Annual Report 2025 - 26 and Notice of 11th AGM and related information.

No. 18(2)/2026/75 6th September 2026 BSE Limited National Stock Exchange of Calcutta Stock Exchange Phiroze Jeejeebhoy India Limited Limited Towers, Exchange Plaza, C- 1, Block 7, Lyons Range, Dalal Street, G, Bandra-Kurla Complex, Murgighata, Dalhousie, Mumbai – 400001 Bandra (East), Mumbai – Kolkata, West Bengal – Scrip ID: 543768 400051 700001 Scrip ID: NSLNISP Scrip ID: 74920 Dear Sir / Madam, Sub: Annual Report 2025 - 26 and Notice of 11th AGM and related information. Ref: Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This is with reference to our earlier intimation dated 24th August 2026, communicating the date of 11th Annual General Meeting (AGM) of the members of the Company scheduled to be held on Monday, 28th September, 2026 at 03:30 P.M. (IST) through video conferencing (VC) / other audio-visual means (OAVM), without physical presence of members at a common venue. In compliance with the provisions of the Companies Act, 2013 read with circulars issued by Ministry of Corporate Affairs and SEBI, from time to time, the Notice of 11th AGM along with the Annual Report 2025 - 26 has been sent through electronic mode to all the Members who have registered their email addresses with the Company / Depositories / RTA. Further, Members of the Company holding shares either in physical form or in dematerialized form, as on the Cut-off date i.e., 21st September, 2026, shall be provided with the facility to exercise their right to vote by electronic means (e-voting) on all the resolutions set forth in the Notice of 11th AGM. The remote e-voting period begins on Thursday, 24th September, 2026 (0900 Hrs) and ends on Sunday, 27th September, 2026 (1700 Hrs). Voting rights of members shall be in proportion to their shares in the paid-up equity share capital of the Company as on the cut-off date. The Annual Report of the Company for the financial year 2025-26 inter-alia containing the Notice of 11th AGM, financial statements for the financial year 2025-26, Auditors' Report thereon, Board's Report and other documents including Business दूरभाष /Phones: 040-235387 13-21 (9 Lines), 23538723, 23538767 फैक्स /Fax: +91-40-23538711 ई-मेल E-mail: hois@nmdc.co.in वेबसाइट Website: www.nmdc.co.in Responsibility & Sustainability Report etc., are enclosed herewith and hosted on the Company's website at the link: NSL_Annual_Report_2025-26. The details on casting vote electronically and attending the AGM through VC/OAVM have been set out in the Notes to Notice of 11th AGM. You are requested to please take note of the same. This is for your information and records. Thanking you Yours faithfully For NMDC Steel Limited Paraj Kanti Saha Company Secretary & Compliance Officer Encl.: as above. दूरभाष /Phones: 040-235387 13-21 (9 Lines), 23538723, 23538767 फैक्स /Fax: +91-40-23538711 ई-मेल E-mail: hois@nmdc.co.in वेबसाइट Website: www.nmdc.co.in 11THANNUAL REPORT 2025-26 A JOURNEY BEYOND STEEL TRANSFORMING PROGRESS INTO VALUE Shri Sandeep Poundrik, IAS, Secretary, Ministry of Steel reviewing NSL’s performance at Nagarnar, Chhattisgarh. Shri Sandeep Poundrik, IAS, Secretary, Ministry of Steel along with CMD and Functional Directors of NSL inspecting Sinter Plant operations at NSL. Shri Amitava Mukherjee, CMD, NSL along with Functional Directors & Senior Executives of NSL inspecting Coil Yard. Shri Amitava Mukherjee, CMD, NSL along with Functional Directors inaugurated the Herbal Garden which is in the centre of NSL plant premises. Corporate A JOURNEY - 035 Overview 04 Business Highlights 20 Competitive Advantages BEYOND STEEL 05 About Us 21 Risk Management 06 Key Milestones 22 Health and Safety TRANSFORMING PROGRESS INTO VALUE 08 Chairman’s Message 24 Our People 10 Our Offerings 26 Environment 12 Operational Excellence 30 Social India’s steel sector stands at the heart of the 15 Customer Engagement 32 Governance nation’s development, carrying forward a legacy 16 Integrated Steel-making Value Chain 34 Board of Directors of industrial