- 04 Apr 2022
- ICICIdirect Research
NMDC POSTS HIGHEST EVER PRODUCTION, SALES VOLUME IN FY22
News: NMDC reported production and sales volume for March 2022. For March 2022, NMDC reported production volume of 4.98 million tonnes (MT) (up 9% YoY) while sales volume was at 4.21 MT (up 3% YoY). For FY22, NMDC reported production volume of 42.15 MT (up 23% YoY), while sales volume for the year under review (FY22) was at 40.7 MT (up 22% YoY)
Views: NMDC has registered highest ever production and sales volume in FY22, which augurs well. NMDC’s sales volume of 40.7 MT for FY22 is broadly in line with our estimate of 41 MT. Furthermore NMDC has also taken price hike in both iron ore lump ore and fines w.e.f. April 1, 2022. NMDC has increased the prices of lump ore by Rs 100/tonne, while the hike in case of iron ore fines is of Rs 200/tonne. Post the hike, the price of lump ore stands at Rs 6100/tonne while that of iron ore fines stands at Rs 5160/tonne
Impact: Positive