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NMDC Ltd

₹ 83.82.11%
14 Jan – close price
🔗nmdc.co.in•BSE: 526371•NSE: NMDC
Market Cap₹ 73,719 Cr.
Current Price₹ 83.8
High / Low₹ 86.8
Stock P/E10.4
Book Value₹ 36.8
Dividend Yield3.94 %
ROCE30.3 %
ROE24.4 %
Face Value₹ 1.00
Sales₹ 26,379 Cr.
OPM33.9 %
Mar Cap₹ 73,719 Cr.

ABOUT

NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power.(Source : 202003 Annual Report Page No:119)

KEY POINTS

Business OverviewFounded in 1958, NMDC is a fully government-owned entity under the Ministry of Steel specializes in the exploration of minerals including copper, rock phosphate, limestone, magnesite, diamond, and tungsten, and produces a variety of products, including high-grade iron ore with 64% Fe content, diamonds, iron ore pellets, etc.[1][2][3]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsLarge Order ReceiptsJv Partnerships AcquisitionsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.NMDC83.8510.3873719.393.941694.4233.536260.8530.2630.2726378.9633.897103.571694.702.2817.570.11
2.Lloyds Metals1238.7037.3567429.750.08567.3989.953651.35154.3338.288903.3429.591805.12572.368.4621.701.06
3.G M D C572.3527.8218200.731.76465.75-8.84527.58-11.0314.062699.8819.40654.21116.562.719.000.04
4.Gravita India1613.4032.8711908.260.3995.9733.321035.5011.6521.504108.939.14362.3195.995.2714.970.20
5.Ashapura Minech.868.9520.848300.740.12105.98117.93952.5057.6718.643728.7514.25398.3896.615.827.950.86
6.MOIL349.1023.587103.671.6170.4440.99348.0519.2418.761496.3227.60301.2870.442.6312.280.00
7.Orissa Minerals4839.50–2903.700.003.14297.4725.137.44-38.5271.85-42.00-38.583.14–-9.03–
–Median: 12 Co.482.522.215003.680.3643.936.06311.0210.2518.71219.0613.56182.2843.922.639.410.2

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
3,3283,7205,8515,3954,0145,4106,4755,3784,8076,5316,9536,6346,261
Expenses
2,4742,5773,6863,3992,8213,3804,3393,0173,3664,1224,9054,1554,257
Operating Profit
8541,1432,1651,9961,1932,0302,1372,3611,4402,4092,0482,4792,004
Other Income
4261881,22528132084387364360374491298381
Profit before tax
1,1881,2173,2862,2011,4072,0002,4052,6281,6872,6302,3512,6442,270
Tax %
25%27%31%25%27%25%39%25%25%26%36%26%25%
Net Profit
8898902,2771,6501,0281,4921,4621,9841,2691,9441,4961,9691,694
EPS in Rs
1.011.012.591.881.171.701.662.261.442.211.702.241.93

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
12,05812,3566,4568,82811,61512,15311,69915,37025,96517,66721,29423,66826,379
Expenses
4,3334,5803,7625,2265,8065,2235,6886,57313,33211,60313,93815,40917,439
Operating Profit
7,7257,7762,6943,6025,8096,9306,0118,79712,6336,0647,3568,2598,940
Other Income
2,1872,1541,6819086645884163497161,9831,0711,5881,543
Interest
20662137401017397578178160
Depreciation
150162217196256279294228287335337373427
Profit before tax
9,7609,7684,0924,2936,1797,1996,1238,90213,0237,6378,0129,2979,895
Net Profit
6,4206,4222,7122,5893,8064,6423,6106,2539,4485,5295,6326,6937,103
EPS in Rs
5.405.402.282.734.015.053.937.1110.756.296.417.618.08
Dividend Payout %
52%53%161%63%36%36%45%36%46%35%38%43%–

