Dear Members if possible please share your feedback.
I think the best way to track GPIL is keeping a tab on the iron ore prices. All the other forward integrations measures (Integrated Steel Plant) will take time to fructify. Till then we need to just focus of Iron Ore prices and capacity additions.
Ive also tried to draw a comparison between the two other iron ore miners under the old royalty scheme based on FY’24 numbers. PFA the comparative table below:
| GPIL | Lloyd Metals | Sandur | |
|---|---|---|---|
| M.Cap | 11994 | 34863 | 8761 |
| CMP | 882 | 690 | 541 |
| Sales | 5455 | 6522 | 1252 |
| EBITDA | 1328 | 1728 | 320 |
| EBITDA % | 24.34% | 26.49% | 25.56% |
| PAT | 936 | 1243 | 238 |
| PAT% | 17.16% | 19.06% | 19.01% |
| Net Cash | 1056 | 265 | -74 |
| EV | 10938 | 34598 | 8835 |
| EV/EBITDA | 8.24 | 20.02 | 27.61 |
| P/E | 12.81 | 28.05 | 36.81 |
| Net Blcok | 2364 | 1235 | 886 |
| CWIP | 430 | 1268 | 116 |
| AssetTurn | 2.31 | 5.28 | 1.41 |
| RoA | 40% | 101% | 27% |
| Equity+ Reserve | 4496 | 2811 | 2157 |
| RoE | 21% | 44% | 11% |
| IronOre Capacity (in MMT) | 3 | 10 | 3.81 |
| IronOre Prod (in MMT) | 2.3 | 9.7 | 1.97 |
| Production Guidance | 6 | 55 | NA |
| Lease Expiry | 2057 | 2057 | 2033 |
Sandur also has manganese ore which is on a high these days.
Lloyd has crazy expansion plans.
GPIL is the cheapest company out of the three.
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