NMDC

NMDC Limited

India's largest iron ore miner, state-controlled, with pellets and critical minerals

Commodities›Metals & Mining›Minerals & Mining›Industrial Minerals

nmdc.co.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹70.50
Market cap
61,982 Cr
Stock P/E
8.3
P/B
1.82
Dividend yield
5.0%
ROE (FY26)
21.9%
ROCE (FY26)
25.8%
Operating margin (FY26)
27.4%
Debt / equity (FY26)
0.17
OCF / EBITDA (FY26)
53.9%
OCF / EBITDA (3Y)
57.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

NMDC mines iron ore and sells it mainly to Indian steel producers.

Company snapshot

2ndBy market cap

Ranked among 9 companies in Industrial Minerals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.0% of revenue

SegmentRevenue shareRevenuePBTAssets
a) Iron Ore
98.0%
6,434 Cr2,567 Cr18,385 Cr
b) Pellet ,Other Minerals, Products & Services (#)
2.6%
169 Cr-76 Cr501 Cr

What we see

Positives
  • ✓Net margin of 23.2% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricJun 2023Sept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales5,395 Cr4,014 Cr5,410 Cr6,489 Cr5,414 Cr4,919 Cr6,568 Cr6,739 Cr6,378 Cr7,611 Cr11,343 Cr6,795 Cr
Operating expenses (approx.)3,401 Cr2,824 Cr3,403 Cr4,388 Cr3,074 Cr3,533 Cr4,196 Cr4,260 Cr4,385 Cr5,467 Cr8,700 Cr4,327 Cr
EBITDA1,994 Cr1,190 Cr2,007 Cr2,102 Cr2,340 Cr1,386 Cr2,372 Cr2,478 Cr1,993 Cr2,144 Cr2,644 Cr2,468 Cr
OPM %37.0%29.7%37.1%32.4%43.2%28.2%36.1%36.8%31.3%28.2%23.3%36.3%
Other income294 Cr321 Cr337 Cr419 Cr365 Cr361 Cr375 Cr300 Cr383 Cr373 Cr432 Cr347 Cr
Interest6 Cr19 Cr32 Cr21 Cr23 Cr29 Cr61 Cr27 Cr8 Cr35 Cr51 Cr22 Cr
Depreciation69 Cr89 Cr82 Cr111 Cr74 Cr103 Cr103 Cr109 Cr110 Cr107 Cr152 Cr103 Cr
Profit before tax2,203 Cr1,405 Cr1,991 Cr2,356 Cr2,615 Cr1,630 Cr2,569 Cr2,643 Cr2,275 Cr2,384 Cr2,882 Cr2,662 Cr
Tax %25.0%27.0%25.5%40.0%24.6%25.7%26.7%25.5%25.3%26.3%29.7%25.7%
Net profit1,652 Cr1,026 Cr1,484 Cr1,413 Cr1,971 Cr1,212 Cr1,882 Cr1,968 Cr1,699 Cr1,757 Cr2,027 Cr1,976 Cr
EPS (₹)₹5.64₹3.50₹5.06₹4.82₹6.72₹4.13₹2.14₹2.24₹1.93₹2.00₹2.31₹2.25

