Synopsis
NMDC aims to expand its annual capex to Rs.3,000 crore from 2024-25 onwards to improve its mining and logistics capacity, and boost production volumes.
India’s largest producer of iron ore reported a 13% and 19% decline in revenue and EBITDA on a y-o-y basis in the fourth quarter of 2022-23. Despite this, the revenue and EBITDA of Rs.5,851 crore and Rs.2,162 crore were 5.5% and 8.4% higher than the consensus average estimates of analysts compiled by Reuters-Refintiv. Lower input costs, higher volumes and better realisations helped NMDC report numbers above estimates. The company produced 41.22
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