Gujarat Mineral Development Corporation Ltd logo

Gujarat Mineral Development Corporation Ltd

GMDCLTD NSE

Key Fundamentals

SmallcapIndustrial MineralsMetals & Mining
Market Cap
₹18,876 Cr
Volatility
Moderate
P/E Ratio
19.49
EBITDA
₹443 Cr
Return on Equity
20.97%
Debt to Equity
0.01
Book Value
₹222.41
EPS
₹18.32
52W High
₹771.9
52W Low
₹374.8

Technical Indicators

Key Insights

Strengths

2
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 43.1%

Weaknesses

3
  • Stock is trading at 2.68 times its book value
  • Company has a low return on equity of 9.71% over last 3 years.
  • Earnings include an other income of Rs.947 Cr.

Growth Rate

Revenue Growth
-17.23% ↘
Net Income Growth
45.34% ↘
Cash Flow Change
862.45% ↗
ROE
9.30% ↘
ROCE
5.43% ↘
EBITDA Margin (Avg.)
-60.28% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 8d ago
AI opinion · based on fundamentals
Risk high
HOLD Worth holding, not adding Conviction 4/10

GMDC is a debt-free PSU with a healthy 43.1% dividend payout, but declining sales (-7% TTM) and profits (-17% TTM) combined with a 100% sell rating from analysts make a compelling case for caution. The stock's 47% 1-year CAGR appears disconnected from deteriorating fundamentals, suggesting limited upside at current valuations of 20.2x PE.

Bull Case 7
  • Company is almost debt-free, providing financial resilience in a cyclical mining sector with near-zero debt-to-equity ratio
  • Healthy dividend payout of 43.1% with current dividend yield of 1.66%, offering income stability to long-term investors
  • Strong 5-year stock CAGR of 52% demonstrates sustained wealth creation for patient shareholders
  • 5-year compounded sales growth of 15% shows the company can deliver revenue expansion over longer cycles
  • 5-year compounded profit growth of 8% indicates underlying earnings power despite recent weakness
  • 10-year ROE average of 10% is reasonable for a capital-intensive mining PSU with conservative leverage
  • Market cap of Rs.19,458 Cr provides adequate liquidity and institutional investor accessibility
Bear Case 8
  • TTM sales growth is negative at -7% indicating clear revenue contraction in the current cycle
  • TTM profit decline of -17% signals accelerating earnings deterioration beyond just revenue weakness
  • 100% of analysts (1 out of 1) rate the stock a SELL, reflecting professional consensus on overvaluation
  • 3-year compounded profit CAGR of -22% shows a sustained multi-year earnings downtrend, not a one-off
  • Other income of Rs.947 Cr inflates reported earnings, masking weaker core operating performance
  • ROE has declined from 10% (3-year average) to just 8% last year, showing diminishing capital efficiency
  • Stock trades at 2.73x book value which is expensive for a mining company with declining returns
  • 3-year compounded sales CAGR of -9% suggests structural demand or pricing headwinds, not just cyclicality

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Positives 1
  • AI REE observatory with Cambridge Jun 02

    GMDC partnered with University of Cambridge to launch India's first AI-powered Rare Earth Supply Chain Observatory, investing £600,000 to track global REE value chains.

TL;DR: GMDC is positioning itself in the strategic rare earth elements space through a technology-forward partnership with Cambridge, signaling diversification beyond traditional mining. No visible headwinds from recent news flow. The trend appears constructive as the company builds capabilities in a supply chain critical to India's energy transition and defence sectors.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
948
766
383
564
750
818
593
653
786
733
528
579
814
Expenses
559
519
332
444
562
607
453
562
593
563
458
478
710
Operating Profit
390
247
51
121
189
211
140
92
194
169
69
101
104
OPM %
41%
32%
13%
21%
25%
26%
24%
14%
25%
23%
13%
17%
13%
Other Income
238
64
77
60
72
60
62
114
118
78
583
101
185
Interest
0
1
1
1
1
1
1
1
0
1
1
1
5
Depreciation
21
19
18
20
22
21
21
26
27
22
22
22
49
PBT
608
291
109
160
238
249
181
179
285
224
629
179
235
Tax %
27%
25%
32%
27%
21%
26%
29%
18%
21%
27%
26%
26%
17%
Net Profit
442
219
75
117
187
184
128
148
226
164
466
133
194
EPS in Rs
13.9
6.88
2.35
3.67
5.89
5.79
4.02
4.64
7.11
5.15
14.65
4.18
6.1
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
1,434
1,179
1,537
2,051
1,880
1,449
1,329
2,732
3,498
2,463
2,851
2,653
Expenses
909
890
1,119
1,583
1,324
1,323
1,335
2,011
2,161
1,853
2,213
2,210
Operating Profit
525
289
418
468
556
126
-6
721
1,337
609
637
443
OPM %
37%
24%
27%
23%
30%
9%
0%
26%
38%
25%
22%
17%
Other Income
253
156
181
121
-70
173
-241
158
396
271
355
947
Interest
2
1
1
2
2
2
2
3
2
3
2
7
Depreciation
138
131
151
119
96
92
94
98
81
80
95
115
PBT
637
313
447
469
388
205
-343
778
1,649
798
895
1,268
Tax %
21%
30%
27%
26%
43%
28%
-90%
43%
27%
25%
23%
25%
Net Profit
501
219
325
347
220
146
-36
446
1,204
597
686
957
EPS in Rs
15.75
6.89
10.22
10.9
6.91
4.61
-1.12
14.02
37.88
18.78
21.57
30.08
Div. Payout %
19%
44%
29%
32%
29%
43%
-18%
31%
30%
51%
47%
32%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
64
64
64
64
64
64
64
64
64
64
64
64
Reserves
3,180
3,633
3,937
4,288
4,254
4,032
4,003
4,758
5,722
6,036
6,348
7,009
Borrowings
679
0
0
0
0
0
1
1
2
3
126
317
Other Liabilities
1,045
1,012
1,120
1,044
894
967
905
1,064
1,166
1,266
1,214
1,594
Total Liabilities
4,966
4,709
5,121
5,395
5,211
5,063
4,973
5,886
6,953
7,369
7,752
8,983
Fixed Assets
1,771
1,719
2,075
2,147
2,131
2,058
1,585
1,510
1,454
1,551
1,553
3,039
CWIP
958
31
21
11
1
4
6
23
28
292
741
215
Investments
121
644
657
782
429
264
299
596
491
566
484
464
Other Assets
2,117
2,314
2,368
2,456
2,651
2,737
3,083
3,756
4,979
4,960
4,974
5,265
Total Assets
4,966
4,709
5,121
5,395
5,211
5,063
4,973
5,886
6,953
7,369
7,752
8,983
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
101
204
452
241
142
1
147
481
933
110
1,059
744
Investing
-13
-67
-350
-138
23
84
87
-674
-787
254
-808
-613
Financing
-111
-115
-115
-97
-134
-77
-63
-7
-137
-365
-183
-154
Net Cash Flow
-23
22
-13
6
31
8
170
-199
8
0
68
-23
Free Cash Flow
27
205
-6
35
72
-9
135
443
908
-366
424
-289
CFO/OP
61
126
140
95
61
127
-292
98
103
56
135
202
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
21
30
28
20
29
35
40
27
19
15
11
10
Cash Conversion Cycle
21
30
28
20
29
35
40
27
19
15
11
10
Working Capital Days
240
356
228
178
228
271
290
153
147
228
177
263
ROCE %
16%
8%
12%
11%
14%
5%
1%
18%
31%
13%
14%
11%

