MarketFriction

Gujarat Mineral Development Corporation Ltd

NSE GMDCLTD · BSE 532181 · Industrial Minerals
₹487.65 -3.95%
NSE close2026-10-01
52 week range466.40 - 771.90
Market cap₹16,320 Cr.
P/E28.6
Nifty 500Nifty Smallcap 100Smallcap 250 Price band 20% Delivery 36.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales383564750818593653786733528579814907
Expenses332444562607453562593563458478710716
Operating Profit511211892111409219416969101104191
OPM %13%21%25%26%24%14%25%23%13%17%13%21%
Other Income77607260621141187858310118577
Interest111111011157
Depreciation182022212126272222224933
Profit before tax109160238249181179285224629179235228
Tax %32%27%21%26%29%18%21%27%26%26%17%28%
Net Profit75117187184128148226164466133194163
EPS in Rs2.353.675.895.794.024.647.115.1514.654.186.105.14
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,1791,5372,0511,8801,4491,3292,7323,4982,4632,5342,5232,827
Expenses8901,1191,5831,3241,3231,3352,0112,1611,8531,8962,0802,363
Operating Profit289418468556126-67211,337609638443465
OPM %24%27%23%30%9%-0.5%26%38%25%25%18%16%
Other Income156181121-70173-241158396271349947945
Interest1122223232713
Depreciation13115111996929498818095115126
Profit before tax313447469388205-3437781,6497988891,2681,271
Tax %30%27%26%43%28%-90%43%27%25%24%25%
Net Profit219325347220146-364461,204597680957956
EPS in Rs6.8910.2210.906.914.61-1.1214.0237.8818.7821.3830.0830.07
Dividend Payout %44%29%32%29%43%-18%31%30%51%47%32%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth8%14%-10%2%
Compounded Profit Growth3%-6%-38%-14%
Stock Price CAGR20%47%17%-14%
Return on Equity10%11%8%4%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital646464646464646464646464
Reserves3,1803,6333,9374,2884,2544,0324,0034,7585,7226,0366,3787,009
Borrowings679000001123126317
Other Liabilities1,0451,0121,1201,0448949679051,0641,1661,2661,1831,595
Total Liabilities4,9664,7095,1215,3955,2115,0634,9735,8866,9537,3697,7518,984
Fixed Assets1,7711,7192,0752,1472,1312,0581,5851,5101,4541,5511,5532,007
CWIP95831211114623282927751,248
Investments121644657782429264299596491566484464
Other Assets2,1172,3142,3682,4562,6512,7373,0833,7564,9794,9604,9385,266
Total Assets4,9664,7095,1215,3955,2115,0634,9735,8866,9537,3697,7518,984
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity10120445224114211474819331101,066744
Cash from Investing Activity-13-67-350-138238487-674-787254-814-614
Cash from Financing Activity-111-115-115-97-134-77-63-7-137-365-183-154
Net Cash Flow-2322-136318170-1998-068-25
Free Cash Flow27205-63572-9135443908-366430-289
CFO/OP61%126%140%95%61%127%-292%98%103%56%136%202%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days213028202935402719151210
Inventory Days
Days Payable
Cash Conversion Cycle213028202935402719151210
Working Capital Days240356228178228271290153147228201277
ROCE %16%8%12%11%14%5%1%18%31%13%14%11%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%74.00%
FIIs1.89%1.76%1.82%1.60%1.68%1.94%2.15%2.25%3.32%2.30%3.76%3.66%
DIIs1.00%0.89%0.75%1.00%0.78%0.75%0.76%0.79%0.76%0.86%0.94%0.81%
Government0.00%0.00%0.00%0.05%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public23.09%23.34%23.43%23.36%23.54%23.33%23.10%22.97%21.92%22.84%21.31%21.53%
No. of Shareholders1,56,0021,79,0432,29,4632,41,7252,52,0242,51,8132,50,5382,27,8502,24,5582,37,2202,41,5512,48,480

