NMDC Steel Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.
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NMDC Steel reported a strong operational turnaround in Q1 FY26, with revenue from operations rising about 66% year-on-year to ₹3,365.22 crore from ₹2,022.91 crore in Q1 FY25. The company swung to a profit of ₹25.56 crore from a loss of ₹547.25 crore in the same quarter last year. Operating margin improved sharply from -18.80% to +12.71%, reflecting better realisations and cost absorption as the Nagarnar plant stabilised. Total borrowings stood at ₹5,709.82 crore with a debt-to-equity ratio of 0.43. The auditor (Sharad & Associates) issued an unmodified limited review opinion, and there are no going concern flags.
This is a significant positive for shareholders, marking the company's first quarterly profit in recent memory and a clear sign of operational improvement. However, investors should watch the upcoming ₹523.80 crore NCD redemption on August 28, 2025, and the continued high finance costs as the key near-term risks.