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Earnings Call

NMDC Earnings Call: Key Takeaways

NMDC achieved a major milestone crossing 50MT production in FY26, signaling a pivot toward aggressive volume expansion despite sluggish pricing environment.

Why this was an Alfa AlertProduction beat: Guided 50MT, achieved 53MT (6% beat); Future growth: Explicitly guided 67% volume growth by 2030 (100MT vs 60MT).
Highlights
Revenue growthAnnual sales revenue reached record ₹31,000 crores, driven by volume beats.
MarginsIron ore EBITDA stable at 42%; steel trading slightly dragged consolidated margins.
Demand visibilityStrong domestic steel demand visible; major customers expanding capacities significantly.
Management confidenceExtremely bullish; management fast-tracking Maharatna status and 100MT production goals.

Growth

PAT grew 11% YoY; volume-led growth with 53MT production surpassing all prior internal expectations.

Outlook

Targeting 60MT in FY27 and 100MT by 2030; Capex rising to ₹6000-10000cr annually.

Risks

High receivables from RIANL and sluggish iron ore prices could squeeze future cash flows.

Source

Earnings Call filed with NSE, NSE: NMDC. Summary written with AI assistance from the document.

Read the document ↗

NMDC Ltd: key numbers

Share price
₹79.90
Market cap
₹70,247 Cr
Revenue (annual)
₹32,071 Cr
Net profit (annual)
₹7,450 Cr
P/E (TTM)
9.4×Sector 19.0×
Promoter holding
60.79%+0.00% QoQ
FII holding
13.59%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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pellet plant capacity
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NMDC Limited has revised its iron ore prices effective September 9, 2026, setting Lump Ore at ₹5,400 per ton and Fines at ₹4,500 per ton.

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