strength while laying the foundations 18 Growth Strategy 35 Management Team for a more ambitious future. As India advances towards the vision of ViksitBharat, steel is enabling new infrastructure, industries and opportunities Table of across the country. At NMDC Steel Limited (NSL), Contents we are proud to be part of this transformation, contributing meaningfully to India’s growth story. What began as an ambitious vision Our integrated configuration, assured has, within a short span, evolved into access to high-grade iron ore, a competitive steelmaking enterprise. strategic logistics connectivity and FY 2025-26 marked a decisive disciplined procurement provide a inflection point, as NSL achieved strong foundation for competitive profitability within just two years of manufacturing. Alongside these Statutory Financial 036 151 commencing operations, alongside advantages, we are investing in - - its highest-ever production of 2.3 people, customer understanding, 150 Reports 220 Statements MT and sales of 2.4 MT. These safety and responsible resource achievements reflect the commitment use, from recycling water and 36 Board’s Report for the FY 2025-26 Comments of the C&AG of our people, sharper execution and recovering energy to reusing by- 151 on Financial Statements our operational capabilities. products and developing green belts 58 Management Discussion & Analysis 154 Independent Auditors’ Report across the Plant. During the year, TSC-1 successfully 71 Report on Corporate Governance 170 Balance Sheet executed its first online grade The next chapter is about sharper transition from IS 10748 Grade 1 (K), execution, wider market relevance, 90 Business Responsibility & 171 Statement of Profit and Loss Sustainability Report a low-carbon steel, to E250Br, a greater resource productivity 172 Statement of Changes in Equity medium-carbon steel. By precisely and stronger capabilities across 145 Secretarial Audit Report 173 Statement of Cash Flows synchronising casting parameters the enterprise. As we advance, in real time, the team enabled our ambition is not defined by 175 Notes to the Financial Statements a seamless transition without volume alone, but by the value we sequence breaks or tundish changes, create through better products, demonstrating how technology and more efficient processes, trusted operational expertise can translate partnerships and meaningful into greater flexibility and efficiency. contributions to the region - Notice and the nation. 221 11th AGM Notice 2025-26 Annual Report 2025-26 04-35 36-150 151-220 NMDC Steel Limited Annual Report 2025-26 Corporate Overview Statutory Reports Financial Statements Business Highlights About Us An Integrated Steelmaking Enterprise Commissioned in 2023 following the demerger of the 3 MTPA greenfield Integrated Steel Plant at Nagarnar, Chhattisgarh, NMDC Steel Limited (NSL) is building a modern steel manufacturing platform with strategic advantages across the value chain. Located close to NMDC’s Bailadila mines, which are a source of high-grade iron ore, the Plant is connected to the Visakhapatnam seaport by rail and road, providing an efficient link between raw material supply and markets. NSL is a Government Company under the Administrative Control of the Ministry of Steel, Government of India, with its shares listed on the BSE, NSE and Calcutta Stock Exchange. Our state-of-the-art 3.0 MTPA steel plant at Nagarnar is equipped with advanced production facilities and modern mills, Operational Financial Production enabling us to manufacture high-grade Hot Rolled steel for a diverse range of consuming sectors. Since commencing commercial production of HR Coils on 31 August 2023, we have established a growing presence in the Hot Rolled steel J market, supported by our focus on product quality, operational discipline and customer requirements. 4,506 13,642 23.24 m3 Crore lakh tonnes As we build on this progress, our ambition is to create a resilient steel enter [Showing first 8,000 characters — download PDF for full document]