Loading current stock analysis…
Loading current stock analysis…
India
As of 18 Sept 2026, 03:30 pm
NMDC Steel Limited reported a profit after tax of ₹50.51 Crore for Q1 FY2026. This result, publicly disclosed on August 14, 2026, was cited by the company as a reason for a significant increase in trading volume observed in late August 2026, in response to an inquiry from the NSE.
As of September 18, 2026, the daily trend for NMDC Steel Limited shows a bearish SuperTrend direction with a value of 46.2. The closing price was ₹42.6. Key technical levels include immediate resistance at ₹42.94 (0.81% above current price) and support at ₹42.43 (-0.41% below current price).
NMDC Steel Limited's 11th AGM is scheduled for September 28, 2026. Key agenda items include the adoption of audited financial statements for the year ended March 31, 2026, the re-appointment of directors Vinay Kumar and Joydeep Dasgupta, and the appointment of Krishna Kumar Thakur, Anurag Kapil, and Vivek Nishant Nath as Directors. Shareholders will also vote on authorizing statutory auditor remuneration for 2026-27 and ratifying the cost auditor fees.
As of September 18, 2026, NMDC Steel Limited's stock has shown varied returns. It experienced a 2% return in the last day and a 5% return in the last month. Over longer periods, it saw a -6% return in the last year and a -3% return year-to-date. The return since the start of trading was -2%.
As of 18 Sept 2026, 03:30 pm
Showing 3 of 14 candles
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed higher.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Latest complete financial results for Q1 FY2027 and comparative quarterly trends.
| Metric | Q1 FY2026-27(Latest) | Q4 FY2025-26 | Q3 FY2025-26 | Q2 FY2025-26 | Q1 FY2025-26 |
|---|---|---|---|---|---|
| Revenue From Operations | ₹3,661.84 crore | PEAK₹3,879 crore | ₹3,007.69 crore | ₹3,389.90 crore | ₹3,365.22 crore |
| Expenses | PEAK₹3,630.78 crore | ₹3,419.04 crore | ₹3,290.23 crore | ₹3,593.68 crore | ₹3,349.08 crore |
| Profit Before Tax | ₹73.95 crore | PEAK₹486.10 crore | -₹263.81 crore | -₹182.65 crore | ₹36.14 crore |
| Profit Loss For Period | ₹50.51 crore | PEAK₹391.91 crore | -₹243.97 crore | -₹114.78 crore | ₹25.56 crore |
| Finance Costs | ₹126.38 crore | ₹96.42 crore | ₹128.11 crore | ₹128.43 crore | PEAK₹133.68 crore |
| Tax Expense | ₹23.44 crore | PEAK₹94.19 crore | -₹19.84 crore | -₹67.87 crore | ₹10.58 crore |
Finance costs were ₹126.38 crore in Q1 FY27, up 31.1% from ₹96.42 crore in Q4 FY26 but down 5.5% from ₹133.68 crore in Q1 FY26. The Q4 figure was notably lower than the ₹128–134 crore range seen in the three quarters before it (Q1–Q3 FY26). The sequential increase in finance costs added to the profit decline. Management attributed the year-on-year decrease to a lower interest rate on its SBI term loan and a reduced outstanding loan balance.
Exchange disclosures and regulatory announcements for NMDC Steel.
NMDC Steel Limited published newspaper clippings regarding its 11th Annual General Meeting and e-voting information in the 'Pioneer' (English) and 'Pioneer' (Hindi) editions on September 7, 2026. The notice was issued to stock exchanges including BSE Limited, NSE of India Limited, and Calcutta Stock Exchange Limited in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. Paraj Kanti Saha, the Company Secretary & Compliance Officer, digitally signed the communication on September 7, 2026.
NMDC STEEL LIMITED has informed the Exchange about Notice of Shareholders Meeting for Annual General Meeting to be held on 28-Sep-2026 |SUBJECT: Notice Of Shareholders Meetings-XBRL
NMDC Steel Limited announced its 11th Annual General Meeting scheduled for September 28, 2026, in Hyderabad to transact eight agenda items including the adoption of audited financial statements for the year ended March 31, 2026. The meeting will address the re-appointment of directors Vinay Kumar and Joydeep Dasgupta by rotation, alongside the appointment of Krishna Kumar Thakur, Anurag Kapil, and Vivek Nishant Nath as Directors (Personnel, Finance, and Commercial respectively). Additionally, shareholders are set to authorize statutory auditor remuneration for 2026-27 and ratify the cost auditor fees of M/s. B Mukhopadhyay & Co., amounting to INR 137,500.
