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The Orissa Minerals Development Company Limited (ORISSAMINE)

₹3,464.80 -0.01% last close, 16 Oct

📊 NSE: ORISSAMINE 🏢 Mining / Minerals / Metals 📢 Latest filing: 15 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Orissa Minerals' revenue was ₹29.5 Cr, and net profit ₹3.5 Cr; the operating margin was 31.6%.

Q1 FY27 (₹ Cr)	Value	YoY	QoQ
Revenue	₹29.5	—	—
Operating profit	₹9.3	—	—
Net profit	₹3.5	—	—
Operating margin	31.6%	—	—

Full quarterly financials → Results calendar →

ORISSAMINE delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 53.87% of the ORISSAMINE shares traded on NSE were taken to delivery, against the stock's own 20-session average of 47.53%. That is close to its usual level.

53.87%Delivery, 16 Oct

47.53%Own 20-session average

0.5×Volume vs its average

₹3,464.80NSE close · -0.01%

Delivery in the last 5 sessions: 41.7% · 36.9% · 52.0% · 53.8% · 53.9%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

ORISSAMINE Submits Demat Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 15 Oct 2026, 05:56 PM

The Orissa Minerals Development Company Limited has submitted its compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30th September, 2026. The certificate was issued by the Registrar and Share Transfer Agent, MUFG Intime India Private Limited. It confirms that share certificates received for dematerialisation during the quarter were duly processed, verified, and cancelled within prescribed timelines. This is a standard quarterly regulatory submission with no impact on operations or financials.

Compliance certificate submitted for the quarter ended 30th September, 2026
Issued under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
Certificate provided by RTA MUFG Intime India Private Limited dated 8th October, 2026
Filed with stock exchanges on 15th October, 2026

💡 No action needed as this is a procedural filing. Investors should focus on upcoming quarterly financial results and mining operations updates.

Ministry of Steel Appoints Daya Nidhan Pandey as Govt. Nominee Director at OMDC

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Oct 2026, 06:13 PM

The Orissa Minerals Development Company Limited (OMDC) announced the appointment of Shri Daya Nidhan Pandey, Joint Secretary in the Ministry of Steel, as a Government Nominee Director with effect from October 12, 2026. He replaces Shri S. Sharad Rao, former Director at the Ministry of Steel, who has ceased to be a director on the board. Mr. Pandey is a 2006 batch IAS officer with extensive administrative background, including roles in central and state governments. This is a routine administrative reconstitution of government representation on the board.

Appointment of Shri Daya Nidhan Pandey as Government Director effective October 12, 2026
Appointed vide Ministry of Steel Order No. S-14011/1/2022-BLA dated October 12, 2026
Replaces Shri S. Sharad Rao, former Director, Ministry of Steel, who ceased to be on the board
Appointee is a 2006 batch IAS officer serving as Joint Secretary, Ministry of Steel

💡 Track progress on the operationalization of the Belkundi mines and exploration at Bagiaburu rather than administrative board rotations.

Ministry of Steel Appoints Daya Nidhan Pandey as Govt. Nominee Director at OMDC

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 14 Oct 2026, 06:08 PM

Appointment of Shri Daya Nidhan Pandey as Government Director effective October 12, 2026
Appointed vide Ministry of Steel Order No. S-14011/1/2022-BLA dated October 12, 2026
Replaces Shri S. Sharad Rao, former Director, Ministry of Steel, who ceased to be on the board
Appointee is a 2006 batch IAS officer serving as Joint Secretary, Ministry of Steel

💡 Track progress on the operationalization of the Belkundi mines and exploration at Bagiaburu rather than administrative board rotations.

OMDC Reports Q1 FY27 Results; Belkundi & Bhadrasahi Mines Remain Suspended

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 05 Oct 2026, 11:02 AM

The Orissa Minerals Development Company Limited (OMDC) held its Board Meeting on September 17, 2026, to approve the unaudited standalone financial results for the quarter ended June 30, 2026. The independent auditor's limited review included an Emphasis of Matter noting that mining operations at Belkundi and Bhadrasahi Mines remain suspended due to lack of statutory clearances, while Bagiaburu Iron Mines has been operating since December 14, 2023. Additionally, issues surrounding the title of 180.82 acres of freehold land were highlighted, with 168.098 acres held under BPMEL.

