NMDC

~ ~ it "riT f'<=t ~1-s NMDC Limited

(1fl«f lRCIITT' (l;J \Jall) (A GOVT. OF INDIA ENTERPRISE)

~ Cfll~~cl~ : ~ 1f'R', 10-3-311~. ~ ~. l1RWl ~. ~~c;~-<~1=t>11=c; - 500 028. Regd . Office: 'Khanij Bhavan' 10-3-311/A, Castle Hills, Masab Tank, Hyderabad - 500 028. ~~~I Corporate Identity Number: L 13100TG1958 GOI 001674

No. 18( 1 )/2020- Sectt 7 th February 2020

1) The BSE Limited 2) National Stock Exchange of India Ltd., Phiroze Jeejeebhoy Towers. Exchange Plaza, C-1 , Block G, Dalal Street, Mumbai- 400001 Sandra Kurla Complex,

Sandra (El, Mumbai - 400 051 3) The Calcutta Stock Exchange

limited, 7, Lyons Range, Kolkata - 700001

Dear Sir / Madam.

Sub: Newspaper Publication of the Unaudited Financial Results for the quarter and nine months ended 31st December 2019

Ref: Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements} Regulations, 2015; NSE Symbol: NMDC; BSE Scrip Code: 526371

Please find attached the newspaper publication of the Unaudited Financial Results (Standalone and Consolidated) for the quarter and nine months ended 31 st December 2019 published in Financ ial Express (English). Yaartha (Telugu) and Swatantra Yaartha (Hindi} on 7111 February 2020.

This is for your information and records.

Thanking you

Encl: As above

Yours faithfully. NMDC Limited

Jk, A ardha Saradhi

Company Secretary

~I Phones: 040-23538713-21 (9 Lines), 23538723, 23538767 ~I Fax: +91-40-23538711

~-~I E-mail : hois@nmdc.co.in ~I Website : www.nmdc.co.in

Stand1lone

Quarter Nine Monlhs Ended Ended

Partlculal$ 31-Dec-19 31-Dec-19

Un-audtted Un-audited

Total Revenue from Operalioos 3,006.38 8,511.88

Net Prolil/(Loss) for the period (before tax, Exceptional, Extraordinary items and/or 1,647.26 4,640.87 discontinued operalioos)

Net Prolil/(Loss) for the period before tax (after Exceptional, Extraordinary items, and/or 1,647.03 4,640.25 discontinued operations)

Net ProfiV(Loss) for the period after tax (after 1,376.36 3,258.91 Exceptional and/or Extraordinary items)

Share of Loss of Assodates/JVs Non-Cootrolli Interest Profit oss Net Profil/toss after taxes, Non-CootrolHng 1,376.36 3,258.91 Interest and share of profit /loss of Associates

Total Comprahensive Income for the period {Comprising prolil/ (Loss) for the period (after tax) 1,377.00 3,260.44 and Other Comprahensive lnoome {after tax)) Paid up Equity Share Capital (Face value 306.19 306.19 Re.1/· each) Other Equity {excluding Revaluation Reserve as shown In the Balance Sheet of previous year)

Earnings Per Share (of Re. 1/· each) Basic (In Rs.) 4.50 10.64 Diluted (in Rs.) 4.50 10.64

(') The Earning per share {EPS) have been adjusted on account of buyback Notes:

Quarter Ended

31-Dec-18

Un-audtted

3,649.44

2,211.47

2,211.37

1,576.70

1,576.70

1,588.71

316.39

4.98 4.98

Consolidated

Year Quarter Nine Monlhs Quarllr Year Ended Ended Ended Ended Ended

31·Mlr·19 31-Dec-19 31-Dec-19 31·Dec·18 31·Mlr-19

Audtted Un-audtted Un-audtted Un-audtted Audtted

12,152.67 3,006.38 8,511.88 3,649.44 12,152.67

7,199.06 1,645.87 4,636.48 2,210.59 7,194.02

7,198.42 1,645.64 4,635.86 2,210.49 7,193.38

4,642.11 1,374.97 3,254.52 1,575.82 4,637.07

19.18 2.62 0.25 0.76

4,642.11 1,394.40 3,257.90 1,569.77 4,618.84

4,641.98 1,391.41 3,279.67 1,594.92 4,67128

306.19 306.19 306.19 316.39 306.19

25,645.34 25,737.81

(') (') 14.70 4.55 10.64 4.96 14.69 14.70 4.55 10.64 4.96 14.69

I) The Audit Committee has reviewed the above results and the same have been subsequently approved by the Board ol DirecloJS in the meelilg held oo s•February2020.

