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NMDC - Q4FY13 Result First Cut - Microsec
Posted On : 2013-05-30 21:31:15( TIMEZONE : IST )
NMDC Ltd announced its Q4FY13 and FY13 results on 29th May, 2013.
Important Note: During the quarter , the company considered the supreme court's judgment dated 18TH April, 2013 on illegal mining case at Karnataka and showed 10% of the sales proceed towards contribution of Special Purpose vehicle to be created in Karnataka of INR337.13 crore, and amount payable towards penalty of INR68.66 crores. These has been expensed in the current quarter (this is treated as onetime expense). So, we will consider the results after adjusting these expenses.
Quarterly Performance (After adjusting the extra expenses): The company arrived at net sales of INR 3202.10 crore, which was up drastically by 23.46% and 56.44% on YoY and QoQ basis as the Company achieved a record production and sales of iron ore for the 4th quarter (2012-13) at 9.57 MT and 8.24 MT respectively. This was accomplished inspite of the slurry pipeline not being available at all for evacuation. The EBITDA for the quarter was INR2155.59 crore, which was up by 9.01% and 54.94% on YoY and QoQ basis. The EBITDA margin was down by 894bps and 67bps due to significant increase in freight expenses, royalty paid on iron ore extraction and employee costs. The company posted net profit of INR1870.74 crore, which was up by 10.46% and 44.70% on YoY basis and QoQ basis.
Annual Performance (After adjusting the extra expenses): The company arrived at net sales of INR 10698.67 crore, which was down by 5% mainly due to o incessant rainfall as well as low off-take of iron ore by customers and evacuation problems in the Bailadila region during the 2nd and 3rd quarter of the year. The production and sales of iron ore for the year ended 2012-13 was 27.184 MT and 26.274 MT, respectively which was marginally lower by 1% and 4% respectively as compared to CPLY. The EBITDA for the year was INR7783.76 crore, which was also down by 12.80%. The EBITDA margin fell by 654bps. The company posted net profit of INR6748.16 crore, which was down by 7.12%.
Key Highlights:
- The capital expenditure incurred during the year under various schemes is Rs.1607.24 crore. For the year 2013-14, an expenditure of Rs.2720 crore is planned to be expended.
- The company has kept iron ore price unchanged for the month of June, 2013.
