History of the Company

_x000D_ NMDC Ltd was incorporated on November 15, 1958, as a government company. Initially, its name was National Mineral Development Corporation Pvt Ltd, but the ‘Pvt’ part was later removed. In 1966, NMDC acquired the Panna Diamond Project. In 1968, they commenced the production of iron ore from Bailadila Deposit No.14. They later expanded the operations to Bailadila and also the Donimalai iron ore mine. _x000D_ _x000D_ In the year 1989, the company started a joint venture with J&K Minerals Ltd in order to explore the magnesite mine at Panthal and to eventually produce dead burnt magnesite. In 2008, they entered into an MoU with Spice Metals and Minerals for a strategic partnership for metal and mineral projects outside India. In the same year, the company was conferred the Navratna status by the Department of Public Enterprises. _x000D_ _x000D_ In 2009-10, the Government of India disinvested 8.38% of their holding in the company through an offer for sale. In 2010-11, the company signed an MoU with OJSC Severstal, a Russian company, to jointly set up an integrated steel plant in Karnataka. The company also incorporated a joint venture company, named Kopano Ke Matla Investment Company (Pty) in the Republic of South Africa to explore mineral resources there. In June 2013, NMDC signed an MoU with MOSI OA TUNYA Development Company from Zimbabwe for operating mineral projects in Zimbabwe._x000D_ _x000D_ In 2013, NMDC’s subsidiary NMDC Power Ltd. (NPL) signed an MoU with IL&FS Energy Development Company Ltd (IEDCL) to buid a 500 megawatt (2x250 MW) thermal power plant via a joint venture at Gonda in Uttar Pradesh. In 2019-20, 1 MW capacity grid-connected Roof Top Solar (RTS) power plants were installed at various production units of NMDC._x000D_

Business Segments

_x000D_ In the year ending on March 31, 2022, the company’s goods and services included Iron Ore, diamonds, pellets, coal and power. _x000D_ _x000D_ Based on the source, NMDC divides its iron ore products into the following categories:_x000D_

_x000D_
1. Products from Bailadila sector - Baila ROM,10-20 mm Sized Ore,  DRCLO, Baila Lump, Baila Fines.
_x000D_
2. Products from Donimalai sector - Doni Lump, Kumaraswamy Lump, Kumaraswamy Sized Lump Ore
_x000D_

_x000D_ As of the year ending on March 31, 2022, out of the total revenue from contracts with customers, iron ore made up over 98%. As of 2022, NMDC was the largest iron ore manufacturer in India, covering 18% of the total domestic production. The Company also operates the sole mechanised diamond mine in India, at Panna._x000D_

Subsidiaries

_x000D_ NMDC has multiple subsidiaries, including the following:_x000D_

_x000D_
1. J&KMDC Ltd. - The company engages in the exploration and mining of Magnesite, Sapphire, Marble, Limestone, Iron ore, Coal, Phosphate, Manganese ore and other mineral deposits. 
_x000D_
2. Karnataka Vijaynagar Steel Ltd. - It is a wholly owned subsidiary that is majorly engaged in the manufacturing of steel.
_x000D_
3. NMDC Steel Ltd - It is a wholly owned subsidiary that owns and operates a steel plant in Chhattisgarh.
_x000D_

_x000D_

Corporate Actions

_x000D_ The following are some of the major corporate actions undertaken by NMDC._x000D_ _x000D_ Bonus Issue_x000D_ _x000D_ The company issued bonus shares at 2:1 in May 2008._x000D_ _x000D_ Buyback of Shares_x000D_ _x000D_ The company had conducted a buyback of its shares in August 2016, January 2019 and November 2020. _x000D_ _x000D_ Stock Split_x000D_ _x000D_ The company had performed a stock split from ₹10 to ₹1 per share in April 2008._x000D_ _x000D_ Mergers and Acquisitions_x000D_

_x000D_
• In 2022, NMDC demerged NMDC Steel from itself and handed it its steel operations.
_x000D_