NMDC Steel Limited has announced a key leadership appointment following directives from the Ministry of Steel, Government of India. The company has informed stock exchanges about the appointment of Shri Anurag Kapil as Director (Finance) on its Board of Directors.

Appointment Details

The Ministry of Steel issued Order No. 14013/1/2024-BLA dated March 18, 2026, communicating the appointment of Shri Anurag Kapil to the position of Director (Finance) on the Board of NMDC Limited. The appointment comes with specific terms and conditions outlined by the government.

Governance Framework

The appointment operates under an established governance structure linking NMDC Limited and NMDC Steel Limited. According to an earlier Ministry of Steel order dated March 20, 2023, the CMD, Functional Directors and Government Directors of NMDC Limited also serve in corresponding roles at NMDC Steel Limited on co-terminus basis.

This framework ensures unified leadership across both entities until further communication from the Ministry of Steel. Consequently, Shri Anurag Kapil will simultaneously serve as Director (Finance) on the Board of NMDC Steel Limited, subject to his assumption of charge as per the March 18, 2026 order.

Professional Background

Shri Anurag Kapil brings extensive experience from the Indian Railway Accounts Service (IRAS) and currently serves as Executive Director (Finance) – Expenditure at the Railway Board. His appointment reflects the government's strategy of leveraging experienced financial professionals across its enterprise portfolio.

Regulatory Compliance

The company has communicated this appointment to all relevant stock exchanges in compliance with Regulation 30 of SEBI (LODR) Regulations, 2015. The notification was sent to BSE Limited, National Stock Exchange of India Limited, and Calcutta Stock Exchange Limited on March 18, 2026.

The appointment strengthens NMDC Steel Limited's leadership team as the company continues its operations at the Nagarnar facility in Bastar district, Chhattisgarh. Company Secretary Aniket Kulshreshtha signed the regulatory filing announcing this significant board appointment.

NMDC Steel Limited has announced its unaudited financial results for the quarter and nine months ended December 31, 2025, revealing operational challenges despite revenue improvements. The board meeting held on February 3, 2026, approved the quarterly results under Regulation 33 of SEBI (LODR) Regulations, 2015.

Q3FY26 Financial Performance

The company reported mixed results for the third quarter, with revenue growth offset by operational losses. The financial performance reflects ongoing challenges in the steel manufacturing sector.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, NMDC Steel demonstrated significant operational improvements compared to the corresponding period last year.

Key Financial Highlights

The company's financial position shows several notable developments during the reporting period. NMDC Steel maintained its equity base while managing debt obligations effectively.

Debt Management and Interest Rate Developments

The company successfully repaid its Non-convertible debentures worth ₹523.80 crore along with accrued interest of ₹42.98 crore on the due date of August 28, 2025. For its Rupee Term Loan of ₹4,475.81 crore from State Bank of India, the interest rate was revised to 8.45% per annum effective from October 12, 2025, based on 3-month MCLR. The outstanding Rupee term loan stands at ₹3,401.14 crore after repayment of ₹1,074.67 crore.

Regulatory Compliance and Auditor Review

The financial results were reviewed and approved by the board of directors in their meeting held on February 3, 2026. Statutory auditors Sharad & Associates conducted a limited review of the results as required under SEBI regulations. The board meeting commenced at 14:00 hours and concluded at 14:35 hours, with all regulatory disclosures made in compliance with listing obligations.