Nalco - Higher LME Prices Boost Q3 Profitability: Motilal Oswal  
Molten aluminum pours from a molding machine into ingot molds (Photographer Akos Stiller/Bloomberg)

Nalco - Higher LME Prices Boost Q3 Profitability: Motilal Oswal  

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

National Aluminium Company Ltd.’s Q3 FY21 result was strong on the back of higher London Metal Exchange prices.

It reported an Ebitda of Rs 4.3 billion (up 57% QoQ) and profit after tax of Rs 2.4 billion (up 123% QoQ).

We raise our FY21E/FY22E earnings per share estimate by 9%/13% to factor in a lower tax rate.

We expect alumina prices to stay strong which should support strong cash flows and a good dividend payout (8% yield in FY22).

Click on the attachment to read the full report:

Motilal Oswal Nalco Q3FY21 Result Update.pdf

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