Author: Neel Achary

NMDC Steel Turns Profitable in FY26; Records Best-Ever Production and Sales

Production Up 62%, Sales Rise 74%; Company Reports Positive PAT, PBT and EBITDA

                                   *Production & Sales in Metric Tonnes and Financials in Rs. Crore 

Hyderabad, May 30, 2026: NMDC Steel Limited (NSL), one of India’s youngest integrated steel producers, has announced its financial results for FY26.  NMDC Steel Limited (NSL) delivered a landmark performance in FY26, achieving profitability and registering best-ever production and sales during the year, while also recording its best-ever quarterly performance in Q4, FY26.

NMDC Steel recorded its highest-ever annual production of 23.25 lakh metric tonnes and sales of 24.55 lakh metric tonnes during FY26, registering growth of 62% and 74% respectively over the previous year. The strong operational performance reflects improved capacity utilisation, enhanced efficiencies and growing market acceptance of NSL’s products across key sectors.

NSL has now achieved average capacity utilisation of 80% of its rated production capacity within two years of commencing its operations, marking a significant milestone in the operational stabilisation of the Nagarnar Steel Plant. This achievement places NSL among the fastest ramp-ups witnessed in the Global Steel Industry for a greenfield integrated steel project.

NSL also delivered its best-ever quarterly performance during Q4 FY26, with production rising 45% year-on-year to 6.42 lakh metric tonnes and sales increasing 40% to 7.03 lakh metric tonnes, underscoring the growing operational strength and market presence of the company.

The operational gains translated into a strong financial performance, with turnover increasing 60% year-on-year to Rs.13,642 crore. This robust growth reflects improved capacity utilisation, stronger market penetration and the growing acceptance of NSL’s high-quality steel products across key sectors.

Most significantly, FY26 marked a complete turnaround in NSL’s profitability. Profit After Tax (PAT) stood at Rs. 58.72 crore in FY26 against a loss of Rs. 2,373 crore in the previous year. Reflecting the strength of this turnaround, Q4 FY26 PAT improved to Rs. 391 crore from a loss of Rs. 473 crore in the corresponding quarter last year.

NMDC Steel closed FY26 on a strong note, delivering its best-ever quarterly production and sales alongside a significant improvement in operational performance. Turnover for Q4 FY26 increased 37% year-on-year to Rs. 3,879 crore, while EBITDA stood at Rs. 832.09 crore against a negative EBITDA of Rs. 271.51 crore in the corresponding quarter last year.

Commenting on the results, Shri Amitava Mukherjee, Chairman and Managing Director, NMDC Steel Limited, said: “FY26 marks a defining year in NMDC Steel’s journey. Achieving profitability, recording our highest-ever production & sales and reaching nearly average capacity utilisation of 80% within two years of operations reflect the successful stabilisation of the Nagarnar Steel Plant. As we continue to improve efficiencies, expand our product portfolio and strengthen our market presence, we remain committed to progressing towards full capacity utilisation of NMDC Steel Plant, while supplying high-quality steel products that contribute to India’s infrastructure and industrial development.”

The achievements of FY26 mark an important milestone in NSL’s growth journey. With operations stabilised, profitability achieved and market presence continuing to expand, NMDC Steel is well-positioned to build on this momentum and create long-term value for its stakeholders in the years ahead.

CIMP-BIIF and Annapurna Finance Private Limited Sign MoU to Strengthen Capacity Building in the Microfinance Sector

Patna, 30 May 2026: Chandragupt Institute of Management Patna – Business Incubation and Innovation Foundation (CIMP-BIIF) and Annapurna Finance Private Limited (AFPL), one of India’s leading microfinance institutions, signed a Memorandum of Understanding (MoU) today to collaborate in the areas of professional training, capacity building, and skill development for employees working in the microfinance sector.

The partnership aims to enhance the knowledge, skills, and competencies of microfinance professionals through industry-oriented training programmes. Under the MoU, CIMP-BIIF and AFPL will jointly design and deliver training modules focusing on microfinance operations, regulatory compliance, customer relationship management, and best practices in financial inclusion.

The collaboration will also focus on developing leadership capabilities, problem-solving abilities, decision-making skills, and effective time-management practices among employees. Participants will benefit from hands-on learning through practical modules, case studies, simulations, and experiential learning approaches designed to bridge the gap between theory and practice.

Dr. Rana Singh, Director, Chandragupt Institute of Management Patna (CIMP), said:

“At CIMP, we are committed to fostering meaningful industry-academia collaborations that create value for organizations and society alike. This partnership with Annapurna Finance Private Limited reflects our vision of strengthening the financial inclusion ecosystem through knowledge, innovation, and capacity building. We are confident that this initiative will contribute significantly to enhancing professional excellence and leadership capabilities in the microfinance sector.”

