NMDC IN EQUITY
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| CUSTOMER | BASIS | EST ₹CR | RANGE | % REV | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| Business | REV SHARE | 28,864 | 28,864–28,864 | 90.0% | COGS | FY26 | DISC | 90% |
| “Details of business activities (accounting for 90% of the turnover): S. No. Description of Main Activity Description of Business Activity % of Turnover of the …” AR p.202 · 31-MAR-26 DOC | ||||||||
| GAILGAIL (India) Ltd. | UNSTATED | 8,853 | 7,254–8,853 | 27.6% | — | FY25 | EST | 75% |
| “He also served as Government Nominee Director on the Boards of GAIL (India) Ltd., IOCL and EIL contributing to strategic decision-making in the energy sector.” AR DOC | ||||||||
| NSLNISPNMDC Steel Ltd. | CONTRACT | CT 4,075 | — | — | COGS | FY26 | EST | 85% |
| “Supply of iron ore fines and lumps by NMDC Limited to NMDC Steel Limited during FY 2025-26, on arm’s length price but on deferred payment basis, for an amount …” AR p.135 · 31-MAR-26 · +2 DOC | ||||||||
| Parties | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “(b) Particulars of Contracts or Arrangements with Related Parties Disclosures Disclosure of related party transactions forms part of the Notes to the Financial…” AR p.114 · 31-MAR-26 · +1 DOC | ||||||||
| Others | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “) Details 2021-22 2022-23 2023-24 2024-25 2025-26 Sale of Iron Ore 25,629.72 17,447.39 21,049.47 22,803.40 24,723.45 Sale of Diamonds 62.93 - - - - Sale of Win…” AR p.163 · 31-MAR-26 · +1 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “No. Particulars As at 4/1/2025 Additions Deletions As at 3/31/2026 1.1 Claims against the company not acknowledged as debts consisting of: a Tax on Mineral Rig…” AR p.373 · 31-MAR-26 · +1 DOC | ||||||||
| JINDALSTELJindal Steel Ltd. | UNSTATED | — | — | — | COGS | FY25 | EST | 75% |
| “In addition, NSL has entered into a contract with Jindal Steel and Power Limited (JSPL) for the supply and operation of four Bogie Flat Steel Wagon (BFNV) rake…” AR DOC | ||||||||
| Australia | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “To orchestrate this international synergy, we have established a new strategic hub in Dubai (United Arab Emirates), which serves as our tracking centre for min…” AR p.27 · 31-MAR-26 · +1 DOC | ||||||||
| Office | UNSTATED | — | — | — | COGS | FY25 | EST | 75% |
| “Priyadarshini served as Chief General Manager (P&A) and the Head of Personnel at the NMDC Corporate Office in Hyderabad as well as for NMDC Steel Limited in Na…” AR DOC | ||||||||
| NSLNISPNMDC Steel Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Starting his career as Executive Trainee at NMDC he has been serving the company since 1992.” AR p.218 · 31-MAR-26 · +1 DOC | ||||||||
| Middle East | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “To orchestrate this international synergy, we have established a new strategic hub in Dubai (United Arab Emirates), which serves as our tracking centre for min…” AR p.27 · 31-MAR-26 DOC | ||||||||
| Business | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “3.60% c. A brief on types of customers NMDC serves customers namely Business to Government (B2G), Business to Business (B2B) and Business to Customer (B2C) cus…” AR p.203 · 31-MAR-26 DOC | ||||||||
| All India | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “4-19) Business Responsibility and Sustainability Report FY 2025-26 (continued) à S. No. Name of the trade and industry chambers/ associations Reach of trade an…” AR p.252 · 31-MAR-26 DOC | ||||||||
