Price Target Changed • Jun 03
Price target increased by 7.1% to ₹88.30 Up from ₹82.47, the current price target is an average from 20 analysts. New target price is 8.1% below last closing price of ₹96.04. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₹9.32 for next year compared to ₹8.47 last year. Announcement • May 30
NMDC Limited Recommends Final Dividend for the Financial Year 2025-26 NMDC Limited at its meeting, the Board of Directors recommended the payment of Final Dividend of INR 1 per share on the face value of INR 1 (Rupee One only) each for the financial year 2025-26, subject To Approve the shareholders in the ensuing Annual General Meeting (AGM). This is in addition to the Interim Dividend for Fiscal Year 2025-26 of 2.50 per equity share already declared and paid during the financial year. Reported Earnings • May 30
Full year 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2026 results: EPS: ₹8.47 (up from ₹7.44 in FY 2025). Revenue: ₹335.6b (up 40% from FY 2025). Net income: ₹74.5b (up 14% from FY 2025). Profit margin: 22% (down from 27% in FY 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) missed analyst estimates by 1.2%. Revenue is expected to decline by 3.6% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in India are expected to grow by 12%. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 25
NMDC Limited to Report Q4, 2026 Results on May 29, 2026 NMDC Limited announced that they will report Q4, 2026 results on May 29, 2026 Upcoming Dividend • Feb 06
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 13 February 2026. Payment date: 05 March 2026. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 4.2%. Within top quartile of Indian dividend payers (1.4%). Higher than average of industry peers (2.1%). Reported Earnings • Feb 04
Third quarter 2026 earnings released: EPS: ₹2.00 (vs ₹2.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.00 (down from ₹2.14 in 3Q 2025). Revenue: ₹76.1b (up 16% from 3Q 2025). Net income: ₹17.6b (down 6.7% from 3Q 2025). Profit margin: 23% (down from 29% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 30
NMDC Limited to Report Q3, 2026 Results on Feb 03, 2026 NMDC Limited announced that they will report Q3, 2026 results on Feb 03, 2026 Announcement • Jan 08
Nmdc Limited Announces Cessation of Shri Vishwanath Suresh as Director, Effective January 7, 2026 NMDC Limited announced Shri Vishwanath Suresh has been relieved from the services of NMDC Limited and ceased to be a Director on the Board of NMDC Limited with effect from January 7, 2026. Reported Earnings • Oct 30
Second quarter 2026 earnings released: EPS: ₹1.93 (vs ₹1.38 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.93 (up from ₹1.38 in 2Q 2025). Revenue: ₹63.8b (up 30% from 2Q 2025). Net income: ₹17.0b (up 40% from 2Q 2025). Profit margin: 27% (up from 25% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has increased by 27% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 26
NMDC Limited to Report Q2, 2026 Results on Oct 29, 2025 NMDC Limited announced that they will report Q2, 2026 results on Oct 29, 2025 Reported Earnings • Aug 09
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹7.44 (up from ₹6.34 in FY 2024). Revenue: ₹239.1b (up 12% from FY 2024). Net income: ₹65.4b (up 17% from FY 2024). Profit margin: 27% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Production and reserves: Iron Production: 44.07 Mt (45.02 Mt in FY 2024) Number of mines: 1 (2 in FY 2024) Diamond Production: 0.9 kg (0.1 kg in FY 2024) Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 1.1%. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 22% per year, which means it is well ahead of earnings. Upcoming Dividend • Aug 07
Upcoming dividend of ₹1.00 per share Eligible shareholders must have bought the stock before 14 August 2025. Payment date: 28 September 2025. Payout ratio is a comfortable 44% but the company is not cash flow positive. Trailing yield: 4.6%. Within top quartile of Indian dividend payers (1.3%). Higher than average of industry peers (2.8%). Announcement • Aug 04
NMDC Limited to Report Q1, 2026 Results on Aug 12, 2025 NMDC Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Announcement • Jul 31
NMDC Limited, Annual General Meeting, Aug 29, 2025 NMDC Limited, Annual General Meeting, Aug 29, 2025, at 11:30 Indian Standard Time. Reported Earnings • May 28
Full year 2025 earnings: EPS in line with analyst expectations despite revenue beat Full year 2025 results: EPS: ₹7.44 (up from ₹6.34 in FY 2024). Revenue: ₹239.1b (up 12% from FY 2024). Net income: ₹65.4b (up 17% from FY 2024). Profit margin: 27% (up from 26% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 10% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • May 23
