On Wednesday’s session, the share price of a company engaged in the mining of Lignite, Coal and generation of power jumped nearly 4 percent to hit an intraday high at Rs. 211.75, after the company’s Board scheduled a meeting to consider raising $600 Mn foreign currency loan.
With a market cap of Rs. 28,280.45 crore, at 03:12 p.m., the shares of NLC India Limited were trading in the green at Rs. 204, up by 0.14 percent, compared to its previous closing price of Rs. 203.7.
According to June 4th regulatory filings with the stock exchanges, a Board meeting of NLC India is scheduled on 10th June to consider and approve raising foreign currency loan through External Commercial Borrowings (ECB) up to $600 Million through Direct route, subject to RBI guidelines.
Additionally, the Board will also consider and approve seeking external assistance from the Multilateral Development Bank (MDBs) through the Department of Economic Affairs (DEA) for upcoming Renewable Power Projects.
In terms of financials, the revenue from operations stood at Rs. 3,540.61 crore in Q4 FY23-24, falling by 31 percent YoY from Rs. 5,134 crore in Q4 FY22-23, and the net profit declined by 86.4 percent to Rs. 113.77 crore from Rs. 836.6 crore, during the same period.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 4,868 crore in FY22-23 to Rs. 5,556 crore in FY23-24, representing a growth of 14 percent.
In the financial year 2023-24, the company achieved a capex of Rs. 4,270 crore against the target of Rs. 2,880 crore, indicating a 148 percent increase in the capex.
The stock has delivered nearly 107.6 percent of multibagger returns in one year, and around 12.2 percent of positive returns in the last six months.
NLC India Limited is a Navratna company under the Ministry of Coal engaged in the business of mining of Lignite, Coal and generation of power by using lignite as well as Renewable Energy Sources and consultancy.
Written by Shivani Singh
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