NMDC Limited
NSE Symbol NMDC
NMDC has produced excellent results for FY 2011.Likewise, in Q4 of FY 11 also, it has produced very good results.
Net Sales in FY 11 was Rs.11368.94 cr – up by 82.22% from FY 10. The Q4 FY 10 figure was Rs.3769.75Cr – up by 43.82% from Q3 FY 11 and by 90.07% from Q4 FY 10.
Total Expenditure in FY 11 has gone up to Rs.2847.47 cr – up by 50.38% from FY 10 . The same for Q4 FY 10 was Rs.1072.78 CR – up by 69.02% from Q3 FY 11; and up by 70.42% from Q4 FY 10.
Profit from Operations in FY 11 has risen to Rs.8521.47 cr – up by 96.09% from FY 10; The same was rs.2696.97 cr in Q4 FY 11 – up by 35.76% from Q3 FY 11 and up by 99.21% from Q4 FY 10.
Profit before tax in FY 11 was Rs.9727.17 cr – up by 86.8% from FY 10. The same was Rs.3140.25 cr in Q4 FY 11, up by 37.66% from Q3 FY 11 and up by 96.34% from Q4 FY 10.
Net Profit has gone up to Rs.6449.22 cr in FY 11 – up by 87.08% from FY 10. The same was Rs.2098.62 cr in Q4 FY 10 – up by 38.25% from Q3 FY 11 ; and up by 96.94% from Q4 FY 10.
On a face Value of Rs.1 – the Basic EPS amounts to Rs.16.39 in FY 11 – against Rs.8.69 in FY 10. The same was Rs.5.29 in Q4 FY 11, Rs.3.83 in Q3 FY 11, Rs.3.48 in Q2 FY 11; Rs.3.79 in Q1 FY 11 and Rs.2.69 in Q4 FY 10. There is a jump in profitability in Q4 FY 11 also – whether this jump will sustain in coming qtrs needs to be watched. But, overall, the performance has been impressive.
The latest MP is Rs.258 on a Face value of Rs.1, and an annual EPS of Rs.16.39. The PE Ratio is around 16. But, NMDC is likely to improve its performance further and justify a higher MP.
RESULTS TABLE :
| FY 11 SA | Q4 FY 11 | Q3 FY 11 | Q4 FY 10 | ||
| Net Sales | 1136894 | 623909 | 376975 | 262122 | 198333 |
| Increase in SIT / WIP | -11317 | 190 | -4143 | -3457 | 1248 |
| Raw Materials | 23613 | 20945 | 7977 | 5747 | 7052 |
| Employees Cost | 49239 | 41951 | 14707 | 10909 | 14876 |
| Depreciation | 12498 | 7662 | 4204 | 2939 | 2536 |
| Other Expenditure | 210714 | 118600 | 84533 | 47334 | 37237 |
| Total Expenditure | 284747 | 189348 | 107278 | 63472 | 62949 |
| Profit from Operations | 852147 | 434561 | 269697 | 198650 | 135384 |
| Other Income | 120570 | 86171 | 44328 | 29472 | 24556 |
| Profit before tax | 972717 | 520732 | 314025 | 228122 | 159940 |
| Tax Expense | 327795 | 176006 | 104163 | 76319 | 53381 |
| Net Profit | 644922 | 344726 | 209862 | 151803 | 106559 |
| Dividend (%) | 330 | 175 | 215 | - | 100 |
| Face Value (in Rs.) | 1 | 1 | 1 | 1 | 1 |
| Paid-up Equity | 39647 | 39647 | 39647 | 39647 | 39647 |
| Reserves | 1881805 | 1387596 | - | - | - |
| Basic EPS | 16.39 | 8.69 | 5.29 | 3.83 | 2.69 |
| Public holding (%) | 10 | 10 | 10 | 10 | 10 |
ANNOUNCEMENTS TO NSE
28-05-2011 Nmdc Limited have recommended a final dividend of Re. 2.15/- per share of Re. 1/-, in addition to the interim dividend of Rs. 1.15 (paid in Feb 2011) per share of Re. 1/- for the year 2010-11. -
26-05-2011 Nmdc has signed a Memorandum of Understanding (MoU) with Legacy Iron Ore Limited (Legacy), Australia to acquire 50% of the Company (Legacy) enabling NMDC's entry in the Australian resource sector. By this investment, NMDC would expand its geological footprint and position itself for the acquisition of additional mineral assets in iron ore and coal in Australia. The above is subject to due diligences and necessary approvals.
