Sector Alpha Week of 2026-07-29
20-quarter listed-company comparison

Mining/Minerals Stocks in India

Mining/Minerals: Coal India Ltd owns the largest revenue base; Midwest Energy Ltd has the fastest current growth.

Nifty Mining/Minerals Index — Constituents & Performance

The Mining/Minerals companies below are the listed Indian Mining/Minerals universe this page tracks — the same constituent set people search for as the Nifty Mining/Minerals index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.

The sector itself · before any single company

How has Mining/Minerals moved against NIFTY 500?

The line below covers 5.1 years. Over the most recent two of them this sector is 82% ahead of NIFTY 500. Earnings across its companies grew 9% on average over the last four reported quarters.

FADING · −3 in 4wPrice and the fundamentals both up2 of 12 companies ahead of NIFTY 500 by 5% or more over three months

RS ↑1w · 3/11 >200d (−4) · 2/12 lead (−3) · EPS 8/10↑

2005001000202620252024202320222021 1482336 TRAILING 12-MONTH EPS · 100 AT THE START0100131Sep 22Mar 23Sep 23Mar 24Sep 24Mar 25Sep 25Mar 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 77, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 56, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 42, against 100 at the start · no comparable year yet · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 62.8% on a year ago · 5 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 9.0% on a year ago · 8 reportingDec 2023 · trailing 12-month earnings per share at 109, against 100 at the start · up 22.5% on a year ago · 8 reportingMar 2024 · trailing 12-month earnings per share at 96, against 100 at the start · up 1.1% on a year ago · 8 reportingJun 2024 · trailing 12-month earnings per share at 102, against 100 at the start · up 26.1% on a year ago · 8 reportingSep 2024 · trailing 12-month earnings per share at 106, against 100 at the start · up 24.7% on a year ago · 8 reportingDec 2024 · trailing 12-month earnings per share at 113, against 100 at the start · down 0.9% on a year ago · 8 reportingMar 2025 · trailing 12-month earnings per share at 118, against 100 at the start · up 10.7% on a year ago · 8 reportingJun 2025 · trailing 12-month earnings per share at 118, against 100 at the start · up 11.1% on a year ago · 8 reportingSep 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 3.8% on a year ago · 9 reportingDec 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 7.0% on a year ago · 9 reportingMar 2026 · trailing 12-month earnings per share at 127, against 100 at the start · up 14.6% on a year ago · 9 reportingNot reported yet — earnings trail price by a quarter or two127 · Mar 26No earnings on file this far back — the price series reaches further than the filings doNO EARNINGS ON FILE
2005001000202620252024202320222021 1482336 TRAILING 12-MONTH EPS · 100 AT THE START0100131Mar 23Mar 24Mar 25Mar 26Jun 2022 · trailing 12-month earnings per share at 100, against 100 at the start · no comparable year yet · 3 reporting · thin coverageSep 2022 · trailing 12-month earnings per share at 77, against 100 at the start · no comparable year yet · 3 reporting · thin coverageDec 2022 · trailing 12-month earnings per share at 56, against 100 at the start · no comparable year yet · 3 reporting · thin coverageMar 2023 · trailing 12-month earnings per share at 42, against 100 at the start · no comparable year yet · 3 reporting · thin coverageJun 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 62.8% on a year ago · 5 reportingSep 2023 · trailing 12-month earnings per share at 100, against 100 at the start · down 9.0% on a year ago · 8 reportingDec 2023 · trailing 12-month earnings per share at 109, against 100 at the start · up 22.5% on a year ago · 8 reportingMar 2024 · trailing 12-month earnings per share at 96, against 100 at the start · up 1.1% on a year ago · 8 reportingJun 2024 · trailing 12-month earnings per share at 102, against 100 at the start · up 26.1% on a year ago · 8 reportingSep 2024 · trailing 12-month earnings per share at 106, against 100 at the start · up 24.7% on a year ago · 8 reportingDec 2024 · trailing 12-month earnings per share at 113, against 100 at the start · down 0.9% on a year ago · 8 reportingMar 2025 · trailing 12-month earnings per share at 118, against 100 at the start · up 10.7% on a year ago · 8 reportingJun 2025 · trailing 12-month earnings per share at 118, against 100 at the start · up 11.1% on a year ago · 8 reportingSep 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 3.8% on a year ago · 9 reportingDec 2025 · trailing 12-month earnings per share at 131, against 100 at the start · up 7.0% on a year ago · 9 reportingMar 2026 · trailing 12-month earnings per share at 127, against 100 at the start · up 14.6% on a year ago · 9 reportingNot reported yet — earnings trail price by a quarter or two127No earnings on file this far back — the price series reaches further than the filings do
Mining/Minerals, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling
Strength anatomy NarrowHow much of the sector is participating, how recently, and whether the movers score well.
Together2 of 12 stocks moving
Fresh0 crossed in the last 4 weeks
Backed by scoresmovers score +4 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large 0/3−1
Mid 1/4−1
Small 1/5−1

Participation is not spreading downward this month; the larger companies are still carrying most of it.

Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 12 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.

Sector relative strength · before individual stocks

Is Mining/Minerals outperforming NIFTY 500?

The 52-week comparison of Mining/Minerals against NIFTY 500 is not available from the current market series. 9 of 12 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Midwest Energy Ltd is the strongest against the sector itself at +97.8%. Readings are as of 2026-07-19.

Sector vs NIFTY 500 · 13 weeks
Sector vs NIFTY 500 · 52 weeks
9/12Stocks leading NIFTY 500
3/12Stocks leading sector

Sector metric: 78.9 as of 2026-07-19 · NARROWING · rising.

The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.

Bottom line

The 52-week sector comparison is unavailable. 9 of 12 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Coal India Ltd leads with revenue of ₹1,47,443 crore, based on 13 of 13 comparable companies through Mar 2026. Midwest Energy Ltd has the fastest current revenue growth at 100%, across 12 of 13 comparable companies.

Is the Mining/Minerals sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 9 of 12 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

Which Mining/Minerals company is largest by revenue?

Coal India Ltd leads with revenue of ₹1,47,443 crore, based on 13 of 13 comparable companies through Mar 2026.

Which Mining/Minerals company is growing fastest?

Midwest Energy Ltd has the fastest current revenue growth at 100%, across 12 of 13 comparable companies.

Which Mining/Minerals company has the strongest 4-Factor Sector Score?

South West Pinnacle Exploration Ltd ranks first at 77.1/100 with 87% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Mining/Minerals company has the least gross debt?

MOIL Ltd has the lowest comparable gross debt at ₹0 crore. Vedanta Ltd has the highest at ₹32,947 crore.

Which Mining/Minerals company has the lowest comparable PEG?

Vedanta Ltd has the lowest comparable Guarded PEG at 0.12, among 3 of 13 companies that pass the metric’s comparability rules.

How much history does this Mining/Minerals comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

Companies
13
complete canonical membership
Combined market value
₹4.5 L Cr
Coal India Ltd
Revenue growing
9/12
positive TTM year-on-year growth
Beating NIFTY 500
9/12
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
South West Pinnacle Exploration Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 87% evidence confidence.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

1. South West Pinnacle Exploration Ltd · SOUTHWEST

77.1/100 · Favorable setup · 87% evidence

Exact sum: 30.6 + 17.5 + 12.2 + 16.8 = 77.1

Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.

30.6/35Growth & earnings

Revenue 39.2% · PAT 100% · OPM change 9.8 pp

95% evidence

17.5/25Capital efficiency

ROCE 20% · debt/equity 0.39×

95% evidence

12.2/20Valuation

P/E 19.1× · PEG —

50% evidence

16.8/20Relative strength

RS sector 8.7% · RS bench 17.6% · 1Y 47.8%

100% evidence

2. Vedanta Ltd · VEDL

63.2/100 · Mixed-positive evidence · 93% evidence

Exact sum: 18.6 + 15.7 + 15.6 + 13.3 = 63.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.6/35Growth & earnings

Revenue -4.3% · PAT 22.2% · OPM change 0 pp

83% evidence

15.7/25Capital efficiency

ROCE 16.1% · debt/equity 0.66×

95% evidence

15.6/20Valuation

P/E 6× · PEG 0.12

100% evidence

13.3/20Relative strength

RS sector 1.8% · RS bench 9.7% · 1Y 56.9%

100% evidence

3. Ashapura Minechem Ltd · ASHAPURMIN

58.4/100 · Mixed-positive evidence · 73% evidence

Exact sum: 23.1 + 14.8 + 11.5 + 9 = 58.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

