Buy NLC India, target price Rs 85: IIFL

IIFL has buy call on NLC India with a target price of Rs 85. The current market price of NLC India is Rs 79.35. IIFL recommended to keep stop loss at Rs 77.

NLC India, incorporated in the year 1956, is a Mid Cap company (having a market cap of Rs 11093.09 Crore) operating in Power sector.

NLC India key Products/Revenue Segments include Power, Coal, Lignite, Fly Ash and Consultancy Income for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 3982.49 Crore, up 11.27 % from last quarter Total Income of Rs 3579.15 Crore and up 39.98 % from last year same quarter Total Income of Rs 2845.08 Crore. Company has reported net profit after tax of Rs -396.49 Crore in latest quarter.

The company’s top management includes Mr.Rakesh Kumar, Prof.Nivedita Srivastava, Mr.Prakash Mishra, Mr.Subrata Chaudhuri, Mr.Suresh Chandra Suman, Mr.K Mohan Reddy, Mr.Shaji John, Mr.Ramesh Chand Meena, Mr.Nagaraju Maddirala, Mr.M T Ramesh. Company has P K K G Balasubramaniam & Associates as its auditors. As on 31-12-2022, the company has a total of 139 Crore shares outstanding.

Investment Rationale
The stock has given a trendline breakout.

Promoter/FII Holdings
Promoters held 79.2 per cent stake in the company as of 31-Dec-2022, while FIIs owned 0.83 per cent, DIIs 5.88 per cent.