NMDC Steel operates a 3 MTPA integrated steel plant in Nagarnar, Chhattisgarh, currently scaling production to establish consistent profitability in the domestic steel market. This quarter’s results will focus on whether volume-led fixed-cost absorption can offset a material two-sided squeeze from rising captive iron ore and seaborne coking coal costs.
| Results date | August 14, 2026 |
|---|---|
| Quarter | Q1 FY 2026-2027 |
| Previous quarter revenue | Rs. 3,879 Cr |
| Previous quarter PAT | Rs. 392 Cr |
| Previous quarter EBITDA margin | 14.34% |
| Market cap | Rs. 13,278.75 Cr |
| CMP | Rs. 45.29 |
The Board of Directors is scheduled to meet on August 14, 2026, to consider the audited financial results for the quarter ended June 30, 2026.
NMDC Steel faces a challenging cost environment this quarter as captive iron ore prices rose by approximately 11-13% following two price hikes by the parent miner in April and May 2026. Simultaneously, seaborne coking coal costs spiked significantly, with India CIF prices reaching approximately $372/MT by June 2026, representing a 24% single-month increase. While finished steel consumption in India grew by 8.3% YoY during the April-June 2026 period, domestic steel prices softened in June, with TMT prices falling by about 4% month-on-month, likely capping the company's ability to pass through these higher input costs. Management's focus remains on scaling the Nagarnar plant toward its 3 MTPA nameplate capacity, which is critical for improving fixed-cost absorption following the company's first full-year net profit in FY26.
Nagarnar plant ramp-up: Operational progress at the 3 MTPA integrated facility remains a primary driver for unit cost efficiency.
Cost pass-through and margin dynamics: The ability to manage sequential margin compression depends on pricing power amidst rising import competition.
Financial leverage: Debt and interest coverage remain central to the sustainability of the company's recent move to net profitability.
NMDC Steel reported a total income of Rs. 3,879 Cr in Q4 FY26. This performance marked a 36.7% YoY increase and contributed to the company achieving its first full-year net profit.
Captive iron ore costs rose by approximately 11-13% due to two price hikes by the parent miner in April and May 2026. These adjustments directly impacted NMDC Steel's raw-material cost, creating a significant headwind for Q1 margins.
The company has produced 1 million tonnes of HRC at the Nagarnar plant in a year, signalling steady ramp-up progress. Trials for the pellet plant and a 15 MTPA slurry pipeline were underway as of the end of the quarter.