NMDC Ltd (NMDC) — share price & stock analysis
Profits are up 34% in two years, the price has kept pace — no more, no less.
NMDC Ltd (NMDC) trades at ₹84.3 as of 1 July 2026, up 23% over the past year — beating NIFTY 500 for 37 weeks. The machine reads this as mixed story, fairly priced: profits are up 34% in two years, the price has kept pace — no more, no less. It trades at a P/E of 9.9× (the 62nd percentile of its own range); the price is in Stage 2 — advancing, 50 weeks in; the business cycle reads DEEP CYCLICAL / EXPANSION. Fundamentals-momentum score: 72/100 (mostly improving).
Data as of 1 July 2026 · every number traces to its Screener source column · not investment advice.
- Market cap
- ₹74,115 Cr
- P/E
- 9.9×
- ROE
- 23.4%
- vs own 10-yr valuation
- 62nd pctile
- Book value / share
- ₹38.7
- EPS (TTM)
- ₹8.52
- 10-yr median P/E
- 8.8×
- Revenue (FY26)
- ₹32,071 Cr
- Profit after tax (FY26)
- ₹7,450 Cr
- Weinstein stage
- Stage 2 (50 weeks)
- Data as of
- 1 July 2026
Profits swing violently in this business — margins swinging 35 points peak to trough. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.net_profit
Where the clock stands now: earnings sit at 71% of their historical range, margins are near the bottom of their band, and the market pays mid-range (62nd percentile). That reads as EXPANSION — the middle of the cycle with margins still near their own lows — if margins mean-revert upward there is fuel left; if they don’t, growth has to do all the work.net_profit
One tension to hold: profits are compounding while margins sit near the bottom of their own historical band. That cuts both ways — there is recovery left to collect if margins climb back, but it also means today’s growth is being earned on thin economics.
4 of the 6 things we track are currently moving the right way — most of the dashboard is turning up.
Where the levels actually stand: ROCE 28% — a high-quality engine; effectively no debt; margins near the bottom of their band. Momentum says which way things are moving; these say where they are.
Read this number for what it is: it measures the DIRECTION of change, not the quality of the business. A mediocre business getting better scores high here; a great one having a soft quarter scores low. Profit, sales and margins count double.
What the earnings deliver, the price follows
Since Jun 2016, the stock is up 247% and earnings per share are up 265% — the price has tracked the profits, not run ahead of them.pricettm_eps
The market is paying for delivery, not promises. What you see in earnings is what you get in the price.
