NMDC Ltd
NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power.(Source : 202003 Annual Report Page No:119)
- Market Cap ₹ 70,985 Cr.
- Current Price ₹ 80.7
- High / Low ₹ 86.8 / 59.5
- Stock P/E 10.3
- Book Value ₹ 36.9
- Dividend Yield 4.07 %
- ROCE 29.6 %
- ROE 23.6 %
- Face Value ₹ 1.00
Pros
- Stock is providing a good dividend yield of 4.23%.
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
- Company has been maintaining a healthy dividend payout of 39.0%
Cons
- Contingent liabilities of Rs.21,200 Cr.
- Debtor days have increased from 89.5 to 118 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Commodities Metals & Mining Minerals & Mining Industrial Minerals
Part of BSE 500 BSE 200 BSE Dollex 200 BSE PSU Nifty 500
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12,058 | 12,356 | 6,456 | 8,828 | 11,615 | 12,153 | 11,699 | 15,370 | 25,965 | 17,667 | 21,308 | 23,906 | 27,732 | |
| 4,335 | 4,591 | 3,771 | 5,233 | 5,812 | 5,228 | 5,697 | 6,580 | 13,338 | 11,613 | 14,014 | 15,755 | 19,065 | |
| Operating Profit | 7,723 | 7,765 | 2,685 | 3,595 | 5,803 | 6,925 | 6,003 | 8,790 | 12,626 | 6,054 | 7,294 | 8,150 | 8,667 |
| OPM % | 64% | 63% | 42% | 41% | 50% | 57% | 51% | 57% | 49% | 34% | 34% | 34% | 31% |
| 2,182 | 2,155 | 1,682 | 910 | 667 | 588 | 416 | 351 | 716 | 2,004 | 1,087 | 1,591 | 1,548 | |
| Interest | 2 | 0 | 66 | 21 | 37 | 40 | 10 | 17 | 39 | 75 | 78 | 178 | 135 |
| Depreciation | 151 | 173 | 218 | 197 | 257 | 279 | 295 | 229 | 288 | 336 | 351 | 420 | 466 |
| Profit before tax | 9,753 | 9,747 | 4,084 | 4,287 | 6,176 | 7,194 | 6,114 | 8,896 | 13,016 | 7,646 | 7,952 | 9,143 | 9,614 |
| Tax % | 34% | 34% | 34% | 40% | 38% | 36% | 41% | 30% | 27% | 28% | 30% | 28% | |
| 6,371 | 6,351 | 2,544 | 2,543 | 3,808 | 4,617 | 3,573 | 6,277 | 9,429 | 5,601 | 5,567 | 6,520 | 6,900 | |
| EPS in Rs | 5.36 | 5.34 | 2.14 | 2.68 | 4.01 | 5.03 | 3.89 | 7.14 | 10.72 | 6.37 | 6.34 | 7.43 | 7.85 |
| Dividend Payout % | 53% | 53% | 171% | 64% | 36% | 37% | 45% | 36% | 46% | 35% | 38% | 44% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 15% |
| 3 Years: | -3% |
| TTM: | 19% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | 13% |
| 3 Years: | -11% |
| TTM: | 6% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 18% |
| 3 Years: | 28% |
| 1 Year: | 13% |
| Return on Equity | |
|---|---|
| 10 Years: | 19% |
| 5 Years: | 26% |
| 3 Years: | 24% |
| Last Year: | 24% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 396 | 396 | 396 | 316 | 316 | 306 | 306 | 293 | 293 | 293 | 293 | 879 | 879 |
| Reserves | 29,550 | 31,870 | 28,784 | 22,266 | 24,101 | 25,738 | 27,367 | 29,591 | 17,725 | 22,328 | 25,363 | 28,817 | 31,578 |
| 0 | 0 | 1,497 | 0 | 500 | 364 | 566 | 2,000 | 1,800 | 2,128 | 3,359 | 4,276 | 3,640 | |
| 1,497 | 2,197 | 2,079 | 3,201 | 3,774 | 3,483 | 3,056 | 5,045 | 5,094 | 5,204 | 6,646 | 7,035 | 6,380 | |
| Total Liabilities | 31,444 | 34,464 | 32,756 | 25,784 | 28,691 | 29,891 | 31,294 | 36,930 | 24,912 | 29,953 | 35,661 | 41,007 | 42,477 |
| 1,366 | 1,468 | 2,058 | 2,095 | 3,457 | 3,512 | 3,810 | 3,933 | 3,662 | 3,199 | 3,377 | 5,038 | 5,074 | |
| CWIP | 5,297 | 7,801 | 9,747 | 11,855 | 12,545 | 13,819 | 15,530 | 17,158 | 1,333 | 1,998 | 3,235 | 4,737 | 5,309 |
| Investments | 219 | 319 | 592 | 612 | 673 | 859 | 910 | 875 | 895 | 940 | 956 | 978 | 1,203 |