23.1/35Growth & earnings

Revenue 91.3% · PAT 43.8% · OPM change -9 pp

83% evidence

14.8/25Capital efficiency

ROCE 20.7% · debt/equity 0.88×

80% evidence

11.5/20Valuation

P/E 16.4× · PEG —

50% evidence

9.0/20Relative strength

RS sector -20.6% · RS bench 6.8% · 1Y 22.3%

70% evidence

4. Indian Metals & Ferro Alloys Ltd · IMFA

54.9/100 · Mixed-positive evidence · 96% evidence

Exact sum: 18.1 + 16.1 + 10.9 + 9.8 = 54.9

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

18.1/35Growth & earnings

Revenue 10.3% · PAT 12.4% · OPM change 9 pp

88% evidence

16.1/25Capital efficiency

ROCE 18.4% · debt/equity 0.35×

100% evidence

10.9/20Valuation

P/E 17× · PEG 1.08

100% evidence

9.8/20Relative strength

RS sector -0.4% · RS bench 8.1% · 1Y 78.2%

100% evidence

5. Coal India Ltd · COALINDIA

51.7/100 · Mixed-positive evidence · 79% evidence

Exact sum: 9.7 + 20.5 + 11.2 + 10.3 = 51.7

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

9.7/35Growth & earnings

Revenue 3.6% · PAT -12% · OPM change -4 pp

83% evidence

20.5/25Capital efficiency

ROCE 35.3% · debt/equity 0.12×

80% evidence

11.2/20Valuation

P/E 8.5× · PEG —

50% evidence

10.3/20Relative strength

RS sector -7.6% · RS bench 1.3% · 1Y 10.1%

100% evidence

6. Midwest Energy Ltd · 526570

51.6/100 · Thin evidence · provisional · 56% evidence

Exact sum: 21.9 + 4.8 + 10 + 14.9 = 51.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

21.9/35Growth & earnings

Revenue 100% · PAT -80% · OPM change 1202.9 pp

62% evidence

4.8/25Capital efficiency

ROCE -2.5% · debt/equity 0.75×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

14.9/20Relative strength

RS sector 97.8% · RS bench 3.4% · 1Y 218.8%

70% evidence

7. 20 Microns Ltd · 20MICRONS

50.1/100 · Mixed-positive evidence · 77% evidence

Exact sum: 14.9 + 17.1 + 11.9 + 6.2 = 50.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

14.9/35Growth & earnings

Revenue 4.5% · PAT 8.1% · OPM change -1 pp

83% evidence

17.1/25Capital efficiency

ROCE 17.3% · debt/equity 0.32×

95% evidence

11.9/20Valuation

P/E 10.9× · PEG —

50% evidence

6.2/20Relative strength

RS sector -40.9% · RS bench 3.5% · 1Y -22.8%

70% evidence

8. Deccan Gold Mines Ltd · DECNGOLD

49.2/100 · Mixed-negative evidence · 63% evidence

Exact sum: 21.5 + 8.1 + 10 + 9.6 = 49.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

21.5/35Growth & earnings

Revenue 71.5% · PAT -50.8% · OPM change 4492.4 pp

83% evidence

8.1/25Capital efficiency

ROCE -13.1% · debt/equity 0.1×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

9.6/20Relative strength

RS sector -23% · RS bench 48.8% · 1Y 45.7%

70% evidence

9. KIOCL Ltd · KIOCL

45.2/100 · Mixed-negative evidence · 65% evidence

Exact sum: 20.7 + 9.7 + 8.5 + 6.3 = 45.2

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

20.7/35Growth & earnings

Revenue 4.1% · PAT 100% · OPM change 31 pp

65% evidence

9.7/25Capital efficiency

ROCE 1.4% · debt/equity 0.11×

100% evidence

8.5/20Valuation

P/E 1279× · PEG —

15% evidence

6.3/20Relative strength

RS sector -15.2% · RS bench -4.8% · 1Y 27.4%

70% evidence

10. Gujarat Mineral Development Corporation Ltd · GMDCLTD

41.4/100 · Mixed-negative evidence · 96% evidence

Exact sum: 13.4 + 13.4 + 8 + 6.6 = 41.4

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

13.4/35Growth & earnings

Revenue -6.9% · PAT 39.5% · OPM change -12 pp

88% evidence

13.4/25Capital efficiency

ROCE 10.8% · debt/equity 0.04×

100% evidence

8.0/20Valuation

P/E 31.8× · PEG 1.28

100% evidence

6.6/20Relative strength

RS sector -7.4% · RS bench 1% · 1Y 33.6%

100% evidence

11. Orissa Minerals Development Company Ltd · ORISSAMINE

36.6/100 · Thin evidence · provisional · 59% evidence

Exact sum: 17.1 + 6 + 10 + 3.5 = 36.6

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

17.1/35Growth & earnings

Revenue 45.7% · PAT 92.8% · OPM change 511.5 pp

62% evidence

6.0/25Capital efficiency

ROCE 9.6% · debt/equity 83.25×

95% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

3.5/20Relative strength

RS sector -39.8% · RS bench -18.5% · 1Y -29.3%

70% evidence

12. MOIL Ltd · MOIL

33.1/100 · Adverse evidence · 77% evidence

Exact sum: 6.3 + 15.1 + 7.3 + 4.4 = 33.1

Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

6.3/35Growth & earnings

Revenue -20.4% · PAT -80% · OPM change -28.5 pp

83% evidence

15.1/25Capital efficiency

ROCE 11.4% · debt/equity 0×

95% evidence

7.3/20Valuation

P/E 52.6× · PEG —

50% evidence

4.4/20Relative strength

RS sector -29.2% · RS bench -17.8% · 1Y -29.4%

70% evidence

13. Bharat Coking Coal Ltd · BHARATCOAL

39.7/100 · Thin evidence · provisional · 36% evidence

Exact sum: 11.6 + 8.1 + 10 + 10 = 39.7

Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

11.6/35Growth & earnings

Revenue — · PAT — · OPM change -7 pp

45% evidence

8.1/25Capital efficiency

ROCE 4% · debt/equity 0.39×

80% evidence

10.0/20Valuation

P/E — · PEG —

0% evidence

10.0/20Relative strength

RS sector — · RS bench — · 1Y —

0% evidence

01 · compare level, then change

Revenue Scale & Growth Durability

Coal India Ltd has the highest Revenue among the 13 Mining/Minerals companies compared here, at ₹1,47,443 crore. Vedanta Ltd is next at ₹1,02,517 crore. Midwest Energy Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies. Its Revenue series carries 15 reported observations across the 20-quarter window.

What the numbers say: Coal India Ltd is the scale leader at ₹1,47,443 crore, 43.8% ahead of Vedanta Ltd. Midwest Energy Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 1865.9% from a ₹9 crore base, with 15 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

LeaderCoal India Ltd · ₹1,47,443 crore
Gap43.8% versus #2 · Vedanta Ltd
Persistence3/8 recent comparable periods
Coverage13/13 companies · 204 observations

Investor read: Coal India Ltd is the scale benchmark; Midwest Energy Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Coal India Ltd's growth falls below Midwest Energy Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1Coal India Ltd COALINDIA₹1.5 L Cr
2Vedanta Ltd VEDL₹1.0 L Cr
3Bharat Coking Coal Ltd BHARATCOAL₹12.9K Cr
4Ashapura Minechem Ltd ASHAPURMIN₹5.2K Cr
5Indian Metals & Ferro Alloys Ltd IMFA₹2.8K Cr
Revenue growthfastest growers
1Midwest Energy Ltd 526570100%
2Ashapura Minechem Ltd ASHAPURMIN91%
3Deccan Gold Mines Ltd DECNGOLD72%
4Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified46%
5South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified39%
Revenue · company comparison
13/13 level · 12/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyRevenueRevenue growthReported
Coal India Ltd COALINDIA₹46.5K Cr23%Mar 2026
Vedanta Ltd VEDL₹24.6K Cr47%Mar 2026
Bharat Coking Coal Ltd BHARATCOAL₹3.6K Cr-3.6%Jun 2026
Ashapura Minechem Ltd ASHAPURMIN₹2.0K Cr255%Mar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD₹814 Cr3.6%Mar 2026
Indian Metals & Ferro Alloys Ltd IMFA₹763 Cr35%Mar 2026
MOIL Ltd MOIL⚠ unverified₹444 Cr2.5%Mar 2026
20 Microns Ltd 20MICRONS⚠ unverified₹261 Cr15%Mar 2026
KIOCL Ltd KIOCL₹220 Cr-11%Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified₹62 Cr53%Jun 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified₹29 Cr332%Mar 2026
Deccan Gold Mines Ltd DECNGOLD₹9 Cr1,885%Mar 2026
Midwest Energy Ltd 526570₹6 Cr3,288%Mar 2026
Full 20-quarter history · every available company

Revenue · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

₹535 Cr
₹696 Cr
₹1.0K Cr
₹554 Cr
₹713 Cr
₹440 Cr
₹714 Cr
₹604 Cr
₹865 Cr
₹555 Cr
₹1.4K Cr
₹952 Cr
₹960 Cr
₹2.0K Cr

Bharat Coking Coal Ltd · BHARATCOAL

₹3.7K Cr
₹3.9K Cr
₹3.7K Cr
₹2.6K Cr
₹3.5K Cr
₹3.3K Cr
₹3.6K Cr

Coal India Ltd · COALINDIA

₹29.8K Cr
₹35.2K Cr
₹38.2K Cr
₹36.0K Cr
₹32.8K Cr
₹36.2K Cr
₹38.2K Cr
₹36.5K Cr
₹31.2K Cr
₹36.9K Cr
₹37.8K Cr
₹35.8K Cr
₹30.2K Cr
₹34.9K Cr
₹46.5K Cr

Deccan Gold Mines Ltd · DECNGOLD

₹0 Cr
₹0 Cr
₹1 Cr
₹0 Cr
₹0 Cr
₹3 Cr
₹3 Cr
₹4 Cr
₹1 Cr
₹0 Cr
₹0 Cr
₹3 Cr
₹1 Cr
₹9 Cr

