Buy NMDC, target price Rs 140: ICICI Direct

ICICI Direct has buy call on NMDC with a target price of Rs 140. The current market price of NMDC is Rs 109.15.

NMDC, incorporated in the year 1958, is a Large Cap company (having a market cap of Rs 31972.91 Crore) operating in Mining sector.

NMDC key Products/Revenue Segments include Iron Ore, Pellet, Diamonds, Sale of services, Power 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 3924.75 Crore, up 4.53 % from last quarter Total Income of Rs 3754.77 Crore and down -34.88 % from last year same quarter Total Income of Rs 6026.68 Crore. Company has reported net profit after tax of Rs 903.89 Crore in latest quarter.

The company’s top management includes Mr.Sumit Deb, Mr.Sanjay Singh, Mr.Vishal Babber, Mr.Anil Sadashivrao Kamble, Mr.Sanjay Tandon, Mr.Sukriti Likhi, Mrs.Rasika Chaube, Mr.Somnath Nandi, Mr.Dilip Kumar Mohanty, Mr.Amitava Mukherjee, Mr.A S Pardha Saradhi. Company has Sagar & Associates as its auditors. As on 31-12-2022, the company has a total of 293 Crore shares outstanding.

Investment Rationale
Incorporated in 1958, NMDC is India’s largest merchant iron ore miner.

Promoter/FII Holdings
Promoters held 60.79 per cent stake in the company as of 31-Dec-2022, while FIIs owned 6.6 per cent, DIIs 19.2 per cent.