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Nalco's performance rides on price recovery - Views on News from Equitymaster
 
 
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  • Oct 15, 1999

    Nalco's performance rides on price recovery

    National Aluminium Company (Nalco) has posted a 40% growth (YoY) in net profits for the half year ended 30th September 1999 (1HFY2000).

    Nalco (FY99 Sales Rs 15.05 bn) is India's most efficient aluminium producer. The company is the lowest cost producer of alumina and one of the lowest cost producers of metal in the world.

    (Rs m) 1HFY2000 1HFY1999 Change
    Sales 9,522 7,121 33.7%
    Other Income 558 856 -34.8%
    Expenditure 5,773 4,440 30.0%
    Interest 467 328 42.4%
    Depreciation 1,404 1,394 0.7%
    Profit before Tax 2,436 1,816 34.1%
    Tax 655 542 20.8%
    Profit after Tax 1,781 1,274 39.8%
    Net profit margins 18.7% 17.9%  

    The company has benefited from a surge in aluminium prices globally. The reason for the surge can be attributed to the pick up in demand in the Southeast Asian economies and the supply gap created in the market due to the temporary shut down of some smelters.

    Although the company seems to have taken measures to control operating costs, the debt servicing costs have risen sharply. This could be a cause of concern in the future.

    Market View:
    Analysts have rated the stock as a 'BUY' on account of the recovery in aluminium prices in the domestic and international markets.

     

     

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    Aug 22, 2017 03:36 PM

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