NMDC Ltd Q4 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Published 19 Jul 2026 | Minerals & Mining | Market Cap: ₹75.4K Cr

NMDC targets to increase production and sales to approximately 55.4 million tons in FY 2026, aiming for nearly 100% utilization of Environmental Clearance (EC) capacity. Targeting pellet sales growth from 0.5 million tons to 2.5-3 million tons in FY '26, significantly boosting revenues and profits.

From NMDC Ltd's Q4 FY25 earnings-call transcript · updated 23 Aug 2026.

Price

₹84.6

Market Cap

₹75.4K Cr

P/E Ratio

10.1

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NMDC Ltd — Quarterly revenue & net profit

Revenue Net Profit

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Reported quarterly figures (₹ Cr). Latest: revenue ₹7.6K Cr, net profit ₹1.8K Cr.

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📊 Revenue & Sales Performance

→NMDC targets to increase production and sales to approximately 55.4 million tons in FY 2026, aiming for nearly 100% utilization of Environmental Clearance (EC) capacity.
→Aspirational growth of about 10% from notional volumes, considering disruptions like strikes in previous years.
→Pellet sales expected to rise significantly from 0.5 million tons to 2.5-3 million tons in FY 2026, unlocking higher revenues and profits.
→Plans to expand pellet plant capacities domestically and internationally, with new plants (e.g., Nagarnar pellet plant) becoming operational soon.
→Infrastructure and dispatch capacities are being enhanced with new sidings and rigs to support higher volumes.
→Long-term capacity outlook aims to take NMDC from ~50 million tons to 100 million tons in coming years.
→Pricing strategy evolving towards index-based and formula-based pricing to better align with market dynamics and support 100 million ton sales.
→Expansion plans include capacity increases in deposits and blending yards, plus leveraging logistics enhancements.

📈 Profitability & Margins

→Targeting pellet sales growth from 0.5 million tons to 2.5-3 million tons in FY '26, significantly boosting revenues and profits.
→High-grade pellet sales expected to yield a premium of $30-$50 per ton and increase average realization from $110 to $140-$150 per ton.
→Capacity utilization at pellet plants aimed to reach 98%, supporting production of 2.6-2.7 million tons.
→Expansion plans to increase production capacity from ~50 million tons to 100 million tons over next few years.
→Expected capacity enhancement to 55 million tons with plant running at 95%-105% utilization for FY '26.
→Improved dispatch capacity (additional rigs and new sidings) to support increased sales without bottlenecks.
→Anticipated steady rise in other expenses aligned with revenue growth, with reclassification planned for clarity.
→EBITDA positive turnaround in key subsidiaries like NSL expected to continue enhancing consolidated profits.
→Consideration of possible debt raises in 1-1.5 years to fund international expansion, with current capex mostly internally financed.

See what NMDC Ltd said on profitability & margins — free account, 30 seconds.

🏗️ Capital Expenditure Plans

→FY '26 capex expected around INR4,000 crores with most efforts on sanctioning and groundwork.
→INR40,000 crores worth of projects already sanctioned, including INR8,600 crores under execution.
→Additional INR12,000 crores of capex to be sanctioned within a couple of months, totaling around INR40,000 crores by mid-2025.
→Around INR2,000 crores investment through partnership/BOO models.
→INR31,000-32,000 crores of potential projects at the drawing board stage, including slurry pipelines from Kirandul to Bacheli and Nagarnar to Vizag (total INR20,000 crores).
→Strategic land acquisition: 1,167 acres taken from RINL near Gangavaram port for pellet plant, blending yard, and slurry pipeline termination.
→Expansion plans aimed at doubling production capacity from ~50 million tons to 100 million tons.
→International diversification focused on coking coal and minerals like copper, lithium, cobalt, nickel, gold, and bauxite, targeting operational and exploration-stage assets.

💰 Fundraising & Capital Structure

→Currently, most of the planned capacity expansion capex is expected to be internally financed.
→A decision on raising debt may be considered about 1 to 1.5 years from now, depending on the evaluation of overseas properties and tie-ups.
→As of now, no immediate debt or equity fundraising is planned for expansion.
→The company has sufficient cash to support current capex plans.
→If required, leveraging the balance sheet for domestic expansion or international ventures may be considered in the near future.

See what NMDC Ltd said on fundraising & capital structure — free account, 30 seconds.

📋 Order Book & Pipeline

The transcript provided from the NMDC Limited Q4 & FY 2024-25 Earnings Conference Call does not explicitly mention details about the current or expected order book or pending orders. The discussion primarily focuses on production, sales, capacity utilization, dispatch improvements, pricing strategies, and various operational updates. Therefore, based on the available document, there is no specific information related to NMDC's current or expected order book or pending orders.

Key Metrics

What NMDC Ltd's management said in earlier quarters

Q4 FY26 earnings call analysis →

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Frequently Asked Questions

What were NMDC Ltd Q4 FY25 results?

What is NMDC Ltd share price analysis?

NMDC Ltd currently shows a neutral. The stock trades at a P/E of 10.1 with a market cap of ₹75,434 Cr. Investors should review the full earnings analysis for detailed insights.

Is NMDC Ltd planning capital expenditure?

FY '26 capex expected around INR4,000 crores with most efforts on sanctioning and groundwork.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.