NMDC Steel Q3 Result 2024: Date and Time, Share Price and Target

News: The National Mineral Development Corporation (NMDC), a prominent player in the metal mining sector, is all set to unveil its Q3 2024 results. In this article, we’ll delve into the key details you need to know about NMDC’s performance during this quarter.

Date and Time of Announcement

Mark your calendars! The eagerly awaited NMDC Q3 results will be disclosed on February 14, 2024. Investors, analysts, and stakeholders are keenly anticipating this update.

Financial Highlights

Here’s a snapshot of NMDC’s financial performance for Q3 2024:

• Net Profit: The company’s net profit has surged by an impressive 62%, reaching ₹1,470 crore. This substantial growth reflects NMDC’s resilience and strategic moves in a dynamic market.
• Revenue: NMDC’s revenue has witnessed a robust 45% year-on-year increase, climbing to ₹5,746 crore from the previous year’s ₹3,924 crore. This remarkable growth underscores the company’s ability to navigate challenges and capitalize on opportunities.

Interim Dividend

The NMDC board has taken a significant step by approving an interim dividend of ₹5.75 per equity share for the financial year 2023-24. The record date for this dividend is February 27, 2024. Shareholders can look forward to this additional benefit.

Share Price and Target

While the exact share price and target are not explicitly mentioned in the available data, investors should closely monitor NMDC’s stock performance. Keep an eye on market updates and expert analyses to gauge the company’s trajectory.

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About NMDC Steel Limited :

NMDC Steel Limited is a government-owned company operating under the administrative control of the Ministry of Steel, Government of India. Let’s explore some key details about this significant player in the steel industry:

Overview:

• NMDC Steel Limited (NSL) owns and operates a state-of-the-art 3.0 MTPA steel plant located in Nagarnar, Chhattisgarh.

• The plant was built at an approximate cost of ₹24,000 crores and is equipped with modern technology, including its most advanced mill.

• NMDC Steel Limited’s shares are listed on BSE, NSE, and Calcutta Stock Exchange.

Product Mix:

• The Nagarnar Steel Plant produces a variety of high-grade hot-rolled steel products.

• These include low carbon steel, HSLA & Dual Phase Steel, and API quality steel.

• The steel can be rolled into thicknesses ranging from 1mm to 16mm.

• With its capability to roll 1650mm wide HR, the Thin Slab caster at Nagarnar Steel Plant is the widest mill in the public sector.

Iron Ore Supply Linkage:

• NMDC Steel Plant benefits from its iron ore supply linkage with Bailadila mines, located just 100 kms from Nagarnar.

• This strategic advantage ensures a steady supply of raw material for steel production.

Commercial Production:

• The plant commenced commercial production of HR Coils on August 31, 2023.

• HR Coils, Sheets, and Plates produced by India’s latest and most modern mill are expected to meet the growing demand across various sectors, including LPG cylinders, bridges, steel structures, ships, and more.

Future Prospects:

• NMDC Steel Limited aims to play a pivotal role in the hot-rolled market and contribute to India’s industrial growth.

• As the company continues to evolve, it remains a focal point for investors and stakeholders.

NMDC’s Q3 results reflect its resilience, growth, and commitment to shareholders. As the metal mining industry continues to evolve, NMDC’s performance remains a focal point for investors. 

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