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NMDC Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹72.32Fairly Valued by 7.52%vs CMP ₹78.20

P/E (10.0) × ROE (23.6%) × BV (₹36.90) × DY (4.22%)

₹67.86Overvalued by 13.22%vs CMP ₹78.20
MoS: -15.2% (Negative)Confidence: 43/100 (Low)Models: 1 Under, 4 Fair, 4 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹67.9522%Over (-13.1%)
Graham NumberEarnings₹80.7316%Fair (+3.2%)
Earnings PowerEarnings₹50.3713%Over (-35.6%)
DCFCash Flow₹73.2813%Fair (-6.3%)
Net Asset ValueAssets₹36.937%Over (-52.8%)
EV/EBITDAEnterprise₹73.879%Fair (-5.5%)
Earnings YieldEarnings₹78.507%Fair (+0.4%)
ROCE CapitalReturns₹97.149%Under (+24.2%)
Revenue MultipleRevenue₹27.205%Over (-65.2%)
Consensus (9 models)₹67.86100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -6.0%

*Investments are subject to market risks

Analyst Summary

NMDC Ltd operates in the Mining/Minerals segment, NSE: NMDC | BSE: 526371, current market price is ₹78.20, market cap is 68,726 Cr.. At a glance, stock P/E is 9.96, ROE is 23.6 %, ROCE is 29.6 %, book value is 36.9, dividend yield is 4.22 %. The latest intrinsic value estimate is ₹67.86, around 13.2% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹23,906 Cr versus the prior period change of 12.2%, while latest net profit is about ₹6,520 Cr with a prior-period change of 17.1%. The 52-week range shown on this page is 86.8/59.5, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisNMDC Ltd. is a Public Limited Listed company incorporated on 15/11/1958 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L13100TG1958GO…

This summary is generated from the stock page data available for NMDC Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

67
NMDC Ltd scores 67/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health92/100 · Strong
ROCE 29.6% ExcellentROE 23.6% ExcellentD/E 0.06 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.76% (6mo) AccumulatingDII holding down 1.06% MF sellingPromoter holding at 60.8% Stable
Earnings Quality40/100 · Moderate
OPM contracting (42% → 34%) Declining
Quarterly Momentum58/100 · Moderate
Revenue (4Q): +19% YoY GrowingProfit (4Q): +7% YoY PositiveOPM: 28.0% (down 8.0% YoY) Margin pressure
Industry Rank80/100 · Strong
P/E 10.0 vs industry 15.4 Cheaper than peersROCE 29.6% vs industry 19.6% Above peersROE 23.6% vs industry 16.9% Above peers3Y sales CAGR: -3% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:25 am

Market Cap 68,726 Cr.
Current Price 78.2
Intrinsic Value₹67.86
High / Low 86.8/59.5
Stock P/E9.96
Book Value 36.9
Dividend Yield4.22 %
ROCE29.6 %
ROE23.6 %
Face Value 1.00
PEG Ratio-1.65

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for NMDC Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NMDC Ltd 68,726 Cr. 78.2 86.8/59.59.96 36.94.22 %29.6 %23.6 % 1.00
Gujarat Mineral Development Corporation Ltd 18,454 Cr. 580 651/25128.8 2111.74 %14.1 %10.9 % 2.00
Redington Ltd 15,827 Cr. 202 335/17711.3 1153.36 %18.9 %14.4 % 2.00
Gravita India Ltd 9,730 Cr. 1,318 2,170/1,29125.5 3060.48 %21.5 %21.2 % 2.00
MOIL Ltd 5,996 Cr. 295 406/24220.6 1331.91 %18.8 %14.7 % 10.0
Industry Average51,564.31 Cr471.3415.4197.991.59%19.57%16.87%5.18

