NMDC Steel (NSLNISP) Q2 25/26 earnings summary

Executive summary

• Revenue from operations for Q2 FY26 was ₹3,389.90 crore, up 122% year-over-year, with total income at ₹3,411.03 crore.

• Net loss for the quarter was ₹114.78 crore, compared to a net profit of ₹25.56 crore in the previous quarter and a net loss of ₹595.37 crore in Q2 FY25.

• The Board approved the unaudited results on 29th October 2025, with a limited review by statutory auditors confirming no material misstatements.

Financial highlights

• EBITDA margin for the quarter was 6.74%, down from 12.71% in the previous quarter.

• Net profit margin stood at -3.39% for Q2 FY26, compared to 0.76% in Q1 FY26.

• EPS for the quarter was ₹(0.39), compared to ₹0.09 in the previous quarter.

• Total expenses increased to ₹3,593.68 crore, up from ₹2,364.39 crore in Q2 FY25.

Outlook and guidance

• Strategic disinvestment process is ongoing, with the government planning to divest 50.79% stake and offer an additional 10% to NMDC Ltd after a strategic buyer is identified.