Speaking on the occasion, Shri Kumod Kumar, CEO, CIMP-BIIF, said, “This partnership reflects our commitment to building a skilled and future-ready workforce for the financial inclusion ecosystem. By combining academic excellence with industry expertise, we aim to create impactful learning experiences that enhance professional competence and organizational effectiveness.”

Professor Sunil Kumar, Associate Dean (Academics), CIMP, stated, “The microfinance sector plays a critical role in promoting inclusive growth and economic empowerment. Through this collaboration, we seek to provide high-quality training interventions that strengthen operational excellence, leadership capabilities, and customer-centric service delivery among professionals in the sector.”

Mr. Subrat Sabyasachi Roy, Head – Strategy, Annapurna Finance Private Limited, remarked, “Continuous learning and capability enhancement are essential for sustaining growth and delivering greater value to our clients. We are pleased to partner with CIMP-BIIF to develop structured learning programmes that will support employee development and contribute to the long-term success of the microfinance industry.”

The MoU marks an important step towards fostering industry-academia collaboration and promoting excellence in professional development within the financial inclusion and microfinance ecosystem.

Can World Cup Soccer Help Get More Kids Moving

 As 48 national soccer teams converge on North American cities this summer to train for the 2026 FIFA World Cup, the stakes might go well beyond who wins or loses.

These teams will spur what psychologists call the “demonstration effect.” When young people witness elite athletes perform, especially in high-profile events close to home, they feel inspired to join the sport or get more active – the demonstration effect.

And that could make a huge difference in the health of the younger generations, said Abbie Wrights, associate teaching professor of Health and Exercise Science at Wake Forest University. 

Guidelines from the Centers of Disease Control and Prevention and the World Health Organization advise that children and adolescents ages 6-17 years should do at least one hour of moderate to vigorous physical activity daily. Think tossing a ball around or martial arts or even team sports.

According to numerous research studies, Wrights said, those 60+ minutes per day deliver not only physical health benefits, including stronger hearts and bones, but also mental health benefits such as:

• Less stress and better moods.
• Reduced anxiety and depression.
• Improved attention, focus and classroom behavior.
• Better social skills and sense of belonging.

But 80% of young people worldwide won’t see those benefits, because they don’t engage in enough daily physical activity, according to the World Health Organization. 

Seeing a World Cup soccer athlete play could change that, said Wrights, a certified clinical exercise physiologist through the American College of Sports Medicine. The research shows that:

• Young people who identify elite athletes as role models are twice as likely to participate in sports.
• 43% of youths surveyed by the Aspen Institute’s Project Play said they would join a sport if it was fun, a key aspect of live sporting events.
• 18% percent of children surveyed in another study said elite athletes were their role models for physical activity, second only to their friends.

“I don’t think the goal is to inspire every kid to be a professional soccer player, but I think it can inspire them to move and want to be involved – play in their backyard, play on the playground, maybe join a recreational team,” she said. 

As the mother of three soccer enthusiasts, she sees the benefits in terms of exercise. But she also appreciates how playing the game helps her children regulate emotions, make new friends and learn lessons about hard work that transfer to areas like school and relationships. 

The students in her first-year seminar at Wake Forest, “The Culture of Youth Sports,” often talk about how elite athletes have inspired them. Wrights says having World Cup players in Winston-Salem, Greensboro, Charlotte and around the U.S., Canada and Mexico likely will amplify that inspiration.

It becomes more real when it’s happening nearby, and all the benefits of that demonstration effect start trickling down. Witnessing the kind of hard work and dedication it takes to compete at the World Cup level can evolve into good habits in so many other facets of life, she said: “If I can work hard in a sport, I can work hard in school. I can work hard in my friendships. I can work hard in my volunteer opportunities. Kids who play sports definitely do better in school, so there is that academic transfer as well.” 

Picking up the ball after the World Cup

So what happens when the World Cup wraps up, the local training sites close down and the teams head back to home base? 

Wrights said it’s up to each community to keep the momentum going. The demonstration effect won’t lead to actionable change unless the parents start to kick the ball around with their kids in the backyard or recreational teams boost their recruitment outreach or coaches find ways to engage and retain young athletes of all skill levels.  

In fact, research has shown that the demonstration effect is most likely to take root in communities that invest in organizations and facilities that support youth sports engagement.

“We don’t want to let that excitement fade,” Wrights explained. “We want to feed into it by then giving children and adolescents opportunities to get involved. The World Cup is only a starting point.”

Wake Forest University and the Graylyn Estate are hosting the German National Team beginning June 8 as it trains for the FIFA World Cup 2026™.

World-First Focused Ultrasound Equine Clinical Trial Underway

 A research team at the Virginia-Maryland College of Veterinary Medicine has begun a world-first clinical trial exploring the use of focused ultrasound to treat sarcoid tumors in horses.  

