Gujarat Mineral Development Corporation share price
NSE: GMDCLTDBSE: 532181Minerals & MiningSmall Cap
Last close ₹424.60down ₹10.40 (2.39%)BSE ₹424.55
Share price at the NSE close on 23 Oct 2026. Previous close ₹435.00.
52-week range of traded prices to 23 Oct 2026
₹416.40Low, 23 Oct 2026₹771.90High, 17 Apr 2026
- Next results date: the board meets on 30 Oct 2026 to consider: financial results.
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies.
- ₹13,502 Cr350th largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. The filing of 31 Jul 2026
- 14.1
- P/E without one-offsPrice to earnings without one-off items. Market cap divided by core profit: the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, less one-off items (exceptional items and the result of businesses sold or closed). Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹504 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 29.9
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. The filing of 14 May 2026
- 1.9
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 2.24%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it. The filing of 31 Jul 2026
- 14.2%
- ROE without one-offsReturn on equity without one-off items. Core profit, the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders less one-off items (exceptional items and the result of businesses sold or closed), as a percentage of the same net worth as the return on equity. Shown where the one-off items move that profit by more than a tenth. The last twelve months' profit includes ₹504 crore of one-off items, the largest of them in the quarter to Sep 2025.
- 6.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet. The filing of 31 Jul 2026
- 4.6%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026. The filing of 14 May 2026
- 0.04
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day.
- 11,64,02642.9% delivered
Results
Consolidated; ₹ crore, the charts by years to March, the table by quarter.Quarterly results
Quarter to Jun 2026, against the quarter beforeFiled 31 Jul
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹907 Crup 11.37%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹163 Crdown 15.80%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax.
- 18.0%
Revenue by year
Peak revenue ₹3,501 Cr, year to Mar 2023
Net profit by year, a loss in red
- Net profit
- Loss
A loss in 1 of the 10 years shown
| ₹ crore | Sep 2024Filed 23 Oct | Dec 2024Filed 31 Jan | Mar 2025Filed 10 Jun | Jun 2025Filed 25 Jul | Sep 2025Filed 14 Nov | Dec 2025Filed 13 Feb | Mar 2026Filed 14 May | Jun 2026Filed 31 Jul |
|---|---|---|---|---|---|---|---|---|
| Revenue | 593 | 653 | 786 | 733 | 528 | 579 | 814 | 907 |
| Net profit | 128 | 148 | 226 | 164 | 466 | 133 | 194 | 163 |
| Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. | 21.6% | 22.6% | 28.8% | 22.4% | 88.3% | 23.0% | 23.8% | 18.0% |
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- MiningMining, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹2,508 Cr92.1%
- PowerPower, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹216 Crup 34.59%7.9%
The pill is the change in revenue on the year before; the share is of all the businesses together.
Valuation
Today, against the company's own history.PE ratio and valuation history
Price to earningsPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit.
At or below today's level on 90% of 2,336 trading days over the last 10 years.
LowestHighest
Its median11.2Industry median14.4
Price to bookPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet.
At or below today's level on 70% of 1,849 trading days since May 2019.
LowestHighest
Its median1.0Industry median1.7
EV to EBITDAEnterprise value to EBITDA. Market cap plus borrowings less cash and bank balances, divided by operating profit before depreciation (revenue less operating expenses, without other income and one-off items) over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly): what the whole business costs against the profit its operations make. Lease liabilities are not counted: the results filings do not state them.28.5
At or below today's level on 73% of 1,240 trading days over the last 5 years.
LowestHighest
Its median15.1Industry median9.9
Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price. When a year's dividend goes ex later than the year before's, the yield reads zero for the days between; a run of under 60 such trading days is left out of the yield's medians and percentiles. The ex-date is the day from which a buyer of the share no longer gets the dividend.
At or below today's level on 32% of 2,476 trading days over the last 10 years.
LowestHighest
Its median2.71%Industry median0.71%
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | +115.1% | +39.5% | +53.1% | 1.7% |
| 3 years | +67.5% | −7.7% | +78.5% | 2.8% |
| 5 years | +63.2% | – | – | 3.9% |
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 1 and 3 years includes one-off items (exceptional items and the result of businesses sold or closed) of more than a tenth of the profit of the year to Mar 2026.
