Skip to main content
Swing Capital

Gujarat Mineral Development Corporation Ltd

NSE: GMDCLTD BSE: 532181Metal

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]

₹631
52W: ₹340 — ₹772
PE 33.8 · Book ₹222 · +184% vs book
Market Cap₹20,069 Cr
Stock P/E33.8Price to Earnings
ROCE11.3%Return on Capital
ROE8.82%Return on Equity
Div. Yield1.54%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 42.7%

Weaknesses

  • −Stock is trading at 2.86 times its book value
  • −Company has a low return on equity of 9.93% over last 3 years.
  • −Earnings include an other income of Rs.947 Cr.

Shareholding Pattern

Promoters74%
FIIs3.76%
DIIs0.94%
Public21.31%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters74%74%74%74%74%74%74%74%
FIIs1.6%1.68%▲0.11.94%▲0.32.15%▲0.22.25%▲0.13.32%▲1.12.3%▼1.03.76%▲1.5
DIIs1%0.78%▼0.20.75%▼0.00.76%▲0.00.79%▲0.00.76%▼0.00.86%▲0.10.94%▲0.1
Public23.36%23.54%▲0.223.33%▼0.223.1%▼0.222.97%▼0.121.92%▼1.022.84%▲0.921.31%▼1.5

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales564750818593653786733528579814
Expenses443561606451561592563454476684
Operating Profit1211892121429319417074103130
OPM %21%25%26%24%14%25%23%14%18%16%
Net Profit117186185129149225164470135221
EPS ₹3.695.865.84.064.687.095.1614.794.256.96

AI Insights

Revenue Trend

Mar 2026 revenue at ₹2,653Cr, down 6.9% YoY. OPM at 18%.

Debt Position

Borrowings at ₹317Cr. Debt-to-equity ratio: 0.05x. Healthy balance sheet.

Capex Cycle

CWIP at ₹215Cr (7% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.94% (-0.57pp change). FIIs: 3.76% (+0.68pp change). Promoters hold 74%.

Margin & Efficiency

ROCE declining from 17% (Mar 2015) to 11% (Mar 2026). Working capital days: 263.

Valuation

PE 33.8x with 11.3% ROCE. Price is 184% above book value of ₹222. Dividend yield: 1.54%.

Recent Announcements