NMDC Limited (NMDC) Fair Value & Analysis
Basic Materials · IN · Market cap ₹739B (≈ $7.8B) · ISIN INE584A01023
What is NMDC Limited really worth?
A solid business, trading 25% below our fair value of ₹112.98.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 26 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from ₹116.23 to ₹112.98 (−2.8%) since Jul 16, 2026. Share price −1.3% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
- Solid quality (62/100) at a price below fair value, the discount is the argument here, not the business quality.
- A fairly wide model range (₹71.42 to ₹163.71) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range ₹21.70 – ₹96.04 · fair‑value band ₹71.42 – ₹163.71 · the ₹84.70 price screens below the ₹112.98 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
NMDC Limited (NMDC) currently trades at ₹84.70, while our model-based Fair Value estimate is ₹112.98, implying the stock looks roughly 25.0% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Basic Materials sector. Bull case: the Growth Earnings group reads highest at a median of ₹165.42 per share, and 20 of the 26 models we run sit above the ₹84.70 price. Bear case: the Asset-Based group reads lowest at ₹25.96, and 6 of the 26 models stay below the price. Evidence for this calculation is low.
Over the trailing twelve months, NMDC Limited generated revenue of ₹321B at a net margin of 23.2%. Revenue grew 61.9% year over year. It earns a return on equity of 23.4%. The balance sheet holds a net cash position of ₹49.8B. Fundamentals as of Aug 13, 2026
Our scenario range runs from ₹71.42 (bear case) to ₹163.71 (bull case); at ₹84.70, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 13% below its 52-week high and 32% above its 52-week low, currently above its 200-day average. For context, the median of 10 Basic Materials peers we cover trades at −22% fair-value upside, at 33%, NMDC screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹2.15 per share, which is 1.9 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: Growth Earnings (₹165.42) versus Asset-Based (₹25.96). Highest evidence: FCF DCF (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 59
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
NMDC Limited, together with its subsidiaries, explores for and produces iron ore in India and internationally. It operates through Iron Ore, and All Other Segments (Pellets, Other Minerals & Services).
Full company description
NMDC Limited, together with its subsidiaries, explores for and produces iron ore in India and internationally. It operates through Iron Ore, and All Other Segments (Pellets, Other Minerals & Services). The company also explores for lithium, copper, rock phosphate, limestone, beach sand, coking and non-coking coal, magnesite, diamond, tungsten, nickel, gold, base metals, and rare earth metals. In addition, it produces and sells hot rolled coil and pellets; and generates and distributes solar and wind power. The company exports its products. NMDC Limited was incorporated in 1958 and is headquartered in Hyderabad, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
NMDC Limited reported revenue of ₹321B in FY2026 versus ₹260B in FY2022, a compound +5.4%/yr. Reported net income was ₹74.5B in FY2026, compounding −5.7%/yr from FY2022.
of which total revenue +12.1 % · buybacks/dilution +2.6 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
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Peer Group
Steel · 398 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Steel median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 25/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Steel stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Nucor Corporation NUE | $250.50 | $116.05 | −54% |
| ArcelorMittal S.A MT | €64.60 | €46.04 | −29% |
| JSW Steel Limited JSWSTEEL | ₹1,296 | ₹1,119 | −14% |
| Steel Dynamics, Inc STLD | $234.67 | $127.14 | −46% |
| 500228 500228 | ₹1,292 | ₹1,079 | −16% |
| Tata Steel Limited TATASTEEL | ₹186.80 | ₹145.39 | −22% |
| Reliance, Inc RS | $387.59 | $217.81 | −44% |
| Baoshan Iron & Steel Co 600019 | ¥5.91 | ¥8.07 | +37% |
| POSCO Holdings PKX | $63.13 | $85.21 | +35% |
| Jindal Steel & Power Limited JINDALSTEL | ₹1,114 | ₹429.44 | −61% |
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