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Gujarat Mineral Development Corporation Ltd

₹ 5720.35%
14 Jan – close price
🔗gmdcltd.com•BSE: 532181•NSE: GMDCLTD
Market Cap₹ 18,201 Cr.
Current Price₹ 572
High / Low₹ 651
Stock P/E27.6
Book Value₹ 210
Dividend Yield1.76 %
ROCE14.2 %
ROE11.0 %
Face Value₹ 2.00
Sales₹ 2,700 Cr.
OPM19.6 %
Mar Cap₹ 18,201 Cr.

ABOUT

Gujarat Mineral Development Corporation is primarily engaged in 2 sectors i.e. mining and power.[1]Its projects include Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind and Solar.[2]

KEY POINTS

Minerals & MetalsThe company mines and extracts different minerals and metals such as lignite, bauxite, fluorspar, manganese, silica sand, limestone, bentonite and ball clay[1]from various districts in Gujarat such as Kutch, Surat, Baroda, Rajkot, Jamnagar, Porbandar, Amreli, Bhavnagar and others.[2]

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsJv Partnerships AcquisitionsCredit Rating UpdatesRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.NMDC83.8510.4973719.393.941698.0440.226378.1129.6729.5926689.3933.337027.101699.142.2717.010.11
2.Lloyds Metals1238.7037.3567429.750.08567.3989.953651.35154.3338.288903.3429.591805.12572.368.4621.701.06
3.G M D C572.3527.6418200.731.76470.35-6.91527.58-11.0314.192699.8819.65658.49120.252.729.070.04
4.Gravita India1613.4032.8711908.260.3995.9733.321035.5011.6521.504108.939.14362.3195.995.2714.970.20
5.Ashapura Minech.868.9520.848300.740.12105.98117.93952.5057.6718.643728.7514.25398.3896.615.827.950.86
6.MOIL349.1023.587103.671.6170.4440.99348.0519.2418.761496.3227.60301.2870.442.6312.280.00
7.Orissa Minerals4839.50–2903.700.003.14297.4725.137.44-38.5271.85-42.00-38.583.14–-9.03–
–Median: 12 Co.482.522.215003.680.3643.939.41311.0210.2518.71219.0613.56182.2843.922.639.450.2

Quarterly Results

Standalone figures in ₹ crores

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
1,155539855948766383564750818593653786733528
Expenses
714368520558519330443561606451561592563454
Operating Profit
441171336390247531211892121429319417074
Other Income
47535623661776071606211511777583
Profit before tax
466204369606288111161236250183180284225634
Tax %
26%26%28%27%25%31%27%21%26%29%18%21%27%26%
Net Profit
34515126544121676117186185129149225164470
EPS in Rs
10.854.748.3413.856.782.403.695.865.804.064.687.095.1614.79

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,2851,4131,1791,5372,0511,8801,4491,3292,7323,4982,4632,8512,700
Expenses
6688918791,1161,4991,3191,3211,3322,0092,1611,8532,2102,169
Operating Profit
617522300421552560128-37231,337610641531
Other Income
137253151179119-155169-245155392269354891
Interest
0211222232322
Depreciation
1251371311511199692949881809597
Profit before tax
630636318447551307203-3447771,6467968971,323
Net Profit
439500225325428139145-374451,2015966881,009
EPS in Rs
13.8115.737.0610.2313.474.364.56-1.1614.0037.7718.7321.6331.72
Dividend Payout %
22%19%42%29%26%46%44%-17%31%30%51%47%–

Compounded Sales Growth

10 Years:7%
5 Years:14%
3 Years:1%
TTM:-1%

Compounded Profit Growth

10 Years:5%
5 Years:36%
3 Years:15%
TTM:7%

Stock Price CAGR

10 Years:24%
5 Years:56%
3 Years:55%
1 Year:75%

Return on Equity

10 Years:10%
5 Years:13%
3 Years:14%
Last Year:11%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
64646464646464646464646464
Reserves
2,7993,1783,6013,9054,3374,2223,9993,9694,7225,6835,9966,3106,626
Borrowings
-0-0-0-0-0-0-01123126278
Other Liabilities
1,0909471,0121,1191,0448919679051,0631,1661,2661,2131,264
Total Liabilities
3,9524,1884,6765,0885,4445,1775,0304,9385,8496,9147,3287,7138,232
Fixed Assets
1,8621,7561,7172,0732,1452,1292,0561,5831,5081,4521,5491,5501,999
Gross Block
2,8062,8181,8442,3472,5352,6292,6342,6492,6782,7032,8762,960–
Accumulated Depreciation
9431,0621272743905005781,0661,1701,2511,3271,410–
CWIP
11463121111462328292741619
Investments
260299644657863426259292587480553473469
Other Assets
1,8182,0872,2842,3372,4262,6202,7103,0573,7314,9534,9344,9505,145
Total Assets
3,9524,1884,6765,0885,4445,1775,0304,9385,8496,9147,3287,7138,232

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
2869220845732514361494839351111,062
Cash from Investing Activity
-190-13-70-352-220218285-675-789253-812
Cash from Financing Activity
-112-111-115-115-97-134-77-63-7-137-365-183
Net Cash Flow
-15-3323-1083011172-1998-067

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
152130282029354027191511
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
152130282029354027191511
Working Capital Days
259254358228178228271290153147224174
ROCE %
23%17%9%12%13%14%5%1%18%31%14%14%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%
FIIs
4.07%3.82%3.08%1.89%1.76%1.82%1.60%1.68%1.94%2.15%2.25%3.32%2.30%
DIIs
1.72%1.65%1.51%1.00%0.89%0.75%1.00%0.78%0.75%0.76%0.79%0.76%0.86%
Public
20.15%20.54%21.41%23.09%23.34%23.43%23.36%23.54%23.33%23.10%22.97%21.92%22.84%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

