Your Directors are pleased to present the 68^th Annual Report
on the performance of your Company, together with the
Audit Report and Financial Statements for the year ended
31.03.2026 and the Report thereon by the Comptroller and Auditor
General of India.

1.0 STATE OF COMPANY AFFAIRS &
PERFORMANCE HIGHLIGHTS

During the year under review, NMDC made significant strides
in its physical and financial performance. Most notably,
the Company achieved its best-ever production during the
financial year 2025-26, of 53.16 MT of iron ore as compared to
44.07 MT during the previous year 2024-25, thereby recording
an increase of 20.62%. Further, the Company recorded an
all-time high in sales of 50.24 MT as compared to 44.40 MT
during the previous year.

Revenue from Operations during the financial
year 2025-26 grew by about 33.31% to
' 31,554 crore. Profit Before Tax (PBT) from continuing
operations (before exceptional item) increased by 9.24% to
' 10,156 crore. The Company clocked a Profit After Tax (PAT) of
' 7,421 crore i.e., an increase of 10.88% over the previous year.

2.0    PHYSICAL PERFORMANCE

2.1    Production

3.0 SALES OF IRON ORE

3.1 Other Sales

4.0FINANCIAL PERFORMANCE

4.1 Operating Results

There has been no change in the nature of business for the year under review.

4.2    Profit & Dividend

•    During the year under review, your Company earned
Profit before Tax of ' 10,155 crore and Profit after Tax of
' 7,421 crore vis-a-vis the previous year's figures of
' 9,296 crore and ' 6,693 crore respectively.

•    The Company declared Interim Dividend for the financial
year 2025-26 @ ' 2.50 per share in the month of February,
2026 and the same was paid to the shareholders within
the prescribed timelines.

•    The total amount of payment towards Interim Dividend
for FY 2025-26 was ' 2,197.95 crore, out of which
' 1,336.22 crore was paid to the Government of India in
respect of its shareholding of 60.79% in the Company.

•    Further, the Board of Directors recommended
the payment of Final Dividend for the
FY 2025-26 @ ' 1.00 per share in the month of May 2026,
subject to the approval of shareholders in the AGM.

4.3    Share Capital

As on 31.03.2026, the Authorized Share Capital of the
Company was '1,000 crores divided into 1000,00,00,000
equity shares of '1.00 each. Further, the Paid-up capital was
'879.18 crores divided into 879,18,17,550 equity shares of '1.00
each.

4.4    Transfer to Reserves

The Company transferred an amount of ' 1,000 crore from Net
profit to General Reserve for the financial year 2025-26.

4.5    Material changes and commitments, if any,
affecting the financial position of the Company,
which have occurred between the end of financial
year of the Company to which the financial
statements relate and the date of the report: nil

4.6    Deposits

The Company has not accepted any deposits covered under
Chapter-V of the Companies Act, 2013 during the year under
review.

4.7    Non-Convertible Debentures (NCDs)

During the year under review, the Company has not issued
any Non-Convertible Debentures (NCDs).

5.0INTERNAL CONTROL SYSTEMS WITH
REGARD TO FINANCIAL STATEMENTS

Necessary disclosures in respect of Internal Control Systems
and their adequacy have been made in Annexure-C to the
Independent Auditors' Report dated 29.05.2026 which forms
part of the Annual Report.

6.0 (a) Particulars of Loans, Guarantees and
Investments Under Section 186 of the
Companies Act, 2013

Necessary details in this regard have been disclosed in
the financial statements.

(b)    Particulars of Contracts or Arrangements with Related
Parties Disclosures

Disclosure of related party transactions forms part of
the Notes to the Financial Statements (Standalone and
Consolidated) of the Company for the financial year
2025-26. Further, the requisite disclosure in Form AOC-2
is also annexed herewith.

(c)    Maintenance of Cost Records

Section 148(1) of the Companies Act, 2013 specifies
the provisions of maintenance of Cost Records of the
Company. The Company is maintaining such records as
per Rule 4(2) of the Companies (Cost Records and Audit)
Rules, 2014 under both regulatory and non-regulatory
services.

7.0 NEW PROJECTS & BUSINESS
DIVERSIFICATIONS

In line with the Vision Plan 2030, aimed at achieving a 100
MTPA production, NMDC has taken up several schemes
for augmenting its production capacity and evacuation
infrastructure. Additionally, new deposits and 'Ore Crushing,
Screening and Loading' (OCSL) plant facilities are also
envisaged to support this goal.

During the financial year 2025-26, the following Projects were
undertaken by NMDC:

A.    Ongoing Projects

1.    Screening Plant - III - Kirandul Complex;

2.    Slurry Pipeline Project which includes facilities like 15
MTPA Slurry Pipeline from Bacheli to Nagarnar along
with 2.0 MTPA Ore Processing Plant at Bacheli and 2.0
MTPA Pellet Plant at Nagarnar;

3.    Doubling of KK line between Kirandul & Jagdalpur;

4.    Screening Plant - II- Donimalai Complex;

5.    New crushing Plant and Downhill Conveyor system at
Deposit 14 &11C;

6.    Township Project at Kirandul;

7.    Township Project at Donimalai;

8.    Automatic Sampling System; and

9.    In-pit Crushing and Conveying system at Donimalai.

B.    Projects / Schemes for capacity expansion

•    With the objective of augmenting the production and
improving evacuation facilities from Bailadila Sector,
various schemes such as setting up of Screening
Plant - III at Kirandul, New Crushing Plant of Deposit 14 &
11C and Downhill conveyor system at Kirandul, additional
screening lines in Bacheli, Rapid Wagon Loading System
(RWLS) at Kirandul etc. are envisaged. Increasing
the evacuation capacity is also a major area of focus
for enhancing the life of mines and accordingly, the
schemes like Beneficiation plant at Bacheli & Kirandul
and Slurry pipeline from Bacheli to Nagarnar and Pellet
Plant at Nagarnar have been taken up.

•    In Screening Plant - III project at Kirandul, the site work
in packages like MRSS package, Dry Circuit (major
technological package), Wet Circuit and Miscellaneous
Building packages are in progress. The Rapid Wagon

Loading System (RWLS) package has been completed
and is in operation. The overall progress of the project
was 82% as on 31.03.2026.

•    In Screening Plant - II project at Donimalai, the site work
of main technological package is in progress. The overall
progress of the package was 60% as on 31.03.2026.
The balance packages in Screening Plant - II project,
MRSS package and Tailing Dam Package have also been
awarded and work is in progress.

•    The work relating to construction of New Crushing
Plant & Downhill Conveyor System for Deposit 14 &
11C, Kirandul was awarded on 21.03.2025. The overall
progress of the package was 16% as on 31.03.2026.

•    Expansion of Bacheli Complex is envisaged to enhance its
mining capacity from present 18.8 MTPA to 35.0 MTPA by
creating additional OCSL facilities for Deposit 5, Deposit
10 & 11A. As part of this expansion programme, dedicated
and standalone OCSL facilities are being established
separately for Deposit 5 and Deposit 10 & 11A, along
with associated evacuation systems. An Engineering,
Procurement and Construction Management (EPCM)
consultant has been appointed for construction of the
new OCSL facilities including preparation of the Detailed
Project Report.

C. Projects / Schemes to enhance evacuation
capacity

In order to augment the evacuation capacity from Bailadila
sector, the following projects & schemes are being taken up
by the Company:-

•    Doubling of KK line between Kirandul & Jagdalpur
(150.462 km) is being carried out by Railways as a
Deposit work and overall progress for this work is 97%.
The doubling of 128 km stretch of railway line has already
been completed and is in operation. Further, work for
doubling of 12.42 km & 9.5 km rail line is expected to
be completed during the Financial Year 2026-27. The
completion of this project will augment the evacuation
capacity of Bailadila sector through railway line from 28
MTPA to 60 MTPA.

•    NMDC has taken up an ambitious project of laying a
Slurry Pipeline from Bailadila to Nagarnar. The capacity
of the Pipeline is 15 MTPA and this will be associated with
facilities like Beneficiation plant at Bacheli and Pellet
plant at Nagarnar. Laying of slurry pipeline between
Bacheli and Nagarnar, 2.0 MTPA Ore Processing plant at
Bacheli and 2.0 MTPA Pellet Plant at Nagarnar are also
being taken up in Phase-1 for implementation.

•    Site development works of Ore Processing Plant (OPP)
at Bacheli and Pellet Plant at Nagarnar and enabling
works of Ore Processing Plant & Pellet Plant at Nagarnar
are completed along with soil investigation studies. All
the packages have been awarded and the work for the
packages like Slurry Pipeline Laying, Slurry Pumping
System, Technological Package of Pellet Plant at
Nagarnar and for Ore Processing Plant at Bacheli, Main
Receiving Substation and construction activities at site,
are in progress. As on 31.03.2026, 134.28 km of Pipeline
laying, out of 135.3 km, was completed. The overall
progress of the project was 94% as on 31.03.2026.

•    To improve evacuation capacity from the Kirandul
Complex, construction of Rapid Wagon Loading System
- II (RWLS - II) has been undertaken along with the laying
of a third railway line in the MV siding area. A scheme
for installation of RWLS-III has also been developed to
replace the existing bunker-based loading system.

•    To ensure reliable transportation of fines to stockpiles,
installation of a parallel conveyor (315N-3) and revamping
of the existing conveyor (315N) has been taken up.

•    To improve evacuation capacity from the Bacheli
Complex, Rail No. 5 at the Bacheli yard has been
developed to enable evacuation at the rate of one rake
per day through semi-mechanized means. In addition, a
conveyor system is planned to transport fines from the
dump area to Rail No. 5; thereby, eliminating the need for
truck transportation.

D. Township Facilities

•    As part of its commitment to enhancing employee
welfare and supporting future expansion, NMDC has
undertaken the development of modern high-rise
residential quarters across its Kirandul, Bacheli and
Donimalai projects. These developments are being
executed to replace existing housing infrastructure with
improved and sustainable living facilities.

•    At Kirandul, construction of 365 residential quarters has
been completed. Further, work has been awarded for
development of additional 430 quarters, along with four
hostel towers, to augment the existing capacity.

•    At Donimalai, the construction of 360 residential quarters
is currently under progress.

•    At Bacheli, NMDC has awarded the consultancy work for
construction of approximately 2,400 residential quarters,
with an envisaged completion timeline of 36 months.

E.    Development of New Deposits / Project

During the year, NMDC commenced its mining operations in:-

•    Tokisud North Coal Block in Jharkhand for coal and

•    Ground Breaking for Deposit-4, NCL near Bhansi,
Chhattisgarh for iron-ore.

NMDC also awarded the work of 'Operation, Maintenance and
Development of Assets' (OMDA) for 1.2 MTPA Pellet Plant at

Donimalai for 15 years in NPP model on revenue sharing basis.

F.    Digital Initiatives and New Technologies

NMDC is also working on additional initiatives such as
automatic sampling systems and digital project management
unit to streamline operations and improve efficiency. A brief
on the digital intervention measures taken up by the Company
are as follows:

•    Digital Project Management Unit (DPMU): To monitor
the progress of projects/ schemes, a digital monitoring
tool has been implemented. All projects/ packages
costing above ' 30 crore are being monitored through
this platform, which enables NMDC to ensure timely
completion of projects/packages.

•    In-Pit Crushing and Conveying System at Donimalai: The

new technology towards crushing & conveying of iron ore
in the mine pit to reduce the haulage through dumpers,
is under implementation at Donimalai Complex.

•    Automatic Sampling System: The project is being
implemented at Kirandul, Bacheli and Donimalai
complexes. The initiative will facilitate automated
sample collection for iron ore, thereby replacing the
earlier manual sampling process. The collected sample
will be subjected to elemental analysis in XRF-based
robot operated lab.

8.0 OVERSEAS PROJECTS - NMDC GLOBAL

a) Australia

Legacy Iron Ore Limited, Perth, Australia

Legacy Iron Ore Limited ('Legacy') is an ASX-listed mineral
resources Company based in Perth, Western Australia,
focusing on gold, iron ore and base metals. As on 31.03.2026,
NMDC held 92.84% equity share in the Company. Legacy
holds 25 prospective tenements across its Mount Bevan,
South Laverton and East Kimberley project areas in Western
Australia. The tenements are in various stages of exploration
for a host of commodities including iron (1), gold (20), base
metals and tungsten (4).

The Mount Bevan Project in Western Australia is of
strategic importance to Legacy. It endows a significant
magnetite Mineral Resource of 1.29 billion tonnes at
33.50% Fe (JORC Inferred & Indicated). Legacy signed a
Joint Venture (JV) Magnetite Agreement with Hancock
Prospecting Ltd (Hancock) to complete a Pre-Feasibility
Study (PFS). Under this arrangement, Hancock has
completed the PFS studies. After completing of the
PFS, the shareholding in JV changed with Legacy holding
29.40%, Hancock holding 51% and Hawthorn Resources
holding 19.60% interest in Mount Bevan JV. After completion
of PFS, Hawthorn Resources opted to exit with royalty option
and accordingly, the shareholding in JV changed with Legacy
holding 36.57% & Hancock holding 63.43%.

Mount Bevan is progressing in DFS study through activities
aimed at further defining, optimising and de-risking the
project. With successful completion, it is expected to support
advancement towards a Financial Investment Decision.

Under Mt. Bevan Lithium & Other Minerals Joint Venture of
Hancock & Legacy signed in June 2023, Hancock earned
an initial 7.5% interest through an upfront payment of AUD 4
million to Legacy (60%) and Hawthorn (40%). During Stage
I exploration, 7,731 metres of RC drilling were completed,
with the results indicating that several pegmatites were
intersected, although they exhibited only weak lithium
enrichment. Following the completion of Stage I expenditure
commitments, the current shareholding stands at Hancock
15%, Legacy 51% and Hawthorn 34%. As per agreement,
Hancock Prospecting has submitted a notice and royalty deed
for their election to convert their 15% participating interest in
the Mt. Bevan Lithium & Other Minerals JV into royalty.

The South Laverton Project of Legacy includes Mount Celia,
Yilgangi, Yerilla and Patricia North gold assets. Mining Lease
for Mount Celia Gold Project has been granted by the Western
Australian Department of Mining Industry Regulation and
Safety (DMIRS) in the first half of 2023.

Legacy commenced Gold mining operations in Mt. Celia
Gold Project on 05.11.2023 and first sale of ore took place
in March 2024. Legacy has entered into an Ore Purchase
Agreement (OPA) with Paddington Gold Pty. Ltd. for sale of
ore. Subsequently, Legacy has entered into a right to mine
agreement with BGR mining, wherein BGR is funding the
operational expenses and the profits will be shared as per
the agreed terms. The mining and development activities
under Right to Mine Agreement ceased from December, 2025
and ancillary activities such as ore haulage to mill and road
maintenance were completed on 22.02.2026.

Further, Mount Celia has declared updated JORC resource of
8.8 million tonnes @ 1.38 g/t with 390K ounces of contained
gold, in April 2026.

The Patricia North, Yilgangi, Sunrise Bore and Yerilla
tenements remain at various stages of exploration maturity
across Western Australia. Patricia North was granted a two-
year extension in December, 2025.

At Yilgangi, geophysical desktop studies, UAV drone magnetic
surveys, data acquisition and geophysical interpretation were
completed, with the survey results announced to the ASX in
April 2026.

At Sunrise Bore, field investigations and sample collection
were completed to support the tenement extension process,
with the extension application scheduled for submission in
June 2026. Future exploration activities at the project will be
guided by the outcomes of heritage surveys and sampling
results.

At Yerilla, heritage-related consultations with relevant
stakeholders are in progress. Minimum commitment
exploration works, including geological mapping and
sampling, have been completed for the Kimberley tenements
(Koongie Park, Sophie Downs, Taylor Lookout and Ruby
Plains).

b)    Mozambique: International Coal Ventures Private
Limited (ICVL)

International Coal Ventures Private Limited, a joint venture
Company of SAIL, RINL, NMDC, CIL & NTPC, acquired a coking
coal asset in Mozambique in 2014 and its operations were
taken over by ICVL. NMDC holds 25.94% stake in ICVL. Benga
mine, the operational asset of ICVL, could not produce coal
in FY 2025-26 due to termination of coal mining operation
services contract and delay in mobilisation & ramp up by the
new mining contractor. However, it managed to export 0.49
million tonnes of Coal (0.02 million tonnes of Coking Coal +

0.47 million tonnes of Thermal Coal) during the FY 2025-26.

c)    Setting up of International offices in Dubai and
Sydney

As part of NMDC's strategic global outreach and business
development initiatives, NMDC has established international
offices in Dubai and Sydney. These offices serve as key hubs
for strengthening engagement with global stakeholders,
monitoring international market developments, identifying
new business opportunities and enhancing access to critical
mineral resources.

