NMDC NMDC
India's largest iron-ore miner, partnering GMDC on rare earths
Mapped in 1 theme: Rare-Earth Magnets (REPM).
Where NMDC sits in the supply chain
NMDC appears in 1 supply-chain layer in one theme, Rare-Earth Magnets (REPM).
Rare-Earth Magnets (REPM) › Hard-rock deposits & new miners
Emerging entrantOther companies in this layer
Revenue and profit
| ₹ Cr | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 21,308 | 23,906 | 32,071 |
| Net profit | 5,567 | 6,520 | 7,450 |
Latest-year revenue ₹32,071 Cr (FY26, company-wide). Wider screens show FY22 onwards.
Strengths
- Mining scale and cash flows to fund exploration
- MoU with GMDC (Mar 2026) on Ambadungar
Risks
- Rare earths are an MoU-stage side project next to ₹32,000 Cr of iron-ore revenue
Common questions
What does NMDC do?
India's largest iron-ore miner, partnering GMDC on rare earths.
Where does NMDC sit in the supply chain?
NMDC (NSE: NMDC) is mapped in 1 supply-chain layer: Hard-rock deposits & new miners (Rare-Earth Magnets (REPM)).
Who are NMDC's peers?
In the Hard-rock deposits & new miners layer of Rare-Earth Magnets (REPM): Gujarat Mineral Development Corporation (GMDC).
What is NMDC's market cap and valuation?
As of 30 Oct 2026: market cap ₹59,099 Cr, P/E 7.9x, ROCE 27.6%, ROE 23.4%, dividend yield 5.20%.