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 7.0% to ₹72.49. The fair value is estimated to be ₹60.20, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Announcement • May 19
NMDC Limited to Report Q4, 2025 Results on May 27, 2025 NMDC Limited announced that they will report Q4, 2025 results on May 27, 2025 Buy Or Sell Opportunity • Apr 15
Now 20% overvalued after recent price rise Over the last 90 days, the stock has risen 3.1% to ₹65.14. The fair value is estimated to be ₹54.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to grow by 20% in the next 2 years. Announcement • Mar 01
NMDC Limited Appoints Priyadarshini Gaddam as Director NMDC Limited informed that Smt. Priyadarshini Gaddam has been appointed as Director (Personnel) on the Board of the company from the date of her assumption of the charge of the post i.e. 28th February 2025, till the date of her superannuation i.e. 31st January 2026, or until further orders, whichever is earlier. Smt. Priyadarshini Gaddam has assumed charge as the Director (Personnel) of the Navratna mining company NMDC Limited. Joining NMDC in 1992, she steadily rose through the company's ranks and emerged as a leader with three decades of committed service in Personnel and Administration. Prior to her appointment as Director (Personnel), Smt. Priyadarshini served as Chief General Manager (P&A) and the Head of Personnel at the NMDC Corporate Office in Hyderabad as well as for NMDC Steel Limited in Nagarnar. Her tenure has been marked by significant contributions towards streamlining the processes and procedures in Industrial Relations, Recruitment, Medical Policies and Stakeholder Management. Smt. Priyadarshini has played a defining role in shaping an ecosystem that ensures a safe workplace for women and equal opportunities for persons with benchmark disabilities while setting the highest standards of employee welfare at NMDC. She has achieved milestone outcomes in negotiating wage settlements and navigating business transformations. Her expertise proved instrumental in representing NMDC in the Second Pay Revision Commission with respect to the Pay Revision of CPSEs and also during the company's acquisition of the Sponge Iron Unit. Smt. Priyadarshini's leadership came to the forefront at NMDC Steel Limited (NSL) where she steered the R&R Policy, advocated for skill development initiatives for the community and established the Fire Department, Occupational Health Centre, and Primary Health Centre at NSL, all of which contributed to the overall well-being and safety of the workforce. She holds a graduate degree in Arts, a Master's in Social Work (Personnel Management and Industrial Relations) and an LLB from Osmania University, Hyderabad. With her at the helm as the Director (Personnel), NMDC is stronger in its resolve to propel towards collective growth and build an iron strong future. Buy Or Sell Opportunity • Feb 14
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 15% to ₹61.93. The fair value is estimated to be ₹78.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.9% over the last 3 years. Earnings per share has declined by 16%. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 19% in the next 2 years. Reported Earnings • Feb 07
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: ₹2.14 (up from ₹1.69 in 3Q 2024). Revenue: ₹65.7b (up 21% from 3Q 2024). Net income: ₹18.8b (up 27% from 3Q 2024). Profit margin: 29% (up from 27% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 69%. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Announcement • Feb 01
NMDC Limited Announces Cessation of Sanjeet as Government Nominee Director NMDC Limited announced that Ministry of Steel, Government of India vide Office Memorandum No. S-14011/1/2022-BLA dated 31 January 2025 has communicated that Shri Sanjeet ceases to be the Government Nominee Director on the Board of NMDC Limited with effect from 17 January 2025. List of Directors on the Board of NMDC Limited: Shri Amitava Mukherjee - Director (Finance) holding Additional Charge of Chairman cum Managing Director. Shri Vishwanath Suresh - Director (Commercial). Shri Vinay Kumar - Director (Technical). Shri Joydeep Dasgupta - Director (Production). Government Directors: Shri Abhijit Narendra - Government Director, Joint Secretary, Ministry of Steel, Government of India. Announcement • Jan 30
NMDC Limited to Report Q3, 2025 Results on Feb 06, 2025 NMDC Limited announced that they will report Q3, 2025 results on Feb 06, 2025 Price Target Changed • Jan 20
Price target increased by 7.7% to ₹87.11 Up from ₹80.88, the current price target is an average from 18 analysts. New target price is 30% above last closing price of ₹67.11. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of ₹8.04 for next year compared to ₹6.34 last year. Announcement • Jan 10
