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 ₹ 13,487 Cr.
- Current Price ₹ 46.0
- High / Low ₹ 53.8 / 33.0
- Stock P/E 161
- 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 1.02 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 Nifty MidSmallcap 400 BSE PSU Nifty 500 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 | TTM | |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 3,049 | 8,503 | 13,642 | 13,938 | |
| 0 | 0 | 0 | 0 | 4,485 | 10,291 | 12,124 | 12,428 | |
| Operating Profit | -0 | -0 | 0 | 0 | -1,436 | -1,788 | 1,518 | 1,510 |
| OPM % | -47% | -21% | 11% | 11% | ||||
| 0 | 0 | 0 | 0 | 119 | 72 | 86 | 109 | |
| Interest | 0 | 0 | 0 | 0 | 331 | 652 | 487 | 479 |
| Depreciation | 0 | 0 | 0 | 0 | 553 | 953 | 1,042 | 1,026 |
| Profit before tax | -0 | -0 | 0 | 0 | -2,201 | -3,322 | 76 | 114 |
| Tax % | 0% | 0% | -29% | -29% | 23% | |||
| -0 | -0 | 0 | 0 | -1,560 | -2,374 | 59 | 84 | |
| EPS in Rs | 0.00 | -5.32 | -8.10 | 0.20 | 0.29 | |||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | 42% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 467% |
| 3 Years: | % |
| TTM: | 105% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -7% |
| 1 Year: | 8% |
| 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 2024 | Mar 2025 | |
|---|---|---|
| Capacity Utilization (Finished Products) % |
|
|
| Hot Metal Production tonnes |
||
| Hot Rolled Coils Production tonnes |
||
| Pig Iron / Semi-finished Share in Sales Mix % |
||
| SAIL Revenue Share % |
||
| Sales Volume mt |
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Extracted by Screener AI
Documents
Announcements
-
Business Responsibility and Sustainability Reporting (BRSR)
- Filed FY26 BRSR; disclosed ₹1.01 crore environmental penalty and stock-exchange governance fines.
- Reg. 34 (1) Annual Report.
-
Clarification With Regard To 'Spurt In Volume'
- Company clarifies volume spike, cites June quarter results and rating upgrade, with no new disclosures.
-
Clarification sought from NMDC Steel Ltd
- Exchange has sought clarification from NMDC Steel Ltd on August 28, 2026, with reference to Movement in Volume.
-
Clarification With Regard To 'Spurt In Volume'
- NMDC Steel clarifies spurt in volume; cites 14 Aug results and CRISIL upgrade, with no new disclosures.
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.