Sarcoids are the most common form of equine skin tumor, and though they are benign, they are invasive and can pose a serious health risk to nearby vital structures or become infected. Current treatment options include surgical excision, chemotherapy, and radiation therapy, but these treatments can be limited by anatomic location, and recurrence is common. If left untreated, horses with sarcoids can require euthanasia due to poor quality of life.  

The trial, led by Sophie Bogers, PhD, DACVS, assistant professor in the Department of Large Animal Clinical Sciences, will explore the safety and feasibility of using histotripsy – a non-thermal method of using focused ultrasound to mechanically destroy targeted tissue – to treat equine sarcoid tumors. The team will use a histotripsy system customized to treat shallow targets. The study parameters were developed based on the Virginia Tech team’s positive results using a similar method to treat canine and feline soft tissue sarcomas. Following the histotripsy treatment, the research team will surgically remove the sarcoids to assess the tumor’s immune response to the treatment.    

In all five horses will be enrolled. The first participant was treated earlier this month. 

“We are so fortunate to be able to study histotripsy as an emerging therapy for horses,” said Dr. Bogers. “Sarcoids have long been a clinical frustration for veterinarians and owners, alike. The horses seem to tolerate treatment extremely well, and I am excited to develop it into a viable option for horses suffering from these tumors.” 

This trial is being funded by the Focused Ultrasound Foundation and represents an important milestone in the Foundation’s Veterinary Program. Histotripsy treatment costs are covered by the clinical trial. Tumors will be surgically removed 24 hours after treatment by a board-certified equine surgeon (Dr. Bogers). Owners are responsible for travel expenses. 

Horses represent both unique challenges and opportunities within veterinary medicine, and we have been interested in bringing focused ultrasound to this patient population since the inception of the Veterinary Program. There are many unmet clinical needs both in oncology and regenerative and sports medicine that focused ultrasound could address. 

Named a Focused Ultrasound Center of Excellence earlier this year, Virginia Tech’s program spans departments, disciplines, and geography (Roanoke, Blacksburg, and Washington DC) with the potential to impact human and animal lives in areas of critical unmet need such as neurological disorders and hard-to-treat cancers. 

How to Participate   Ideal candidates for this trial are horses diagnosed with sarcoids located on the trunk, abdomen, or neck, with no previous treatment of the tumor within 6 months. 

Shreyas WebMedia Solutions Participates in Startup Odisha Interactive Session on Building a Stronger Entrepreneurial Ecosystem

Bhubaneswar, May 30: Shreyas WebMedia Solutions Pvt. Ltd. participated in an interactive session with Shri Smruti Ranjan Pradhan, IAS, Chief Executive Officer, Startup Odisha, Government of Odisha, held on May 29, 2026, at the IDCO Conference Hall, 5th Floor, IDCO Towers, Janpath, Bhubaneswar. The programme was jointly organized by World Trade Center (WTC) Bhubaneswar and Startup Odisha, bringing together entrepreneurs, startup founders, business leaders, innovators, and industry stakeholders to deliberate on the growth and future of Odisha’s entrepreneurial ecosystem.

The session served as an important platform to familiarize participants with the initiatives and interventions undertaken by Startup Odisha to promote innovation, encourage entrepreneurship, and strengthen the state’s startup ecosystem. Discussions focused on government policies, startup funding opportunities, incubation support, innovation-led business development, and strategies for positioning Odisha as a leading destination for startups and emerging enterprises.

Addressing the gathering, Shri Smruti Ranjan Pradhan shared insights into the evolving startup landscape in Odisha and highlighted the support mechanisms available to entrepreneurs at various stages of their journey. Emphasizing the importance of collective efforts in building a vibrant entrepreneurial ecosystem, he stated, “A thriving startup ecosystem cannot emerge in isolation; it requires collaboration, incubation, and a strong foundation of education.”

He further underscored the need to nurture innovation from an early age, strengthen incubation infrastructure, and create an enabling environment where young entrepreneurs can transform ideas into sustainable enterprises. The discussions also explored emerging opportunities in sectors such as manufacturing, agritech, and technology-driven businesses, which are expected to play a significant role in Odisha’s economic growth.

Dr. Ashwini Kumar Rath, CEO, Batoi Systems, attended the programme as the Chief Guest, emphasizing the importance of stronger partnerships among industry, startups, academia, and government institutions in driving innovation-led growth. 

He highlighted that a collaborative ecosystem is essential for nurturing entrepreneurship, accelerating technological advancement, and creating sustainable opportunities for emerging enterprises. Dr. Rath further stressed that continuous knowledge-sharing, mentorship, and strategic partnerships will play a crucial role in accelerating Odisha’s journey towards becoming a leading innovation hub and contributing to the state’s long-term economic development.