| Australia | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “Geopolitical Risks in Overseas Investments Our international assets, particularly in Mozambique and Australia, are exposed to country-specific risks and curren…” AR DOC | ||||||||
| Office | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Office order no. NMDC/ DoP/2023/02 dated 29.04.2024 is issued regarding “Constitution of Tender Opening Committee & Tender Scrutiny Committee” for cost-based g…” AR DOC | ||||||||
| Authority. | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “Cessation of Dr. Anil Sadashivrao Kamble as Independent Director 31.10.2024 On account of completion of tenure appointment i.e. the period of Three Years as pe…” AR DOC | ||||||||
| MMTCMMTC Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Your Directors also acknowledge the support extended by the valued and esteemed customers, shareholders, stakeholders, MMTC, Chennai Port Trust, Visakhapatnam …” AR p.154 · 31-MAR-26 · +1 DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “ KARNATAKA, INDIA Integration into the DARPAN Customer Portal to enhance transparency in the order-to-delivery value chain.” AR p.29 · 31-MAR-26 · +2 DOC | ||||||||
| Government of Andhra Pradesh. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “: Nil 2.51.11 Chigargunta-Bisanatham gold block The Company was awarded the Letter of Intent (LOI) on October 7, 2022, for the Chigargunta-Bisanatham Gold Bloc…” AR DOC | ||||||||
| GALLANTTGallantt Ispat Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “- Fair engagement terms and timely settlement - Predictable order flow and clear specification - Transparent selection processes - Continuity of relationship t…” AR · +1 DOC | ||||||||
| Commissioning | UNSTATED | — | — | — | CAPEX | FY26 | EST | 70% |
| “Commissioning therefore needs an integrated readiness plan covering technical completion, utilities, people, operating procedures, inventory, quality and custo…” AR p.49 · 31-MAR-26 DOC | ||||||||
| GENERAL | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “• NMDC’s Donimalai Complex has won several prizes at the 57th Mines Safety Week Observance (2025–26), conducted under the aegis of the Directorate General of M…” AR p.152 · 31-MAR-26 DOC | ||||||||
| Directors | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Your Directors also acknowledge the support extended by the valued and esteemed customers, shareholders, stakeholders, MMTC, Chennai Port Trust, Visakhapatnam …” AR p.154 · 31-MAR-26 DOC | ||||||||
| Shri | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “k. Detailed reasons for the resignation of an Independent Director who resigns before the expiry of his / her tenure along with a confirmation by such director…” AR p.176 · 31-MAR-26 DOC | ||||||||
| Shri | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “In terms of the above said order, Shri Sanjay Tandon ceased to be Independent Director w.e.f. 14.04.2026.” AR p.176 · 31-MAR-26 DOC | ||||||||
| Securities and Exchange Board of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “- (Not applicable to the company during the period under review) (f) Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) …” AR p.269 · 31-MAR-26 DOC | ||||||||
| Directors | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “Details of material contracts or arrangement or transactions at arm’s length basis:- a. Corporate Identity Number (CIN): L27310CT2015GOI001618 b. Name(s) of th…” AR p.285 · 31-MAR-26 DOC | ||||||||