Fundamentals

Market Cap₹ 16,320 Cr.
Current Price₹ 513
Stock P/E28.6
Book Value₹ 222
ROCE10.8 %
ROE4.22 %
Dividend Yield1.85 %
Face Value₹ 2.00
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)-14%
Consolidated figures.
Valuation
Market capRs 15,507 Cr
Enterprise valueRs 15,284 Cr
P/E (TTM)16.22x
Price to book2.19x
Price to sales5.48x
EV / EBITDA10.84x
EV / EBIT11.90x
EV / sales5.41x
Price to cash flow20.85x
Earnings yield6.17%
Dividend yield1.95%
P/E, 3-year average16.51x
P/B, 3-year average1.88x
P/E, 5-year average13.28x
P/B, 5-year average1.52x
Profitability
Operating margin (excl. other income)17.56%
Operating margin (incl. other income)55.09%
EBITDA margin49.88%
Pre-tax margin44.96%
Net profit margin33.82%
Net margin, latest quarter18.03%
ROE14.16%
ROCE18.27%
ROA11.43%
ROE, 3-year average11.68%
ROCE, 3-year average15.27%
ROA, 3-year average9.59%
ROE, 5-year average13.56%
ROCE, 5-year average18.90%
ROA, 5-year average11.15%
ROIC (approx.)14.15%
Tax rate24.54%
Other income / net worth13.38%
Growth
Sales growth (latest year)-0.43%
Profit growth (latest year)40.72%
Sales CAGR, 3 years-10.32%
Sales CAGR, 5 years13.68%
Profit CAGR, 3 years-7.39%
Sales growth QoQ11.37%
Profit growth QoQ-15.80%
Sales growth YoY (latest quarter)23.76%
Profit growth YoY (latest quarter)-0.21%
Per share
EPS (TTM)Rs 30.07
EPS (latest year)Rs 30.08
EPS (latest quarter)Rs 5.14
EPS, 3-year averageRs 23.42
EPS, 5-year averageRs 24.43
Book value per shareRs 222.41
Sales per shareRs 88.91
Cash flow per shareRs 23.39
Free cash flow per shareRs -9.09
Dividend per share (latest year)Rs 9.50
Dividend per share, 3-year averageRs 9.72
Dividend per share, 5-year averageRs 8.98
Dividends
Dividend payout31.58%
Dividend payout, 3-year average43.22%
Dividend payout, 5-year average38.11%
Efficiency
Asset turnover0.28x
Fixed asset turnover1.26x
Inventory turnover3.55x
Inventory days103 days
Debtor days10 days
Debtors turnover35.20x
Cash conversion cycle10 days
Working capital days277 days
Leverage
Total debtRs 317 Cr
Cash and bankRs 540 Cr
Net debtRs -224 Cr
Debt to equity0.04x
Net debt / EBITDA-0.16x
Interest coverage97.00x
Current ratio (filing 2026-03-31)4.14x
Quick ratio (filing 2026-03-31)4.02x
Trade payables (filing 2026-03-31)Rs 259 Cr
Owners' fund to total sources78.72%
Debt to assets3.52%
Cash flow
Cash from Operating Activity (latest year)Rs 744 Cr
Cash from Investing Activity (latest year)Rs -614 Cr
Cash from Financing Activity (latest year)Rs -154 Cr
Net Cash Flow (latest year)Rs -25 Cr
Free cash flow (latest year)Rs -289 Cr
FCFE (approx.: FCF + change in debt)Rs -99 Cr
Cash from ops / profit, 5 years0.86x
Sales to cash flow3.39x
Statement figures
Net sales (TTM)Rs 2,827 Cr
Net sales (latest year)Rs 2,523 Cr
Sales (latest quarter)Rs 907 Cr
