NMDC (526371) Q3 25/26 earnings summary

Executive summary

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and published, with statutory auditor review and no material misstatements identified.

• Board declared a first interim dividend of ₹2.50 per equity share for FY 2025-26.

• Approval granted for incorporation of a wholly-owned subsidiary for critical minerals activities, pending regulatory approvals.

Financial highlights

• Standalone revenue from operations for Q3 FY26 was ₹7,485.55 crore, up from ₹6,530.82 crore in Q3 FY25; nine-month revenue was ₹20,380.56 crore versus ₹16,715.19 crore year-over-year.

• Standalone net profit for Q3 FY26 was ₹1,738.07 crore, compared to ₹1,943.51 crore in Q3 FY25; nine-month net profit was ₹5,401.11 crore versus ₹5,196.44 crore year-over-year.

• Consolidated revenue from operations for Q3 FY26 was ₹7,610.79 crore, up from ₹6,567.83 crore in Q3 FY25; nine-month consolidated revenue was ₹20,727.76 crore versus ₹16,900.93 crore year-over-year.

• Consolidated net profit for Q3 FY26 was ₹1,756.59 crore, compared to ₹1,881.96 crore in Q3 FY25; nine-month consolidated net profit was ₹5,423.19 crore versus ₹5,064.30 crore year-over-year.

• EPS (standalone) for Q3 FY26 was ₹1.98; for nine months, ₹6.14.

• EPS (consolidated) for Q3 FY26 was ₹2.00; for nine months, ₹6.17.

Outlook and guidance

• Management remains confident in the recoverability of large outstanding receivables from NMDC Steel Limited and Rashtriya Ispat Nigam Limited, supported by government revival plans and operational improvements.

• Ongoing evaluation of business models for the Karnataka Vijayanagar Steel Limited project, with final decisions pending.