Today’s P/E of 9.9× is the middle of its own range against its own 10-year history (62nd percentile) — neither a bargain nor a stretch, by its own standards.pe_ratio
Data: Price, EPS and valuation (sampled — full series in the embedded dataset)
| Period | Price (₹) | EPS (TTM) (₹) | P/E (×) |
|---|---|---|---|
| Jun 16 | 23.3 | – | 4.3 |
| Aug 16 | 27.3 | – | 5.0 |
| Oct 16 | 34.3 | 2.2 | 15.3 |
| Dec 16 | 31.8 | 2.5 | 14.2 |
| Mar 17 | 37.7 | 2.3 | 16.8 |
| May 17 | 32.0 | 2.2 | 14.3 |
| Jul 17 | 29.9 | 2.2 | 13.4 |
| Sep 17 | 34.7 | 2.7 | 13.0 |
| Nov 17 | 32.5 | 3.1 | 12.1 |
| Jan 18 | 40.0 | 2.7 | 14.9 |
| Mar 18 | 32.6 | – | 12.2 |
| May 18 | 29.6 | – | 11.1 |
| Jul 18 | 24.8 | – | 9.3 |
| Sep 18 | 29.9 | 3.9 | 7.7 |
| Nov 18 | 24.7 | 3.9 | 6.3 |
| Jan 19 | 23.4 | 3.9 | 6.0 |
| Mar 19 | 27.0 | 3.9 | 6.9 |
| May 19 | 26.1 | 3.9 | 6.7 |
| Aug 19 | 27.2 | – | 7.0 |
| Oct 19 | 24.6 | 5.0 | 4.9 |
| Dec 19 | 28.5 | 5.3 | 5.4 |
| Feb 20 | 29.4 | 5.1 | 5.7 |
| Apr 20 | 20.6 | 5.1 | 4.0 |
| Jun 20 | 22.6 | – | 4.4 |
| Aug 20 | 24.0 | 3.9 | 6.1 |
| Oct 20 | 21.4 | 3.2 | 6.7 |
| Dec 20 | 29.9 | 3.3 | 9.1 |
| Feb 21 | 30.4 | 4.1 | 7.4 |
| Apr 21 | 35.8 | – | 8.7 |
| Jun 21 | 45.9 | 7.0 | 6.6 |
| Aug 21 | 39.3 | 10.1 | 3.9 |
| Oct 21 | 36.9 | 10.0 | 3.7 |
| Dec 21 | 34.4 | 11.9 | 2.9 |
| Mar 22 | 38.2 | 11.9 | 3.2 |
| May 22 | 39.3 | 11.9 | 3.3 |
| Jul 22 | 28.1 | 10.8 | 2.6 |
| Sep 22 | 32.0 | 8.7 | 3.7 |
| Nov 22 | 37.9 | 7.2 | 4.3 |
| Jan 23 | 43.7 | 7.2 | 6.1 |
| Mar 23 | 38.4 | 5.9 | 6.5 |
| May 23 | 35.2 | 5.9 | 6.0 |
| Jul 23 | 37.0 | 5.4 | 6.8 |
| Sep 23 | 47.7 | 5.6 | 8.5 |
| Nov 23 | 57.7 | 5.7 | 10.2 |
| Jan 24 | 72.4 | 5.7 | 12.7 |
| Mar 24 | 67.3 | 6.6 | 10.2 |
| May 24 | 86.7 | 6.6 | 13.2 |
| Aug 24 | 78.6 | 6.6 | 11.9 |
| Oct 24 | 78.8 | 6.9 | 11.4 |
| Dec 24 | 79.5 | 7.2 | 11.1 |
| Feb 25 | 66.7 | 7.4 | 9.0 |
| Apr 25 | 62.9 | 7.4 | 8.5 |
| Jun 25 | 70.4 | 7.4 | 9.5 |
| Aug 25 | 69.4 | 7.4 | 9.3 |
| Oct 25 | 74.9 | 7.4 | 10.1 |
| Dec 25 | 76.3 | 8.0 | 9.6 |
| Feb 26 | 79.4 | 7.9 | 10.1 |
| Apr 26 | 85.1 | 7.9 | 10.8 |
| Jun 26 | 94.7 | 8.5 | 11.2 |
| Jul 26 | 84.3 | 8.5 | 9.9 |
Price is the weekly close (₹). EPS is trailing-twelve-month profit per share, anchored on Screener's own snapshots; between snapshots it is filled from price ÷ P/E (an exact identity), and any fill straying more than 18% from the neighbouring snapshots is dropped rather than shown. The lower panel is the P/E — what the market pays per rupee of profit; the dotted line is its long-run median (8.8×).
Stage 2: the trend is up, and has been for 50 weeks
STAGE 2 · ADVANCING · 50 WEEKSPrice trends have a life cycle: they base (1), advance (2), top out (3) and decline (4). This chart is in Stage 2: advancing — 50 weeks so far, confirmed.stage