NMDC Steel Limited responded to an NSE inquiry dated August 27, 2026, regarding a spurt in trading volume by attributing the activity to the public disclosure of its Q1 FY2026 financial results on August 14, 2026, which reported a profit after tax of ₹50.51 Crore, and a subsequent credit rating upgrade by Crisil Ratings from 'Crisil BBB+/ Stable' to 'Crisil A / Stable'. The company confirmed that all material information was disclosed within prescribed timelines under SEBI (LODR) Regulations, 2015, and stated as of August 28, 2026, that no other price-sensitive information requires immediate announcement.
Significant increase in volume has been observed in NMDC Steel Limited. The Exchange, in order to ensure that investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written to the company. The response from the company is awaited. |SUBJECT: Spurt in Volume
Shri Ashish Chatterjee ceased to be a Government Director on the Board of NMDC Steel Limited effective from the forenoon of August 24, 2026, following his relieving as Additional Secretary & Financial Adviser, as per Ministry of Steel Order No. S-14011/1/2022-BLA dated August 27, 2026. The updated board includes Shri Abhijit Narendra as the Government Nominee Director.
On August 24, 2026, Ashish Chatterjee ceased as Non-Executive Nominee Director of NMDC Steel Limited due to vacation of office by statutory authority order, reported on August 27, 2026.
NMDC Steel Limited published newspaper notices on 25 August 2026 in the Pioneer (English and Hindi) regarding the convening of its 11th Annual General Meeting via VC/OAVM, as disclosed under Regulation 30 of SEBI LODR.
Recent market and company developments associated with NMDC Steel.
The Bombay Burmah Trading Corporation Ltd registered volume of 120.8 lakh shares by 14:14 IST on NSE, a 449.08 fold spurt over two-week average daily volume of 26899 shares
As per provisional closing data, the barometer index, the S&P BSE Sensex, ended flat at 77,540.83, up 3.11 points or 0.00%. The Nifty 50 index rose 20.15 points or 0.08% to 24,252.
Indian stocks remained subdued on August 17, with the Nifty down 0.11% and the Sensex down 0.19% due to ongoing Middle East conflicts and high crude oil prices. Despite this, midcap and small-cap indices saw slight gains.
The demerged NMDC entity listed on the exchanges in February 2023 at ₹31.75 apiece. It has risen around 38% from those levels.
Stock Market Live Updates: The markets are under pressure, as indices trade lower at the beginning of a new week. The Nifty is down nearly 80 points, falling below the 24,300 mark. Infosys, Tata Motors PV and HCLtech are top losers.
Stock Market Live Updates: The markets are under pressure, as indices trade lower at the beginning of a new week. The Nifty is down nearly 80 points, falling below the 24,300 mark. Infosys, Tata Motors PV and HCLtech are top losers.
The results came as the Government of India continued its process to divest its 50.79% stake in NMDC Steel, including a transfer of management control to a strategic buyer.
Comprehensive Section Breakdown for NMDC Steel
Strategic Vision: Manufactures and sells hot rolled steel products.
Category: Manufacturing
The Nagarnar steel plant produces high-grade hot rolled steel products, including low carbon steel, HSLA & Dual Phase Steel, and API quality steel, with thicknesses ranging from 1mm to 16mm.
• State-of-the-art 3.0 MTPA steel plant at Nagarnar, Chhattisgarh.
• Modern mill technology including the widest HR mill in the public sector.
• Iron ore supply linkage with Bailadila mines.
NMDC Steel reported a net profit of ₹50.51 crore for the June 2026 quarter, down 87% from the March 2026 quarter’s ₹391.91 crore but nearly double the ₹25.56 crore earned in the same quarter last year. Revenue fell 5.6% sequentially to ₹3,661.84 crore, while expenses rose 6.2%, compressing operating margins. The sequential decline follows an exceptionally profitable Q4, and the year-on-year improvement reflects continued progress from the prior year’s level.
Revenue from operations was ₹3,661.84 crore, down 5.6% from ₹3,879 crore in Q4 FY26 but up 8.8% from ₹3,365.22 crore in Q1 FY26. The sequential decline breaks a two-quarter rising trend (Q3 to Q4 saw a 29% increase). The year-on-year growth is consistent with the prior year’s Q1 level, indicating some variability in quarterly revenue.
