NMDC Steel Ltd

AGM details

• 11th AGM to be held on 28 September 2026 at 3:30 PM IST.
• Meeting will be conducted via VC/OAVM with no physical venue.
• Business to be transacted as set out in the AGM Notice.
• Notice of AGM will be sent in due course.
• Filing cites compliance with Companies Act 2013, SEBI LODR, MCA circulars.
• No governance or management changes disclosed.

Rating action

• Total bank loan facilities rated: Rs 4,500 crore.
• Long-term rating upgraded to Crisil A / Stable from BBB+/ Stable.
• Rating agency: Crisil Ratings Limited.
• Outlook: Stable.

Financial results approved

• Integrated financial results for quarter ended 30 June 2026 approved.
• Unaudited quarterly results for quarter ended 30 June 2026 approved with Limited Review.
• Statutory auditors issued Limited Review Report on the results.

Key metrics

• Revenue from operations: Rs 3,661.84 crore; total income: Rs 3,704.73 crore.
• Profit after tax: Rs 50.51 crore; EPS: Rs 0.19.
• Debt-to-equity ratio 0.38; DSCR 0.17; ISCO 1.59.

Debt and liquidity

• Rupee Term Loan from SBI sanctioned Rs 4,476.20 crore; outstanding Rs 3,177.27 crore.
• Interest rate revised to 8.40% p.a. effective 12 Jan 2026.
• Working capital limit Rs 4,100 crore; utilization Rs 1,870.73 crore fund-based.
• GST dispute: Rs 111.10 crore disputed; Rs 56.40 crore abeyance; Rs 0.35 crore under appeal.
• GoI disinvestment plan under strategic disinvestment; NMDC Steel to divest stake; NMDC may receive 10%.

Corporate structure & disclosures

• No subsidiary/JV/associate as of 30 June 2026; single segment.
• Independent auditor's limited review concluded no material misstatement.
• Statement prepared per Ind AS 34; Regulation 33 compliance noted.

Financial results and approvals

• Integrated unaudited results for quarter ended 30 June 2026 approved; Limited Review Report attached.
• Revenue from operations Rs 3,661.84 crore; total income Rs 3,704.73 crore.
• Profit after tax Rs 50.51 crore; basic EPS Rs 0.19.
• Rupee term loan outstanding Rs 3,177.27 crore; sanctioned Rs 4,476.20 crore.
• Interest rate revised to 8.40% p.a. from 12 January 2026.
• Working capital limit Rs 4,100 crore; utilisation Rs 1,870.73 crore fund-based.
• Utilisation Rs 1,005.64 crore non-fund-based.
• No default in repayment of borrowings and interest.
• GST matters: Rs 111.10 crore disputed; Rs 8.45 crore paid.
• Rs 45.90 crore dropped; Rs 56.40 crore in abeyance; Rs 0.35 crore under appeal.
• No subsidiary/JV/Associate as on 30 June 2026.
• Only reportable segment is iron and steel products; segment reporting not applicable.

Audit and regulatory disclosures

• Independent Auditor's Review Report: no material misstatement; conclusion not modified.
• Review performed under SRE 2410; not an audit opinion.

Company Secretary & Compliance Officer changes

• Resignation of Shri Aniket Kulshreshtha as Company Secretary & Compliance Officer, cessation 30 July 2026.
• Reason: appointment as Company Secretary in NMDC Limited.
• Appointment of Shri Paraj Kanti Saha as Company Secretary & Compliance Officer, effective 30 July 2026.
• Profile: Associate member of ICSI (A-75686); Fellow ICAI and ICMAI; NMDC Finance department since 2015.
• Prior to NMDC, he worked at IREL (India) Limited.
• Disclosure: No relationships with directors disclosed.

Director appointment

• Appointment of Shri Vivek Nishant Nath as Director (Commercial).
• Effective 15 July 2026 for five years, or until further orders.
• Appointment under MoS order S-14013/2/2025-BLA dated 14.07.2026.
• Profile: 30+ years in mining/metals with sales, marketing, procurement, logistics.
• Previous roles include NMDC, Essar Steel, ArcelorMittal Nippon Steel India, OMC.
• Last role: CGM (Sales & Marketing) at Odisha Mining Corporation (2024).
• Education: MBA in International Business; IIM Indore Management Development Programme.
• Relationships inter se: None among board.
• Not debarred from director office per SEBI order.
• Board composition: Nath added as Director (Commercial).

Director appointment

• MoS appoints Vivek Nishant Nath as Director (Commercial) on NMDC Steel.
• Appointment for five years from 14.07.2026, on assumption of charge, co-terminus with NMDC Limited.
• Nath currently serves as Chief General Manager, Odisha Mining Corporation Limited.
• Co-terminus basis: NMDC Limited CMD/Functional/Govt Directors to NMDC Steel.

Certificate details

• Compliance Certificate under Reg 74(5) for quarter ended 30 June 2026 enclosed from RTA M/s Aarthi Consultants.