The price sits above its rising 200-day average (₹82 today) — trends like this persist more often than they reverse, which is why the system rides them instead of guessing the top.dma_200
Beating NIFTY 500 for 37 weeks — relative strength is the market’s live opinion, and right now it is on this stock’s side.rs_mansfield
What would end it: two Friday closes in a row below the 200-day line. That is the house exit rule — mechanical, no debates.dma_200
Data: Weekly price, moving averages and stage (sampled — full series in the embedded dataset)
| Period | Price (₹) | 200-DMA (₹) | 50-DMA (₹) | Stage |
|---|---|---|---|---|
| Feb 16 | 20.6 | 25.9 | 22.3 | 4 |
| May 16 | 23.6 | 25.4 | 24.2 | 4 |
| Aug 16 | 26.1 | 25.0 | 25.0 | 4 |
| Nov 16 | 32.7 | 26.9 | 29.9 | 2 |
| Jan 17 | 37.8 | 29.8 | 34.1 | 2 |
| Apr 17 | 33.3 | 32.3 | 35.0 | 2 |
| Jul 17 | 30.9 | 31.4 | 30.3 | 4 |
| Oct 17 | 31.6 | 31.8 | 32.1 | 2 |
| Dec 17 | 35.6 | 32.4 | 33.5 | 2 |
| Mar 18 | 31.0 | 33.4 | 33.5 | 2 |
| Jun 18 | 29.1 | 32.2 | 30.6 | 4 |
| Sep 18 | 30.7 | 30.0 | 27.9 | 4 |
| Nov 18 | 24.7 | 29.2 | 27.4 | 4 |
| Feb 19 | 25.0 | 27.0 | 24.5 | 4 |
| May 19 | 23.4 | 26.7 | 25.7 | 4 |
| Aug 19 | 26.3 | 27.2 | 27.8 | 2 |
| Nov 19 | 28.5 | 26.1 | 25.6 | 4 |
| Jan 20 | 33.3 | 28.0 | 31.1 | 2 |
| Apr 20 | 20.8 | 26.0 | 22.7 | 4 |
| Jul 20 | 21.8 | 23.7 | 21.4 | 4 |
| Oct 20 | 21.3 | 23.4 | 22.6 | 4 |
| Dec 20 | 29.3 | 24.0 | 25.9 | 2 |
| Mar 21 | 34.4 | 27.4 | 31.8 | 2 |
| Jun 21 | 47.5 | 33.8 | 43.1 | 2 |
| Sep 21 | 39.9 | 38.3 | 42.9 | 2 |
| Nov 21 | 35.1 | 37.8 | 37.6 | 4 |
| Feb 22 | 36.7 | 37.4 | 37.4 | 4 |
| May 22 | 35.1 | 38.6 | 40.1 | 2 |
| Aug 22 | 28.6 | 34.4 | 29.3 | 4 |
| Oct 22 | 33.6 | 33.6 | 32.7 | 4 |
| Jan 23 | 42.5 | 36.5 | 40.0 | 2 |
| Apr 23 | 37.1 | 37.3 | 38.1 | 2 |
| Jul 23 | 35.6 | 36.6 | 35.9 | 4 |
| Sep 23 | 49.3 | 39.1 | 43.6 | 2 |
| Dec 23 | 65.1 | 47.0 | 57.7 | 2 |
| Mar 24 | 66.1 | 59.3 | 73.8 | 2 |
| Jun 24 | 86.2 | 69.0 | 83.3 | 2 |
| Aug 24 | 74.2 | 73.6 | 78.1 | 2 |
| Nov 24 | 73.6 | 74.1 | 75.4 | 2 |
| Feb 25 | 61.9 | 71.6 | 67.2 | 4 |
| May 25 | 64.3 | 69.2 | 66.0 | 4 |
| Aug 25 | 70.5 | 69.7 | 70.0 | 1 |
| Oct 25 | 74.2 | 71.7 | 74.6 | 2 |
| Jan 26 | 82.7 | 74.5 | 79.2 | 2 |
| Apr 26 | 85.1 | 77.0 | 80.0 | 2 |
| Jun 26 | 90.9 | 81.5 | 88.4 | 2 |
| Jul 26 | 84.3 | 82.1 | 87.7 | 2 |
A lumpy ride — no clean trend in profits
Over 12 years, sales went from ₹12,058 Cr to ₹32,071 Cr (about 9% a year), and profit from ₹6,371 Cr to ₹7,450 Cr.revenuenet_profit
Data: Revenue by year
| Period | Revenue (₹ Cr) |
|---|---|
| FY14 | 12,058 |
| FY15 | 12,356 |
| FY16 | 6,456 |
| FY17 | 8,828 |
