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Business Standard
28-07-2025
- Business
- Business Standard
GMDC slips after Q1 PAT slides 11% YoY to Rs 164 cr
Gujarat Mineral Development Corporation (GMDC) fell 2.49% to Rs 423.30 after the company's standalone net profit declined 11.07% to Rs 164.13 crore on a 10.45% drop in revenue from operations to Rs 732.60 crore in Q1 FY26 over Q1 FY25. Profit before tax (PBT) stood at Rs 224.69 crore in the June 2025 quarter, marking a year-on-year decline of 9.98%. The company reported EBITDA margin reduced to 30% during the quarter as against 31% in the same quarter the previous year. On the segmental front, revenue from mining was at Rs 685.24 crore (down 11.04% YoY), and revenue from power stood at Rs 47.36 crore (down 31.37% YoY) during the period under review. GMDCs lignite sales dropped 13.91% YoY to 19.8 lakh MT in Q1 FY26 from 23 lakh MT in Q1 FY25. Lignite value declined 13.81% to Rs 649 crore from Rs 753 crore YoY. Roopwant Singh, IAS, MD, GMDC, said, "GMDC has delivered a steady performance in Q1FY26, with strong margins and healthy profitability despite a dip in revenue. We continue to focus on cost efficiency, operational discipline, and timely execution of key projects. Our efforts remain aligned with long-term value creation and supporting the nation's energy and mineral needs." GMDC is India's second-largest lignite-producing company and top merchant seller of lignite. It is a state public undertaking of the government of Gujarat. The company is engaged in mining lignite from deposit-rich areas across the state; the company markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks, and captive power.
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Business Standard
18-07-2025
- Business
- Business Standard
GMDC soars 11% in weak market on huge volumes; stock nears 52-week high
Gujarat Mineral Development Corporation (GMDC) share price today Shares of Gujarat Mineral Development Corporation moved higher by 11 per cent to ₹421.65 on the BSE in Friday's intra-day trade amid heavy volumes in an otherwise weak market. The stock price of the industrial minerals company was trading close to its 52-week high of ₹428 touched on July 1, 2025. It had hit a record high of ₹505 on February 5, 2024. The stock has bounced back 86 per cent from its 52-week low of ₹226.20 hit on March 3, 2025. At 01:34 PM: GMDC was trading 10.9 per cent higher at ₹420.80, as compared to 0.68 per cent decline in the BSE Sensex. The average trading volumes on the counter jumped nearly 10-fold. A combined 13.43 million equity shares changed hands on the NSE and BSE. What's driving the 86% surge in GMDC's stock price in past three-and-half months? According to media reports, the PMO is likely to hold a key stakeholder meeting on the rare-earth magnet crisis on July 18. The Ministry of Heavy Industries is preparing to roll out a subsidy scheme worth ₹1,345 crore aimed at promoting domestic manufacturing of rare earth magnets, Union Minister HD Kumaraswamy said on July 11, reported news agency PTI. The proposal is currently under inter-ministerial consultation. A proposed plan by India to spur local production of rare-earth magnets has drawn initial interest from a clutch of large conglomerates; Bloomberg had reported quoting people familiar with the matter, as the country seeks to cut its reliance on China for these vital electric-vehicle and wind-turbine materials. The Indian government is planning an incentive program for private sector firms manufacturing these magnets. Meanwhile, Roopwant Singh, Managing Director, GMDC, while announcing March 2025 quarter results on May 15, 2025 said that FY25 has been a year of steady performance and disciplined operations for GMDC. The company has remained focused on consistency and efficiency, while also moving ahead with key long-term projects. The progress made in Odisha, particularly in the Baitarani West block, reflects the company's future-ready approach and commitment to timely execution in line with national energy priorities. Looking ahead, GMDC estimate Capex outlay to the tune of ₹15,000 crore up to FY30, with key investments being ₹7,000 crore towards capacity expansion in Lignite, ₹2,500 crore for launch of Odisha mining operations and ₹4,000 crore towards new business build in Critical minerals space. Rare-earth elements (REE) are a group of 17 metals typically occurring together in natural geological environments. The suite of rare earths is split into two distinct sub-categories, the Light Rare-earth Elements (LREE) including Scandium (Sc) and the elements between Lanthanum (La) and Gadolinium (Gd), and the Heavy Rare-earth Elements (HREE) including Yttrium (Y) and the elements between Terbium (Eu) and Lutetium (Lu). GMDC in its FY24 annual reports said that the company has been nominated as a prospective lessee for mining of REE & other associated minerals by the Department of Atomic Energy (DAE) Government of India for one of the world's largest rare earth deposits at Ambadungar, a village in Chhota Udepur district of Gujarat and is in the process of preparation and approval of mining plan. GMDC further said its REE exploration project aims to establish India as a leading global player in this field, benefiting the country's economic and strategic development. The company plans to build a complete REE value chain, from mining to end-product manufacturing. Meanwhile, India is taking a multi-pronged, well-funded, and coordinated approach - with exploration, regulation, state capacity, private participation, recycling, diplomacy - and while the progress is rapid, building a full domestic rare-earth supply chain remains a multi-year journey. Long-term self-reliance is now a national mission, said analysts at InCred Equities.