| Reserve Bank of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “No order has been passed with respect to Section 73 to 76, by the Company Law Board or National Company Law Tribunal or Reserve Bank of India or any Court or a…” AR p.308 · 31-MAR-26 DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “Year Chattisgarh 22,654.52 19,338.90 646.99 369.59 Telangana & Andhra Pradesh 20,779.45 19,218.51 44.39 1,578.89 Karnataka 3,385.62 2,191.82 108.76 57.61 Other…” AR p.388 · 31-MAR-26 DOC | ||||||||
| GENERAL | UNSTATED | — | — | — | COGS | FY26 | EST | 70% |
| “Ordinary Resolution: “RESOLVED THAT Shri Vivek Nishant Nath (DIN: 11832511) who was appointed as Director (Commercial) on the Board of the Company, in terms of…” AR p.530 · 31-MAR-26 DOC | ||||||||
| Indian Railways | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “He was awarded with National Award for Outstanding & Meritorious Service in 2009 by the Ministry of Railways, Govt. of India.” AR p.546 · 31-MAR-26 DOC | ||||||||
| Govt of India | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “He was awarded with National Award for Outstanding & Meritorious Service in 2009 by the Ministry of Railways, Govt. of India.” AR p.546 · 31-MAR-26 DOC | ||||||||
| BHELBharat Heavy Electricals Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 65% |
| “Prior to joining NMDC Limited, Shri Thakur was serving as Director (Human Resources) on the Board of BHEL w.e.f. July 4, 2023.” AR p.543 · 31-MAR-26 DOC | ||||||||
| CDSLCentral Depository Services (India) Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 60% |
| “The password to open the .pdf file is your 8 digit client ID for NSDL account, last 8 digits of client ID for CDSL account or folio number for shares held in p…” AR p.538 · 31-MAR-26 · +1 DOC | ||||||||
| National Mineral Development Corporation | UNSTATED | — | — | — | SG&A | 2026-06 | EST | 60% |
| “So both in terms of the importance of the customer National Mineral Development Corporation Limited June 01, 2026 Page 7 of 18 and the location, the logistics …” CONCALL DOC | ||||||||
| National Mineral Development Corporation | UNSTATED | — | — | — | — | 2024-08 | EST | 60% |
| “And we are presuming that National Mineral Development Corporation Limited August 16, 2024 Page 4 of 17 the order would be in line with this case.” CONCALL DOC | ||||||||
| SUPPLIER | BASIS | EST ₹CR | RANGE | % COST | BUCKET | PERIOD | METHOD | CONF |
|---|---|---|---|---|---|---|---|---|
| HINDZINCHindustan Zinc Ltd. | UNSTATED | 22,811 | 18,692–22,811 | 100.0% | — | FY25 | EST | 75% |
| “Mr. Chatterjee is presently serving as Government Nominee Director on the Boards of SAIL and NMDC.” AR DOC | ||||||||
| RVNLRail Vikas Nigam Ltd. | CONTRACT | CT 2,977 | — | — | — | FY27 | EST | 85% |
| “Sub: Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Letter of Award of Contract from NMDC Limited ͪ वषय: सेबी (एलओडीआर) ͪ वǓनयम, 2015 के ͪ वǓ…” ORDER p.1 · 20-JUN-26 · +2 DOC | ||||||||
| RVNLRail Vikas Nigam Ltd. | CONTRACT | CT 758 | — | — | CAPEX | FY27 | EST | 85% |
| “Sub: Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015- Receipt of Letter of Award of Contract from NMDC Limited ͪ वषय: सेबी (एलओडीआर) ͪ वǓनयम , …” ORDER p.1 · 22-MAY-26 · +2 DOC | ||||||||
| NSLNISPNMDC Steel Ltd. | CONTRACT | CT 8,000 | — | — | COGS | FY26 | EST | 85% |
| “Sale of HR Coils/Sheets/Plates produced by NMDC Steel Limited to NMDC Limited on a sustainable basis for an amount not exceeding ₹8,000 crore on a cumulative b…” AR p.135 · 31-MAR-26 · +2 DOC | ||||||||
