India · Delayed Price · Currency is INR NMDC Limited Earnings Call Transcripts
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.