Overview

Detailed Summary

NMDC Steel Limited is a government-owned company focused on steel production, established as a subsidiary of NMDC Limited. It operates a greenfield steel plant in Nagarnar, Chhattisgarh, with a 3 MTPA capacity.
The company benefits from strategic proximity to NMDC's Bailadila iron ore mines, ensuring a steady raw material supply. It is well-connected to Visakhapatnam seaport and Raipur for efficient logistics.
Significant progress includes commissioning critical infrastructure such as Coke Oven Batteries, Sinter Plant, and Oxygen Plant, marking readiness for large-scale operations.
The commencement of commercial production of Hot-Rolled Coils in August 2023 signifies a major milestone in operational capability and capacity. This follows the demerger from NMDC Limited, enhancing its focused pursuit of steel production.

Sector: Steel
Industry: Steel - Large
Market Cap: 11,828 Cr
Volatility: High Risk
P/E Ratio: —
Industry P/E: 29.5
PEG Ratio: —
P/B Ratio: 0.9
52W High: 49.62
52W Low: 28.35

Sales CAGR

1Y: 178.88%
3Y: —
5Y: —
10Y: —

Profit CAGR

1Y: -52.13%
3Y: —
5Y: —
10Y: —

ROE

TTM: -10.14%
3Y: -8.62%
5Y: -6.27%
10Y: —

ROCE

TTM: -6.26%
3Y: -7.07%
5Y: -5.44%
10Y: —

Technicals

‌

Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JINDALSAW	189.85	12,154 Cr	10.79	1.01	1.05	11.37	13.28	4.19
NSLNISP	40.34	11,828 Cr	—	0.91	0.00	-10.14	-6.26	-2.89
JAYNECOIND	76.09	7,388 Cr	19.36	2.87	0.00	14.64	19.60	6.64
KIRLFER	445.65	7,348 Cr	21.78	2.05	1.23	9.16	12.17	5.09
MAHSEAMLES	536.10	7,179 Cr	8.55	1.09	1.87	11.94	15.40	11.48
JAIBALAJI	69.30	6,400 Cr	21.59	2.88	0.00	13.18	17.56	7.43
SURYAROSNI	228.35	4,977 Cr	15.65	1.98	2.40	13.07	17.48	9.21

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	277	926	1,846	2,023	1,522	2,120	2,838	3,365	3,390	3,008
Expenses	350	1,335	2,801	2,424	1,963	2,776	3,129	2,958	3,183	2,910
Operating Profit	-72	-409	-956	-401	-441	-656	-291	408	207	98
OPM %	-26.04	-44.19	-51.77	-19.83	-28.94	-30.95	-10.24	12.11	6.11	3.24
Other Income	13	16	90	21	13	18	19	20	21	19
Interest	41	134	155	153	161	165	173	134	128	128
Depreciation	75	226	252	239	240	253	221	258	283	252
Profit Before Tax	-175	-753	-1,273	-772	-829	-1,056	-664	36	-183	-264
Tax %	24.94	24.54	32.38	29.11	28.18	28.27	28.74	29.28	37.16	7.52
Net Profit	-131	-568	-861	-547	-595	-758	-473	26	-115	-244
EPS in Rs	-0.45	-1.94	-2.94	-1.87	-2.03	-2.59	-1.62	0.09	-0.39	-0.83

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	0.00	0.00	0.00	3,049	8,503	9,845
Expenses	0.01	0.00	0.00	4,486	10,291	10,825
Operating Profit	-0.01	0.00	0.00	-1,437	-1,788	-979
OPM %	—	—	—	-47.13	-21.03	-9.95
Other Income	0.00	0.00	0.00	119	72	71
Interest	0.00	0.00	0.00	331	652	633
Depreciation	0.00	0.00	0.00	553	953	972
Profit Before Tax	-0.01	0.00	0.00	-2,201	-3,322	-2,514
Tax %	0.00	—	—	29.11	28.54	28.35
Net Profit	-0.01	0.00	0.00	-1,560	-2,374	-1,801
EPS in Rs	—	—	—	-5.33	-8.11	-2.75
Dividend Payout %	0.00	—	—	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.06	0.00	2,931	2,931	2,931
Reserves	-0.06	17,049	14,118	12,558	10,184
Borrowings	0.00	1,691	3,842	6,662	5,909
Other Liabilities	0.00	1,765	4,678	7,218	9,446
Total Liabilities	0.00	20,505	25,568	29,368	28,470
Fixed Assets	0.00	1,132	1,118	20,273	20,131
CWIP	0.00	17,038	19,545	1,215	717
Investments	0.00	0.00	0.00	0.00	0.00
Other Assets	0.00	2,334	4,904	7,881	7,621
Total Assets	0.00	20,505	25,568	29,368	28,470