GMDC Files SEBI Compliance Certificate for Dematerialization

13th April 2026, 7:42 pm

SEBI issues Administrative Warning to GMDC for Disclosure Lapses

9th April 2026, 12:22 am

GMDC to Close Trading Window From April 1, 2026 for Financial Results

28th March 2026, 9:36 pm

Gujarat Mineral Development Corporation Clarifies Trading Volume Surge, Cites Market Drivers

23rd March 2026, 8:15 pm

GMDC Signs MoU with NMDC to Explore Strategic Collaboration in Rare Earth Elements Sector

16th March 2026, 9:27 pm

Published by Other Websites

External media mentions & references

GMDC Surges 17% on FII Buying; Outperforms Weak Market

16th April 2026, 1:57 pm

GMDC Surges 18%, REC, PFC Gain 5% as Market Flatlines

16th April 2026, 1:22 pm

Indian Markets Reverse Early Gains; Metals Surge Amid Volatility

16th April 2026, 1:21 pm

FY26 Multibaggers: 5 Stocks Doubled Investment Amid Market Woes

31st March 2026, 12:11 pm

GMDC, NMDC Shares Surge on Rare Earths Collaboration Pact

17th March 2026, 10:57 am

News Articles

Editorial & research coverage

AI Fears Trigger IT Sell-off Amidst Mixed Q3 Earnings
AI Fears Trigger IT Sell-off Amidst Mixed Q3 Earnings

13th February 2026, 8:51 am

Indian Markets Show Divergence, Low-Cap Stocks Surge
Indian Markets Show Divergence, Low-Cap Stocks Surge

29th January 2026, 4:39 pm

Top 3 BSE Gainers Surge in Pre-Opening Session as Sensex Dips
Top 3 BSE Gainers Surge in Pre-Opening Session as Sensex Dips

20th January 2026, 9:27 am

GMDC, NALCO Gain as India Joins US AI Supply Chain Pact
GMDC, NALCO Gain as India Joins US AI Supply Chain Pact

12th January 2026, 1:36 pm

US Envoy's India Pledge Sparks Market Rebound, Boosts Critical Minerals
US Envoy's India Pledge Sparks Market Rebound, Boosts Critical Minerals

12th January 2026, 1:02 pm

Documents

Announcements

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Announcement under Regulation 30 (LODR)-Press Release / Media Release

8 Jan - GMDC assigned provisional CareEdge ESG score 77.7 (CareEdge-ESG 1); field visits Nov 19–21, 2025.

Announcement under Regulation 30 (LODR)-Press Release / Media Release

8 Jan - GMDC received CareEdge ESG score 77.7 (Leadership) after Nov 19–21, 2025 assessment; announced Jan 8, 2026.

Announcement under Regulation 30 (LODR)-Cessation

2 Jan - Prof. Shailesh Gandhi ceased as Independent Director after completing two terms on 31 Dec 2025.

Closure of Trading Window

30 Dec - Trading window closed from 1 Jan 2026 until 48 hours after unaudited Q4 results for Dec 31, 2025.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from nse)

Financial Year 2013

(from bse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

22 Aug 2025 from care

Rating update

28 Aug 2024 from care

Rating update

22 Aug 2024 from care

Rating update

5 Sep 2023 from care

Rating update

18 May 2023 from care

Concalls

May 2025

Transcript

Aug 2024

TranscriptRecording

Jul 2024

TranscriptRecording

Aug 2023

Transcript

Feb 2023

Transcript

Oct 2022

Transcript

Aug 2022

Transcript

May 2022

Transcript

Mar 2022

PPT

Feb 2022

Transcript

Nov 2021

Transcript

Aug 2021

Transcript

Stock Analysis

Description

  1. Gujarat Mineral Development Corporation is primarily engaged in mining and power sectors, with projects including Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind, and Solar across various districts in Gujarat.

Key Growth Triggers

  1. Diversification into coal, copper, and rare earth elements.
  2. Significant capital expenditure plans (13,400 crore for Lakshya 2030).
  3. Operationalization of the 15 MTPA Baitarni-West coal mine in Odisha.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. Currently no data available for Key Red Flags.

Key Dates To Watch

  1. Q3 FY26 Board meeting for results: November 14, 2025. Trading window closed from January 1, 2026, pending Q3 results announcement.

Corporate Announcements

13th Apr 26
Impact Rating: 3
GMDC has filed a crucial compliance certificate as per SEBI's Depository and Participants Regulation, 2018, detailing dematerialization activities for the quarter ending March 31, 2026.
8th Apr 26
Impact Rating: 8
SEBI has warned GMDC regarding a press release on environmental clearance, citing deficiencies in reflecting the factual position, impacting disclosures from Dec 2023 to Jan 2024.
28th Mar 26
Impact Rating: 6
Gujarat Mineral Development Corporation (GMDC) will close its trading window for equity shares from April 1, 2026, as per SEBI insider trading rules. The window will reopen 48 hours post the declaration of audited financial results for the fiscal year ending March 31, 2026.
23rd Mar 26
Impact Rating: 4
Gujarat Mineral Development Corporation addressed the Bombay Stock Exchange query on its stock's trading volume surge, stating that all SEBI disclosures are up-to-date with no impending news influencing prices.
16th Mar 26
Impact Rating: 6
Gujarat Mineral Development Corporation (GMDC) has entered into a Memorandum of Understanding (MoU) with NMDC Limited. The agreement aims to explore strategic collaboration in the Rare Earth Elements (REE) sector, focusing on exploration, mining, and downstream applications.