NMDC STEEL LIMITED Share price

NMDC Steel Limited is a listed Central Public Sector Undertaking (CPSU) under Ministry of Steel, Government of India. NMDC Steel is a testament to India's industrial prowess, representing a strategic initiative by the Ministry of Steel to augment nation's steel production capabilities. Among the major players in the Indian steel sector, the organisation is engaged in the production of quality steel and adding to the country's manufacturing potential. The Company operates a state-of-the-art integrated steel plant with a production capacity of 3 million tonnes per annum (MTPA), located at Nagarnar in Bastar, Chhattisgarh. Developed as a strategic initiative of the Government of India, the Plant enhances the country's domestic steel production. NMDC Steel Limited was incorporated as a subsidiary of NMDC Limited on January 2, 2015. Its strategic positioning near the high-grade iron ore reserves of NMDC's Bailadila mines ensures a steady supply of the major raw material. The plant benefits from excellent connectivity to the Visakhapatnam seaport and the capital city, Raipur, facilitating smooth logistics and distribution. The President of India currently holds a 60.79% stake in the Company as at March 31, 2024. Over the past year, NMDC Steel Limited has made steady progress in ramping up production and stabilizing operations. The 220KV GIS (Gas Insulated Switch) main receiving sub-station was started in March, 2018, followed by power supply to the Sinter Plant. The Company commissioned its first Coke Oven Battery No 1 in October, 2022 along with By Product Plants & Part of Raw Material Handling. Coke Oven Battery No 2 was put to operations from 24.04.2023. Sinter Plant was put on hot trails on 19.04.2023. Central Zero Liquid Discharge (ZLD) was made operational since 01.04.2023. Oxygen Plant Stream No. 2 was put on operation from 21.04.2023. Further, the Company commenced trail production of Hot Rolled Coils from its Rolling Mill on 30 June, 2023. Pursuant to the Scheme of Arrangement between NMDC Limited and the Company implemented in October, 2022 for the Demerger between NMDC Limited and the Company, the business of NMDC Iron & Steel Plant at Nagarnar was demerged from NMDC Limited into the Company on April 1, 2022 and the said Scheme became effective from October 13, 2022. 2,93,06,05,850 Equity Shares were listed effective from February 20, 2023 through the Scheme of Arrangement. On August 15, 2023, the Steel Plant reached a crucial turning point with the inauguration of its Blast Furnace. This event marked the final commissioning phase of the Plant. Commercial production of Hot-Rolled (HR) Coils began on August 31, 2023, marking a key operational for the Nagarnar Steel Plant. The Company has commissioned its steel manufacturing plant operations in FY 2025.