Gujarat Mineral Development Corporation Ltd · GMDCLTD

₹452 Cr
₹725 Cr
₹1.1K Cr
₹1.2K Cr
₹539 Cr
₹855 Cr
₹948 Cr
₹766 Cr
₹383 Cr
₹564 Cr
₹750 Cr
₹818 Cr
₹593 Cr
₹653 Cr
₹786 Cr
₹733 Cr
₹528 Cr
₹579 Cr
₹814 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

₹653 Cr
₹655 Cr
₹757 Cr
₹743 Cr
₹672 Cr
₹624 Cr
₹637 Cr
₹702 Cr
₹693 Cr
₹685 Cr
₹701 Cr
₹662 Cr
₹692 Cr
₹643 Cr
₹567 Cr
₹642 Cr
₹719 Cr
₹703 Cr
₹763 Cr

KIOCL Ltd · KIOCL

₹463 Cr
₹364 Cr
₹1.1K Cr
₹366 Cr
₹154 Cr
₹288 Cr
₹735 Cr
₹501 Cr
₹431 Cr
₹549 Cr
₹372 Cr
₹147 Cr
₹16 Cr
₹181 Cr
₹246 Cr
₹91 Cr
₹143 Cr
₹160 Cr
₹220 Cr

Midwest Energy Ltd · 526570

₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹0 Cr
₹1 Cr
₹1 Cr
₹6 Cr

MOIL Ltd · MOIL⚠ unverified

₹312 Cr
₹363 Cr
₹468 Cr
₹376 Cr
₹236 Cr
₹302 Cr
₹428 Cr
₹380 Cr
₹348 Cr
₹306 Cr
₹416 Cr
₹493 Cr
₹292 Cr
₹367 Cr
₹433 Cr
₹348 Cr
₹348 Cr
₹360 Cr
₹444 Cr

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

₹8 Cr
₹7 Cr
₹3 Cr
₹17 Cr
₹28 Cr
₹34 Cr
₹14 Cr
₹23 Cr
₹21 Cr
₹7 Cr
₹19 Cr
₹25 Cr
₹21 Cr
₹29 Cr

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

₹25 Cr
₹35 Cr
₹38 Cr
₹23 Cr
₹23 Cr
₹42 Cr
₹45 Cr
₹29 Cr
₹27 Cr
₹49 Cr
₹74 Cr
₹40 Cr
₹62 Cr
₹63 Cr
₹78 Cr
₹62 Cr

Vedanta Ltd · VEDL

₹30.0K Cr
₹33.7K Cr
₹39.8K Cr
₹38.3K Cr
₹36.2K Cr
₹34.1K Cr
₹37.9K Cr
₹33.7K Cr
₹38.9K Cr
₹35.5K Cr
₹35.5K Cr
₹35.8K Cr
₹37.6K Cr
₹17.1K Cr
₹16.7K Cr
₹37.8K Cr
₹18.7K Cr
₹21.3K Cr
₹24.6K Cr

Revenue growth · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

33%
-37%
-30%
9.0%
21%
26%
90%
58%
11%
255%

Bharat Coking Coal Ltd · BHARATCOAL

-5.9%
-15%
-3.6%

Coal India Ltd · COALINDIA

9.9%
2.8%
0.2%
1.3%
-4.9%
2.0%
-1.0%
-1.7%
-3.2%
-5.3%
23%

Deccan Gold Mines Ltd · DECNGOLD

3,489%
405%
5,983%
245%
-85%
-88%
-16%
32%
1,885%

Gujarat Mineral Development Corporation Ltd · GMDCLTD

132%
19%
18%
-10%
-34%
-29%
-34%
-21%
6.8%
55%
16%
4.8%
-10%
-11%
-11%
3.6%

Indian Metals & Ferro Alloys Ltd · IMFA

38%
2.9%
-4.7%
-16%
-5.5%
3.1%
9.8%
10%
-5.7%
-0.1%
-6.1%
-19%
-3.0%
3.9%
9.3%
35%

KIOCL Ltd · KIOCL

-65%
-67%
-21%
-35%
37%
180%
91%
-49%
-71%
-96%
-67%
-34%
-38%
794%
-12%
-11%

Midwest Energy Ltd · 526570

-76%
-100%
248%
-100%
-86%
-77%
11,900%
362%
3,288%

MOIL Ltd · MOIL⚠ unverified

1.6%
35%
28%
-24%
-17%
-8.6%
1.1%
47%
1.3%
-2.8%
30%
-16%
20%
4.1%
-29%
19%
-1.9%
2.5%

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

258%
388%
308%
41%
-27%
-80%
40%
7.4%
-0.1%
332%

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

-6.4%
19%
18%
28%
18%
15%
64%
37%
128%
29%
5.2%
53%

Vedanta Ltd · VEDL

36%
21%
1.2%
-4.8%
-12%
7.5%
4.2%
-6.4%
6.0%
-3.4%
-52%
-53%
5.8%
-50%
25%
47%
02 · compare level, then change

Operating Economics & Margin Trend

Vedanta Ltd has the highest OPM among the 13 Mining/Minerals companies compared here, at 31%. Coal India Ltd is next at 27%. Deccan Gold Mines Ltd has the highest Margin change at +4492.4 percentage points, so level and change sit with different companies. 13 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Vedanta Ltd leads opm at 31%; Deccan Gold Mines Ltd leads margin change at +4492.4 percentage points.

LeaderVedanta Ltd · 31%
Gap14.8% versus #2 · Coal India Ltd
Persistence4/8 recent comparable periods
Coverage13/13 companies · 223 observations

Investor read: Vedanta Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Vedanta Ltd VEDL31%
2Coal India Ltd COALINDIA27%
3South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified24%
4Indian Metals & Ferro Alloys Ltd IMFA21%
5MOIL Ltd MOIL⚠ unverified21%
Margin changefastest expanders
1Deccan Gold Mines Ltd DECNGOLD+4,492.4 pp
2Midwest Energy Ltd 526570+1,202.9 pp
3Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified+511.5 pp
4KIOCL Ltd KIOCL+31.0 pp
5South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified+9.8 pp
Operating margin · company comparison
13/13 level · 13/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyOPMMargin changeReported
Vedanta Ltd VEDL31%0.0 ppMar 2026
Coal India Ltd COALINDIA27%−4.0 ppMar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified24%+9.8 ppJun 2026
Indian Metals & Ferro Alloys Ltd IMFA21%+9.0 ppMar 2026
MOIL Ltd MOIL⚠ unverified21%−28.5 ppMar 2026
KIOCL Ltd KIOCL14%+31.0 ppMar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD13%−12.0 ppMar 2026
20 Microns Ltd 20MICRONS⚠ unverified12%−1.0 ppMar 2026
Ashapura Minechem Ltd ASHAPURMIN6.0%−9.0 ppMar 2026
Bharat Coking Coal Ltd BHARATCOAL-2.0%−7.0 ppJun 2026
Deccan Gold Mines Ltd DECNGOLD-14%+4,492.5 ppMar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified-32%+511.5 ppMar 2026
Midwest Energy Ltd 526570-56%+1,202.9 ppMar 2026
Full 20-quarter history · every available company

OPM · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

11%
-12%
8.5%
13%
2.4%
11%
8.0%
11%
6.0%
8.0%
11%
12%
11%
16%
15%
13%
14%
12%
6.0%

Bharat Coking Coal Ltd · BHARATCOAL

16%
15%
2.0%
5.0%
-15%
1.0%
-10%
-2.0%

Coal India Ltd · COALINDIA

17%
24%
28%
35%
24%
30%
24%
38%
31%
36%
30%
39%
28%
33%
31%
35%
22%
27%
27%

Deccan Gold Mines Ltd · DECNGOLD

-175%
-922%
-48%
-138%
-120%
-573%
-303%
-716%
-14%

Gujarat Mineral Development Corporation Ltd · GMDCLTD

5.8%
28%
44%
38%
32%
39%
41%
32%
13%
21%
25%
26%
24%
14%
25%
23%
13%
17%
13%

Indian Metals & Ferro Alloys Ltd · IMFA

36%
32%
25%
29%
11%
9.0%
22%
25%
22%
23%
15%
24%
25%
20%
12%
20%
19%
23%
21%

KIOCL Ltd · KIOCL

-11%
-26%
21%
-15%
-74%
-15%
6.0%
-13%
-5.0%
7.0%
-7.0%
-33%
-417%
-24%
-17%
-46%
-15%
3.0%
14%

Midwest Energy Ltd · 526570

-300%
-800%
-9.3%
-155%
-157%
-63%
-571%
-571%
-49%
-49%
-208%
-555%
-170%
-168%
-56%

MOIL Ltd · MOIL⚠ unverified

18%
38%
40%
33%
2.6%
8.4%
45%
24%
18%
17%
43%
36%
14%
15%
49%
12%
17%
15%
21%

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

57%
37%
-21%
14%
-43%
-48%
-109%
-170%
18%
44%
39%
22%
29%
-9.8%
-544%
4.6%
29%
50%
-32%

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

20%
18%
26%
18%
16%
11%
20%
15%
17%
22%
17%
16%
13%
18%
21%
14%
23%
27%
26%
24%

Vedanta Ltd · VEDL

34%
32%
34%
26%
21%
21%
25%
19%
29%
24%
25%
28%
26%
29%
31%
26%
26%
31%
31%

Margin change · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

+9.1 pp
−23.1 pp
−6.4 pp
−3.0 pp
−8.2 pp
+23.4 pp
−0.5 pp
−1.7 pp
+3.6 pp
−3.0 pp
+3.0 pp
+1.0 pp
+5.0 pp
+8.0 pp
+4.0 pp
+1.0 pp
+3.0 pp
−4.0 pp
−9.0 pp

