---
title: "NMDC Steel Ltd (NSLNISP) — Share Price, Financials & Analysis"
symbol: "NSLNISP"
company: "NMDC Steel Ltd"
canonical: "https://tapetide.com/stocks/NSLNISP"
isin: "INE0NNS01018"
nse_symbol: "NSLNISP"
bse_code: "543768"
sector: "Metals & Mining"
industry: "Iron & Steel"
market_cap_cr: 12499.03
generated_at: "2026-09-13T19:41:10.478Z"
---

# NMDC Steel Ltd (NSLNISP)

Canonical page: https://tapetide.com/stocks/NSLNISP

## Company

- **NSE Symbol:** NSLNISP
- **BSE Code:** 543768
- **ISIN:** INE0NNS01018
- **Sector:** Metals & Mining
- **Industry:** Iron & Steel
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2023-02-20
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nmdcsteel.nmdc.co.in

## About

National Mineral Development Corporation (NMDC), a Navratna Public Sector Enterprise under the Ministry of Steel, Government of India is the single largest producer of iron ore in India. It owns and operates iron ore mines in Chhattisgarh and Karnataka and has its registered office at Hyderabad, Telangana.[1]

## Latest Price

- **Price:** ₹43.66
- **Change:** -0.2 (-0.46%)
- **Open:** ₹43.36
- **Day High:** ₹43.83
- **Day Low:** ₹42.46
- **Previous Close:** ₹43.86
- **Volume:** 3568740
- **As Of:** 2026-09-11T10:25:00+00:00

## Key Fundamentals

Observed at 2026-09-11T04:42:15.082547Z.

- **Market Cap:** ₹12499.03 Cr
- **Classification:** Microcap
- **P/E (reported):** 151.3
- **P/E (TTM):** 150.55
- **EPS (TTM):** ₹0.29
- **EPS (reported):** ₹0
- **Book Value:** ₹44.95
- **Price to Book:** 0.98
- **Dividend Yield:** 0%
- **ROE:** 0.45%
- **ROCE:** 3.51%
- **Debt to Equity:** 0.35
- **Revenue (yearly):** ₹13727.8 Cr
- **Net Income:** ₹58.7 Cr
- **EBITDA:** ₹1604.2 Cr
- **52-Week High:** ₹53.75
- **52-Week Low:** ₹33.01
- **RSI (14):** 48.96

## Tapetide Score

- **Score:** 57 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Rising
- **Percentile:** 77.8 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 27.11 | 9% |
| growth | 95.88 | 9% |
| momentum | 71.5 | 12% |
| ownership | 62.53 | 24% |
| quality | 54.48 | 22% |
| valuation | 45.44 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has reduced debt.
- Stock is trading at 0.97 times its book value
- Company is expected to give good quarter