Compounded Sales Growth

10 Years:7%
5 Years:15%
3 Years:-3%
TTM:20%

Compounded Profit Growth

10 Years:0%
5 Years:13%
3 Years:-11%
TTM:11%

Stock Price CAGR

10 Years:15%
5 Years:22%
3 Years:26%
1 Year:28%

Return on Equity

10 Years:20%
5 Years:26%
3 Years:24%
Last Year:24%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
396396396316316306306293293293293879879
Reserves
29,59231,93528,72122,20324,03725,64527,22829,46317,58222,03925,11328,70031,427
Borrowings
001,49705003645662,0001,8012,1273,3594,2763,640
Other Liabilities
1,4892,1382,0573,1833,7553,4663,0445,0295,0785,1876,5856,9736,307
Total Liabilities
31,47734,47032,67125,70228,60929,78231,14436,78524,75429,64735,34940,82842,253
Fixed Assets
1,3621,3341,9181,9532,6722,7213,0173,1182,8343,0143,1634,8024,833
Gross Block
2,7702,9452,1712,4063,3693,6814,4794,7964,6835,1775,1297,068–
Accumulated Depreciation
1,4081,6112534536979611,4631,6771,8492,1631,9672,266–
CWIP
5,2777,7109,72311,83112,52013,79215,50117,1281,3041,9683,2354,7375,309
Investments
2505626957277869399869859878879921,1151,303
Other Assets
24,58724,86420,33511,19112,63112,33011,64015,55319,62823,77827,96030,17330,808
Total Assets
31,47734,47032,67125,70228,60929,78231,14436,78524,75429,64735,34940,82842,253

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
3,7214,0071,8622,1333,3813,9522,0537,3306,9141,7527,4391,577
Cash from Investing Activity
3,455-5304,2765,152-1,869-739-277-4,392-3,174310-6,197705
Cash from Financing Activity
-5,801-3,449-6,291-7,249-1,557-3,201-1,753-2,591-4,061-2,068-1,302-2,224
Net Cash Flow
1,37528-15436-441223348-321-5-5958

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
4452454346436951429060119
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
4452454346436951429060119
Working Capital Days
117102454-4953-163094956
ROCE %
34%32%14%16%26%28%23%30%51%29%31%30%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Promoters
60.79%60.79%60.79%60.79%60.79%60.79%60.79%60.79%60.79%60.79%60.79%60.79%
FIIs
6.60%7.33%6.99%8.32%9.91%12.60%12.76%12.60%12.12%11.72%12.21%13.04%
DIIs
20.23%19.39%18.00%17.73%17.33%14.09%14.31%14.08%14.46%15.12%14.48%14.38%
Public
12.34%12.47%14.20%13.16%11.96%12.51%12.12%12.52%12.62%12.35%12.51%11.76%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

NMDC Releases Provisional Iron Ore Production & Sales Data up to March 2026

1st April 2026, 10:36 pm

NMDC Appoints Anurag Kapil as Director (Finance) and CFO from March 31, 2026

1st April 2026, 5:06 am

NMDC Limited Announces Trading Window Closure for Financial Results

31st March 2026, 7:13 pm

NMDC Extends Additional Charge for Director (Commercial) by One Year

31st March 2026, 7:11 pm

NMDC Appoints Shri Krishna Kumar Thakur as Director (Personnel)

20th March 2026, 5:12 am

Published by Other Websites

External media mentions & references

US Moves to Tax Finished Goods: Indian Metals Face New Trade Risks

2nd April 2026, 1:21 pm

India Stocks Set for Lower Open as Trump Ramps Up Iran Threat

2nd April 2026, 8:05 am

Banks, Auto Firms Lead Stocks in Focus: April 2 Market Movers

2nd April 2026, 7:01 am

NMDC Iron Ore Output Soars 51% In March, Sales Climb 40%

1st April 2026, 9:30 pm

Iran War Rattles Metal Stocks: Investors Eye Supply Fears, Select Picks

30th March 2026, 11:41 am

News Articles

Editorial & research coverage

Nifty Metal Tumbles 3% on Profit Booking; Analysts Urge 'Buy the Dip'
Nifty Metal Tumbles 3% on Profit Booking; Analysts Urge 'Buy the Dip'

13th February 2026, 11:29 am

NMDC Price Hike Amidst Soaring Costs Sparks Investor Scrutiny
NMDC Price Hike Amidst Soaring Costs Sparks Investor Scrutiny

