The Orissa Minerals Development Company Limited announced the outcome of its board meeting held on 24th July, 2026, where the board considered and approved the audited standalone financial results for the financial year and quarter ended 31st March, 2026. During the fourth quarter ended 31st March, 2026, the company recorded revenue from operations of Rs. 2,899.50 Lakhs and posted a net loss after tax of Rs. 760.69 Lakhs. A comparative analysis reveals that revenue from operations increased by 40.71% sequentially from Rs. 2,060.57 Lakhs in the previous quarter (Q3 FY26), and surged by 331.51% compared to Rs. 671.94 Lakhs in the corresponding quarter of the previous year (Q4 FY25). Meanwhile, the net profit/loss moved from a net profit of Rs. 434.41 Lakhs in Q3 FY26 to a net loss of Rs. 760.69 Lakhs in Q4 FY26, representing a decrease of 275.10% QoQ, whereas on a YoY basis, the net loss narrowed by 75.98% compared to a net loss of Rs. 3,167.36 Lakhs reported in Q4 FY25.

The Orissa Minerals Development Company Limited (OMDC), established in 1918 and headquartered in Bhubaneswar, Odisha, is a Government of India enterprise and a subsidiary of Eastern Investments Limited, operating under the administrative control of the Ministry of Steel. The company is primarily engaged in the mining and production of iron ore and manganese ore, holding multiple mining leases in the Keonjhar district of Odisha around Barbil. During 2025, the company focused on navigating operational revivals, managing regulatory compliance, and addressing long-standing mining lease renewals for properties such as Belkundi and Bhadrasai, alongside resolving historical statutory liabilities.

For the financial year ended 31st March, 2025, the company reported total annual revenue from operations of Rs. 6,461.59 Lakhs and a total comprehensive loss of Rs. 4,105.47 Lakhs, reflecting the challenges of scaled-down active mining operations and high provisioning costs. Famous institutional investors and prominent entities holding stakes in the company during 2025 included Rashtriya Ispat Nigam Limited as the majority promoter holding 50.01% and Life Insurance Corporation of India (LIC) holding a notable institutional stake of 6.55%.