NMDC Steel Limited has appointed Shri Vivek Nishant Nath as Director (Commercial) on its Board for a tenure of five years, effective from July 15, 2026. The appointment strengthens the company's commercial leadership as it continues operations under the Ministry of Steel. Shri Nath brings over three decades of experience in the mining and metals industry, specializing in sales, marketing, and supply chain management.

The Ministry of Steel, Government of India, issued Order No. S-14013/2/2025-BLA on July 14, 2026, communicating the appointment. This decision operates on a co-terminus basis with NMDC Limited, following an earlier order dated March 20, 2023, which stipulated that the CMD, Functional Directors, and Government Directors of NMDC Limited would hold respective positions at NMDC Steel Limited.

Shri Vivek Nishant Nath is a seasoned professional who began his career with NMDC in 1992 and served for nearly fifteen years. Before this appointment, he served as Chief General Manager (Sales & Marketing) at Odisha Mining Corporation Limited (OMC), where he led sales for iron ore, chrome ore, and other minerals. Under his leadership at OMC, iron ore sales increased from 12.33 million tonnes in FY 2020-21 to 38.26 million tonnes in FY 2025-26.

An alumnus of the Indian Institute of Technology (Indian School of Mines), Dhanbad, Shri Nath holds an MBA in International Business from Symbiosis Centre for Management Studies, Pune. He has also completed a Management Development Programme from the Indian Institute of Management (IIM), Indore. He is recognized for authoring research papers and speaking at industry forums.

The disclosure was made to the exchanges in compliance with Regulation 30 of the SEBI (LODR) Regulations, 2015. Aniket Kulshreshtha, Company Secretary, confirmed the development in the filing submitted on July 19, 2026.

NMDC Steel Limited has returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹58.72 crore — a significant turnaround from the net loss of ₹2,373.78 crore recorded in the previous fiscal year. The company's revenue from operations for FY26 surged to ₹13,641.81 crore, compared to ₹8,503.05 crore in FY25, driven by robust operational performance. For the quarter ended March 31, 2026, the company posted a net profit of ₹391.91 crore against a loss of ₹473.39 crore in the same quarter of the previous year, on revenue of ₹3,879 crore versus ₹2,838.25 crore year-on-year.

The Board of Directors approved the audited financial results for the quarter and financial year ended March 31, 2026, at a meeting held on May 29, 2026. The auditors, M/s. Sharad & Associates, issued an unmodified opinion on the standalone financial results. However, the auditors noted that the company does not have the required number of Independent Directors on its Board as per Section 149 of the Companies Act, 2013, and Regulation 17 of the SEBI (LODR) Regulations. Consequently, the composition of the Audit Committee is also not in compliance with Regulation 18.

Financial Performance

The company's total income for FY26 stood at ₹13,727.81 crore, up from ₹8,574.56 crore in the previous year. Total expenses for the year were ₹13,652.03 crore, a decrease from ₹11,896.28 crore in FY25, which included exceptional items. Profit before tax for the year was ₹75.78 crore, a sharp improvement from the loss before tax of ₹3,321.72 crore in the prior year. The basic and diluted earnings per share (EPS) for FY26 was ₹0.20, compared to a loss of ₹8.10 per share in FY25.

Q4 Performance

NMDC Steel delivered a strong quarterly performance, with Q4 net profit rising to ₹391.91 crore against a loss of ₹473.39 crore in the same period of the previous year. The quarterly revenue of ₹3,879 crore compared to ₹2,838.25 crore year-on-year underscores the company's accelerating top-line growth.

Operational and Segment Details

NMDC Steel is engaged in the manufacturing of iron and steel products, which constitutes its only reportable segment. The finance cost for the year reduced to ₹486.64 crore from ₹651.94 crore in the previous year, contributing to the improved bottom line. The company's net worth as of March 31, 2026, stood at ₹13,173.20 crore.

Debt and Compliance

The company disclosed that it had fully repaid its Non-Convertible Debentures (NCDs) amounting to ₹523.80 crore along with accrued interest in August 2025, leaving no outstanding NCD amount as of March 31, 2026. The outstanding Rupee term loan as of the reporting date was ₹3,289.20 crore. The company confirmed there is no default in the repayment of borrowings and interest. The trading window for dealing in the company's securities, which was closed since April 1, 2026, will reopen on May 31, 2026.