Representing Shreyas WebMedia Solutions Pvt. Ltd., senior management team Ms. Bhumika Lenka  and Ms. K. Puspa attended the event. The representatives actively engaged in the interactive discussions and networking sessions, gaining valuable insights into entrepreneurship, startup development, innovation ecosystems, and emerging business opportunities within the state.

The programme facilitated meaningful exchanges between government officials, industry experts, entrepreneurs, and startup stakeholders, fostering dialogue on collaboration, innovation, and ecosystem development. The interactive format enabled participants to share perspectives, seek guidance, and explore potential partnerships that can contribute to Odisha’s growing startup landscape.

The event reinforced Odisha’s commitment to building a robust innovation ecosystem and empowering entrepreneurs through policy support, mentorship, incubation, and access to growth opportunities. It also highlighted the collective efforts being undertaken to realize the vision of a progressive, innovation-driven, and economically prosperous Odisha.

Mumbai Emerges as India’s Most Diverse Fresher Hiring Hub in 2026

While several Indian cities are emerging as specialised talent hubs, Mumbai continues to distinguish itself through the breadth of opportunities available to freshers. According to TeamLease EdTech’s recent findings, employer demand in the city spans healthcare, media & entertainment, technology, retail, and digital commerce, making Mumbai one of the country’s most diversified employment markets for early-career talent.

The findings reveal that Mumbai records the highest demand nationally for Broadcast Operations Assistants, with 46% employer intent to hire for the role. This reflects the city’s continued importance as India’s media and entertainment capital, where content production, broadcasting, and digital media operations continue to generate opportunities for young professionals.

At the same time, Mumbai is witnessing strong hiring demand across healthcare and life sciences. Clinical Research Associates emerged among the city’s most sought-after fresher roles, with 45% employer intent to hire. The trend highlights the growing importance of clinical research, healthcare services, and pharmaceutical operations in Mumbai’s employment landscape.

Technology hiring also remains robust. TeamLease Edtech also found that 45% of employers in Mumbai intend to hire Software Testing Engineers, while 40% are looking for DevOps Support Engineers. As businesses accelerate digital transformation initiatives, demand is rising for fresh talent equipped with software quality assurance, cloud infrastructure, automation, and digital operations skills.

The city’s consumer economy is also creating new opportunities. Mumbai reported 57% demand for Dark Store Assistants, among the highest hiring intentions recorded across roles and cities. The growth reflects the continued expansion of quick commerce platforms and urban fulfilment networks that are reshaping retail operations and last-mile delivery ecosystems.

What makes Mumbai unique is not the dominance of a single industry, but the coexistence of multiple growth sectors. Freshers entering the city’s workforce can find opportunities across media, healthcare, technology, retail, logistics, and customer-facing operations, often within the same employment ecosystem.

The report also points to a broader transformation in hiring practices, with employers increasingly prioritising practical skills, digital fluency, certifications, and workplace readiness over traditional academic credentials alone. As a result, employability is becoming more closely linked to industry-relevant capabilities than to degree specialisations.

As India’s hiring market evolves, Mumbai’s diversified employment base positions it as one of the most resilient and opportunity-rich destinations for fresh graduates. The city’s ability to generate demand across both traditional industries and emerging digital sectors reinforces its role as a critical gateway for early-career talent in 2026.

RHI Magnesita India Hits INR 4,000 Over Crore Revenue with Strong Cash Flow & Resilient Growth

Gurugram,  May 30:  RHI Magnesita India Limited, the  manufacturer and supplier of high-grade refractory products, systems and solutions, has reported audited consolidated financial results for the year ended March 31, 2026 (FY2026)

Commenting on the results, Parmod Sagar – Chairman, MD & CEO of RHI Magnesita India Ltd. said, 

“FY26 reinforced the importance of resilience, agility, and disciplined execution in a dynamic environment. Despite pricing pressures, excess industry capacity, inflationary trends, intense competition, and evolving geopolitical developments leading to elevated energy and freight costs, we have delivered a resilient performance while strengthening our long-term strategic positioning.

Structural growth drivers across the steel and cement sectors continue to create opportunities for the refractory industry, particularly for technology-led and sustainability-focused solution providers. We advanced our competitive edge by de-commoditizing refractory business through the 4PRO model, offering integrated, value-added solutions that enhance price realization, deepen customer integration, and improve long-term contract visibility”.

Key Financial Highlights – FY26:

·Revenue from operations at ₹4,020 Crore (+9% YoY)

·Shipment Volumes at 523 KT (+5% YoY)

·Adjusted EBITDA at ₹477 crore

·Adjusted PAT at ₹180 crore

·Net Debt/EBITDA turning negative at -0.1x

·Operating cash flows at ₹409 crore

Excluding one-time exceptional impact of impairment of goodwill (Management has recognized it considering the geopolitical situation and over-capacity in market) and employee costs on account of change in New Wage Code