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 ₹ 12,303 Cr.
- Current Price ₹ 42.0
- High / Low ₹ 49.6 / 32.9
- 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 0.94 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.
* 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: | 10% |
| 1 Year: | 20% |
| 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 |
| Free Cash Flow | -0 | -0 | -1,148 | -639 | -3,409 | 1,538 |
| CFO/OP | 100% | 100% | 196% | -110% |
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
-
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Compliance certificate under Regulation 74(5) for quarter ended 31 March 2026.
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Disclosure Under Regulation 31(4) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011.
6 Apr - Promoter disclosed 60.79% stake as of 31 March 2026; no share encumbrance.
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Announcement under Regulation 30 (LODR)-Change in Management
31 Mar - Anurag Kapil appointed Director (Finance)/CFO w.e.f. 31.03.2026; K. Raj Shekhar ceased.
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Announcement under Regulation 30 (LODR)-Change in Directorate
31 Mar - Shri Anurag Kapil appointed Director (Finance) of NMDC Steel effective 31-Mar-2026 for five years.
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Extension Of Additional Charge Of The Post Of Director (Commercial), NMDC Steel Ltd. To Shri Vinay Kumar, Director (Technical).
31 Mar - Extension of Director (Commercial) additional charge to Vinay Kumar for one year from 07.04.2026.
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.