| FY18 | 11,615 |
| FY19 | 12,153 |
| FY20 | 11,699 |
| FY21 | 15,370 |
| FY22 | 25,965 |
| FY23 | 17,667 |
| FY24 | 21,308 |
| FY25 | 23,906 |
| FY26 | 32,071 |
Data: Profit by year
| Period | Profit after tax (₹ Cr) |
|---|---|
| FY14 | 6,371 |
| FY15 | 6,351 |
| FY16 | 2,544 |
| FY17 | 2,543 |
| FY18 | 3,808 |
| FY19 | 4,617 |
| FY20 | 3,573 |
| FY21 | 6,276 |
| FY22 | 9,429 |
| FY23 | 5,601 |
| FY24 | 5,567 |
| FY25 | 6,520 |
| FY26 | 7,450 |
Data: OPM % by year
| Period | OPM % (%) |
|---|---|
| FY14 | 64.0 |
| FY15 | 62.8 |
| FY16 | 41.6 |
| FY17 | 40.7 |
| FY18 | 50.0 |
| FY19 | 57.0 |
| FY20 | 51.3 |
| FY21 | 57.2 |
| FY22 | 48.6 |
| FY23 | 34.3 |
| FY24 | 34.2 |
| FY25 | 34.1 |
| FY26 | 28.9 |
Sales exploded 62% last quarter — growth every single quarter for over 2 years
Mar 26 sales were ₹11,343 Cr, up 62% on the same quarter last year.revenue
That makes 10 quarters of growth in a row — this is a trend, not a blip.revenue
Data: Quarterly sales
| Period | Revenue (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 5,395 | – |
| Sep 23 | 4,014 | – |
| Dec 23 | 5,410 | – |
| Mar 24 | 6,489 | – |
| Jun 24 | 5,414 | 0.4 |
| Sep 24 | 4,919 | 22.5 |
| Dec 24 | 6,568 | 21.4 |
| Mar 25 | 7,005 | 8.0 |
| Jun 25 | 6,739 | 24.5 |
| Sep 25 | 6,378 | 29.7 |
| Dec 25 | 7,611 | 15.9 |
| Mar 26 | 11,343 | 61.9 |
Margins are compressing — 29% → 23% in a year
Of every ₹100 of sales, the company keeps ₹23.3 as operating profit (a year ago it kept ₹29.3).opm_pct
The gross margin moved the same way (96% → 70%), so this is about input costs and pricing power — the raw-material equation worsened.gpm_pctopm_pct
Data: Three margins, quarterly
| Period | Gross (%) | Operating (%) | Net (%) |
|---|---|---|---|
| Jun 23 | 98.5 | 37.0 | 30.7 |
| Sep 23 | 92.8 | 29.7 | 25.6 |
| Dec 23 | 101 | 37.1 | 30.9 |
| Mar 24 | 106 | 32.4 | 22.0 |
| Jun 24 | 101 | 43.2 | 36.4 |
| Sep 24 | 90.0 | 28.2 | 24.5 |
| Dec 24 | 103 | 36.1 | 28.6 |
| Mar 25 | 96.0 | 29.3 | 21.1 |
| Jun 25 | 99.0 | 36.8 | 29.2 |
| Sep 25 | 91.6 | 31.3 | 26.6 |
| Dec 25 | 88.4 | 28.2 | 23.1 |
| Mar 26 | 69.9 | 23.3 | 17.9 |
Profit jumped 37% — mostly from selling more
Mar 26 profit after tax was ₹2,027 Cr, up 37% year on year.net_profit
Data: Quarterly profit after tax
| Period | PAT (₹ Cr) | YoY growth (%) |
|---|---|---|
| Jun 23 | 1,653 | – |
| Sep 23 | 1,026 | – |
| Dec 23 | 1,482 | – |
| Mar 24 | 1,410 | – |
| Jun 24 | 1,969 | 19.1 |
| Sep 24 | 1,205 | 17.4 |
| Dec 24 | 1,880 | 26.9 |
| Mar 25 | 1,477 | 4.8 |
| Jun 25 | 1,968 | -0.1 |
| Sep 25 | 1,698 | 40.9 |
| Dec 25 | 1,757 | -6.5 |
| Mar 26 | 2,027 | 37.2 |
The single biggest driver was selling more.