Mutual funds holding it
59 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 57 of the 57 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.Mutual fund holdings
- AddedAdded. Funds that held more shares than at the end of the month before.
- 23
- CutCut. Funds that held fewer shares than at the end of the month before.
- 34
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 2
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end.
- 1
| Fund | |||
|---|---|---|---|
 Nippon India Nifty Smallcap 250 Index FundNippon India Mutual Fund | 1,27,948 | 0.19% | ₹6.50 Cr |
 HDFC Nifty Smallcap 250 ETFHDFC Mutual Fund | 1,00,396 | 0.19% | ₹5.10 Cr |
 Mirae Asset Nifty Smallcap 250 Momentum Quality 100 ETFMirae Asset Mutual Fund | 67,833 | 0.37% | ₹3.44 Cr |
 SBI Nifty Smallcap 250 Index FundSBI Mutual Fund | 64,995 | 0.19% | ₹3.30 Cr |
 Motilal Oswal Nifty Smallcap 250 Index FundMotilal Oswal Mutual Fund | 46,104 | 0.19% | ₹2.34 Cr |
| Nippon India Nifty 500 Momentum 50 Index FundNippon India Mutual Fund | 45,785 | 0.18% | ₹2.32 Cr |
 ICICI Prudential Nifty Smallcap 250 Index FundICICI Prudential Mutual Fund | 29,143 | 0.19% | ₹1.48 Cr |
| Motilal Oswal Nifty 500 Momentum 50 Index FundMotilal Oswal Mutual Fund | 28,200 | 0.18% | ₹1.43 Cr |
| HDFC Nifty Smallcap 250 Index FundHDFC Mutual Fund | 27,949 | 0.19% | ₹1.42 Cr |
 Edelweiss Nifty500 Multicap Momentum Quality 50 Index FundEdelweiss Mutual Fund | 25,916 | 0.22% | ₹1.32 Cr |
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.
Peers and competitors
Industrial Minerals, 15 listed companies, priced on 23 Oct 2026. The table lists the 8 companies closest to Gujarat Mineral Development Corporation in market cap.
Where the company sits among the companies nearest its size
| Company | |||||||||
|---|---|---|---|---|---|---|---|---|---|
 Lloyds Metals and EnergyLLOYDSME | 1,00,307 | 21.0 | 7.2 | 14.5 | +233.8% | +210.7% | 47.0% | 21.0% | 0.06% |
 NMDCNMDC | 58,334 | 7.8 | 1.7 | 5.7 | – | – | 21.9% | 22.0% | 5.28% |
 Gravita IndiaGRAVITA | 9,914 | 25.3 | 4.0 | 23.5 | +17.5% | +15.8% | 17.3% | 12.5% | 0.00% |
 MOILMOIL | 4,386 | 14.4 | 1.6 | 7.8 | +5.8% | +8.1% | 11.4% | 10.9% | 2.47% |
 Ashapura MinechemASHAPURMIN | 4,017 | – | 2.4 | 9.3 | +62.6% | – | – | 13.5% | 0.48% |
 The Orissa Minerals Development CompanyORISSAMINE | 1,939 | 582.0 | – | 120.2 | +47.4% | – | – | 18.7% | 0.00% |
 Petro Carbon and ChemicalsPCCL | 988 | 38.6 | 5.1 | – | +94.8% | +170.8% | 14.0% | – | 0.00% |
 20 Microns20MICRONS | 617 | 9.1 | 1.3 | 5.5 | +2.4% | +10.4% | 14.8% | 16.3% | 0.71% |
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.
Dividends
Per share, by the year it was paid for, and the latest payments.Dividend history and dates
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up.Highest ₹11.45 a share, year to Mar 2023.
| Ex-date | Type | Per share |
|---|---|---|
| 23 Sep 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹9.50 |
| 18 Sep 2025 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹10.10 |
| 20 Sep 2024 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹9.55 |
| 22 Sep 2023 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹11.45 |
| 22 Sep 2022 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹4.30 |
| 17 Nov 2021 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. | ₹0.20 |
Latest payments, as declared, by ex-date.