9.0    LEASES FOR MINERALS

9.1    Iron ore

Your Company has five iron ore leases in Chhattisgarh and
two Iron Ore Leases in Karnataka. The present status is as
under: -

In Chhattisgarh

9.2 Diamond Mining Leases

Your Company has two leases at Panna Diamond Mining
Project, Madhya Pradesh. The details of leases are given
below:

9.3 Coal Mines

a) Tokisud North Coal mine (non-coking coal mine):

The coal mine was allotted on 17.08.2020, with project area
of 585 Ha. NMDC has obtained transfer of Environment
Clearance (EC), Stage II Forest Clearance (FC), permission for
Railway siding & obtained NoC for ground water abstraction
and appointed Mine Developer and Operator (MDO) to
undertake mining operations. Government of Jharkhand
transferred Govt. land (GM, JJ & AAM Khas) from previous
allottee to NMDC and lease transfer deed was executed on
16.10.2025 for 121.02 acres at Mine site. The forest land vested

to NMDC has been released on 06.04.2025 and tree cutting
permission was received on 09.10.2025. On cancellation of 95
deeds due to irregularities in purchase by previous allottee,
NMDC initiated land acquisition under Coal Bearing Area
(Acquisiton & Development) Act, 1957, notification under
Section 9 has been issued on 22.07.2025 and notification
under Section 11 has issued on 03.11.2025, which is equivalent
to grant of Mining Lease. Consent to Establish (CTE) and
Consent to Operate (CTO) has been obtained from JSPCB on
21.11.2025 and 27.12.2025 respectively.

On obtaining the Mine opening permission and seam opening
permission, the mining operations have commenced on
23.01.2026.

b) Rohne coal mine (Coking coal mine):

The coal mine was allotted on 18.06.2021. The mine comprises
an area of 1,245 Ha, out of which 825 Ha has been explored &
420 Ha is yet to be explored.

In the area to be explored (420 Ha), obtained transfer of Stage
I Forest Clearance (FC). Compliance to Stage I FC submitted
& paid NPV charges. MOEF&CC has delinked Stage I FC
conditions applicable to mining area & NMDC has submitted
compliance of Stage I FC. MoEF&CC has asked NMDC to
submit the Wildlife Management Plan of the exploration area.
The exploration activity will be taken up after de-lineation of
wildlife corridor by the State Forest Department/ MoEF&CC
and issuance of Stage II FC for exploration.

In explored area (825Ha), NMDC has obtained transfer of EC,
Stage I FC. For acquisition of entire land (including restored
land), NMDC has initiated land acquisition under Coal Bearing
Area (Acqusition & Development) Act, 1957. The Ministry
of Coal issued the Section 9 notification on 05.06.2025
and subsequently issued the Section 11(1) notification on
03.11.2025, which is equivalent to the grant of a Mining Lease
(Surface and Mining Rights for 825 Ha of mining area).

The grant of stage II FC is presently under consideration by
MoEF&CC. On receipt of all the clearances, NMDC expects to
operationalise Rohne by end of this FY 26-27.

9.4 Your Company has applied for various minerals
in different State for prospecting and mining
Operations, which are as follows:

1. Odisha

a) Malangtoli Iron Ore Deposit

Your Company has carried out detailed exploration of
Malangtoli Iron ore deposit, Odisha during 1972-77 and
established mineable reserve of 340 Million tonnes.

Your Company is putting efforts and pursuing the matter
with Ministry of Mines, Govt. of India through MoS, GoI
for reservation of Malangtoli Iron Ore Block in favour of
NMDC where detailed exploration was carried out by
NMDC. Due to continuous persuasion by your Company,
Ministry of Mines, Govt. of India sent a letter to Govt. of
Odisha on 04.01.2022 regarding their comments on the
instant proposal and observation made by IBM, Nagpur.

Director (Mines), Govt. of Odisha vide letter dated

06.10.2022    requested NMDC to provide the information
for reservation of Malangtoli Iron Ore block (B, F & G
Blocks) over an area of 39.03 sq. kms under section
17A for grant of Mining Lease. Against the above
communication of DMG, Odisha, NMDC vide letter dated

25.10.2022    has submitted the information as sought and
requested DMG, Odisha and Ministry of Mines to reserve
the said Malangtoli Iron Ore block under Section 17A of
MMDR Act, 1957 for grant of mining lease as the applied
area was already explored by NMDC.

NMDC vide letter dated 12.12.2023, requested Chief
Secretary Govt. of Odisha (with a copy to MoM & MoS,
GoI) to send a positive response to Ministry of Mines,
GoI letter dated 04.01.2022, so that prior approval to
Malangtoli Iron Ore Block can be provided by MoM, GoI.

A meeting was held on 02.02.2024 at MoM, GoI, under
the Chairmanship of Hon'ble Secretary, MoM, GoI related
to the reservation blocks under Section 17A of MMDR
Act, 1957. Hon'ble Secretary, MoM, GoI gave his consent
to discuss the matter with GoO regarding reservation of
Malangtoli Iron Ore Block in favour of NMDC Limited.

CMD, NMDC vide letter dated 27.02.2024 had requested
MoM, GoI (with a copy to Mos, GoI) to take up the matter
with GoO for reservation of Malangtoli Block.

As discussed in the meeting held on 02.02.2024
regarding Section 17A, MoM, GoI sent 4^th reminder
letter to GoO on 27.02.2024 for requisite information/
comments from GoO. On 08.04.2025 MoM, GoI sent
again 5^th reminder letter to GoO for their comments
related to reservation of Malangtoli Iron Ore Block.

On 08.07.2024, CMD, NMDC requested Chief Secretary,
Govt. of Odisha to take up the matter with Additional
Chief Secretary (Steel & Mines), Govt. of Odisha to take
action upon the MoM, letter regarding reservation of
Malangtoli Block.

GoO officials informed that Govt. of Odisha, Dept. of Steel
& Mines vide Notification dated 21.05.2024 has asked

Odisha Mining Corporation (OMC) to carry out Geological
exploration in the 12 Mineral Blocks of Sundergarh and
Keonjhar District, under Rule 67 of MCR, 2016. Out of 12
allotted Blocks to OMC, Block No. 4 Samarchuan Blocks
is overlapping with the NMDC applied Malangtoli Iron
Ore Block.

On 24.03.2025, NMDC has sent a letter to the Secretary,
MoS to take up the matter with MoM, GoI regarding
Malangtoli area overlapping with 12 Mineral Blocks
allocated to OMC for G-2 level Exploration.

On 10.02.2026, NMDC has submitted a formal request
to the Additional Chief Secretary, Steel & Mines,
Government of Odisha, seeking the consideration for the
exclusion or denotification of the area allocated to M/s
Odisha Mining Corporation Limited. NMDC has already
conducted G-1 level exploration for the Malangtoli block
and has applied for its reservation under Section 17A of
the Mines and Minerals (Development and Regulation)
Act, 1957.

On 23.03.2026, MoS, GoI requested the Additional Chief
Secretary (Steel & Mines), GoO, for the reservation of the
Malangtoli block.

Your Company is putting efforts and pursuing the matter
with MoM, GoI for reservation of Malangtoli Iron Ore
Block in favour of NMDC. Matter is under consideration
with Govt of Odisha.

b) Rakma Iron Ore Deposit

Your Company has applied for Rakma Iron Ore deposit
vide letter dated 14.11.2023 to Ministry of Steel (MoS),
Government of India (GoI) has submitted the Rakma
Iron Ore Composite Licence Blocks Reservation Proposal
located in Keonjhar and Sundergarh District, Odisha
applied under Section 17A of MM(D&R) Act, 1957.

On 14.03.2024, MoS, GoI asked NMDC to submit reply
on various queries related to the NMDC applied Rakma
Iron Ore Block. NMDC submitted the reply to MoS, GoI on

16.03.2024.

On 16.04.2024, MoS, GoI forwarded NMDC application to
MoM, GoI for reservation of Rakma Iron Ore Block and on

23.04.2024,    MOM, GoI asked IBM to send its comments
related to NMDC applied Rakma Iron Ore Block.

Dept of Steel & Mines, Govt. of Odisha vide Notification
dated 21.05.2024 has requested Odisha Mining
Corporation (OMC) to carry out Geological exploration
in the 12 Mineral Blocks of Sundergarh and Keonjhar
District, under Rule 67 of MCR, 2016.

On 01.07.2024, MoM, GoI has sent 1^st Reminder to
Government of Odisha (GoO) to furnish comments/
views on the aforesaid proposal.

Out of 12 allotted Blocks to OMC, Block No.1 (Badamgarh-
Khajuridihi) is overlapping with NMDC applied Rakma
Block.

NMDC has requested for the exclusion or de-notification of
the area for which it has sought reservation of the Rakma
Iron Ore Block on 10.02.2026. In the correspondence,
NMDC addressed the issues of overlapping claims and
urged the Additional Chief Secretary, Steel & Mines, to
recommend the reservation of this block under Section
17A of the MMDR Act, 1957.

On 23.03.2026, MoS, GoI requested Additional Chief
Secretary (Steel & Mines), GoO for the reservation of
Rakma Block.

Your Company is putting efforts and pursuing the matter
with MoM, GoI for reservation of Rakma Iron Ore Block in
favour of NMDC. Matter is under consideration with Govt.
of Odisha.

c) Kansa Nickel Block

As discussed during the meeting of Niti Ayog by Addl.
Secretary, Ministry of Mines dated 20.05.2024, NMDC
had submitted the proposal for reservation of Kansa
Nickel Block (Area: 8.0 Sq. Km.) located in Jajpur
District, Odisha in favour of NMDC under Section 17A of
MMDR Act, 1957 to MoS, GoI on 04.10.2024.

MoM, GoI on 11.11.2024 requested IBM and GoO to furnish
its comments related to NMDC's applied Kansa Nickel
Block.

Dept. of Steel & Mines GoO, on 21.11.2024 forwarded the
proposal to DMG, Odisha for its comments on NMDC
proposal. During the visit to DMG, Odisha on 20.01.2025,
it was informed by DMG Officials that GSI has been asked
to offer its views on the NMDC applied Kansa Nickel
Block proposal. GSI is conducting exploration activities
on the NMDC applied Kansa Nickel Block. Depending
on the results obtained after exploration an appropriate
decision will be taken.

GSI, Bhubaneswar on 20.01.2025 was also visited to
discuss the exploration status of Kansa Nickel Block.
GSI Directors informed that earlier based upon 180 Bore
holes, GSI estimated Geological reserve (G-2 Level) of 40
MT with more than 1% Ni Content and average occurrence
of Nickel ore upto 100m depth. GSI also stated that the

Block is highly prospective for Cobalt also. GSI officials
said that the exploration work may be completed by 3^rd
quarter of FY 2025-26. Further, they suggested based on
G-2 level exploration report NMDC may apply for Mining
Lease.

NMDC officials visited GSI, Bhubaneswar on 30.01.2026
to find out exploration status of Kansa block. DDG and
Director, GSI, Bhubaneswar informed that they expect to
complete exploration work by February, 2026.

On 07.02.2026, NMDC submitted a formal request to
the Geological Survey of India (GSI) seeking permission
for NMDC officials to conduct a site visit to the Kansa
Nickel Block. Subsequently, on February 10, 2026, NMDC
officials, accompanied by representatives from GSI,
visited the Kansa Nickel Block to assess the site.

2. Maharashtra

a) Karampalli Iron Ore and Damkodi-Metta Iron Ore Blocks

Your Company vide letter dated 30.09.2023 has applied
two Iron Ore Blocks Karampalli (21.81) Sq. Km and
Damkodi-Metta (24.68) Sq. Km. in Gadchiroli District,
Maharashtra to MoS, GoI for reservation under Section
17A of MMDR Act, 1957.

MoS, GoI vide Office Memorandum dated 20.11.2023 sent
the NMDC reservation proposal to Ministry of Mines,
Govt of India.

Your Company is putting efforts and pursuing the
matter with Ministry of Mines, Govt of India through
MoS, GoI for reservation of above two Iron Ore Blocks.
A meeting was held on 02.02.2024 at MoM, GoI, under
the Chairmanship of Hon'ble Secretary, MoM, GoI related
to the reservation blocks under Section 17A of MMDR
Act, 1957. Secretary, MoM, GoI remarked in the meeting
to examine the proposals of Damkodi - Metta Iron Ore
Block & Karampalli Iron Ore Block in light of the legal
provisions.

Based upon the queries raised by MoM, GoI, NMDC
has submitted the reply to MoS, GoI on 28.02.2024 for
onward submission to MoM, GoI.

MoS, GoI forwarded the reply of NMDC to MoM, GoI on
dated 18.03.2024. Matter is under consideration with
MoM, GoI.

On 08.04.2024 MoM, GoI requested Govt. of Maharashtra
and IBM, GoI in their separate letters to send comments
on reservation of two applied Iron Ore Blocks in
Maharashtra.

On 02.06.2024 MoM, GoI in its reminder letter No. M.VI-
16.03.2024-Mines VI asked IBM to furnish its comments/
views with a report on the aforesaid proposal at the
earliest so that further necessary action may be taken by
MoM, GoI in the matter.

A meeting was held on 06.12.2024 under the
Chairmanship of Hon'ble Minister of Steel. The meeting
was related to the proposal of reservation blocks pending
with MoM, GoI, where State Govt. already had offered its
comments. Both the NMDC applied Iron ore proposals
of Maharashtra were also discussed. Secretary (Steel)
emphasized for the reservation of these mineral blocks
in favour of PSUs. Secretary (Mines) assured to look after
the matter in positive manner.

CMD, NMDC Ltd. vide letter dated 30.07.2025 requested
the Chief Secretary, Govt. of Maharashtra, to facilitate the
reservation of the two Iron ore blocks (Karampalli and
Damkodi-Metta) applied by NMDC Limited in Gadchiroli
District, Maharashtra.

On 04.04.2026, NMDC submitted a formal request letter
and annexures pertaining to reservation proposals of
Karampalli Iron Ore Block and Damkodi-Metta Iron Ore
Block.

3.    Chhattisgarh

a) Iron Ore Mining Lease Area Enhancement

Your Company vide letter dated 13.12.2023 requested
the Secretary, MRD, Govt. of Chhattisgarh to take up the
matter with Ministry of Mines, Govt. of India regarding
enhancement of the maximum area limit for Iron Ore
Mining Lease from 50 Km² to 100 Km² in the state of
Chhattisgarh under first proviso of section 6(1) (b) of
MMDR Act, 1957.

On 18.01.2024, MRD, Govt. of Chhattisgarh forwarded the
proposal to DMG, GoCG. On 20.03.2025 CMD, NMDC
discussed the matter with Chief Secretary and Secretary,
MRD, GoCG. GoCG has assured to take-up the matter
with MoM, GoI.

4.    Karnataka

a) Ramandurg Iron ore Block:

Your Company has submitted a proposal on 28.05.2024
to MoS, GoI, for reservation of Ramandurg Iron Ore Block
under section 17A of MMDR Act, 1957 for an area of 4.79
Sq.Km. for grant of mining lease in favour of NMDC
Ltd for non-captive purpose. MoS, GoI sent queries on

29.05.2024 to NMDC for clarification and the same

were replied by NMDC to MoS on 03.06.2024. MoS, GOI
forwarded the proposal to MoM, GOI on 18.06.2024.

On 08.11.2024 MoM, GoI asked GoK to furnish comments
on NMDC reservation proposal. The matter is under
consideration with State Govt.

b) DMS Mining Lease, Bellary District:

NMDC submitted an application on 25.03.2025 to the
Secretary, Ministry of Steel, Govt. of India to reserve 19.02
Ha. area of M/s Deccan Mining Syndicate's cancelled
ML of Iron ore (ML No. 2525) in Sandur Taluk, Bellary
District, Karnataka as it falls within Kumaraswamy ML
of NMDC, under Section 17A of MM (D&R) Act, 1957 for
grant of mining operation.

5.    Andhra Pradesh

a) Jerella Bauxite Block:

Your Company has applied for Korukonda (Jerella)
Bauxite block over an area of 9.90 Sq.km in Alluri
Sitharama Raju district (Earstwhile Vishakhapatnam
District) to Ministry of Steel, Govt. of India for reservation
under Section 17 (A) of MM (D&R) Act, 1957 vide letter
dated 27.10.2023. Vide letter dated 04.01.2024, MOM,
GoI has enquired some information from MoS related to
reservation of the applied block. On 12.01.2024, NMDC
Ltd. has submitted the information/relevant documents
to MoS, GoI. On 16.01.2024, the same was forwarded by
MoS, GoI to MoM, GoI for further course of action.

