23 AUGUST 2011moneycontrol
Angel Broking neutral on NALCO
Edited by : AL CIRCLE
1 min read
Angel Broking has maintained neutral rating on National Aluminium Company (NALCO), in its August 17, 2010 research report.
“National Aluminium’s (Nalco) 1QFY2012 results were above our expectations. The company was able to sustain its margin on account of higher realisation. For 1QFY2012, Nalco’s net sales grew by 34.2% yoy to Rs1,733cr, led by higher realisation of alumina and aluminium. Alumina realisation increased by 21.1% yoy to Rs20,653/tonne and aluminium realisation increased by 18.3% yoy to Rs122,086/tonne. The aluminum segment’s sales grew by 20.9% yoy to Rs1,355cr due to higher LME prices despite metal volumes of only 2.2% yoy to 111kt. The chemical segment’s revenue grew by 60.6% yoy to Rs646cr on the back of alumina sales volumes, which grew by 83.0% yoy to 183kt.”
“National Aluminium’s (Nalco) 1QFY2012 results were above our expectations. The company was able to sustain its margin on account of higher realisation. For 1QFY2012, Nalco’s net sales grew by 34.2% yoy to Rs1,733cr, led by higher realisation of alumina and aluminium. Alumina realisation increased by 21.1% yoy to Rs20,653/tonne and aluminium realisation increased by 18.3% yoy to Rs122,086/tonne. The aluminum segment’s sales grew by 20.9% yoy to Rs1,355cr due to higher LME prices despite metal volumes of only 2.2% yoy to 111kt. The chemical segment’s revenue grew by 60.6% yoy to Rs646cr on the back of alumina sales volumes, which grew by 83.0% yoy to 183kt.”
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