Latest news with #GMDC
Business Standard
3 days ago
- 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.
Economic Times
23-07-2025
- Business
- Economic Times
GMDC shares rally 25% in 5 days on rare earth buzz; stock at 52-week high
Rare earth PSU stock Gujarat Mineral Development Corporation (GMDC) climbed as much as 3.2% on Wednesday to hit a 52-week high of Rs 472.4 on the BSE, extending its sharp five-session rally to nearly 25%. The surge in share price came amid heightened interest in rare earth companies, driven by trade developments out of China and domestic policy buzz. ADVERTISEMENT More than 63.5 lakh GMDC shares were traded on Wednesday, with turnover crossing Rs 295 crore. Overall, the stock has jumped 24.7% in the last five trading sessions, including Wednesday's intraday gains. The rally has pushed GMDC's year-to-date performance to 43.5%, with a 49% rise over the past six months and an 18% gain in just the last month. The renewed investor interest in rare earth producers comes amid speculation around a potential meeting chaired by Prime Minister Narendra Modi on rare earth magnets. On Wednesday, GMDC witnessed trading volumes of over 1.9 crore shares, nearly three times higher than its 10-day average, signalling strong institutional and retail to the backdrop, China's latest export data revealed a sharp increase in shipments of rare earth magnets in June. Total exports rose to 3,188 tons from just 1,238 tons in May, a period marked by tightened export curbs. The recovery in outbound shipments has helped ease some global supply concerns that had earlier threatened manufacturing operations across several geographies. Shares of fellow PSU player NLC India rose as much as 2.8% on Wednesday to Rs 248.05 on the BSE, supported by developments related to both its renewable energy business and rare earth ambitions. ADVERTISEMENT Chairman and Managing Director Prasanna Kumar Motupalli told PTI that NLC India aims to raise Rs 4,000 crore via an IPO of its renewable arm, NLC India Renewables Ltd (NIRL), with draft papers expected to be filed with Sebi in the first quarter of FY27. Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results? ADVERTISEMENT The company has also been stepping up its involvement in the critical minerals space. In May, NLC India signed a memorandum of understanding with Indian Rare Earths Limited (IREL) to collaborate in the development of critical activity in NLC India was also brisk, with over 29.69 lakh shares changing hands on Wednesday, translating to turnover worth Rs 72.54 crore. The stock is now up 6.7% in the past six months, though its gains for 2025 stand at a more modest 1%. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
23-07-2025
- Business
- Time of India
GMDC shares rally 25% in 5 days on rare earth buzz; stock at 52-week high
Rare earth PSU stock Gujarat Mineral Development Corporation ( GMDC ) climbed as much as 3.2% on Wednesday to hit a 52-week high of Rs 472.4 on the BSE, extending its sharp five-session rally to nearly 25%. The surge in share price came amid heightened interest in rare earth companies, driven by trade developments out of China and domestic policy buzz. More than 63.5 lakh GMDC shares were traded on Wednesday, with turnover crossing Rs 295 crore. Overall, the stock has jumped 24.7% in the last five trading sessions, including Wednesday's intraday gains. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Degree Artificial Intelligence Product Management others Cybersecurity Design Thinking Finance Data Science MCA Data Analytics Technology Data Science PGDM Project Management Public Policy healthcare Management Leadership Operations Management Others Healthcare CXO Digital Marketing Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The rally has pushed GMDC's year-to-date performance to 43.5%, with a 49% rise over the past six months and an 18% gain in just the last month. The renewed investor interest in rare earth producers comes amid speculation around a potential meeting chaired by Prime Minister Narendra Modi on rare earth magnets. On Wednesday, GMDC witnessed trading volumes of over 1.9 crore shares, nearly three times higher than its 10-day average, signalling strong institutional and retail activity. Adding to the backdrop, China's latest export data revealed a sharp increase in shipments of rare earth magnets in June. Total exports rose to 3,188 tons from just 1,238 tons in May, a period marked by tightened export curbs. The recovery in outbound shipments has helped ease some global supply concerns that had earlier threatened manufacturing operations across several geographies. Live Events NLC India also rallies Shares of fellow PSU player NLC India rose as much as 2.8% on Wednesday to Rs 248.05 on the BSE, supported by developments related to both its renewable energy business and rare earth ambitions. Chairman and Managing Director Prasanna Kumar Motupalli told PTI that NLC India aims to raise Rs 4,000 crore via an IPO of its renewable arm, NLC India Renewables Ltd (NIRL), with draft papers expected to be filed with Sebi in the first quarter of FY27. Also read | Aditya Birla Real Estate shares down 32% from peak. Can the stock reclaim Rs 2,400 post Q1 results? The company has also been stepping up its involvement in the critical minerals space. In May, NLC India signed a memorandum of understanding with Indian Rare Earths Limited (IREL) to collaborate in the development of critical minerals. Trading activity in NLC India was also brisk, with over 29.69 lakh shares changing hands on Wednesday, translating to turnover worth Rs 72.54 crore. The stock is now up 6.7% in the past six months, though its gains for 2025 stand at a more modest 1%.
