NMDC Steel Limited has informed the Exchange regarding outcome of Board meeting held on August 12, 2025.
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NMDC Steel reported unaudited Q1 FY26 results showing a sharp operational turnaround. Revenue from operations jumped to Rs 3,365.22 crore, up about 66% from Rs 2,022.91 crore in the same quarter last year. The company swung back to a profit after tax of Rs 25.56 crore, compared with a loss of Rs 547.25 crore in Q1 FY25, and posted EPS of Rs 0.09 versus a loss of Rs 1.87 earlier. Operating margin turned positive at 12.71%, against a negative 18.80% a year ago, reflecting improved capacity utilisation at the Nagarnar plant. Statutory auditors Sharad & Associates issued an unmodified (clean) limited review opinion, though they noted that the prior year's comparable numbers were reviewed by the predecessor auditor, indicating an auditor change. The debt-equity ratio stood at 0.43 and interest service coverage ratio improved to 1.27 from negative territory.
This is a meaningful positive development for shareholders — the company has returned to profitability with strong revenue growth and a major swing in margins, signalling that the Nagarnar steel plant is stabilising. However, the company's debt remains sizable (Rs 5,709.82 crore) and cumulative losses are still being absorbed, so sustainability of this turnaround will be key for the stock.