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NMDC Ltd Earnings Release 2020
61742_rns_2020-06-17_150927e9-495b-4876-9471-b8fb392a6650.pdf
Earnings Release
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1:f' ~ it ~ fi=t Pt=ti NMDC Limited
(in«I ~ ifi1 ) (A GOVT. OF INDIA ENTERPRISE) CJ)ltii<'lti : ·~ ·. 10-3-311/1;1, . . t<::'llC: - 500 028.
Regd. Office: 'Khanij Bhavan' 10-3-311/A, Castle Hills, Masab Tank, Hyderabad - 500 028. ~~~I Corporate Identity Number : L 13100TG1958 GOI 001674
No. 18(1 )/2020-Sectt 17th June 2020
| The BSE Limited1.Phiroze Jeejeebhoy Towers,Dalal Street, Mumbai- 400001 | 2.National Stock Exchange of IndiaLtd.,Exchange Plaza, C-1 , Block G,Bandra Kurla Complex,Bandra (E), Mumbai - 400 051 |
|---|---|
| The Calcutta Stock Exchange3.Limited, 7, Lyons Range,Kolkata -700001 |
Dear Sir I Madam,
- Sub: Press Release on "Stable Performance despite Non-operation of Donimalai Mines, Karnataka"
- Ref: Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015; Security ID: NMDC
Please find attached a copy of Press Release on the captioned subject dated 16th June 2020.
This is for your information and records.
Thanking you
Yours faithfully,
:L Limited
A S Pardha Saradhi
Company Secretary
Encl: As above
t" R=tf#e NMDC Limited
(1Jmt ~ lf;J \Jtll{) (A GOVT. OF INDIA ENTERPRISE) ctmicla : ~ ircR', 1().3.311~. . lITTim furi, tc:•Oln<:-soo02s. Regd. Offico: 'Khanij Bhavan' 10·3·3111A, Casile Hilts, Masab Tank. Hyderabad· 500 028. mt I Corporate Identity Number: L13100TG1958 GOI 001674
16.06.2020
PRESS RELEASE
Stable Performance despite Non-operation of Donimalai Mines, Karnataka
| 4th Quarter 2019-20 | Annual 2019-20 | |
|---|---|---|
| Iron Ore Production (Million Tonnes) | 9.47 | 31.49 |
| Iron Ore Sales (Million Tonnes) | 8.62 | 31 .51 |
| Turnover (Rs. In Crore) | 3187 | 11699 |
| Profit Before Tax (Rs. In Crore) | 1482 | 6122 |
NMDC has produced 31.49 million tonnes and sold 31.51 million tonnes of iron ore during 2019-20 against production of 32.36 million tonnes and sales of 32.36 million tonnes during previous year.
The Company's turnover for the year 2019-20 is Rs.11,699 crore against Rs.12, 153 crore during 2018-19.
NMDC's Profit Before Tax (PBT) for the year 2019-20 is Rs.6,122 crore against Rs.7,198 crore during 2018-19, down by 15%. Similarly Profit After Tax (PAT) for the year 2019-20 is Rs.3,610 crore against Rs.4,642 crore during 2018-19, down by 22%.
NMDC's turnover during the 4th quarter is Rs.3, 187 crore compared to turnover of Rs.3,643 crore of CPL Y. NMDC has recorded Profit Before Tax (PBT) of Rs.1,482 crore and Profit After Tax (PAT) of Rs.351 crore during the 4th quarter which are lower by 33% & 76% respectively over 4th quarter of CPLY.
The company has opted to settle dispute relating to Direct Tax under Vivad Se Vishwas Scheme and accordingly an amount of Rs.795 crore was paid in Q4 of 2019-20, thus reducing the PAT.
Impact of COVID-19 on the Performance of the Company:
- Due to nation-wide lock down, last few days of FY-20 were impacted.
- There has been a loss of around 1 O LT of Production and 5.50 LT of sales in March 2020.
- This has resulted in an estimated loss in sales revenue of Rs.220 crore and PBT of Rs.120 crore
The Company's production of iron ore during the 4th quarter is 9.47 million tonnes (MT) registering a decrease of 11 % over CPL Y while sales of iron ore was 8.62 MT which is about 15% less than that of the CPLY.
The Audited Financial Results for the year 2019-20 were approved by the Board of Directors of the Company under the Chairmanship of Shri N. Baijendra Kumar, IAS, CMD, NMDC in its meeting held on 16.06.2020.
Commenting on the performance, Shri Kumar said, "This was a tough quarter with all the disruptions and the disturbances. I am happy with the stable performance despite the challenges faced during this year. During this quarter, we focused on empowering our workforce, technological upgradation and we will see marked improvement in our performance in the following quarters.