i) The unaudned financial results have been reviewed by the Slal\Jtory Audnors as required under Regufatioo 33 of Serurilies and Exchange Board of India {Listing O!Jligations and Disclosure Requirements) Regulations, 2015.

iiij PuJSuant to the requirements of SEBI {LODR) Regulations, 2015 (as amended), the company has published Consolidated Results for quarter ended 31st December 2019 ak>ng with the preceding quarter ended 30lh September 2019 and corresponding quarter ended 31st December 2018. The management has used prudent estimate and exercised necessary due-diligence to ensure that the financial results provide a true and fair view of its affaiJS.

iv) The financial results have been prepared in acoordance with the recognition and measurement principles of Ind-AS, preSClibed under Section 133 of the Companies Act, 2013 read with the relevant rules Issued there under and the other acoounting principles generally accepted in India.

v) Anamoontof Rs. 154.00 crore is provided towards Expecied Credit Loss (ECL) during the nine months period and included in otherexpensas.

vi) The Company had received Show Cause Notices dated 31.07.2018 from DisL Collector, South Baslar Dantewada as lo why NMDC shculd not be asked to deposit an amoonl of Rs. 7,241.35 crore as compensation as calculated by Collector based on the Hon'ble Supreme Court Common Cause Judgement related lo Ortssa Iron ore mines (Writ Petition Civil No 114 of 2014 dated 2nd August 2017). The Company had been oootesling the Show Cause Notices with Dist Collector, South Ba star Oantewada on the ground that the said Hon'ble Supreme Court judgement Is not applicable loNMOC.

Meanwhile. revised show cause notices daled 26.09.2019 were received for a revised amoont of Rs 1,623.44 Crore from Dist Collector, South Bastar, Dantewada, to be replied within 21 days of notice. NMDC while reiteralilg the fact of non-applicablfity of the Hon'ble Supreme Court Judgement In the Slate of Chhattisgarh, has sought time for replying to the show cause notices.

Further to above, Dist Collector, South Ba star, Oantewada had Issued Demand notices dated 15111/2019 for the amoont of Rs 1,623.44 Crore (Bacheli· Rs 1, 131.97 Cr& Klrandul Rs491.47 Cr) asking to depostt the amount within 15days.As the Mining Leases of the company In the State of Chhattisgarh are expiring on 31.3.2020 and due for renewal, the Company has paid an ad hoc amoont of Rs 600 Crore under protest and filed writ petitioos In the Hon'ble High Court of Bllaspur, Chhattlsgarh and a Revision application with Mines Tribunal, Ministry of Mines, Govemment oflndia, New Deihl praying to set aside the demand notices.

vii) The Govemment of Kamataka, While renewing the lease of NMDC's Oonimatai Iron Ore Mine, has imposed a new ooodition asking for a premium of 80% on the average sale value. As the demand of the State Govt. Is not as per the provisions of the MMDR Act 2015.and Mineral (Mining by Govemment Company) Rules, 2015, the company requested the Govt. to reconsider its decision. Since there was no positive response from the Slate Govt., the oompany has suspended its operations from 4th November 2018 and moved the Hon'ble High Court of Kamalaka praying for a sunable direction In the matter. The Hon'ble High Courtol Kamalaka in its judgement dated 10th July 2019 has passed an order setting aside the ooodition imposed for levyilg 80% premium. On the basis of the judgemen~ NMDC has requested the Slate Govt. toooosiderthe exerutlonof Lease Deed of Oonimalal Mine.

The Government of Kamalaka issued an Order dated 17.08.2019 withdrawing the approval for extension of the Oonimatai nining lease and with a direction to the Director of DMG to auction the said block. In this regard, the Company on 19.8.2019 filed 'Revision applicalioo' before The Hoo'ble Mines Tribunal, Govemment or India. Meanwhile, the State Govemment issued a notification dated 20.082019 inviting tender for auction of the Oonlmalal Mining block. On 21.08.2019 Hon'ble Mines Tribunal heard the submissions and stayed the Order dated 17.08.2019 issued by the Govemment or Kemalaka withdrawing the extension oflease and any oonsequentacUon thereon until the next date of hearing. The matter ls pendingwith Hon'ble Mines Tribunal.

