NMDC Steel Ltd.
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ABOUT
AI Sector View
AI GENERATEDMetals & Mining
The sector backdrop is mixed. Iron ore output was very strong at 29.5% YoY (2026-07), but steel slowed to 2.9% YoY (2026-07), finished steel consumption was 8.0% YoY (2026-06), and headline mining production was still -0.9% (Jul/26). FPI outflows of INR -2349 crore over 3 months to 2026-08-31 also argue against an aggressive overweight.
PROS
- Latest quarter profit grew 97.6% YoY, showing strong momentum
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (113.5% of PBT)
- Company has a low return on equity of -8.6% over last 3 years
- Company has a low return on capital employed of -6.2%
- Interest coverage is weak at 1.2x - earnings barely cover interest
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.24x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| JSWSTEEL | 1310.35 | 12.93 | 320440.06 | 0.54 | 4696.00 | 112.58 | 47364.00 | 11.55 | 20.67 | 19.60 |
| TATASTEEL | 188.55 | 21.33 | 235375.56 | 2.12 | 2385.24 | 18.82 | 60794.29 | 15.26 | 12.70 | 15.40 |
| SAIL | 186.25 | 18.01 | 76931.03 | 1.26 | 1644.05 | 120.80 | 26245.67 | 1.25 | 7.08 | 15.92 |
| WELCORP | 2607.95 | 29.79 | 68795.28 | 0.19 | 1047.88 | 200.11 | 4081.12 | 14.91 | 23.94 | 32.17 |
| JSL | 782.80 | 19.87 | 64535.57 | 0.51 | 768.66 | 7.56 | 11278.54 | 10.50 | 19.19 | 12.09 |
| APLAPOLLO | 2167.50 | 48.97 | 60182.46 | 0.39 | 263.11 | 10.94 | 5606.71 | 12.07 | 31.83 | 7.34 |
| SHYAMMETL | 1073.35 | 26.68 | 29960.62 | 0.42 | 350.73 | 20.66 | 5455.09 | 23.45 | 13.88 | 14.03 |
| RATNAMANI | 2862.55 | 46.35 | 20064.19 | 0.35 | 107.03 | -15.82 | 971.63 | -15.63 | 18.01 | 16.69 |
| JINDALSAW | 311.85 | 30.52 | 19943.06 | 0.64 | 90.79 | -78.15 | 4452.31 | 9.00 | 10.38 | 8.79 |
| SARDAEN | 546.75 | 17.05 | 19266.45 | 0.37 | 478.13 | 9.50 | 1608.04 | -1.07 | 17.76 | 41.59 |
| GPIL | 253.20 | 21.14 | 17046.41 | 0.39 | 222.37 | 2.75 | 1750.47 | 32.29 | 20.20 | 19.36 |
| NSLNISP | 45.05 | 157.79 | 13202.38 | 0.00 | 505.10 | 1876.13 | 36618.40 | 988.14 | 3.06 | 10.91 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 277 | 926 | 1,846 | 2,023 | 1,522 | 2,120 | 2,838 | 3,365 | 3,390 | 3,008 | 3,879 | 3,662 | |
| 0 | 349 | 1,335 | 2,801 | 2,424 | 1,963 | 2,776 | 3,129 | 2,958 | 3,183 | 2,910 | 3,073 | 3,631 | |
| Operating Profit | 0 | -72 | -409 | -956 | -401 | -441 | -656 | -291 | 408 | 207 | 98 | 806 | 31 |
| OPM % | — | -25.95% | -44.19% | -51.77% | -19.83% | -28.94% | -30.95% | -10.24% | 12.11% | 6.11% | 3.24% | 20.77% | 0.85% |
| 0 | 13 | 16 | 90 | 21 | 13 | 18 | 19 | 20 | 21 | 19 | 26 | 43 | |
| Interest | 0 | 41 | 134 | 155 | 153 | 161 | 165 | 172 | 134 | 128 | 128 | 96 | 126 |
| Depreciation | 0 | 75 | 226 | 252 | 239 | 240 | 253 | 221 | 258 | 283 | 252 | 249 | 242 |
| Profit before Tax | 0 | -175 | -753 | -1,273 | -772 | -829 | -1,056 | -664 | 36 | -183 | -264 | 486 | 74 |
| Tax % | — | 24.94% | 24.54% | 32.38% | 29.11% | 28.18% | 28.27% | 28.74% | 29.28% | 37.16% | 7.52% | 19.38% | 31.70% |
| Net Profit | 0 | -131 | -568 | -861 | -547 | -595 | -758 | -473 | 26 | -115 | -244 | 392 | 51 |
