Gujarat Mineral Development Corporation Ltd
GMDCLTDGujarat Mineral Development Corporation Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it.
The sharpest disagreement: Foreign institutions moved +2.1 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (58 weeks in) while the P/E sits at the 96th percentile of its own 10-year range. Underneath, the last four quarters read deteriorating — profit −14.2% year on year, and 85% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Gujarat Mineral Development Corporation Ltd trades at ₹582, in a confirmed uptrend and 58 weeks into that stage. That is +0.9% against its own 200-day average. It sits at 37% of a 52-week range of ₹489 to ₹737. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (7 weeks and counting).
Today the stock is in a confirmed uptrend — week 58 of stage 2, confirmed. At ₹582 it trades +0.9% versus its 200-day average and sits at 37% of its 52-week range (₹489–₹737).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +940% while the NIFTY 500 moved +280% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (7 weeks and counting; last ahead the week of 2026-06-17) — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 96th percentile of its own range.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Gujarat Mineral Development Corporation Ltd trades at 31.8× P/E, at the pricey end of its own range (96th percentile). Its long-run median P/E is 11.4×, measured across 10.4 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 31.8× is at the pricey end of its own range (96th percentile), against a long-run median of 11.4× measured over 10.4 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +39.5% against a +33.6% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +53.5%/yr price move, ~+9.7%/yr came from earnings growth and ~+43.8 pp from the multiple (expanding); over 10y, of the +21.5%/yr price move, ~+2.7%/yr came from earnings growth and ~+18.8 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.
Stage: Improving Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Gujarat Mineral Development Corporation Ltd reads as improving on its fundamental arc. Improving — profit growth bottomed 7 quarters ago at −47.8% and has held its recovery at +39.5%, ROCE lifting at 16.5%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: a sustained climb off the trough is the setup this page is built to catch — the question moves to what you pay for it.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | −6.9% | −8.8% | +14.8% | +8.4% |
| Profit | +39.5% | −7.4% | — | +15.9% |
| EPS | +39.5% | −7.4% | — | +15.9% |
| Share price | +33.6% | +49.4% | +53.5% | +21.5% |
→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.
4-Factor Sector Score
41.4/100 — rank 10 of 13 in Mining/Minerals · 96% evidence confidence
Gujarat Mineral Development Corporation Ltd scores 41.4 out of 100 against the 13 companies it is compared with in Mining/Minerals, ranking 10. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 13.4 + 13.4 + 8 + 6.6 = 41.4. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Gujarat Mineral Development Corporation Ltd reported ₹814 Cr of revenue in the Mar 26 quarter, +3.6% year on year. Over 10 years it has compounded at 8.4% a year. The last full year, FY26, came in at ₹2,653 Cr. The last four reported quarters add to ₹2,654 Cr.
Gujarat Mineral Development Corporation Ltd reported ₹814 Cr of revenue in the Mar 26 quarter, +3.6% year on year. Over 10 years it has compounded at 8.4% a year. The last full year, FY26, came in at ₹2,653 Cr. The last four reported quarters add to ₹2,654 Cr.
FY26 revenue came in at ₹2,653 Cr (−6.9% on the year), capping 10 years at 8.4% compound. The latest quarter (Mar 26) printed ₹814 Cr, +3.6% year on year.
Pace check: the last four quarters averaged −7.3% growth against the decade's 8.4% — the current year is running slower than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew −6.9% over the last 4 quarters against +3.8%/yr over the last 8 — rolling over; TTM profit +39.5% vs +26.5%/yr — accelerating.
→ Revenue grew — did margins hold as it scaled? Next: 13.0% this quarter (−12.0 pp YoY).
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Gujarat Mineral Development Corporation Ltd's operating margin is 13.0% in the Mar 26 quarter, −12.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0% to 48.0%. The current quarter sits inside that band.
Gujarat Mineral Development Corporation Ltd's operating margin is 13.0% in the Mar 26 quarter, −12.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0% to 48.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 13.0%, −12.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 0.0%–48.0%.
