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 ₹ 13,337 Cr.
- Current Price ₹ 45.5
- High / Low ₹ 53.8 / 33.0
- Stock P/E 227
- Book Value ₹ 45.0
- Dividend Yield 0.00 %
- ROCE 3.06 %
- ROE 0.45 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Stock is trading at 1.01 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 -8.86% over last 3 years.
* 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 Nifty500 Shariah BSE CPSE
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 3,049 | 8,503 | 13,642 | |
| 0 | 0 | 0 | 0 | 4,485 | 10,291 | 12,124 | |
| Operating Profit | -0 | -0 | 0 | 0 | -1,436 | -1,788 | 1,518 |
| OPM % | -47% | -21% | 11% | ||||
| 0 | 0 | 0 | 0 | 119 | 72 | 86 | |
| Interest | 0 | 0 | 0 | 0 | 331 | 652 | 487 |
| Depreciation | 0 | 0 | 0 | 0 | 553 | 953 | 1,042 |
| Profit before tax | -0 | -0 | 0 | 0 | -2,201 | -3,322 | 76 |
| Tax % | 0% | 0% | -29% | -29% | 23% | ||
| -0 | -0 | 0 | 0 | -1,560 | -2,374 | 59 | |
| EPS in Rs | 0.00 | -5.32 | -8.10 | 0.20 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 60% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 467% |
| 3 Years: | % |
| TTM: | 102% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 0% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | -5% |
| 3 Years: | -9% |
| Last Year: | 0% |
Balance Sheet
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| 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 | 10,243 |
| 0 | 0 | 1,691 | 3,842 | 6,662 | 5,909 | 4,613 | |
| 0 | 0 | 1,765 | 4,678 | 7,218 | 9,446 | 10,451 | |
| Total Liabilities | 0 | 0 | 20,504 | 25,568 | 29,368 | 28,470 | 28,237 |
| 0 | 0 | 1,132 | 1,118 | 20,273 | 20,131 | 19,452 | |
| CWIP | 0 | 0 | 17,038 | 19,545 | 1,215 | 717 | 570 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 2,334 | 4,904 | 7,881 | 7,621 | 8,215 | |
| Total Assets | 0 | 0 | 20,504 | 25,568 | 29,368 | 28,470 | 28,237 |
Cash Flows
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| -0 | -0 | 743 | 1,516 | -2,825 | 1,966 | 1,796 | |
| 0 | 0 | -1,891 | -2,189 | -228 | -506 | 109 | |
| 0 | 0 | 1,144 | 1,293 | 2,439 | -1,460 | -1,902 | |
| Net Cash Flow | -0 | -0 | -4 | 620 | -614 | 0 | 2 |
| Free Cash Flow | -0 | -0 | -1,148 | -639 | -3,409 | 1,538 | 1,525 |
| CFO/OP | 100% | 100% | 196% | -110% | 118% |
Ratios
Figures in Rs. Crores
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 4 | 8 | 5 | ||||
| Inventory Days | 420 | 148 | 160 | ||||
| Days Payable | 284 | 234 | 248 | ||||
| Cash Conversion Cycle | 141 | -77 | -83 | ||||
| Working Capital Days | -92 | -213 | -175 | ||||
| ROCE % | -200% | 0% | 0% | -9% | -13% | 3% |
Insights
In beta| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Number of Employees Personnel |
|
||
| Finished Product Capacity Utilization Percentage |
|||
| Hot Metal Production Volume Tonnes |
|||
| Hot Rolled Coils (HRC) Production Volume Tonnes |
|||
| Installed Crude Steel Capacity MTPA |
|||
| Liquid Steel Production Volume Tonnes |
|||
| Pig Iron Production Volume Tonnes |
|||
| Sales Realization (Blended) INR per MT |
|||
| Total Sales Volume Tonnes |
|||
Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 1 Jun
-
Outcome Of Board Meeting - Audited Financial Results For The Quarter & Financial Year Ended 31St March 2026
29 May - NMDC Steel approved FY26 audited results; revenue rose to ₹13,641.81 crore, profit ₹58.72 crore.
-
Board Meeting Outcome for Outcome Of Board Meeting - Audited Financial Results For The Quarter & Financial Year Ended 31St March 2026
29 May - Board approved audited FY2026 results on 29 May 2026; auditors issued unmodified opinion.
-
Compliances-Reg.24(A)-Annual Secretarial Compliance
28 May - NMDC Steel filed Annual Secretarial Compliance Report for FY ended 31 March 2026.
-
Board Meeting Intimation for Audited Financial Results Of The Company For The Quarter And Financial Year Ended 31St March 2026.
25 May - Board meeting on 29 May 2026 to approve FY26 audited results; trading window closed till 31 May 2026.
History[1][2]
NMDC Steel Limited is a demerged subsidiary
of NMDC Ltd. Incorporated in 2015 and formally demerged in 2022, the plant commissioned its blast furnace and commenced hot-rolled coil production in August 2023 and was finally commissioned in October 2023. FY25 marks its first full year of commercial operations, with the company reporting production ramp-up across all core units - making this an early-stage ramp-up story with structural cost advantages through its NMDC parentage.