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Business Standard
22-07-2025
- Business
- Business Standard
GMDC hits 18-month high. What's driving minerals stock 23% rally in 3 days?
Gujarat Mineral Development Corporation (GMDC) share price today Shares of Gujarat Mineral Development Corporation (GMDC) hit a 18-month high at ₹468, as they rallied 7 per cent on the BSE in Tuesday's intra-day trade amid heavy volumes in an otherwise subdued market. In the past three days, the stock has surged 23 per cent. The stock price of the industrial minerals company was trading at its highest level since February 2024. It had hit a record high of ₹505 on February 5, 2024. The stock has more-than-doubled or zoomed 107 per cent from its 52-week low of ₹226.20 hit on March 3, 2025. At 11:56 AM; GMDC was quoting 6 per cent higher at ₹462.80, as compared to 0.03 per cent rise in the BSE Sensex. The average trading volumes at the counter nearly doubled. A combined 14.63 million equity shares representing 4.6 per cent of total equity of GMDC changed hands on the NSE and BSE. Response to unusual price/ volume movement in the security of the company GMDC said the company has made all necessary disclosures within the stipulated timelines. At present, there is no unpublished price sensitive information (UPSI) or any other material information/event that, in the opinion of the company, may have a bearing on the price or volume behavior in the scrip of the company. GMDC made the clarification in response to a BSE Surveillance Email dated July 21, 2025 regarding an unusual price/volume movement in the security of the company. Q1FY26 results on July 25, 2025 The board of directors of the GMDC will meet on July 25, 2025 to consider and approve the unaudited financial results for the quarter ended on June 30, 2025. GMDC - Q4FY25 performance The company maintained a steady performance across key financial and operational metrics, reflecting its focus on stability, efficiency, and disciplined execution. Q4FY25 marked the 3rd highest quarterly revenue from operations (₹786 crore) and profit before tax (PBT) (₹284 crore) in GMDC's history. 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, the management said. Looking ahead, GMDC estimates 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. What led to the over 100% surge in GMDC's stock price from its 52-week low? According to media reports, the Ministry of Heavy Industries is preparing to roll out a subsidy scheme aimed at promoting domestic manufacturing of rare earth magnets. A proposed plan by India to spur local production of rare-earth magnets has drawn initial interest from a clutch of large conglomerates, 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. GMDC in its FY24 annual reports said that the company has been nominated as a prospective lessee for mining of Rare-earth elements (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.
Business Standard
18-07-2025
- Business
- Business Standard
GMDC rallies amid rare-earth magnet policy developments
Gujarat Mineral Development Corporation (GMDC) surged 13.56% to Rs 430.90, following reports that the Prime Minister's Office (PMO) may convene a stakeholder meeting to discuss the rare-earth magnet supply situation. GMDC is reportedly keen on entering the rare earth and critical minerals sector, considering it a potential value driver due to its applications in electric vehicles and renewable energy. Although formal details have not been disclosed, the company has reportedly allocated Rs 3,000-4,000 crore for critical mineral projects. This development follows industry concerns about supply disruptions, as several companies flagged informal restrictions by China on rare earth exports. In response, the government is reportedly considering a Rs 1,345 crore incentive scheme to support domestic rare-earth magnet manufacturing and may relax motor import norms to mitigate production risks in the automotive sector. GMDC's board will consider Q1 results on 25 July 2025. On a consolidated basis, GMDC's net profit rose 20.82% to Rs 226.22 crore while net sales rose 4.80% to Rs 786.28 crore in Q4 March 2025 over Q4 March 2024. 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, company markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power.