Shareholding Pattern

As of Mar 2026
Promoters 74.00%
Public 16.95%
Others 4.35%
FIIs 3.75%
DIIs 0.94%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
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%
74.00%
74.00%
74.00%
74.00%
74.00%
74.00%
74.00%
74.00%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
1.89%
0.00%
1.82%
1.59%
1.68%
1.94%
2.15%
2.25%
3.32%
2.29%
3.75%
DIIs
2.50%
2.50%
0.87%
2.49%
2.67%
2.11%
1.93%
1.72%
1.65%
1.52%
1.01%
0.89%
0.74%
1.00%
0.78%
0.74%
0.76%
0.79%
0.76%
0.87%
0.94%
Government
0.04%
0.04%
0.04%
0.04%
0.05%
0.05%
0.00%
0.05%
0.00%
0.00%
0.00%
0.00%
0.00%
0.05%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
17.12%
16.75%
17.14%
16.93%
15.34%
16.22%
16.45%
17.12%
17.33%
18.23%
19.76%
19.90%
20.81%
21.00%
21.36%
21.31%
20.62%
18.73%
17.12%
17.79%
16.95%
Others
6.35%
6.71%
7.95%
6.54%
7.95%
7.63%
7.61%
7.11%
7.03%
6.25%
3.35%
5.21%
2.63%
2.36%
2.18%
2.01%
2.48%
4.23%
4.80%
5.05%
4.35%
No. of Shareholders
0
1,05,891
1,11,843
1,08,681
1,05,899
1,10,224
1,29,171
1,30,636
1,28,721
1,31,640
1,56,002
1,79,043
2,29,463
2,41,725
2,52,024
2,51,813
2,50,538
2,27,850
2,24,558
2,37,220
2,41,551

Documents

Frequently Asked Questions about Gujarat Mineral Development Corporation Ltd

What does Gujarat Mineral Development Corporation Ltd do?
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]
Where is Gujarat Mineral Development Corporation Ltd (GMDCLTD) listed?
Gujarat Mineral Development Corporation Ltd is listed on the Indian stock exchanges. It is listed on NSE: GMDCLTD and BSE: 532181. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Gujarat Mineral Development Corporation Ltd belong to?
Gujarat Mineral Development Corporation Ltd operates in the Commodities sector within the Minerals & Mining industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Gujarat Mineral Development Corporation Ltd?
Gujarat Mineral Development Corporation Ltd has a market capitalisation of approximately ₹18876.48 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Gujarat Mineral Development Corporation Ltd?
The Price-to-Earnings (PE) ratio of Gujarat Mineral Development Corporation Ltd is 19.49. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Gujarat Mineral Development Corporation Ltd?
Over the past 52 weeks, Gujarat Mineral Development Corporation Ltd has traded between a low of ₹374.8 and a high of ₹771.9. This range helps investors understand the stock's price volatility and recent trading levels.
Does Gujarat Mineral Development Corporation Ltd pay dividends?
Yes, Gujarat Mineral Development Corporation Ltd has a dividend yield of 1.69%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Gujarat Mineral Development Corporation Ltd?
Gujarat Mineral Development Corporation Ltd has a Return on Equity (ROE) of 20.97%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Gujarat Mineral Development Corporation Ltd on Tapetide?
On Tapetide, you can view Gujarat Mineral Development Corporation Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website gmdcltd.com
CEO Mr. Roopwant Singh I.A.S.
Employees 765
Listed 1997-12-17
Face Value ₹ 2
Issued Size 31,80,00,000

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