Total expenses were ₹3,630.78 crore, up 6.2% sequentially and 8.4% year-on-year. The sequential increase in expenses while revenue declined is the primary driver of lower profitability. The expense growth rate (6.2% QoQ) outpaced the revenue decline (5.6% QoQ), leading to margin compression.
Segment profit before tax and finance costs (a proxy for operating profit) was ₹200.33 crore in Q1 FY27, implying an operating margin of 5.5% (200.33 / 3,661.84). This is a sharp decline from the implied operating margin of 15.0% in Q4 FY26, calculated as PBT of ₹486.10 crore plus finance costs of ₹96.42 crore = ₹582.52 crore, divided by revenue of ₹3,879 crore. The Q4 margin was an outlier compared to earlier quarters: Q1 FY26 had an implied operating margin of 5.0% (PBT ₹36.14 + finance costs ₹133.68 = ₹169.82, divided by revenue ₹3,365.22), while Q2 and Q3 FY26 had negative operating profits. Q1 FY27’s operating margin of 5.5% is therefore more in line with the prior year’s first quarter, suggesting a return to a more typical operating performance after the Q4 spike.
Profit before tax was ₹73.95 crore, down 84.8% sequentially but up 104.6% year-on-year. The sequential drop is explained by the combination of lower revenue, higher expenses, and higher finance costs.
Net profit was ₹50.51 crore, down 87.1% sequentially, up 97.6% year-on-year. The effective tax rate was 31.7% (₹23.44 crore tax on ₹73.95 crore PBT), higher than the 19.4% rate in Q4 FY26, which also contributed to the sequential net profit decline.
According to the company’s filing-day announcements, management highlighted a year-on-year revenue increase of 8.8% and a doubling of net profit, attributing the improvement to higher revenue and lower finance costs. They noted that the interest expense on the SBI term loan was reduced from 12.45% to 8.40% per annum, and the outstanding term loan decreased by ₹1,298.54 crore to ₹3,177.27 crore. The company also reported a net worth of ₹13,228.35 crore and a debt-equity ratio of 0.38. Legacy GST disputes and the ongoing strategic disinvestment process were also mentioned. (This section is based on management’s own statements and is not independently verified by the financial metrics alone.)
For the quarter ended June 30, 2026, NMDC Steel reported revenue from operations of ₹3,661.84 crore, up 8.8% year-over-year from ₹3,365.22 crore, while net profit doubled to ₹50.51 crore from ₹25.56 crore in Q1 FY26. Total expenses rose to ₹3,630.78 crore from ₹3,349.08 crore, driven by higher raw material costs and other expenses, but finance costs decreased slightly to ₹126.38 crore from ₹133.68 crore, reflecting management's successful renegotiation of the term loan interest rate from 12.45% to 8.40% p.a. with SBI. The company's outstanding term loan reduced by ₹1,298.54 crore to ₹3,177.27 crore, and net worth increased to ₹13,228.35 crore. The debt-equity ratio stood at 0.38, and basic EPS improved to ₹0.19 from ₹0.09.
Management continues to navigate legacy GST disputes (pre-demerger) totaling ₹111.10 crore, of which ₹45.90 crore was dropped, ₹56.40 crore is pending before the High Court, and ₹0.35 crore is under appeal, with NMDC Ltd handling the appeals. The strategic disinvestment process by the Government of India for its 50.79% stake in NMDC Steel remains ongoing per earlier approvals, with no new timeline disclosed in this filing. Overall, the company's performance indicates gradual operational improvement and better cost management.
NMDC Steel’s June 2026 quarter shows a significant pullback from the exceptional profitability of the March 2026 quarter, with revenue declining and expenses rising sequentially. However, compared to the same quarter last year, both revenue and profit improved, and operating margins returned to a level similar to the prior year’s first quarter. The company’s finance costs, while up from the previous quarter’s low, remain below the year-ago level. The quarter reflects a normalization after a volatile period, with the underlying business still showing year-on-year progress.
Core Thesis: The company leverages modern mill technology and iron ore supply linkage to produce a diverse range of hot rolled steel products for key consuming sectors.
• Modern Mill Technology: The plant features modern mill technology, including a Thin Slab caster capable of rolling 1650mm wide HR, the widest in the public sector. • Iron Ore Supply Linkage: The plant benefits from its iron ore supply linkage with the Bailadila mines, located approximately 108 km from Nagarnar. • Product Diversification: The company produces a product mix including low carbon steel, HSLA & Dual Phase Steel, and API quality steel, with plans to produce special steels for generators, motors, transformers, and automobiles.