| 0.00 | -0.45 | -1.94 | -2.94 | -1.87 | -2.03 | -2.59 | -1.62 | 0.09 | -0.39 | -0.83 | 1.34 | 0.19 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 0 | 0 | 0 | 3,049 | 8,503 | 13,642 | 13,938 | |
| 0 | 0 | 0 | 0 | 0 | 4,486 | 10,291 | 12,124 | 12,797 | |
| Operating Profit | -0 | -0 | -0 | 0 | 0 | -1,437 | -1,788 | 1,518 | 1,142 |
| OPM % | — | — | — | — | — | -47.12% | -21.03% | 11.13% | 8.19% |
| 0 | 0 | 0 | 0 | 0 | 119 | 72 | 86 | 109 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 331 | 652 | 487 | 479 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 553 | 953 | 1,042 | 1,026 |
| Profit before Tax | -0 | -0 | -0 | 0 | 0 | -2,201 | -3,322 | 76 | 114 |
| Tax % | -0.00% | -0.00% | -0.00% | — | — | 29.11% | 28.54% | 22.51% | 26.34% |
| Net Profit | -0 | -0 | -0 | 0 | 0 | -1,560 | -2,374 | 59 | 84 |
| EPS | -2.36 | -1.23 | -1.21 | 0.00 | 0.00 | -5.32 | -8.10 | 0.20 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | — | — | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -8%
- 1 Year:
- -3%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- -5%
- 3 Years:
- -9%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 0 | 0 | 0 | 2,931 | 2,931 | 2,931 | 2,931 |
| -0 | -0 | 14,118 | 14,118 | 12,558 | 10,184 | 10,243 | |
| 0 | 0 | 2,154 | 6,344 | 8,627 | 7,613 | 4,165 | |
| Trade Payables | 0 | 0 | 303 | 390 | 2,503 | 4,832 | 6,044 |
| 0 | 0 | 3,930 | 1,786 | 2,110 | 1,310 | 3,274 | |
| Total Liabilities | 0 | 0 | 20,504 | 25,568 | 28,728 | 26,869 | 26,656 |
| 0 | 0 | 1,132 | 1,118 | 20,273 | 20,131 | 19,452 | |
| Capital Work in Progress | 0 | 0 | 17,038 | 19,545 | 1,215 | 717 | 570 |
| 0 | 0 | 40 | 860 | 3,703 | 3,057 | 3,897 | |
| 0 | 0 | 0 | 0 | 37 | 197 | 179 | |
| Cash & Bank | 0 | 0 | 1 | 1,513 | 721 | 908 | 800 |
| 0 | 0 | 2,294 | 2,532 | 2,778 | 1,859 | 1,758 | |
| Total Assets | 0 | 0 | 20,504 | 25,568 | 28,728 | 26,869 | 26,656 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| -0 | -0 | -0 | 743 | 1,542 | -2,825 | 1,966 | 1,795 | |
| Cash from Investing | 0 | 0 | 0 | -1,891 | -2,207 | -228 | -506 | 109 |
| Cash from Financing | 0 | 0 | 0 | 1,144 | 1,293 | 2,439 | -1,460 | -1,902 |
| 0 | -0 | -0 | -4 | 620 | -614 | 0 | 2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - NMDC Steel Limited has informed the Exchange about General Updates
2026-08-28 - Significant increase in volume has been observed in NMDC Steel Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, had written to the company. NMDC Steel Limited has submitted their response.
2026-08-27 - NMDC Steel Limited has informed the Exchange regarding Cessation of Mr Ashish Chatterjee as Government Director of the company w.e.f. August 24, 2026.
2026-08-27 - Significant increase in volume has been observed in NMDC Steel Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited.
2026-08-25 - NMDC Steel Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-24 - NMDC Steel Limited has informed the Exchange about General Updates
2026-08-21 - NMDC Steel Limited has informed the Exchange about Credit Rating- Revision
2026-08-15 - NMDC Steel Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-31 - NMDC Steel Limited has informed the Exchange about Resignation of Director/KMP/SMP
News
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