NMDC Steel Limited is a Government Company under administrative control of Ministry of Steel, Government of India. The shares of the Company are listed on BSE, NSE and Calcutta Stock Exchange. In 2023, NMDC Steel became a publicly traded company on the Bombay Stock Exchange and National Stock Exchange of India, after a demerger from NMDC in 2022.
The company represents a significant milestone in India's steel sector, having emerged as a standalone entity following its demerger from National Mineral Development Corporation (NMDC) Limited. NMDC Steel Limited (NSL) is NMDC's 3 MTPA integrated steel plant at Nagarnar in Chhattisgarh. The now demerged company NMDC Steel Limited is a central public sector enterprise with a paid-up capital of ₹2,930 Crore owned by the Government of India, under the administrative control of the Ministry of Steel.
The Company owns and operates the state-of-the-art 3.0 MTPA steel plant at Nagarnar, Chhattisgarh. The Steel plant has been built at a cost of approximately ₹24,000 Crore. The facility represents one of India's most modern steel manufacturing installations, featuring advanced technology and efficient production processes.
With its capability to roll 1650mm wide HR, the Thin Slab caster at Nagarnar Steel Plant is the widest Mill in the public sector. The plant's strategic location in Chhattisgarh provides excellent access to raw materials and transportation infrastructure, enhancing operational efficiency and cost-effectiveness.
The product mix of consists of low carbon steel, HSLA & Dual Phase Steel, and API quality steel that can be rolled into thickness range from 1mm to 16 mm. The company's diverse product range serves multiple industrial sectors and applications.
HR Coils, Sheets and Plates coming off India's latest and most modern mill are expected to meet the growing demand for quality HR required in the manufacture of LPG cylinders, bridges, steel structures, ships, large diameter pipes, storage tanks, boilers, railway wagons and pressure vessels and in construction of tanks, railway cars, bicycle frames, engineering and military equipment and automobile and truck wheels, frames and body parts. The plant will also be producing special type of steels to be used in manufacture of generators, motors, transformers and automobiles at a later stage.
NMDC Steel has a Market Cap of ₹11,860 Crore (down -30.1% in 1 year) as of recent market data. The company has shown significant operational progress despite facing initial challenges typical of new manufacturing ventures.
NMDC Steel (NSL), one of India's fastest-growing integrated steel producers, has reported a significant 179% increase in revenue from operations for FY25, reflecting the successful ramp-up of its 3 MTPA steel plant in Nagarnar and its transition to commercial production. The company posted revenue of ₹8,503.05 Crore in FY25, a sharp rise from ₹3,048.99 Crore in FY24, marking its first full year of operations since the commencement of commercial production in August 2023.
Key Financial Metrics (FY25):
- Revenue: ₹8,503.05 Crore (179% growth from FY24)
- Net Loss: ₹2,374 Crore (FY25)
- Market Cap: ₹11,860 Crore (as of recent data)
- Promoter Holding: 60.8%
NSL narrowed its net loss to ₹473 Crore in Q4 FY25, down from ₹860 Crore in Q4 FY24 and ₹758 Crore in Q3 FY25. This 38% sequential reduction in losses highlights the company's focus on operational efficiency, cost control, and optimized production processes.
The Government owns 60.79% stake in this company. This majority government ownership provides strategic advantages including policy support, financial backing, and alignment with national infrastructure development goals.
The company's relationship with its parent organization continues to provide operational synergies. NMDC is operating iron ore mines at Bailadila Complex in South Bastar Dantewada District Chhattisgarh and has long-term commitment to supply iron ore to major steel plants across the country from existing mines. Hence, a JV Company between NMDC and Chhattisgarh Mineral Development Corporation (CMDC) was formed for the development of a new deposit in the already prospected areas i.e Bailadila Deposit-4 with a production capacity of 7 MTPA for meeting the iron ore requirement of Nagarnar Steel plant.
The Nagarnar facility benefits from comprehensive infrastructure development. The 15 MTPA Slurry Pipeline System from Bailadila to Nagarnar and a 2 MTPA Pellet Plant at Nagarnar are being implemented by NMDC. This section of pipeline would be used for transporting iron ore fines from Bailadila to Nagarnar for pelletization.
The steel plant has a total power requirement of 296 MW out of which NMDC proposes to take 241 MW from the grid through Chhattisgarh State Power Transmission Company Limited (CSPTCL) and the remaining power be generated in-house. Thermax was selected by National Mineral Development Corporation in year 2012 under a ₹503-Crore contract to set up the captive power plant for the integrated steel plant.
Commenting on the results, Amitava Mukherjee, Chairman and Managing Director of NMDC Steel, said, "FY25 marks a pivotal phase in NSL's journey from commissioning to rapid operational scale-up. The exceptional growth in revenue reflects the team's commitment to disciplined execution and cost efficiency. As India's demand for high-quality steel continues to surge, NSL is strategically positioned to deliver both value and volume."
Recent corporate developments include management changes, with Shri Ashish Chatterjee appointed Government Director on NMDC Steel Limited board from June 11, 2025. The company continues to focus on operational excellence and regulatory compliance as it establishes its position in the competitive steel market.
NMDC Steel Limited represents a significant addition to India's integrated steel production capacity, combining modern technology, strategic location advantages, and government backing to serve the growing domestic and international steel markets. The company's focus on operational efficiency and product quality positions it to capitalize on India's expanding infrastructure development and industrial growth.
