NMDC Steel Ltd
National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates iron ore mines in Chhattisgarh and Karnataka and has its registered office at Hyderabad, Telangana.[1]
- Market Cap ₹ 10,096 Cr.
- Current Price ₹ 34.4
- High / Low ₹ 49.6 / 28.4
- Stock P/E
- Book Value ₹ 44.4
- Dividend Yield 0.00 %
- ROCE -13.0 %
- ROE -16.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 0.81 times its book value
- Company is expected to give good quarter
Cons
- Company has low interest coverage ratio.
- Company has a low return on equity of -8.26% over last 3 years.
- Contingent liabilities of Rs.3,603 Cr.
* 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 Ferrous Metals Iron & Steel
Part of BSE 500 BSE PSU Nifty 500 BSE CPSE BSE Allcap
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 3,049 | 8,503 | 12,601 | |
| 0 | 0 | 0 | 0 | 4,485 | 10,291 | 12,179 | |
| Operating Profit | -0 | -0 | 0 | 0 | -1,436 | -1,788 | 422 |
| OPM % | -47% | -21% | 3% | ||||
| 0 | 0 | 0 | 0 | 119 | 72 | 79 | |
| Interest | 0 | 0 | 0 | 0 | 331 | 652 | 563 |
| Depreciation | 0 | 0 | 0 | 0 | 553 | 953 | 1,013 |
| Profit before tax | -0 | -0 | 0 | 0 | -2,201 | -3,322 | -1,075 |
| Tax % | 0% | 0% | -29% | -29% | |||
| -0 | -0 | 0 | 0 | -1,560 | -2,374 | -807 | |
| EPS in Rs | 0.00 | -5.32 | -8.10 | -2.75 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 68% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 71% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 4% |
| 1 Year: | 1% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -6% |
| 3 Years: | -8% |
| Last Year: | -17% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0.06 | 0.06 | 0.00 | 2,931 | 2,931 | 2,931 | 2,931 |
| Reserves | -0 | -0 | 17,049 | 14,118 | 12,558 | 10,184 | 10,095 |
| 0 | 0 | 1,691 | 3,842 | 6,662 | 5,909 | 5,310 | |
| 0 | 0 | 1,765 | 4,678 | 7,218 | 9,446 | 9,546 | |
| Total Liabilities | 0 | 0 | 20,504 | 25,568 | 29,368 | 28,470 | 27,881 |
| 0 | 0 | 1,132 | 1,118 | 20,273 | 20,131 | 19,763 | |
| CWIP | 0 | 0 | 17,038 | 19,545 | 1,215 | 717 | 647 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 2,334 | 4,904 | 7,881 | 7,621 | 7,470 | |
| Total Assets | 0 | 0 | 20,504 | 25,568 | 29,368 | 28,470 | 27,881 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| -0 | -0 | 743 | 1,516 | -2,825 | 1,966 | |
| 0 | 0 | -1,891 | -2,189 | -228 | -506 | |
| 0 | 0 | 1,144 | 1,293 | 2,439 | -1,460 | |
| Net Cash Flow | -0 | -0 | -4 | 620 | -614 | 0 |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|
| Debtor Days | 4 | 8 | ||||
| Inventory Days | 420 | 148 | ||||
| Days Payable | 284 | 234 | ||||
| Cash Conversion Cycle | 141 | -77 | ||||
| Working Capital Days | -92 | -213 | ||||
| ROCE % | -200% | 0% | 0% | -9% | -13% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Number of Employees Personnel |
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| Finished Product Capacity Utilization Percentage |
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| Hot Metal Production Volume Tonnes |
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| Hot Rolled Coils (HRC) Production Volume Tonnes |
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| Installed Crude Steel Capacity MTPA |
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| Liquid Steel Production Volume Tonnes |
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| Pig Iron Production Volume Tonnes |
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| Sales Realization (Blended) INR per MT |
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| Total Sales Volume Tonnes |
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Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Change in Directorate
20 Mar - Krishna Kumar Thakur appointed Director (Personnel) effective 19.03.2026, five-year term.
-
Receipt Of Communication From Ministry Of Steel, Government Of India Regarding Appointment Of Shri Anurag Kapil As Director (Finance) On The Board.
18 Mar - Anurag Kapil appointed Director (Finance) of NMDC and NMDC Steel, effective 18-Mar-2026, five-year term.
-
Receipt Of Communication From Ministry Of Steel, Government Of India Regarding Appointment Of Shri Krishna Kumar Thakur As Director (Personnel) On The Board.
17 Mar - Krishna Kumar Thakur appointed Director (Personnel) of NMDC/NMDC Steel per 17.03.2026 order, five-year term.
- Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Feb
-
Board Meeting Outcome for Integrated Filing (Financials) For The Quarter And Nine Months Ended 31.12.2025.
3 Feb - Unaudited Q3/9M FY26 results: Q3 revenue Rs3,007.69cr, Q3 net loss Rs243.97cr; 9M revenue Rs9,762.81cr, loss Rs333.19cr.
Product Portfolio[1]
The product mix of consists of low carbon steel, HSLA & Dual Phase Steel, and API quality steel that can be rolled into thickness range from 1mm to 16 mm. With its capability to roll 1650mm wide HR, the Thin Slab caster at Nagarnar Steel Plant is the widest Mill in the public sector.