All Competitor Stocks of NMDC Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,7205,8515,3954,0145,4106,4895,4144,9196,5687,0056,7396,3787,611
Expenses 2,5793,6893,4012,8243,4034,3883,0743,5334,1964,9534,2604,3855,467
Operating Profit 1,1412,1621,9941,1902,0072,1022,3401,3862,3722,0512,4781,9932,144
OPM % 31%37%37%30%37%32%43%28%36%29%37%31%28%
Other Income 2051,22829432184389365361375492300383372
Interest 301261932212329616527835
Depreciation 849369898211174103103141109110107
Profit before tax 1,2323,2852,2121,4041,9772,3592,6081,6142,5842,3382,6432,2592,375
Tax % 27%31%25%27%26%40%25%26%27%37%26%26%26%
Net Profit 9142,2721,6531,0261,4821,4101,9691,2051,8801,4771,9681,6981,757
EPS in Rs 1.042.581.881.171.691.612.241.382.141.682.241.932.00

Last Updated: February 4, 2026, 7:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 5:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 12,05812,3566,4568,82811,61512,15311,69915,37025,96517,66721,30823,90627,732
Expenses 4,3354,5913,7715,2335,8125,2285,6976,58013,33811,61314,01415,75519,065
Operating Profit 7,7237,7652,6853,5955,8036,9256,0038,79012,6266,0547,2948,1508,667
OPM % 64%63%42%41%50%57%51%57%49%34%34%34%31%
Other Income 2,1822,1551,6829106675884163517162,0041,0871,5911,548
Interest 20662137401017397578178135
Depreciation 151173218197257279295229288336351420466
Profit before tax 9,7539,7474,0844,2876,1767,1946,1148,89613,0167,6467,9529,1439,614
Tax % 34%34%34%40%38%36%41%30%27%28%30%28%
Net Profit 6,3716,3512,5442,5433,8084,6173,5736,2779,4295,6015,5676,5206,900
EPS in Rs 5.365.342.142.684.015.033.897.1410.726.376.347.437.85
Dividend Payout % 53%53%171%64%36%37%45%36%46%35%38%44%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-0.31%-59.94%-0.04%49.74%21.24%-22.61%75.68%50.22%-40.60%-0.61%17.12%
Change in YoY Net Profit Growth (%)0.00%-59.63%59.90%49.78%-28.50%-43.86%98.29%-25.46%-90.81%39.99%17.73%

NMDC Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:15%
3 Years:-3%
TTM:18%
Compounded Profit Growth
10 Years:0%
5 Years:13%
3 Years:-11%
TTM:7%
Stock Price CAGR
10 Years:12%
5 Years:25%
3 Years:33%
1 Year:4%
Return on Equity
10 Years:19%
5 Years:26%
3 Years:24%
Last Year:24%

Last Updated: September 5, 2025, 11:45 am

Balance Sheet

Last Updated: December 4, 2025, 1:44 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 396396396316316306306293293293293879879
Reserves 29,55031,87028,78422,26624,10125,73827,36729,59117,72522,32825,36328,81731,578
Borrowings 001,49705003645662,0001,8004233,3594,2763,640
Other Liabilities 1,4972,1972,0793,2013,7743,4833,0565,0455,0945,2046,6467,0356,380
Total Liabilities 31,44434,46432,75625,78428,69129,89131,29436,93024,91228,24835,66141,00742,477
Fixed Assets 1,3661,4682,0582,0953,4573,5123,8103,9333,6623,1993,3775,0385,074
CWIP 5,2977,8019,74711,85512,54513,81915,53017,1581,3331,9983,2354,7375,309
Investments 2193195926126738599108758959359569781,203
Other Assets 24,56124,87620,35911,22112,01611,70111,04514,96419,02222,11628,09430,25330,890
Total Assets 31,44434,46432,75625,78428,69129,89131,29436,93024,91228,24835,66141,00742,477