On 03.07.2024 MoM, GoI has asked IBM, Hyderabad
and GoAP to comment on the proposed block. On

11.08.2024, DMG, Ibrahimpatnam asked DMG, Paderu
Alluri Sitharamaraju District, A.P. to offer its comments
on NMDC proposal.

DMG, Paderu, Alluri Sitharamaraju District, A.P. on

21.11.2024 has sent its reply to DMG, Ibrahimpatnam. The
matter is under consideration with GoAP.

NMDC is pursuing the matter with GoAP.

6.    Jharkhand

a) ML Jain and R Mc Dill (Karampada West Iron Ore Block):

An application has been submitted over an area of
312.43 Ha by clustering Mining Leases of M/s M L Jain
& Sons and M/s R Mc Dill Co Pvt. Ltd, West Singhbhum
District, Jharkhand for reservation of Composite Licence
in favour of JNMDC on 20.09.2019 under Section 17A of
MM(D&R) Act, 1957.

As per the media news dated 02.02.2021, Ministry of
Mines, Govt. of India has informed to the Secretary,
Mines, Govt. of Jharkhand that the 7 Iron ore Leases of
Jharkhand which were lapsed on 31.03.2020, have to
be put for auction and if the successful bidder fails to
operate the mines, then it can be reserved for State PSU.

DMG, Govt. of Jharkhand has completed G3 Level of
Exploration through GSI in 2021. NMDC is going to write
a letter to MoS, GoI to take up the matter with MoM,
GoI and Government of Jharkhand to reserve the area
covering 312.43 Ha by clustering of expired leases of M/s
M.L. Jain and Sons and R. Mcdill Co. Pvt. Ltd in West
Singhbhum District, Jharkhand for Composite License
under Section 17A of MMDR Act, 1957.

NMDC vide letter dated 20.01.2025 submitted an
application to MoS, GoI for reservation of Karampada
West Iron Ore Block, located in West Singhbhum District,
Jharkhand under Section 17A of MMDR Act, 1957 for
grant of Mining Lease in favour of Jharkhand Mineral
Development Corporation Limited (JNMDC).

MoS, GoI vide a letter dated on 22.01.2025 asked queries
to NMDC related to the applied Karampada West Iron
Ore Block.

A detailed reply addressing the queries from the MoS,
GoI was sent to MoS on 18.02.2025.

NMDC vide letter dated 23.03.2026 submitted an
application to the Director, DMG, GoJH for reservation
of Karampada West Iron Ore Block under Section 17A of
MMDR Act, 1957 for grant of Mining Lease in favour of
JNMDC.

b) Ghatkuri Iron Ore Deposit:

JNMDC submitted a proposal on 17.10.2017 to the
Secretary, Department of Industries Mines & Geology,
GoJ, for reservation of Ghatkuri Iron ore deposit, West
Singhbhum District, Jharkhand, under Section 17A of
MM(D&R) Act, 1957 for grant of Prospecting and Mining
operation.

NMDC vide letter dated 01.02.2021 requested Addl.
Sec. MoS, GoI to take up the matter with MOEF &CC for
exempting the Ghatkuri Iron Ore area from conservation
zone and keep it under Mining Zone so that this block
can be reserved for JNMDC.

NMDC vide letter dated 23.03.2026 submitted an
application to the Director, DMG, GoJH for reservation
of Ghatkuri Iron ore Block (area: 12.30 Sq. Km.) located
in West Singhbhum District, under Section 17A of MMDR
Act, 1957 for grant of Composite License in favour of
Jharkhand National Mineral Developent Corporation
Limited (a Joint venture company) with NMDC holding
60% stake.

3.5 NMDC-CMDC Limited (NCL)

NMDC-CMDC Limited (NCL) is a Joint venture Company of
NMDC Limited and CMDC Limited with a share capital ratio
of 51% and 49%, respectively. The present status of all the
projects of the Company is as follows :

a) Bailadila Deposit-4

Ministry of Mines, GoI has reserved Bailadila Iron Ore
Deposit-4, over an area of 646.596 Ha in favour of NMDC-
CMDC Limited (NCL) under Section 17A (1A) of the MMDR
Act, 1957 vide their Gazette notification no. 697(E) dated
30.09.2019 for prospecting and mining operations. MRD,
GoCG issued an LOI for grant of Mining lease vide letter dated
26.06.2021 in favour of NCL. The mining plan of Deposit-4 was
approved by IBM, Raipur on 24.09.2021 upto 20.01.2031.

Ministry of Environment, Forests and Climate Change
(MoEF&CC), New Delhi granted Environmental Clearance
(EC) to Bailadila Iron Ore Deposit-4 Mine with a production
capacity of 7.00 MTPA ROM Iron Ore and 6.41 MTPA Waste
Excavation (i.e. total excavation capacity of 13.41 MTPA) along
with 2000 TPH Crushing plant inside Mine Lease area on

09.08.2025.

SEIAA, Chhattisgarh, on 22.09.2025, granted Environmental
Clearance for Screening-Cum-Beneficiation Plant (750 TPH of
4 lines each) along with 2,200 TPH Downhill Conveyor and
Loading Facilities in Forest area - 100.077 Ha and Revenue
land (Government, Private and Bade Jhad ke Jungle) of
22.4658 Ha located outside the Mining Lease area of Bailadila
Iron Ore Deposit-4.

Thereafter, MoEF&CC, New Delhi on 20.11.2025 granted the
'final' approval for FC Stage-II under Section 2 of the Van
(Sanrakshan Evam Samvardhan) Adhiniyam, 1980 for non¬
forestry use of 682.2722 Ha (570.100 Ha inside lease and
112.1722 Ha outside lease) forest land for Bailadila Iron Ore
Deposit-4 Mine in favour of M/s NMDC-CMDC Limited.

The 'Consent to Establish' (CTE) / Environment safeguard
was issued for 2 MTPA capacity on 02.02.2026 and 'Consent
to Operate' (CTO) for 2 MTPA capacity was issued by CECB on

20.02.2026.

The Mining Lease has been executed and registered in the
name of NCL on 21.01.2026 for a period of 50 years. The
ground breaking at Bailadila Iron Ore Deposit-4 has been

done on 27.02.2026. Further, efforts are underway for the
start of commercial mining operations from Deposit-4.

b) Bailadila Deposit -13

Mining lease was granted for Bailadila Iron Ore Deposit-13
over an area of 413.745 Ha in favour of NMDC Limited for 50
years by State Government of Chhattisgarh vide order no. F3-
84/95/12 dated 07.01.2017 and lease deed for the same was
executed on 10.01.2017 over an area of 315.813 Ha.

As per JV agreement dated 27.03.2007 by and between
CMDC Ltd. and NMDC Ltd., mining lease of Bailadila Iron Ore
Deposit-13 has to be transferred in the name of NMDC-CMDC
Limited (NCL) and then, NCL will undertake all the required
steps for development and operation of the mine. Further,
mining lease grant order no. F3-84/95/12 dated 07.01.2017 in
respect of Deposit-13 issued by State Govt. of Chhattisgarh,
stipulated that 'after the execution of lease deed, NMDC will
transfer the mining lease to the JV Company viz. NMDC-
CMDC Limited'.

Mineral Resources Department, Govt. of Chhattisgarh, issued
an order no. F3-84/95/12 dated 06.11.2017 for transferring
the mining lease of Bailadila Iron Ore Deposit-13 in favour
of NMDC-CMDC Limited (NCL). Further, Mining Lease of
Deposit-13 was transferred and executed in favour of NMDC-
CMDC Limited (NCL) on 04.12.2017.

MoEF&CC, GOI, accorded transfer of Environmental Clearance
in name of NMDC-CMDC Limited from NMDC on 12.12.2019.
The final Forest clearance under Section 2(ii) of Forest
Conservation Act 1980, was granted over an area of 315.813
Ha. in favour of NMDC Limited by MoEF&CC on 09.01.2017
and CECB granted approval for Consent to Establish (CTE)
in favour of NMDC Ltd. for 2 MTPA capacity on 17.10.2017.
Thereafter, CECB granted approval to NCL for Consent to
Operate for 2 MTPA on 27.04.2019.

The updated Mining Plan of Bailadila Iron Ore Deposit-13 for
the period from 2026-27 to 2030-31 was approved by IBM,
Raipur on 13.12.2025.

On 30.09.2025, NMDC Ltd. submitted application for the
transfer of final Forest Clearance (315.813 Ha.) in respect
of BIOM Deposit - 13 from NMDC Ltd. to NMDC-CMDC Ltd.
Accordingly, MoEF&CC, New Delhi has accorded approval for
transfer of forest clearance from NMDC Ltd. to NMDC-CMDC
Ltd. on 02.06.2026. The State Government has issued forest
land diversion order for 315.813 Ha forest land to NMDC-CMDC
Limited on 15.07.2026. The ground breaking at Bailadila Iron

Ore Deposit-13 has been done on 23.07.2026 and efforts are
underway for the start of commercial mining operations from
Deposit-13.

c) Baloda - Belmundi Diamond Block

Ministry of Mines, GOI vide G.S.R.744(E) dt. 14.10.2021
granted reservation of Baloda-Belmundi Diamond Block for
Prospecting Lease or Mining Lease in favour of NMDC-CMDC
Limited under Section 17A(1A) of MMDR Act, 1957. NCL, vide
letter dated 13.01.2022, submitted application to Secretary,
MRD, GoCG for grant of Prospecting License for Baloda-
Belmundi Diamond Block.

MRD, GoCG, Raipur vide letter dated 02.01.2023 has issued
final grant order for prospecting licence of Baloda-Belmundi
Diamond Block. PL deed of Baloda- Belmundi Diamond Block
with GoCG was executed on 28.02.2023 and the same is
registered on 01.03.2023.

District Collector, Mahasamund vide letter dated 26.05.2023
gave permission to NMDC-CMDC Limited to start the
prospecting work. In first phase of prospecting work,
69 soil samples and 31 stream sediment samples were
collected. Microscopic sorting work for 31 Stream Sediment
samples, Geophysical ground magnetic survey, Resistivity
(Geophysical) survey work and EPMA (Electron probe micro¬
analyser) study of sorted samples has been completed.

Further, an agency has been appointed for conducting the
pre-feasibility study of Baloda-Belmundi Diamond Block and
the following works were completed:

•    70 No. Stream Sediment Samples collected and Pre¬
processing at Wadia Institute of Himalayan Geology,
Dehradun and microscopic sorting of the collected
samples completed. EPMA Analysis for 14 no. of samples
have been completed.

•    A cumulative borehole drilling of 500 meters (5 Angular
Boreholes at 45 Degrees and 1 Vertical Borehole) has
been achieved across 6 boreholes.

•    Ground Magnetic Survey of 254 magnetic data points
completed.

Further, 200 Tonnes of bulk samples were collected and
transported to NMDC DMP, Panna for processing. The
processing of the 200-tonne bulk sample has resulted in the
recovery of five (5) diamonds with a total weight of 1.22 carats
(after acid wash). Out of which 2 are of gem variety (total
caratage of gem variety is 0.25 carat) and rest 3 are of Non¬
Gem Variety (total caratage of non-Gem variety is 0.97 carat).

10.0 SUBSIDIARY / ASSOCIATE / JOINT VENTURE (JV) COMPANIES MONITORING
FRAMEWORK (as on 31.03.2026)

NMDC has 4 (four) Subsidiaries, holds stake in 3 (three) Joint Venture Companies and 2 (two) Associates Companies. The details
of subsidiaries, joint ventures and associate companies of NMDC are as follows:

Notes:

1.    The subsidiaries of NMDC are managed through its respective Board of Directors. The framework for Subsidiary / Associate / JV
Companies are as under:-

i)    All investments in these Companies are approved / authorized by the Board of Directors.

ii)    The Company nominates its representatives on the Board of these Companies.

iii)    The minutes of the Board meeting of these Companies are placed before the Board of NMDC Limited.

2.    Subsidiary / Associate / Joint Venture Companies have been categorized in line with disclosures as made in the financial statements.
For details of subsidiaries / associate companies under closure, please refer to Form AOC-1 forming part of the Financial Statements.

3.    During the year, the Company received a communication from the Administrative Ministry i.e. Ministry of Steel conveying the
concurrence of Department of Investment and Public Asset Management (DIPAM), Ministry of Finance for incorporation of a Wholly
Owned Subsidiary (WOS) in GIFT City, Gandhinagar, Gujarat. The incorporation of the subsidiary is in progress.

11.0 Environmental Clearances, Consent to
Establish & Consent to Operate

During the year, the Company has obtained various

Environmental Clearances (EC), Forest Clearances (FC),

Consents to Establish (CTE) and Consents to Operate (CTO)

for its mining and associated projects.

i.    BIOM, Bacheli Complex:

a)    Consent to Establish (CTE) obtained on 16.05.2025 for
capacity expansion of Deposit-5 (10 to 12 MTPA ROM)
from Chhattisgarh Environment Conservation Board,
Raipur under Air (Prevention & Control of Pollution) Act,
1981 & Water (Prevention & Control of Pollution) Act,
1974.

b)    Renewal of Consent to Operate (CTO) obtained
on 19.05.2025 for Deposit-10 (ROM 6 MTPA) from
Chhattisgarh Environment Conservation Board under
Air (Prevention & Control of Pollution) Act, 1981 & Water
(Prevention & Control of Pollution) Act, 1974.

c)    Renewal of Authorisation obtained on 22.09.2025
under the Hazardous and Other Wastes (Management
& Transboundary Movement) Rules, 2016 for Deposit-5
from Chhattisgarh Environment Conservation Board,
Raipur.

d)    Consent to Operate (CTO) obtained on 03.10.2025 for
capacity expansion of Deposit-5 (10 to 12 MTPA ROM)
from Chhattisgarh Environment Conservation Board
under Air (Prevention & Control of Pollution) Act, 1981 &
Water (Prevention & Control of Pollution) Act, 1974.

e)    Renewal of Consent to Operate (CTO) obtained on
20.01.2026 for capacity expansion of Deposit-5 from
10 to 12 MTPA ROM Iron Ore (20% expansion) from
Chhattisgarh Environment Conservation Board under
Air (Prevention & Control of Pollution) Act, 1981 & Water
(Prevention & Control of Pollution) Act, 1974.

ii.    Iron Ore Beneficiation Plant (IOBP), Pellet Plant
(PP) and Slurry Pipeline (SPL):

a)    Extension of Consent to establish (CTE) obtained
on 30.09.2025 for Iron Ore Beneficiation Plant from
Chhattisgarh Environment Conservation Board under
Air (Prevention & Control of Pollution) Act, 1981 & Water
(Prevention & Control of Pollution) Act, 1974.

b)    Consent to Operate (CTO) obtained on 27.02.2026 for
Iron ore Beneficiation Plant at BIOM, Bacheli (4 MTPA)
from Chhattisgarh Environment Conservation Board
under Air (Prevention & Control of Pollution) Act, 1981 &

Water (Prevention & Control of Pollution) Act, 1974.

c) Consent to Operate (CTO) obtained on 27.02.2026 for
Pellet Plant, Nagarnar (2 MTPA) from Chhattisgarh
Environment Conservation Board under Air (Prevention
& Control of Pollution) Act, 1981 & Water (Prevention &
Control of Pollution) Act, 1974.

iii. BIOM, Kirandul Complex:

a)    Consent to Operate (CTO) obtained on 09.04.2025 for
multi-storied residential towers (Type-III, Type-V) from
Chhattisgarh Environment Conservation Board under Air
(Prevention & control of pollution) Act, 1981 and Water
(Prevention & Control of Pollution) Act, 1974.

b)    Validity extension of Environmental Clearance (EC)
obtained on 19.05.2025 for Screening Plant-III and
associated facilities (SP-III) project from State Level
Environment Impact Assessment Authority (SEIAA)
under the provision of the EIA Notification 2006.

c)    Renewal of Consent to Operate (CTO) obtained on

10.07.2025    for Railway siding cum dispatch facilities
(LTPA) and Mobile Crusher and screens (250TPH),
Kumaramarenga Railway Siding from Chhattisgarh
Environment Conservation Board under Air (Prevention
& control of pollution) Act, 1981 and Water (Prevention &
Control of Pollution) Act, 1974.