Bharat Coking Coal Ltd · BHARATCOAL

−31.5 pp
−14.0 pp
−12.0 pp
−7.0 pp

Coal India Ltd · COALINDIA

−1.9 pp
+2.2 pp
+3.7 pp
+15.7 pp
+7.1 pp
+6.0 pp
−3.8 pp
+3.2 pp
+7.0 pp
+6.0 pp
+6.0 pp
+1.0 pp
−3.0 pp
−3.0 pp
+1.0 pp
−4.0 pp
−6.0 pp
−6.0 pp
−4.0 pp

Deccan Gold Mines Ltd · DECNGOLD

−2,550.0 pp
+2,550.0 pp
+7,425.0 pp
+277.8 pp
+127.5 pp
−2,386.7 pp
+784.5 pp
−72.9 pp
+3,093.8 pp
−12.5 pp
−4,368.6 pp
−6,232.2 pp
+269.9 pp
+1,387.2 pp
+4,492.5 pp

Gujarat Mineral Development Corporation Ltd · GMDCLTD

+6.8 pp
+39.5 pp
+38.1 pp
+32.0 pp
+25.9 pp
+11.2 pp
−2.7 pp
−6.1 pp
−18.8 pp
−18.0 pp
−16.0 pp
−6.0 pp
+11.0 pp
−7.0 pp
0.0 pp
−3.0 pp
−11.0 pp
+3.0 pp
−12.0 pp

Indian Metals & Ferro Alloys Ltd · IMFA

+18.6 pp
+16.3 pp
+2.6 pp
−2.9 pp
−25.4 pp
−23.3 pp
−3.0 pp
−4.3 pp
+11.2 pp
+14.0 pp
−7.0 pp
−1.0 pp
+3.0 pp
−3.0 pp
−3.0 pp
−4.0 pp
−6.0 pp
+3.0 pp
+9.0 pp

KIOCL Ltd · KIOCL

−16.2 pp
−39.1 pp
−6.1 pp
−42.2 pp
−63.0 pp
+10.6 pp
−14.7 pp
+1.6 pp
+68.6 pp
+22.0 pp
−13.0 pp
−20.0 pp
−412.0 pp
−31.0 pp
−10.0 pp
−13.0 pp
+402.0 pp
+27.0 pp
+31.0 pp

Midwest Energy Ltd · 526570

−128.6 pp
−6,728.6 pp
+66.7 pp
+1,040.7 pp
−1,200.0 pp
+6,944.8 pp
+642.9 pp
−53.2 pp
+928.6 pp
−416.3 pp
+107.8 pp
+13.2 pp
−928.6 pp
+363.7 pp
−1,209.5 pp
−505.8 pp
+1,330.0 pp
+39.4 pp
+1,202.9 pp

MOIL Ltd · MOIL⚠ unverified

+16.0 pp
+9.5 pp
+12.1 pp
−15.4 pp
−29.1 pp
+4.3 pp
−8.8 pp
+15.0 pp
+8.9 pp
−1.3 pp
+12.2 pp
−3.4 pp
−1.9 pp
+5.6 pp
−24.1 pp
+2.9 pp
−0.7 pp
−28.5 pp

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

+200.6 pp
−100.6 pp
−85.7 pp
−87.9 pp
−184.0 pp
+61.6 pp
+92.4 pp
+148.5 pp
+192.3 pp
+10.6 pp
−53.8 pp
−583.2 pp
−17.7 pp
−0.0 pp
+60.1 pp
+511.5 pp

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

−8.6 pp
−7.3 pp
+12.1 pp
−0.2 pp
−4.0 pp
−6.7 pp
−6.1 pp
−2.8 pp
+0.9 pp
+10.9 pp
−2.7 pp
+0.6 pp
−4.1 pp
−4.2 pp
+3.5 pp
−1.2 pp
+10.5 pp
+9.2 pp
+5.4 pp
+9.8 pp

Vedanta Ltd · VEDL

+3.3 pp
−2.4 pp
+2.2 pp
−8.3 pp
−13.3 pp
−10.7 pp
−9.2 pp
−7.4 pp
+8.0 pp
+3.0 pp
0.0 pp
+9.0 pp
−3.0 pp
+5.0 pp
+6.0 pp
−2.0 pp
0.0 pp
+2.0 pp
0.0 pp
03 · compare level, then change

Profit Scale & Acceleration

Coal India Ltd has the highest Net profit among the 13 Mining/Minerals companies compared here, at ₹31,071 crore. Vedanta Ltd is next at ₹25,095 crore. South West Pinnacle Exploration Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Coal India Ltd leads with ₹31,071 crore of TTM profit, 23.8% above Vedanta Ltd. South West Pinnacle Exploration Ltd shows ≥100% on the scoring scale (135.8% uncapped) growth from a ₹40 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

LeaderCoal India Ltd · ₹31,071 crore
Gap23.8% versus #2 · Vedanta Ltd
Persistence3/8 recent comparable periods
Coverage13/13 companies · 204 observations

Investor read: Coal India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1Coal India Ltd COALINDIA₹31.1K Cr
2Vedanta Ltd VEDL₹25.1K Cr
3Gujarat Mineral Development Corporation Ltd GMDCLTD₹957 Cr
4Indian Metals & Ferro Alloys Ltd IMFA₹425 Cr
5Ashapura Minechem Ltd ASHAPURMIN₹417 Cr
Profit growthfastest growers
1South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified100%
2Ashapura Minechem Ltd ASHAPURMIN44%
3Gujarat Mineral Development Corporation Ltd GMDCLTD40%
4Vedanta Ltd VEDL22%
5Indian Metals & Ferro Alloys Ltd IMFA12%
Net profit · company comparison
13/13 level · 9/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyNet profitProfit growthReported
Coal India Ltd COALINDIA₹10.9K Cr14%Mar 2026
Vedanta Ltd VEDL₹9.4K Cr89%Mar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD₹194 Cr-14%Mar 2026
Ashapura Minechem Ltd ASHAPURMIN₹121 Cr53%Mar 2026
Indian Metals & Ferro Alloys Ltd IMFA₹103 Cr119%Mar 2026
MOIL Ltd MOIL⚠ unverified₹93 Cr-20%Mar 2026
KIOCL Ltd KIOCL₹53 Cr-223%Mar 2026
20 Microns Ltd 20MICRONS⚠ unverified₹18 Cr20%Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified₹9 Cr289%Jun 2026
Deccan Gold Mines Ltd DECNGOLD₹6 Cr-52%Mar 2026
Midwest Energy Ltd 526570₹-3 CrMar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified₹-8 Cr297%Mar 2026
Bharat Coking Coal Ltd BHARATCOAL₹-68 Cr-138%Jun 2026
Full 20-quarter history · every available company

Net profit · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

₹29 Cr
₹40 Cr
₹102 Cr
₹58 Cr
₹54 Cr
₹67 Cr
₹60 Cr
₹43 Cr
₹108 Cr
₹79 Cr
₹114 Cr
₹106 Cr
₹76 Cr
₹121 Cr

Bharat Coking Coal Ltd · BHARATCOAL

₹425 Cr
₹66 Cr
₹177 Cr
₹-53 Cr
₹-23 Cr
₹27 Cr
₹-68 Cr

Coal India Ltd · COALINDIA

₹6.0K Cr
₹7.7K Cr
₹6.9K Cr
₹10.5K Cr
₹8.0K Cr
₹10.3K Cr
₹8.5K Cr
₹10.9K Cr
₹6.3K Cr
₹8.5K Cr
₹9.6K Cr
₹8.7K Cr
₹4.3K Cr
₹7.2K Cr
₹10.9K Cr

Deccan Gold Mines Ltd · DECNGOLD

₹-1 Cr
₹-1 Cr
₹-0 Cr
₹-4 Cr
₹5 Cr
₹-68 Cr
₹38 Cr
₹-68 Cr
₹-25 Cr
₹12 Cr
₹-28 Cr
₹-20 Cr
₹-22 Cr
₹6 Cr

Gujarat Mineral Development Corporation Ltd · GMDCLTD

₹40 Cr
₹150 Cr
₹218 Cr
₹345 Cr
₹151 Cr
₹266 Cr
₹442 Cr
₹219 Cr
₹75 Cr
₹117 Cr
₹187 Cr
₹184 Cr
₹128 Cr
₹148 Cr
₹226 Cr
₹164 Cr
₹466 Cr
₹133 Cr
₹194 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

₹144 Cr
₹122 Cr
₹143 Cr
₹134 Cr
₹16 Cr
₹11 Cr
₹64 Cr
₹111 Cr
₹89 Cr
₹109 Cr
₹36 Cr
₹113 Cr
₹125 Cr
₹93 Cr
₹47 Cr
₹93 Cr
₹98 Cr
₹131 Cr
₹103 Cr

KIOCL Ltd · KIOCL

₹-30 Cr
₹-66 Cr
₹194 Cr
₹-44 Cr
₹-102 Cr
₹-34 Cr
₹82 Cr
₹-58 Cr
₹-21 Cr
₹39 Cr
₹-43 Cr
₹-51 Cr
₹-69 Cr
₹-48 Cr
₹-37 Cr
₹-38 Cr
₹-17 Cr
₹18 Cr
₹53 Cr