Board approved unaudited Standalone Financial Results for the quarter ended June 30, 2026.
Operations at Belkundi and Bhadrasahi Mines remain suspended pending statutory clearances.
Bagiaburu Iron Mines continues commercial operations since December 14, 2023.
Disputed freehold land ownership totals 180.82 acres, with only 5.423 acres registered in OMDC's name.

💡 Track the progress of statutory clearance approvals and lease renewals for Belkundi and Bhadrasahi mines, as well as the resolution of land title disputes.

OMDC Receives 2-Month ROC Extension to Hold 108th AGM by November 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Sep 2026, 11:08 PM

The Orissa Minerals Development Company Limited (OMDC) has received approval from the Registrar of Companies (ROC), Cuttack, for a 2-month extension to conduct its 108th Annual General Meeting (AGM) for FY 2025-26. The AGM, originally due by September 30, 2026, can now be held up to November 30, 2026. The extension was requested due to delays in receiving comments from the Comptroller and Auditor-General of India (CAG). The ROC granted the extension under Section 96(1) of the Companies Act, 2013, advising the company to ensure timely compliance in the future.

ROC Cuttack granted a 2-month extension for holding the 108th AGM.
The deadline to conduct the AGM for FY 2025-26 is extended up to November 30, 2026.
The extension was necessitated by a delay in the receipt of comments from the CAG.
Application was submitted under SRN AC6244364 on September 26, 2026, and approved via order dated September 29, 2026.

💡 Track subsequent announcements regarding the finalization of the CAG comments and the issuance of the formal notice with the rescheduled AGM date.

OMDC Appoints RINL Nominee GVN Prasad as Non-Executive Director

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 22 Sep 2026, 10:34 AM

The Orissa Minerals Development Company Limited (OMDC) announced the appointment of Shri GVN Prasad, Director (Commercial) at RINL, as a Non-Executive Director on its Board effective September 16, 2026. He replaces Shri Arun Kanti Bagchi as the nominee of ultimate holding company Rashtriya Ispat Nigam Limited (RINL). Shri Prasad has served RINL since 1987 across several marketing and commercial leadership roles. This constitutes a routine nominee board reshuffle with no financial impact.

Nomination of Shri GVN Prasad (DIN: 10612236) as Non-Executive Director effective September 16, 2026
Replaces outgoing nominee Shri Arun Kanti Bagchi on the OMDC Board
Appointee is Director (Commercial) at ultimate holding company RINL and joined RINL in 1987
RINL communication dated September 16, 2026 was received by the company on September 21, 2026

💡 Track operational progress on the operationalization of Belkundi mines via the MDO contract and upcoming quarterly results, which remain the primary fundamental drivers rather than board nominee changes.

OMDC Reports Q1 FY27 Results; Belkundi & Bhadrasahi Mining Leases Remain Suspended

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 17 Sep 2026, 03:42 PM

The Orissa Minerals Development Company Limited (OMDC) approved its unaudited standalone financial results for the quarter ended June 30, 2026. The auditor's limited review highlighted an Emphasis of Matter noting that operations at the Belkundi and Bhadrasahi mines remain suspended pending statutory clearances and lease renewals. Only the Bagiaburu Iron Mines have been operational since December 14, 2023. Additionally, issues regarding land titles were noted, with 168.098 acres out of 180.82 acres of freehold land held in BPMEL's name.

Board approved unaudited Standalone Financial Results for Q1 ended June 30, 2026 on September 17, 2026
Belkundi and Bhadrasahi mining operations remain suspended due to non-availability of statutory clearances
Bagiaburu Iron Mines operational status reiterated since December 14, 2023
168.098 acres out of total 180.82 acres of freehold land are registered under BPMEL, not OMDC directly

💡 Track progress on statutory clearances and lease renewal approvals for the Belkundi and Bhadrasahi mines, as these remain critical for operational revival.

ORISSAMINE Closes Trading Window from September 14, 2026 Ahead of Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 14 Sep 2026, 07:08 PM

The Orissa Minerals Development Company Limited has announced the closure of its trading window for dealing in company securities effective September 14, 2026. The closure applies pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015. The restriction will remain active until 48 hours after the declaration of unaudited financial results for the quarter ended June 30, 2026. This is a routine administrative compliance filing with no impact on business operations.

