India's NMDC saw a 30% YoY surge in iron ore production in Q2, hitting a record high

NMDC, India's largest producer, achieved its best-ever production performance in Q1 of FY2026 (April 2025-March 2026). Specifically,

in terms of production: the company's iron ore production in Q1 of FY2026 surged 30% YoY to 11.99 million mt, compared to 9.19 million mt in the same period last year;

in terms of sales: iron ore sales increased 14% YoY to 11.52 million mt, compared to 10.07 million mt in the same period last year. This robust growth was attributed to the continuous optimization of the company's operational efficiency.

Profit performance: Driven by the increase in both production and sales, the company's revenue in Q1 increased by 23% to 66.34 billion rupees (approximately $797 million). However, due to cost management and market pressures, the company's profit side was under significant pressure, with after-tax profit reaching 19.69 billion rupees (approximately $236 million), a slight decrease of 0.8% YoY; EBITDA only increased slightly by 2% to 27.77 billion rupees (approximately $333 million).

The company stated that it would continue to expand its capacity in the future to meet India's domestic and support India's goal of increasing steel production capacity to 300 million mt by 2030.