newmalayalam steel reported a 60.5% increase in net profit to ₹707.75 lakh for the financial year ended March 31, 2026, compared to ₹440.98 lakh in the previous year. Revenue from operations for the year grew 5.2% to ₹31,993.01 lakh from ₹30,416.43 lakh in FY25. The company’s board approved the audited standalone and consolidated financial results at a meeting held on May 27, 2026.

The company’s basic and diluted earnings per share (EPS) for the year stood at ₹4.09, up from ₹3.19 in the corresponding period last year. For the half-year ended March 31, 2026, net profit was ₹286.08 lakh, while revenue from operations was ₹15,768.82 lakh. The statutory auditor, Kumar & Biju Associates LLP, issued an unmodified opinion on the financial results.

Financial Performance

The total income for FY26 increased to ₹32,256.28 lakh from ₹30,581.48 lakh in the previous year. Total expenses rose to ₹31,287.33 lakh from ₹29,979.84 lakh. The company’s profit before tax for the year was ₹968.95 lakh, compared to ₹601.64 lakh in FY25. The finance cost for the year decreased to ₹261.49 lakh from ₹342.98 lakh in the prior year.

Consolidated Results

On a consolidated basis, the company reported a net profit of ₹703.49 lakh for the year ended March 31, 2026. Revenue from operations for the consolidated entity was ₹31,993.01 lakh. The company acquired a 60% stake in Prime NMS Private Limited on November 7, 2025, which became a subsidiary. Consequently, comparative consolidated figures for the previous year are not available.

Fund Utilization

The company had raised ₹4,176.00 lakh through an initial public offering (IPO) which listed on the NSE Emerge platform on December 27, 2024. As of March 31, 2026, the company had utilized ₹4,127.52 lakh of the net proceeds. The unutilized amount stood at ₹48.48 lakh. Funds were utilized for purposes including working capital, general corporate purposes, advertising, and civil construction.

NMDC Steel has delivered an exceptional third-quarter performance, showcasing significant revenue growth alongside substantial improvement in loss reduction and a remarkable EBITDA turnaround compared to the same period last year. The steel manufacturer's latest quarterly results indicate robust operational recovery with strong improvements across all key financial metrics.

Financial Performance Overview

The company's Q3 financial metrics demonstrate impressive improvement across key parameters:

EBITDA Turnaround Achievement

The most significant highlight of the quarter was NMDC Steel's remarkable EBITDA turnaround, achieving a positive EBITDA of ₹975 million compared to a substantial loss of ₹6.56 billion in the corresponding quarter of the previous year. This represents a complete operational transformation, with the company achieving an EBITDA margin of 3.24%, marking its entry into positive territory from deeply negative margins in the previous year.

Revenue Growth and Loss Reduction

NMDC Steel achieved remarkable revenue growth of 41.51%, with quarterly revenue increasing to ₹30.00 billion from ₹21.20 billion in the corresponding quarter of the previous year. Simultaneously, the company achieved a significant 68.42% reduction in net losses, narrowing from ₹7.60 billion to ₹2.40 billion year-on-year. This dual achievement reflects improved market demand, enhanced operational capacity, and effective business execution strategies.

Operational Excellence and Market Position

The combined performance of strong revenue growth, substantial loss reduction, and positive EBITDA generation positions NMDC Steel favorably within the steel industry landscape. The company's ability to expand its revenue base while simultaneously improving its profitability metrics and achieving positive operational cash generation indicates robust operational leverage and enhanced business efficiency, setting a strong foundation for sustained performance improvement.