Data: Where the profit change came from (Mar 25 → Mar 26)
| Component | Effect (₹ Cr) |
|---|---|
| PAT Mar 25 | 1,477 |
| More sales | +1,270 |
| Thinner margins | −677 |
| Other income | −60 |
| Depreciation | −11 |
| Interest | +14 |
| Tax | +15 |
| Everything else | −1 |
| PAT Mar 26 | 2,027 |
Most of the profit becomes cash — but not all
Over the last 5 profitable years, the business reported ₹34,567 Cr of profit and collected ₹23,064 Cr of operating cash — about 67% conversion.operating_cash_flownet_profit
The wrinkle is the latest year: FY26 collected ₹4,996 Cr against ₹7,450 Cr of reported profit — about 67%. One year isn’t a trend, but it is the line to watch.operating_cash_flownet_profit
Data: Cash collected vs profit reported (annual)
| Period | Operating cash flow (₹ Cr) | Profit after tax (₹ Cr) |
|---|---|---|
| FY14 | 3,734 | 6,371 |
| FY15 | 3,999 | 6,351 |
| FY16 | 2,502 | 2,544 |
| FY17 | 2,109 | 2,543 |
| FY18 | 3,376 | 3,808 |
| FY19 | 4,002 | 4,617 |
| FY20 | 2,126 | 3,573 |
| FY21 | 7,266 | 6,276 |
| FY22 | 6,942 | 9,429 |
| FY23 | 1,838 | 5,601 |
| FY24 | 7,394 | 5,567 |
| FY25 | 1,894 | 6,520 |
| FY26 | 4,996 | 7,450 |
The cash cycle is stretching — more money stuck in the pipeline
One rupee now takes about 247 days to go out the door as materials and come back as collected cash — up from 118 days the year before.cash_conversion_cycle
The biggest mover: customers paying faster (118 → 105 days).debtor_days
Data: Days of cash locked up (annual)
| Period | Customers owe (debtor days) (days) | Stock on shelf (inventory days) (days) | We owe suppliers (payable days) (days) |
|---|---|---|---|
| FY14 | 44.0 | – | – |
| FY15 | 52.0 | – | – |
| FY16 | 45.0 | – | – |
| FY17 | 43.0 | – | – |
| FY18 | 46.0 | – | – |
| FY19 | 43.0 | – | – |
| FY20 | 69.0 | – | – |
| FY21 | 51.0 | – | – |
| FY22 | 42.0 | – | – |
| FY23 | 90.0 | – | – |
| FY24 | 60.0 | – | – |
| FY25 | 118 | – | – |
| FY26 | 105 | 170 | 27.0 |
Building hard — new capacity is under construction
The productive asset base has gone from ₹1,366 Cr (FY14) to ₹5,856 Cr, with another ₹6,749 Cr of capacity under construction right now.fixed_assetscwip
Work-in-progress is 115% of the existing asset base — that is a serious bet on future demand. Capacity like this shows up in sales with a lag; it is tomorrow’s growth being paid for today.cwip
The build is self-funded: the last 3 years' investing outflow (₹9,612 Cr) fits inside the operating cash the business generated (₹14,284 Cr).investing_cash_flowoperating_cash_flow
Data: Assets in place vs under construction (annual)
| Period | Fixed assets (₹ Cr) | Under construction (CWIP) (₹ Cr) |
|---|---|---|
| FY14 | 1,366 | 5,297 |
| FY15 | 1,468 | 7,801 |
| FY16 | 2,058 | 9,747 |
| FY17 | 2,095 | 11,855 |
| FY18 | 3,457 | 12,545 |
| FY19 | 3,512 | 13,819 |
| FY20 | 3,810 | 15,530 |
| FY21 | 3,933 | 17,158 |
| FY22 | 3,662 | 1,333 |
| FY23 | 3,199 | 1,998 |
| FY24 | 3,377 | 3,235 |
| FY25 | 5,038 | 4,737 |
| FY26 | 5,856 | 6,749 |
Almost no debt — this company cannot be killed by a bad year
For every ₹100 shareholders have put in (and left in), the company has borrowed ₹19 — total borrowings have grown from ₹0.0 Cr to ₹6,407 Cr over the window.borrowings
Data: Total borrowings (annual)
| Period | Borrowings (₹ Cr) |
|---|---|
| FY14 | 0.0 |
| FY15 | 0.0 |
| FY16 | 1,497 |
| FY17 | 0.0 |
| FY18 | 500 |
| FY19 | 364 |
| FY20 | 566 |
| FY21 | 1,994 |
| FY22 | 1,800 |
| FY23 | 2,128 |
| FY24 | 3,359 |
| FY25 | 4,276 |
| FY26 | 6,407 |
Data: Debt vs shareholders’ money (annual)
| Period | Debt ÷ equity (x) |
|---|---|
| FY14 | 0.0 |
