NMDC Q4 Review - Export Duties Will Act As Meaningful Headwinds To Earnings: ICICI Securities

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.NMDC Ltd. has reported better-than-expected Ebitda at Rs 26.8 billion. Karnataka production continues to clock an impressive run-rate of ~12 million tonne per annum (much higher in Q4 FY22). NMDC's Ebitda/tonne at Rs 2,184/tonne has reduced ~18% QoQ and we expect the same to normalise at Rs 1,100/tonne by FY24E. Further, realisation/tonne declined by ~Rs 483/tonne QoQ. Royalty/tonne has also declined in line with lower realisation/tonne. 22.5% additional premium was extended to all mines (barring Kumaraswamy); further government has introduced ~50% export duty on iron ore leading to significant headwinds over medium term (one year) earnings. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

NMDC Q4 Review - Export Duties Will Act As Meaningful Headwinds To Earnings: ICICI Securities

NMDC Q4 Review - Export Duties Will Act As Meaningful Headwinds To Earnings: ICICI Securities

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