Nmdc Limited (NMDC) · mywealthgrid

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About

Nmdc Limited operates in industrial minerals within the Materials sector with a market cap of ₹74,202.79 Cr. Recent quarterly revenues range between ₹6,260 Cr and ₹11,343 Cr, and the company maintains strong profitability (ROE 24.94%, OPM 28.87%) with conservative leverage (D/E 0.17).

Face value: ₹1

Market cap

₹65,622 Cr

P/E

8.8×

P/B

1.9×

Dividend yield

7.8%

ROE

24.9%

ROCE

32.4%

Debt / equity

0.17

OPM

28.9%

EPS (TTM)

₹8.5

Book value

₹38.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin compressed sharply from 37.36% (Jun 2025) to 23.31% (Mar 2026)—a 14-point decline. Verify whether this reflects commodity input costs, freight inflation, product mix, or structural headwinds.

Quarterly revenues highly volatile: ₹6,260 Cr (Sep 2025) to ₹11,343 Cr (Mar 2026). Verify drivers—whether seasonal, demand-driven, or capacity-related—and assess sustainability.

Commodity price exposure inherent to mining; current margins already compressed. Verify price trends for key products and any hedging practices in place.

Mining faces evolving environmental and regulatory compliance requirements. Verify status of approvals, pending regulations, and scope of future compliance or operational constraints.

Generated analysis · source review pending

Growth drivers

Mar 2026 revenue of ₹11,343 Cr represents 78% growth from Sep 2025 (₹6,378 Cr)—verify whether this reflects sustainable demand/capacity gains, new assets, or temporary seasonal/one-off factors.

EPS improved from ₹1.93 (Sep 2025) to ₹2.31 (Mar 2026), and regular dividends (Feb 2026, Aug 2025, Mar 2025) indicate strong underlying cash generation.

D/E ratio of 0.17 leaves substantial debt capacity for growth capex, acquisitions, or capacity expansion—verify management's capital allocation priorities and growth strategy.

ROE 24.94% shows efficient capital deployment; if this efficiency persists as volumes scale, earnings per share could accelerate—verify production capacity trends and whether unit economics improve at higher volumes.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹74.6-3.1%1Y

Quick read

rule-based

Pros

+Strong return on equity of 22.6% (3-yr avg)
+High return on capital employed of 28.6%
+Healthy operating margin of 28.9%
+Profit CAGR of 15.8% over the last 5 years
+Revenue CAGR of 22.3% over the last 5 years
+Comfortable interest coverage of 84.7×
+Dividend yield of 7.8%
+Dividend payout of 68.4% of profit
+High promoter holding of 60.8% with no pledge

Cons

No red flags triggered.

Research score

Structured signal from quality, growth, valuation and momentum.

67/100

Business quality: 88

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Part ofNIFTY MIDCAP 50 NIFTY MIDCAP 150 NIFTY 200 NIFTY MIDSMALLCAP 400 NIFTY 500

