NMDC Limited held its 68th Annual General Meeting on September 28, 2026, via video conferencing, passing all 9 resolutions with strong shareholder support. A total of 11,56,229 shareholders were on record as of the cut-off date, September 21, 2026.

The meeting commenced at 11:30 am IST and concluded at 1:35 pm IST. Seventy-five members participated through the virtual platform, while voting was conducted electronically via NSDL systems. Remote e-voting was open from September 24, 2026 (9:00 am IST) to September 27, 2026 (5:00 pm IST). The scrutinizer for the e-voting process was CS Shaik Razia, Partner, D. Hanumanta Raju & Co., appointed by the Board on August 14, 2026, with the scrutinizer's report issued on September 29, 2026.

Key resolutions and board updates

Shareholders passed all ordinary and special business resolutions. The Board was also authorised to fix remuneration for statutory auditors for FY27. New appointments included Shri Krishna Kumar Thakur as Director (Personnel), Shri Anurag Kapil as Director (Finance), and Shri Vivek Nishant Nath as Director (Commercial). The AGM notice was dated August 14, 2026, and was dispatched to shareholders electronically in compliance with MCA General Circular No. 03/2025 dated September 22, 2025 and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD-2/I/3762/2026 dated January 30, 2026.

Dividend voting detail

The dividend resolution noted the interim dividend of ₹2.50 per equity share of face value ₹1.00 already paid and approved the final dividend of ₹1.00 per equity share of face value ₹1.00 for FY26. This resolution received the highest shareholder support among all nine, with 2,632 members voting in favour, casting 7,346,041,094 votes representing 99.9978% of valid votes polled. Only 48 members voted against, casting 161,528 votes (0.0022%).

Director re-appointment voting

The re-appointment of Shri Abhijit Narendra saw the closest contest among all resolutions, with public institutional investors split nearly evenly: 50.18% voted in favour and 49.82% against among that category. Overall, 86.45% of valid votes were cast in favour. The re-appointment of Shri Joydeep Dasgupta received broader support, with 89.30% of valid votes in favour overall, though public institutional investors recorded 39.34% against.

Audit reports and compliance

M/s Varma & Varma, Statutory Auditors, submitted an unmodified audit report for FY26 with no qualifications or adverse remarks. The Comptroller and Auditor General of India provided comments on the financial statements, annexed to the Board's Report. The Secretarial Audit report by M/s D. Hanumanta Raju & Co. noted observations regarding board composition, specifically an inadequate number of Independent Directors and the absence of a Woman Independent Director on the Board at the time of the audit.

Shareholder engagement

During the question-and-answer session, shareholders appreciated the company's financial and operational performance. Queries focused on future growth plans, environmental clearances, expansion in the pellet business, and the recently incorporated GIFT City subsidiary. CMD Amitava Mukherjee and functional directors addressed these concerns, highlighting key performance benchmarks and the company's Net Zero Strategy. The meeting was chaired by Amitava Mukherjee, Chairman and Managing Director. Other directors present included Vinay Kumar, Joydeep Dasgupta, Krishna Kumar Thakur, Anurag Kapil, Vivek Nishant Nath, Bharat Baburao Patil, Mahendra Singh Rao, and Achal Kumar Sinha.

NMDC Limited has commissioned its ₹5,427 crore integrated iron ore project in Bastar, Chhattisgarh. The initiative includes a new iron ore processing plant at Bacheli, a 15 MTPA slurry pipeline, and a 2 MTPA pellet plant at Nagarnar.

The project establishes a dedicated link between NMDC’s mining operations at Bacheli and its steel plant at Nagarnar. The 135 km slurry pipeline transports processed iron ore concentrate from Bacheli to Nagarnar, offering an alternative to road transportation and reducing dependency on railways.

Project components and capacity

The integrated facility is designed to process iron ore fines and slimes from the Bailadila mines into concentrate, which is then converted into pellets for steelmaking. The pellet plant utilizes Straight Grate Induration technology. The maiden production was monitored remotely by Chairman and Managing Director Amitava Mukherjee due to adverse weather conditions at the site.

Strategic impact on value chain

This commissioning strengthens NMDC’s presence across the entire iron ore value chain, from mining and beneficiation to slurry transportation and pellet production. It introduces a new value-added product to the company’s portfolio and enables greater utilization of iron ore fines and slimes generated from its Bailadila operations.

The pipeline passes through 61 villages in the Bastar and Dantewada districts. By providing an alternate mode of evacuation, the infrastructure aims to lower logistical costs and ensure a consistent supply link between the mine and the steel plant.

What the numbers show

The ₹5,427 crore investment aligns with NMDC’s broader expansion strategy to increase its iron ore production capacity to 100 million tonnes in the long term. The integration of the 15 MTPA pipeline with the 2 MTPA pellet plant indicates a strategic shift towards higher-value downstream products rather than raw ore sales alone.

Executive commentary

"Today is a day of immense pride for everyone at NMDC. This has not been an easy project to execute. It involved the processing facilities, the actual slurry pipeline and the pellet plant," said Amitava Mukherjee, Chairman and Managing Director, NMDC Limited. He described the commissioning as a "red-letter day" marking the realization of a long-held collective dream.