NMDC FY26 iron ore output at 53 MT; new 52-week high

Record FY26 output puts NMDC in a first-of-its-kind club

State-owned miner NMDC Ltd posted its strongest annual operating performance in FY2025-26, setting records in iron ore output and sales. As per information released by the Ministry of Steel, NMDC produced 53.16 million tonnes (MT) of iron ore during the year. That made it the first iron ore mining company in India to cross the 50 MT annual production milestone. The company also reported FY26 iron ore sales of 50.28 MT, pointing to sustained offtake in the domestic market. Separately cited figures put FY26 production at roughly 53.15 MT, reinforcing the same milestone and scale. The record year matters because iron ore is the key input for steelmaking and India’s steel capacity is targeted to expand over the coming years. Higher domestic availability can ease raw material tightness for steel producers when demand is strong.

May 2026 production growth adds to operational momentum

NMDC’s operational narrative also got a boost from a strong monthly update. The company reported a 19.9% year-on-year (YoY) increase in iron ore production to 5.31 MT in May 2026. The update signalled momentum after the record FY26 run-rate and helped push market sentiment higher. Elevated iron ore prices and strong domestic steel demand were also cited as supportive factors for the company’s outlook. Alongside these fundamentals, investors tracked NMDC’s capacity expansion roadmap as a longer-term driver. Against this backdrop, NMDC shares touched a fresh 52-week high near the ₹97 mark in early June 2026.

Stock price levels: 52-week high near ₹97 and a clear recovery

Reported data points show NMDC’s stock marking a new 52-week high around ₹97.20 to ₹97.49. One data point states the stock hit ₹97.24 on June 2, 2026, while another cites a 52-week high of ₹97.49. The 52-week low has been reported at ₹66.80 (June 19, 2025) and also at ₹67, indicating the trough was in the same zone. Taken together, the figures highlight a sharp recovery over the last year as production hit record levels and realizations remained healthy. The move also came as the broader midcap index returns were more mixed across timeframes.

Returns snapshot: NMDC outpaces the NIFTY Midcap 50

NMDC’s recent and longer-term returns have been stronger than the NIFTY Midcap 50 index across several windows cited in the data. Over the past week, the stock returned 4.78%, compared with the index’s -2.56%. Over the last one month, NMDC gained 5.12%, while the index rose 2.40%. On a year-to-date (YTD) basis, NMDC was up 13.55%, versus an index decline of 0.32%. Over one year, NMDC shares rallied 34.24%, compared with the broader market return of 7.28%. Over three years, NMDC delivered 161.71%, ahead of the index gain of 79.52%.

FY26 performance details: output, sales, and why it matters

The FY26 production and sales numbers place NMDC at the centre of India’s iron ore supply chain. FY26 iron ore production was reported at 53.16 MT, and sales at 50.28 MT. Another line item notes output of 53.15 MT, up about 21% YoY, aligning with a separate figure of a 20.6% increase versus the prior year. The year was described as NMDC’s best-ever annual performance, with each quarter setting new records in at least one account. The milestone also reflects how scale benefits a large mining operator when demand is resilient. For India’s steel industry, increased domestic ore volumes can support capacity additions and reduce the need to depend on imported raw material.

Financial picture and margins: growth with some compression

One performance snapshot cited for 9M FY26 shows production rising 20% YoY to 36.9 MT and sales growing 10% to 34.9 MT. In the same period, revenue jumped 22% to ₹20,381 crore, while Profit After Tax (PAT) increased 4% to ₹5,401 crore. EBITDA grew 5%, but the EBITDA margin compressed from 44% in 9M FY25 to 38% in 9M FY26. These numbers show that topline growth did not fully translate into profit growth during the cited period, even as volumes and realizations supported revenue. Margin compression is important for investors because it can shape how the market values volume growth during periods of cost changes or pricing volatility. Still, the company’s scale and record output year kept focus on execution.

Capacity expansion plans: the 100 MT target and capex cues

NMDC has indicated an ambition to lift production capacity materially over the next few years. One set of details cites a target to increase production capacity to 100 million tonnes, supported by a capital expenditure plan of ₹3,700 crore and strategic international steps, including a new office in Dubai. Separately, the company is also described as targeting 100 MT by FY30. Another reference points to a larger ₹70,000 crore expansion roadmap, which has been cited alongside the same 100 MT by FY30 objective. Across these references, the consistent takeaway is the directional target of 100 MT over the medium term, with investors watching how project timelines and spending translate into incremental volume.

Longer history: from 10 MT to 50 MT and beyond

NMDC was established in 1958 and is a Central Public Sector Enterprise under the Ministry of Steel. Historical figures cited in the data show it produced about 10 MT in 1978, followed by steady growth over decades. Another comparison says that since 2015, production has risen by approximately two-thirds, from about 30 million tonnes to 50 million tonnes. The company’s “NMDC 2.0” strategy has been described as focusing on automation, exploration of new deposits, and partnerships with private players. Those operational and strategic steps are linked to the latest milestone of crossing 50 MT in a single financial year. The company has also been described as diversifying into critical and rare-earth minerals, aligning with broader strategic priorities.

Key facts at a glance

What investors will watch next

NMDC’s FY26 record output and sales reinforce its role as a key supplier to India’s steel ecosystem, especially as domestic demand remains firm. The near-term market reaction also reflects how investors respond to high-frequency production data, such as the May 2026 update. At the same time, the margin trend cited for 9M FY26 highlights why the market will keep a close eye on profitability as volumes scale up. The next set of triggers for NMDC shareholders is likely to be progress updates on capacity expansion, capex execution, and any further disclosures around its international expansion steps such as the Dubai office. Investors are also likely to track how iron ore prices and realizations move alongside steel demand. For now, the FY26 milestone of crossing 50 MT stands as the defining operational marker, with the 100 MT target framing the company’s medium-term agenda.