NMDC Limited Announces Appointment of Sanjeet as Government Director on the Board of the Company NMDC Limited announced the appointment of Sanjeet JS & FA, Ministry of Housing and Urban Affairs with additional charge of JS & FA, Ministry of Steel as Government Director on the Board of the Company. Shri Sanjeet is an Indian Railway Accounts Service (IRAS) Officer of 1998 batch. Presently he is serving as Joint Secretary & Financial Advisor in the Ministry of Housing and Urban Affairs, Government of India since 12th December, 2022. He is also serving in additional charge of Joint Secretary & Financial Adviser in the Ministry of Steel since 23.12.2024. Shri Sanjeet, holds Masters and M.Phil. degree(s) in International Studies from Jawaharlal Nehru University, New Delhi in addition to Master of Business Administration. Shri Sanjeet has around 26 years of rich, varied and multi-disciplinary experience in the field of Finance & Accounts, Administration, financial appraisal of proposals, Expenditure & Budgetary issues, Tender and Contract management, Procurement & Auction, Policy issues on Pay & Allowances and Audit functions. He has in the past held various important positions in the Indian Railways. Before joining as JS&FA, he was posted as Executive Director in Railway Board. He has also worked as GM F&A in CONCOR, a Railway PSU, Financial Advisor in Northern Railway and Senior Divisional Finance manager, Lucknow. Shri Sanjeet has participated in various training programmes and workshops both domestic and international level. Recently he was part of the HUDCO delegation to raise funds from Japan & Singapore (Multilateral Development Banks). He has attended Advanced Management programme from ISEAD, Singapore and ICLIF, Malaysia. He was part of Finance & Accounts Technical Training Programme at European School of Business, London and Paris. Sh. Sanjeet has also attended Container Terminal Management program at Antwerp, Belgium. He has attended Eighth Annual India unlimited Investors conference at Singapore. Shri Sanjeet was instrumental in setting up of New Computer Centre in Traffic Accounts Office & implementation of PRIME, disposal of scrap, Clearing of Traffic suspense, for which he has been conferred with various awards from time to time. He has also been awarded Certificate of Merit from National Institute of Financial Management. Announcement • Dec 29
NMDC Limited Appoints Shri Sanjay Singh as Non-Official Independent Directors NMDC Limited had intimated about the appointment of Shri Sanjay Singh as Non-Official Independent Directors for a period of three years from the date of notification of their appointment, or until orders, whichever is earlier. Buy Or Sell Opportunity • Nov 16
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at ₹219. The fair value is estimated to be ₹277, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.1% over the last 3 years. Earnings per share has declined by 22%. Revenue is forecast to grow by 20% in 2 years. Earnings are forecast to grow by 28% in the next 2 years. Reported Earnings • Nov 12
Second quarter 2025 earnings released: EPS: ₹4.13 (vs ₹3.50 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.13 (up from ₹3.50 in 2Q 2024). Revenue: ₹52.8b (up 32% from 2Q 2024). Net income: ₹12.1b (up 18% from 2Q 2024). Profit margin: 23% (down from 26% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Nov 05
NMDC Limited to Report Q2, 2025 Results on Nov 11, 2024 NMDC Limited announced that they will report Q2, 2025 results on Nov 11, 2024 Announcement • Nov 01
NMDC Limited Announces Board Changes NMDC Limited announced that n terms of Ministry of Steel, Government of India's Order No. 1/10/2015-BLA (Vol-V) (pt.) dated November 01, 2021, the Company had intimated about the appointment of Dr. Anil Sadashivrao Kamble and Shri Vishal Babber as Non-Official Independent Directors on the Board of NMDC Limited for a period of three years from the date of notification of their appointment, or until orders, whichever is earlier. Accordingly, the tenure of the aforesaid Independent Directors in terms of Ministry of Steel Order dated November 01, 2021, has ended on October 31, 2024. Announcement • Oct 29
The Union Government Plans to Merge KIOCL with NMDC The Union government is planning to merge KIOCL Limited (NSEI:KIOCL) ((Kudremukh Iron Ore Company Ltd.) with India’s largest iron ore merchant miner, NMDC Limited (BSE:526371) soon, according to a senior steel ministry official. This follows KIOCL Limited (NSEI:KIOCL)'s challenges in commencing mining operations at Devadari in Karnataka, the official said. Detailed proposals, currently being prepared, will assess whether NMDC needs to make any payments to the steel ministry or the Centre in relation to the merger, it is learnt. The report will also evaluate the viability of the merger. The merger or amalgamation will require additional clearances from several ministries. Announcement • Oct 17