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	-0.01	-0.01	743	1,535	-2,733	1,966
Cash from Investing Activity	0.00	0.00	-1,891	-2,207	-690	-506
Cash from Financing Activity	0.00	0.00	1,144	1,293	2,808	-1,460
Net Cash Flow	-0.01	-0.01	-3.75	620	-614	0.39

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Promoters	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%	60.79%
FIIs	4.26%	3.29%	3.94%	4.33%	4.64%	4.52%	4.56%	4.58%	4.60%	4.67%	5.13%	4.80%
DIIs	19.99%	20.47%	20.19%	19.12%	16.97%	16.22%	16.07%	16.02%	16.03%	15.90%	15.34%	15.68%
Public	14.95%	15.45%	15.07%	15.76%	17.60%	18.46%	18.57%	18.61%	18.58%	18.64%	18.74%	18.72%
Total Shareholders	6,72,431	6,36,596	6,19,682	6,23,535	7,34,975	8,06,965	7,86,835	7,97,191	8,00,150	7,81,628	7,61,194	7,40,214

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Frequently Asked Questions about NMDC Steel Ltd

NMDC Steel Ltd (NSLNISP) is currently trading at 40.34 per share. Stock prices fluctuate during market hours on NSE and BSE based on demand, company updates, and overall market conditions. Refer to the live price chart above for the most recent price movement.

NMDC Steel Limited is a government-owned company focused on steel production, established as a subsidiary of NMDC Limited. It operates a greenfield steel plant in Nagarnar, Chhattisgarh, with a 3 MTPA capacity. The company benefits from strategic proximity to NMDC's Bailadila iron ore mines, ensuring a steady raw material supply. It is well-connected to Visakhapatnam seaport and Raipur for efficient logistics. Significant progress includes commissioning critical infrastructure such as Coke Oven Batteries, Sinter Plant, and Oxygen Plant, marking readiness for large-scale operations. The commencement of commercial production of Hot-Rolled Coils in August 2023 signifies a major milestone in operational capability and capacity. This follows the demerger from NMDC Limited, enhancing its focused pursuit of steel production.

Over the past 52 weeks, NMDC Steel Ltd has traded between a low of ₹28.35 and a high of ₹49.62. The 52-week high and low indicate the stock’s price range over the last year and help investors understand its volatility and recent trading levels.

NMDC Steel Ltd has a market capitalization of approximately 11,827.93. Market capitalization represents the total value of a company’s outstanding shares and helps investors understand its size, stability, and relative risk compared to other listed companies.

NMDC Steel Ltd’s investment profile depends on its business fundamentals, valuation, and long-term outlook. The stock currently trades at a PE ratio of N/A and operates in the Steel sector. Investors typically assess financial performance, growth prospects, and individual risk tolerance before making investment decisions.

Based on its market capitalization of 11,827.93 Cr, NMDC Steel Ltd is classified as a Small Cap stock. Large-cap stocks are generally more stable, while mid-cap and small-cap stocks tend to offer higher growth potential along with higher price volatility.

NMDC Steel Ltd operates in the Steel sector. Sector classification matters because companies in the same sector are often affected by similar economic conditions, regulatory changes, and competitive dynamics, which can influence overall stock performance.

The Price-to-Earnings (PE) ratio of NMDC Steel Ltd is N/A. The PE ratio compares a company’s share price to its earnings and is commonly used to assess valuation. Comparing the PE ratio with sector peers and historical levels provides better context.

The single biggest positive is the increase in the government's capital expenditure outlay to ₹12.2 lakh crore, which will directly drive massive demand for steel in infrastructure projects like railways, roads, and urban development.

Nmdc Steel Ltd

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