Trading window closed starting September 14, 2026
Closure covers unaudited financial results for the quarter ended June 30, 2026
Trading will reopen 48 hours following the declaration of financial results

💡 Track the upcoming board meeting announcement date for the declaration of the June 30, 2026 quarterly results.

OMDC Announces Resignation of Non-Executive Director Arun Kanti Bagchi Effective August 31, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 11:32 AM

The Orissa Minerals Development Company Limited (OMDC) announced the cessation of Shri Arun Kanti Bagchi as Non-Executive Director effective August 31, 2026. The resignation occurred because Mr. Bagchi attained the age of superannuation and relinquished his charge as Director (Projects) at Rashtriya Ispat Nigam Limited (RINL). This represents a routine board change driven by parent/nominee organization retirement rules. It carries no direct financial impact on the company's mining operations or revenue.

Shri Arun Kanti Bagchi resigned as Non-Executive Director w.e.f. August 31, 2026 (A/N)
Resignation prompted by superannuation as Director (Projects) of RINL on August 31, 2026
Filing submitted under Regulation 30 of SEBI LODR Regulations on September 8, 2026

💡 Track subsequent filings for nomination of a replacement director from RINL and focus on updates regarding mine operationalization at Belkundi and Bagiaburu.

1.8 MTPA Iron Ore Mine: OMDC Receives Environmental Clearance for Belkundi Mine

🟢 POSITIVE ⭐ 9/10

REGULATORY 📅 13 Aug 2026, 11:44 AM

The Orissa Minerals Development Company (OMDC) has received Environmental Clearance (EC) from the MoEF&CC for its Belkundi Iron & Manganese Ore Mine in Odisha. The clearance permits a production capacity of 1.8 MTPA for Iron Ore and 0.3 MTPA for Manganese Ore, a critical milestone for a company currently reporting zero revenue. The project includes the installation of crushers and screening plants with a total capital cost for the Environmental Management Plan (EMP) set at Rs 2.86 Cr. This regulatory approval is essential for the company to address its negative net worth of Rs -51 Cr and restart operations.

Granted production capacity of 1.8 MTPA for Iron Ore and 0.3 MTPA for Manganese Ore.
Mining restricted to 920.6 hectares within a total lease area of 1276.79 hectares.
Capital expenditure for Environmental Management Plan (EMP) estimated at Rs 2.86 Cr.
Approval includes installation of crushers (100/200 TPH) and screening plants (400/200 TPH).
EC granted under the violation category based on S.O 804 (E) dated 14/03/2017.

💡 Monitor the timeline for the appointment and mobilization of the Mine Developer and Operator (MDO) and the subsequent application for Consent to Operate (CTO). Investors should track when the first ore sales are recorded to validate the turnaround thesis.

Supreme Court Order Restores Environmental Clearance Process for Belkundi Mines

🟢 POSITIVE ⭐ 8/10

REGULATORY 📅 31 Jul 2026, 06:00 PM

The Supreme Court's July 29, 2026, judgment has cleared the path for the restoration of the Environmental Clearance (EC) process for OMDC's Belkundi Iron and Manganese Mines. Previously delisted on May 31, 2025, the proposal is now restored for reconsideration following the SC's validation of the 2017 Notification. Notably, the MoEF&CC already recommended the grant of EC on July 28, 2026, contingent on this court outcome. This is critical for OMDC, which reported a net loss of ₹40.22 crore in FY25 and has zero current revenue, as operationalizing Belkundi is its primary growth strategy.

Supreme Court judgment dated 29.07.2026 validates the 2017 Notification for existing and pending EC applications.
Belkundi Mine EC proposal was previously delisted on 31.05.2025 following a prior court ruling.
MoEF&CC recommended the grant of EC for Belkundi on 28.07.2026, just one day before the SC judgment.
OMDC reported a net loss of ₹40.22 crore in FY25, making mine operationalization a critical necessity.

💡 Monitor the formal issuance of the EC letter from MoEF&CC and the subsequent timeline for the Mine Developer and Operator (MDO) to begin operations.