Latest announcements
Routine notices left out.Share news and announcements
Oct 2026
19 Oct · Updates
Sep 2026
Gujarat Mineral Development Corporation share price by year
Each calendar year to 2025.Gujarat Mineral Development Corporation share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 598.75 | +86.1% | 630.30 | 238.38 |
| 2024 | 321.80 | −20.9% | 495.60 | 310.70 |
| 2023 | 407.00 | +177.5% | 433.55 | 124.40 |
| 2022 | 146.65 | +98.6% | 218.15 | 73.75 |
| 2021 | 73.85 | +40.4% | 79.20 | 53.05 |
| 2020 | 52.60 | −14.5% | 69.80 | 29.85 |
| 2019 | 61.55 | −31.0% | 91.70 | 55.15 |
| 2018 | 89.20 | −46.6% | 172.25 | 82.20 |
| 2017 | 167.15 | +82.7% | 175.15 | 93.05 |
| 2016 | 91.50 | +8.0% | 114.95 | 54.05 |
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.
Recent sessions
The last 10 trading days to 23 Oct 2026, as traded on NSE.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 23 Oct 2026 | 435.00 | 435.15 | 416.40 | 424.60 | 423.40 | 11,64,026 | 42.9% |
| 22 Oct 2026 | 441.00 | 443.70 | 431.60 | 435.00 | 436.95 | 7,57,116 | 38.5% |
| 21 Oct 2026 | 455.10 | 455.90 | 441.35 | 443.00 | 446.51 | 7,10,396 | 40.5% |
| 19 Oct 2026 | 471.45 | 472.80 | 456.00 | 458.75 | 463.56 | 4,56,655 | 41.3% |
| 16 Oct 2026 | 468.15 | 474.40 | 462.05 | 471.05 | 469.78 | 5,38,816 | 28.7% |
| 15 Oct 2026 | 474.50 | 478.20 | 466.00 | 467.50 | 471.81 | 4,52,787 | 43.1% |
| 14 Oct 2026 | 479.30 | 482.00 | 474.05 | 474.95 | 478.09 | 4,44,262 | 42.3% |
| 13 Oct 2026 | 470.00 | 481.00 | 462.70 | 480.15 | 472.66 | 10,98,862 | 38.1% |
| 12 Oct 2026 | 465.00 | 478.90 | 465.00 | 468.35 | 471.62 | 6,29,889 | 31.9% |
| 9 Oct 2026 | 465.50 | 471.25 | 458.05 | 462.15 | 465.01 | 6,94,388 | 33.8% |
Prices in ₹ per share as traded, not adjusted.
Price adjustments
What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history
| Ex-date | Event | Price factor | What happened |
|---|---|---|---|
| 16 Oct 2008 | Bonus | 0.5000 | Holders received 1 bonus share for every 1 held. |
| 8 Nov 2007 | Split | 0.2000 | Each share became 5. |
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.
About Gujarat Mineral Development Corporation
Gujarat Mineral Development Corporation is a mining company owned by the Government of Gujarat, with its head office in Ahmedabad. It has grown over more than six decades from a state mining company. It was incorporated in 1963.
Lignite is the company's main product, and its lignite operations are spread across Gujarat. It supplies lignite to industries such as textiles across Gujarat. It also mines bauxite from 11 mining leases at Mevasa and the Gadhsisa group of mines, and the bauxite goes to cement, refractories and chemicals makers. In Odisha, it holds three commercial coal assets. It is also developing a copper project at Ambaji and a rare earth elements project at Ambadungar.
The company generates power as well. Its renewable portfolio of 205.9 MW comprises seven wind projects and the 5 MW Panandhro Solar Project. It also owns the Lakhpat Thermal Power Station in Kutch, a lignite-based power station.
Three specialised bodies support the business: the International Center of Excellence in Mining, the Gujarat Mineral Research Industrial Consultancy Society and the GMDC Science and Research Centre. Its community work runs through the Gramya Vikas Trust, which operates across Gujarat and Odisha.
The Government of Gujarat is the company's promoter. A promoter is the person or group that set up a company or controls it. The Government of Gujarat holds 74.00% of the paid-up equity share capital.
- Legal name
- Gujarat Mineral Development Corporation Limited
- NSE symbol
- GMDCLTD
- BSE code
- 532181
- ISIN
- INE131A01031
- Industry
- Minerals & Mining
- Listed
- Dec 1997 on NSE, Jan 1998 on BSE
- Face value
- ₹2
- CIN
- L14100GJ1963SGC001206
- Corporate identity number, the registrar of companies' code for it
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