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,7343,9992,5022,1093,3764,0022,1267,2666,9421,8387,3941,894
Cash from Investing Activity + 3,444-5173,6455,171-1,865-789-313-4,316-3,214202-6,076306
Cash from Financing Activity + -5,801-3,449-6,290-7,249-1,557-3,201-1,753-2,591-4,067-2,067-1,302-2,225
Net Cash Flow 1,37633-14431-461160359-339-2816-25
Free Cash Flow 1,4371,185-1,073-2111,3181,996-2785,6445,7435905,547-1,336
CFO/OP 95%91%157%102%99%95%73%111%89%65%126%54%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow7.007.001.003.00-495.00-358.00-560.006.0011.00-417.004.004.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 4452454346436951429060118
Inventory Days
Days Payable
Cash Conversion Cycle 4452454346436951429060118
Working Capital Days 11610173-4953-163094955
ROCE %34%32%14%16%25%28%23%30%50%29%31%30%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
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 7.33%6.99%8.32%9.91%12.60%12.76%12.60%12.12%11.72%12.21%13.04%13.48%
DIIs 19.39%18.00%17.73%17.33%14.09%14.31%14.08%14.46%15.12%14.48%14.38%14.06%
Public 12.47%14.20%13.16%11.96%12.51%12.12%12.52%12.62%12.35%12.51%11.76%11.66%
No. of Shareholders 7,13,8327,37,7337,39,3957,49,3308,57,0038,93,8979,68,55210,49,95911,20,68111,42,93811,20,44411,15,697

Shareholding Pattern Chart

No. of Shareholders

NMDC Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Multicap Fund 29,818,719 1.05 242.1663,380,0662026-02-23 00:14:19-52.95%
SBI Contra Fund 28,539,000 0.48 231.7713,700,1132025-12-08 00:44:50108.31%
Edelweiss Mid Cap Fund 28,010,035 1.65 227.4727,327,3632026-02-23 00:14:192.5%
SBI PSU Fund 27,900,000 3.79 226.582,050,0002025-12-08 00:00:321260.98%
Aditya Birla Sun Life PSU Equity Fund 23,164,816 3.29 188.12N/AN/AN/A
Nippon India Growth Mid Cap Fund 22,526,073 0.44 182.93N/AN/AN/A
Aditya Birla Sun Life Midcap Fund 14,635,227 1.97 118.8515,827,3652026-01-26 07:43:56-7.53%
Tata Arbitrage Fund 13,081,500 0.52 106.2312,163,5002026-01-26 07:43:567.55%
Tata Value Fund 10,800,000 0.99 87.7110,000,0002026-02-23 00:14:198%
UTI Arbitrage Fund 9,429,750 0.7 76.588,235,0002026-01-26 07:43:5614.51%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 7.4419.0219.1132.0020.70
Diluted EPS (Rs.) 7.4419.0219.1132.0020.70
Cash EPS (Rs.) 7.9220.2120.0433.0322.10
Book Value[Excl.RevalReserv]/Share (Rs.) 33.7887.5477.19119.43102.02
Book Value[Incl.RevalReserv]/Share (Rs.) 33.7887.5477.19119.43102.02
Revenue From Operations / Share (Rs.) 27.1972.7160.2888.3152.45
PBDIT / Share (Rs.) 11.0829.5623.2745.3931.19
PBIT / Share (Rs.) 10.6028.3722.1344.4030.41
PBT / Share (Rs.) 10.4027.1426.0944.2730.35
Net Profit / Share (Rs.) 7.4419.0118.9032.0421.32
NP After MI And SOA / Share (Rs.) 7.4419.0219.1132.0021.42
PBDIT Margin (%) 40.7540.6538.6051.3959.47
PBIT Margin (%) 38.9939.0136.7050.2757.98
PBT Margin (%) 38.2537.3243.2850.1257.87
Net Profit Margin (%) 27.3526.1431.3436.2840.64
NP After MI And SOA Margin (%) 27.3626.1631.7036.2440.83
Return on Networth / Equity (%) 22.0321.7324.7626.8021.00
Return on Capital Employeed (%) 29.7430.4926.9634.3228.38
Return On Assets (%) 15.9515.6319.8220.9116.99
Long Term Debt / Equity (X) 0.000.000.000.040.01
Total Debt / Equity (X) 0.120.130.010.090.06
Asset Turnover Ratio (%) 0.620.660.480.630.45
Current Ratio (X) 2.422.563.762.281.91
Quick Ratio (X) 2.152.233.131.971.75
Inventory Turnover Ratio (X) 8.850.310.310.400.49
Dividend Payout Ratio (NP) (%) 37.6245.2019.6146.0536.22
Dividend Payout Ratio (CP) (%) 35.3542.5318.5044.6834.95
Earning Retention Ratio (%) 62.3854.8080.3953.9563.78
Cash Earning Retention Ratio (%) 64.6557.4781.5055.3265.05
Interest Coverage Ratio (X) 54.83110.7390.67340.53543.78
Interest Coverage Ratio (Post Tax) (X) 37.8175.8358.17241.45372.63
Enterprise Value (Cr.) 54251.2350122.1226039.0743142.3935783.91
EV / Net Operating Revenue (X) 2.272.351.471.672.33
EV / EBITDA (X) 5.575.793.823.243.91
MarketCap / Net Operating Revenue (X) 2.532.771.851.842.58
Retention Ratios (%) 62.3754.7980.3853.9463.77
Price / BV (X) 2.042.301.451.361.33
Price / Net Operating Revenue (X) 2.532.771.851.842.58
EarningsYield 0.100.090.170.190.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