2.1 MTPA Mining Capacity Recommended for Environment Clearance at Belkundi Mine

🟢 POSITIVE ⭐ 9/10

REGULATORY 📅 28 Jul 2026, 03:51 PM

The Expert Appraisal Committee (EAC) has recommended the grant of Environment Clearance (EC) for the Belkundi Iron & Manganese Ore Mine, a pivotal step for the company which currently reports zero revenue. The recommendation covers a production capacity of 1.8 MTPA Iron Ore and 0.3 MTPA Manganese Ore. However, the clearance is strictly conditional upon the company securing a lease extension beyond its current expiry date of August 15, 2026. Given the company's negative net worth of ‹51 Cr and zero TTM revenue, operationalizing this mine is critical for its survival and turnaround.

Recommended production capacity of 1.8 MTPA Iron Ore and 0.3 MTPA Manganese Ore
Mining restricted to 965.423 hectares out of 1276.79 hectares until Forest Clearance is obtained for the balance area
Mandatory requirement to extend the mining lease validity beyond the current expiry of August 15, 2026
Requirement to execute a bank guarantee of ‹4.81 Crores for remediation and augmentation plans
Includes installation of crushers (100/200 TPH) and screening plants (400/200 TPH) to support operations

💡 Watch for the official notification of the mining lease extension before August 15, 2026, as the EC recommendation is void without it. Investors should also monitor the timeline for the Mine Developer and Operator (MDO) to begin actual production once the final EC is issued.

OMDC Approves Audited FY26 Financial Results; Company Navigates Negative Net Worth

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 24 Jul 2026, 07:23 PM

The Board of Directors of The Orissa Minerals Development Company (OMDC) approved the audited standalone financial results for the year ended March 31, 2026. The company enters this reporting period with a stressed financial profile, including a net loss of ‑Rs 40.22 Cr in the previous fiscal and a negative net worth of ‑Rs 51 Cr. Investors are focused on whether the company has successfully transitioned from zero TTM revenue to operational status through its planned MDO contracts. The board meeting lasted over seven hours, reflecting a comprehensive review of the company's recovery efforts.

Board meeting concluded after 7 hours and 40 minutes of deliberation (11:00 AM to 6:40 PM)
Approval of audited standalone financial results for the period ended March 31, 2026
Company is attempting to reverse a prior year net loss of Rs 40.22 Cr
Current financial context shows a negative net worth of Rs -51 Cr and debt of Rs 145 Cr
Operations remain dependent on the operationalization of Belkundi mines via MDO contract

💡 Investors should scrutinize the full financial tables for any signs of 'Revenue from Operations' which has been zero in recent quarters. The key metric to watch is the progress of the Mine Developer and Operator (MDO) contract for the Belkundi mines.

Trading Window Closure from July 20, 2026, for FY26 Audited Financial Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Jul 2026, 06:59 PM

The Orissa Minerals Development Company Limited (OMDC) has announced the closure of its trading window for insiders effective July 20, 2026. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results. The window will remain closed until 48 hours after the results for the financial year ended March 31, 2026, are made public. This is a standard administrative procedure and does not indicate any operational change.

Trading window closed effective from July 20, 2026
Closure relates to Audited Financial Results for the year ended March 31, 2026
Window to reopen 48 hours after the official declaration of results
Compliance filing under SEBI (Prohibition of Insider Trading) Regulations, 2015

💡 Investors should monitor the exchange for the upcoming announcement of the board meeting date where the FY26 audited results will be considered.

OMDC Appoints Smt. Gita Balmuchu as Independent Director for 3-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 17 Jul 2026, 08:20 PM

The Orissa Minerals Development Company Limited (OMDC) has appointed Smt. Gita Balmuchu as a Non-Official (Independent) Director effective July 14, 2026. The appointment, directed by the Ministry of Steel, Government of India, is for a period of three years. This comes at a time when the company reports zero TTM revenue and a negative net worth of Rs -51 Cr, as it struggles to operationalize its mining assets in Odisha.