🚨 Why the margin moved: operating margin went −11.9 pp year on year while gross margin went +1.5 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
→ Margins slipped — did that reach the bottom line? Next: profit −14.2% in the latest quarter.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Gujarat Mineral Development Corporation Ltd earned ₹194 Cr of net profit in the Mar 26 quarter, −14.2% year on year. Full-year FY26 profit was ₹957 Cr. The 10-year compound rate is 15.9%. That is 23.8% of the quarter's revenue. The same quarter a year earlier earned ₹226 Cr.
Gujarat Mineral Development Corporation Ltd earned ₹194 Cr of net profit in the Mar 26 quarter, −14.2% year on year. Full-year FY26 profit was ₹957 Cr. The 10-year compound rate is 15.9%. That is 23.8% of the quarter's revenue. The same quarter a year earlier earned ₹226 Cr.
Mar 26 profit was ₹194 Cr, −14.2% year on year. On the full year, FY26 printed ₹957 Cr (+39.5%), and the 10-year compound rate is 15.9%.
🚨 Why profit moved: revenue contributed +3.6% and the margin −12.0 pp — the quarter was revenue-led despite a thinner margin.
Pace comparison, last four quarters: profit +57.2% vs revenue −7.3%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
→ Profit rose — but did the cash follow? Next: 85% of the last 3 years' profit arrived as cash.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 85% of Gujarat Mineral Development Corporation Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹744 Cr of operating cash against ₹957 Cr of profit. After ₹1,075 Cr of capital spending, ₹−331 Cr was left as free cash.
FY26: operating cash of ₹744 Cr against reported profit of ₹957 Cr, leaving free cash of ₹−331 Cr after ₹1,075 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 85% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 85%: the cash cycle tightened 30 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.
Router verdict: the bigger cash user is investment — capital spending ran 7.1× depreciation over three years, so the next section's job is to check what that build-out is buying.
→ So follow the cash to where it goes. Next: ₹2,062 Cr of building over 3 years.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Gujarat Mineral Development Corporation Ltd's cash conversion cycle runs 10 days in FY26, down from 40 days in FY21. Capital spending ran ₹2,062 Cr over the last 3 years. At FY26 sales of ₹2,653 Cr each day of that cycle holds about ₹7.3 Cr, so roughly ₹73.0 Cr sits inside the business at any moment.
FY26: debtors at 10 days (an asset-light business — no inventory to speak of) — for a full cycle of 10 days, tighter than FY21's 40.
In money terms: at FY26 sales of ₹2,653 Cr, each day of the cycle holds about ₹7.3 Cr — so the 10-day loop keeps roughly ₹73.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹2,062 Cr over the last 3 fiscal years against ₹290 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹215 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
→ Does all this activity actually earn its cost of capital? Next: ROCE is 11% and the ROIC − WACC spread is −8.3 pp.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Gujarat Mineral Development Corporation Ltd earns a ROCE of 11% in FY26. That is up from a trough of 1% in FY21. Return on invested capital clears the cost of that capital by −8.3 percentage points, so growth here is not yet paying for the capital it uses. The wiring behind it is 36.1% net margin on 0.30× asset turns.
FY26 ROCE is 11%, recovered from a FY21 trough of 1% — the full ladder below shows the fall and the climb, undoctored.
🚨 Why the return is what it is — the wiring (FY26): 36.1% net margin × 0.30× asset turns × 1.27× balance-sheet leverage ≈ 13.8% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 3.7% − 12.0% = a −8.3 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Negative — growth at these returns destroys value until the returns recover.
→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.04.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Gujarat Mineral Development Corporation Ltd carries total debt of ₹317 Cr against shareholder equity of ₹7,073 Cr as of Mar 26, a debt-to-equity of 0.04 — effectively unlevered. On the annual view that ratio went from 0.00 in FY22 to 0.04 in FY26. The returns elsewhere on this page are therefore earned rather than borrowed.