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Business Standard
06-06-2025
- Business
- Business Standard
What's behind 40% surge in GMDC stock price in past one month?
Shares of GMDC moved higher by 8 per cent to hit an over 10-month high of ₹414 on the BSE in Friday's intra-day trade amid heavy volumes. SI Reporter Mumbai Share price of Gujarat Mineral Development Corporation (GMDC) today Shares of Gujarat Mineral Development Corporation (GMDC) moved higher by 8 per cent to hit an over 10-month high of ₹414 on the BSE in Friday's intra-day trade amid heavy volumes. The stock price of this industrial minerals company now quotes at its highest level since July 25, 2024. It had hit a 52-week high of ₹439.90 on July 9, 2024. In the past one month, GMDC outran the market by surging 40 per cent, as compared to 2 per cent rise in the BSE Sensex. It has bounced back 83 per cent from its 52-week low of ₹226.20 touched on March 3, 2025. At 02:33 PM: GMDC was quoting 7 per cent higher at ₹408.10, as compared to 0.92 per cent rise in the BSE Sensex. The average trading volumes at the counter jumped six-fold. A combined 14.53 million equity shares representing 4.6 per cent of total equity of GMDC changed hands on the NSE and BSE. What's driving the 40% surge in GMDC's stock price in the past one month? India's incentive scheme for recycling of critical minerals is in the final stages of getting approvals, as the country strives to meet its clean energy goals, according to a mines ministry government document, Reuters reported. The scheme, which will include lithium-ion batteries, will give a capex subsidy to eligible recyclers, according to the document shared with reporters at an event. India is planning to launch incentives for the recycling of 24 critical minerals this year, including lithium and cobalt, Reuters reported in April. According to media reports, GMDC has targeted to spend ₹13,000 crore in capital expenditure till 2030. An estimated 46 percent of this capex is expected to be spent on acquiring land for various projects including the coal mining projects in Odisha. Approximately ₹3,000- 4,000 crore (of the proposed capex) is for critical mineral projects - two of them. An additional ₹4,000 crore is for coal projects, ₹3,000 crore for lignite projects and the company would still need to spend in excess of ₹1,000 crore for existing lignite projects, as per reports quoting Roopwant Singh (IAS), Managing Director, GMDC. Meanwhile, Roopwant Singh, while announcing March 2025 quarter results on May 15, 2025 said that FY25 has been a year of steady performance and disciplined operations for GMDC. The company has remained focused on consistency and efficiency, while also moving ahead with key long-term projects. The progress made in Odisha, particularly in the Baitarani West block, reflects the company's future-ready approach and commitment to timely execution in line with national energy priorities. GMDC Outlook GMDC derives its strength from a distinguished track record of operations, a dominant position in the lignite mining sector, a diversified clientele spanning multiple industries, and favourable demand prospects. Looking ahead, GMDC has formulated strategic plans to significantly deepen its market presence by scaling up lignite production capacity by FY26. The company aims to elevate its lignite production to 15 million tonnes and is proactively seeking new mining leases to support this ambitious growth target. Additionally, GMDC is poised to leverage its substantial 1,700 million tonnes of limestone reserves, aspiring to become a long-term limestone supplier by commercialising these extensive resources, the company said in its FY24 annual report. About Gujarat Mineral Development Corporation GMDC is India's second-largest Lignite-producing company and top merchant seller of Lignite. It is a State Public Undertaking of the Government of Gujarat. The company is engaged in mining lignite from deposit-rich areas across the state, and markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power.
