Mines and sells iron ore — lumps and fines — to Indian steel producers, with Iron Ore accounting for 78.6% of segment revenue in FY26. Also produces hot-rolled coils and sheets (12.4% of segment revenue) and pellets, other minerals and services (9.0%). Set an FY26 aspirational sales target of 55.4 MT, equal to 100% of available environmental clearance capacity, with a stated 4-5 year plan to scale volumes from about 50 MT toward 100 MT. Operates the Nagarnar steel plant (NSL), which turned monthly EBITDA-positive in March-April 2025 and is dispatching 230 KT a month, and is scaling pellet capacity from 0.5 MT toward 2.5-3 MT with a shift to higher-grade DRI pellets. Iron ore prices are reset every month based on market conditions. The cost shape is dominated by 'other operating expenses' at 45.3% of revenue, with materials at 6.8% and employees at 6.0%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Iron Ore (79%), HR Coil & Sheets (12%), Pellet, Other Minerals, Products & Services (9%). Cyclical, commodity-linked iron ore mining with downstream steel-making (HR coils/sheets) and pellet operations
| ₹ crore · consolidated | FY21 | FY22 | FY23 | FY24 | FY26 |
|---|---|---|---|---|---|
| Revenue | 15,370 | 25,882 | 17,667 | 21,308 | 32,071 |
| EBITDA (ex other income) | 8,789 | 12,583 | 7,290 | 7,009 | 9,260 |
| margin % | 57.2 | 48.6 | 41.3 | 32.9 | 28.9 |
| Owners' profit | 6,156 | 9,420 | 5,706 | 5,575 | 7,450 |
| EPS, as reported (₹) | 20.70 | 32.00 | 19.11 | 19.02 | 8.47 |
| ROE % · ROCE % | 21.0 · 28.4 | 26.8 · 34.3 | 24.7 · 32.1 | 21.7 · 29.5 | 21.9 · 28.4 |
| Debt / equity (x) | 0.07 | 0.10 | 0.02 | 0.13 | 0.17 |
| Cash from operations | 7,266 | 7,639 | 2,466 | 7,395 | 4,993 |
| Capex | 0 | 0 | (1,401) | (1,847) | (3,171) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5,414 | 4,919 | 6,568 | 6,739 | 6,378 | 7,611 | 11,343 | 6,795 |
| Profit before tax | 2,608 | 1,614 | 2,584 | 2,643 | 2,259 | 2,375 | 2,873 | 2,691 |
| Net profit | 1,971 | 1,212 | 1,882 | 1,968 | 1,699 | 1,757 | 2,027 | 1,976 |
| EPS (₹) | 6.72 | 4.13 | 2.14 | 2.24 | 1.93 | 2.00 | 2.31 | 2.25 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Iron Ore | 25,015 | 77.3 |
| HR Coil & Sheets | 2,947 | 9.1 |
| Pellet ,Other Minerals, Products, Services & Others | 1,116 | 3.4 |
| Pellet ,Other Minerals, Products & Services | 3,285 | 10.1 |
| Total, before eliminations | 32,362 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · NMDC fixes iron ore prices effective Sept 9, 2026 | business updates | medium | — | — |
| 8 Sept 2026 · NMDC appoints new statutory auditors and branch auditors | management changes | medium | — | — |
| 8 Sept 2026 · NMDC notice on special window to demat and transfer old physical shares | compliance | minimal | — | — |
| 7 Sept 2026 · NMDC 68th AGM on Sep 28, e-voting from Sep 24 to 27 | compliance | minimal | — | — |
| 7 Sept 2026 · NMDC 68th AGM notice published; final dividend of Re 1 per share proposed | compliance | minimal | — | — |
| 6 Sept 2026 · NMDC files BRSR for FY26 with Bureau Veritas assurance | compliance | medium | — | — |
| 6 Sept 2026 · NMDC files Annual Report 2025-26, 68th AGM on September 28 | board shareholder meetings | medium | — | — |
| 2 Sept 2026 · NMDC incorporates wholly owned subsidiary in GIFT City | strategic transactions | medium | — | — |
| 1 Sept 2026 · NMDC August 2026 iron ore production up 21%, sales up 6% YoY | business updates | medium | — | — |
| 27 Aug 2026 · NMDC: Government Director Ashish Chatterjee ceases on Board | management changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| LLOYDS METALS N ENERGY L |
| 1,01,435 |
| 20.4 |
| 7.11 |
| 18.9 |
| 26.8 |
| 17.7 |
| 132.2 |
| 39.6 |
| NMDC LTD. ◆ | 72,444 | 9.7 | 2.13 | 7.3 | 21.9 | 28.0 | 15.8 | 41.4 |
| GUJARAT MINERAL DEV CORP | 18,345 | 19.2 | 2.59 | 13.3 | 13.5 | 15.5 | 14.7 | 29.5 |
| GRAVITA INDIA LIMITED | 12,457 | 31.4 | 5.07 | 25.6 | 15.4 | 17.2 | 24.8 | 10.7 |
| ASHAPURA MINECHEM LTD | 5,179 | 12.7 | 3.15 | 9.4 | 25.3 | 15.0 | 35.5 | 11.7 |
| MOIL LIMITED | 4,996 | 78.7 | 1.85 | 11.2 | 0.3 | 0.4 | — | 35.6 |
| ORISSA MIN DEV CO LTD | 2,388 | — | — | — | (0.7) | 0.5 | — | 52.8 |
| 20 MICRONS LTD | 736 | 10.9 | 1.51 | 6.3 | 13.7 | 16.9 | 14.6 | 13.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.7 | 16.4 | 2 of 11 | 90% |
| P/B | 2.1 | 2.1 | 7 of 13 | 50% |
| ROCE | 28.0 | 8.4 | 1 of 14 | 100% |
| ROE | 21.9 | 7.3 | 3 of 14 | 85% |
| Debt / Equity | 0.2 | 0.3 | 6 of 14 | 62% |
| EBITDA margin | 41.4 | 13.8 | 2 of 13 | 92% |
| Revenue growth | 0.8 | 19.2 | 9 of 13 | 33% |
| Profit growth | 0.4 | 9.8 | 9 of 14 | 39% |
| Market cap | 72444 | 1562 | 2 of 14 | 92% |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