| 24,561 | 24,876 | 20,359 | 11,221 | 12,016 | 11,701 | 11,045 | 14,964 | 19,022 | 23,816 | 28,094 | 30,253 | 30,890 | |
| Total Assets | 31,444 | 34,464 | 32,756 | 25,784 | 28,691 | 29,891 | 31,294 | 36,930 | 24,912 | 29,953 | 35,661 | 41,007 | 42,477 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,734 | 3,999 | 2,502 | 2,109 | 3,376 | 4,002 | 2,126 | 7,266 | 6,942 | 1,838 | 7,394 | 1,894 | |
| 3,444 | -517 | 3,645 | 5,171 | -1,865 | -789 | -313 | -4,316 | -3,214 | 202 | -6,076 | 306 | |
| -5,801 | -3,449 | -6,290 | -7,249 | -1,557 | -3,201 | -1,753 | -2,591 | -4,067 | -2,067 | -1,302 | -2,225 | |
| Net Cash Flow | 1,376 | 33 | -144 | 31 | -46 | 11 | 60 | 359 | -339 | -28 | 16 | -25 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 52 | 45 | 43 | 46 | 43 | 69 | 51 | 42 | 90 | 60 | 118 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 44 | 52 | 45 | 43 | 46 | 43 | 69 | 51 | 42 | 90 | 60 | 118 |
| Working Capital Days | 116 | 101 | 7 | 3 | -4 | 9 | 53 | -16 | 30 | 94 | 9 | 55 |
| ROCE % | 34% | 32% | 14% | 16% | 25% | 28% | 23% | 30% | 50% | 29% | 31% | 30% |
Insights
In beta| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Iron Ore Mining Capacity MTPA ・Standalone data |
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| Iron Ore Production Lakh Tonnes ・Standalone data |
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| Iron Ore Sales Lakh Tonnes ・Standalone data |
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| Steel Production (NSL) MTPA |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Directorate
3h - Shri Krishna Kumar Thakur appointed Director (Personnel) of NMDC effective 19 March 2026 for five-year term.
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Intimation Of The Receipt Of Order Issued By Ministry Of Steel, Government Of India In Respect Of Appointment Of Shri Anurag Kapil As Director (Finance) On The Board Of The Company
1d - Anurag Kapil appointed Director (Finance) at NMDC by Ministry of Steel for five years, effective 18-Mar-2026.
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Intimation Of The Receipt Of Order Issued By Ministry Of Steel, Government Of India In Respect Of Appointment Of Shri Krishna Kumar Thakur As Director (Personnel) On The Board Of The Company.
2d - Shri Krishna Kumar Thakur appointed Director (Personnel) of NMDC for five years (Order dated 17.03.2026).
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Memorandum Of Understanding (Mou) With The Gujarat Mineral Development Corporation Limited (GMDC).
16 Mar - NMDC signed non-binding MoU with GMDC on 16-Mar-2026 to collaborate on rare-earth exploration, processing, and downstream value chain.
-
Receipt Of Communication From Ministry Of Steel, Govt. Of India Conveying Concurrence Of DIPAM, Ministry Of Finance For Incorporation Of A Wholly Owned Subsidiary (WOS) Of NMDC Ltd In GIFT City, Gandhinagar, Gujarat.
13 Mar - 13 Mar 2026: DIPAM and Ministry of Steel approved NMDC's wholly owned subsidiary incorporation in GIFT City.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Business Overview
Founded in 1958, NMDC is a fully government-owned entity under the Ministry of Steel specializes in the exploration of minerals including copper, rock phosphate, limestone, magnesite, diamond, and tungsten, and produces a variety of products, including high-grade iron ore with 64% Fe content, diamonds, iron ore pellets, etc. [1] [2] [3]