d) Renewal of Consent to operate (CTO) obtained on

12.08.2025    for Rapid Wagon Loading System (RWLS-
4000 TPH) from Chhattisgarh Environment Conservation
Board under Air (Prevention & control of pollution) Act,
1981 and Water (Prevention & Control of Pollution) Act,
1974.

e)    Renewal of Consent to Operate (CTO) obtained on

02.09.2025    for Deposit-11 (ROM Iron Ore 11.30 MTPA)
from Chhattisgarh Environment Conservation Board
under Air (Prevention & control of pollution) Act, 1981
and Water (Prevention & Control of Pollution) Act, 1974.

f)    Consent to Establish cum Consent to Operate obtained
on 23.09.2025 for Fine Ore Handling (FOH) System (4000
TPH) from Chhattisgarh Environment Conservation Board
under Air (Prevention & control of pollution) Act 1981 and
Water (Prevention & Control of Pollution) Act, 1974.

g)    Extension of Consent to operate (CTO) amendment
obtained on 03.10.2025 for residential towers for Type-
III, Type-IV, Type-V from Chhattisgarh Environment
Conservation Board under Air (Prevention & control of
pollution) Act, 1981 and Water (Prevention & Control of
Pollution) Act, 1974.

h)    Renewal of Authorisation for Project Hospital, Kirandul
Complex (89 bedded) obtained on 10.10.2025 under rule
10 of the Bio- Medical Waste Management Rules, 2016.

i)    Consent to Operate (CTO) obtained on 04.11.2025 for SP-
III (12 MTPA) and associated facilities from Chhattisgarh
Environment Conservation Board for augment of
Screening Plant under Air (Prevention & control of
pollution) Act, 1981 and Water (Prevention & Control of
Pollution) Act, 1974.

j)    Renewal of Consent to operate (CTO) obtained on

30.12.2025    for Deposit-14 & 14NMZ (ROM 10.50 MTPA)
from Chhattisgarh Environment Conservation Board
under Air (Prevention & control of pollution) Act, 1981
and Water (Prevention & Control of Pollution) Act, 1974.

k) Renewal of Consent to Operate (CTO) obtained on

20.03.2026    for multi-storied residential complex from
Chhattisgarh Environment Conservation Board under Air
(Prevention & control of pollution) Act, 1981 and Water
(Prevention & Control of Pollution) Act, 1974.

iv.    Donimalai Complex:

a)    Environmental Clearance was obtained on 22.01.2026
for Residential Towers at Donimalai from State Level
Environment Impact Assessment Authority (SEIAA),
Bangalore.

b)    Final Forest Clearance was obtained on 27.01.2026
for regularisation of 96.868 Ha of Forest land, outside
Mining Lease area at Donimalai (DIOM) from MoEF&CC,
GOI

c)    Forest Clearance was obtained from Under Secretary,
Forest, Ecology & Environment Dept, Govt. of Karnataka
on 16.10.2025 for regularisation of 16.50 Ha of Forest
land, outside Kumaraswamy Iron Ore Mine, Donimalai.

d)    Working permission was obtained on 31.10.2025 from
DCF, Ballari for prospecting operations in the forest land
to an extent of 281 Ha adjacent to Donimalai Iron Ore
Mine under Forest Conservation Act, 1980.

v.    Diamond Mining Project (DMP):

a)    Consent to Operate (CTO) obtained for Main Mining
Lease (MML) of DMP, Panna on 25.06.2025 from Madhya
Pradesh Pollution Control Board, Air (Prevention &
control of pollution) Act, 1981 and Water (Prevention &
Control of Pollution) Act, 1974.

b)    Consent to Operate (CTO) obtained for Supplementary
Mining Lease (SML) of DMP, Panna on 25.06.2025 from
Madhya Pradesh Pollution Control Board, Air (Prevention
& control of pollution) Act, 1981 and Water (Prevention &
Control of Pollution) Act, 1974.

vi.    NMDC-CMDC Limited:

a)    Stage-1 Forest Clearance was obtained on 23.06.2025
under section 2 (1) (ii) of the Van (Sanrakshan Evam
Samvardhan) Adhiniyam, 1980 for 682.2722 Ha (570.100
Ha inside lease and 112.1722 Ha outside lease) of forest
land for Bailadila Iron Ore Deposit-4 Mine in favour of
M/s NMDC-CMDC Limited (NCL).

b)    Ministry of Environment, Forest & Climate Change
(MoEF&CC), GoI, New Delhi has granted Environmental
Clearance on 09.08.2025 for Bailadila Iron Ore Mine,
Deposit-4 for 7.0 MTPA ROM Iron Ore and 6.41 MTPA
waste excavation located at Village Bhansi, Tehsil
Bacheli, Dantewada Distt, CG.

c)    State level Environmental Impact Assessment Authority,
Raipur, accorded Environment Clearance (EC) on
22.9.2025 for Screening Cum Beneficiation Plant (750
TPH of 4 lines each) along with 2000 TPH Downhill
Conveyor and Loading Facilities in Forest area- 100.077
Ha and Revenue land (Govt., Private and Bade Jhad
ke Jungle) -22.4658 Ha. located at outside the Mining
Lease area of Bailadila Iron Ore Deposit-4.

d)    Final Forest Clearance was obtained on 20.11.2025 from
MOEFCC for the diversion of 682.2722 Ha of forest land
for Deposit-4 of NMDC-CMDC Ltd under FC Act 1980.

e)    Consent to Establish (CTE) was obtained on 02.02.2026
(ROM 2.0 MTPA capacity) for Deposit-4, Bailadila Iron
Ore Mine at Village Bhansi, Dantewada Distt under Air
(Prevention & control of pollution) Act 1981 and Water
(Prevention & Control of Pollution) Act, 1974.

f)    Consent to Operate (CTO) was obtained on 20.02.2026
for Deposit-4 (ROM 2.0 MTPA capacity) for Deposit-4,
Bailadila Iron Ore Mine Air (Prevention & control of
pollution) Act 1981 and Water (Prevention & Control of
Pollution) Act, 1974.

g)    The Forest Department handed over 60.90 Ha of
land within the Mining Lease area on 26.02.2026 for
commencement of initial mining operations Deposit-4,
Bailadila Iron Ore Mine.

vii.    Progress of Annual Plan Meeting 2026-27
Proposals:

a) MOEFCC has granted TOR on 17.01.2026 for capacity
expansion of Deposit-11 ML from 11.3 to 14.50 MTPA
and waste excavation from 2.7 to 15.39 MTPA Forest
Clearance proposals for additional land and change in
land use for expansion projects are under process with
the concerned authorities.

b) Online proposal submitted through Parivesh on

11.05.2026 for obtaining of TOR for capacity expansion
Bailadila Iron Ore Mine, Bacheli Complex, Deposit-5 from
12 to 20 MTPA and waste excavation from 6 to 14 MTPA.

12.0    Environmental Initiatives

12.1    The Company has undertaken various
environmental initiatives during the financial
year 2025-26 towards sustainability and
ecological conservation.

1.    Plantation drives were carried out under the campaign
"Ek Ped Maa Ke Naam" with participation of employees,
their families and local communities at BIOM, Kirandul,
Bacheli, Donimalai and DMP, Panna projects.

2.    Fruit bearing tree were distributed to the local people
and nearby villages by BIOM, Bacheli, Kirandul and
Donimalai projects.

3.    Air pollution control measures such as water sprinkling
on haul roads, dust suppression systems, fog cannons
and covered conveyors being continued to maintain
ambient air quality within prescribed limits.

4.    Water management measures such as garland drains,
check dams and settling ponds are being maintained to
prevent contamination of natural water sources.

5.    Green belt development around mining areas, plants and
townships being continued.

12.2    Compliance to the conditions stipulated in
Environmental Clearance

a)    NMDC projects are operating in compliance with the
conditions stipulated in Environmental Clearances and
Consents.

b)    Half yearly compliances and environmental statement
are being submitted timely to MOEFCC and State
Pollution Control Boards.

c)    Returns under Batteries waste management rules and
Hazardous waste management rules are submitted
timely to state pollution control boards.

d)    Regular environmental monitoring of Micro-metrological
conditions, ambient air quality, water quality, noise
quality, fugitive dust, work zone noise, soil quality being
conducted seasonally through recognised consultants
of MOEFCC/CPCB and the reports are submitted to
regulatory authorities.

e)    Ground water levels and water quality monitoring
being conducted on seasonal basis and the reports are
submitted to the MOEFCC and SPCB.

f)    Continuous Ambient Air Quality Monitoring systems
were installed in every project, the data on real time
being displayed and the data being transferred to State
PCB.

13.0    PUBLIC DISCLOSURE OF SITE CLOSURE &
REHABILITATION RELATED ACTIVITIES

13.1    Measure to address or avoid significant
environmental or landscape impacts:

The environmental attributes, which are likely to be affected
in the region are land use, topography, water resources, soil,
air quality, socio-economic status, ecology and public health.

Measures to address some of the environmental aspects are
as follows:

(i)    Land use: Land reclamation and rehabilitation along
with the plantation will be done during the closure of the
mine.

(ii)    Topography: The mining would marginally affect the
overall view of the area, but will grossly modify the local
topography of the mined area at the end of mining. The
course of the present natural drainage system will not be
affected due to the present and future mining operations.
Several environmental protective measure like buttress
wall, garland drain, check dams, settling ponds etc.
are being constructed in and around the mining area
to arrest the foreign material for further restricting the
natural water to be polluted. Periodical maintenance are
being continued.

(iii)    Air Quality: The control measures adopted at all of our
mines to ensure the ambient Air Quality Standards are as
follows:

•    Proper maintenance of the heavy earth moving
machinery and vehicles.

•    Regular water sprinkling over the haul road as well
as over mine benches is being carried out by water
sprinklers of higher capacities.

•    Haul roads are graded regularly to clear
accumulation of loose materials & kept wet with
water sprinkling.

•    Wet drilling during primary & secondary drilling.

•    Use of sharp drill bits for drilling holes.

•    Blasting is carried out with optimum charge.

•    Avoiding blasting during high windy periods.

•    Avoiding excess filling of dumper & consequent
spillage on the road.

•    Dust suppression with mist fog systems have been
installed in crushing plants, downhill conveyor,
stockpiles, loading plant areas etc. Dust suppression
by atomized spray in primary crusher.

•    The dry fog dust suppression system shall be
continued at different transfer points during the
non-monsoon season.

•    Covering of conveyors & using under chutes at all
the transfer points.

•    The screening plant is housed in a huge GI sheet
enclosure, which acts as a good shield for the
prevention of dust particles escaping out of the
plant building.

•    Fog canons provided at Loading plant for
suppression of dust.

•    Fixed water sprinklers in the loading plant areas are
provided and maintained.

•    Covering of all stock piles.

•    Creating green belt around the perimeter of all the
plants.

•    Ensuring good housekeeping within plant premises.

•    Barrier plantation is being done at various places in
the townships areas such as along roadsides, parks
and colonies etc.

(iv) Water Quality: The following control measures to arrest

water pollution:

•    Every year before onset of the monsoon de-silting
of Check dams & Check bunds being done to arrest
the overflow of the silt into the Nallah.

•    Regular water sampling is being continued every
year during winter period, pre-monsoon period and
post monsoon period.

•    Rain water run-off from the waste dumps channelized
into nearby nallas through garland drains, treated in
check dams.

•    Buttress walls constructed and maintained to arrest
the silt load and thereby reducing the impact on the
water quality.

•    In order to mitigate the impact on local water bodies,
Buttress walls and garland drains constructed
around the dumps to prevent the flow of slime into
the natural water course.

•    Effluents generate from the service center and auto
workshop are being treated in effluent treatment
plant (ETP). The outflow/ treated water being used
for green belt generation.

(v)    Noise Levels: Higher noise levels may be generated

due to mining operations such as drilling, blasting and

excavation. The following are some protective measures:

•    Workers are not allowed to enter or work in to high
noise prone area without wearing earmuffs.

•    Personal Protective Equipment (PPEs) like earmuffs
and ear plugs are provided to all the employees and
workers operating in mines and plant areas.

•    Noise-proof & dust-proof air-conditioned cabins are
provided for all HEME.

•    To isolate employees from noise and dust, sound
proof cabins are installed in crushing and screening
plants.

•    Proper and periodical maintenance of HEM
machinery

•    Noise level during blasting is controlled by use of
NONEL, optimum charge of explosive and proper
stemming of blast holes.

•    The speed of dumpers is limited to a moderate
speed of 25 Kmph.

•    In order to mitigate the noise source, rubber linings
are provided to the vibrating screens, chutes and
feeders at raw material transfer points.

•    The transfer points all along the downhill/uphill
conveyor are provided with proper rubber lining to
reduce the noise generation.

(vi)    Energy Efficiency Measures:

1. Energy audits are conducted at regular intervals
across the Iron Ore projects of NMDC through

collaboration with expert agencies. The
recommendations arising from these audits are
reviewed and appropriately implemented to enhance
energy efficiency and operational performance.

2.    Minimum feed rates are maintained during the
downhill transportation of iron ore from the mines
to the screening plant to enable power generation,
which is utilized within the plant itself, resulting in
energy savings.

3.    The following measures are being adopted:

•    Solar Cell Sensor Switches and Solar Lights
are provided.

•    Solar heaters/solar devices are in use at
hospitals, canteens, buildings and parks.

•    Energy-efficient motors have been installed in
the Screening Plant.

•    Power generation through a downhill conveyor.

•    Leakages of oil, fuel or lubricants are plugged.
Used oil, batteries and cotton waste are
collected and sold through authorized
agencies.

•    Solar panels will be installed on the roof of
field offices, stores, OCSL plant structures
and conveyors depending on feasibility and
advancement of technology.

(vii) Ground Vibration:

The following measures are undertaken to limit
the Peak Particle Velocity (PPV) generated due to
blasting within the permissible limits.

•    Proper blast design;

•    Avoiding excess confinement of charges;

•    Nu m ber of blast holes per d ay shall be kept
one;

•    Proper stemming of holes shall always be
carried out;

•    Blasting is avoided during foggy weather and
adverse weather conditions.

•    Blasting operations are carried out only during
day time;

•    A safe distance of about 500-m from center
of blasting is maintained and during blasting,
other activities in the immediate vicinity are
temporarily suspended.

•    Further, the existing afforestation also helps in
reducing the noise and vibration level to some
extent.

13.2. Commitment to rehabilitate land to minimize
negative impacts and maximize benefits:

NMDC has an Environmental Policy with a commitment to
protect the environment. NMDC makes genuine efforts to
control pollution and meet statutory requirements. Further,
all the Iron Ore Mining Complexes have got separate
Integrated Management System (IMS) Policy (comprising
of ISO 9001:2015, ISO 14001:2015, 001:2015 ISO 45001:2018
and SA 8000:2014). The certifications to NMDC Ltd have
been accorded by the external agency "M/s DNV Business
Assurance India Private Limited" for the scope of "Mining,
Processing and supply of Iron Ore" for FY 2025-26.

All the operating Mining Leases are submitting the Mining
Plan along with Progressive Mine Closure Plan (PMCP) for
review and update in every five years period to Indian Bureau
of Mines (IBM) for obtaining approval. All the mining activities,
including reclamation and protective measures, are being
carried out in accordance with the approved Mining plan only.

Before closing of any of the Mines, we are abiding to submit
the Final Mine Closure Plan (FMCP) proposal in well advance
(Two years prior to the closure of mines) as per the extant
provisions of Mineral Conservation and Development Rules,
2017 for obtaining approval of IBM for carrying out final
reclamation measures in Mine. By complying with the FMCP,
NMDC will undertake all the reclamation and rehabilitation
activities to return the degraded land into its original state
as far as possible and if same is not feasible then convert the
same area which will be of economic value and will not create
any threat to the society.

NMDC always work to emerge as a Global Environment
Friendly Mining Organization committed to rehabilitate land
to minimize negative impacts and maximize benefits.

13.3.    Reporting on closure plan implementation and
site rehabilitation

All operating mining leases submit their respective Mining
Plans along with the Progressive Mine Closure Plans (PMCP)
to the Indian Bureau of Mines (IBM) for approval. These plans
are reviewed and updated every five years, in accordance
with the statutory requirements. Mining operations are

carried out in alignment with the approved PMCP, ensuring
that all prescribed protective and environmental safeguards
are effectively implemented.

In accordance with the provisions of the Mineral Conservation
and Development Rules, 2017, the Final Mine Closure Plan
(FMCP) is submitted at least two years prior to the proposed
closure of any mine. This plan outlines all necessary
reclamation and rehabilitation measures to restore the
degraded land to its original state as far as possible. Upon
approval, NMDC undertakes the execution of all activities as
detailed in the FMCP proposal.

