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NMDC Q1 FY27 Share Price & Earnings Call Analysis

₹67.54+0.06% today
Market cap
₹59,371 Cr
P/E
7.95
ROE
23.37%
PEG
0.47
Price to sales
1.85
Debt to equity
0.19
52W high / low
₹96.0 / ₹66.3
Sales growth (5Y)
15.85%
EBITDA margin
28.79%
Net profit margin
23.23%
Promoter holding
60.79%
Sales (last year)
₹32,127 Cr

NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power.(Source : 202003 Annual Report Page No:119)

Guidance scorecard · Q1 FY27 call

What NMDC Ltd's management guided
and where it ranks in Minerals & Mining

#2of 7 in
Minerals & Mining
Revenue20–40%MarginsFlatCapexPlannedFundraisingNone plannedOrder bookWhat management said

RevenueQ4 FY26 call

20–40%
  • NMDC targets to achieve 60 million tons production in FY27, up from 53 million tons in FY26.
  • The company aims to reach 100 million tons of iron ore production by the end of the decade (2030).
  • Expansion projects underway include Deposit 5 (from 12 to 20 million tons), Kirandul (to 30 million tons), Bacheli (to 35 million tons), and new mines Deposit 4 and Deposit 13 expected to add 7 million and 10+ million tons respectively.
  • Coal mining ramps up with Tokisud (1 million tons) and Rohne (peak capacity 8 million tons expected in 1.5-2 years).
  • NMDC expects EBITDA margins around 42-43% for FY27.
  • Capex planned around INR6,000 crores in FY27, scaling up to INR9,000-10,000 crores annually over next 2-3 years to support capacity expansions.

2 more points from NMDC Ltd's call on revenue

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Full Q4 FY26 analysis

MarginsQ4 FY26 call

Flat

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

Full Q4 FY26 analysis

CapexQ4 FY26 call

Planned
  • FY27 Capex Guidance: Around INR 6,000 crores for the current year.
  • Next 2-3 years Capex: Expected to be in the range of INR 7,000 - 10,000 crores per year.
  • Total planned Capex: INR 40,000 to 50,000 crores over the next 3 years aimed at reaching 100 million tons production capacity.
  • Major tenders: Expected awards worth INR 15,000 - 20,000 crores by end of this month or next, with peak execution starting next year.
  • Strategic Investments Abroad: Aggressively pursuing acquisitions in critical minerals and rare earths overseas.

2 more points from NMDC Ltd's call on capex

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Full Q4 FY26 analysis

FundraisingQ4 FY26 call

None planned

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

Full Q4 FY26 analysis

Order bookQ4 FY26 call

  • There is a strong and ongoing "order pipeline" supporting capacity expansion and production ramp-up.
  • Expansion projects are progressing with necessary approvals being obtained on time.
  • Capex plans indicate large-scale investments (INR 6,000 crores in FY26 and increasing to INR 9,000-10,000 crores next years) for capacity enhancements supporting future orders.

2 more points from NMDC Ltd's call on the order book

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Full Q4 FY26 analysis
Full Minerals & Mining ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Minerals & Mining
on management's own guidance

  1. This stockNMDCGood growth
    2
  2. Lloyds Metals & Energy LtdGood growth
    1
  3. Gravita IndiaGood growth
    3
See all potential multibaggersAll Minerals & Mining rankings

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Minerals & Mining companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
1Lloyds Metals & Energy Ltd20–40%Flat₹1.04L Cr21.9
2NMDCThis stock20–40%Flat₹63,029 Cr8.4
3Gravita India20–40%Flat₹10,919 Cr27.9
420–40%Flat₹4,437 Cr10.8
510–20%Up 0–2%₹683 Cr10.0
610–20%Flat₹14,980 Cr26.3

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NMDC Ltd announcements

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Financials of NMDC Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of NMDC Ltd

Quarterly Results

Quarter-by-quarter operating performance

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales +3,7205,8515,3954,0145,4106,4895,4144,9196,5687,0056,7396,3787,611
Expenses +2,5793,6893,4012,8243,4034,3883,0743,5334,1964,9534,2604,3855,467
Operating Profit1,1412,1621,9941,1902,0072,1022,3401,3862,3722,0512,4781,9932,144
OPM %31%37%37%30%37%32%43%28%36%29%37%31%28%
Other Income +2051,22829432184389365361375492300383372
Interest301261932212329616527835
Depreciation849369898211174103103141109110107
Profit before tax1,2323,2852,2121,4041,9772,3592,6081,6142,5842,3382,6432,2592,375
Tax %27%31%25%27%26%40%25%26%27%37%26%26%26%
Net Profit +9142,2721,6531,0261,4821,4101,9691,2051,8801,4771,9681,6981,757
EPS in Rs1.042.581.881.171.691.612.241.382.141.682.241.932.00

Financials of NMDC Ltd

Profit & Loss

Annual income statement trend

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales +12,05812,3566,4568,82811,61512,15311,69915,37025,96517,66721,30823,90627,732
Expenses +4,3354,5913,7715,2335,8125,2285,6976,58013,33811,61314,01415,75519,065
Operating Profit7,7237,7652,6853,5955,8036,9256,0038,79012,6266,0547,2948,1508,667
OPM %64%63%42%41%50%57%51%57%49%34%34%34%31%
Other Income +2,1822,1551,6829106675884163517162,0041,0871,5911,548
Interest20662137401017397578178135
Depreciation151173218197257279295229288336351420466
Profit before tax9,7539,7474,0844,2876,1767,1946,1148,89613,0167,6467,9529,1439,614
Tax %34%34%34%40%38%36%41%30%27%28%30%28%
Net Profit +6,3716,3512,5442,5433,8084,6173,5736,2779,4295,6015,5676,5206,900
EPS in Rs5.365.342.142.684.015.033.897.1410.726.376.347.437.85
Dividend Payout %53%53%171%64%36%37%45%36%46%35%38%44%

Financials of NMDC Ltd

Balance Sheet

Capital structure and asset base

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital396396396316316306306293293293293879879
Reserves29,55031,87028,78422,26624,10125,73827,36729,59117,72522,32825,36328,81731,578
Borrowings +001,49705003645662,0001,8002,1283,3594,2763,640
Other Liabilities +1,4972,1972,0793,2013,7743,4833,0565,0455,0945,2046,6467,0356,380
Total Liabilities31,44434,46432,75625,78428,69129,89131,29436,93024,91229,95335,66141,00742,477
Fixed Assets +1,3661,4682,0582,0953,4573,5123,8103,9333,6623,1993,3775,0385,074
CWIP5,2977,8019,74711,85512,54513,81915,53017,1581,3331,9983,2354,7375,309
Investments2193195926126738599108758959409569781,203
Other Assets +24,56124,87620,35911,22112,01611,70111,04514,96419,02223,81628,09430,25330,890
Total Assets31,44434,46432,75625,78428,69129,89131,29436,93024,91229,95335,66141,00742,477

Financials of NMDC Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity +3,7343,9992,5022,1093,3764,0022,1267,2666,9421,8387,3941,894
Cash from Investing Activity +3,444-5173,6455,171-1,865-789-313-4,316-3,214202-6,076306
Cash from Financing Activity +-5,801-3,449-6,290-7,249-1,557-3,201-1,753-2,591-4,067-2,067-1,302-2,225
Net Cash Flow1,37633-14431-461160359-339-2816-25
Free Cash Flow1,4371,185-1,073-2111,3181,996-2785,6445,7435905,547-1,336
CFO/OP95%91%157%102%99%95%73%111%89%65%126%54%

Financials of NMDC Ltd

Ratios

Working capital efficiency and return ratios

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days4452454346436951429060118
Inventory Days
Days Payable
Cash Conversion Cycle4452454346436951429060118
Working Capital Days11610173-4953-163094955
ROCE %34%32%14%16%25%28%23%30%50%29%31%30%

Guidance history

How NMDC Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q4 FY26 call →20–40%FlatPlannedNone planned—
Q4 FY25 call →20–40%Up 2%+PlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

13out of 100

Momentum score · price trend

13 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−11.9%47%
Last 6 months−25.3%12%
Last 3 months−20.6%15%

The price is 50.9% below its all-time high of ₹137.42 (22 Jan 2010). Stocks more than 20% below their peak have their score halved, so 26 became 13.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For NMDC Ltd: 0.4 × 47 + 0.4 × 12 + 0.2 × 15 = 26, halved to 13 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What NMDC Ltd's management said in earlier quarters

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