NMDC Limited (IN:NMDC)
:NMDC
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NMDC Limited
(NMDC)
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Rating:75Outperform
Price Target:
₹91.00
▲(8.49% 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
Balance sheet strength
NMDC’s balance sheet is reported as stable with a healthy equity ratio and manageable leverage. That structural financial strength supports capital-intensive mining operations, preserves borrowing capacity for project funding, and reduces insolvency risk across commodity cycles.
Negative Factors
Rising total debt in latest year
A recent uptick in total debt raises the company’s fixed obligations. In a capital-intensive industry, higher debt can squeeze flexibility for new projects, elevate interest burden if rates rise, and magnify downside during weaker commodity cycles.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance sheet strength
NMDC’s balance sheet is reported as stable with a healthy equity ratio and manageable leverage. That structural financial strength supports capital-intensive mining operations, preserves borrowing capacity for project funding, and reduces insolvency risk across commodity cycles.
Read all positive factors
NMDC Limited (NMDC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹678.99B
Dividend Yield4.05%
Average Volume (3M)1.27M
Price to Earnings (P/E)10.4
Beta (1Y)1.17
Revenue Growth20.05%
EPS Growth15.58%
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
₹86.67Price Target Upside3.32% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)8.51
Revenue Forecast (FY)₹280.23B
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 generates revenue primarily through the sale of iron ore, which constitutes the bulk of its earnings. The company operates several mines in India, including the Bailadila Iron Ore Mine in Chhattisgarh and the Donimalai Iron Ore Mine in Karnat...
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
Negative
83.88
Price Trends
79.49
Negative
77.38
Negative
73.67
Positive
Market Momentum
-0.72
Positive
45.76
Neutral
39.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NMDC, the sentiment is Negative. The current price of 83.88 is above the 20-day moving average (MA) of 78.96, above the 50-day MA of 79.49, and above the 200-day MA of 73.67, indicating a neutral trend. The MACD of -0.72 indicates Positive momentum. The RSI at 45.76 is Neutral, neither overbought nor oversold. The STOCH value of 39.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 | ₹681.30B | 9.05 | ― | 3.62% | 30.80% | 97.08% | |
75 Outperform | ₹678.99B | 10.41 | ― | 4.05% | 20.05% | 15.58% | |
73 Outperform | ₹604.92B | 40.58 | ― | 1.21% | 6.45% | 1.13% | |
71 Outperform | ₹586.53B | 20.86 | ― | 0.38% | 9.04% | 12.80% | |
67 Neutral | ₹694.43B | 16.62 | ― | 0.07% | 22.86% | 20.96% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
57 Neutral | ₹1.15T | 140.76 | ― | 0.20% | -2.21% | -46.30% |
* Basic Materials Sector Average
IN:NMDC
NMDC Limited
77.23
11.30
17.15%
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1,130.70
231.43
25.74%
IN:JSL
Jindal Stainless Limited
711.45
132.27
22.84%
IN:LLOYDSME
Lloyds Metals & Energy Ltd.
1,278.80
4.50
0.35%
IN:NATIONALUM
National Aluminium Co. Ltd.
370.95
202.15
119.75%
IN:SAIL
Steel Authority of India Limited
146.45
31.00
26.85%
NMDC Limited Corporate Events
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...
NMDC Posts Higher Iron Ore Output and Sales in December 2025
Jan 1, 2026
NMDC Limited reported provisional iron ore production of 5.40 million tonnes and sales of 4.64 million tonnes for December 2025, reflecting an increase from 4.71 million tonnes of production and 3.91 million tonnes of sales in December 2024. Cumul...
NMDC Limited Clarifies Share Volume Movement
Dec 15, 2025
NMDC Limited has issued a clarification regarding the recent volume movement in its shares. The company stated that all necessary information and announcements have been disclosed to the stock exchanges as per regulatory requirements, and there is...
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.