NMDC Steel cuts losses sharply in Q2 FY26
NMDC Steel, which split off from mining giant NMDC, cut its losses sharply this quarter—reporting a ₹114.78 crore net loss for July-September 2025, way better than last year's ₹595 crore hit.
The big reason? Revenue more than doubled, even though costs also went up.
Revenue more than doubles, but costs remain high
The company's income jumped to ₹3,411 crore from just ₹1,535 crore a year ago. But higher raw material prices pushed expenses to ₹3,593 crore.
Compared to the previous quarter (April-June 2025), revenue barely moved and profits shrank—operating margins dropped from 12% to just 6% as fixed and interest costs piled on.
NMDC Steel runs India's newest major steel plant
NMDC Steel runs India's newest major steel plant at Nagarnar—a huge project costing around ₹23,000 crore.
They're still ramping things up but heavy investment and loan costs are making it tough to turn a profit right now.
The company is betting on smoother operations ahead for better results.