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales8,830 Cr11,615 Cr12,153 Cr11,699 Cr15,370 Cr25,882 Cr17,667 Cr21,308 Cr23,906 Cr32,071 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,235 Cr5,812 Cr5,228 Cr5,697 Cr6,581 Cr13,299 Cr11,614 Cr14,016 Cr15,757 Cr22,811 CrSign in free for the trailing twelve months
EBITDA3,595 Cr5,803 Cr6,924 Cr6,002 Cr8,789 Cr12,583 Cr6,053 Cr7,292 Cr8,149 Cr9,260 CrSign in free for the trailing twelve months
OPM %40.7%50.0%57.0%51.3%57.2%48.6%34.3%34.2%34.1%28.9%Sign in free for the trailing twelve months
Other income910 Cr523 Cr589 Cr514 Cr352 Cr719 Cr768 Cr1,371 Cr1,593 Cr1,488 CrSign in free for the trailing twelve months
Interest21 Cr37 Cr40 Cr10 Cr17 Cr39 Cr75 Cr78 Cr178 Cr121 CrSign in free for the trailing twelve months
Depreciation197 Cr257 Cr279 Cr295 Cr229 Cr288 Cr336 Cr351 Cr420 Cr477 CrSign in free for the trailing twelve months
Profit before tax4,288 Cr6,177 Cr7,174 Cr6,085 Cr8,925 Cr12,961 Cr7,709 Cr7,951 Cr9,144 Cr10,184 CrSign in free for the trailing twelve months
Tax %39.7%38.4%35.6%41.3%29.7%27.6%27.3%29.9%28.5%26.8%Sign in free for the trailing twelve months
Net profit2,543 Cr3,808 Cr4,618 Cr3,573 Cr6,277 Cr9,379 Cr5,601 Cr5,575 Cr6,531 Cr7,450 CrSign in free for the trailing twelve months
EPS (₹)₹7.10₹12.04₹14.69₹11.67₹20.70₹32.00₹19.11₹19.02₹7.44₹8.47Sign in free for the trailing twelve months
Dividend payout %————36.2%46.1%19.6%45.2%—41.3%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital316 Cr316 Cr306 Cr306 Cr293 Cr293 Cr293 Cr293 Cr879 Cr879 Cr
Reserves22,266 Cr24,101 Cr25,738 Cr27,367 Cr29,591 Cr34,694 Cr22,342 Cr25,380 Cr28,817 Cr33,183 Cr
Borrowings—500 Cr364 Cr566 Cr1,994 Cr3,491 Cr423 Cr3,357 Cr3,770 Cr5,874 Cr
Other liabilities3,186 Cr3,759 Cr3,469 Cr3,048 Cr5,038 Cr6,360 Cr5,190 Cr6,632 Cr7,529 Cr8,370 Cr
Total liabilities25,784 Cr28,691 Cr29,891 Cr31,294 Cr36,930 Cr44,852 Cr28,248 Cr35,661 Cr41,007 Cr48,320 Cr
Fixed assets (net)1,733 Cr3,150 Cr3,199 Cr3,254 Cr3,321 Cr4,165 Cr2,381 Cr2,520 Cr2,634 Cr4,902 Cr
CWIP11,855 Cr12,545 Cr13,819 Cr15,500 Cr17,107 Cr18,325 Cr1,992 Cr3,231 Cr4,737 Cr6,749 Cr
Investments612 Cr673 Cr859 Cr910 Cr875 Cr895 Cr935 Cr956 Cr978 Cr1,372 Cr
Loans & advances————0 Cr0 Cr0 Cr0 Cr—85 Cr
Inventories540 Cr572 Cr666 Cr724 Cr922 Cr2,165 Cr2,661 Cr2,767 Cr2,638 Cr2,522 Cr
Trade receivables1,044 Cr1,473 Cr1,425 Cr2,224 Cr2,140 Cr2,954 Cr2,656 Cr3,509 Cr7,745 Cr9,206 Cr
Cash & bank80 Cr34 Cr46 Cr106 Cr464 Cr121 Cr93 Cr109 Cr85 Cr148 Cr
Other assets9,919 Cr10,245 Cr9,879 Cr8,577 Cr12,102 Cr16,226 Cr17,531 Cr22,569 Cr22,190 Cr23,337 Cr
Total assets25,784 Cr28,691 Cr29,891 Cr31,294 Cr36,930 Cr44,852 Cr28,248 Cr35,661 Cr41,007 Cr48,320 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity2,109 Cr3,376 Cr4,002 Cr2,126 Cr7,266 Cr7,639 Cr2,466 Cr7,395 Cr1,894 Cr4,993 Cr
Cash from investing5,171 Cr-1,865 Cr-789 Cr-313 Cr-4,316 Cr-5,066 Cr43 Cr-6,076 Cr306 Cr-3,839 Cr
Cash from financing-7,249 Cr-1,557 Cr-3,201 Cr-1,753 Cr-2,591 Cr-2,916 Cr-2,536 Cr-1,302 Cr-2,225 Cr-1,092 Cr
Net cash flow31 Cr-46 Cr11 Cr60 Cr359 Cr-343 Cr-28 Cr16 Cr-25 Cr63 Cr
Free cash flow (OCF − Capex)-211 Cr1,318 Cr1,996 Cr-278 Cr7,266 Cr7,639 Cr1,064 Cr5,548 Cr-1,336 Cr1,822 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.1%24.9%27.3%21.6%28.0%33.8%33.8%27.7%27.8%25.8%
ROE %11.3%15.6%17.7%12.9%20.6%26.9%24.7%21.7%22.0%21.9%
Debtor days4346436951425560118104
Inventory days36606120084663723979867368137194816177305423
Days payable134823353142022603126329321967181942168
Cash conversion cycle2316787013286504849114117115784104068002459
OCF / EBITDA %58.7%58.2%57.8%35.4%82.7%60.7%40.7%101.4%23.2%53.9%
OCF / EBITDA % (3 years)——58.1%50.7%61.7%62.2%63.3%67.5%54.7%57.8%
Debt / equity—0.020.010.020.070.100.020.130.130.17
Current ratio3.102.502.602.641.912.283.762.562.422.43
Net debt / EBITDA-0.020.08——0.170.270.050.450.450.62