Gujarat Mineral DEV Corp
NSE: GMDCLTD · Industrial Minerals · sector
₹428.95NSE close 2026-10-26
Key numbers
Market cap₹13,641 cr
Price₹428.95
52w high / low₹772 / ₹429
P/E14.3xSector median 14.3x
P/B1.9xSector median 1.7x
Book value₹222.4
Dividend yield2.35%Sector median 0.69%
ROE14.2%Sector median 14.2%
ROCE17.4%Sector median 16.4%
OPM34.3%Sector median 13.0%
Debt / equity0.04xSector median 0.30x
EV/EBITDA13.8xSector median 10.3x
Interest cover97.0x
Current ratio4.14x
Sales growth 3y-8.8%Sector median +6.0%
Profit growth 3y-7.7%Sector median +9.5%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 14 companies in Industrial Minerals (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹540 cr vs borrowings ₹309 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 97.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 4 of the last 5 years (FY26, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 2 of the last 4 quarters.
- Other income was 46% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹428.95 on 2026-10-26: -44.4% from the 52-week high, 0.0% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹736.90 · low ₹238.38
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 593 | 653 | 786 | 733 | 528 | 579 | 814 | 907 |
| EBITDA | 141 | 92 | 194 | 169 | 544 | 101 | 134 | 191 |
| OPM % | 23.8% | 14.1% | 24.6% | 23.1% | 103.1% | 17.4% | 16.5% | 21.1% |
| Other income | 62 | 114 | 118 | 78 | 108 | 101 | 155 | 76 |
| Net profit | 128 | 148 | 226 | 164 | 466 | 133 | 194 | 163 |
| EPS (₹) | 4.02 | 4.64 | 7.12 | 5.15 | 14.65 | 4.18 | 6.10 | 5.14 |
| Revenue YoY | -11.0% | -11.4% | +3.5% | +23.8% | ||||
| Profit YoY | +264.3% | -9.9% | -14.2% | -0.2% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 2,732 | 3,501 | 2,463 | 2,851 | 2,653 | 2,827 |
| EBITDA | 679 | 1,348 | 626 | 639 | 966 | 970 |
| Net profit | 405 | 1,216 | 617 | 686 | 957 | 956 |
| EPS (₹) | 12.74 | 38.23 | 19.41 | 21.57 | 30.08 | 30.07 |
| Revenue growth | +28.2% | -29.7% | +15.8% | -6.9% | +2.2% | |
| Profit growth | +200.2% | -49.2% | +11.1% | +39.5% | +43.7% | |
| Dividend / share (₹) | 0.20 | 4.30 | 11.45 | 9.55 | 10.10 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | -8.8% | – | +2.2% |
| Net profit | -7.7% | – | +43.7% |
| EPS | -7.7% | – | – |
| Share price | – | +12.1% (2y) | -24.2% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 5,798 | 6,116 | 6,412 | 7,073 |
| Borrowings | – | 0 | 0 | 123 | 309 |
| Cash & equivalents | – | 98 | 510 | 583 | 540 |
| Total assets | – | 6,921 | 7,367 | 7,750 | 8,983 |
| Fixed assets | – | 1,051 | 1,023 | 1,000 | 1,480 |
| Capital work in progress | – | 12 | 105 | 503 | 215 |
| Investments | – | 0 | 0 | 464 | 464 |
| Receivables | – | 189 | 101 | 85 | 72 |
| Inventory | – | 107 | 106 | 91 | 96 |
| Payables | – | 203 | 272 | 236 | 259 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | -215 | 932 | 109 | 1,059 | 744 |
| Cash from investing | 23 | -786 | 238 | -808 | -613 |
| Cash from financing | -7 | -137 | -365 | -183 | -154 |
| Capex | 41 | 24 | 477 | 644 | 1,034 |
| Free cash flow | -256 | 908 | -368 | 415 | -290 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 21.0% | 10.1% | 10.7% | 13.5% |
| ROCE % | – | 28.6% | 13.4% | 13.7% | 17.3% |
| Debtor days | – | 20 | 15 | 11 | 10 |
| Inventory days | – | 11 | 15,505 | 2,556 | 13 |
| Payable days | – | 21 | 39,581 | 6,596 | 36 |
| Cash conversion cycle (days) | – | 10 | -24,061 | -4,029 | -13 |
| Working capital days | – | 159 | 305 | 251 | 337 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 74.00% |
| FIIs | 3.72% |
| DIIs | 0.59% |
| of which Mutual funds | 0.23% |
| of which Insurance | 0.28% |
| Government | 0.00% |
| Public (non-institutions) | 21.69% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 74.00% | 74.00% | 74.00% | 74.00% | 74.00% | 74.00% | 74.00% | 74.00% |
| Promoter group | % |
|---|---|
| Governer of Gujarat | 74.00% |
2,50,553 shareholders. Pledged: 0.00% of promoter shares.
