NMDC posts best-ever annual performance

Hyderabad: The country's largest iron ore producer, NMDC, reported cumulative production and sales for the FY22 at 42.15 million tonnes (MT) and 40.70 MT respectively, a growth of 23% in production and 22% in sales over the same period last year. This records the best-ever annual physical performance for NMDC, powered by a steady growth in FY22.

Cumulative production and sales for Q4 of FY22 stood at 13.84 MT and 12.34 MT respectively, a growth of 12% in production and 12% in sales over the same period last year. This records the best ever quarterly physical performance for NMDC.

NMDC reported iron ore production of 4.98MT and sale of 4.21MT for the month of March 2022. With a growth of 9% in production and 3% in sales over CPLY, the mining major achieved the highest production and sales numbers for any March month in company history.

Congratulating the NMDC team for their company's best-ever performance, NMDC CMD Sumit Deb said, "NMDC has achieved a record-breaking physical performance for FY22 on the back of a propelling expansion and investment strategy, we are entering the new fiscal with a valuable headstart.

Our digitalisation drive is beginning to contribute to our improved performance and we are excited to see this transformation in how we do business and share the benefits with our stakeholders. As the Government of India seeks to ramp up the domestic per capita steel consumption in our country, NMDC will take on an enhanced role to strengthen raw material supply and give impetus to self-reliance in the sector."