Midwest Energy Ltd · 526570

₹-5 Cr
₹-1 Cr
₹-4 Cr
₹-0 Cr
₹-1 Cr
₹-0 Cr
₹-1 Cr
₹-1 Cr
₹-0 Cr
₹-1 Cr
₹-2 Cr
₹-4 Cr
₹-4 Cr
₹-3 Cr
₹-3 Cr

MOIL Ltd · MOIL⚠ unverified

₹60 Cr
₹124 Cr
₹131 Cr
₹103 Cr
₹27 Cr
₹40 Cr
₹81 Cr
₹87 Cr
₹62 Cr
₹54 Cr
₹91 Cr
₹152 Cr
₹50 Cr
₹64 Cr
₹116 Cr
₹52 Cr
₹70 Cr
₹53 Cr
₹93 Cr

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

₹-9 Cr
₹0 Cr
₹-15 Cr
₹2 Cr
₹2 Cr
₹13 Cr
₹-2 Cr
₹1 Cr
₹-7 Cr
₹-32 Cr
₹-3 Cr
₹3 Cr
₹4 Cr
₹-8 Cr

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

₹2 Cr
₹1 Cr
₹4 Cr
₹0 Cr
₹1 Cr
₹4 Cr
₹3 Cr
₹2 Cr
₹0 Cr
₹4 Cr
₹10 Cr
₹2 Cr
₹8 Cr
₹9 Cr
₹13 Cr
₹9 Cr

Vedanta Ltd · VEDL

₹5.8K Cr
₹5.4K Cr
₹7.3K Cr
₹5.6K Cr
₹2.7K Cr
₹3.1K Cr
₹3.1K Cr
₹3.3K Cr
₹-915 Cr
₹2.9K Cr
₹2.3K Cr
₹5.1K Cr
₹5.6K Cr
₹4.9K Cr
₹5.0K Cr
₹4.5K Cr
₹3.5K Cr
₹7.8K Cr
₹9.4K Cr

Profit growth · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

71%
56%
20%
0.0%
8.3%
7.1%
-5.6%
6.3%
15%
20%

Ashapura Minechem Ltd · ASHAPURMIN

86%
68%
-41%
-26%
100%
18%
90%
147%
-30%
53%

Bharat Coking Coal Ltd · BHARATCOAL

-105%
-59%
-138%

Coal India Ltd · COALINDIA

33%
33%
24%
4.3%
-22%
-18%
12%
-20%
-32%
-16%
14%

Deccan Gold Mines Ltd · DECNGOLD

-577%
-174%
-52%

Gujarat Mineral Development Corporation Ltd · GMDCLTD

808%
278%
77%
103%
-37%
-50%
-56%
-58%
-16%
71%
27%
21%
-11%
264%
-10%
-14%

Indian Metals & Ferro Alloys Ltd · IMFA

35%
-89%
-91%
-55%
-17%
456%
891%
-44%
1.8%
40%
-15%
31%
-18%
-22%
41%
119%

KIOCL Ltd · KIOCL

-120%
-58%
-152%
-223%

MOIL Ltd · MOIL⚠ unverified

757%
143%
66%
-55%
-68%
-38%
-16%
130%
35%
12%
75%
-19%
19%
27%
-66%
40%
-17%
-20%

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

11,142%
-59%
-423%
-335%
297%

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

-57%
236%
-30%
419%
-56%
-1.0%
257%
28%
1,990%
122%
31%
289%

Vedanta Ltd · VEDL

5.9%
-54%
-42%
-57%
-41%
-134%
-7.2%
-27%
54%
70%
118%
-13%
-38%
60%
89%
04 · not available

Capacity Spending & Returns On It

No company in this Mining/Minerals comparison reports capital expenditure on a comparable basis, so there is nothing to rank here — 0 of 13 companies have a usable current reading. The section is shown rather than removed so an unavailable metric is not mistaken for one that was quietly left out. Filings were read through Jun 2026.

CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

Withheld from this comparison: Coal India Ltd (COALINDIA) — its two data sources disagree by up to 59% on reported income across 15 comparable periods, so its derived ratios are withheld; Bharat Coking Coal Ltd (BHARATCOAL) — its two data sources disagree by up to 216% on reported income across 5 comparable periods, so its derived ratios are withheld; Ashapura Minechem Ltd (ASHAPURMIN) — its two data sources disagree by up to 16% on reported income across 14 comparable periods, so its derived ratios are withheld; Deccan Gold Mines Ltd (DECNGOLD) — its two data sources disagree by up to 89% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

05 · compare level, then change

Debt Load & Balance-Sheet Headroom

MOIL Ltd has the lowest Gross debt among the 13 Mining/Minerals companies compared here, at ₹0 crore. Deccan Gold Mines Ltd is next at ₹51 crore. KIOCL Ltd has the lowest Net debt at ₹634 crore net cash, so level and change sit with different companies. 13 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: KIOCL Ltd has the clearest covered balance-sheet capacity with ₹634 crore net cash and gross debt of ₹192 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

LeaderMOIL Ltd · ₹0 crore
Gap100% versus #2 · Deccan Gold Mines Ltd
PersistenceNot enough history
Coverage13/13 companies · 159 observations

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1MOIL Ltd MOIL⚠ unverified₹0 Cr
2Deccan Gold Mines Ltd DECNGOLD₹51 Cr
3South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified₹80 Cr
420 Microns Ltd 20MICRONS⚠ unverified₹156 Cr
5KIOCL Ltd KIOCL₹192 Cr
Net debtlowest net debt
1KIOCL Ltd KIOCL₹-634 Cr
2Gujarat Mineral Development Corporation Ltd GMDCLTD₹-223 Cr
3Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified₹2 Cr
4South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified₹68 Cr
520 Microns Ltd 20MICRONS⚠ unverified₹82 Cr
Debt and balance-sheet capacity · company comparison
13/13 level · 7/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGross debtNet debtReported
Vedanta Ltd VEDL₹32.9K Cr₹17.1K CrMar 2026
Coal India Ltd COALINDIA₹14.1K CrMar 2026
Bharat Coking Coal Ltd BHARATCOAL₹2.2K CrJun 2026
Ashapura Minechem Ltd ASHAPURMIN₹1.4K CrMar 2026
Indian Metals & Ferro Alloys Ltd IMFA₹958 Cr₹543 CrMar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD₹317 Cr₹-223 CrMar 2026
Midwest Energy Ltd 526570₹302 CrMar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified₹212 Cr₹2 CrMar 2026
KIOCL Ltd KIOCL₹192 Cr₹-634 CrMar 2026
20 Microns Ltd 20MICRONS⚠ unverified₹156 Cr₹82 CrMar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified₹80 Cr₹68 CrJun 2026
Deccan Gold Mines Ltd DECNGOLD₹51 CrMar 2026
Full 20-quarter history · every available company

Gross debt · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

₹119 Cr
₹119 Cr
₹123 Cr
₹123 Cr
₹108 Cr
₹108 Cr
₹107 Cr
₹107 Cr
₹121 Cr
₹122 Cr
₹131 Cr
₹131 Cr
₹165 Cr
₹165 Cr
₹163 Cr
₹163 Cr
₹156 Cr

Ashapura Minechem Ltd · ASHAPURMIN

₹639 Cr
₹758 Cr
₹984 Cr
₹1.2K Cr
₹1.2K Cr
₹1.4K Cr

Bharat Coking Coal Ltd · BHARATCOAL

₹0 Cr
₹213 Cr
₹230 Cr
₹233 Cr
₹2.2K Cr

Coal India Ltd · COALINDIA

₹3.5K Cr
₹4.3K Cr
₹6.5K Cr
₹9.1K Cr
₹13.8K Cr
₹14.1K Cr

Deccan Gold Mines Ltd · DECNGOLD

₹0 Cr
₹3 Cr
₹100 Cr
₹148 Cr
₹228 Cr
₹51 Cr

Gujarat Mineral Development Corporation Ltd · GMDCLTD

₹0 Cr
₹0 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹1 Cr
₹2 Cr
₹0 Cr
₹1 Cr
₹1 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹3 Cr
₹126 Cr
₹126 Cr
₹278 Cr
₹278 Cr
₹317 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

₹656 Cr
₹656 Cr
₹490 Cr
₹490 Cr
₹441 Cr
₹441 Cr
₹341 Cr
₹341 Cr
₹373 Cr
₹373 Cr
₹237 Cr
₹184 Cr
₹296 Cr
₹296 Cr
₹389 Cr
₹389 Cr
₹435 Cr
₹435 Cr
₹958 Cr

KIOCL Ltd · KIOCL

₹113 Cr
₹113 Cr
₹126 Cr
₹126 Cr
₹127 Cr
₹127 Cr
₹537 Cr
₹537 Cr
₹177 Cr
₹177 Cr
₹180 Cr
₹180 Cr
₹218 Cr
₹218 Cr
₹193 Cr
₹193 Cr
₹185 Cr
₹185 Cr
₹192 Cr

Midwest Energy Ltd · 526570

₹22 Cr
₹25 Cr
₹27 Cr
₹106 Cr
₹152 Cr
₹302 Cr

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

₹321 Cr
₹321 Cr
₹348 Cr
₹333 Cr
₹271 Cr
₹271 Cr
₹182 Cr
₹182 Cr
₹97 Cr
₹97 Cr
₹9 Cr
₹9 Cr
₹9 Cr
₹9 Cr
₹186 Cr
₹186 Cr
₹145 Cr
₹8 Cr
₹212 Cr