Peers in Industrial Minerals
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| LLOYDSME | ₹1,00,584 cr | 20.2x | 7.3x | 47.0% | 22.1% | 36.8% | – | 0.05% |
| NMDC | ₹58,457 cr | 7.8x | 1.7x | 23.4% | 25.8% | 28.8% | +22.0% | 5.27% |
| GMDCLTD | ₹13,641 cr | 14.3x | 1.9x | 14.2% | 17.4% | 34.3% | -8.8% | 2.35% |
| GRAVITA | ₹9,657 cr | 24.3x | 3.9x | 17.3% | 15.5% | 9.4% | +15.1% | 0.48% |
| MOIL | ₹4,408 cr | 14.5x | 1.6x | 11.4% | 14.2% | 31.0% | +3.2% | 3.20% |
| ASHAPURMIN | ₹3,985 cr | 9.8x | 2.4x | 27.6% | 17.2% | 10.0% | +42.0% | 0.24% |
| ORISSAMINE | ₹1,978 cr | 594.0x | – | – | 24.6% | 16.7% | +38.4% | – |
| 20MICRONS | ₹635 cr | 9.4x | 1.3x | 14.8% | 17.3% | 13.0% | +10.8% | 0.69% |
| NILE | ₹373 cr | 7.7x | 1.2x | 16.7% | 20.8% | 6.1% | +8.9% | 0.40% |
| GOACARBON | ₹361 cr | – | 2.1x | -24.3% | -3.8% | -4.4% | -20.1% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Mining | ₹2,508 cr | 92.1% | ₹608 cr | 24.2% |
| Power | ₹216 cr | 7.9% | ₹-80 cr | -36.9% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-09-23 | Dividend | Dividend - Rs 9.50 Per Share |
| 2025-09-18 | Dividend | Dividend - Rs 10.10 Per Share |
| 2024-09-20 | Dividend | Dividend - Rs 9.55 Per Share |
| 2023-09-22 | Dividend | Annual General Meeting/Dividend - Rs 11.45 Per Share |
| 2022-09-22 | Dividend | Annual General Meeting/Dividend - Rs 4.30 Per Share |
| 2021-11-17 | Dividend | Annual General Meeting/Dividend - Rs 0.20 Per Share |
| 2020-12-22 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2019-09-20 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2018-09-19 | Dividend | Annual General Meeting/Dividend- Rs 3.50 Per Share |
| 2017-09-20 | Dividend | Annual General Meeting/ Dividend- Rs 3/- Per Share |
| 2016-09-21 | Dividend | Annual General Meeting/Dividend - Rs 3/- Per Share |
| 2015-09-23 | Dividend | Annual General Meeting/ Dividend - Rs 3/- Per Share |
| 2014-09-18 | Dividend | Annual General Meeting / Dividend - Rs 3/- Per Share |
| 2013-09-16 | Dividend | Dividend Rs 3/- Per Share |
| 2012-09-17 | Dividend | Annual General Meeting And Dividend Rs.3/- Per Share |
| 2011-09-19 | Dividend | Dividend-Rs.3/- Per Share |
| 2010-09-17 | Dividend | Dividend-Rs.2.50 Per Share |
| 2009-09-17 | Other | Agm/Div-Rs.2/- Per Share |
| 2008-10-16 | Bonus | Bonus 1:1 |
| 2008-09-01 | Dividend | Dividend - 100% |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Mining and Quarrying: Mining of minerals (Lignite, Bauxite and others)
- Power: Electric Power Generation
| Sector | Commodities |
| Industry | Industrial Minerals |
| Sub-industry | Industrial Minerals |
| Symbol | GMDCLTD |
| BSE code | 532181 |
| ISIN | INE131A01031 |
| Face value | ₹2.0 |
| Incorporated | 1963-05-15 |
| Website | www.gmdcltd.com |
| Plants (India / abroad) | 21 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.