Prior to initiating the final mine closure activities, advance
intimation is provided to the DGMS and Ministry of
Environment, Forest and Climate Change (MoEF&CC) as a
part of the compliance protocol.

As part of our environmental compliance, half-yearly reports
are submitted to MoEF&CC and an annual Environment
Statement is filed with the respective State Pollution Control
Board, detailing the environmental management measures
undertaken.

NMDC also submits the Annual Return to the Indian Bureau
of Mines, which includes detailed information on reclamation
and rehabilitation activities carried out during the previous
year. Additionally, drone survey data covering the mining
lease area and a 100-metre periphery are submitted, in line
with IBM guidelines.

13.4 Community involvement in closure planning

Our environmental policy is reinforced by the implementation
of ISO 14001 at our Bacheli, Kirandul, Donimalai and Panna
mines. The Environmental Management System (EMS) at
each project site undergoes third-party audits on yearly basis
to ensure compliance and continual improvement.

To support this framework, each of our project sites is
equipped with a specialized environmental management
team comprising domain experts. This reflects our strong
commitment to conserving natural resources, reducing
fugitive emissions, minimizing the environmental impact of
operations and fostering environmental awareness among
employees and the local community.

We maintain active collaborations with renowned institutions
such as the Indian Council for Forestry Research and
Education (ICFRE), IIT-ISM Dhanbad, NIT Raipur and VNIT
Nagpur. These partnerships help strengthen our technical
capabilities and provide expert guidance in enhancing our
environmental protection initiatives.

Our approach to environmental stewardship reflects our
broader commitment to sustainable mining practices. We
recognize the environmental and social impacts of our
operations and have developed a structured framework to
address them through interlinked focus areas. Each focus
area is supported by an internal management protocol,
shaped through rigorous peer review and in alignment with
evolving disclosure standards.

This framework is integral to our environmental charter
and closely aligned with our growth strategy, ensuring that
sustainability remains central to our long-term operational
vision.

13.5    Commitment to set aside sufficient funds to
cover closure and rehabilitation

The "Mine Closure Obligation Scheme" was voluntarily
introduced by NMDC during the financial year 2009-10.
Under this initiative, NMDC currently contributes INR 13 to 94
per tonne of ore excavated based on the individual project,
with the amount being deposited with LIC. These funds are
earmarked for implementing various components of the Mine
Closure Plan, including land reclamation, stabilization of waste
rock dumps, demolition of infrastructure and reforestation of
disturbed areas.

As of 31.03.2026, the total corpus accumulated with LIC
under this scheme stands at ' 1,469 crore.

13.6    Managerial responsibility for land closure and
rehabilitation

The responsibility for the implementation of the Conceptual
Mine Closure, Reclamation & Rehabilitation Management
Plan of all the Mines rests with the Management Team at
different Project of NMDC. Internal reporting requirements are
being outlined by the Management at different projects and
are delegated to the relevant staff.

All the closure activities, reclamation & rehabilitation plans
are being executed as per the approved Progressive Mine
Closure Plan.

Further, during the Final Mine Closure, all the closure activities
will be taken care of as per the approved Final Mine Closure
Plan.

14.0 SAFETY

Mine Safety - Activities

NMDC has its training centres in all its projects. They are
equipped with infrastructure as required under Mines
Vocational Training Rules. These centres cater to the needs

of basic training, refresher training and training for skilled
workers and also for those injured on duty.

Health & Safety continue to be our priority with employees
& contractual workmen at our Projects adhering to the SOPs
& Safety norms. NMDC appreciate that safety is a journey &
is committed to continually improve its performance and set
high standards.

In each mining project of NMDC sufficient number of
Workmen Inspectors are nominated/appointed for Mining
operations, Mechanical and Electrical installations as per
statutory requirements for carrying safety inspections.

Mine Level Tripartite Safety Committee Meetings (MLTSCM)
are being conducted once in a year at Project Level with
Senior Officials, Union Representatives and DGMS Officials in
which Safety Performance and its appraisal are made and the
recommendations are implemented.

Corporate Level Tripartite Safety Committee Meeting is
being held regularly once in a year at Head Office and the
recommendations are implemented.

NMDC is committed to maintaining the highest standards
of safety across all its mining operations. To ensure robust
safety governance, Safety Committees have been constituted
at each operating mine. Monthly Pit Safety Meetings are held
to discuss safety issues, review workplace conditions and
implement necessary corrective measures.

A comprehensive Safety Management Plan (SMP) has been
implemented across all mines. As part of this system, regular
Risk Assessment studies are undertaken to proactively
identify and mitigate potential hazards in the workplace.

To further enhance safety standards and ensure compliance
with evolving regulations, Internal Safety Audits have been
institutionalized. These are carried out at two levels:

•    Intra-project safety audits, conducted within each
project on a regular basis.

•    Inter-project safety audits, conducted every six months,
also enabling cross-learning and standardization of best
practices across projects.

In addition, External Safety Audits form an integral part of
our safety assurance process. These audits are conducted
in collaboration with expert agencies such as M/s ESCI,
providing an independent evaluation of our safety systems
and helping identify areas for improvement.

Safety training is a key focus area in NMDC's operational
philosophy. Extensive safety training programmes are

conducted regularly to instill safe work habits and create a
strong safety culture among employees. Behaviour-Based
Safety (BBS) training is also provided to promote awareness,
accountability and proactive safety behaviour at all levels of
the workforce.

The Severity Rate for the year 2025-26 is 469.70 and Injury
frequency rate is 4.13.

(Severity Rate = man-days lost per 100000 Man-days worked).
OHS Activities:

Occupational Health Services (OHS) have been provided with
adequate manpower and infrastructure and are functioning
in full-fledged manner at all the Projects, headed by Qualified
Doctors trained in OHS at Central Labour Institute, Mumbai.

Periodical Medical Examination under statute is carried out
regularly in all the projects.

NMDC strives to ensure that workers are not exposed to
occupational hazards that negatively affect their health.
NMDC also has well equipped hospitals with capable medical
teams available 24/7 to support the health & wellbeing of the
workers & the surrounding community.

Integrated Management System (IMS) Comprising of Quality
Management System (QMS) - ISO 9001:2015; Environmental
Management System (EMS) - ISO 14001:2015; Occupational
Health & Safety Management System (OHSMS)- ISO
45001:2018 & Social Accountability - SA 8000:2014
Certification Standards.

All the NMDC Production Projects viz. Bailadila Iron Ore
Mine, Kirandul Complex (BIOM, KC); Bailadila Iron Ore
Mine, Bacheli Complex (BIOM, BC); Donimalai Iron Ore
Mine & Kumaraswamy Iron Ore Mine, Donimalai Complex
(DIOM & KIOM), DMP Panna are accredited with Integrated
Management System (IMS).

15.0 IMPLEMENTATION OF INTEGRITY PACT:

With the objective of improving transparency in procurement,
NMDC had entered into MOU with Transparency International
India for implementation of Integrity Pact Programme during
September 2007. NMDC is the first Mining Navratna Company
which entered into Integrity Pact Programme in the year 2007.

Initially, the threshold value for procurement & contracts for
entering into the Integrity Pact have been fixed as follows: -

Contracts    : ' 50.00 crores

Procurements : ' 15.00 crores

To widen the coverage of procurements / contracts under
Integrity Pact, the threshold limits have been revised during
2009 as under:

Contracts    :    '    20.00 crores

Procurements : ' 10.00 crores

Subsequently, to cover majority of cases under Integrity Pact,
the threshold limits have been reduced to '1.00 crore for
procurements / contracts w.e.f. September 2018.

Contracts    :    '    1.00    crore

Procurements    :    '    1.00    crore

During 2025-26, 585 tenders valuing ' 9,692 Crores were
covered under this category.

15.1 Transparency in procurements

In order to enhance transparency in procurements &
increasing competitiveness, our Company adopted the
following modes of tendering:-

i) . e-Procurement:

All procurement tenders are processed through
e-Procurement mode at HO & Projects. Reverse
e-auctions are conducted for high value Equipments,
spares & consumables, wherever possible, by declaring
upfront in the tender document.

ii) . Government e-Marketplace (GeM) Portal:

Procurement through GeM portal as per the guidelines
of GOI. Total 2,345 orders valuing ' 1,013 crores of orders
were issued through GeM portal during the year 2025¬
26, against the targeted value of ' 550 Crores.

iii) . Central Public Procurement (CPP) Portal:

Materials Management department tenders which are
floated outside GeM portal are publishing on the CPP
portal. All the bidders approaching through CPP portal
for entering in NMDC are invited for registration with
NMDC or conducting trial with NMDC for ensuring their
quality product.

iv) . New Initiatives for System Improvement

a)    Bonus Clause: Incorporated in all HEMM tenders.

b)    Dashboard for FLM: Implemented for FLM - To
monitor live status of file & Delay analysis

c)    Integration of Weighbridges with SAP: Implemented
at Projects

d)    Tool for uploading Rate Contract Price list (SAP):
Implemented in SAP

e)    Tender Enquiry Register (SAP): Implemented at all
Projects

f)    Gate Entry process for incoming consignments
implemented at all projects (SAP): Implemented at
all Projects

g)    Returnable & non-returnable gate pass entry
process implemented at all projects (SAP):
Implemented at all Projects

h)    MSE Payment Status Report (SAP): Implemented in
SAP

i)    CEPA- BCD & Social Welfare surcharge have been
considered for evaluation for the first time. Total
duty benefit of '1.62 Cr. - Benefit availed

v) . NMDC e-Procurement portal (SRM):

Materials Management department is utilizing the
NMDC e-Procurement portal to carryout procurement
activities in e-Procurement mode. The tenders which
are processed outside GeM will be done through SRM
portal. Open Tender Enquiry - OTE has been developed
and enabled. Global Tender Enquiry - GTE has been
developed and enabled (With multi-currency option)

vi) . Payment through Trade Receivable Discounting System

(TReDS):

NMDC & its Subsidiaries have been completed
registration on all five TReDS platforms (i.e. RXIL,
Invoicemart (A.TReDS Ltd), M1Exchange, C2TReDS &
DTX KredX) platforms to release the payments of all
MSME firms against their acceptance and confirmation.

NMDC has conducted various vendor meets with
MSME firms in association with MSME, Hyderabad and
instructed all MSME firms to register any one of TReDS
portal to process their payment through TReDS platform
and NMDC has released payment through TReDS to
some MSMEs.

16.0 NMDC'S R&D CENTRE AT HYDERABAD

NMDC's R&D Centre is dedicated to undertaking product and
technology development projects related to ores, minerals
and iron & steel making, with the objective of sustaining
excellence in process performance and operational efficiency.

The R&D Centre has made significant contributions not
only to NMDC's operational projects but also to the broader

Indian mining and metallurgical industries. In recognition
of its research capabilities and technological contributions,
the Centre is recognized by the Department of Scientific and
Industrial Research (DSIR), Government of India.

The Centre undertakes research and consultancy activities
in the areas of mineral processing, flowsheet development,
mineralogical investigations, bulk material handling and
storage, metallurgical studies of iron ore and coal and
advanced chemical analysis. It has emerged as a pioneer in
the field of mineral beneficiation and continues to focus on the
development of sustainable dry beneficiation technologies for
various ores and minerals.

The R&D Centre is equipped with state-of-the-art laboratory
and pilot-scale facilities for characterization and analysis
of minerals, coal, metals, non-metals and critical minerals,
thereby supporting innovation, process optimization and
technology development across the mineral value chain. The
centre is also strengthening and incorporating facilities for
analysis and processing of critical minerals in line with the
national focus on mineral security and strategic resource
development.

For further details, reference may be made to Annexure-II
attached to the Board's report.

17.0 IMPLEMENTATION OF OFFICIAL
LANGUAGE POLICY

NMDC made several meaningful efforts during the year
2025-26 to effectively ensure the implementation of the
Official Language Policy of the Government of India at its
headquarters, projects and units. Some of the key initiatives
are as follows:

•    Hindi workshops were organized every quarter at the
headquarters as well as in all projects.

•    Meetings of the Official Language Implementation
Committee were held every quarter.

•    To promote the use of the official language at the
Hyderabad city level, an inter PSU Hindi Elocution
Competition was organized on 22.07.2025, for employees
of all PSUs located in Hyderabad.

•    A Hindi workshop for all PSUs was organized on
20.02.2026, under the aegis of the Town Official
Language Implementation Committee (Undertakings),
Hyderabad-Secunderabad.

•    Hindi Month was celebrated at the Corporate Office
as well as in all projects and units. On this occasion,
messages from the Chairman-cum-Managing Director

were published in Hindi newspapers circulated from
Hyderabad and were also shared on social media
platforms. Various competitions were organized and
prizes were distributed. To maintain continuity in the
use of the Official Language Hindi in official work,
monthly Hindi competitions were organized in addition
to the Hindi Fortnight and prizes were awarded as
encouragement.

•    Official Language house journal of Corporate Office
"Khanij Bharati" was published regularly.

•    Hindi/Bilingual/Trilingual magazines such as Baila
Samachar, Bacheli Samachar, Doni Samachar, Hira
Samachar, etc., were also published from the production
projects. In addition, an annual Official Language
magazine titled "Sarjana" was published from Kirandul
Complex.

•    All India Conference of Official Language Officers was
organized by NMDC Limited, Hyderabad, under the
aegis of the Ministry of Steel on 23.01.2026. Senior
officials from the Ministry of Steel, its subordinate PSUs,
member offices of TOLIC (Undertakings), Hyderabad-
Secunderabad, as well as Senior officers, Official
Language Officers and employees from all projects and
regional offices of NMDC participated in the conference.

•    At the Hindi Day celebration organized by the Department
of Official Language, Ministry of Home Affairs, on
14.09.2025 and 15.09.2025 in Gandhinagar (Gujarat),
NMDC Limited was honoured with the Rajbhasha Kirti
(First) Award.

•    Additionally, NMDC Limited's Diamond Mining Project,
Panna, was awarded under the "Commendable Category"
for commendably fulfilling the responsibilities of the
Town Official Language Implementation Committee,
Panna.

•    NMDC Limited Headquarters received the Rajbhasha
Shield -(First) Award in the category of medium-sized
PSUs from the Town Official Language Implementation
Committee (PSUs), Hyderabad-Secunderabad on
29.05.2025.

•    The Corporate Office's official language house
journal "Khanij Bharati" also received the First Prize
in the e-magazine category from the Town Official
Language Implementation Secunderabad Committee
(Undertakings), Hyderabad.

•    "Khanij Bharati" was further honored with the First Prize
in the Hindi Magazine Category for 2025 by PRCI and the
Gold Award for 2025 by PRSI.

18.0 DETAILS REQUIRED TO BE FURNISHED IN
TERMS OF MICRO, SMALL AND MEDIUM
ENTERPRISES DEVELOPMENT ACT, 2006
(MSMED).

The Company has taken the following steps to procure
goods and services from MSE firms, MSE SC/ST & Women
entrepreneurs. NMDC has conducted exclusive MSE SC / ST
vendor meets at its projects in Chhattisgarh and Karnataka
and also at Hyderabad to understand the tender process and
our requirement.

NMDC has participated in the various vendor meets organised
by Ministry of Micro, Small & Medium Enterprises in
association with FICCI/DICCI. Besides NMDC has organised
15 Nos. Vendor Meets / programmes at various places in
total during 2025-26. NMDC interacted with prospective
MSE entrepreneurs encouraging them for supply of goods for
various plants at Bailadila, Donimalai & Panna.

For encouraging MSE SC/ST firms, exclusive trials are being
conducted and after successful trials the firms are given
tender enquiry in Limited Tender. Moreover, against the
qualification criteria in tenders we have not received any
complaint / request with regard to relaxing tender terms &
conditions.

The procurement from MSE firms during FY 2025-26, details
are as below:

Timely payments were made to MSE vendors during the
financial year 2025-26 in compliance with the MSMED Act,
2006 i.e. within 45 days from the appointed day.

All above details are updated on Samadhaan Portal on
monthly basis.

19.0    HUMAN RESOURCE

The employee strength of NMDC as on 31.03.2026 was
5,730.

19.1    Employee-Employer relations

The overall industrial relations situation was peaceful
and cordial during the year. There was no strike/lock

against the Company's polices affecting production and
productivity.

19.2    HR Productivity

NMDC achieved iron ore production of 53.158 MNT during
the financial year 2025-26, registering an HR productivity of
5,957 tonnes per employee based on the 12-month average of
regular and contractual personnel.

19.3    Scheduled Castes & Scheduled Tribes:

55 persons belonging to Scheduled Castes and 39 persons
belonging to Scheduled Tribes were appointed during the
year 2025-26 against 271 posts filled in direct recruitment.