Operating profit excl. other income (latest year)Rs 443 Cr
Operating profit (latest quarter)Rs 191 Cr
Other income (TTM)Rs 945 Cr
EBITDA (TTM)Rs 1,410 Cr
PBDT (TTM)Rs 1,397 Cr
Profit before tax (TTM)Rs 1,271 Cr
Tax (latest year)Rs 311 Cr
Net profit (TTM)Rs 956 Cr
Net profit (latest year)Rs 957 Cr
Net profit (latest quarter)Rs 163 Cr
Depreciation (TTM)Rs 126 Cr
Depreciation (latest quarter)Rs 33 Cr
Interest (TTM)Rs 13 Cr
Cost of goods sold (latest year)Rs 345 Cr
Total expenditure (latest year)Rs 2,080 Cr
Total income (latest year)Rs 3,469 Cr
Share capitalRs 64 Cr
ReservesRs 7,009 Cr
Shareholders' fundsRs 7,073 Cr
Total assetsRs 8,984 Cr
Net blockRs 2,007 Cr
Capital work in progressRs 1,248 Cr
InvestmentsRs 464 Cr
ReceivablesRs 72 Cr
InventoryRs 97 Cr
Other liabilitiesRs 1,595 Cr
Shares outstanding (crore)31.80
Ownership
Promoter holding74.00% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 16.2 is at the 71th percentile of its own 8.4-year range (median 11.4, low 4.4, high 28.6).
P/B 2.19 is at the 84th percentile (median 1.04).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGMDCLTDNifty 50Difference
1 week-10.1%-2.8% -7.3 pts
1 month-13.3%-6.8% -6.5 pts
3 months-19.1%-7.6% -11.5 pts
6 months-13.9%+0.4% -14.3 pts
1 year-19.0%-9.9% -9.1 pts
2 years+34.3%-13.6% +47.8 pts
3 years+53.8%+14.2% +39.6 pts
5 years+546.8%+27.9% +518.9 pts
42 mutual fund schemes hold about ₹29 Cr. Over three months 35 bought more and 7 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Nippon India Nifty Smallcap 250 Index Fund0.21%7 +15%
SBI Nifty Smallcap 250 Index Fund0.21%4 +15%
Motilal Oswal Nifty Smallcap 250 Index Fund0.21%3 +15%
Nippon India Nifty 500 Momentum 50 Index Fund0.19%2 +15%
ICICI Pru Nifty Smallcap 250 Index Fund0.21%2 +15%
HDFC NIFTY Smallcap 250 Index Fund0.21%2 +15%
Motilal Oswal Nifty 500 Momentum 50 Index Fund0.19%2 +15%
Edelweiss Nifty500 Multicap Momentum Quality 50 Index Fund0.23%1 -10%
Nippon India Nifty 500 Equal Weight Index Fund0.19%1 +20%
JioBlackRock Nifty Smallcap 250 Index Fund0.21%1 +15%
Motilal Oswal Nifty 500 Index Fund0.02%1 +19%
Edelweiss Nifty Smallcap 250 Index Fund0.21%1 +15%
Axis Nifty500 Momentum 50 Index Fund0.19%0 +15%
Groww Nifty Smallcap 250 Index Fund0.21%0 +15%
HDFC Nifty500 Multicap 50:25:25 Index Fund0.05%0 +15%
Bandhan Nifty Smallcap 250 Index Fund0.21%0 +15%
UTI Nifty Midsmallcap 400 Momentum Quality 100 Index Fund0.15%0 -14%
Aditya Birla SL BSE 500 Momentum 50 Index Fund0.25%0 +14%
Kotak Nifty Smallcap 250 Index Fund0.21%0 +15%
SBI Nifty 500 Index Fund0.02%0 +19%
Kotak BSE PSU Index Fund0.22%0 +21%
Navi Nifty Smallcap250 Momentum Quality 100 Index Fund0.40%0 -14%
Groww Nifty Total Market Index Fund0.02%0 +18%
HDFC BSE 500 Index Fund0.02%0 +14%
Axis Nifty 500 Index Fund0.02%0 +19%