04-03-2011 Nmdc Limited has signed a Contract Agreement on March 3, 2011 with consortium comprising Siemens VAI, Austria, SVAI India and NCC Ltd., for turnkey execution of a Sinter Plant Complex. This is the first contract amongst the nine main technological packages for the 3 MTPA Integrated Steel Plant at Nagarnar in Chhattisgarh and the cost of the project is about Rs. 760 crores.
13-12-2010 "NMDC Ltd. has signed on December 10, 2010, a Memorandum of Understanding (MoU) with OJSC Severstal, a leading vertically integrated international steel and mining company in Russia to establish a Joint Venture Company to build an Integrated Steel Plant in India".
12-10-2010 Nmdc has signed a shareholders Agreement with Kopano Logistics Services (Proprietary) Limited which will lead to formation of a Joint Venture Company. This JV Company is for exploration and development of mineral properties in the Republic of South Africa.
09-09-2010 Nmdc Limited had informed the Exchange regarding setting-up of the 3.0 MTPA Steel Plant at Nagarnar in the State of Chhattisgarh. The Company has now informed the Exchange that in this connection, the Company has acquired a total 1948 acres of land in two phases required for the above project till date.
01-07-2010 the Merger Order passed by Ministry of Corporate Affairs (MCA) for merger of Sponge Iron India Limited (SIIL) with NMDC Ltd., has been filed on July 01, 2010 with Registrar of Companies, Andhra Pradesh, Hyderabad, within the stipulated time. Consequent upon filing, SIIL stands merged with NMDC with effect from July 01, 2010 without being wound up in terms of the Orders of Ministry of Corporate Affairs, Government of India dated January 18, 2010 and May 24, 2010.
17-03-2010 Nmdc Limited has filed the Prospectus with the Registrar of Companies, A.P., Hyderabad (ROC) for a Further Public Offer of 332,243,200 Equity Shares of Re.1/- each by way of an Offer for Sale by the President of India, acting through the Ministry of Steel, Government of India. -
15-03-2010 Nmdc Limited has informed the Exchange that the Government has decided the issue price at Rs. 300/- per share for the FPO of NMDC Ltd., with Rs. 285/- per share for retail and eligible employees. -
10-03-2010 Nmdc Limited has informed the Exchange denying the article titled "NMDC to go in for monthly contracts" that appeared in DNA on March 10, 2010. The Company has further informed the Exchange that : "At present it does not have any plans to have monthly contracts with its customers."
09-03-2010 Nmdc Limited has informed the Exchange that the Government has decided the Price Band of Rs. 300/- to Rs. 350/- per share for the FPO of NMDC Ltd., which is to open for subscription on 10th March, 2010.
25-01-2010 "NMDC has filed a DRHP with SEBI for a Further Public Offer of 332,243,200 Equity Shares by way of an Offer for Sale by the President of India acting through the Ministry of Steel Government of India".
25-01-2010 " The Government of India has desired to complete the process of disinvestment of 8.38% of paid-up equity in NMDC Ltd., out of government's shareholding through further public offer in the domestic market during the current financial year". The Company has now informed that "the Board of Directors of the Company at its meeting held on January 23, 2010 has approved the Draft Red Hearing Prospectus (DRHP) prepared by the Legal Advisors in consultation with BRLMs appointed by the Government of India, to be filed with SEBI in connection with proposed disinvestment of 8.38% of paid up equity capital of NMDC Ltd., out of President of India's shareholding (Selling Shareholder) through further public offer during the current financial year." -
22-01-2010 Nmdc Limited has entered into a Memorandum of Understanding dated January 22, 2010 with Tata Steel Ltd. to explore the possibility of acquisition, exploration and development of mines, extraction and processing of minerals, setting up integrated steel plants and other businesses of mutual interest.
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