19.4    Strength of SCs and STs as on 31.03.2026

The manpower strength of NMDC as on 31.03.2026 was 5,730.
Other details are as under:

19.5    Particulars of employees drawing remuneration
of ' 8.5 lakhs per month or ' 1.02 crores per
annum under Section 197 of the Companies Act,

2013    read with Companies (Appointment and
remuneration of Managerial Personnel) Rules,

2014    as amended: Nil

19.6    Staff Welfare activities

Adequate facilities for education, health, accommodation,

creche across all projects and recreation were in place.

Various Bipartite fora have been functioning satisfactorily.

19.7    Promotion of Sports:

1.    NMDC organized Inter-Project Tournament (IPT)
sports events for employees during the year 2025-26
to promote physical fitness, team spirit and healthy
industrial relations.

2.    Sports activities at Project/U nit/Regional Office/
Corporate Office levels were organized for employees
and their wards to encourage participation in sports and
recreational welfare activities.

19.8    Statement on Prevention of Sexual Harassment
of Women at Workplace:

NMDC Limited is committed of providing a safe, secure and
respectful work environment for all employees, with special
emphasis on ensuring the dignity and protection of women
at the workplace. The Company strictly complies with the
provisions of the Sexual Harassment of Women at Workplace
(Prevention, Prohibition and Redressal) Act, 2013.

In accordance with the Act, Internal Committees (ICs) have
been constituted at all establishments and Projects of NMDC.
These committees are empowered to receive and redress
complaints related to sexual harassment in a timely and
confidential manner.

Awareness programs and sensitization workshops have
been conducted during the year to educate employees
about appropriate workplace conduct and the mechanisms
available for redressal.

During the Financial Year 2025-26:

a.    No. of complaints of sexual harassment at the start of the
year: 02

b.    No. of complaints of sexual harassment received during
the year: 01

c.    No. of complaints of sexual harassment disposed of
during the year: 02

d.    No. of complaints of sexual harassment cases pending
for more than ninety days: 01

NMDC remains fully committed to fostering a work culture
that is free from harassment, promotes gender equality and
upholds the highest standards of integrity and respect.

19.9    Statement on Compliance with the Maternity:

NMDC Limited is committed to upholding the rights and
welfare of women employees in accordance with the
provisions of the Maternity Benefit Act, 1961. The Company
ensures that all eligible women employees are provided
maternity benefits as prescribed under the Act, including
paid maternity leave, nursing breaks and protection against
dismissal during maternity leave.

During the financial year, NMDC has strictly adhered
to all statutory provisions of the Maternity Benefit Act,
including amendments thereof. Awareness sessions and
communication regarding entitlements under the Act have
also been conducted for employees. Suitable facilities and

a supportive work environment are provided to ensure the
health, dignity and well-being of women employees during
and after maternity.

The Company remains committed to promoting gender equity
and supporting a family-friendly workplace.

20.0 TRAINING & DEVELOPMENT

During the financial year 2025-26, Corporate HRD organized
the following programmes:

a)    External Training: Employees were sent for various
Training Programmes, Seminars, etc. which were
organized by various external organizations, institutes
and professional bodies.

b)    In-Company Training: Curated Programmes were
conducted by engaging reputed organizations, Trainers,
institutes and professional bodies on the following
subjects.

•    Data Analytics Toolkit - Practical training on Excel
and Power BI

•    Building a Professional Image: Personal Growth,
Grooming and Etiquette

•    Happiness and wellbeing: Mind Fitness and Life
Skills experience programme

•    Disciplinary Rules & Procedures including framing
of charge sheet

•    Contracts Management, Preventive Vigilance

•    Vision 2030: Future Strategy and Growth Enablers

•    Latest Developments in Labour Laws and New
Labour Codes

•    Programme on Reservation Policy for SC/ST/OBC/
PWD/EX.SM & EWS in PSEs

c)    Leadership Development Plan - Succession Planning
and Leadership Development (SPLDP)

At NMDC Limited, leadership continuity and talent
sustainability remain integral to the organization's long¬
term growth strategy. During FY 2025-26, focused efforts
were undertaken to strengthen succession planning
mechanisms and build a robust leadership pipeline
aligned with the Company's strategic and operational
objectives.

d)    Succession Planning Framework

The Company continued to institutionalize a structured
succession planning framework aimed at identifying,
nurturing and preparing high-potential executives for
key leadership and critical operational positions across
Corporate Office, Projects and Production Units.

The framework emphasizes:

•    Identification of critical roles and competency
mapping;

•    Assessment of leadership potential and readiness
levels;

•    Development of internal talent pools for strategic
positions;

•    Career progression planning through structured
interventions; and

•    Ensuring continuity in leadership and operational
excellence.

Periodic reviews were conducted at various organizational
levels to assess succession readiness, talent availability
and future manpower requirements, particularly in core
mining, technical, finance, HR, projects and strategic
functions.

e)    Leadership Development Initiatives

Recognizing the evolving business environment and
technological transformation in the mining and steel
sectors, the Company undertook multiple leadership
development initiatives during the year to equip
executives with future-ready capabilities.

Key interventions included:

•    Executive Development Programmes (EDPs) /
Management Development Programmes (MDPs)
through premier management institutes;

•    Leadership competency enhancement programmes
focusing on strategic thinking, decision-making,
innovation, digital transformation and change
management;

•    Cross-functional exposure and job rotation
initiatives to broaden managerial capabilities;

•    Mentoring and coaching support for high-potential
executives;

•    Capacity-building programmes on emerging
technologies, sustainability, ESG and AI-enabled
business transformation;

•    Participation of senior executives in national and
international leadership forums, seminars and
industry conferences.

Special emphasis was placed on developing next-
generation leaders capable of driving organizational
transformation, operational efficiency, stakeholder
engagement and sustainable growth.

f)    Talent Management and Future Readiness

The Company continued to align its talent development
initiatives with business expansion plans, digital
initiatives and succession requirements. Structured
learning pathways, competency-based development
and performance-linked growth opportunities were
strengthened to enhance employee engagement and
leadership readiness.

Efforts were also directed towards fostering a culture
of continuous learning, innovation, accountability and
collaborative leadership to support NMDC's vision of
becoming a globally competitive mining organization.
Through these initiatives, NMDC remains committed
to building a resilient leadership pipeline and ensuring
sustained organizational excellence in the years ahead.

g)    Foreign Visits

In terms of the directives of DPE, Government of India,
no foreign trainings were organized. However, Corporate
HRD facilitated for participation in various international
events as below:

•    Mining World Congress-2025 at Moscow, Russia

•    International Mining & Resource Conference
(IMARC) 2025.

•    Conference on Iron Ore & Coking Coal at Singapore.

•    The World Expo - 2025 at Osaka, Japan.

•    The Mining Show-2025 at Dubai

•    Future Mineral Forum at Riyadh, Saudi Arabia

•    Mining Indaba-2026 at Cape Town.

•    Advanced Global Techno Management
Programme-2025 by ASCI in Europe

•    Advanced Leadership Programme by IPE in Europe

•    Advanced Strategic Innovation Management
Programme for Metal and Mining Industry by ASCI
in Europe

•    Advanced Global Leadership Programme by SCOPE
in Europe

•    Jagruti - Mind Fitness & Life Skills Leadership
Experience Programme in Malaysia

h) Targets under PM internship scheme of Ministry of
Corporate Affairs:

The Prime Minister Internship Scheme (PMIS) was
implemented during FY 2025-26 across the production
projects of NMDC Ltd. in accordance with the guidelines
issued by the Ministry of Corporate Affairs, Government
of India. Under Round-II of the Scheme, a total of 568
internship opportunities were offered and 11 interns
joined NMDC during FY 2025-26.

21.0 Corporate Social Responsibility

As a socially responsible and environmentally conscious
Corporate Citizen, NMDC remains steadfast in its commitment
to fostering inclusive growth, sustainable development
and community empowerment in the areas surrounding its
operations. Guided by the philosophy of creating shared
value and ensuring that the benefits of economic progress
reach the most vulnerable sections of society, the Company
continues to implement transformative CSR interventions
across education, healthcare, nutrition, skill development,
rural infrastructure, livelihood enhancement and community
welfare.

Over the years, NMDC's CSR initiatives have evolved beyond
conventional community development programmes into long¬
term, high-impact interventions aimed at creating sustainable
socio-economic outcomes. Through strategic investments in
human capital, community infrastructure, healthcare access
and livelihood generation, the Company strives to improve
the quality of life of local communities, particularly tribal
populations, women, children, youth and other disadvantaged
sections of society. These initiatives are aligned with national
development priorities, the provisions of the Companies Act,
2013 and the United Nations Sustainable Development Goals
(SDGs).

During FY 2025-26, NMDC continued to reinforce its role as a
catalyst for social transformation by undertaking a wide range
of impactful programmes designed to promote educational
advancement, strengthen healthcare delivery, enhance

employability through skill development, improve rural
infrastructure and create sustainable livelihood opportunities.

21.1 Flagship CSR Programmes

A. Education

i)    NMDC DAV Public School, Nagarnar

NMDC continued to support and operate the
residential school for tribal children at Nagarnar,
Bastar District, Chhattisgarh. Established during
FY 2010-11, the school presently provides quality
education to around 431 students from Classes I to
XII, thereby contributing significantly to educational
advancement and human capital development in
the region.

ii)    Industrial Training Institutes (ITIs), Nagarnar and
Bhansi

The Company continued to operate Industrial
Training Institutes at Nagarnar and Bhansi in Bastar
and Dantewada districts of Chhattisgarh, imparting
industry-relevant vocational and technical
education to local youth. The annual intake capacity
of the institutes is 36 trainees at Nagarnar and 128
trainees at Bhansi.

In a significant step towards expanding
employability-oriented training opportunities, the
Board approved the introduction of the Computer
Operator and Programming Assistant (COPA) trade
at NMDC ITI, Bhansi. The required infrastructure
and support facilities are being established and the
affiliation process is currently underway. The course
is expected to commence shortly.

iii)    Mid-Day Meal Programme

The Company continued its support to the Mid-Day
Meal Programme in the vicinity of its Donimalai
operations, benefiting approximately 8,000 students
across 38 Government schools located within a
25-kilometre radius. The initiative contributes to
improved nutritional outcomes, enhanced school
attendance and better learning outcomes among
children.

iv)    NMDC Balika Shiksha Sahayog Yojana

Under this flagship scholarship programme,
financial assistance is extended to girl students
from Bastar Division in Chhattisgarh and Donimalai
in Karnataka to encourage continuation of
education beyond the elementary level. The scheme

is pivoted to the cause of promoting girls' education
and reducing educational discontinuity among
economically disadvantaged families.

v)    NMDC Polytechnic College, Dantewada

NMDC continued to support the operation of
the Polytechnic College at Dantewada, offering
diploma programmes in Mechanical and Electrical
Engineering with an annual intake capacity of 126
students. The institution serves as an important
platform for developing a skilled technical workforce
and enhancing employability among local youth.

vi)    Balika Shiksha Yojana - Nursing Education
Programme

One of the Company's most impactful educational
initiatives, the Balika Shiksha Yojana sponsors tribal
girl students from Bastar Division for professional
nursing education. During FY 2025-26, the annual
intake under the programme was enhanced from
85 to 200 beneficiaries, reflecting the Company's
commitment to strengthening healthcare capacity
in the region.

Since its inception in FY 2011-12, the programme
has supported 760 students, of whom 317 have
successfully completed their education and secured
gainful employment. The initiative has contributed
significantly towards creating a skilled healthcare
workforce while generating sustainable livelihood
opportunities for tribal women.

vii)    Medical Technology Education Programme

During FY 2025-26, NMDC launched another
flagship educational initiative through sponsorship
of tribal students pursuing B.Sc. programmes in
Allied Health Sciences at Apollo University, Chittoor.
Under the programme, 90 tribal students from
Bastar and Dantewada districts were sponsored to
pursue professional medical technology courses.
The initiative aims to create career opportunities for
tribal youth in emerging healthcare sectors and also
bridge the gap in healthcare manpower availability.

viii)    Support to Residential Educational Institutions

NMDC continued to provide operational support
to several transformative educational institutions,
including:

• Aastha Gurukul, a residential school with a
capacity of 1,200 students catering to orphaned

children, Scheduled Castes, Scheduled Tribes
and economically weaker sections of society;

•    Saksham-I and Saksham-II, fully residential
institutions exclusively serving specially-abled
children, with a combined capacity of 200
students; and

•    Choo Lo Aasmaan, an integrated coaching
programme for engineering and medical
entrance examinations, coupled with regular
schooling for students from Classes IX to XII,
benefiting 160 students annually.

These institutions continue to provide inclusive
and equitable educational opportunities to children
from vulnerable sections of society.

B.    Healthcare, Nutrition, Water and Sanitation

i)    Community Healthcare Services

NMDC continued to provide free healthcare
services to local communities through its Project
hospitals at Kirandul, Bacheli and Donimalai, as
well as through the CSR Health Centre at Nagarnar.
The Company also operated Hospital-on-Wheels
mobile medical units and organized regular medical
camps in remote and underserved villages, thereby
improving access to quality healthcare services and
strengthening preventive healthcare outreach.

ii)    Blindness-Free Ballari Initiative

The Company continued its flagship eye-care
programme aimed at eliminating preventable
blindness in Ballari District through comprehensive
eye screening, free cataract surgeries, vision
correction services and community awareness
programmes. The initiative has significantly
enhanced access to quality eye care services for
economically weaker sections of society.

C.    Infrastructure and Rural Development

NMDC undertook various infrastructure development
works in villages surrounding its operational areas,
including construction of cement concrete roads,
drainage systems, culverts, community centres,
boundary walls and other civic amenities. These
interventions have contributed to improved connectivity,
sanitation, public infrastructure and overall quality of life
for local communities.

D.    Skill Development and Livelihood Promotion

i) Skill Development Programme for Tribal Youth

The Company has sponsored advanced skill
development programmes for tribal youth from
Bastar Division through the Central Institute
of Petrochemicals Engineering & Technology
(CIPET), Hyderabad. The initiative is aimed at
enhancing employability, strengthening technical
competencies and creating sustainable livelihood
opportunities for local youth through industry-
oriented training and placement support.

21.2    Major CSR Initiatives approved/commenced
during the year

In addition to its ongoing flagship programmes, NMDC
approved and initiated several new CSR interventions during
FY 2025-26, including:

•    Infrastructure development projects in Ballari District
with an approved outlay of '2.05 crore;

•    Financial assistance of '21.46 crore for skill development
centres across Bastar Division;

•    Flood relief and rehabilitation measures in Dantewada
with an approved outlay of '30.00 lakh;

•    Development and rejuvenation works at Tolankere Lake
and infrastructure augmentation of the Hubballi Sports
Complex.

These initiatives reaffirm NMDC's commitment to addressing
emerging community needs and supporting holistic regional
development through targeted and sustainable interventions.

21.3    Reasons for Unspent CSR Amount during FY
2025-26

The Company's obligation for spending under CSR for the
financial year 2025-26 in accordance with the provisions of
Section 135 of the Companies Act, 2013, was '166.30 crore,

i.e. two per cent of the average net profits of the preceding
three financial years.

During the year, the Board approved CSR projects and
programmes with an aggregate value exceeding the aforesaid
CSR obligation. A substantial proportion of these projects
have been categorized as ongoing projects in accordance
with the Companies (Corporate Social Responsibility Policy)
Rules, 2014. These projects involve multi-year implementation
schedules and are designed to deliver long-term and
sustainable developmental outcomes.

Accordingly, the corresponding expenditure will be incurred
progressively over the approved implementation period,
extending up to the next three financial years. The unspent
CSR amount pertains to such ongoing projects and shall be

utilized in accordance with the approved project timelines
and applicable statutory provisions.

Through its sustained CSR efforts, NMDC remains committed
to creating enduring social value, empowering communities
and contributing meaningfully to the nation's socio-economic
development agenda while upholding the highest standards
of corporate citizenship.

22.0 VIGILANCE

A. The Vigilance department has undertaken several
initiatives during the fiscal year 2025-26, with a particular
focus on enhancing "Preventive Vigilance." This includes
conducting Preventive Checks in key areas, addressing
complaints with appropriate corrective measures and
implementing system improvements. Additionally,
regular training sessions on vigilance matters were
organized for employees by the Vigilance functionaries
at the Corporate Office as well as across various project
locations. Major activities of the department during the
period has been summarised as under:

i) Training & Sensitization: Various sensitizing

programs were conducted for awareness on

vigilance matters for the employees of the

Corporation like:

•    Interactive Session on Ethical Vigilance,
Investigation and CTE Examination at HO,
Hyderabad by Shri Himanshu Vishnoi,
Corporate Coach at DIOM, Donimalai.