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lloyds Metals And Energy LimitedLLOYDSMELLOYDSME	₹1,00,016 Cr	₹1,20,397 Cr	₹22,084 Cr	₹8,129 Cr	35.9%	₹4,766 Cr	22.4%	31.1%	36.3%	31
Nmdc LimitedNMDCNMDC	₹65,622 Cr	₹71,496 Cr	₹32,127 Cr	₹9,249 Cr	28.9%	₹7,459 Cr	23.2%	32.4%	24.9%	226
Gujarat Mineral Development Corporation LimitedGMDCLTDGMDCLTD	₹15,507 Cr	₹15,816 Cr	₹2,827 Cr	₹466 Cr	16.7%	₹956 Cr	36.1%	9.8%	14.2%	-17
Gravita India LimitedGRAVITAGRAVITA	₹10,425 Cr	₹11,157 Cr	₹4,700 Cr	₹444 Cr	10.2%	₹392 Cr	8.9%	19.3%	16.8%	139
Moil LimitedMOILMOIL	₹4,735 Cr	₹4,735 Cr	₹976 Cr	₹137 Cr	33.3%	₹74 Cr	24.1%	18.4%	12.5%	—
Ashapura Minechem LimitedASHAPURMINASHAPURMIN	₹4,679 Cr	₹6,123 Cr	₹5,498 Cr	₹554 Cr	10.6%	₹411 Cr	8%	21.6%	27.8%	-22
The Orissa Minerals Development Company LimitedORISSAMINEORISSAMINE	₹2,123 Cr	₹2,264 Cr	₹103 Cr	₹17 Cr	9.7%	₹3 Cr	-3.1%	12.3%	—	167
20 Microns Limited20MICRONS20MICRONS	₹732 Cr	₹877 Cr	₹951 Cr	₹124 Cr	12.9%	₹68 Cr	7%	21%	14.6%	126
Nile LimitedNILENILE	₹373 Cr	₹395 Cr	₹920 Cr	₹56 Cr	6.1%	₹31 Cr	4%	20.1%	14.7%	—
Goa Carbon LimitedGOACARBONGOACARBON	₹371 Cr	₹538 Cr	₹563 Cr	₹-25 Cr	-4%	₹-47 Cr	-6.9%	-9.7%	-25%	106
ASI Industries LtdASIILASIIL	₹204 Cr	₹314 Cr	₹238 Cr	₹-14 Cr	-6%	₹-56 Cr	-23.5%	-11.8%	-17.4%	219
Southern Magnesium & Chemicals LtdSOUTHMGSOUTHMG	₹23 Cr	₹28 Cr	₹2 Cr	₹0 Cr	0.9%	₹-0 Cr	3.9%	4.9%	1%	1,452

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2026
	11,699	15,370	25,882	17,667	21,308	32,071
COGS	226	138	-697	-426	-72	6,350
Gross profit	11,473	—	—	—	—	25,721
	5,500	6,414	14,008	11,977	14,085	16,425
	5,973	8,818	12,570	6,116	7,295	9,295
OPM %	51.1%	57.4%	48.6%	34.6%	34.2%	29%
Depreciation	295	229	288	336	351	477
Interest	10	17	39	75	78	121
	417	352	718	2,005	1,089	1,488
Profit before tax	6,086	8,925	12,961	7,710	7,955	10,185
Tax	2,513	2,648	3,582	2,108	2,380	2,734
Tax %	41.3%	29.7%	27.6%	27.4%	29.9%	26.9%
	3,573	6,277	9,379	5,601	5,575	7,450
PAT margin %	30.5%	40.8%	36.2%	31.7%	26.2%	23.2%
EPS (₹)	11.7	20.7	32	19.1	19	8.5
EPS adjusted (₹)	3.9	7	10.7	6.5	6.3	8.5
	45.3%	37.5%	46.1%	34.5%	38.1%	—
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	—

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	396	316	316	306	306	293	293	293	293	879	879
Reserves	32,095	22,266	24,101	25,738	27,367	29,591	34,694	22,342	25,380	28,817	33,183
Minority interest	16	15	15	14	8	14	13	—	—	11	14
	1,497	500	500	364	1,112	1,994	3,483	423	3,357	3,770	5,874
	347	2,686	3,759	3,469	2,501	5,038	6,368	5,190	6,632	7,529	8,370
Total equity & liabilities	34,353	25,784	28,691	29,891	31,294	36,930	44,852	28,248	35,661	41,007	48,320
	1,453	2,095	3,457	3,512	3,802	3,933	4,795	3,191	3,377	3,496	5,856
CWIP	7,742	11,855	12,545	13,819	15,500	17,107	18,325	1,992	3,231	4,737	6,749
Investments	614	612	673	859	910	875	895	935	956	975	1,372
	24,543	11,221	12,016	11,701	11,082	15,015	20,837	22,130	28,098	31,799	34,344
Total assets	34,353	25,784	28,691	29,891	31,294	36,930	44,852	28,248	35,661	41,007	48,320

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Iron Ore	25,014.72	9,845.62	25,236.73	7,109.44	18,127.29	54.31
HR Coil & Sheets	3,960.86	16.31