Red flags

F-score 4 of 8
lookProfit leans on other income Other income was 75% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹907 Cr +23.7% vs Jun 2025. Net profit ₹163 Cr -0.6%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-23Dividend - Rs 9.50 Per Share
2025-09-18Dividend - Rs 10.10 Per Share
2024-09-20Dividend - Rs 9.55 Per Share
2023-09-22Annual General Meeting/Dividend - Rs 11.45 Per Share
2022-09-22Annual General Meeting/Dividend - Rs 4.30 Per Share
2021-11-17 Annual General Meeting/Dividend - Rs 0.20 Per Share
2020-12-22 Annual General Meeting/Dividend - Rs 2 Per Share
2019-09-20 Annual General Meeting/Dividend - Rs 2 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 3.50 Per Share
2017-09-20 Annual General Meeting/ Dividend- Rs 3/- Per Share
2016-09-21 Annual General Meeting/Dividend - Rs 3/- Per Share
2015-09-23 Annual General Meeting/ Dividend - Rs 3/- Per Share
2014-09-18Annual General Meeting / Dividend - Rs 3/- Per Share
2013-09-16Dividend Rs 3/- Per Share
2012-09-17Annual General Meeting And Dividend Rs.3/- Per Share
2011-09-19Dividend-Rs.3/- Per Share
2010-09-17Dividend-Rs.2.50 Per Share
2009-09-17Agm/Div-Rs.2/- Per Share
2008-10-16Bonus 1:10.5000
2008-09-01Dividend - 100%
2007-11-08Fv Split Rs.10/- To Rs.2/0.2000
2007-09-14Dividend-100%
2006-12-13Agm/Dividend-60%
DateTypeWhat it says
2026-09-30Shareholder meetingVoting results.
2026-09-30Shareholder meetingProceedings of Annual General Meeting held on September 30, 2026
2026-09-29AppointmentAppointment of Mr Ajay Bhadoo IAS as Managing Director of the company w.e.f. September 29, 2026.
2026-09-18General UpdatesGeneral Updates
2026-09-18Credit RatingCredit Rating
2026-09-05Shareholder meetingNotice of Annual General Meeting to be held on September 30, 2026
2026-09-04General UpdatesProbable data breach incident
2026-09-03General UpdatesIntimation of 63rd Meeting of the Company
2026-09-03Record DateRecord date for the purpose of Dividend is 23-Sep-2026.
2026-07-31Board meeting outcomeGujarat Mineral Development Corporation Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-15General UpdatesGeneral Updates
2026-06-02Press ReleaseA press release dated Jun 02, 2026, titled "GMDC Partners with University of Cambridge to Establish India s First AI-Powered Rare Earth Supply Chain O...
2026-05-14DividendBoard of Directors at its meeting held on May 14, 2026, recommended Final Dividend of Rs. 9.50 per equity share.
2026-05-14Board meeting outcomeGujarat Mineral Development Corporation Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-04-08General UpdatesGeneral Updates
2026-04-06General UpdatesGeneral Updates
2026-03-16Press ReleaseA press release dated March 16, 2026, titled "GMDC Signs MoU with NMDC Limited to Explore StrategicCollaboration in the Rare Earth Elements (REE) Sect...
2026-02-27Press ReleaseA press release dated February 27, 2026, titled "GMDC Secures Environmental Clearance for Lakhpat-Punrajpur Lignite & Limestone Mine in Kutch, Strengt...
2026-02-26Press Release (Revised)A revised press release dated February 26, 2026, titled "Revised Press Release : GMDC and NTPC Sign MoU to Explore Advanced Gasification of Coal and L...
2026-02-26Press ReleaseA press release dated February 26, 2026, titled "GMDC signs MoU with NTPC to Explore Coal Supply for Power Generation".
2026-02-26Press ReleaseA press release dated February 26, 2026, titled "GMDC and NTPC Sign MoU to Explore Advanced Gasification of Coal and Lignite Resources".
2026-02-24General UpdatesESG Rating received from CFC Finlease Private Limited
2026-02-16UpdatesNewspaper Advertisement for unaudited Results for quarter ended on December 31, 2025.
2026-02-13Board meeting outcomeGujarat Mineral Development Corporation Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-01-27Director changeChange in Director(s) of the company.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Trade dateShares sold short
2026-09-3025
2026-09-291
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Gujarat Mineral Development Corporation Ltd?

Gujarat Mineral Development Corporation Ltd (GMDCLTD) has a market capitalisation of Rs 16,320 Cr. at the 2026-10-01 close.

What is the P/E ratio of Gujarat Mineral Development Corporation Ltd?

Gujarat Mineral Development Corporation Ltd trades at a P/E of 28.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Gujarat Mineral Development Corporation Ltd's latest quarterly results?

In the Jun 2026 quarter, Gujarat Mineral Development Corporation Ltd sales was Rs 907 Cr (+23.7% vs Jun 2025) and net profit was Rs 163 Cr.

What is the 52-week high and low of Gujarat Mineral Development Corporation Ltd?

The 52-week high is Rs 771.90 and the 52-week low is Rs 466.40.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03