### Weaknesses

- Company has low interest coverage ratio.
- Company has a low return on equity of -8.86% over last 3 years.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -8.67% | 163.56% | 141.73% |
| ebitda margin growth | -46.81% | -158.39% | -128.11% | — |
| net income growth | -87.11% | -102.47% | -103.76% | 468% |
| revenue growth | -5.13% | 60.1% | 63.03% | — |
| roce | — | -124.41% | -141.79% | -3.85% |
| roe | — | -102.49% | -9.24% | -97.96% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 277 | 926 | 1846 | 2023 | 1522 | 2120 | 2838 | 3365 | 3390 | 3008 | 3879 | 3662 |
| Expenses | 350 | 1335 | 2801 | 2424 | 1963 | 2776 | 3129 | 2958 | 3183 | 2910 | 3073 | 3262 |
| Operating Profit | -72 | -409 | -956 | -401 | -441 | -656 | -291 | 408 | 207 | 98 | 806 | 400 |
| OPM % | -26 | -44 | -52 | -20 | -29 | -31 | -10 | 12 | 6 | 3.2 | 21 | 11 |
| Other Income | 13 | 16 | 90 | 21 | 13 | 18 | 19 | 20 | 21 | 19 | 26 | 43 |
| Interest | 41 | 134 | 155 | 153 | 161 | 165 | 172 | 134 | 128 | 128 | 96 | 126 |
| Depreciation | 75 | 226 | 252 | 239 | 240 | 253 | 221 | 258 | 283 | 252 | 249 | 242 |
| Profit before tax | -175 | -753 | -1273 | -772 | -829 | -1056 | -664 | 36 | -183 | -264 | 486 | 74 |
| Tax % | -25 | -25 | -32 | -29 | -28 | -28 | -29 | 29 | -37 | -8 | 19 | 32 |
| Net Profit | -131 | -568 | -861 | -547 | -595 | -758 | -473 | 26 | -115 | -244 | 392 | 51 |
| EPS in Rs | -0.45 | -1.94 | -2.94 | -1.87 | -2.03 | -2.59 | -1.62 | 0.09 | -0.39 | -0.83 | 1.34 | 0.17 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 3049 | 8503 | 13642 | 13938 |
| Expenses | 0 | 0 | 0 | 0 | 4485 | 10291 | 12123 | 12428 |
| Operating Profit | 0 | 0 | 0 | 0 | -1436 | -1788 | 1518 | 1510 |
| OPM % | — | — | — | — | -47 | -21 | 11 | 11 |
| Other Income | 0 | 0 | 0 | 0 | 119 | 72 | 86 | 109 |
| Interest | 0 | 0 | 0 | 0 | 331 | 652 | 487 | 479 |
| Depreciation | 0 | 0 | 0 | 0 | 553 | 953 | 1042 | 1026 |
| Profit before tax | 0 | 0 | 0 | 0 | -2201 | -3322 | 76 | 114 |
| Tax % | 0 | 0 | — | — | -29 | -29 | 23 | — |
| Net Profit | 0 | 0 | 0 | 0 | -1560 | -2374 | 59 | 84 |
| EPS in Rs | — | — | — | 0 | -5.32 | -8.1 | 0.2 | 0.29 |
| Dividend Payout % | 0 | 0 | — | — | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.06 | 0.06 | 0 | 2931 | 2931 | 2931 | 2931 |
| Reserves | 0 | 0 | 17049 | 14118 | 12558 | 10184 | 10243 |
| Borrowings | 0 | 0 | 1691 | 3842 | 6662 | 5909 | 4613 |
| Other Liabilities | 0 | 0 | 1765 | 4678 | 7218 | 9444 | 10451 |
| Total Liabilities | 0 | 0 | 20504 | 25568 | 29368 | 28467 | 28237 |
| Fixed Assets | 0 | 0 | 1132 | 1118 | 20273 | 20131 | 19452 |
| CWIP | 0 | 0 | 17038 | 19545 | 1215 | 717 | 570 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 0 | 0 | 2334 | 4904 | 7881 | 7619 | 8215 |
| Total Assets | 0 | 0 | 20504 | 25568 | 29368 | 28467 | 28237 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 743 | 1516 | -2825 | 1966 | 1796 |
| Cash from Investing Activity | 0 | 0 | -1891 | -2189 | -228 | -506 | 109 |
| Cash from Financing Activity | 0 | 0 | 1144 | 1293 | 2439 | -1460 | -1902 |
| Net Cash Flow | 0 | 0 | -4 | 620 | -614 | 0 | 2 |
| Free Cash Flow | 0 | 0 | -1148 | -639 | -3409 | 1538 | 1525 |
| CFO/OP | 100 | 100 | — | — | 196 | -110 | 118 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | — | — | — | — | 4 | 8 | 5 |
| Inventory Days | — | — | — | — | 420 | 148 | 160 |
| Days Payable | — | — | — | — | 284 | 234 | 248 |
| Cash Conversion Cycle | — | — | — | — | 141 | -77 | -83 |
| Working Capital Days | — | — | — | — | -92 | -213 | -175 |
| ROCE % | — | -200 | 0 | 0 | -9 | -13 | 3 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% | 60.79% |
| FIIs | 3.94% | 4.33% | 4.64% | 4.52% | 4.56% | 4.58% | 4.6% | 4.67% | 5.13% | 4.8% | 4.85% | 5.49% |
| DIIs | 20.04% | 19.12% | 16.97% | 16.22% | 16.07% | 16.02% | 16.03% | 15.9% | 15.34% | 15.68% | 15.86% | 15.78% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 12.88% | 13.72% | 15.07% | 15.82% | 16.22% | 16.29% | 16.18% | 16.28% | 16.17% | 16.07% | 15.85% | 15.4% |
| Others | 2.35% | 2.04% | 2.53% | 2.65% | 2.36% | 2.32% | 2.39% | 2.36% | 2.57% | 2.65% | 2.65% | 2.54% |
| No. of Shareholders | 619682 | 623535 | 734975 | 806965 | 786835 | 797191 | 800150 | 781628 | 761194 | 740214 | 721360 | 711902 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Buy
- **Buy / Neutral / Sell:** 7 / 6 / 6

