NMDC Limited

NSEI:NMDC Stock Report

Market Cap: ₹596.2b

NMDC Valuation

Is NMDC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of NMDC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
₹54.29
Fair Value
24.9% overvalued intrinsic discount
17
Number of Analysts

Below Fair Value: NMDC (₹67.83) is trading above our estimate of fair value (₹54.29)

Significantly Below Fair Value: NMDC is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for NMDC?

Key metric: As NMDC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NMDC. This is calculated by dividing NMDC's market cap by their current earnings.
What is NMDC's PE Ratio?
PE Ratio9.2x
Earnings₹64.78b
Market Cap₹596.17b

Price to Earnings Ratio vs Peers

How does NMDC's PE Ratio compare to its peers?

The above table shows the PE ratio for NMDC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average33.3x
SAIL Steel Authority of India
21.3x36.7%₹479.1b
JINDALSTEL Jindal Steel & Power
22.6x38.6%₹924.6b
533758 APL Apollo Tubes
70x28.7%₹444.0b
JSL Jindal Stainless
19.4x29.1%₹469.0b
NMDC NMDC
9.2x6.7%₹596.2b

Price-To-Earnings vs Peers: NMDC is good value based on its Price-To-Earnings Ratio (9.2x) compared to the peer average (33.3x).

Price to Earnings Ratio vs Industry

How does NMDC's PE Ratio compare vs other companies in the IN Metals and Mining Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
590078 Maithan Alloys
3.2xn/aUS$314.31m
526608 Electrotherm (India)
3.7xn/aUS$156.46m
522165 Indsil Hydro Power and Manganese
1.2xn/aUS$14.24m
PRAKASHSTL Prakash Steelage
3.3xn/aUS$14.16m
NMDC 9.2xIndustry Avg. 20.9xNo. of Companies33PE01632486480+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NMDC is good value based on its Price-To-Earnings Ratio (9.2x) compared to the Indian Metals and Mining industry average (20.4x).

Price to Earnings Ratio vs Fair Ratio

What is NMDC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

NMDC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio9.2x
Fair PE Ratio23.9x

Price-To-Earnings vs Fair Ratio: NMDC is good value based on its Price-To-Earnings Ratio (9.2x) compared to the estimated Fair Price-To-Earnings Ratio (23.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst NMDC forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹67.83
₹72.65
+7.1%
15.6%₹94.00₹55.00n/a17
Apr ’26₹69.77
₹72.82
+4.4%
15.6%₹94.00₹55.00n/a17
Mar ’26₹62.48
₹74.81
+19.7%
17.5%₹108.33₹56.00n/a19
Feb ’26₹64.38
₹79.33
+23.2%
16.5%₹108.33₹57.00n/a18
Jan ’26₹65.98
₹80.88
+22.6%
15.6%₹108.33₹60.00n/a19
Dec ’25₹76.69
₹80.88
+5.5%
15.6%₹108.33₹60.00n/a19
Nov ’25₹74.28
₹80.14
+7.9%
16.6%₹108.33₹60.00n/a19
Oct ’25₹81.51
₹79.39
-2.6%
17.6%₹108.33₹56.67n/a19
Sep ’25₹74.22
₹79.44
+7.0%
17.6%₹108.33₹56.67n/a19
Aug ’25₹80.91
₹83.32
+3.0%
18.8%₹108.33₹56.67n/a19
Jul ’25₹83.87
₹83.04
-1.0%
19.5%₹108.33₹56.67n/a19
Jun ’25₹86.72
₹82.02
-5.4%
18.3%₹100.33₹56.67n/a18
May ’25₹84.80
₹74.00
-12.7%
19.6%₹96.67₹51.67n/a18
Apr ’25₹70.87
₹74.45
+5.1%
20.3%₹96.67₹51.67₹69.7717
Mar ’25₹77.02
₹74.96
-2.7%
21.1%₹96.67₹51.67₹62.4817
Feb ’25₹75.13
₹62.06
-17.4%
20.1%₹87.00₹38.33₹64.3818
Jan ’25₹70.48
₹58.07
-17.6%
17.1%₹76.00₹38.33₹65.9818
Dec ’24₹60.68
₹55.93
-7.8%
16.6%₹66.67₹38.33₹76.6919
Nov ’24₹51.22
₹49.77
-2.8%
16.1%₹62.67₹37.67₹74.2819
Oct ’24₹49.32
₹48.22
-2.2%
15.7%₹60.00₹35.00₹81.5120
Sep ’24₹43.50
₹45.47
+4.5%
12.9%₹60.00₹35.00₹74.2220
Aug ’24₹38.95
₹44.16
+13.4%
13.4%₹60.00₹35.00₹80.9119
Jul ’24₹34.88
₹44.39
+27.2%
13.7%₹60.00₹35.00₹83.8718
Jun ’24₹35.63
₹45.22
+26.9%
12.7%₹60.00₹37.67₹86.7218
May ’24₹36.17
₹46.61
+28.9%
11.4%₹60.00₹37.67₹84.8018
Apr ’24₹37.18
₹47.07
+26.6%
10.4%₹60.00₹40.00₹70.8718
AnalystConsensusTarget
Consensus Narrative from 17 Analysts
₹72.67
Fair Value
6.7% undervalued intrinsic discount
17
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/04/21 03:58
End of Day Share Price 2025/04/21 00:00
Earnings2024/12/31
Annual Earnings2024/03/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

NMDC Limited is covered by 50 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Nitin BhasinAmbit Capital
Bhavesh ChauhanAngel Broking Private Limited
null nullAntique Stockbroking Ltd.