Volume growth and capacity enhancement to drive next leg of performance

01 Apr 2024
5 Min read 
  • NMDC, the largest domestic iron ore miner, is expected to surpass 50mt of production by FY25E.
  •  Volume growth and capacity enhancement projects will drive the company's performance.
  •  The domestic steel sector is well placed, with NMDC commanding a 16% market share.
  •  NMDC has reduced prices in line with the correction in international prices.
  •  NMDC trades at attractive valuations with a P/E of 9.5x and P/BV of 2.3x.
  •  The company has planned capex for evacuation and capacity enhancement projects to reach a total capacity of 100mt.
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