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NMDC - Fundamental Analysis: Financial Health & Valuation

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Rating: 4

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 4.0

Stock Code NMDC Market Cap 69,913 Cr. Current Price 79.5 ₹ High / Low 86.8 ₹
Stock P/E 10.1 Book Value 36.8 ₹ Dividend Yield 4.15 % ROCE 30.3 %
ROE 24.4 % Face Value 1.00 ₹ DMA 50 80.2 ₹ DMA 200 76.6 ₹
Chg in FII Hold 0.44 % Chg in DII Hold -0.32 % PAT Qtr 1,738 Cr. PAT Prev Qtr 1,695 Cr.
RSI 48.2 MACD -0.61 Volume 1,63,65,478 Avg Vol 1Wk 2,03,20,024
Low price 59.5 ₹ High price 86.8 ₹ PEG Ratio -0.94 Debt to equity 0.11
52w Index 73.1 % Qtr Profit Var -10.6 % EPS 7.85 ₹ Industry PE 16.6

📊 Financials

  • Revenue & Profitability: PAT rose slightly from ₹1,695 Cr. to ₹1,738 Cr., though quarterly variation shows -10.6% decline. EPS at ₹7.85 is decent.
  • Margins & Returns: ROCE (30.3%) and ROE (24.4%) highlight strong efficiency and profitability.
  • Debt: Debt-to-equity ratio of 0.11 indicates very low leverage, ensuring financial stability.
  • Cash Flow: Strong profitability and minimal debt support healthy cash flows.

💹 Valuation

  • P/E Ratio: 10.1 vs Industry PE of 16.6 → Undervalued compared to peers.
  • P/B Ratio: ~2.16 (Price ₹79.5 / Book Value ₹36.8) → Reasonable valuation.
  • PEG Ratio: -0.94 → Negative, indicating weak growth prospects relative to valuation.
  • Intrinsic Value: Current price appears undervalued, offering upside potential.

🏢 Business Model & Competitive Advantage

  • NMDC is India’s largest iron ore producer, benefiting from scale and government backing.
  • Competitive advantage lies in resource ownership, cost efficiency, and strong domestic demand.
  • Dividend yield of 4.15% is attractive, providing strong shareholder returns.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive near ₹72–76 range (close to DMA 200 at ₹76.6 and 52W low of ₹59.5).
  • Long-Term Holding: Strong candidate for long-term investors due to undervaluation, robust ROE/ROCE, and attractive dividend yield.


✅ Positive

  • Undervalued compared to industry peers (P/E 10.1 vs 16.6).
  • Strong ROCE and ROE indicate efficient capital use.
  • Debt-to-equity ratio of 0.11 ensures financial safety.
  • Dividend yield of 4.15% is highly attractive.

⚠️ Limitation

  • Negative PEG ratio (-0.94) highlights weak growth prospects.
  • Quarterly profit decline (-10.6%) signals near-term weakness.
  • EPS at ₹7.85 is modest relative to price.

📉 Company Negative News

  • Quarterly profit decline compared to previous quarter.
  • DII holdings reduced (-0.32%), showing cautious domestic sentiment.
  • MACD at -0.61 indicates weak technical momentum.

📈 Company Positive News

  • FII holdings increased (+0.44%), showing foreign investor confidence.
  • Dividend yield remains strong at 4.15%.
  • Stock trading near DMA 200 (₹76.6) shows technical support.

🏭 Industry

  • Iron ore and mining industry benefits from infrastructure growth and steel demand.
  • Industry PE at 16.6 suggests peers trade at higher valuations, making NMDC attractive.

🔎 Conclusion

  • NMDC is fundamentally strong with high efficiency, low debt, and attractive dividend yield.
  • However, weak growth prospects and profit volatility limit aggressive upside.
  • Best strategy: Accumulate near ₹72–76 range for long-term holding, with focus on dividend income and stability.

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