NMDC Ltd. is a Public Limited Listed company incorporated on 15/11/1958 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L13100TG1958GOI001674 and registration number is 001674. Currently Company is involved in the business activities of Mining of iron ores, Mining of gemstones (agate, diamond, emerald, garnet (gem), jasper, rubby/ saphire etc., Manufacture of direct reduction of iron (sponge iron) and other spongy ferrous products, Manufacture of pig iron and spiegeleisen in pigs, blocks or other primary forms, Electric power generation using other non conventional sources. Company's Total Operating Revenue is Rs. 23668.32 Cr. and Equity Capital is Rs. 879.18 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Mining/MineralsKhanij Bhavan, 10-3-311/A, Hyderabad Telangana 500028Contact not found
Management
NamePosition Held
Mr. Amitava MukherjeeChairman & Managing Director
Mr. Vishwanath SureshDirector - Commercial
Mr. Vinay KumarDirector - Technical
Mr. Joydeep DasguptaDirector - Production
Ms. Priyadarshini GaddamDirector
Mr. Sanjay TandonIndependent Director
Mr. Bharat Baburao PatilIndependent Director
Mr. Mahendra Singh RaoIndependent Director
Mr. Achal Kumar SinhaIndependent Director
Mr. Ashish ChatterjeeGovernment Nominee Director
Mr. Abhijit NarendraGovernment Nominee Director

FAQ

What is the intrinsic value of NMDC Ltd and is it undervalued?

As of 22 April 2026, NMDC Ltd's intrinsic value is ₹67.86, which is 13.22% lower than the current market price of ₹78.20, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (23.6 %), book value (₹36.9), dividend yield (4.22 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of NMDC Ltd?

NMDC Ltd is trading at ₹78.20 as of 22 April 2026, with a FY2026-2027 high of ₹86.8 and low of ₹59.5. The stock is currently in the middle of its 52-week range. Market cap stands at ₹68,726 Cr..

How does NMDC Ltd's P/E ratio compare to its industry?

NMDC Ltd has a P/E ratio of 9.96, which is below the industry average of 15.41. This is broadly in line with or below the industry average.

Is NMDC Ltd financially healthy?

Key indicators for NMDC Ltd: ROCE of 29.6 % indicates efficient capital utilization; ROE of 23.6 % shows strong shareholder returns. Dividend yield is 4.22 %.

Is NMDC Ltd profitable and how is the profit trend?

NMDC Ltd reported a net profit of ₹6,520 Cr in Mar 2025 on revenue of ₹23,906 Cr. Compared to ₹9,429 Cr in Mar 2022, the net profit shows a declining trend.

Does NMDC Ltd pay dividends?

NMDC Ltd has a dividend yield of 4.22 % at the current price of ₹78.20. This is a relatively attractive yield for income-seeking investors.

Last Updated: April 2, 2026, 3:25 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 526371 | NSE: NMDC
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in NMDC Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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