10th February 2026, 9:47 am

Metal Stocks Plunge 7% as Profit Booking, Stronger Dollar Hit Shares
Metal Stocks Plunge 7% as Profit Booking, Stronger Dollar Hit Shares

5th February 2026, 10:51 am

Adani Power, NMDC, IDBI Bank: Breakout Stocks Defy Market Flatness
Adani Power, NMDC, IDBI Bank: Breakout Stocks Defy Market Flatness

4th February 2026, 6:07 pm

Indian Markets Hit 3-Week High Amid IT Sector AI Sell-Off
Indian Markets Hit 3-Week High Amid IT Sector AI Sell-Off

4th February 2026, 4:05 pm

Documents

Announcements

Announcement under Regulation 30 (LODR)-Change in Directorate

9h - Shri Joydeep Dasgupta assigned additional charge of Director (Personnel) from 01.02.2026 to 30.04.2026.

Announcement under Regulation 30 (LODR)-Change in Directorate

9 Jan - Shri Vinay Kumar assigned additional charge as Director (Commercial) until 06.04.2026 (three months).

Prices Of Iron Ore W.E.F. 09Th January 20206

9 Jan - Iron ore prices effective 09-Jan-2026: Baila Lump ₹4,600/ton; Baila Fines ₹3,900/ton (exclusive of taxes).

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

8 Jan - Compliance certificate under Reg 74(5) for quarter ended 31 Dec 2025; RTA Aarthi Consultants.

Announcement under Regulation 30 (LODR)-Change in Directorate

7 Jan - Shri Vishwanath Suresh appointed CMD of MOIL; ceased as NMDC Director effective 07.01.2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

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Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Financial Year 2011

(from bse)

Credit Ratings

Rating update

27 May 2025 from crisil

Rating update

4 Feb 2025 from crisil

Rating update

3 Jan 2025 from crisil

Rating update

20 Sep 2024 from crisil

Rating update

7 Nov 2023 from crisil

Rating update

26 May 2023 from crisil

Concalls

Oct 2025

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Recording

Stock Analysis

Description

  1. NMDC Limited is a major Indian public sector undertaking, primarily engaged in the exploration and production of iron ore, diamonds, and other minerals, playing a significant role in the country's mining and metals sector.

Key Growth Triggers

  1. Ongoing operational growth in iron ore production and sales, indicating strong market demand and operational efficiency.
  2. Strategic pricing adjustments for iron ore products, aiming to optimize revenue streams.
  3. Initiatives in international business via a proposed GIFT City subsidiary and research collaborations, such as the MoU with Colorado School of Mines for mining technology advancements.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Significant contingent liabilities exist, notably a potential ₹14,748 crore tax bill from Karnataka and over ₹3,200 crore in other legal demands, which remain sub-judice.

Key Dates To Watch

  1. New iron ore prices effective January 9, 2026.
  2. Additional charge for Director (Personnel) from February 1, 2026, for three months.

Corporate Announcements

1st Apr 26
Impact Rating: 9
NMDC Limited disclosed provisional Iron Ore production and sales data up to March 2026. Cumulative production reached 53.15 MT (sales: 44.07 MT), and monthly figures for March 2026 were 5.35 MT (sales: 5.90 MT).
31st Mar 26
Impact Rating: 7
NMDC Limited has appointed Shri Anurag Kapil as Director (Finance) and ex-officio Chief Financial Officer (CFO) and Key Managerial Person (KMP) for a five-year term, effective March 31, 2026, bringing over 26 years of experience.
31st Mar 26
Impact Rating: 5
NMDC Limited is closing its trading window for dealing in securities from April 1, 2026. The window will reopen 48 hours after the declaration of its Q4 and FY2026 financial results, covering both standalone and consolidated statements.
31st Mar 26
Impact Rating: 3
NMDC Limited announced the extension of Shri Vinay Kumar's additional charge as Director (Commercial) by one year, effective April 7, 2026, as per Ministry of Steel communication.
19th Mar 26
Impact Rating: 6
NMDC Limited announced the appointment of Shri Krishna Kumar Thakur as Director (Personnel), effective March 19, 2026. The appointment is for a period of five years, following an order from the Ministry of Steel.