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.

NMDC Steel Limited has announced a key leadership change, assigning additional charge of the Director (Finance) position to its current Chairman & Managing Director, Shri Amitava Mukherjee. The appointment comes as an interim measure to ensure continuity in the company's financial leadership.

Leadership Assignment Details

The assignment has been made through official orders from the Ministry of Steel, Government of India, demonstrating the government's direct involvement in the company's leadership structure as a state enterprise.

Regulatory Framework

The appointment has been formalized under Regulation 30 of SEBI (LODR) Regulations, 2015, which mandates disclosure of material events and information. The company has duly informed all major stock exchanges where its shares are listed.

Stock Exchange Notifications

NMDC Steel Limited has communicated this development to three stock exchanges:

• BSE Limited: Scrip Code 543768
• National Stock Exchange of India Limited: Security ID NSLNISP
• Calcutta Stock Exchange Limited: Scrip ID 74920

Government Orders and Authority

The assignment is backed by specific government orders that provide the legal framework for this interim arrangement. The Ministry of Steel issued Order No. S-14013/1/2024-BLA-Part(1) dated January 27, 2026, which references an earlier Order No. 4(3)/2022-NMDC dated March 20, 2023.

The appointment will remain effective until the earliest of three conditions: completion of the 3-month period, assumption of charge by a regular incumbent, or issuance of further orders from the government.

Company Background

NMDC Steel Limited operates as a Government of India enterprise with its registered office located at NMDC Iron & Steel Plant, Post: Nagarnar, District: Bastar, Chhattisgarh. The company holds Corporate Identity Number L27310CT2015GOI001618, reflecting its incorporation in 2015.