Appointment of Smt. Gita Balmuchu as Non-Official Director for a 3-year tenure
Appointment follows Ministry of Steel Order No. 1/1/2025-BLA dated July 14, 2026
Appointee brings 30 years of experience in social service and public life
Company is currently in a pre-operational phase with Rs 0 TTM revenue
Net worth stands at Rs -51 Cr with a debt of Rs 145 Cr

💡 Investors should focus on the operationalization timeline of the Belkundi mines rather than board changes, as the company remains non-revenue generating with significant accumulated losses.

View All ORISSAMINE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total sales from operations declined by 21.47% YoY, falling from INR 82.28 Cr in FY 2023-24 to INR 64.62 Cr in FY 2024-25. Other income also decreased by 10.08% from INR 7.10 Cr to INR 6.39 Cr.

Geographic Revenue Split

100% of operations and revenue are concentrated in Odisha, India, where the company's primary mining assets (Belkundi and Bagiaburu) are located.

Profitability Margins

Net Profit Margin plummeted from 3.43% in FY 2023-24 to -62.25% in FY 2024-25. The company swung from a profit of INR 2.82 Cr to a net loss of INR 40.22 Cr.

EBITDA Margin

Core profitability deteriorated significantly as Profit Before Tax (PBT) margin fell from -6.45% (INR 5.31 Cr loss) to -74.91% (INR 48.40 Cr loss) in FY 2024-25.

Capital Expenditure

Not disclosed in absolute INR Cr, but the company is investing in technological upgradation for the Belkundi mines and exploration work at the Bagiaburu Mine to access minable reserves.

⚙️ Operational Drivers

Raw Materials

Iron ore and Manganese ore reserves (primary mineral assets) represent the core of the company's operational value.

Import Sources

Domestic sourcing within Odisha, India, specifically from the company's own leasehold areas.

Capacity Expansion

Planned expansion through the operationalization of Belkundi mines via a Mine Developer and Operator (MDO) contract and ongoing exploration at Bagiaburu Mine to enhance minable capacity.

Raw Material Costs

Total expenses rose 26.1% YoY to INR 119.41 Cr in FY 2024-25, despite a 21.47% drop in sales, indicating high fixed costs and operational inefficiencies during the pre-production phase of major mines.

Manufacturing Efficiency

Labor productivity is currently low; employee count increased by 19.1% (from 178 to 212) while sales fell by 21.47%, reflecting a mismatch during the mine preparation phase.

📈 Strategic Growth

Growth Strategy

The company aims to reverse its INR 40.22 Cr loss by operationalizing the Belkundi mines through an MDO contract that includes technological upgrades. Additionally, exploration at Bagiaburu Mine is focused on accessing new minable reserves to scale production capacity.

Products & Services

Iron ore and Manganese ore.

Brand Portfolio

OMDC (The Orissa Minerals Development Company Limited).

Strategic Alliances

Strategic MDO contract for the operationalization and technological upgradation of the Belkundi mines.

🌍 External Factors

Industry Trends

The industry is shifting toward MDO (Mine Developer and Operator) models to leverage external technological expertise for mine operationalization, a strategy OMDC has adopted for Belkundi.

Competitive Moat

The company's moat consists of its long-term mining leases and mineral reserves in Odisha. However, this moat is currently underutilized due to operational delays and legal challenges, making its sustainability dependent on successful mine restarts.

Macro Economic Sensitivity

Highly sensitive to economic conditions affecting the mining and metals sector in India, which directly impacts demand and pricing for iron and manganese ore.

Consumer Behavior

Not applicable as the company operates in the B2B mining sector.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Mines and Minerals (Development and Regulation) Act, pollution control norms, and safety standards. Compliance with Schedule VII of the Companies Act 2013 is required for CSR, though OMDC was exempt in FY 2024-25 due to negative average profits.

Environmental Compliance

The company monitors material effluent and pollution problems as part of its Board-level oversight, though specific compliance costs were not provided.

Legal Contingencies

Significant pending litigation in the High Court at Calcutta: F.M.A. No. 939 of 2012 and F.M.A. No. 941 of 2012 (The Orissa Minerals Development Company Limited vs. Jai Balaji Industries Limited). An order was passed on 09.12.2025.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the timeline for mine operationalization and the company's ability to recover from a net loss of INR 40.22 Cr and accumulated losses that have prevented dividend payments.