Mar 26: total debt of ₹317 Cr against shareholder equity of ₹7,073 Cr — a debt-to-equity of 0.04. On the annual view, debt-to-equity went from 0.00 (FY22) to 0.04 (FY26). The returns on this page are earned, not borrowed.
→ Who owns this, and are they adding or leaving? Next: Foreign institutions added 2.1 points over 8 quarters.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Foreign institutions added 2.1 points of Gujarat Mineral Development Corporation Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 3.7% of the company. Domestic institutions moved −0.2 points over the same window, to 0.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +2.1 points over 8 quarters to 3.7%; Domestic institutions: −0.2 points over 8 quarters to 0.8%; Promoters: +0.0 points over 8 quarters to 74.0%.
Why the register moved: foreign institutions drove it (+2.1 points) — steady accumulation by institutions reading the same numbers this page reads.
→ One last check: does the safety math agree? Next: the balance-sheet safety line.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Gujarat Mineral Development Corporation Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | P/E | Mkt cap | Revenue | EPS | ROCE | Stage |
|---|---|---|---|---|---|---|
| Gujarat Mineral Development Corporation Ltd this page | 31.8× | ₹17,889 Cr | Mixed | |||
| Coal India Ltd | 8.5× | ₹2.6L Cr | Deteriorating | |||
| Vedanta Ltd | 6.0× | ₹1L Cr | Mixed | |||
| KIOCL Ltd | 1,279.0× | ₹21,195 Cr | No read | |||
| Bharat Coking Coal Ltd | — | ₹16,295 Cr | No read | |||
| Indian Metals & Ferro Alloys Ltd | 17.0× | ₹7,230 Cr | Turning around | |||
| Ashapura Minechem Ltd | 16.4× | ₹6,659 Cr | Mixed | |||
| MOIL Ltd | 52.6× | ₹5,471 Cr | No read | |||
| Midwest Energy Ltd | — | ₹4,874 Cr | No read | |||
| Deccan Gold Mines Ltd | — | ₹3,865 Cr | No read | |||
| Orissa Minerals Development Company Ltd | — | ₹2,248 Cr | No read | |||
| Deccan Gold Mines Ltd | — | ₹1,755 Cr | No read | |||
| South West Pinnacle Exploration Ltd | 19.1× | ₹763 Cr | Mixed | |||
| 20 Microns Ltd | 10.9× | ₹721 Cr | Consistent |
Frequently asked questions
What is Gujarat Mineral Development Corporation Ltd's share price today?
Gujarat Mineral Development Corporation Ltd trades at ₹582, +33.6% over the past year. The company is valued at ₹17,889 Cr. The stock sits at 37% of its 52-week range of ₹489–₹737, +0.9% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 58 weeks in. — as of 24 July 2026.
What were Gujarat Mineral Development Corporation Ltd's latest quarterly results?
Gujarat Mineral Development Corporation Ltd reported revenue of ₹814 Cr and net profit of ₹194 Cr for the Mar 26 quarter. Revenue rose 3.6% and profit fell 14.2% year on year. Earnings per share were ₹6.10. The operating margin was 13.0%, 12.0 pp lower than a year earlier. — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's revenue?
Gujarat Mineral Development Corporation Ltd reported revenue of ₹814 Cr in the Mar 26 quarter, +3.6% year on year. For the full FY26 fiscal year, revenue was ₹2,653 Cr (−6.9%). Over the last 10 years revenue compounded at 8.4% a year. — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's profit?
Gujarat Mineral Development Corporation Ltd earned ₹194 Cr of net profit in the Mar 26 quarter, −14.2% year on year. Full-year FY26 profit was ₹957 Cr. The operating margin ran 13.0% in the latest quarter. — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's market cap?
Gujarat Mineral Development Corporation Ltd's market capitalisation is ₹17,889 Cr at a share price of ₹582. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's P/E ratio?
Gujarat Mineral Development Corporation Ltd trades at a P/E of 31.8×, at the 96th percentile of its own 10-year range, against a long-run median of 11.4×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.
Does Gujarat Mineral Development Corporation Ltd pay a dividend?
