minerals / Metals

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
1,721 1,739 2,498 2,872 2,842 2,421 2,469 3,883 2,422 2,438 3,649 3,643
904 913 1,471 1,939 1,347 1,218 1,259 1,982 998 1,179 1,495 1,551
Operating Profit 816 826 1,027 932 1,495 1,203 1,210 1,901 1,424 1,259 2,154 2,092
OPM % 47% 47% 41% 32% 53% 50% 49% 49% 59% 52% 59% 57%
Other Income 345 273 -45 336 129 110 256 170 125 131 136 196
Interest 8 1 5 6 8 10 11 8 11 10 10 10
Depreciation 56 54 55 31 47 62 77 70 62 68 69 80
Profit before tax 1,098 1,043 921 1,231 1,569 1,241 1,377 1,993 1,477 1,313 2,211 2,198
Tax % 35% 26% 35% 58% 38% 32% 36% 44% 34% 52% 29% 34%
Net Profit 711 771 595 512 969 844 887 1,106 975 636 1,577 1,454
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
4,186 5,711 7,564 6,239 11,369 11,262 10,704 12,058 12,356 6,456 8,828 11,615 12,153
962 1,375 1,727 1,820 2,725 2,347 3,327 4,286 4,580 3,762 5,227 5,862 5,223
Operating Profit 3,224 4,336 5,837 4,419 8,644 8,915 7,377 7,772 7,776 2,694 3,601 5,753 6,930
OPM % 77% 76% 77% 71% 76% 79% 69% 64% 63% 42% 41% 50% 57%
Other Income 355 671 885 862 1,203 1,976 2,239 2,140 2,154 1,681 909 719 588
Interest 0 0 0 0 2 1 13 2 0 66 21 37 40
Depreciation 80 60 74 73 120 130 139 150 162 217 196 256 279
Profit before tax 3,498 4,947 6,648 5,207 9,726 10,760 9,464 9,760 9,768 4,092 4,293 6,179 7,199
Tax % 34% 34% 34% 34% 33% 32% 33% 34% 34% 34% 40% 38%
Net Profit 2,320 3,251 4,372 3,447 6,499 7,265 6,342 6,420 6,422 2,712 2,589 3,806 4,642
EPS in Rs 5.68 7.92 10.65 8.40 15.86 17.60 14.83 14.75 14.48 4.60 8.18 12.03
Dividend Payout % 20% 16% 20% 20% 20% 25% 44% 52% 53% 161% 63% 36%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:7.36%
5 Years:1.65%
3 Years:-2.04%
TTM:4.63%
Compounded Profit Growth
10 Years:1.30%
5 Years:-10.23%
3 Years:-17.13%
TTM:21.97%
Return on Equity
10 Years:21.97%
5 Years:15.72%
3 Years:11.39%
Last Year:15.77%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
132 132 396 396 396 396 396 396 396 396 316 316 306
Reserves 5,669 8,157 11,240 13,876 18,818 24,010 27,114 29,592 31,935 28,721 22,203 24,037 25,645
Borrowings 0 0 0 0 0 0 0 0 0 1,497 0 500 364
454 822 1,233 1,439 1,890 2,251 3,279 1,499 2,148 2,186 3,317 3,985 3,466
Total Liabilities 6,255 9,112 12,870 15,711 21,104 26,658 30,790 31,487 34,480 32,800 25,836 28,839 29,782
505 568 747 787 1,099 1,189 1,265 1,362 1,334 1,918 1,953 2,672 2,721
CWIP 113 112 248 561 568 1,494 3,236 5,277 7,710 9,723 11,831 12,520 13,792
Investments 74 83 72 76 136 248 250 250 562 695 727 786 939
5,562 8,348 11,803 14,287 19,302 23,727 26,040 24,597 24,874 20,464 11,325 12,861 12,330
Total Assets 6,255 9,112 12,870 15,711 21,104 26,658 30,790 31,487 34,480 32,800 25,836 28,839 29,782

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
2,052 2,476 2,778 3,604 4,862 4,595 3,087 3,721 4,007 1,862 2,133 3,381
217 517 491 407 -4,362 -737 669 3,455 -530 4,276 5,152 -1,869
-530 -643 -728 -895 -994 -1,912 -2,548 -5,801 -3,449 -6,291 -7,249 -1,557
Net Cash Flow 1,740 2,350 2,541 3,115 -495 1,945 1,208 1,375 28 -154 36 -44

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 71% 70% 67% 40% 58% 50% 36% 34% 32% 14% 16% 26%
Debtor Days 25 31 50 25 16 24 37 44 52 45 43 46
Inventory Turnover 33.05 39.00 32.28 20.76 31.84 25.76 19.53 18.29 18.00 9.83 15.19 20.90