NMDC Limited Announces Sukriti Likhi Ceased to Be Government Director on the Board In terms of Regulation 30 read with Schedule III of the SEBI (LODR) Regulations, 2015, it is hereby informed that Ministry of Steel, Govt. of India vide Office Memorandum No. S-14011/16/2024-BLA dated 16.10.2024 has communicated that in pursuance of Department of Personnel and Training's communication no. 36/01/2024-EO(SM-I) dated 16.08.2024, Ms. Sukriti Likhi, IAS (HY:93), has relinquished the charge of Additional Secretary and Financial Adviser, Ministry of Steel w.e.f. 19.08.2024 (FN). Consequently, Ms. Sukriti Likhi, IAS (HY:93) [DIN:01825997] has ceased to hold the charge of Government Director on the Board of NMDC Limited w.e.f. 19.08.2024 (FN). Announcement • Sep 25
NMDC Limited Approves Final Dividend for the Financial Year 2023-24 NMDC Limited announced that at its AGM held on September 24, 2024, approved the payment of final dividend of INR 1.50 per equity share for the financial year 2023-24. Upcoming Dividend • Sep 10
Upcoming dividend of ₹1.50 per share Eligible shareholders must have bought the stock before 17 September 2024. Payment date: 24 October 2024. Payout ratio is a comfortable 38% and this is well supported by cash flows. Trailing yield: 3.4%. Within top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (1.6%). Announcement • Aug 27
NMDC Limited, Annual General Meeting, Sep 24, 2024 NMDC Limited, Annual General Meeting, Sep 24, 2024, at 11:30 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2025 results: EPS: ₹6.72 (up from ₹5.64 in 1Q 2024). Revenue: ₹54.1b (flat on 1Q 2024). Net income: ₹19.7b (up 19% from 1Q 2024). Profit margin: 36% (up from 31% in 1Q 2024). Revenue missed analyst estimates by 2.6%. Earnings per share (EPS) exceeded analyst estimates by 37%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Announcement • Aug 06
NMDC Limited to Report Q1, 2025 Results on Aug 12, 2024 NMDC Limited announced that they will report Q1, 2025 results on Aug 12, 2024 Announcement • Jul 02
Shri Mohanty Ceases to Be Director (Production) on the Board of NMDC Limited Ministry of Steel, Government of India vide Order No. 3/1/2020-BLA dated October 5, 2021 had appointed Shri Dilip Kumar Mohanty as Director (Production) on the Board of NMDC Ltd. It is now informed that on attaining the age of superannuation on June 30, 2024, Shri Mohanty has ceased to be Director (Production) on the Board of the company and has been relieved from the services of the company on June 30, 2024. Price Target Changed • May 31
Price target increased by 7.4% to ₹242 Up from ₹225, the current price target is an average from 18 analysts. New target price is 7.1% below last closing price of ₹260. Stock is up 139% over the past year. The company is forecast to post earnings per share of ₹24.35 for next year compared to ₹19.02 last year. Reported Earnings • May 28
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹19.02 (down from ₹19.12 in FY 2023). Revenue: ₹213.1b (up 21% from FY 2023). Net income: ₹55.8b (flat on FY 2023). Profit margin: 26% (down from 32% in FY 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 4.3%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 9.6% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Announcement • May 19
NMDC Limited to Report Q4, 2024 Results on May 27, 2024 NMDC Limited announced that they will report Q4, 2024 results on May 27, 2024 Announcement • Apr 19
NMDC Limited Announces the Resignation of Sanjay Tandon as Director NMDC Limited announced that the letter of resignation from Shri Sanjay Tandon, director was received on April 15, 2024. Accordingly, the effective date of resignation has been taken on record as April 15, 2024. Reasons for resignation: Due to personal commitments. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹202, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 153% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹144 per share. Upcoming Dividend • Feb 20
Upcoming dividend of ₹5.75 per share Eligible shareholders must have bought the stock before 27 February 2024. Payment date: 15 March 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 2.4%. Within top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (6.2%). Price Target Changed • Feb 17