Meanwhile, Ministry of Mines has amended the 'Mineral (Mining by Govemment Company) Rules, 2015 with regard to renewal or mining leases allocated to Govemment Companies. Earlier the rule 3 (2) slated that ff an application for renewal of mining teases is made to the Slate Govemment by a Govemment oompany, the State Govemment 'may, for reasons to be reoorded in writing, extend the period or the mining lease for fUrther periods up to twenty yeaJS at a time'. Now the rule is amended by substil\Jting the word 'may' with 'shall'. Now the rule reads as 'shall for reasons to be reoorded In writing, extend the period of mining lease forfUl1herperiods up to twentyyeaJS ala time'.

Even though theoompanyls regutariycorrespondingwith the Slate Goverrvnentforextending the lease, response of the Slate Govenvnent is stil awaited.

Yiiij The oompany elected tooptforthe reduced tax rate@25.17% Q.e. 22%+10% Surtharge+4% HEC) under section 1158Mof lnoome TaxAct 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019. Acoo<dingly the oompany has recognised provision for Income Tax and re-measured Deferred Tax Assets. The Impact of this change has been reoognlsed In the statement of Profit & Loss for the quarter ended 31"0ecember2019.

ix) The company has adopted Ind AS 116 'Leases' Effective from 1st April 2019 and applied the Standard to its leases using the modified retrospective approach and comparative information is not restated. This has resulled in recognising a Right-of-Use Assets and a corresponding Lease Llabiity or Rs.8.20 crore as al 1st April 2019. The impact on the profil for the period is not material.

x) The Board of01rectol$ has approved the flJSt Interim Dividend of Rs.5.29 per equity share of Re 1/·, for the financial year2019·2D.

xi) The above Is an extract or the detailed format or Quarterty Results fded with Stock Exchanges under Regulatk>n 33 of the SEBI (Listing Obligations and Olsdosure Requirements) Regulations, 2015. The fUll format ol Quarterty Financial Results are available on the Stock Exchange websites (www.nseindia.com and www.bseindia.com) and Company'swebsilewww.nmdc.oo.in.

Plaoe : Hyderabad Dated : 6th February 2020

For NMDC Umtted

SdJ. Amitava Mukherjee

Director (Finance) Din NO. 08265207

-Q\\.(w-{:~ l~ s')~v\£J& C:f{ c ')-\ 'U) w

Particulars 0\ - .

Total ReYetlue from Operations ' ' ~ Net ProfiV(Loss) for the period (betore tax, Excepliooal, Exttaoolinal)' nems and/or discontinued operallons Net ProfiU(Loss) for the period befora tax (aflaf Exceptional, ExtraonJinal)' items, and/or discontinued operations) Net ProfiV(Loss) fer the period aner lax (etter Excepllonel and/or Extraordinal)' items) Share of Loss of Associates/Na Non-COOtrollin Interest fit oss Net Profit/loss airer taxes, Non-Controlling Interest and share of profit /loss of Associates Total Comprehensive lnccme for the period {Comprising profiU (Loss] for the period (after tax) and Other Comprehensive Income (after tax)) Pald up Equity Sham Capital (Face value Re.1/- each] Other Equity (excklding Revaluation Reserve as ehown in Iha Balance Slleet cl previous year)

Quarter Ended

31·Dec·19

Un-audited

3,00s.38

1,647.26

1,647.03

1,376.36

1,376.36

1,377.00

306.19

Nine Months Quarter Year Quarter Nine Months Ended Ended Ended Ended Ended

31-0ec·19 31·Dec-18 31-Mar-19 31-Dec-19 31-Dec-19

Un-audtted Un-audited Audited Un-audited Un-audited

8,511.88 3,649.44 12,152.67 3,006.38 6,511.88

4,640.87 2,211.47 7,199.06 1,645.87 4,636.48

4,640.25 2.211.37 7,198.42 1,645.64 4,635.88

3,258.91 1,576.70 4,642.11 1,374.97 3,254.52

19.18 2.62 0.25) 0.76

3,258.91 1,576.70 4,642.11 1,394.40 3,257.90

3,260.44 1,588.71 4,841.98 1,391.41 3,279.67

306.19 316.39 306.19 306.19 306.19

25,845.34

Earnings Per Shara (of Re. 11· each) rl Basic (In Rs.] 4.50 1o.64 4.98 14.70 4.55 10.84 Diluted [111 Rs.) 4.50 10.84 4.98 14.70 4.55 10.84

Quarter Year Ended Ended

31-Dec-18 31-Mar-19

Un-audited Audited

3,649.44 12,152.67

2,210.59 7,194.02

2,210.49 7,193.3~ ,

1,575.82 4,637.07

1,569.77 4,618.84

1,594.92 4,671.28

316.39 306.19

25,737.81

('] . 4.96 14.69 4.96 14.69

(' ] The Earning pe• share (EPS) have been a~usted on account of buyback Notes:

" J

i] The Audit Cixnmittee has ravtewed the aboYe msults an<l the same hava been subsequently approved by the Board of Olractors In the ma~ting held on 6' Februal)' 2020 . .