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2026
Margins
Gross margin %	98.1%	—	—	—	—	80.2%
EBITDA margin %	51.3%	57.2%	48.6%	34.3%	34.2%	28.9%
EBIT margin %	48.8%	55.7%	47.5%	32.4%	32.6%	27.4%
PAT margin %	30.5%	40.8%	36.2%	31.7%	26.2%	23.2%
Working capital
Receivable days	69	51	42	55	60	105
Inventory days	1,170	51	59	84	72	145
Payable days	3	20	27	13	11	23
NWC days	1,236	82	75	125	121	226
Leverage
Current ratio	2.49	1.96	2.28	3.76	2.56	2.43
Debt to EBITDA	0.19	0.23	0.28	0.07	0.46	0.63
Debt to equity	0.04	0.07	0.1	0.02	0.13	0.17
Interest coverage	629.7	530.2	333.2	86.2	106.2	84.7
Asset turnover	0.37	0.42	0.58	0.63	0.6	0.66
Return ratios
Return on assets %	11.4%	17%	20.9%	19.8%	15.6%	15.4%
Return on capital employed %	21.8%	29.7%	37.5%	20.9%	32.4%	32.4%
Return on equity %	12.9%	21%	26.8%	24.7%	21.7%	21.9%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%
	8.32%	9.91%	12.6%	12.76%	12.6%	12.12%	11.72%	12.21%	13.04%	13.47%	13.6%	13.59%
	17.73%	17.34%	14.11%	14.32%	14.08%	14.47%	15.13%	14.48%	14.39%	14.07%	13.76%	13.81%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	13.16%	11.96%	12.5%	12.13%	12.53%	12.62%	12.36%	12.52%	11.78%	11.67%	11.85%	11.81%
No. of shareholders	—	—	—	—	—	—	—	—	11,20,444	11,15,697	11,30,914	11,29,202

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F&O

Current futures and options contracts with compact option-chain pages.

End of day 30 Sept 2026 · underlying ₹76.5 · volume and open interest in contracts

3

Expiry	Close	Chg	% Chg	Settlement	Open interest	Change in OI	Volume	Lot size
27 Oct 2026	₹76.5	-0.3	-0.4%	₹76.5	53,716	+131	1,719	6750
23 Nov 2026	₹77.0	-0.2	-0.3%	₹77.0	954	+39	160	6750
29 Dec 2026	₹77.4	-0.7	-0.9%	₹77.4	15	+15	18	6750

Open the chart icon on a row for that contract's close over 103 stored sessions, with open interest as bars beneath it.

35

27 Oct 2026 23 Nov 2026 29 Dec 2026

Calls				Strike	Puts
OI	Chg OI	Volume	LTP	—	LTP	Volume	Chg OI	OI
0	0	0	₹0.0	64

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 20 fund houses

Held by these funds

2.56%

of the company's equity

All mutual funds

6.91%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

99 schemes · 20 fund houses

		Shares
Flexicap Fund	SBI Mutual Fund	3.13 Cr	276.07	1.19%	0.356%	-0
Contra Fund	SBI Mutual Fund	2.85 Cr	251.71	0.53%	0.325%	-0
Arbitrage FundNEW	SBI Mutual Fund	2.56 Cr	225.4	0.48%	0.291%	—
Growth Mid Cap FundNEW	Nippon India Mutual Fund	2.25 Cr	198.68	0.38%	0.256%	—
PSU Fund	SBI Mutual Fund	1.99 Cr	175.52	2.62%	0.226%	-80 L
Arbitrage Fund	Nippon India Mutual Fund	1.18 Cr	103.89	0.59%	0.134%	+3.38 L
Quant Fund	SBI Mutual Fund	86.42 L	76.22	2.61%	0.098%	-5.63 L
Arbitrage Fund	Axis Mutual Fund	65.61 L	57.87	0.55%	0.075%	+4.79 L

1–8 of 99

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Investor Presentation and earnings call

Jun 2026Transcript AI Summary PPT REC

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

29 announcementsExport CSV

1 Oct 2026, 5:01 pmCompany Update

Announcement under Regulation 30 (LODR)-Monthly Business Updates

Monthly Business Updates PDF

30 Sept 2026, 5:06 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 3:08 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

28 Sept 2026, 7:32 pmAGM/EGM

Proceedings Of 68Th Annual General Meeting Of NMDC Limited Held On 28Th September 2026.

AGM PDF

27 Sept 2026, 4:25 pmCompany Update

Press Release - NMDC Commissions Rs 5,427 Crore Iron Ore Processing Plant, Slurry Pipeline And Pellet Plant In Bastar, Chhattisgarh.