•    Interactive Session on Ethical Vigilance,
Investigation and CTE Examination at HO,
Hyderabad by Shri Suresh Madhavan, CGM
(ONGC), EX CVO MSTC.

•    Training Sessions on Preventive Vigilance in
Procurement, Statutory guidelines related to
MSEs, MII, & Concurrent application by Shri.
Amitabh Datta, IES (Retd.).

•    Training Session on Charge sheet drafting and
Disciplinary Proceedings by Shri Arun Gour, JS
(Retd).

•    Training Program on Vigilance aspect in
noting and drafting by Shri Uday Shanker
Chattopadhyay, Former Dy. Sec & Ex. Faculty
ISTM, DoPT.

•    Training Program on Procurement by Shri.
Amal Das, Former CMD/ Director(F)/ Director
(Pers)/ NCL, Former President, ICMAI.

•    Training Program on Investigation & Reporting,
Framing of Charge Sheet and Inquiries by Shri
Rajiv Verma, Ex-Director CVC, Advisor to CVC.

•    Capacity Building Program on Labour
compliance and promoting Gender
Sensitization for Project Officials at Bacheli
by Smt. Dr. Praveen Kumari Singh, Advisor,
Ministry of Labour, GoI at HO, NMDC and BIOM
Bacheli.

•    Training Sessions on POSH Act & gender
sensitization by Dr. Praveen Kumari Singh,
Advisor, Ministry of Labour, GoI at HO, NMDC
and NSL.

•    Various training sessions for Project Officials
on Vigilance awareness and its importance in
the Organization by Vigilance Officers posted
at projects of NMDC.

ii)    Quality Compliance: The Vigilance Department
obtained ISO 9001:2015 certification for its Quality
Management System (QMS), ensuring routine
surveillance audits and quality certification until
26.03.2029.

iii)    Preventive Checks: Throughout the fiscal year
2025-26, Vigilance department conducted a total
of 358 Preventive Checks, comprising 124 surprise
checks, 109 regular inspections, 100 file studies, 17
audit para inspections and 08 CTE type inspections
across all projects and the Head Office.

iv)    Complaint Handling: A total of 288 complaints were
received through various sources during the period
which were handled/ disposed of logically as per
CVC guidelines / complaint handling procedure.

v)    E-Platform: Efforts were made    to ensure

transparency in transactions through the company's
website, including details of contracts and bill
payments. Vigilance also promoted E-Procurement
platforms for tendering processes.

vi)    Integrity Pact: NMDC has adopted the Integrity
Pact since November 2007. As per the suggestions
given by Vigilance Department, the threshold value
has been decreased to ' 1.0 Crore w.e.f. 07.09.2018.

vii) Rotation of Vigilance officials: To ensure
transparency in vigilance works, necessary action
has been taken for rotation / repatriation of

vigilance officers and for inducting of new officers
in Vigilance department in compliance with CVC
guidelines.

viii)    Rotational transfer of officers in Sensitive Post:

Identification of Sensitive Posts has been carried
out by HR department. The rotational transfer of
officers of other departments was also effected in
compliance of CVC guidelines.

ix)    Quarterly Review Meetings: The Quarterly Review-
cum-Coordination meeting of the Vigilance
department with CVO for the FY 2025-26 were held
in May-2025, September-2025, December-2025 &
April-2026 and the said meetings were attended by
all the Vigilance Officers in physical & virtual mode.
Project-wise progress of vigilance activities were
reviewed. All VOs exchanged their views and gave
valuable suggestions.

x)    Structured Meetings: Quarterly Structured
Meetings of the Vigilance department, chaired
with the CMD, NMDC, were held on 17.10.2025
and 16.03.2026 to discuss vigilance activities and
address pending issues for compliance. Review
of Vigilance work was also done by the Board on
14.11.2025.

xi)    Preventive Vigilance Training: In pursuance of
CVC directions / guidelines, training programs on
Preventive Vigilance is being arranged at NMDC in
compliance of CVC guidelines, covering Induction
level and mid-career level executives of HO, ROs
and all Projects.

xii)    Vigilance Manual: To enhance transparency
and ensure the smooth functioning of Vigilance
workings, NMDC Vigilance Manual is in place,
which serves as a comprehensive guide for internal
use in the organization, outlining key guidelines
and procedures laid down by the Central Vigilance
Commission.

Additionally, 5^th Edition of in-house bulletin Subodh
have been released on 26.01.2026, which included
Vigilance-related articles, CVC circulars and
guidelines for procurement awareness.

xiii)    Online Vigilance Portal: NMDC Ltd. has been
working on the online vigilance portal, which
facilitates almost all major day to day activities of
the department.

B.    System improvements suggested for Implementation
during 2025-26:

A total of 85 systemic improvement were suggested for
compliance and implementation during FY 2025-26,
out of which Action Taken Report for 27 cases have
been received. Out of 85, 9 system improvements are
unique or major initiatives. Among them, 3 have been
implemented, while the remaining are currently in
progress.

C.    VIGILANCE AWARENESS WEEK-2025:

A comprehensive vigilance campaign was conducted
from 18.08.2025 to 17.11.2025, culminating in Vigilance
Awareness Week observed from 27.10.2025 to 02.11.2025.
The initiatives are aimed to reinforce and invoke the
theme of the Vigilance Awareness Week-2025

"Udidl:    WT    - Vigilance: Our Shared

Responsibility" within the organization including
its stakeholders. This initiative included a mix of
preventive vigilance and outreach activities to promote
transparency, ethical behaviour and awareness among
employees, stakeholders and the broader community.
All projects, including the head office & Regional Offices
have actively participated in this 3-month campaign &
Vigilance Awareness Week, demonstrating a shared
commitment to ethical practices and anti-corruption
measures. The following sections outline the key
activities under preventive vigilance and outreach efforts
conducted during the campaign.

D.    Preventive Vigilance Activities:

i.    Complaint Resolution: All complaints were
addressed as per CVC directives.

ii.    Pledge Ceremony: Employees and more than 550
students from 6 schools & colleges took integrity
pledges.

iii.    Seminars and Workshops: 30 training programs
were conducted on topics emphasized by CVC viz
CDA Rules, Framing of Charge-sheets, Investigation
& Reports, CTE type examination, Public
Procurement, Ethical Leadership, Cyber Security,
Recent Trends in Public Procurement, Vigilance
Perspective etc. benefiting 897 officers, Junior
executives & Workmen.

iv.    iGoT Karmayogi Training: The courses available
on iGOT Karmayogi portal-covering themes such
as Ethics, Conduct Rules, Integrity, Attitudinal

Change, Cyber Hygiene and Public Procurement—
were identified and employees across all projects
and the Head Office were encouraged to complete
these courses. A total of 2617 learning sessions
were completed in iGOT Karmayogi portal by the
executives of different levels in NMDC.

v.    Focused Activities at Schools & Colleges: The

week included special programs such as interactive
Sessions, competitions in essay writing, poster
making, Elocution, Painting, Storytelling, Slogan
writing & Skit etc. on topics of ethical importance
in schools and colleges across Projects and Head
Office. A total of 5964 students & faculty members
participated in the events conducted.

vi.    Quizzes were conducted at various Projects & Head
Office on vigilance matters during the week.

E. Outreach Activities

i.    Gram Sabhas: NMDC organized four meetings with
about more than 240 villagers at Bacheli Complex,
Kirandul Complex and Panna to discuss vigilance &
transparency.

ii.    Street Plays: The artists performed two skits
involving 75 students to spread anti-corruption
messages.

iii.    Rallies/Walkathons: Walkathons were organised
on 31.10.2025 in honour of Sardar Patel's birth
anniversary, with community and employee
participation.

iv.    Competitions for employees, schools & Colleges:

Vigilance department conducted Painting, Essay
writing, Poster making, Quizzes, Slogan writing and
Elocution contests for employees, stakeholder of
NMDC & students from schools/ colleges.

A total of 2464 nos. of posters were made by
students of various colleges and stakeholders of
NMDC including the employees and their family
members.

Overall, more than 5900 students participated in
ethics-based activities like essay writing, poster¬
making and elocution.

v.    Media Outreach: NMDC sent 1600 SMS to
employees for encouraging them to take e-pledge
and published Vigilance Awareness activities in 19
newspapers.

vi.    Banners and Posters: NMDC displayed 86 banners,
08 standees, 200 pamphlets and 200 e-messages
promoting vigilance themes during the period of
campaign.

vii.    Valedictory Ceremony: The concluding ceremony
featured speeches, distribution of prizes to
competition winners and participation certificates
to students.

23.0 NMDC STRATEGIC MANAGEMENT PLAN
(NMDC VISION 2030)

NMDC has envisaged to reach 100 MTPA capacity by 2030.
This expansion plan included brownfield expansion of existing
mines and developing greenfield mines in partnership with
Chhattisgarh Mineral Development Corporation. A joint
venture of NMDC & CMDC (NCL) has inaugurated & started
operations at Deposit-4 Iron Ore Mine in March 2026 and will
soon be starting operations at Deposit-13 Iron Ore Mine in the
Bailadila Region. By the end of FY 2026, NMDC achieved an
EC Capacity of 64.8 MTPA, apart from 17 MTPA EC of NCL
(Deposit 13 & Deposit-4).

India is presently the world's second-largest producer of
crude steel. In FY'26, the production of crude steel stood at
168 MT with a growth of 10.7% over the previous year. The
growth in the Indian steel sector has been driven by the
domestic availability of raw materials such as iron ore and
cost-effective labour. Consequently, the steel sector has been
a major contributor to India's manufacturing output.

The Production Linked Incentive (PLI) scheme 1.1 launched in
January 2025 by Ministry of Steel, Government of India for
specialty steel is a ' 6,322-crore initiative under Atmanirbhar
Bharat designed to promote the domestic manufacturing of
value-added, high-grade steel, leading to increase in demand
of Iron Ore.

The Production-Linked Incentive (PLI) Scheme for Specialty
Steel in India expands on the original 2021 framework (PLI
1.0) through subsequent phases like PLI 1.1 and PLI 1.2. It aims
to boost domestic value-added steel manufacturing, reduce
import dependence and offer financial incentives ranging
from 4% to 15%. Under PLI 1.0, the committed outcomes
include '27,106 crore of investment, 14,760 direct jobs and
7.9 million tonnes of production capacity. PLI 1.1, launched
on 06.01.2025, is expected to attract investment of about
'17,000 crore, generate around 16,000 jobs and add 6.4
million tonnes of production capacity. PLI 1.2 was launched
on 04.11.2025, covering 22 product sub-categories under four
product categories, namely: (i) Steel Grades for Strategic
Sector, (ii) Commercial Grades - Category 1, (iii) Commercial

Grades - Category 2 and (iv) Coated & Wire Products. The
scheme offers incentive rates ranging from 4% to 15% for
a period of five years, commencing from FY 2025-26, with
incentive disbursement starting from FY 2026-27.

As per National Steel Policy, the country has envisaged
increasing its steel production capacity to 300 MTPA by FY'31.
The wide range of continuing infrastructure projects could
support growth in steel demand to reach our envisaged target
of per capita steel consumption of 160 Kg by FY'31 in the long
term. To support this growth, NMDC is actively pursuing an
Iron Ore Production ramp-up plan to further increase its iron
ore production capacity to 100 MTPA by FY'30.

In line with the Vision Plan 2030 for achieving 100 MTPA
production capacity, NMDC has undertaken several
production augmentation and evacuation infrastructure
projects. In addition, development of new deposits and
OCSL plant facilities has also been envisaged to support the
targeted capacity expansion.

During the financial year 2025-26, substantial progress has
been done in major projects - by NMDC - like SP-III Kirandul
Complex, SP-II Donimalai, Slurry Pipeline, new crushing plant
and downhill conveyor system at Dep-14 & 11C.

To augment the evacuation capacity from the Bailadila sector,
many projects & schemes are being taken up like doubling of
KK line, Rowghat Jagdalpur line, Slurry Pipeline, etc. Doubling
of KK line is being executed by Railways as deposit work is in
full swing and few completed sections have been opened for
traffic. Out of 150 km of planned doubling of railway line, 128
km has already been completed & the project is likely to be
completed by October 2026. The completion of this project
will augment the evacuation capacity of the Bailadila sector
through the Railway line - to 60 MTPA.

Activities for Phase-1 of Slurry Pipe Line including 2 MTPA
capacity Ore Processing Plant (OPP) at Bacheli, 15 MTPA
capacity Slurry Pipeline System (130 km) from Bacheli to
Nagarnar and 2 MTPA capacity Pellet Plant at Nagarnar, are in
advance stage progress. The first phase of project is likely to
be completed in 2026.

Ministry of Coal has allocated two Coal Blocks namely
Tokisud North Coal block & Rohne Coal Block on 17.03.2020
for commercial sale & captive purposes. NMDC has appointed
MDO for Tokisud North Coal Block where operations have
started from January 2026. Operations at Rohne is expected
to start soon.

Besides the expansion plan, NMDC has enhanced its focus on
digitalization and Sustainability aspects.

24.0    ERP, Digitalization and IT
Infrastructure:

NMDC continued its digital journey in 2025-26 with a strong
focus on usage of Artificial Intelligence (AI), Machine Learning
(ML), Industrial Automation, IoT, Advanced Analytics, Cloud
Technologies and Cyber Resilience.

Aligned with the Vision 2030 goal of achieving 100 MTPA
iron-ore production, NMDC is leveraging next-generation
Digital Technologies to boost Efficiency, Productivity, Safety,
Sustainability and Operational Intelligence across all mines
and business functions. Further, Dashboard enhancements
have improved data visibility and operational efficiency
across key functions, thereby enhancing overall operational
performance.

24.1    Framework for Digitalization:

NMDC has established Digitalization framework governance
model for implementation of Digital Initiatives. This includes
constituting Corporate and Unit level digitalization teams for
identification of operational challenges / Problem Statements
and addressing these challenges with appropriate Digital
intervention. Further, NMDC is in the process of formulation of
a policy for digitalization to empower the Digitalization Teams
for quick and effective implementation of digital initiatives
across the enterprise. The policy also covers the framework
for engagement of Startups / Solution Providers.

24.2    Digital Initiatives Implemented During the Year

1. Digitally Enabled Drilling and Blasting Design and
Optimization Solution:

The Digitally Enabled Drilling & Blasting Design
Optimization Solution is an integrated technology
platform that optimizes drilling and blasting operations
through digital tools, AI & vision enabled monitoring and
data-driven analytics. Using drones, DGPS, advanced
sensors and intelligent blast design software, the system
enables accurate terrain mapping, optimized drill and
charging patterns, real-time tracking of drilling and blast
performance and post-blast analysis of fragmentation,
vibration, throw and environmental parameters to
support continuous operational improvement and
optimum resource utilization.

The above solution has been implemented at Bacheli,
Kirandul, Donimalai and Panna Mines.

2.    RealTime Stockpile Management (RTSM)

The Real-Time Stockpile Management (RTSM) solution
is a digital platform that enables real-time monitoring,
tracking and management of ore stockpiles using
IoT-enabled sensors and AI-driven analytics. The
system replaces traditional manual survey methods
by generating dynamic 3D stockpile models, instantly
calculating material volumes and with insights, trends,
alerts and Dashboard in real-time to support timely &
well informed decision-making.

The above solution has been implemented as a Proof of
Concept (POC) at Bacheli Loading Plant and another POC
is under implementation at Donimalai Loading Plant.

3.    File Life Cycle Management (FLM)

Electronic File System has been Implemented enabling
paperless office operations leading to improved
traceability, reduced cycle time and enhanced
productivity.

24.3 Initiatives under implementation:

1.    Unified Mine Logistic Management & Surveillance
System (UMLMSS):

UMLMSS is a technology-driven platform designed
for vehicle movement in mining operations through
automated monitoring, digital validation and real¬
time analytics. The system integrates ANPR and RFID-
enabled gate controls, automated weighbridges, GPS
tracking, geofencing and AI-based CCTV surveillance
of Iron Ore handling including Production & Dispatch.
It provides centralized Dashboards and Analytics
enabling continuous monitoring, anomaly detection and
improved Operational Performance, Safety, Security and
Transparency.

