NSE: GMDCLTD · BSE: 532181 · ISIN INE131A01031
Gujarat Mineral Development Corporation Limited stock analysis
Gujarat Mineral Development Corporation Limited ranks #1988 in the TickerSutra evidence-ranked universe with a score of 49/100 and 95% data confidence. The latest captured fundamentals show ROCE of 10.8%, quarterly sales growth of 23.8% and quarterly profit growth of -0.2%.Avoid / exit review
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.04×
- Strong CFO/EBITDA of 1.68×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
- No promoter shares are reported as pledged
Risks and constraints
- Operating margin has compressed materially
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹2,732cr | ₹721cr | ₹446cr | 26.0% |
| 2023 | ₹3,498cr | ₹1,337cr | ₹1,204cr | 38.0% |
| 2024 | ₹2,463cr | ₹609cr | ₹597cr | 25.0% |
| 2025 | ₹2,534cr | ₹638cr | ₹680cr | 25.0% |
| 2026 | ₹2,523cr | ₹443cr | ₹957cr | 18.0% |
| TTM | ₹2,827cr | ₹465cr | ₹956cr | 16.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Gujarat Mineral Development Corporation Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineGeneral UpdatesNSE · 18 Sept 2026Gujarat Mineral Development Corporation Limited has informed the Exchange about General Updates
RoutineGujarat Mineral Development Corporation Ltd - 532181 - Intimation Of ESG RatingBSE · 18 Sept 2026Intimation of ESG Rating
RoutineGujarat Mineral Development Corporation Ltd - 532181 - Announcement under Regulation 30 (LODR)-Credit RatingBSE · 18 Sept 2026Intimation regarding Credit Rating
MANAGEMENT COMMENTARY
Signals from filed documents
Following the successful turnaround achieved under Mission ₹100 crore, the momentum continued into FY 2025-26. While despatch volumes moderated to 0.46 MT, improved price realisation and stronger commercial discipline enabled the bauxite business to increase its sales value to ₹124 crore, representing an 18% year-on-year growth in value. The Next Opportunity Looking ahead, GMDC is preparing the bauxite business for i
The expansion will strengthen GMDC’s ability to maintain a reliable domestic lignite supply base while supporting the long-term energy requirements of Gujarat’s industrial ecosystem. 1Merchant Seller of Lignite ~482 MTMineable reserves across Lakhpat Punhrajpur and upcoming projects 8 MTPA 10 MTPAProduction capacity expansion Enabling Billion Dreams of Viksit Bharat 16 Panandhro Extn. Lakhpat Punhrajpur Umarsar Mata
These include the Mining Plan approval obtained in July 2025 and the Wildlife Conservation Plan approval granted in January 2026, marking critical milestones toward project development and operational-readiness. A beneciation plant is proposed to recover multiple metal streams for electronics, transport, clean energy, and export markets. With stakeholder engagement for pre-feasibility studies underway, the project m
In the year FY2025-26, your Company has achieved a key milestone with the grant of Environmental Clearance (EC) for the Lakhpat Punhrajpur Project. Notably, this is the rst mine in India to receive EC for the simultaneous extraction of two major minerals, lignite and limestone, marking a signicant regulatory and operational advancement. The ground breaking of Lakhpat Punhrajpur Project has been done in June, 2026.
20(2)/ (2A) Stakeholders Relationship Committee Dec 31, 2024 Mar 31, 2025 1,58,000 32,000 1,58,000 32,000 3,80,000 Reg. 21(2)/ (2A) Stakeholders Relationship Committee Dec 31, 2024 Mar 31, 2025 1,58,000 80,000 1,58,000 80,000 4,76,000 Total 6,66,000 6,66,000 13,32,000 *plus applicable GST The deciency in Committee composition arose due to vacancies for Independent Directors, which depend entirely on nomination and a
Biodiversity and Land Restoration Risk Mining operations lead to land disturbance, vegetation loss, and ecosystem fragmentation, thereby impacting local biodiversity. Increased regulatory scrutiny, especially near ecologically sensitive areas, may result in approval delays, restrictions, or penalties, if biodiversity risks are not adequately addressed. GMDC integrates biodiversity considerations into mine planning an
The Government of Gujarat, the Promoter, holds 74.00% of the paid-up equity share capital of the Company. The public and institutional investors hold the remaining 26.00%. The Company has not issued any Equity Shares with Differential Voting Rights, nor has it issued any Sweat Equity Shares, nor granted any Employee Stock Options during the year.
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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