Yes — Gujarat Mineral Development Corporation Ltd's dividend payout was 32% of profit in FY26, and it recorded a payout in 12 of its last 13 reported fiscal years. One of those years shows a negative ratio because profit itself was negative. — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd overvalued?
On its own history, Gujarat Mineral Development Corporation Ltd looks expensive against its own history: its P/E of 31.8× sits at the 96th percentile of its 10-year range (long-run median 11.4×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd growing?
Not right now — Gujarat Mineral Development Corporation Ltd's latest numbers are shrinking: latest-quarter revenue +3.6% year on year, profit −14.2%, and the margin −12.0 pp at 13.0%. The 10-year compound rates are 8.4% (revenue) and 15.9% (profit). The earnings engine currently reads: deteriorating — as of 24 July 2026.
How is Gujarat Mineral Development Corporation Ltd performing?
Gujarat Mineral Development Corporation Ltd is in a confirmed uptrend, 58 weeks in. Its latest quarter's revenue rose 3.6% and profit fell 14.2% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 7 weeks. This describes what the data did, not a rating. — as of 24 July 2026.
What stage is Gujarat Mineral Development Corporation Ltd in?
Improving — profit growth bottomed 7 quarters ago at −47.8% and has held its recovery at +39.5%, ROCE lifting at 16.5%. The read comes from the last 12 quarters of growth (revenue growth −6.9% latest, profit growth +39.5% latest, eps growth +39.5% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 58 of stage 2), trading +0.9% versus its 200-day average and at 37% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd beating the market?
Not lately — on a trailing-13-week view Gujarat Mineral Development Corporation Ltd is currently behind the NIFTY 500 (7 weeks and counting; last ahead the week of 2026-06-17), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +940% against the NIFTY 500's +280% — ahead of the index over the full window. — as of 24 July 2026.
Will Gujarat Mineral Development Corporation Ltd's share price go up?
This page publishes no price forecast for Gujarat Mineral Development Corporation Ltd. What it measures instead: the share price is ₹582, the price is in a confirmed uptrend 58 weeks in. Its P/E of 31.8× sits at the 96th percentile of its own 10-year range. — as of 24 July 2026.
Who owns Gujarat Mineral Development Corporation Ltd?
Promoters hold 74.0% of Gujarat Mineral Development Corporation Ltd, foreign institutions 3.7%, domestic institutions 0.8% and the public 21.5% (latest quarter). The biggest move on the register over the last two years: Foreign institutions added 2.1 points over 8 quarters. — as of 24 July 2026.
Does Gujarat Mineral Development Corporation Ltd have too much debt?
No — Gujarat Mineral Development Corporation Ltd's debt-to-equity is 0.04, and operating profit covers the interest bill 63×. FY26 borrowings were ₹317 Cr against equity of ₹7,073 Cr. The returns on this page are earned, not borrowed — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's capex?
Gujarat Mineral Development Corporation Ltd spent ₹2,062 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹1,075 Cr, with ₹215 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.
What is Gujarat Mineral Development Corporation Ltd's cash flow?
Gujarat Mineral Development Corporation Ltd generated ₹744 Cr of operating cash flow in FY26 and ₹−331 Cr of free cash flow after ₹1,075 Cr of capital spending. Reported profit that year was ₹957 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd's profit real cash?
Yes — over the last 3 fiscal years, 85% of Gujarat Mineral Development Corporation Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹744 Cr against reported profit of ₹957 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 24 July 2026.
Where is Gujarat Mineral Development Corporation Ltd in its business cycle?
Gujarat Mineral Development Corporation Ltd's FY26 operating margin was 17.0%, against a 13-year band of 0.0%–48.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 13.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.
What could break the Gujarat Mineral Development Corporation Ltd story?
The sharpest disagreement: Foreign institutions moved +2.1 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.
Is Gujarat Mineral Development Corporation Ltd a stock worth studying right now?
This is not investment advice. The machine read: Gujarat Mineral Development Corporation Ltd's three tracks disagree. Price, valuation and the earnings engine each tell a different story — the next quarter or two settles it. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.