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

₹50 Cr
₹50 Cr
₹51 Cr
₹51 Cr
₹65 Cr
₹65 Cr
₹95 Cr
₹95 Cr
₹93 Cr
₹93 Cr
₹84 Cr
₹84 Cr
₹65 Cr
₹65 Cr
₹94 Cr
₹94 Cr
₹80 Cr
₹80 Cr

Vedanta Ltd · VEDL

₹60.2K Cr
₹60.2K Cr
₹53.6K Cr
₹64.6K Cr
₹72.9K Cr
₹72.9K Cr
₹80.3K Cr
₹80.3K Cr
₹90.7K Cr
₹90.7K Cr
₹87.7K Cr
₹87.7K Cr
₹96.0K Cr
₹96.0K Cr
₹91.5K Cr
₹91.6K Cr
₹85.1K Cr
₹1.0 L Cr
₹32.9K Cr

Net debt · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

₹107 Cr
₹107 Cr
₹110 Cr
₹110 Cr
₹88 Cr
₹88 Cr
₹67 Cr
₹67 Cr
₹73 Cr
₹73 Cr
₹114 Cr
₹114 Cr
₹134 Cr
₹134 Cr
₹105 Cr
₹105 Cr
₹82 Cr

Gujarat Mineral Development Corporation Ltd · GMDCLTD

₹-84 Cr
₹-84 Cr
₹-65 Cr
₹-89 Cr
₹-130 Cr
₹-130 Cr
₹-71 Cr
₹-98 Cr
₹-532 Cr
₹-532 Cr
₹-70 Cr
₹-507 Cr
₹-620 Cr
₹-620 Cr
₹-11 Cr
₹-457 Cr
₹-317 Cr
₹-317 Cr
₹-223 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

₹406 Cr
₹406 Cr
₹328 Cr
₹328 Cr
₹221 Cr
₹221 Cr
₹63 Cr
₹63 Cr
₹-18 Cr
₹-18 Cr
₹-230 Cr
₹-266 Cr
₹-518 Cr
₹-518 Cr
₹-539 Cr
₹-539 Cr
₹-598 Cr
₹-598 Cr
₹543 Cr

KIOCL Ltd · KIOCL

₹-1.4K Cr
₹-1.4K Cr
₹-915 Cr
₹-982 Cr
₹-1.1K Cr
₹-1.1K Cr
₹-24 Cr
₹-236 Cr
₹-282 Cr
₹-282 Cr
₹-276 Cr
₹-277 Cr
₹-264 Cr
₹-264 Cr
₹-407 Cr
₹-537 Cr
₹-534 Cr
₹-534 Cr
₹-634 Cr

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

₹189 Cr
₹189 Cr
₹305 Cr
₹170 Cr
₹193 Cr
₹193 Cr
₹176 Cr
₹102 Cr
₹25 Cr
₹25 Cr
₹4 Cr
₹-16 Cr
₹-20 Cr
₹-20 Cr
₹121 Cr
₹123 Cr
₹2 Cr
₹2 Cr

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

₹43 Cr
₹43 Cr
₹48 Cr
₹48 Cr
₹65 Cr
₹65 Cr
₹85 Cr
₹85 Cr
₹92 Cr
₹84 Cr
₹72 Cr
₹72 Cr
₹46 Cr
₹24 Cr
₹68 Cr
₹68 Cr
₹68 Cr
₹68 Cr

Vedanta Ltd · VEDL

₹28.5K Cr
₹28.5K Cr
₹33.3K Cr
₹33.2K Cr
₹46.3K Cr
₹46.3K Cr
₹62.0K Cr
₹62.0K Cr
₹74.2K Cr
₹74.2K Cr
₹75.2K Cr
₹75.2K Cr
₹73.6K Cr
₹73.6K Cr
₹72.8K Cr
₹72.8K Cr
₹81.3K Cr
₹81.3K Cr
₹17.1K Cr
06 · compare level, then change

Return On Capital Employed

Coal India Ltd has the highest ROCE among the 13 Mining/Minerals companies compared here, at 35.3%. Ashapura Minechem Ltd is next at 20.7%. South West Pinnacle Exploration Ltd has the highest ROCE change at +11.6 percentage points, so level and change sit with different companies. 13 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Coal India Ltd leads ROCE at 35.3%, 14.6 percentage points above Ashapura Minechem Ltd. South West Pinnacle Exploration Ltd has the strongest latest improvement at +11.6 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

LeaderCoal India Ltd · 35.3%
Gap70.5% versus #2 · Ashapura Minechem Ltd
PersistenceNot enough history
Coverage13/13 companies · 114 observations

Investor read: Coal India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Coal India Ltd COALINDIA35%
2Ashapura Minechem Ltd ASHAPURMIN21%
3South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified20%
4Indian Metals & Ferro Alloys Ltd IMFA18%
520 Microns Ltd 20MICRONS⚠ unverified17%
ROCE changefastest improvers
1South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified+11.6 pp
2KIOCL Ltd KIOCL+9.1 pp
3Deccan Gold Mines Ltd DECNGOLD+8.0 pp
4Vedanta Ltd VEDL+2.7 pp
5Ashapura Minechem Ltd ASHAPURMIN+2.0 pp
Return on capital · company comparison
13/13 level · 13/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Coal India Ltd (COALINDIA) — its two data sources disagree by up to 59% on reported income across 15 comparable periods, so its derived ratios are withheld; Bharat Coking Coal Ltd (BHARATCOAL) — its two data sources disagree by up to 216% on reported income across 5 comparable periods, so its derived ratios are withheld; Ashapura Minechem Ltd (ASHAPURMIN) — its two data sources disagree by up to 16% on reported income across 14 comparable periods, so its derived ratios are withheld; Deccan Gold Mines Ltd (DECNGOLD) — its two data sources disagree by up to 89% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyROCEROCE changeReported
Vedanta Ltd VEDL29%+2.7 ppMar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified29%+11.6 ppJun 2026
20 Microns Ltd 20MICRONS⚠ unverified19%−1.1 ppMar 2026
Indian Metals & Ferro Alloys Ltd IMFA17%−2.6 ppMar 2026
MOIL Ltd MOIL⚠ unverified8.9%−8.7 ppMar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD4.0%−5.3 ppMar 2026
KIOCL Ltd KIOCL-3.0%+9.1 ppMar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified-27%−126.7 ppMar 2026
Full 20-quarter history · every available company

ROCE · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

23%
21%
21%
22%
25%
23%
26%
21%
25%
20%
23%
19%
21%
19%

Gujarat Mineral Development Corporation Ltd · GMDCLTD

-0.8%
12%
20%
20%
15%
19%
8.6%
12%
9.2%
13%
9.3%
12%
7.3%
18%
4.0%

Indian Metals & Ferro Alloys Ltd · IMFA

26%
35%
29%
20%
19%
26%
24%
27%
23%
25%
19%
22%
15%
21%
17%

KIOCL Ltd · KIOCL

23%
15%
-2.6%
-8.5%
-4.9%
1.5%
-4.7%
-1.8%
-6.7%
-8.2%
-12%
-8.6%
-9.9%
-3.3%
-3.0%

MOIL Ltd · MOIL⚠ unverified

11%
20%
20%
15%
15%
15%
17%
18%
13%
8.9%

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

-1.5%
6.7%
-13%
999%
120%
7.4%
-768%
74%
1,187%
100%
-22%
-30%
-32%
-27%

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

14%
15%
11%
13%
8.6%
14%
11%
15%
11%
14%
13%
17%
18%
27%
21%
29%

Vedanta Ltd · VEDL

22%
27%
27%
23%
21%
25%
22%
29%
22%
27%
27%
27%
18%
23%
29%

ROCE change · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

−0.3 pp
+1.9 pp
−0.5 pp
−0.5 pp
−2.8 pp
−3.6 pp
−1.9 pp
−3.5 pp
−1.1 pp

Gujarat Mineral Development Corporation Ltd · GMDCLTD

+20.8 pp
+8.1 pp
−5.2 pp
−11.0 pp
−5.6 pp
−6.2 pp
+0.7 pp
+0.9 pp
−1.9 pp
+5.3 pp
−5.3 pp

Indian Metals & Ferro Alloys Ltd · IMFA

+2.6 pp
−15.2 pp
−9.5 pp
+4.0 pp
+4.0 pp
−1.2 pp
−4.8 pp
−4.4 pp
−8.0 pp
−4.6 pp
−2.6 pp

KIOCL Ltd · KIOCL

−26.0 pp
−23.4 pp
−2.3 pp
+3.8 pp
−1.8 pp
−9.7 pp
−7.4 pp
−6.8 pp
−3.2 pp
+4.9 pp
+9.1 pp

MOIL Ltd · MOIL⚠ unverified

+9.5 pp
−5.1 pp
−4.9 pp
+0.3 pp
+1.7 pp
+2.4 pp
−3.8 pp
−8.7 pp

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

−11.7 pp
+992.6 pp
+132.9 pp
−1,767.2 pp
+1,066.9 pp
+92.5 pp
+746.1 pp
−104.2 pp
−1,218.9 pp
−126.7 pp

