Buy National Aluminium Company, target price Rs 89: ICICI Direct

ICICI Direct has buy call on National Aluminium Company with a target price of Rs 89. The current market price of National Aluminium Company is Rs 82.8.

National Aluminium Company Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 15372.61 Crore) operating in Metals - Non Ferrous sector.

National Aluminium Company Ltd. key Products/Revenue Segments include Aluminium, Alumina, Export Incentives, Wind Power, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 3558.83 Crore, down -7.47 % from last quarter Total Income of Rs 3846.22 Crore and down -2.08 % from last year same quarter Total Income of Rs 3634.59 Crore. Company reported net profit after tax of Rs 170.12 Crore in latest quarter.

The company’s top management includes Mr.Sridhar Patra, Dr.(Ms.)Shatorupa, Mr.Y P Chillio, Dr.Ajay Narang, Mr.George Kurian, Dr.B R Ramakrishna, Mr.Ravi Nath Jha, Mr.Sadashiv Samantaray, Mr.Ramesh Chandra Joshi, Mr.Veena Kumari Dermal, Mr.Sanjay Ramanlal Patel, Mr.Sanjay Lohiya, Mr.Bijay Kumar Das, Mr.M P Mishra, Mr.Radhashyam Mahapatro, Mr.Dushyant Upadhyay. Company has A K Sabat & Co. as its auditors. As on 30-06-2022, the company has a total of 184 Crore shares outstanding.

Investment Rationale
Breakout above last four months range and MACD in buy mode.

Promoter/FII Holdings
Promoters held 51.28 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.71 per cent, DIIs 10.13 per cent.