The Orissa Minerals Development Company Limited announced its unaudited standalone financial results for the quarter ended December 31, 2025, showcasing a remarkable financial turnaround. The Government of India enterprise reported strong profitability after overcoming previous year's challenges, with iron ore operations driving the recovery.

Board Meeting Outcome

The Board of Directors approved the unaudited standalone financial results in their 90th meeting held on February 11, 2026. The meeting commenced at 4:30 PM and concluded at 8:15 PM, with results announced pursuant to Regulation 33 of the SEBI Listing Regulations.

Financial Performance Overview

The company delivered impressive results across key financial metrics during Q3 FY26:

The company achieved net profit of ₹434.41 lakh in Q3 FY26, marking a significant turnaround from the loss of ₹749.33 lakh reported in the corresponding quarter of the previous year. This represents a complete reversal of fortunes, demonstrating the company's operational efficiency improvements.

Nine-Month Performance Analysis

For the period ended December 31, 2025, the company's performance showed substantial improvement:

The nine-month results reflect strong operational performance with revenue growth of 12.45% and effective cost management leading to a 9.88% reduction in total expenses.

Segment-wise Business Performance

The company's business segments showed varied performance during the quarter:

Iron ore operations generated the entire operational revenue of ₹2,060.57 lakh with segment profit before finance costs reaching ₹1,019.21 lakh. Manganese Ore and Sponge Iron segments remained non-operational during the quarter.

Operational Highlights

The company's mining operations continue to face challenges with renewal processes for certain mines. The Bagiaburu Iron Mines, which started operations from December 14, 2023, remains the primary operational asset. The company is actively pursuing renewal of mining leases for Bellkundi and Bhadrasi Mines.

Key operational metrics include employee benefits expenses of ₹419.72 lakh, finance costs of ₹473.28 lakh, and depreciation expenses of ₹28.11 lakh for Q3 FY26.

Financial Position and Outlook

The company maintains a paid-up equity share capital of ₹60.00 lakh with face value of Re. 1 per share. Total assets stood at ₹50,796.59 lakh as of December 31, 2025, compared to ₹34,691.55 lakh in the previous year, indicating substantial asset base expansion.

The financial results have undergone limited review by statutory auditors SDR & Associates, Chartered Accountants, as required under SEBI Listing Regulations. The auditors noted the company's going concern basis preparation and ongoing efforts for mining lease renewals.

Orissa Minerals Development Company has delivered outstanding financial performance for Q2 FY26, demonstrating exceptional improvement in profitability and steady revenue growth. The mining company's results reflect robust operational execution and effective business management during the quarter.

Financial Performance Highlights

The company's financial metrics for Q2 show impressive year-on-year growth across key parameters:

Exceptional Profitability Growth

The most remarkable achievement in Q2 was the company's extraordinary profit performance. Net profit reached ₹314.11 million, representing a substantial increase of 296.8% compared to ₹79.16 million recorded in the same quarter of the previous year. This dramatic improvement in profitability indicates enhanced operational efficiency and superior cost management practices.

Revenue Performance and Business Segments

The company maintained strong revenue momentum during Q2, with total revenue from operations climbing to ₹2,512.75 million from ₹2,339.34 million in the corresponding quarter last year. The 7.4% year-on-year revenue growth demonstrates the company's ability to expand its business operations and capture market opportunities in the mining sector.

Regulatory Compliance and Transparency

The company has maintained full regulatory compliance by publishing its unaudited financial results for the quarter ended September 30, 2025, in both English and regional newspapers as required under Regulation 47 of SEBI regulations. The Board of Directors approved these results on December 19, 2025, demonstrating the company's commitment to transparency and timely disclosure.

Operational Developments

The company's mining operations continue to evolve with the Baglaburu Iron Mines operational since December 2023. The company is actively pursuing renewal of mining leases for its remaining two mines - Belkundi and Bhadrassai Mines. Despite operational challenges, the company maintains its focus on iron ore mining as its primary business segment.

Business Outlook

With this exceptional Q2 performance, Orissa Minerals Development Company has demonstrated its ability to generate significant value for shareholders. The combination of strong profit growth and consistent revenue expansion positions the company favorably within the mining and mineral products sector for sustained growth.