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

−3.7 pp
+0.1 pp
+2.0 pp
+2.4 pp
−0.3 pp
+2.3 pp
+2.4 pp
+6.6 pp
+12.5 pp
+7.5 pp
+11.6 pp

Vedanta Ltd · VEDL

+4.4 pp
−4.6 pp
−5.4 pp
−0.4 pp
+1.2 pp
+2.5 pp
+4.4 pp
−2.2 pp
−4.5 pp
−3.9 pp
+2.7 pp
07 · compare level, then change

Valuation Against Growth & Quality

Vedanta Ltd has the lowest Guarded PEG among the 13 Mining/Minerals companies compared here, at 0.12×. Indian Metals & Ferro Alloys Ltd is next at 1.08×. The same company also holds the lowest P/E, at 5.97×. 3 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Vedanta Ltd has the lowest comparable Guarded PEG at 0.12×, 88.9% below Indian Metals & Ferro Alloys Ltd. Only 3 of 13 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderVedanta Ltd · 0.12×
Gap88.9% versus #2 · Indian Metals & Ferro Alloys Ltd
Persistence0/8 recent comparable periods
Coverage3/13 companies · 16 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Vedanta Ltd VEDL0.1
2Indian Metals & Ferro Alloys Ltd IMFA1.1
3Gujarat Mineral Development Corporation Ltd GMDCLTD1.3
P/Elowest P/E
1Vedanta Ltd VEDL6.0
2Coal India Ltd COALINDIA8.5
320 Microns Ltd 20MICRONS⚠ unverified10.9
4Ashapura Minechem Ltd ASHAPURMIN16.4
5Indian Metals & Ferro Alloys Ltd IMFA17.0
Valuation · company comparison
3/13 level · 9/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

Withheld from this chart: Deccan Gold Mines Ltd (DECNGOLD) — its two data sources disagree by up to 89% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyGuarded PEGP/EReported
Gujarat Mineral Development Corporation Ltd GMDCLTD1.328.8Mar 2026
Indian Metals & Ferro Alloys Ltd IMFA1.118.0Mar 2026
Vedanta Ltd VEDL0.19.9Mar 2026
Coal India Ltd COALINDIA9.2Mar 2026
KIOCL Ltd KIOCL1,162.3Mar 2026
Bharat Coking Coal Ltd BHARATCOAL140.5Jun 2026
Ashapura Minechem Ltd ASHAPURMIN12.2Mar 2026
MOIL Ltd MOIL⚠ unverified62.9Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified987.6Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified20.2Jun 2026
20 Microns Ltd 20MICRONS⚠ unverified7.7Mar 2026
Full 20-quarter history · every available company

Guarded PEG · reported quarter history

Gujarat Mineral Development Corporation Ltd · GMDCLTD

0.2
0.4
0.2
0.8
0.6
1.3

Indian Metals & Ferro Alloys Ltd · IMFA

0.2
0.4
0.2
0.3
1.1

Vedanta Ltd · VEDL

0.1
0.1
0.0
0.1
0.1

P/E · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

7.5
8.6
8.7
6.9
8.2
6.8
6.1
8.0
10.8
12.8
9.6
13.6
17.4
13.7
10.9
12.8
12.5
12.1
7.7

Ashapura Minechem Ltd · ASHAPURMIN

9.3
5.5
10.1
9.7
12.6
24.0
11.5
9.9
14.6
16.9
15.3
18.1
17.3
23.1
14.7
13.8
18.1
21.5
12.2

Bharat Coking Coal Ltd · BHARATCOAL

0.1
140.5

Coal India Ltd · COALINDIA

7.4
6.5
7.5
6.3
5.7
5.3
4.5
4.8
5.8
7.0
7.5
7.8
8.4
6.5
7.2
6.9
7.2
7.9
9.2

Gujarat Mineral Development Corporation Ltd · GMDCLTD

8.4
8.2
13.7
9.5
5.7
5.4
4.1
4.4
9.3
12.9
12.8
20.9
20.3
16.9
13.0
19.1
28.1
28.6
28.8

Indian Metals & Ferro Alloys Ltd · IMFA

7.9
7.2
5.4
2.7
2.4
3.4
5.1
7.5
11.0
9.7
9.2
11.7
10.5
11.9
9.0
11.0
16.9
23.2
18.0

KIOCL Ltd · KIOCL

29.2
35.3
43.1
37.3
214.3
204.8
732.8
820.6
535.1
563.6
661.6
-331.2
1,162.3

MOIL Ltd · MOIL⚠ unverified

36.7
38.6
40.7
32.7
34.1
36.8
32.5
37.1
50.7
70.5
63.6
112.9
91.3
75.0
73.7
87.9
80.9
83.3
62.9

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

-248.8
1,261.8
1,183.3
-86.2
-147.1
-403.7
1,258.6
334.4
298.1
635.9
630.8
880.6
987.6

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

26.5
45.8
62.8
51.3
37.5
29.1
32.4
47.2
49.9
75.7
31.6
40.3
36.5
46.0
31.5
27.2
22.6
23.4
20.6
20.2

Vedanta Ltd · VEDL

2.5
2.4
2.7
1.6
1.9
2.5
2.6
3.5
4.0
8.5
8.9
16.6
12.8
6.0
6.5
4.3
6.5
10.8
9.9
08 · compare level, then change

Enterprise Value & Book Value

20 Microns Ltd has the lowest EV/EBITDA among the 13 Mining/Minerals companies compared here, at 4.8×. Coal India Ltd is next at 5×. The same company also holds the lowest P/BV, at 1.49×. 10 of 13 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 19 reported observations across the 20-quarter window.

What the numbers say: 20 Microns Ltd leads both ev/ebitda at 4.8× and p/bv at 1.49×.

Leader20 Microns Ltd · 4.8×
Gap4% versus #2 · Coal India Ltd
Persistence0/8 recent comparable periods
Coverage10/13 companies · 177 observations

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
120 Microns Ltd 20MICRONS⚠ unverified4.8
2Coal India Ltd COALINDIA5.0
3Vedanta Ltd VEDL5.8
4Ashapura Minechem Ltd ASHAPURMIN8.9
5South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified11.6
P/BVlowest P/BV
120 Microns Ltd 20MICRONS⚠ unverified1.5
2Vedanta Ltd VEDL2.1
3Coal India Ltd COALINDIA2.2
4MOIL Ltd MOIL⚠ unverified2.4
5Gujarat Mineral Development Corporation Ltd GMDCLTD2.5
Enterprise and book valuation · company comparison
10/13 level · 12/13 change

Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.

All-company data · latest reported quarter

Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

CompanyEV/EBITDAP/BVReported
KIOCL Ltd KIOCL410.212.0Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified93.7-38.7Mar 2026
Bharat Coking Coal Ltd BHARATCOAL22.23.2Jun 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD19.22.7Mar 2026
MOIL Ltd MOIL⚠ unverified16.22.4Mar 2026
Indian Metals & Ferro Alloys Ltd IMFA12.32.6Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified11.63.3Jun 2026
Ashapura Minechem Ltd ASHAPURMIN8.93.3Mar 2026
Vedanta Ltd VEDL5.82.3Mar 2026
Coal India Ltd COALINDIA5.02.6Mar 2026
20 Microns Ltd 20MICRONS⚠ unverified4.81.1Mar 2026
Midwest Energy Ltd 52657075.4Mar 2026
Deccan Gold Mines Ltd DECNGOLD8.6Mar 2026
Full 20-quarter history · every available company

EV/EBITDA · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

4.2
4.3
5.0
4.1
4.9
4.5
4.1
5.0
6.1
7.0
5.6
7.7
9.7
8.2
6.6
7.2
7.5
7.1
4.8

Ashapura Minechem Ltd · ASHAPURMIN

7.4
5.1
6.9
7.7
8.3
10.1
7.5
6.8
10.0
12.8
12.1
14.3
14.6
16.9
12.0
10.7
12.9
14.9
8.9

Bharat Coking Coal Ltd · BHARATCOAL

5.5
22.2

Coal India Ltd · COALINDIA

3.8
3.1
3.9
3.4
2.6
2.6
2.3
2.5
3.1
4.0
4.4
4.5
5.1
3.8
4.0
3.9
3.9
4.3
5.0

Gujarat Mineral Development Corporation Ltd · GMDCLTD

11.7
10.6
13.1
4.5
3.2
3.1
2.5
3.0
6.4
8.5
8.3
14.1
13.0
10.7
8.3
12.7
18.9
19.5
19.2

Indian Metals & Ferro Alloys Ltd · IMFA

5.2
4.8
3.8
2.4
2.0
2.6
3.6
4.0
5.5
5.4
5.7
6.9
6.1
7.5
5.7
7.2
11.3
15.1
12.3

KIOCL Ltd · KIOCL

18.4
22.3
25.9
22.9
92.6
261.1
90.8
410.2

MOIL Ltd · MOIL⚠ unverified

8.8
9.6
8.1
5.1
5.6
6.6
5.0
6.7
11.7
19.0
16.5
34.5
26.6
20.6
20.2
25.4
22.8
23.7
16.2

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

170.3
65.0
51.8
42.9
98.0
459.2
635.5
478.9
585.3
139.9
106.1
112.6
111.8
93.7

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

12.1
17.5
24.2
22.0
17.4
14.1
13.6
18.8
18.4
25.0
13.7
13.8
14.0
15.7
12.2
13.7
12.0
12.9
11.7
11.6

Vedanta Ltd · VEDL

2.2
2.1
2.2
1.5
1.8
2.0
1.8
2.9
3.0
2.9
2.8
3.8
3.7
3.3
3.7
7.4
4.5
5.9
5.8

P/BV · reported quarter history

Showing the 12 largest of 13 companies with a series here. The remaining 1 are complete in the plain-text rendition and the trace payload — nothing is dropped from the data, only from this grid.