II) The unaudilad financlel results have been reviewed by the StatlltOI)' Auditors as mquirad under Regulation 33 of Securities and Exchange Board of India (Ustlng Obligations and Disclosure Requiremeols) Regulations, 2015.

mi PIJrsuanl IO the mquiremehts of SEBI (LODR) Regulations, 2015 (aaamended), the ccmpany has published Coosolldaled Results for quarter ended 3151 Decemller 2019 along with the preceding quarter ended 30th September2019 and corresponding quarter end ad 31st December 2018. The manage men! has used prudent estimate end exercised necessal)' due-diligence to ensure that the flnanclal rllS'!lts provide a lrueand fa~vlew of Its affairs. •

iv) The financial resulls have been prepared in accordance with the recognition and measurement principles of Ind-AS, presaibe~ under Section 133 of the Companies Act, 2013 read with the mlevantrulesissued there under and the other accounting principles generallyacceptad In Ind la.

v) AnamountofRs.154.00croreisprovlded towardsExpectedCradilloss(ECL)durlnglheninemonlhsperio<landincludedinolherexpenses. vij The Company had received Show Cause Notices dated 31.07.20t8 from DlsL Collector, South Bastar Dantewada as to why NMDC should not be asked to

deposit an amount of Rs.7 ,241.3& crore as compensation as calculated by Collector basad on the Hnn'ble Supreme Court Common Cause Judgemepl related lo Orissa Iron ore mines (Writ Petition Civil No 114 of20f4 dated 2ndAugusl2017). The Company had been contesting the SllowCause Noli~ • with DisL CoDector, South BastarDantewada on the ground that the said Hon'ble Sup_reme Court judgement is not applicable lo NMDC. Meanwhile, revised show cause notices dated 26.09.2019 were received for a ravlsed amount of Rs 1,623.44 Crore from Dlsl Collector, South Basia!, Dantewada, lo be raplled wilhlll 21 days of nollce. NMDC while reiterating Iha fact of non-applicability of the Hon'ble Supreme Court Judgement In the 1 StateofChhattisgarll,hassoughtlimeforreplyingtotheshowcausenotices. Further to aboYe, DlsL Collector, South Bastar, Dantewada had issued Demand notices datad 1511112019 for the amount of Rs 1,623.44 Crore (Bacheli·

"Rs 1, 131.97 Cr & Klrandul Rs491.47 Cr) asking to deposit the amounl within 15 days.As the Mining Leases of the company lnlhe Stale olChhatusgath are expiring on 31.3.2020and due for renewal, the Company has paid an adhocamounl of Rs600 Crore uoderprotesland fded wril petitions In the Hon'ble ' High Court of Bilaspur, ciihallisgath and a Revision application with Mines Tribunal, Ministry of Mines, Governmentoflndia, New Delhi praying to set aside' thedemandnollces.

