NMDC Ltd (NMDC) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+0.28%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 13.6%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 23.4%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹69.19

200-Day DMA ● Overlay

₹64.17

14-Day RSI ● Overlay

53 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹65,622 Cr

Small cap

Stock P/E (TTM) Valuation

8.8x

Price / EPS

Book Value (₹) Assets

₹38.7

P/B: 1.9x

ROE (%) Quality

23.4%

Net Profit / Equity

ROCE (%) Efficiency

27.6%

EBIT / Capital

Dividend Yield Yield

4.69%

Face Value: ₹10

Debt / Equity Solvency

0.19x

Manageable

EPS (TTM) Per Share

₹8.48

Trailing 12M

OPM (%) Spread

29.0%

EBITDA Margin

Free Cash Flow Cash

₹1,826 Cr

CFO - Capex

About NMDC Ltd

NMDC Ltd (NMDC) is a leading Indian enterprise operating in the Metals & Mining sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 20.9% × Turnover: 0.85x × Leverage: 1.19x = ROE: 23.4%

✓ Company Strengths (Pros)

• Company has maintained a healthy low debt-to-equity ratio of 0.19.
• Company has a stellar track record of return on equity (ROE of 23.4%).

⚠ Key Considerations & Risks (Cons)

• Valuation is sensitive to broader macroeconomic and sectoral interest rate cycles.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹32,127 Cr

Latest PAT

₹7,459 Cr

EPS (TTM)

₹8.48

OPM %

29.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	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 / Revenue	₹5,395 Cr	₹4,014 Cr	₹5,410 Cr	₹6,489 Cr	₹5,414 Cr	₹4,919 Cr	₹6,568 Cr	₹7,005 Cr	₹6,739 Cr	₹6,378 Cr	₹7,611 Cr	₹11,343 Cr	₹6,795 Cr
Operating Profit (EBITDA)	₹1,994 Cr	₹1,190 Cr	₹2,007 Cr	₹2,102 Cr	₹2,340 Cr	₹1,386 Cr	₹2,372 Cr	₹2,051 Cr	₹2,478 Cr	₹1,993 Cr	₹2,144 Cr	₹2,644 Cr	₹2,468 Cr
OPM %	37.0%	30.0%	37.0%	32.0%	43.0%	28.0%	36.0%	29.0%	37.0%	31.0%	28.0%	23.0%	36.0%
Interest Expense	₹6.00 Cr	₹19.00 Cr	₹32.00 Cr	₹21.00 Cr	₹23.00 Cr	₹29.00 Cr	₹61.00 Cr	₹65.00 Cr	₹27.00 Cr	₹8.00 Cr	₹35.00 Cr	₹51.00 Cr	₹22.00 Cr
Depreciation	₹69.00 Cr	₹89.00 Cr	₹82.00 Cr	₹111.00 Cr	₹74.00 Cr	₹103.00 Cr	₹103.00 Cr	₹141.00 Cr	₹109.00 Cr	₹110.00 Cr	₹107.00 Cr	₹152.00 Cr	₹103.00 Cr
Profit before Tax (PBT)	₹2,212 Cr	₹1,404 Cr	₹1,977 Cr	₹2,359 Cr	₹2,608 Cr	₹1,614 Cr	₹2,584 Cr	₹2,338 Cr	₹2,643 Cr	₹2,259 Cr	₹2,375 Cr	₹2,873 Cr	₹2,691 Cr
Net Profit (PAT)	₹1,653 Cr	₹1,026 Cr	₹1,482 Cr	₹1,410 Cr	₹1,969 Cr	₹1,205 Cr	₹1,880 Cr	₹1,477 Cr	₹1,968 Cr	₹1,698 Cr	₹1,757 Cr	₹2,027 Cr	₹1,976 Cr
EPS in ₹	₹1.88	₹1.17	₹1.69	₹1.61	₹2.24	₹1.38	₹2.14	₹1.68	₹2.24	₹1.93	₹2.00	₹2.31	₹2.25