2.    Digital Twin of Mines:

The Digital Twin solution is a high-resolution digital
representation of the mining environment designed
to enhance operational efficiency, monitoring and
data-driven decision-making. Leveraging drone-based
surveys, geospatial technologies, cloud computing and
advanced analytics, the system enables visualization
and analysis of mine operations, including production
monitoring, volumetric assessments, haul road and slope
safety analytics, drainage analysis and environmental
monitoring.

3.    Enterprise Sustainability Management Platform:

The Enterprise Sustainability Management (ESM)
Platform is a centralized digital solution designed
to strengthen ESG governance, compliance and
sustainability management across NMDC's operations.
The platform enables unified management of
environmental, social and governance data across
all business units while supporting compliance with
national and international frameworks such as SEBI,
BRSR, GRI, TCFD and CDP.

4.    Quarter Allotment Management Software

Online platform for efficient management of Quarter
inventory and enabling employees to apply, change or
upgrade Quarters transparently as per Company Quarter
Allotment Policy.

24.4 Initiatives in Pipeline

1.    Integrated Control & Command Centre (ICCC):

The Integrated Control and Command Centre (ICCC)
is a Centralized Digital Platform designed to provide a
unified view of operations across NMDC. It will integrate
data from multiple enterprise applications, operational
systems, IoT devices, sensors and surveillance
infrastructure into a single command and monitoring
environment.

The ICCC enables real-time monitoring, situational
awareness and data-driven decision-making through
interactive dashboards, advanced analytics and
automated alerts. Leveraging Artificial Intelligence (AI)
and Machine Learning (ML). The platform enhances
operational efficiency, improves response times,
strengthens safety and security monitoring and provides
actionable insights for strategic and operational
decision-making.

2.    Tethered Aerostat based Surveillance System:

The Tethered Aerostat based Surveillance System is
designed to provide persistent, wide-area monitoring
of operations, boundaries and critical infrastructure.
It uses a helium-filled aerostat equipped with electro¬
optical and infrared sensors to enable continuous
day and night surveillance from an elevated position,
overcoming the limitations of ground-based systems.
The aerostat is connected to a ground control station
that ensures uninterrupted power and data transmission,
supporting continuous monitoring, recording and
AI-based analytics for vehicle tracking, intrusion

detection, safety surveillance and operational oversight,
thereby enhancing security, situational awareness and
operational efficiency.

IT / ERP Awards

•    Technology Excellence Award 2025- Best Digital
Transformation Initiative (Mining & Steel) by FTCCI.

•    Best Digital Transformation Initiative (Mining &
Steel) at the 7^th Edition Technology Excellence
Awards 2025, recognizing NMDC's leadership in AI,
automation and digital innovation.

24.5 Initiatives for Technological upgradation

The implementation of the following advanced digital
technologies to set a legacy in mining sector and increase
efficiency, productivity and safety has been commissioned:

1.    Digitally Enabled Drilling and Blasting Design and
Optimization Solution

2.    Real Time Stockpile Management (RTSM)

25.0 Computer & Information Technology
Initiatives

1.    The Company underwent Technology refresh for Network
Infrastructure to support existing, ongoing and future
Digital Initiatives. This includes the following:

•    Core Switches, Distribution switches, Access
switches and Firewalls at all the locations.

•    OFC backbone under primary path as well as
redundant OFC under a Secondary path.

•    UTP cable laying at all Plants and Buildings.

•    Wi-Fi Network has been implemented at Plant,
Buildings and Mines with Centralized Wireless
Access Controller, NAC etc.

•    Implementation of a NOC at HO.

2.    Hospital Management System (HMS) has been
implemented at all the Project Hospitals of NMDC.
During the year, the following new initiatives have been
carried out in HMS:

•    Picture Archiving and Communication System
(PACS) implemented and integrated with HMS
enabling Tele reporting of X- Rays and CT-Scan

•    Online prescription module has also been
implemented at all project hospitals and reports are
also being shared over mobile.

3. A cloud based Legal Tracker Software has been
implemented for the Law Section. This includes the
following:

•    Cloud based SAS solution

•    Case Details Management includes automatic
updation of the cases

•    Case Law Repository

•    Notice Tracking and Management includes end to
end tracking of incoming notices

•    Calend ar Ma nagement

•    Reporting and Analytics

26.0 Innovation Initiatives:

NMDC continued to strengthen innovation, technological
advancement and sustainable mining practices through
focused investments and modernization during FY 2025-26.
Innovation initiatives undertaken during the year include:

a)    Automatic Sampling and Analysis System (ASAS): NMDC
initiated implementation of an automated sampling and
analysis system at its mines incurred about '77 crore.
The system enables accurate, consistent and real-time
assessment of iron ore quality through automated
sample collection, preparation and laboratory analysis,
thereby improving transparency, operational efficiency
and decision-making.

b)    Modular Crushing and Conveying System: A Modular
Crushing Unit and Conveying System connecting the
Dynamic Stockpile to Conveyor BC-108 at Donimalai
Complex was commissioned at an expenditure
about '6 crore. The project is expected to reduce ore
transportation through dumpers, resulting in improved
efficiency and lower operating costs.

c)    Rapid Wagon Loading System (RWLS): To enhance
dispatch efficiency and reduce wagon loading time, a
Rapid Wagon Loading System was installed at Screening
Plant-III, Kirandul, with an expenditure about '4 crore.

d)    Pellet Feed and Slimes Utilization Initiative: As part
of its circular economy and resource conservation
efforts, NMDC is progressing towards utilization of
iron ore slimes for pellet production. During FY 2025¬
26, approximately '23 crore was invested in slurry

transportation infrastructure, including carbon steel
pipelines for recycling process water.

e)    As part of its long-term strategy for value addition
and utilization of low-grade ores and slimes, NMDC is
developing a Pellet Plant along with an Ore Processing
Plant. During FY 2025-26, incurred about '56 crore
was invested towards procurement of advanced
pressure filters and API-grade carbon steel pipelines,
strengthening the Company's capability for sustainable
resource utilization, enhanced value addition and
improved recovery of iron-bearing resources that would
otherwise remain underutilized.

f)    Digital Mine Optimization: Real-time stockpile
management and digitally enabled drilling and blasting
design optimization solutions were implemented with
an expenditure of approximately '8 crore, enhancing
operational planning, resource utilization and
productivity.

g)    Environmental Sustainability Projects: Environmental
protection and ecological improvement initiatives were
undertaken at Kirandul Complex with an investment
of approximately '5 crore, reaffirming the Company's
commitment towards sustainable mining.

h)    Energy Efficiency Improvement initiatives: Various
projects aimed at reducing electricity consumption
while enhancing safety and reliability of operations were
implemented during the year incurred about '1.5 crore.

i)    Sized Ore Plant at Bacheli: To meet growing customer
demand and improve product availability, a Sized Ore
Plant was commissioned at Bacheli, incurred about '12
crore.

j)    Moisture Reduction Technology: Water-absorbing
polymer technology was deployed to reduce ore
moisture and minimize operational disruptions due to
material jamming. An expenditure of about '13 crore was
incurred under this initiative.

27.0 IMPACT OF THE HON'BLE SUPREME
COURT OF INDIA JUDGEMENT WITH
REFERENCE TO THE WRIT PETITION (CIVIL)
NO.114/2014 DATED 02.08.2017

i. The Company has been legally advised that the judgment
of the Hon'ble Supreme Court in Writ Petition (Civil)
No. 114/2014 dated 02.08.2017 has no direct impact on
NMDC. However, should it be applied to NMDC at a later
stage, it could affect the Company's profitability.

Meanwhile, the Bailadila Projects of NMDC received
Show Cause Notices dated 31.07.2018 from the District
Collector, Dantewada, questioning why NMDC should
not be directed to pay compensation of ' 7241.34 crores,
as per the Supreme Court judgment. NMDC was asked
to respond by 31.08.2018.

As per the legal opinion obtained, the judgment is not
applicable to NMDC and thus, no compensation is
payable. NMDC responded to the Show Cause Notices
and contested the demand before the Collector,
Dantewada and other appropriate authorities. The
Company has also filed objections with the District
Collector, South Bastar, Dantewada.

ii.    On 26.09.2019, the State Government issued revised
Show Cause Notices reassessing penalties at ' 1623.44
crores. NMDC once again did not accept the revised
penalties.

iii.    The Collector, Dantewada, issued final demand notices on
15.11.2019 for ' 1390.03 crores towards excess production
and ' 233.41 crores for violation of Environmental
Clearance (EC) capacity, totaling '1623.44 crores.

a)    NMDC deposited '600 crores on 10.12.2019 under
protest with the Chhattisgarh State Government.

b)    NMDC filed two Writ Petitions (Civil) WPC/612/2020
and WPC/616/2020 before the Hon'ble High Court
of Bilaspur on 22.01.2020, challenging the final
demand notices dated 15.11.2019 on the ground of
alleged excess extraction of iron ore beyond the
environmental clearance capacity during 2000¬
2017. The following reliefs were sought:

i.    To issue a writ of certiorari or any other
appropriate writ, declaring the demand notice
dated 15.11.2019 as illegal, without jurisdiction
and in violation of Article 19(1)(g) and Article
246 of the Constitution of India.

ii.    To set aside the impugned demand notice
dated 15.11.2019 for penalty and compensation
relating to excess production over EC limits.
To grant any other relief deemed fit by the
Hon'ble High Court, in light of the facts and
circumstances of the petition.

c)    The matter was listed for hearing on 19.02.2020.
After hearing both parties, the Hon'ble High Court
passed the following order.

As prayed, both cases were directed to be listed
for hearing on the next date. Considering the fact
that NMDC has already deposited ' 600 crores, the
Hon'ble Court ordered that no coercive action shall
be taken against the petitioner until the next date of
hearing.

The respondents were also directed to submit data
regarding the petitioner's production exceeding the
Environmental Clearance (EC) limits by the next
hearing.

The matter was last listed on 24.09.2025 and the
interim stay was extended thereafter. However, the
case has not been listed since then.

iv. A revision application (No. 12/ (01)/2020/RC-II) was also
filed on 24.01.2020 before the Hon'ble Mines Tribunal,
Ministry of Mines, Government of India, New Delhi,
challenging the validity of the demand notices dated
15.11.2019. The following reliefs were sought:

To set aside the penalties related to alleged excess
production, arguing that the demand is without
jurisdiction, illegal, arbitrary, violative of natural justice
and ultra vires the MMDR Act, 1957. To pass any other
appropriate orders in the interest of justice and the
public good. Last hearing was held on 13.11.2025 and
adjourned.

28.0 DIRECTORS' RESPONSIBILITY
STATEMENT

Pursuant to Section 134(5) of the Act, the Board of Directors,

to the best of its knowledge and ability, confirm that:

i)    in the preparation of the annual accounts, the applicable
accounting standards have been followed and there are
no material departures;

ii)    they have selected such accounting policies and applied
them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company at the end
of the financial year and of the profit of the Company for
that period;

iii)    they have taken proper and sufficient care for the
maintenance of adequate accounting records in
accordance with the provisions of the Act for safeguarding
the assets of the Company and for preventing and
detecting fraud and other irregularities;

iv)    they have prepared the annual accounts on a going
concern basis;

v)    they have laid down internal financial controls to be
followed by the Company and such internal financial
controls are adequate and operating effectively;

vi)    they have devised proper systems to ensure compliance
with the provisions of all applicable laws and that such
systems are adequate and operating effectively.

Based on the framework of internal financial controls and
compliance systems established and maintained by the
Company, the work performed by the internal, statutory and
secretarial auditors and external consultants, including the
audit of internal financial controls over financial reporting
by the statutory auditors and the reviews performed by
management and the relevant board committees, including
the audit committee, the Board is of the opinion that the
Company's internal financial controls were adequate and
effective during FY 2025-26.

29.0    DECLARATION ON MEETING THE
CRITERIA OF INDEPENDENCE AS PER
THE COMPANIES ACT, 2013 AND SEBI
(LISTING OBLIGATIONS AND DISCLOSURE
REQUIREMENTS) REGULATIONS, 2015.

The Independent Directors have given a declaration on
meeting the criteria of independence as stipulated in Section
149(6) of the Companies Act, 2013 and Regulation 25(8) of
SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 in the FY2025-26.

30.0    COMPANY'S POLICY ON DIRECTORS'
APPOINTMENT AND REMUNERATION

Being a Government company, all Directors on the Board of
the Company are appointed by the Administrative Ministry,

i.e., Ministry of Steel, Government of India and their terms of
appointment including remuneration are determined as per
extant policies / guidelines of Government of India.

31.0    NUMBER OF BOARD MEETINGS HELD

During the year under review, 12 (Twelve) meetings of the
Board were held. For further details, reference may kindly be
made to Corporate Governance Section of the Annual Report.

32.0    CHANGE IN DIRECTORS / KEY
MANAGERIAL PERSONNEL (KMP)

32.1    Changes in the Board of Directors during the
financial year 2025-26:-

i.    Shri Amitava Mukherjee, Chairman and Managing
Director held Additional Charge of Director (Finance)
from 06.12.2025 to 05.03.2026.

ii.    Shri Vishwanath Suresh ceased to be Director
(Commercial) w.e.f. 07.01.2026. Thereafter, Shri Vinay
Kumar was entrusted with the Additional Charge of
Director (Commercial) from 09.01.2026 to 14.07.2026.

iii.    Shri Joydeep Dasgupta, Director (Production) held
Additional Charge of Director (Personnel) from

01.02.2026    to 18.03.2026.

iv.    Smt Priyadarshini Gaddam, Director (Personnel) held
Additional Charge of Director (Finance) upto 05.12.2025.
Further, she ceased to be a Director of the Company on

31.01.2026    on account of superannuation.

v.    Shri Krishna Kumar Thakur was appointed as Director
(Personnel) on the Board of NMDC Limited w.e.f.
19.03.2026.

vi.    Shri Anurag Kapil was appointed as Director (Finance)
on the Board of NMDC Limited w.e.f. 31.03.2026.

Government of India Nominee Directors

i. Shri Ashish Chatterjee, Additional Secretary & Financial
Advisor, Ministry of Steel was appointed as Government
Nominee Director w.e.f. 11.06.2025.

Independent Directors (Non-Executive)

i.    Shri Sanjay Tandon was appointed as Independent
Director w.e.f. 15.04.2025 to 14.04.2026.

ii.    Shri Bharat Baburao Patil and Shri Mahendra Singh
Rao were appointed as Independent Directors w.e.f.
15.05.2025.

iii.    Shri Achal Kumar Sinha was appointed as Independent
Director w.e.f. 03.07.2025.

32.2    Changes in the Key Managerial Personnel
(KMP) during the financial year 2025-26:-

i. Appointment of Shri K. Venkateswarlu as Chief Financial
Officer w.e.f. 27.05.2025.

ii.    Appointment of Smt. G. Anupama as Chief Financial
Officer w.e.f. 01.07.2025 in place of Shri K. Venkateswarlu
on account of his superannuation w.e.f. 30.06.2025.

iii.    Appointment of Shri Anurag Kapil, Director (Finance)
as Chief Financial Officer with effect from 31.03.2026 in
place of Smt. G. Anupama.

33.0 AUDIT

a. Statutory Auditors

As per communication received from Comptroller and Auditor
General of India, New Delhi, your Company appointed the
following firms of Chartered Accountants as Statutory
Auditors of the Company for the year 2025-26:

b.    Cost Auditors

M/s Sanjiban & Co,

Cost Accountants

JNG House, 1221/07, Sabalpur (L) Road,

K.G. Ashram, Dhanbad, Jharkhand - 826008

c.    Secretarial Auditors

M/s D. Hanumanta Raju & Co.,

Company Secretaries
B-13, F-1, P.S. Nagar,

Vijaynagar Colony,

Hyderabad - 500 057.

34.0 (a) STATUTORY AUDITOR'S REPORT

The Audit Report for both Standalone and Consolidated
Financial Statements for the year 2025-26 is unmodified
and does not contain any qualification, reservation or
adverse remark.

(b)    COMMENTS OF C&AG ON FINANCIAL
STATEMENTS

The Comptroller and Auditor General of India (C&AG),
vide its letter dated 14.08.2026, have provided their
comments on the Standalone and Consolidated financial
statements of the Company for the financial year ended
31.03.2026, in accordance with Section 143(6)(b) of the
Companies Act, 2013. The Management's responses to
the said comments are enclosed as Annexure IX(a) and
IX(b) to this Report, respectively.

(c)    SECRETARIAL AUDIT REPORT

The Secretarial Audit for the financial year 2025-26
was done by M/s D. Hanumanta Raju & Co., Practising
Company Secretaries. The Secretarial Audit Report is
enclosed to this report. There are certain observations in
the report, management's reply to which is as follows:-