### Moving Averages — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 45.24 | Sell |
| EMA (10) | 44.6 | Sell |
| SMA (20) | 43.48 | Buy |
| EMA (20) | 44.24 | Sell |
| SMA (50) | 43.38 | Buy |
| EMA (50) | 43.86 | Sell |
| SMA (100) | 44.23 | Sell |
| EMA (100) | 43.5 | Buy |
| SMA (200) | 42.31 | Buy |
| EMA (200) | 42.55 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.15 | Neutral |
| MACD (12,26,9) | 0.44 | Sell |
| Stochastic (14,3,3) | 46.1 | Neutral |
| ADX (14) | 27.78 | Buy |
| Williams %R (14) | -59.98 | Neutral |
| ATR (14) | 1.65 | High Volatility |
| ROC (12) | 5.36 | Buy |
| Stoch RSI (14) | 36.26 | Neutral |
| UO (7,14,28) | 41.47 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-07 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a50c8e60-9be1-4298-9706-1f57b050541a.pdf) |
| 2026-09-06 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=04e8906f-4acc-4bcd-9776-8f4366e57d9c.pdf) |
| 2026-09-06 | [Business Responsibility and Sustainability Reporting (BRSR)](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=98998633-db62-4a25-9126-6f5ae780048b.pdf) |
| 2026-08-28 | [Clarification With Regard To Spurt In Volume](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d4ca7712-2677-4cec-ab67-a1f651e6b2af.pdf) |
| 2026-08-28 | [Clarification With Regard To Spurt In Volume](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=25d1b71c-4aee-4ab9-8f98-0698a2f78819.pdf) |
| 2026-08-27 | [Announcement under Regulation 30 (LODR)-Change in Directorate](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2160c08a-a5d1-4bfa-8049-4b249644a9c1.pdf) |
| 2026-08-25 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=72eb9c4e-7c7d-45e0-abfc-b8dcca0d9a48.pdf) |
| 2026-08-24 | [Convening Of 11Th Annual General Meeting (AGM) Of NMDC Steel Limited Through VC / OAVM.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bf2b7ad9-3727-44e0-8d88-8b7fa6383d9e.pdf) |
| 2026-08-21 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=43ad64f1-4e75-4116-a373-07ce88d3312f.pdf) |
| 2026-08-14 | [Board Meeting Outcome for Outcome Of Board Meeting - Unaudited Financial Results And Limited Review Report For The Quarter Ended 30.06.2026.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e39deec-dcde-40ba-9975-5b2c5673bb04.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 Apr - Compliance certificate under Regulation 74(5) for quarter ended 31 March 2026. | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Apr - Compliance certificate under Regulation 74(5) for quarter ended 31 March 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/738da48f-14b0-4aca-8d21-7a43278e59ff.pdf) |
| 6 Apr - Promoter disclosed 60.79% stake as of 31 March 2026; no share encumbrance. | [Disclosure Under Regulation 31(4) Of SEBI (Substantial Acquisition Of Shares And Takeovers) Regulations, 2011. 6 Apr - Promoter disclosed 60.79% stake as of 31 March 2026; no share encumbrance.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5c88e75b-9363-4a23-b4a6-3ce1de29aad3.pdf) |
| 31 Mar - Shri Anurag Kapil appointed Director (Finance) of NMDC Steel effective 31-Mar-2026 for five years. | [Announcement under Regulation 30 (LODR)-Change in Directorate 31 Mar - Shri Anurag Kapil appointed Director (Finance) of NMDC Steel effective 31-Mar-2026 for five years.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/8343cd88-6b69-4424-8ac5-d973823244ec.pdf) |
| 31 Mar - Extension of Director (Commercial) additional charge to Vinay Kumar for one year from 07.04.2026. | [Extension Of Additional Charge Of The Post Of Director (Commercial), NMDC Steel Ltd. To Shri Vinay Kumar, Director (Technical). 31 Mar - Extension of Director (Commercial) additional charge to Vinay Kumar for one year from 07.04.2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b6c86201-8798-4ee6-910b-1fc7520f21b7.pdf) |
