Gujarat Mineral Development Corporation Ltd.
NSE: GMDCLTDGujarat Mineral Development Corporation Ltd.: A 30-second snapshot
Gujarat Mineral Development Corporation (GMDCLTD) is a state-owned minerals mining company trading at ₹652.60, up 113.64% over the past 12 months and positioned above both its 50-DMA (₹624.68) and 200-DMA (₹557.48). FY26 results reported on 14–15 May 2026 showed consolidated PAT up 45% to ₹991 Cr, with a ₹9.50/share dividend declared, though a ₹523 Cr exceptional GST credit was a notable component. Trailing PE stands at 21.73 with D/E of 4.475 and a 5-year earnings CAGR of −14.3%.
P/E
21.7
Forward P/E
23.3
ROE
+14.2%
Debt / Equity
4.47
Profit Margin
+31.1%
Div. Yield
+1.6%
5Y ROE > 15%
1/5
5Y FCF > 0
3/5
Quality
37/100
News
5 headlines · 2 positive · 0 negative
GMDC FY26 Annual Results: Consolidated Net Profit Jumps to ₹956.67 Crore, Dividend at ₹9.50/Share - scanx.trade
scanx.trade
GMDC FY26 Results: PAT Up 45% to ₹991 Cr, Exceptional GST Credit of ₹523 Cr, ₹9.50 Dividend Declared - PSU Connect
PSU Connect
Gujarat Mineral Development Corporation Ltd March-quarter consol profit 1.94 billion rupees - marketscreener.com
marketscreener.com
Gujarat Mineral Development Corporation Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2026 - marketscreener.com
marketscreener.com
Gujarat Mineral Development Corporation Ltd March-Quarter Consol Profit 1.94 Billion Rupees - TradingView
TradingView
Recent context
- ·FY26 full-year results (announced 14–15 May 2026): consolidated net profit reported at ₹956.67–₹991 Cr depending on the reporting basis, with a ₹9.50/share dividend. A ₹523 Cr GST credit was flagged as an exceptional item by PSU Connect.
- ·The stock has gained 113.64% over 12 months against a 52-week high drawdown of only −15.46%, placing it near the upper half of its annual range at ₹652.60 with resistance levels identified at ₹754.30 and ₹771.90.
- ·Single analyst coverage with a rating of 4 on a 1–5 scale (1 = more constructive, 5 = less constructive); the limited sell-side attention reflects GMDCLTD's niche as a mid-cap PSU mining company.
Strengths
- +Profit margin of 31.09% is high relative to most Metals-sector peers, reflecting the pricing power typical of a government-backed mineral extraction franchise.
- +Stock is trading 17.0% above its 200-DMA (₹557.48) and 4.5% above its 50-DMA (₹624.68), with RSI at 45.87 (neutral) — price is in an uptrend without being in an extended overbought condition.
- +Dividend yield of 1.55% with a ₹9.50/share declared for FY26 provides a cash return signal alongside capital appreciation over the past year.
- +5-year revenue growth of 8% shows moderate top-line expansion even as earnings have been compressed, suggesting revenues have grown but cost or tax structures have weighed on net earnings.
Weaknesses
- −D/E of 4.475 with a rising debt trend is materially elevated for a mining company; financial leverage at this level increases vulnerability to commodity-price or revenue cycles.
- −5-year earnings CAGR of −14.3% reflects a persistently declining profitability trend; ROE of 14.19% exceeded 15% in only 1 of the tracked years, and consistency score is 31/100.
- −FY26 headline PAT included a ₹523 Cr exceptional GST credit; stripping that out, the underlying operating profit picture may be materially weaker than the reported 45% PAT growth implies.
- −Quality score of 34 ranks 4th among 6 Metals-sector peers, with FCF positive in only 3 of tracked years — capital generation has not been reliable across cycles.
Open questions
- ?How much of FY26's PAT growth is attributable to the ₹523 Cr GST credit versus underlying operational improvement, and what does the trajectory look like excluding that exceptional item?
- ?Does the rising D/E trend reflect capex for capacity expansion in ligite or other minerals, or is it financing operational shortfalls — and how does management plan to address leverage over the next 2–3 years?
- ?Given that 5-year earnings CAGR is −14.3% while the stock is up 113.64% over 12 months, what fundamental shift — if any — has the market priced in, and is that shift visible in the order book or production data?
- ?How exposed is GMDCLTD's revenue base to a single commodity (lignite) versus diversified minerals, and how has that concentration affected profitability through past commodity cycles?
Peer comparison: Metals
Ranks 4 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| GMDCLTD | Gujarat Mineral Development Corporation Ltd.You're viewing | 21.7 | +14.2% | 34 |
| Industry avg | across 5 peers | 23.8 | +17.4% | 37 |
| JSWSTEEL | JSW Steel Ltd. | 14.0 | +27.3% | 45 |
| TATASTEEL | Tata Steel Ltd. | 29.5 | +11.2% | 42 |
| HINDALCO | Hindalco Industries Ltd. | 14.7 | — | 38 |
| ADANIENT | Adani Enterprises Ltd. | 36.9 | +13.7% | 22 |
| DUMMYVEDL1 | Dummy Vedanta Ltd. 1 | — | — | — |
Technical state
Current price
₹652.60
SMA 50
₹624.68
SMA 200
₹557.48
RSI (14)
45.9 (neutral)
From 52w high
-15.5%
1Y return
+113.6%
3M return
+9.8%
50-DMA
Above
200-DMA
Above
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highDebt-to-equity of 4.475 is materially elevated for a non-financial mining company; the debt trend is classified as rising, amplifying balance-sheet risk if commodity prices soften.
- high5-year earnings growth of −14.3% shows a persistent contraction in profitability over the medium term. ROE of 14.19% cleared 15% in only 1 of the tracked years; consistency score of 31/100 and FCF positive in 3 of tracked years together indicate weak structural financial quality.
- mediumForward PE of 23.26 exceeds trailing PE of 21.73, implying the market prices in further earnings compression. Quality score of 34 ranks 4th out of 6 peers in the Metals sector.
- mediumPeer comparison is impaired: all 4 valid peers have null priceChange1Y; one peer entry is a dummy placeholder (DUMMYVEDL1). Sector rankings on price performance are unavailable.
- lowNews sample is sparse at 5 articles, all clustered around the FY26 results announcement on 14–15 May 2026. Sentiment read is event-driven and may not reflect sustained news flow.
Cross-section contradictions
- 5-year earnings growth is −14.3% and ROE has been above 15% in only 1 year, yet the stock is up 113.64% over 12 months and trades above both the 50-DMA (₹624.68) and 200-DMA (₹557.48) — price appreciation has significantly outpaced the medium-term earnings trajectory.
- FY26 PAT rose 45% to ₹991 Cr (including a one-time GST credit of ₹523 Cr per news), yet the 5-year earnings growth figure of −14.3% reflects a structurally declining earnings base — the recent headline profit jump appears driven by an exceptional item rather than organic improvement.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 24 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 17 May 2026 · rotates through NIFTY 500 every ~5 days