Sign in to fuzzto save your conversations, follow your research and come back anytime.
NMDC
SectorMetals & Mining
NMDC Ltd. is India's largest iron ore producer by volume and a Navratna Public Sector Enterprise under the Ministry of Steel. The company operates highly mechanized iron ore mines in Chhattisgarh and Karnataka, as well as India's only mechanized diamond mine in Panna, Madhya Pradesh. NMDC is engaged in the exploration and production of various minerals including iron ore, copper, rock phosphate, limestone, and diamonds. The company primarily sells high-grade iron ore to the domestic steel market through long-term contracts. NMDC has diversified into steel production and is expanding its operations both domestically and internationally. It has ventures in wind energy, power generation, and overseas mineral exploration. The company's product range includes iron ore fines, lumps, slimes, and rough diamonds. NMDC also has stakes in international projects, including coal mining in Mozambique and mineral exploration in Australia through its subsidiary.
In the news
5 Penny Stocks Under ₹100 for Long-Term Growth
5 Indian Stocks Hit Ex-Dates This Week: Dividends & Corporate Actions
NMDC dividend record date Oct 5: Stock drops 2% on weak sales
NMDC commissions ₹5,427 cr iron ore processing project
Stocks in Focus: Coal India, Aurobindo Pharma, Coforge, HCL Tech
NMDC shares rally 2% on net-zero emissions target by 2047
NMDC Hikes Iron Ore Prices by ₹150/Tonne, Share Rises
NMDC Revises Wages for Non-Executives from January 2022
NMDC targets 60 MT iron ore production in FY27, coal diversification on track
NMDC iron ore production jumps 21% YoY in August 2026
Nifty above 24,250; metal stocks surge on MMDR Bill passage
Motilal Oswal sets NMDC target at ₹98
Congress states challenge MMDR Act in Supreme Court over ₹15,786 cr liability
NMDC Shares Fall 14% as Weak Q1 Results and Price Cuts Hit Performance
NMDC Shares Fall 2.01% to ₹83.78 Despite Strong Q2 Results
NMDC Q1 FY27 Results: Profit up 2% to ₹2,007 crore, shares rise 1%
Jharkhand CM flags ₹7,110 cr revenue risk in MMDR Bill challenge
NMDC Shares Rise on Strong Q4 Results; Multiple Brokerages Issue Buy Ratings
NMDC explores Argentina's copper belt for critical minerals
NMDC cuts iron ore prices amid record production milestone
The Quarter story
The two most recent quarterly results, compared side-by-side.
NMDC shows strong production recovery and pricing power, driving margin expansion despite seasonal revenue normalization and inventory adjustments.
BCH mine output grew from 32.42 MT to 102.7 MT from Q2 FY26 to Q1 2026-27 — unlocking major capacity
Stock adjustment swung from ₹213 Cr to ₹(1,094) Cr from Q4 FY26 to Q1 2026-27 — reflecting inventory write-downs
Average domestic iron ore price recovered from ₹4,681 per tonne to ₹5,548 from Q3 FY26 to Q1 2026-27 — boosting per-unit revenue
Revenue from operations normalized from ₹11,173 Cr to ₹6,795 Cr from Q4 FY26 to Q1 2026-27 — aligning with seasonal cycles
EBITDA margin rebounded from 27% to 41% from Q4 FY26 to Q1 2026-27 — driven by lower operational costs
Other income dropped from ₹225 Cr to ₹135 Cr from Q4 FY26 to Q1 2026-27 — showing volatile non-core receipts
Operational expenses fell from ₹2,539 Cr to ₹1,801 Cr from Q3 FY26 to Q1 2026-27 — improving overall efficiency
Iron ore sales volume eased from 152.99 MT to 117.30 MT from Q4 FY26 to Q1 2026-27 — indicating dispatch normalization
KDL mine production rose from 33.48 MT to 103.5 MT from Q2 FY26 to Q1 2026-27 — strengthening supply chain
Company insights, generated from the most recent coverage.
NMDC is diversifying into coking coal with Tokisud producing 0.75-1 MT this year, Rohne delayed, and ₹2,000-3,000 crore earmarked for overseas assets — it is moving from pure-play ore miner toward integrated input supplier.
NMDC's growth is volume-driven, not price-driven — management says demand 'would not be a constraint even at 100 MT', so the 60 MT FY27 to 100 MTPA 2030 ramp has a buyer list behind it.
NMDC's guidance of a range-bound iron ore price caps realisation upside, so a faster supply response from itself and private miners erodes the premiums it currently earns.