| 31 Mar - Anurag Kapil appointed Director (Finance)/CFO w.e.f. 31.03.2026; K. Raj Shekhar ceased. | [Announcement under Regulation 30 (LODR)-Change in Management 31 Mar - Anurag Kapil appointed Director (Finance)/CFO w.e.f. 31.03.2026; K. Raj Shekhar ceased.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/528b8f53-de41-489c-a190-ec70a2ffb58f.pdf) |
| 3 Feb - Unaudited Q3/9M FY26 results: Q3 revenue Rs3,007.69cr, Q3 net loss Rs243.97cr; 9M revenue Rs9,762.81cr, loss Rs333.19cr. | [Board Meeting Outcome for Integrated Filing (Financials) For The Quarter And Nine Months Ended 31.12.2025. 3 Feb - Unaudited Q3/9M FY26 results: Q3 revenue Rs3,007.69cr, Q3 net loss Rs243.97cr; 9M revenue Rs9,762.81cr, loss Rs333.19cr.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e90dbb7b-3c01-4287-b5a7-14edd4ce6e7a.pdf) |
| 29 Jan - Board meeting 3 Feb 2026 to approve unaudited results for quarter ended 31 Dec 2025; trading window Jan 1–Feb 5. | [Board Meeting Intimation for Consideration Of Unaudited Financial Results Of The Company For Quarter Ended 31St December 2025 29 Jan - Board meeting 3 Feb 2026 to approve unaudited results for quarter ended 31 Dec 2025; trading window Jan 1–Feb 5.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b1501a3e-a7dc-4920-8e32-9e8de390624a.pdf) |
| 27 Jan - Shri Amitava Mukherjee given additional charge as Director (Finance) NMDC Steel Ltd from 06.12.2025 to 05.03.2026. | [Entrusting Of Additional Charge Of The Post Of Director (Finance), NMDC Steel Ltd. To Shri Amitava Mukherjee, Chairman & Managing Director. 27 Jan - Shri Amitava Mukherjee given additional charge as Director (Finance) NMDC Steel Ltd from 06.12.2025 to 05.03.2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/55fc7199-3cd9-4d9c-a636-30c66b8c4262.pdf) |
| 20 Mar - Krishna Kumar Thakur appointed Director (Personnel) effective 19.03.2026, five-year term. | [Announcement under Regulation 30 (LODR)-Change in Directorate 20 Mar - Krishna Kumar Thakur appointed Director (Personnel) effective 19.03.2026, five-year term.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b050635d-caa4-4ee7-ad0e-8307bb81343a.pdf) |
| 18 Mar - Anurag Kapil appointed Director (Finance) of NMDC and NMDC Steel, effective 18-Mar-2026, five-year term. | [Receipt Of Communication From Ministry Of Steel, Government Of India Regarding Appointment Of Shri Anurag Kapil As Director (Finance) On The Board. 18 Mar - Anurag Kapil appointed Director (Finance) of NMDC and NMDC Steel, effective 18-Mar-2026, five-year term.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d7ad1c5c-c7c4-45b5-b6ce-8cd746e584ca.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-05-29 | [Outcome Of Board Meeting - Audited Financial Results For The Quarter & Financial Year Ended 31St March 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cfb748f5-61a6-4059-94d4-c423d055192f.pdf) |
| 2024-08-13 | [Outcome Of Board Meeting - Unaudited Financial Results And Limited Review Report For The Quarter Ended 30.06.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=78e034b9-b0a7-4a09-933c-760e44b4049a.pdf) |
| 2024-05-27 | [Outcome Of Board Meeting - Audited Financial Results For The Quarter & Financial Year Ended 31St March 2024 And Other Disclosures.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d59f8b9f-69ae-418f-8712-3d829bec997a.pdf) |
| 2023-08-11 | [Board Meeting Outcome for Outcome Of Board Meeting - Approval Of Unaudited Financial Results For The Quarter Ended 30.06.2023 And Other Dislcosures.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1825fee4-9fca-419c-a83a-312ad6f67315.pdf) |
| 2023-05-23 | [Audited Financial Results For The 4Th Quarter And Financial Year Ended 31St March 2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dfe36dd6-5036-4f13-b4c6-cbe75d3aed7c.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a85eb11a-1a10-4810-ba2b-48e2e3c76393.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f0065e8f-6c13-41c7-96b5-38d3df24e970.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/44a71092-badf-4d0e-8823-34ba8b89ef29.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:41:10.478Z.