Price target increased by 18% to ₹225 Up from ₹190, the current price target is an average from 17 analysts. New target price is 8.0% below last closing price of ₹244. Stock is up 102% over the past year. The company is forecast to post earnings per share of ₹20.92 for next year compared to ₹19.12 last year. Reported Earnings • Feb 15
Third quarter 2024 earnings released: EPS: ₹5.06 (vs ₹3.11 in 3Q 2023) Third quarter 2024 results: EPS: ₹5.06 (up from ₹3.11 in 3Q 2023). Revenue: ₹57.5b (up 55% from 3Q 2023). Net income: ₹14.8b (up 63% from 3Q 2023). Profit margin: 26% (up from 25% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has fallen by 8% per year but the company’s share price has increased by 27% per year, which means it is well ahead of earnings. Announcement • Feb 14
NMDC Limited Declares First Interim Dividend for the Financial Year 2023-24 NMDC Limited announced at the board meeting held on February 14, 2024, declared first Interim Dividend @ INR 5.75 per equity share of face value of INR 1 each for the financial year 2023-24. The said Interim Dividend shall be paid /dispatched within the prescribed timelines as per the provisions of the Companies Act, 2013 to those equity shareholders of the Company whose names appear in the Register of Members /records of Depositories as beneficial owners of the equity shares as on the 27 February 2024, which is the Record Date fixed for the purpose. Price Target Changed • Feb 02
Price target increased by 7.5% to ₹190 Up from ₹177, the current price target is an average from 17 analysts. New target price is 19% below last closing price of ₹236. Stock is up 99% over the past year. The company is forecast to post earnings per share of ₹20.04 for next year compared to ₹19.12 last year. Announcement • Feb 01
NMDC Limited to Report Q3, 2024 Results on Feb 14, 2024 NMDC Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Price Target Changed • Nov 20
Price target increased by 7.0% to ₹160 Up from ₹149, the current price target is an average from 19 analysts. New target price is 6.4% below last closing price of ₹171. Stock is up 48% over the past year. The company is forecast to post earnings per share of ₹19.96 for next year compared to ₹19.12 last year. New Risk • Nov 19
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Reported Earnings • Nov 16
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: ₹3.50 (up from ₹3.32 in 2Q 2023). Revenue: ₹43.4b (up 30% from 2Q 2023). Net income: ₹10.3b (up 5.6% from 2Q 2023). Profit margin: 24% (down from 29% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.2%. Earnings per share (EPS) also missed analyst estimates by 10%. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Oct 19
NMDC Limited to Report Q2, 2024 Results on Nov 14, 2023 NMDC Limited announced that they will report Q2, 2024 results on Nov 14, 2023 Upcoming Dividend • Aug 24
Upcoming dividend of ₹2.85 per share at 4.7% yield Eligible shareholders must have bought the stock before 31 August 2023. Payment date: 07 October 2023. Payout ratio is a comfortable 35% but the company is paying out more than the cash it is generating. Trailing yield: 4.7%. Within top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (7.4%). Reported Earnings • Aug 12
First quarter 2024 earnings released: EPS: ₹5.64 (vs ₹4.92 in 1Q 2023) First quarter 2024 results: EPS: ₹5.64 (up from ₹4.92 in 1Q 2023). Revenue: ₹53.9b (up 13% from 1Q 2023). Net income: ₹16.5b (up 15% from 1Q 2023). Profit margin: 31% (in line with 1Q 2023). Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 7% per year. Announcement • Aug 04
NMDC Limited to Report Q1, 2024 Results on Aug 11, 2023 NMDC Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Announcement • May 25
Nmdc Limited Recommends Payment of Final Dividend for the Financial Year 2022-23 NMDC Limited recommended the payment of Final Dividend of INR 2.85 (Rupee Two and Eighty Five paise only) per share on the face value of INR 1/- each for the financial year 2022-23, subject To Approve the shareholders in the upcoming Annual General Meeting (AGM). This is in addition to the Interim Dividend of INR 3.75 per equity share already declared and paid during the financial year. The Final Dividend for the financial year 2022-23 of INR 2.85 per share, if declared at the upcoming AGM, will be paid to the shareholders within 30 days from the date of AGM. Reported Earnings • May 24
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: ₹19.11 (down from ₹32.01 in FY 2022). Revenue: ₹184.4b (down 29% from FY 2022). Net income: ₹56.0b (down 40% from FY 2022). Profit margin: 30% (down from 36% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 6.2% p.a. on average during the next 2 years, compared to a 4.4% growth forecast for the Metals and Mining industry in India. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 12% per year, which means it is significantly lagging earnings growth. Announcement • May 21