General PDF

18 Sept 2026, 10:02 pmCompany Update

Press Release - NMDC Sets Net Zero Target For Operational Emissions By 2047.

General PDF

9 Sept 2026, 7:44 amCompany Update

Prices Of Iron Ore W.E.F. 09.09.2026

General PDF

8 Sept 2026, 8:37 pmCompany Update

Change In Statutory Auditors Of The Company.

General PDF

Date	Category	Subject	Filing
1 Oct 2026, 5:01 pm	Company Update Monthly Business Updates	Announcement under Regulation 30 (LODR)-Monthly Business Updates	PDF
30 Sept 2026, 5:06 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

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Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2026
Margins
Gross margin %	98.1%	—	—	—	—	80.2%
EBITDA margin %	51.3%	57.2%	48.6%	34.3%	34.2%	28.9%
EBIT margin %	48.8%	55.7%	47.5%	32.4%	32.6%	27.4%
PAT margin %	30.5%	40.8%	36.2%	31.7%	26.2%	23.2%
Working capital
Receivable days	69	51	42	55	60	105
Inventory days	1,170	51	59	84	72	145
Payable days	3	20	27	13	11	23
NWC days	1,236	82	75	125	121	226
Leverage
Current ratio	2.49	1.96	2.28	3.76	2.56	2.43
Debt to EBITDA	0.19	0.23	0.28	0.07	0.46	0.63
Debt to equity	0.04	0.07	0.1	0.02	0.13	0.17
Interest coverage	629.7	530.2	333.2	86.2	106.2	84.7
Asset turnover	0.37	0.42	0.58	0.63	0.6	0.66
Return ratios
Return on assets %	11.4%	17%	20.9%	19.8%	15.6%	15.4%
Return on capital employed %	21.8%	29.7%	37.5%	20.9%	32.4%	32.4%
Return on equity %	12.9%	21%	26.8%	24.7%	21.7%	21.9%

5 deals · 5 Aug 2022 – 29 Feb 2024

Date	Client	Type	Venue	Side	Quantity	Price	Value
29 Feb 2024	BNP PARIBAS ARBITRAGE	Bulk	NSE	Sell	3,32,36,062	₹225.68	₹750.07 Cr
25 Jan 2024	MARSHALL WACE INVESTMENT STRATEGIES - EUREKA FUND	Block	BSE	Buy	10,87,409	₹211.80	₹23.03 Cr
25 Jan 2024	BNP PARIBAS ARBITRAGE	Block	BSE	Sell	10,87,409	₹211.80	₹23.03 Cr
5 Aug 2022	RELIANCE MUTUAL FUND	Bulk	NSE	Sell	7,46,81,276	₹110.81	₹827.54 Cr
5 Aug 2022	INTEGRATED CORE STRATEGIES (ASIA) PTE. LTD.	Bulk	NSE	Buy	4,10,60,302	₹110.88	₹455.28 Cr

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Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Calls	Strike	Puts
0	0	0	₹0.0	64

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,862	2,109	3,376	4,002	2,126	7,266	7,639	2,466	7,395	1,894	4,993
	4,276	5,171	-1,865	-789	-313	-4,316	-5,066	43	-6,076	306	-3,839
	-6,291	-7,249	-1,557	-3,201	-1,753	-2,591	-2,916	-2,537	-1,302	-2,225	-1,092
Net cash flow	-154	31	-46	11	60	359	-343	-28	16	-25	63
Free cash flow	—	—	—	—	—	7,266	7,639	1,064	5,548	—	1,822
CFO / Operating profit %	—	—	—	—	35.4%	82.7%	60.7%	40.7%	101.4%	—	53.9%

Nmdc Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

3

35

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

40

1

2

Announcements

Annual reports

Investor Presentation and earnings call

3

35

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

HR Coil & Sheets · revenue

Nmdc Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

F&O

Futures3

Option chain35

Fund holders

Documents

Announcements

Annual reports

Investor Presentation and earnings call

Events

Announcements

Ratio timeline

Quarterly record

Dividends40

Board meetings1

Bonus issues2

Bulk & block deals

Board and management

Announcements

Annual reports

Investor Presentation and earnings call

Futures3

Option chain35

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

HR Coil & Sheets · revenue

3

35

40

1

2

3

35