| RAILTELRailtel Corporation Of India Ltd. | CONTRACT | CT 123 | — | — | CAPEX | FY23 | EST | 85% |
| “Dear Sir/Madam, Pursuant to Regulation 30 read with Part A (B) of Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, thi…” ORDER p.1 · 11-JAN-23 · +1 DOC | ||||||||
| Financial Year | UNSTATED | — | — | — | COGS | FY24 | EST | 75% |
| “Percentage of input material* (inputs to total inputs by value) sourced from suppliers: FY2024-25 (Current Financial Year) FY2023-24 (Previous Financial Year) …” AR DOC | ||||||||
| NATIONALUMNational Aluminium Co. Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 75% |
| “He served in various leadership capacities at NMDC Limited.” AR DOC | ||||||||
| HINDCOPPERHindustan Copper Ltd. | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “Khetri, Rajasthan assets transferred from NMDC Limited 1972 Indian Copper Corporation, Ghatsila nationalised and merged with HCL 1988 Wire rod plant at Taloja …” AR · +1 DOC | ||||||||
| CMPDICentral Mine Planning & Design Institute Ltd. | UNSTATED | — | — | — | — | 2026-10 | EST | 75% |
| “Shri Chatterjee is presently serving as Government Nominee Director on the Boards of SAIL and NMDC.” AR DOC | ||||||||
| NSLNISPNMDC Steel Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Pending a decision by the Board on the above, all the employees posted at NISP Unit of NMDC Limited are being maintained in the rolls of NMDC Ltd. Accordingly,…” AR p.192 · 31-MAR-26 · +1 DOC | ||||||||
| Directors | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “Details of contracts or arrangements or transactions not at arm’s length basis: a. Corporate Identity Number (CIN): L27310CT2015GOI001618 b. Name(s) of the rel…” AR p.285 · 31-MAR-26 DOC | ||||||||
| Shri | UNSTATED | — | — | — | COGS | FY26 | EST | 75% |
| “An alumnus of the Indian Institute of Technology (Indian School of Mines), Dhanbad, Shri Nath began his professional career with NMDC in 1992 and served the Co…” AR p.548 · 31-MAR-26 DOC | ||||||||
| Pioneer Tech Engineering Services | UNSTATED | — | — | — | R&D | FY26 | EST | 75% |
| “Vendor Pioneer Tech Engineering Services Payable 0.0102” AR p.363 · 31-MAR-26 DOC | ||||||||
| Bharti Infratel Limited | UNSTATED | — | — | — | — | FY26 | EST | 75% |
| “Vendor Bharti Infratel Limited Payable 0.0090” AR p.363 · 31-MAR-26 DOC | ||||||||
| BHELBharat Heavy Electricals Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Shri Krishna Kumar Thakur, who was appointed as Director (HR) on July 4, 2023, was relieved of the charge w.e.f. March 19, 2026 (F/N) to enable him to assume t…” AR DOC | ||||||||
| GAILGAIL (India) Ltd. | UNSTATED | — | — | — | SG&A | 2026-10 | EST | 70% |
| “The State Government has filed an appeal before the SCI, and based on merits of the case duly supported by a legal opinion and a favorable order from the High …” AR DOC | ||||||||
| Karnataka | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “NMDC has conducted exclusive MSE SC / ST vendor meets at its projects in Chhattisgarh and Karnataka and also at Hyderabad to understand the tender process and …” AR p.134 · 31-MAR-26 · +1 DOC | ||||||||
| Others | UNSTATED | — | — | — | — | FY26 | EST | 70% |
| “Note: 2.29 Other Financial Liabilities (Current) INR in crore Particulars Figures as at the end of 31st March 2026 Figures as at the end of 31st March 2025 Unp…” AR p.364 · 31-MAR-26 · +1 DOC | ||||||||
