India · Delayed Price · Currency is INR NMDC Limited Earnings Call Transcripts
Fiscal Year 2026
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Record production and revenue growth achieved, with strong PAT and robust CapEx plans to support expansion toward 100 million tons by decade end. Diversification into coal and rare earths, new blending yard, and pellet capacity to drive future growth, while margins remain resilient and demand outlook is strong.
Fiscal Year 2025
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PAT grew 19% year-over-year despite production challenges, with record CapEx and ambitious expansion plans targeting 55.4 million tons in FY 2026. NSL achieved rapid ramp-up and is expected to turn cash positive, while index-based pricing and high-grade pellet exports are set to boost margins.
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Q3 FY25 saw record production and strong financials, with CapEx set to double year-over-year. Royalty costs rose due to higher output, and logistics remain a bottleneck. The company targets 53 million tons in FY26 and 60 million tons in FY27, with a long-term CapEx plan of INR 70,000 crores.
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PBT and PAT rose 19%-20% year-over-year despite a 14% production drop, with strong cost control and clear recovery plans for potential tax liabilities. NSL is on track for break-even, and CapEx projects are progressing, supporting a 50 million ton volume target for FY25.