| FY15 | 0.0 |
| FY16 | 0.1 |
| FY17 | 0.0 |
| FY18 | 0.0 |
| FY19 | 0.0 |
| FY20 | 0.0 |
| FY21 | 0.1 |
| FY22 | 0.1 |
| FY23 | 0.1 |
| FY24 | 0.1 |
| FY25 | 0.1 |
| FY26 | 0.2 |
Every ₹100 kept in the business earns ₹28 — a high-quality engine
Return on capital employed is 28.0% (a year ago: 30.0%). This is the single best test of business quality: what the company earns on the money it keeps.roce_pct
Data: Returns on capital (annual)
| Period | ROCE (%) |
|---|---|
| FY14 | 34.0 |
| FY15 | 32.0 |
| FY16 | 14.0 |
| FY17 | 16.0 |
| FY18 | 25.0 |
| FY19 | 28.0 |
| FY20 | 23.0 |
| FY21 | 30.0 |
| FY22 | 50.0 |
| FY23 | 29.0 |
| FY24 | 31.0 |
| FY25 | 30.0 |
| FY26 | 28.0 |
The owners aren’t moving
Promoters hold 60.8%, essentially unchanged. Foreign funds own 13.6%, domestic funds 13.8%.promoters_pctfiis_pctdiis_pct
Meanwhile domestic funds have been the sellers — from 18.0% to 13.8% over the window. Someone on the other side of the table disagrees; both sides count.diis_pct
Data: Who holds the shares, quarterly
| Period | Promoters (%) | Foreign funds (%) | Domestic funds (%) |
|---|---|---|---|
| Jun 23 | 60.8 | 7.0 | 18.0 |
| Sep 23 | 60.8 | 8.3 | 17.7 |
| Dec 23 | 60.8 | 9.9 | 17.3 |
| Mar 24 | 60.8 | 12.6 | 14.1 |
| Jun 24 | 60.8 | 12.8 | 14.3 |
| Sep 24 | 60.8 | 12.6 | 14.1 |
| Dec 24 | 60.8 | 12.1 | 14.5 |
| Mar 25 | 60.8 | 11.7 | 15.1 |
| Jun 25 | 60.8 | 12.2 | 14.5 |
| Sep 25 | 60.8 | 13.0 | 14.4 |
| Dec 25 | 60.8 | 13.5 | 14.1 |
| Mar 26 | 60.8 | 13.6 | 13.8 |
- Promoters are not selling. Their stake has moved 0.1 points or less in 8 quarters — it sits at 60.8%.promoters_pct
Interesting, not obvious
The numbers are genuinely mixed, and the price is roughly fair to the delivery so far.
Best thing in the data: cash generation rising (₹1,894 Cr → ₹4,996 Cr).operating_cash_flow
Biggest worry: free cash flow falling (₹2,200 Cr → ₹1,154 Cr).operating_cash_flow
Machine-written research from Screener data — every number traces to its source column. Sector Alpha is not a SEBI-registered investment adviser; nothing here is a recommendation to buy or sell. Not investment advice.
Straight answers from the data
What does NMDC Ltd do?
NMDC is engaged in exploration and production of Iron Ore along with Diamond, production and sale of Sponge Iron and generation and sale of Wind Power.(Source : 202003 Annual Report Page No:119). It is listed in the Mining/Minerals - Iron Ore sector with a market capitalisation of ₹74,115 Cr.
What is NMDC Ltd's share price?
As of 1 July 2026, NMDC Ltd trades at ₹84.3, up 23% over the past year, with a market capitalisation of ₹74,115 Cr. Beating NIFTY 500 for 37 weeks. Prices are weekly closes from Screener data; this page refreshes with each weekly update.
What is NMDC Ltd's share price target?
Sector Alpha does not publish broker-style price targets. Our discounted-cash-flow model estimates NMDC Ltd's intrinsic value at ₹155 per share under base assumptions (bear ₹113, bull ₹187), against the current price of ₹84.3 — a 75% margin of safety. The current price already implies roughly 3% annual earnings growth. These are model estimates, not forecasts — treat them as one input alongside the valuation history below, not as a target.
Is NMDC Ltd stock overvalued or undervalued?
NMDC Ltd trades at a P/E of 9.9× — the 62nd percentile of its own 10.0-year trading range (median 8.8×), which is above the middle of its own historical range. What the earnings deliver, the price follows. Since Jun 2016, the stock is up 247% and earnings per share are up 265% — the price has tracked the profits, not run ahead of them.
