BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
National Aluminium Company Ltd. surprised with higher-than-expected Ebitda at Rs 1.29 billion (our estimate Rs 81 million), led by cost reduction in the aluminum business.
However, it was down 33% YoY due to lower prices and volumes.
Revenue declined 34% YoY (29% QoQ) to Rs 13.8 billion on a lower London Metal Exchange (LME) aluminum price of 1,493/tonne U.S. dollar (down 17% YoY; down 12% QoQ) and lower aluminum volumes.
Ebitda at Rs 1.3 billion (down 38% QoQ) came in above our estimate of Rs 81 million despite lower-than-expected volumes.
We believe this was due to a reduction in fixed cost and other discretionary costs as other expenses declined 49% YoY to Rs 2.1 billion.
Reported Ebitda still declined 40% YoY on lower alumina and aluminum prices. The company reported profit after tax of Rs 166 million (our estimate loss of Rs 472 million).
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint 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 brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR