NMDC Limited (IN:NMDC)
:NMDC
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NMDC Limited
(NMDC)
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Rating:75Outperform
Price Target:
₹102.00
▲(21.60% Upside)
Action:ReiteratedDate:10/30/25
NMDC Limited's strong financial performance and attractive valuation are the primary drivers of its overall score. The company's stable balance sheet and consistent revenue growth are positive indicators, although declining EBIT margins and free cash flow present challenges. Technical analysis suggests a generally positive trend, but with some short-term caution due to mixed momentum indicators.
Positive Factors
Profitability
NMDC's high gross and net margins reflect structurally favorable unit economics in iron ore mining and effective cost management. Durable margins support sustained cash generation, funding of working capital and strategic capex, and cushion the business through commodity cycles over months.
Negative Factors
EBIT Margin Pressure
A falling EBIT margin signals worsening operating efficiency or margin headwinds from higher input, mining or logistics costs. If persistent, this compresses operating cash flow and reduces the buffer to absorb commodity price shocks, making profitability more sensitive to cost or price moves.
Read all positive and negative factors
Positive Factors
Negative Factors
Profitability
NMDC's high gross and net margins reflect structurally favorable unit economics in iron ore mining and effective cost management. Durable margins support sustained cash generation, funding of working capital and strategic capex, and cushion the business through commodity cycles over months.
Read all positive factors
NMDC Limited (NMDC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹794.96B
Dividend Yield4.05%
Average Volume (3M)1.27M
Price to Earnings (P/E)10.4
Beta (1Y)1.20
Revenue Growth18.56%
EPS Growth6.55%
CountryIN
Employees5,630
SectorBasic Materials
Sector Strength58
IndustrySteel
Share Statistics
EPS (TTM)2.00
Shares Outstanding8,791,817,000
10 Day Avg. Volume1,096,731
30 Day Avg. Volume1,270,976
Financial Highlights & Ratios
PEG Ratio0.54
Price to Book (P/B)2.07
Price to Sales (P/S)2.57
P/FCF Ratio-45.92
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹86.00Price Target Upside2.53% Upside
Rating ConsensusHold
Number of Analyst Covering4
EPS Forecast (FY)9.02
Revenue Forecast (FY)₹298.89B
NMDC Limited Business Overview & Revenue Model
Company Description
NMDC Limited, together with its subsidiaries, explores for and produces iron ore in India. It explores for a range of minerals, such as iron ore, copper, rock phosphate, limestone, dolomite, gypsum, bentonite, magnesite, diamond, tin, tungsten, gr...
How the Company Makes Money
NMDC makes money mainly by mining, processing, and selling iron ore. Its principal revenue stream is the sale of iron ore products—primarily iron ore fines and iron ore lumps—priced based on market-linked mechanisms and/or company-declared prices,...
NMDC Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 266.89B | 239.06B | 213.08B | 176.67B | 259.65B | 153.70B |
| Gross Profit | 136.92B | 127.49B | 110.99B | 94.57B | 163.19B | 120.16B |
| EBITDA | 92.10B | 81.19B | 72.87B | 60.52B | 126.25B | 87.90B |
| Net Income | 70.26B | 65.42B | 55.75B | 56.01B | 94.29B | 62.77B |
Balance Sheet | ||||||
| Total Assets | 424.77B | 410.07B | 356.61B | 299.53B | 261.48B | 369.30B |
| Cash, Cash Equivalents and Short-Term Investments | 105.36B | 98.07B | 122.18B | 70.34B | 68.23B | 37.23B |
| Total Debt | 36.40B | 42.76B | 33.59B | 21.28B | 18.00B | 23.30B |
| Total Liabilities | 100.09B | 113.00B | 99.88B | 73.18B | 81.17B | 70.32B |
| Stockholders Equity | 324.57B | 296.96B | 256.56B | 226.21B | 180.18B | 298.84B |
Cash Flow | ||||||
| Free Cash Flow | 17.42B | -13.36B | 55.48B | 5.90B | 57.43B | 56.44B |
| Operating Cash Flow | 30.39B | 18.94B | 73.95B | 18.38B | 69.42B | 72.66B |
| Investing Cash Flow | -14.37B | 3.06B | -60.76B | 2.02B | -32.14B | -43.16B |
| Financing Cash Flow | -15.50B | -22.25B | -13.02B | -20.67B | -40.67B | -25.91B |
NMDC Limited Technical Analysis
Positive
83.88
Price Trends
80.65
Positive
78.56
Positive
74.61
Positive
Market Momentum
2.25
Negative
72.55
Negative
93.45
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NMDC, the sentiment is Positive. The current price of 83.88 is above the 20-day moving average (MA) of 81.07, above the 50-day MA of 80.65, and above the 200-day MA of 74.61, indicating a bullish trend. The MACD of 2.25 indicates Negative momentum. The RSI at 72.55 is Negative, neither overbought nor oversold. The STOCH value of 93.45 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NMDC.
NMDC Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
84 Outperform | ₹810.69B | 9.05 | ― | 3.62% | 19.86% | 46.32% | |
75 Outperform | ₹794.96B | 10.41 | ― | 4.05% | 18.56% | 6.55% | |
73 Outperform | ₹940.84B | 16.62 | ― | 0.07% | 75.24% | 59.65% | |
73 Outperform | ₹760.64B | 40.58 | ― | 1.21% | 8.10% | 24.12% | |
71 Outperform | ₹635.59B | 20.86 | ― | 0.38% | 8.42% | 21.74% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹1.30T | 140.76 | ― | 0.20% | 0.24% | -51.86% |
* Basic Materials Sector Average
IN:NMDC
NMDC Limited
90.88
28.10
44.77%
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NMDC Limited Corporate Events
NMDC Resets Iron Ore Prices Effective 5 April 2026
Apr 5, 2026
NMDC Limited has revised its iron ore prices effective 5 April 2026, setting Baila Lump (65.5%, 10–40 mm) at ₹5,300 per ton and Baila Fines (64%, -10 mm) at ₹4,500 per ton. These are free-on-rail prices and exclude statutory levi...
NMDC posts strong rise in March 2026 iron ore output and sales
Apr 1, 2026
NMDC Limited reported provisional iron ore production and sales data for March 2026, showing significant year-on-year growth across its Chhattisgarh and Karnataka operations. Total iron ore production for March rose to 5.35 million tonnes from 3.5...
NMDC Names Anurag Kapil as Director (Finance) and CFO
Mar 31, 2026
NMDC Limited has announced a leadership change in its finance function, with the Ministry of Steel appointing Anurag Kapil as Director (Finance) for a five-year term effective 31 March 2026, during which he will also serve as Chief Financial Offic...
NMDC appoints Krishna Kumar Thakur as Director (Personnel) to strengthen HR leadership
Mar 19, 2026
NMDC Limited has announced the appointment of Shri Krishna Kumar Thakur as Director (Personnel) on its board, effective 19 March 2026, for a tenure of up to five years or until further orders from the Ministry of Steel. The company confirmed that ...
NMDC Releases Investor Presentation on Nine-Month FY26 Performance
Feb 4, 2026
NMDC Limited has released a corporate investors’ presentation detailing its financial and operational performance for the quarter and nine months ended 31 December 2026, in compliance with market disclosure regulations. The presentation, now...
NMDC Updates Board Composition Following Director’s Superannuation
Feb 1, 2026
NMDC Limited has announced a change in its board composition following the retirement of Smt. Priyadarshini Gaddam, who ceased to be Director (Personnel) and was relieved from the services of the company upon attaining the age of superannuation on...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.