In Week of Mar 28, 2026, NMDC Ltd (Mining/Minerals - Iron Ore) is outperforming Nifty 500 with +5.1% relative strength. Fundamentals: Weak. On a 6-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: New WOS for critical minerals to contribute ₹500-700 cr revenue by FY28
Impact: +₹200 Cr revenue
“Board approved incorporation of new WOS focused on critical minerals, subject to Ministry approvals”
What: Ramp-up to 2.5-3 million tonnes of pellet sales at 30-35% margins
Impact: +₹800 Cr revenue
“Targeting 2.5-3 million tonnes in FY26 with focus on higher-grade DRI pellets for export”
What: Liquidation of ₹10,900+ cr receivables from NSL and RINL
“Receivables expected to be largely liquidated by year-end as entities improve cash generation”
Earnings deceleration risks from management commentary
Trigger: Presidential assent to Mineral Rights Bill
Impact: -150 bps margin impact
Management view: Company believes levy is contractually recoverable from customers
Monitor: Tax bill status
Trigger: Iron ore prices below $100/tonne
Impact: -100 bps margin impact
Management view: Rising costs and pricing pressures impacting margins
Monitor: Iron ore spot prices
Key quotes from recent conference calls
“The Board approved incorporation of a new WOS focused on critical minerals, subject to necessary approvals from Ministry of Steel and DIPAM — Board of Directors”
“We're targeting 15% export mix by FY27 with higher-margin DRI pellets — CEO”
“Large receivables from NSL and RINL are expected to be largely liquidated by year-end as both entities improve cash generation — Management”
“The decline in profitability despite revenue growth points to rising costs and pricing pressures impacting margins in the quarter — Management”
Forward-looking targets from management for FY26-FY27
Revenue Growth Target
15%
Implied PAT Growth
8%
OPM Guidance
30%
Capex Plan
₹4500 Cr
Key Milestones
• 2.5-3 million tonnes pellet sales by FY26
• 15% export mix by FY27
• Critical minerals WOS operational by Q1 FY27
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +16% | -3% | Stable |
| PAT (Net Profit) | -6% | -12% | Inflection Down |
| OPM | 28.0% | -800 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
NMDC Ltd's latest quarterly results (Dec 2025) show
NMDC Ltd's profit is declining with an inflecting downward trend.
NMDC Ltd's revenue growth trend is stable.
NMDC Ltd's operating margin is volatile.
NMDC Ltd's long-term compounding rates
NMDC Ltd's earnings growth is inflecting downward with mixed signals on a sequential basis.
NMDC Ltd's trailing twelve month (TTM) performance
NMDC Ltd appears significantly overvalued based on our fair value analysis.
NMDC Ltd's current PE ratio is 9.8x.
NMDC Ltd's current PE is 9.8x.
NMDC Ltd's price-to-book ratio is 2.1x.
NMDC Ltd is rated Weak with a fundamental score of 38.61/100. This score is calculated from objective financial metrics
NMDC Ltd has a debt-to-equity ratio of N/A.
NMDC Ltd's return ratios over recent years
NMDC Ltd's operating cash flow is positive (FY2025).
NMDC Ltd's current dividend yield is 4.27%.
NMDC Ltd's shareholding pattern (Dec 2025)
NMDC Ltd's promoter holding has remained stable recently.
NMDC Ltd has been outperforming Nifty 500 for 6 consecutive weeks, indicating building momentum.
NMDC Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
NMDC Ltd has 3 key growth catalysts identified from recent earnings analysis
NMDC Ltd has 2 key risks worth monitoring
In Q3 FY26, NMDC Ltd's management highlighted
NMDC Ltd's management has provided the following forward guidance for FY26-FY27
Based on quantitative research signals, here is why NMDC Ltd may be worth studying
NMDC Ltd investment thesis summary:
NMDC Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
