NMDC · Metals & Mining
NMDC Ltd. reported revenue of ₹6,489 cr for January to March 2024, — on the year and +19.9% on the quarter.
Operating profit (EBITDA) was ₹2,102 cr, a margin of 32.4%, — on the year and −470 bps on the quarter.
Net profit was ₹1,410 cr, — on the year and −4.9% on the quarter, with earnings per share of ₹1.61.
Metal margins move with the spread between product prices and coal and ore costs, so large quarterly swings are normal here and say more about prices than about the business. The quarterly statements do not carry volumes, realisation per tonne and the cost of coal and ore; those come with the filing read.
On earnings per share of ₹6.35 over the last four quarters, the stock at ₹71.50 trades at 11.3 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹4,014 cr | ₹5,410 cr | ₹6,489 cr | ₹5,414 cr | ₹4,919 cr | ₹6,568 cr | ₹7,005 cr | ₹6,739 cr | ₹6,378 cr | ₹7,611 cr | ₹11,343 cr | ₹6,795 cr |
| YoY | — | — | — | +0% | +23% | +21% | +8% | +24% | +30% | +16% | +62% | +1% |
| EBITDA margin | 29.6% | 37.1% | 32.4% | 43.2% | 28.2% | 36.1% | 29.3% | 36.8% | 31.2% | 28.2% | 23.3% | 36.3% |
| Other income, % of PBT | 23% | 4% | 16% | 14% | 22% | 15% | 21% | 11% | 17% | 16% | 15% | 13% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 26% | 40% | 25% | 26% | 27% | 37% | 26% | 26% | 26% | 30% | 25% |
| Net profit | ₹1,026 cr | ₹1,482 cr | ₹1,410 cr | ₹1,969 cr | ₹1,205 cr | ₹1,880 cr | ₹1,477 cr | ₹1,968 cr | ₹1,698 cr | ₹1,757 cr | ₹2,027 cr | ₹1,976 cr |
| YoY | — | — | — | +19% | +17% | +27% | +5% | −0% | +41% | −7% | +37% | +0% |
| Core profit YoY | — | — | — | +17% | +16% | +17% | −6% | +4% | +50% | −9% | +32% | +0% |
| EPS | ₹1.17 | ₹1.69 | ₹1.61 | ₹2.24 | ₹1.38 | ₹2.14 | ₹1.68 | ₹2.24 | ₹1.93 | ₹2.00 | ₹2.31 | ₹2.25 |
| Flags | · | · | · | ✓ | ✓ | ✓ | 1 | 1 | ✓ | 1 | 1 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
NMDC Ltd. reported revenue of ₹6,489 cr (— on the year) and net profit of ₹1,410 cr (— on the year) for January to March 2024.
None of the 2 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.