vii] The Government of Kamataka, while rAnewing the lease of NMDC's Donimalai Iron Ore Mine, has Imposed a new condition asking for a premium ol 60% on the a~rage sale val\Je. As the demand ollhe Stale Govt. ls not as per the provisions of the MMDRAcl2015 and Mineral (Mining by Government Compar>)I) Rules, 2015, the ccmpany requested the Govl to reconsider its decision. Since there was no positive response from the State Govt., lhe company has suspended ils operations from 4th November 20t 6 and moved the Hon'ble High Court of Kamataka praying for a suitable direction In the matter. The Hon'ble High Court of Karnalaka In its judgemenf daled 1 Olh July 2019 has passed an order setting aside lhe ccndlllon imposed for levying 80% premium. Onlhe basis of the judgement, NMDC has mquested the Sta la Govt. lo consider the execution of Lease Deedof Donirnelal Mine. The Gover~menl of Kamataka Issued an Onler dated 17.08.2019 withdrawing the approval for exlenslon of the Oonlmalai mlnlng lease and with·a direction lo the Olreciorol DMG lo auction the said block. In this regard, the Company on 19.~.2019 rded 'Revision application' before The Hon'ble Mine!- { Tribunal, Government of India. Meanwhile, the Stale Government issued a notification dated 20.08.2019 lnviling lender for auction of the Donimalal Mining block. On 21.08.2019 Hon'ble Mines Tribunal heard the submissions and stayed the Order dated 17.08.2019 Issued by the Govemment or Kamataka withdrawing the extBllSlon of lease and any conseq\Jantaclion thereon unlil the next data of hoartng. The matter ls pending with Hon'ble Mines Tribunal. Meanwhile, Ministry of Mines has amended Iha 'Mineral (Mining by Govemmenl Company) Rules, 2015 with regard to renewal of minlng leases allocai.id to Governmenf Companies. Earlier the rule 3 (2) stated that if an application for renewal of minlng leases Is made to the State Government by a Govammenl ccmpany, the Stale Govemnent "may, for reasons lo be mccrded In wr1Ung, extend Iha period of the mining lease tor further periods up lo twenty years al a line'. Now the rule is amended by substituting the word 'may' with 'shall". Now the rule reads as 'shall for reasons to be reccrded in writing, extend the period of mining lease forfurtherperiods up to twenty years at a lime'. ' EvenlhollghthecompanylsregulartycorrespondingwilhlheSteleGovernmenllorexlendingthelease,responseoftheStateGovemmenlisslillawalted.

vii)\he ccmpanyeleded IOopl for the reduced taxrate@25.17% ~.e. 22%+10%Surcharge+~% HEC) under section 115BAAol Income TaxAct,1961 as Introduced by lhe Taxation Laws (Amendment) Ordinance, 2019. Accordingly the company has reccgnlsed provision for Income Tax and re-measured DeferredTaxAssets.Theirnpactolthischangellasbeen racognisedinthestalemenloff'Tofil&Lossforthequarterended31• oecember2019.

Ix) ;The company has adopted Ind AS 116 'leases' Effective front 161April 2019 and applied the Standard lo Its leases using the modified retrosj,ectJve approach and ccmparallve lnlormallon is not restated. This has resulted In recognising a Rlght-of-Use Assets and a corresponding Lease Liabllily of Rs.6.20 croreas at 1st April 2019. The impac1on the prof rt for the period Is nohnalerial. • -

x] The Board olEllrecuxs has approved the first Interim Dividend of Rs.5.29 perequilyshara of Re 1/-, for the financial Y"'!r2019-20. xi) The above ts an e~l of the detaied format of Quarterly Results flied wit)l Stock Exchanges under Regulation 33 of Iha SEBI (Listing Obligations and

Disclosure Requirements) Regulaliorls, 2015. :rhe full formal of Quarterly Financial Results are ava~able on the Stock Exchange websites (www.nselndla.ccmandwww.bseindla.com)andCompany'swebsltewww.nmdc.cc.ln. ' · • •

For NMDC Limited

Place : Hyderabad Dated : 6th February 2020

Sdl· Amltava Mukherjee

Director (Finance) Din NO. 08265207

\JetS:J-S,,~ C .1{ C, <), \ ·;,G~

31-~19 31·~·19 31-~·18 31· -19 31·~·19 31·~·19 31·~·18 31· ·19 ===&== 3,006.38 8,511.88 3,649.44 12.152.67 3,006.38 8,511.88

19.18 2.62 6.23 19.12 (0.25) (0.76) (0.18) (0.69)

i!R, ~ l2ITTi! mil -mtl!i!i ~ ;t; 1376 38 3 '58.91 1576 70 4 64211 139440 3 °57.90 156977 4 618 84 <W!ltm'liti~ <ti1ITT'f.nffi<W11tmll . . ,... ' . ' . ' . ,... ' . ' . ~~f.111<JiM~3ITTl(~tf.111 ~ tmlR! Oll'IT/~) ll'lT 3RI ~ 3l1ll 1,377.00 3,260.44 ·1,588.71 4,641.98 1,391.41 3,279.67 1.594.92 4,671.28 (ilR 'lfilm)

306.19 306.19 316.39 306.19 306.19 306.19 316.39 306.19

25,645.34 25,737.81

~ oo aruf'I~ ~ 11- il>l) ('J 1i"f ~ -q) 4.50 10.64 4.98 14.70 ~ ~ ~) 4.50 10.64 4.98 14.70

4.55 4.55

10.64 10.64

4.96 4.96

(') 14.69 f 14.69

I

~~ ~6~.2020

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