Ashapura Minechem Ltd · ASHAPURMIN

2.4
1.7
2.1
1.9
1.4
1.5
2.0
2.2
4.0
4.7
4.2
5.6
3.0
3.5
3.2
4.2
5.0
6.0
3.3

Bharat Coking Coal Ltd · BHARATCOAL

3.2

Coal India Ltd · COALINDIA

2.8
2.2
2.8
3.0
2.3
2.5
3.0
3.3
3.0
3.3
3.8
4.8
3.8
2.4
2.5
2.9
2.4
2.4
2.6

Deccan Gold Mines Ltd · DECNGOLD

4.5
6.4
8.9
5.4
6.6
10.3
10.8
14.6
8.9
7.8
6.1
10.6
11.5
9.4
7.9
12.0
11.0
10.2
8.6

Gujarat Mineral Development Corporation Ltd · GMDCLTD

0.5
0.6
1.4
1.0
0.8
0.9
0.8
1.1
1.7
2.2
1.9
2.2
1.9
1.7
1.4
2.1
2.9
2.8
2.7

Indian Metals & Ferro Alloys Ltd · IMFA

1.5
1.7
1.6
1.1
0.7
0.8
0.9
0.9
1.2
1.3
1.7
2.1
1.7
2.0
1.4
2.0
2.6
3.1
2.6

KIOCL Ltd · KIOCL

7.4
7.6
6.5
5.9
5.9
7.1
4.8
5.4
9.2
11.6
12.3
13.6
12.2
12.0
8.0
9.5
15.6
14.4
12.0

Midwest Energy Ltd · 526570

65.3
75.4

MOIL Ltd · MOIL⚠ unverified

1.4
1.5
1.6
1.3
1.3
1.4
1.2
1.4
1.9
2.7
2.4
4.3
3.5
2.9
2.8
3.4
3.1
3.2
2.4

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

30.1
78.3
93.2
79.5
-406.9
-412.8
402.9
577.8
656.2
-165.1
-137.6
-333.1
-408.8
-359.8
-249.0
-276.6
-269.1
-60.1
-38.7

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

3.2
4.1
5.6
6.0
3.9
3.0
3.0
4.0
3.3
4.1
2.5
2.9
2.9
3.5
2.4
3.5
3.0
3.2
3.4
3.3

Vedanta Ltd · VEDL

0.6
0.7
0.8
0.5
0.7
0.8
0.6
0.9
0.8
1.1
1.2
2.0
2.2
1.7
1.8
1.6
1.5
2.1
2.3
09 · let price answer last

Market action

Midwest Energy Ltd has the strongest one-year price move in Mining/Minerals at +218.8%. Deccan Gold Mines Ltd leads on Mansfield relative strength against NIFTY at +48.8%. 9 of 12 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength

Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.

Before the conclusion · check the blind spots

What can make this comparison misleading?

This Mining/Minerals comparison names 7 specific ways its own evidence can mislead, all listed below. All 13 companies here report on comparable dates, so no rank carries a stale marker. 4 draw at least one figure from a second feed with too little overlap to cross-check. 4 have second-feed figures withheld because the two sources disagree.

Keep these limits visible

  • A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
  • A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
  • The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
  • An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
  • 4 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
  • 4 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
  • Thin comparisons: Capital expenditure have fewer than three usable current readings.
10 · the complete set

Which companies are included?

All 13 companies in the canonical Mining/Minerals membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

CompanyMarket valuePricePriced toLatest fundamentalsSource standing
Coal India Ltd COALINDIA19/26 WEEKS₹2.6 L Cr₹4272026-07-19Mar 2026Second feed withheld
Vedanta Ltd VEDL₹1.0 L Cr₹2652026-07-19Mar 2026Cross-checked
KIOCL Ltd KIOCL₹21.2K Cr₹3492026-07-19Mar 2026Cross-checked
Gujarat Mineral Development Corporation Ltd GMDCLTD19/26 WEEKS₹17.9K Cr₹5632026-07-19Mar 2026Cross-checked
Bharat Coking Coal Ltd BHARATCOAL₹16.3K Cr₹35.02026-07-19Jun 2026Second feed withheld
Indian Metals & Ferro Alloys Ltd IMFA₹7.2K Cr₹1,3402026-07-19Mar 2026Cross-checked
Ashapura Minechem Ltd ASHAPURMINAHEAD₹6.7K Cr₹6972026-07-19Mar 2026Second feed withheld
MOIL Ltd MOIL⚠ unverified₹5.5K Cr₹2692026-07-19Mar 2026Includes unverified figures
Midwest Energy Ltd 526570₹4.9K Cr₹3,7572026-07-19Mar 2026Primary source only
Deccan Gold Mines Ltd DECNGOLD₹3.9K Cr₹1952026-07-19Mar 2026Second feed withheld
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified₹2.2K Cr₹3,7472026-07-19Mar 2026Includes unverified figures
South West Pinnacle Exploration Ltd SOUTHWEST20/26 WEEKS⚠ unverified₹763 Cr₹2342026-07-19Jun 2026Includes unverified figures
20 Microns Ltd 20MICRONSAHEAD⚠ unverified₹721 Cr₹2042026-07-19Mar 2026Includes unverified figures
How each company's sources stand: 4 of 13 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 4 of 13 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Coal India Ltd (COALINDIA) — its two data sources disagree by up to 59% on reported income across 15 comparable periods, so its derived ratios are withheld; Bharat Coking Coal Ltd (BHARATCOAL) — its two data sources disagree by up to 216% on reported income across 5 comparable periods, so its derived ratios are withheld; Ashapura Minechem Ltd (ASHAPURMIN) — its two data sources disagree by up to 16% on reported income across 14 comparable periods, so its derived ratios are withheld; Deccan Gold Mines Ltd (DECNGOLD) — its two data sources disagree by up to 89% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness

How was this comparison built?

This comparison is built from the reported filings of 13 Mining/Minerals companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Jun 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

FundamentalsThrough Jun 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing4 cross-checked · 5 unverified · 4 withheld, of 13 graded companies.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Questions investors ask · short, speakable answers

Mining/Minerals company comparison FAQs

These 18 answers restate the Mining/Minerals comparison above in question form. Every one is computed from the same 13 companies and the same reported filings as the rankings and charts, current through Jun 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.

What is the Nifty Mining/Minerals index?

The Nifty Mining/Minerals index tracks India's listed Mining/Minerals companies as a single basket. This page follows the same 13 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Mining/Minerals sector rather than to its largest constituent. Figures are as of Jun 2026.

Which are the best Mining/Minerals stocks in India?

Ranked by this page's four-factor score, South West Pinnacle Exploration Ltd places first among 13 listed Mining/Minerals companies, followed by Vedanta Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

How many Mining/Minerals stocks are listed in India?

This comparison covers 13 listed Mining/Minerals companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

Which Mining/Minerals company is the biggest?

Coal India Ltd is the largest, with trailing-twelve-month revenue of ₹1,47,443 crore, ahead of Vedanta Ltd at ₹1,02,517 crore. That covers 13 of 13 companies with comparable reporting through Mar 2026.

Which Mining/Minerals company is growing fastest?

Midwest Energy Ltd has the fastest revenue growth at 100% year on year, across 12 of 13 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

Which Mining/Minerals company has the best profit margins?

Vedanta Ltd has the highest operating margin at 31%, from 13 of 13 comparable companies. Deccan Gold Mines Ltd shows the biggest recent improvement, at +4492.4 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

Which Mining/Minerals company makes the most profit?

Coal India Ltd earns the most, at ₹31,071 crore of trailing-twelve-month net profit, from 13 of 13 comparable companies. South West Pinnacle Exploration Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

Which Mining/Minerals company earns the highest return on capital?

Coal India Ltd leads on return on capital employed at 35.3%, across 13 of 13 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

Which Mining/Minerals stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Vedanta Ltd screens cheapest at 0.12×. Only 3 of 13 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

Which Mining/Minerals company has the strongest balance sheet?

MOIL Ltd carries the lowest comparable gross debt at ₹0 crore, from 13 of 13 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

Which Mining/Minerals stock has the strongest price momentum?

Deccan Gold Mines Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

Which Mining/Minerals company scores highest for research priority?

South West Pinnacle Exploration Ltd scores 77.1 out of 100 with 87% evidence confidence, from 30.6 points on growth and earnings, 17.5 on capital efficiency, 12.2 on valuation and 16.8 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

How many Mining/Minerals companies does this comparison cover, and over what period?

It compares 13 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

What is the total market cap of the Mining/Minerals sector?

The 13 Mining/Minerals companies on this page carry ₹4,54,093 crore of combined market value. Coal India Ltd is the largest at ₹2,63,395 crore, about 58% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

What is the Mining/Minerals sector's P/E ratio?

The median price-to-earnings ratio across the 13 Mining/Minerals companies on this page is 17×, measured on the 9 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

How is the Mining/Minerals sector performing?

9 of the 12 covered Mining/Minerals companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

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