| HINDCOPPERHindustan Copper Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “Dr. Sanjeev Kumar Sinha, Deputy General Manager (DGM), NMDC Ltd has been appointed as Director (Operations), HCL w.e.f. the date of assumption of charge i.e, 0…” AR DOC | ||||||||
| TEGATega Industries Ltd. | UNSTATED | — | — | — | CAPEX | FY25 | EST | 70% |
| “Mehul Mohanka Managing Director and Group CEO of McNally Sayaji Engineering Limited in 2023 began contributing to our equipment business, helping secure key or…” AR DOC | ||||||||
| TEGATega Industries Ltd. | UNSTATED | — | — | — | COGS | FY25 | EST | 70% |
| “TMML successfully commissioned operations at the prestigious project of Hutti Gold Mine and was awarded a contract as part of a consortium, from NMDC, India's …” AR DOC | ||||||||
| NETWEBNetweb Technologies India Ltd. | UNSTATED | — | — | — | — | FY25 | EST | 70% |
| “The Company serves a broad spectrum of clients, including leading academic and research institutions such as the Indian Institutes of Technology (IITs) and the…” AR p.21 · 31-MAR-25 DOC | ||||||||
| ADANIPOWERAdani Power Ltd. | CONTRACT | CT 163 | — | — | — | FY26 | EST | 70% |
| “Nominated authority vide order dated March 16, 2022 determined ` 163.23 crore being the total compensation payable by successful allottee (NMDC) to MEL.” AR · +1 DOC | ||||||||
| JSWSTEELJSW Steel Ltd. | UNSTATED | — | — | — | SG&A | FY26 | EST | 70% |
| “The State Government has filed an appeal before the SCI, and based on merits of the case duly supported by a legal opinion and a favorable order from the High …” AR DOC | ||||||||
| CONCORContainer Corporation of India Ltd. | UNSTATED | — | — | — | SG&A | FY26 | EST | 70% |
| “Shri Anurag Kapil Director (Finance) (Additional Charge) 31.03.2026 Cessation Relieved from the services of CONCOR as he was appointed as Director (Finance) at…” AR p.102 · 31-MAR-26 DOC | ||||||||
| GPILGodawari Power & Ispat Ltd. | UNSTATED | — | — | — | — | 2025-11→2026-02 | EST | 65% |
| “but the supply from NMDC is limited to a certain extent.” CONCALL · +1 DOC | ||||||||
| ITCITC Ltd. | UNSTATED | — | — | — | — | FY26 | EST | 60% |
| “Note: 2.18 Other Current Assets INR in crore Particulars Figures as at the end of 31st March 2026 Figures as at the end of 31st March 2025 Advances to supplier…” AR p.358 · 31-MAR-26 · +1 DOC | ||||||||
| Indian Railways | UNSTATED | — | — | — | — | 2025-02 | EST | 60% |
| “1, 1.5 from Indian Railways is fine enough, the other one has to come from the private suppliers.” CONCALL DOC | ||||||||
| TEGATega Industries Ltd. | UNSTATED | — | — | — | — | 2025-11 | EST | 60% |
| “Sharad Khaitan: No. We have received the NMDC order, and we have started the execution of the NMDC order.” CONCALL DOC | ||||||||
| SOURCE | READ | % | LAST READ |
|---|---|---|---|
| ANNOUNCEMENTS | 4/4 | 100% | 07-NOV-26 |
| ANNUAL | 2/2 | 100% | 08-NOV-26 |
| CONCALL | 4/4 | 100% | 15-OCT-26 |
| ORDERS | 4/4 | 100% | 07-NOV-26 |
| SCREENER | 1/1 | 100% | 08-NOV-26 |
| SIGNAL | VALUE | AS OF | INPUTS |
|---|---|---|---|
| CUSTOMER HHI | 1.000 | 14-NOV-26 | GAIL (India) Ltd. share 100% |
| CUST MOM 1M | +11.0% | 14-NOV-26 | from 15-OCT-26 · GAIL (India) Ltd. +11.0% w 1 · Central Depository Services (India) Ltd. +11.9% w 0 · Jindal Steel Ltd. +12.4% w 0 · NMDC Steel Ltd. +2.0% w 0 · MMTC Ltd. -1.8% w 0 · Gallantt Ispat Ltd. -16.4% w 0 |
| SUPP MOM 1M | +4.5% | 14-NOV-26 | from 15-OCT-26 · NMDC Steel Ltd. +2.0% w 0 · ITC Ltd. +8.0% w 0 · Bharat Heavy Electricals Ltd. +0.5% w 0 · Rail Vikas Nigam Ltd. +1.4% w 0 · GAIL (India) Ltd. +11.0% w 0 · Hindustan Copper Ltd. -2.9% w 0 |