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹12,356 Cr	₹6,456 Cr	₹8,828 Cr	₹11,615 Cr	₹12,153 Cr	₹11,699 Cr	₹15,370 Cr	₹25,965 Cr	₹17,667 Cr	₹21,308 Cr	₹23,906 Cr	₹32,071 Cr	₹32,127 Cr
Expenses	₹4,591 Cr	₹3,771 Cr	₹5,233 Cr	₹5,812 Cr	₹5,228 Cr	₹5,697 Cr	₹6,580 Cr	₹13,338 Cr	₹11,613 Cr	₹14,014 Cr	₹15,755 Cr	₹22,811 Cr	₹22,878 Cr
Operating Profit	₹7,765 Cr	₹2,685 Cr	₹3,595 Cr	₹5,803 Cr	₹6,925 Cr	₹6,003 Cr	₹8,790 Cr	₹12,626 Cr	₹6,054 Cr	₹7,294 Cr	₹8,150 Cr	₹9,260 Cr	₹9,249 Cr
OPM %	63%	42%	41%	50%	57%	51%	57%	49%	34%	34%	34%	29%	29%
Interest	₹0 Cr	₹66.00 Cr	₹21.00 Cr	₹37.00 Cr	₹40.00 Cr	₹10.00 Cr	₹17.00 Cr	₹39.00 Cr	₹75.00 Cr	₹78.00 Cr	₹178.00 Cr	₹121.00 Cr	₹116.00 Cr
Depreciation	₹173.00 Cr	₹218.00 Cr	₹197.00 Cr	₹257.00 Cr	₹279.00 Cr	₹295.00 Cr	₹229.00 Cr	₹288.00 Cr	₹336.00 Cr	₹351.00 Cr	₹420.00 Cr	₹477.00 Cr	₹472.00 Cr
Profit before Tax	₹9,747 Cr	₹4,084 Cr	₹4,287 Cr	₹6,176 Cr	₹7,194 Cr	₹6,114 Cr	₹8,896 Cr	₹13,016 Cr	₹7,646 Cr	₹7,952 Cr	₹9,143 Cr	₹10,149 Cr	₹10,197 Cr
Net Profit	₹6,351 Cr	₹2,544 Cr	₹2,543 Cr	₹3,808 Cr	₹4,617 Cr	₹3,573 Cr	₹6,276 Cr	₹9,429 Cr	₹5,601 Cr	₹5,567 Cr	₹6,520 Cr	₹7,450 Cr	₹7,459 Cr
EPS in Rs	5.34	2.14	2.68	4.01	5.03	3.89	7.14	10.72	6.37	6.34	7.43	8.47	8.49

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹396.00 Cr	₹396.00 Cr	₹316.00 Cr	₹316.00 Cr	₹306.00 Cr	₹306.00 Cr	₹293.00 Cr	₹293.00 Cr	₹293.00 Cr	₹293.00 Cr	₹879.00 Cr	₹879.00 Cr
Reserves & Surplus	₹31,870 Cr	₹28,784 Cr	₹22,266 Cr	₹24,101 Cr	₹25,738 Cr	₹27,367 Cr	₹29,591 Cr	₹17,725 Cr	₹22,328 Cr	₹25,363 Cr	₹28,817 Cr	₹33,183 Cr
Borrowings (Debt)	₹0 Cr	₹1,497 Cr	₹0 Cr	₹500.00 Cr	₹364.00 Cr	₹566.00 Cr	₹1,994 Cr	₹1,800 Cr	₹2,128 Cr	₹3,359 Cr	₹4,276 Cr	₹6,407 Cr
Total Liabilities	₹34,464 Cr	₹32,756 Cr	₹25,784 Cr	₹28,691 Cr	₹29,891 Cr	₹31,294 Cr	₹36,930 Cr	₹24,912 Cr	₹29,953 Cr	₹35,661 Cr	₹41,007 Cr	₹48,320 Cr
Fixed Assets	₹1,468 Cr	₹2,058 Cr	₹2,095 Cr	₹3,457 Cr	₹3,512 Cr	₹3,810 Cr	₹3,933 Cr	₹3,662 Cr	₹3,199 Cr	₹3,377 Cr	₹5,038 Cr	₹5,856 Cr
Total Assets	₹34,464 Cr	₹32,756 Cr	₹25,784 Cr	₹28,691 Cr	₹29,891 Cr	₹31,294 Cr	₹36,930 Cr	₹24,912 Cr	₹29,953 Cr	₹35,661 Cr	₹41,007 Cr	₹48,320 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹3,999 Cr	₹2,502 Cr	₹2,109 Cr	₹3,376 Cr	₹4,002 Cr	₹2,126 Cr	₹7,266 Cr	₹6,942 Cr	₹1,838 Cr	₹7,394 Cr	₹1,894 Cr	₹4,996 Cr
Cash from Investing (CFI)	-₹517.00 Cr	₹3,645 Cr	₹5,171 Cr	-₹1,865 Cr	-₹789.00 Cr	-₹313.00 Cr	-₹4,316 Cr	-₹3,214 Cr	₹202.00 Cr	-₹6,076 Cr	₹306.00 Cr	-₹3,842 Cr
Cash from Financing (CFF)	-₹3,449 Cr	-₹6,290 Cr	-₹7,249 Cr	-₹1,557 Cr	-₹3,201 Cr	-₹1,753 Cr	-₹2,591 Cr	-₹4,067 Cr	-₹2,067 Cr	-₹1,302 Cr	-₹2,225 Cr	-₹1,092 Cr
Free Cash Flow (FCF)	₹1,185 Cr	-₹1,073 Cr	-₹211.00 Cr	₹1,318 Cr	₹1,996 Cr	-₹278.00 Cr	₹5,644 Cr	₹5,743 Cr	₹590.00 Cr	₹5,547 Cr	-₹1,336 Cr	₹1,826 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	52	45	43	46	43	69	51	42	90	60	118	105
Inventory Days	0	0	0	0	0	0	0	0	0	0	0	170
Cash Conversion Cycle (Days)	52	45	43	46	43	69	51	42	90	60	118	247
ROCE %	32%	14%	16%	25%	28%	23%	30%	50%	29%	31%	30%	28%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹129.51 • Undervalued (Margin of Safety)