NMDC Limited Announces Appointment of Shri Vinay Kumar as Director (Technical) NMDC Limited announced that Shri Vinay Kumar has been appointed as Director (Technical) on the Board of Directors of NMDC Limited for a period of five years from the date of his assumption of charge of the post (i.e. May 19, 2023), till the date of his superannuation or until further orders, whichever is the earliest. With three decades of experience in Mining, Training, Safety & Environment and Project Management, Shri Vinay Kumar has been serving NMDC since 1992. Prior to his new assignment as Director (Technical), he was Chief General Manager (CGM) and immensely contributed as the Project Head of BIOM Kirandul Complex, Chhattisgarh. Shri Vinay Kumar was spearheading expansion and execution of ambitious Projects such as Rapid Wagon Loading System (RWLS), Screening Plant- III and Doubling of KK Line. He also played a key role in the construction and commissioning of NMDC's fully mechanized 7 MTPA Kumaraswamy Mines in Karnataka. A B.Tech (Mining) from IIT BHU, he started his career as NMDC's Executive Trainee and rose to the position of CGM. In these years, he has gained a reputation for solving critical issues in Mine Development and Project Execution. In the stewardship of Shri Vinay Kumar, Kirandul Complex received 5 star rating by IBM and various awards from prestigious organizations in the field of Safety, Environment, CSR and Occupational Health. His stint as Director (Technical) will help NMDC timely execute all expansion and diversification projects, building new inroads in automation & digitalization towards NMDC 2.0. Announcement • May 13
NMDC Limited to Report Q4, 2023 Results on May 23, 2023 NMDC Limited announced that they will report Q4, 2023 results on May 23, 2023 Buying Opportunity • Feb 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 1.2%. The fair value is estimated to be ₹146, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 26%. Revenue is forecast to grow by 0.6% in 2 years. Earnings is forecast to decline by 9.4% in the next 2 years. Upcoming Dividend • Feb 17
Upcoming dividend of ₹3.75 per share at 6.2% yield Eligible shareholders must have bought the stock before 24 February 2023. Payment date: 06 March 2023. Trailing yield: 6.2%. Within top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (7.1%). Reported Earnings • Feb 16
Third quarter 2023 earnings released: EPS: ₹3.11 (vs ₹6.99 in 3Q 2022) Third quarter 2023 results: EPS: ₹3.11 (down from ₹6.99 in 3Q 2022). Revenue: ₹37.2b (down 37% from 3Q 2022). Net income: ₹9.12b (down 56% from 3Q 2022). Profit margin: 25% (down from 35% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 5.2% p.a. on average during the next 2 years, while revenues in the Metals and Mining industry in India are expected to grow by 3.3%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Announcement • Feb 15
Nmdc Limited Declares First Interim Dividend for the Financial Year 2022-23 NMDC Limited Declared first interim dividend at the rate of INR 3.75 ps. (Rupees Three and Seventy Five Paise Only) per equity share of face value of INR 1 /-each for the financial year 2022-23. Announcement • Feb 10
NMDC Limited Announces Board Changes NMDC Limited announced that Shri Abhijit Narendra, Joint Secretary, Ministry of Steel has been appointed as Government Director on the Board of Directors of the company with immediate effect (i.e., 9th February 2023) and until further orders, vice Smt. Rasika Chaube, former Additional Secretary, Ministry of Steel. Shri Abhijit Narendra is an officer of 1993 batch, Indian Railway Traffic Service (IRTS) and is presently posted as Joint Secreta1y, Ministry of Steel. He holds a degree in B.Sc and LL.B. He has served in different areas of railways including operation, commercial and safety management which gave him rich experience of production and sales management of Indian Railways. His tenure in Railway Board gave him a broader perspective of transportation business and railways modal share. He has also worked in Centre for Railways Information System (CRIS), the IT arm of Indian Railways which gave him the insight of development, execution and running of IT applications. He has also worked in Ministry of Railways in the area of infrastructure development through PPP, project structures and financing, logistics etc. He has also been associated with planning & execution of big ticket railway infrastructure projects like High Speed Rail and Dedicated Freight Corridor. He has also represented the organization and nation in various international meetings and conferences. He has been working as Joint Secretary, Minist1y of Steel since March, 2022.