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How to Read NMDC’s Monthly Production and Sales Report

NMDC’s monthly report is a provisional iron ore volume update. Learn how to compare monthly and cumulative production and sales without mistaking them for financial results.
From TheFinanceBase Team3 min to read
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NMDC’s monthly production and sales report is a provisional update on iron ore volumes, not a financial-results statement. To interpret it, match each measure to the right period, compare it with the same period a year earlier, and read the state-level rows as well as the total. The figures do not, by themselves, show revenue, prices, profit, inventory movements or why production and sales differ.

What NMDC’s monthly report tells you

The filing reports iron ore production and sales, identifies the financial year and reporting month, and labels the figures provisional. For example, NMDC’s disclosure dated 1 November 2025 is titled “Details of Production & Sales of Iron Ore (Provisional) for and upto October, 2025” and covers October 2025 in FY 2025-26. NMDC’s investor disclosures are the place to check for the report covering the month you need; the October 2025 example is not evidence of the latest filing today.

“Provisional” means the figures are reported as provisional, not as final audited totals. Treat them as an operational volume update rather than a measure of financial performance.

How to read the four measures

The table separates the current month from the financial-year-to-date total, and production from sales. Each current-period figure has a corresponding prior-year comparison.

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Measure What it covers Like-for-like comparison
Production for the month Iron ore produced during the reporting month The same month one year earlier
Sales for the month Iron ore sold during the reporting month The same month one year earlier
Cumulative production Production from the start of the financial year through the reporting month The same year-to-date endpoint one year earlier
Cumulative sales Sales from the start of the financial year through the reporting month The same year-to-date endpoint one year earlier

“Cumulative up to October” therefore means the financial-year-to-date total through October, not October’s production or sales alone. Compare October with October, and cumulative figures through October with the prior year’s cumulative figures through October. A monthly figure and a cumulative figure cover different spans and should not be compared directly.

What production and sales mean—and what a gap does not prove

Production is the volume produced; sales is the volume sold. They are distinct measures. If production in a month is greater than sales, that difference alone does not establish what happened to inventory, whether timing or product mix mattered, or why the figures diverged. The monthly filing does not provide that causal explanation.

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The report measures volume in MT. In the October 2025 table, 4.27 MT means 4.27 million tonnes in the filing’s reporting convention. It is not a statement of price per tonne or money earned.

Worked example: NMDC’s October 2025 figures

The total row of NMDC’s 1 November 2025 provisional filing gives the following values. Amounts are in million tonnes (MT), as reported by NMDC; the earlier-period figures are the matching October 2024 month or cumulative period.

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Measure October 2025 / through October 2025 Corresponding prior-year period
Monthly production 4.27 4.07 in October 2024
Monthly sales 3.89 4.03 in October 2024
Cumulative production 26.47 through October 2025 21.55 through October 2024
Cumulative sales 26.14 through October 2025 23.84 through October 2024

Read the comparisons separately: October 2025 production was above October 2024 production, while October 2025 sales were below October 2024 sales. Through October, both cumulative production and cumulative sales were above their corresponding year-earlier totals. Those are volume comparisons only; they do not explain the causes or financial effect of the differences.

How to read the state rows

The October 2025 table reports Chhattisgarh and Karnataka separately, followed by a total. The monthly production and sales figures were:

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Region October 2025 production (million tonnes) October 2025 sales (million tonnes)
Chhattisgarh 3.06 2.77
Karnataka 1.21 1.12
Total 4.27 3.89

Read the regional rows to see each state’s reported contribution before relying on the total for the company-wide headline. The table shows the amounts, but does not supply enough context to explain why a state’s contribution changed.

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What the filing cannot tell you about NMDC’s finances

Production and sales volumes alone do not establish the price realized per tonne, revenue attributable to those tonnes, costs, margins or profit. To assess those questions, consult the relevant pricing disclosures and financial results rather than deriving a financial conclusion from the volume table. NMDC’s July 2025 disclosure uses the same monthly, cumulative and prior-year comparison pattern and links to its investor page for “Details of Production and Sales and Prices of Iron Ore.”

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