What did NMDC Ltd report in its latest quarterly results?
In its most recent reported quarter (Q4 FY26, quarter ended March 2026): Mar 26 sales were ₹11,343 Cr, up 62% on the same quarter last year. Mar 26 profit after tax was ₹2,027 Cr, up 37% year on year. Figures are from Screener-scraped quarterly filings; the page updates when the next quarter is filed.
Is NMDC Ltd growing?
Sales exploded 62% last quarter — growth every single quarter for over 2 years. Mar 26 sales were ₹11,343 Cr, up 62% on the same quarter last year.
Are NMDC Ltd's profits growing?
Profit jumped 37% — mostly from selling more. Mar 26 profit after tax was ₹2,027 Cr, up 37% year on year.
What are NMDC Ltd's operating margins?
Margins are compressing — 29% → 23% in a year. In the most recent quarter, of every ₹100 of sales, the company keeps ₹23.3 as operating profit (a year ago it kept ₹29.3).
What is NMDC Ltd's long-term growth record?
Revenue grew from ₹12,058 Cr in FY14 to ₹32,071 Cr in FY26 — a 8.5% compound annual growth rate over 12 years. Profit after tax compounded at 1.3% over the same period (₹6,371 Cr → ₹7,450 Cr).
Is NMDC Ltd stock in an uptrend?
Stage 2: the trend is up, and has been for 50 weeks. NMDC Ltd is in Stage 2 — advancing, 50 weeks in (confirmed). Stages follow Stan Weinstein's four-phase read of weekly price against the 200-day average: basing (1), advancing (2), topping (3), declining (4).
Why is NMDC Ltd stock rising?
The price is up 23% over the past year, in a confirmed Stage 2 uptrend (50 weeks), and has beaten NIFTY 500 for 37 weeks. Earnings are moving with the price — this is a profit-backed move, not a pure re-rating. Since 2016, the price is up 247% while earnings per share moved 265%.
Is NMDC Ltd beating the NIFTY 500?
Yes — beating NIFTY 500 for 37 weeks, as of 1 July 2026. Relative strength is measured weekly against the NIFTY 500 (Mansfield RS): a positive reading means the stock has outperformed the index over the trailing window, week after week.
Where is NMDC Ltd in its business cycle?
The data reads NMDC Ltd as a deep cyclical business currently in its expansion phase — earnings at 71% of their own historical range, valuation at the 62nd percentile. Profits swing violently in this business — margins swinging 35 points peak to trough. That is what “deep cyclical” means: the same company looks brilliant at the top of its cycle and broken at the bottom.
Who owns NMDC Ltd — what is the promoter holding?
Promoters hold 60.8%, essentially unchanged. Foreign funds own 13.6%, domestic funds 13.8%. Meanwhile domestic funds have been the sellers — from 18.0% to 13.8% over the window. Someone on the other side of the table disagrees; both sides count. Shareholding is from Screener's quarterly filings data.
Does NMDC Ltd have too much debt?
Almost no debt — this company cannot be killed by a bad year. For every ₹100 shareholders have put in (and left in), the company has borrowed ₹19 — total borrowings have grown from ₹0.0 Cr to ₹6,407 Cr over the window.
What is the bull case for NMDC Ltd?
Profits are up 34% in two years, the price has kept pace — no more, no less. Best thing in the data: cash generation rising (₹1,894 Cr → ₹4,996 Cr). Sales exploded 62% last quarter — growth every single quarter for over 2 years.
What is the bear case for NMDC Ltd — what could break the story?
Biggest worry: free cash flow falling (₹2,200 Cr → ₹1,154 Cr). Two quarters of sales reversing would kill this story. The nearest-term thing to watch: if quarterly growth slips below 31%, the story weakens. This falsification condition is stated up front so the thesis can be checked against incoming quarters, not defended after the fact.
Is NMDC Ltd a stock worth studying right now?
Sector Alpha does not publish buy or sell recommendations — this is a research read, not advice. What the data says: interesting, not obvious. The numbers are genuinely mixed, and the price is roughly fair to the delivery so far. Across the 7-model scorecard the composite research signal is on watch at 56% confidence. This is machine-written research compiled from Screener data — every number traces to its source — and it is not investment advice. Do your own diligence.