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹71.70

DCF Fair Value

₹129.51

Graham Number

₹85.93

Margin of Safety

+53.3%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹129.51

Undervalued (Margin of Safety) (Margin: +53.3%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹126	₹125	₹124	₹123
10%	₹128	₹127	₹126	₹125
12%	₹131	₹130	₹128	₹127
14%	₹133	₹132	₹131	₹129

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹130	Undervalued
Benjamin Graham Number	₹86	Margin of Safety
Historical Sector P/E	₹187	Discounted
EV / EBITDA Multiplier	₹75	In-Line
Free Cash Flow Yield Model	₹70	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 9/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

9 / 9 Pass

Altman Z-Score

6.29 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.19x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 29.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

60.79%

FIIs (Foreign)

13.59%

DIIs (Domestic)

13.80%

Government

0.15%

Public / Retail

11.80%

Swipe → to view historical quarters

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 (Foreign Portfolio)	8.32%	9.91%	12.60%	12.76%	12.60%	12.12%	11.72%	12.21%	13.04%	13.48%	13.60%	13.59%
+ DIIs (Mutual Funds / Insurance)	17.73%	17.33%	14.09%	14.31%	14.08%	14.46%	15.12%	14.48%	14.38%	14.06%	13.76%	13.80%
+ Public (Retail & HNIs)	13.16%	11.96%	12.51%	12.12%	12.52%	12.62%	12.35%	12.51%	11.76%	11.66%	11.84%	11.80%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Metals & Mining.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

NMDC Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

NMDC Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

NMDC Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹91.78

Accelerated market share capture in Metals & Mining, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹80.30

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 9x P/E.

🐻 Bear Case (15%) -12.0%

₹63.10

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Metals & Mining)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:46 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ NMDC Ltd (NMDC)	Target Stock	₹71.70	+0.28%	8.8x	23.4%	27.6%	0.19	₹65,622 Cr
JSW Steel Ltd (JSWSTEEL)	Integrated Steel Producer	₹1,353.30	+0.47%	25.0x	10.2%	11.0%	0.99	₹3.02 Lakh Cr
Coal India Ltd (COALINDIA)	Coal Mining & Power Coal	₹406.30	+1.20%	8.3x	28.2%	35.0%	0.12	₹2.59 Lakh Cr
HINDUSTAN ZINC Ltd (HINDZINC)	Metals & Mining Operations	₹579.00	+0.53%	13.8x	76.6%	69.5%	0.39	₹2.35 Lakh Cr
Tata Steel Ltd (TATASTEEL)	Iron & Steel Manufacturing	₹189.28	+2.40%	18.7x	11.7%	12.5%	0.90	₹2.21 Lakh Cr
Hindalco Industries Ltd (HINDALCO)	Aluminium & Copper Fabrication	₹962.30	+0.24%	10.2x	13.0%	13.2%	0.73	₹2.12 Lakh Cr
Vedanta Ltd (VEDL)	Diversified Natural Resources & Metals	₹263.88	+0.72%	9.0x	38.2%	16.1%	0.66	₹98,561 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:46:46 IST	✓ Live Sync
Financial Statements (10Y)	NMDC Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

NMDC Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About NMDC Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Metals & Mining)

Metric Explainer

Stock DNA Methodology

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