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.

01 · the index people search for

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.

02 · the sector itself · before any single company

How has Mining/Minerals moved against NIFTY 500?

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the most recent two of them this sector is 74% ahead of NIFTY 500. Earnings across its companies grew 15% on average over the last four reported quarters.

FADING · −4 in 4w✓Price and the fundamentals both up3 of 13 companies ahead of NIFTY 500 by 5% or more over three months

RS — · 6/12 >200d (−3) · 3/13 lead (−4) · EPS 8/11↑

Mining/Minerals, equal-weighted, based at 200 NIFTY 500, same base, same start trailing 12-month earnings per share rising falling

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 13 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.

03 · sector relative strength, before individual stocks

Is Mining/Minerals outperforming NIFTY 500?

Mining/Minerals has outperformed NIFTY 500 by 38.2% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 1.3%. 6 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.

-1.3%Sector vs NIFTY 500 · 13 weeks

+38.2%Sector vs NIFTY 500 · 52 weeks

6/12Stocks leading NIFTY 500

4/12Stocks 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

Mining/Minerals has outperformed NIFTY 500 by 38.2% over 52 weeks and 1.3% over 13 weeks. 6 of 12 covered companies beat NIFTY on Mansfield relative strength, while 4 of 12 beat the sector itself. Coal India Ltd leads with revenue of ₹1,57,856 crore, based on 13 of 13 comparable companies through Jun 2026.

Companies

complete canonical membership

Combined market value

₹4.5 L Cr

Coal India Ltd

Revenue growing

11/12

positive TTM year-on-year growth

Beating NIFTY 500

6/12

positive Mansfield relative strength

Comparing 5 of 13

04 · 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.

How this score is built, and what the marks mean

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

Company	Score	Price stage	Growth & earnings/35	Capital efficiency/25	Valuation/20	Relative strength/20
1South West Pinnacle Exploration LtdSOUTHWEST	79.6/100Favorable setup87% evidence	ASLEEP	30.6/35 Revenue 39.2% · PAT 100% · OPM change 9.8 pp 95% evidence	19.3/25 ROCE 20% · OPM 24.2% 95% evidence	12.2/20 P/E 19.5× · PEG — 50% evidence	17.5/20 RS sector 12.3% · RS bench 20.7% · 1Y 67.7%6 of 12 weeks ahead 100% evidence
Exact sum: 30.6 + 19.3 + 12.2 + 17.5 = 79.6 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Vedanta LtdVEDL	60.9/100Mixed-positive evidence82% evidence	FADING	21.2/35 Revenue 2% · PAT 43.5% · OPM change 8 pp 95% evidence	15.6/25 ROCE 16.1% · OPM 35% 76% evidence	10.3/20 P/E 9.4× · PEG — 50% evidence	13.8/20 RS sector 4.5% · RS bench 11.9% · 1Y 64.7%8 of 12 weeks ahead 100% evidence
Exact sum: 21.2 + 15.6 + 10.3 + 13.8 = 60.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Ashapura Minechem LtdASHAPURMIN	60.4/100Mixed-positive evidence72% evidence	TURNING	22.8/35 Revenue 91.3% · PAT 43.8% · OPM change -9 pp 83% evidence	17.5/25 ROCE 20.7% · OPM 6% 76% evidence	11.1/20 P/E 16.6× · PEG — 50% evidence	9.0/20 RS sector -20.6% · RS bench 7.2% · 1Y 28.4%10 of 10 weeks ahead 70% evidence
Exact sum: 22.8 + 17.5 + 11.1 + 9 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4Indian Metals & Ferro Alloys LtdIMFA	57.5/100Mixed-positive evidence96% evidence	ASLEEP	18.1/35 Revenue 10.3% · PAT 12.4% · OPM change 9 pp 88% evidence	16.1/25 ROCE 18.4% · OPM 21% 100% evidence	10.9/20 P/E 18.4× · PEG 1.08 100% evidence	12.4/20 RS sector 3.8% · RS bench 12.2% · 1Y 95.7%6 of 12 weeks ahead 100% evidence
Exact sum: 18.1 + 16.1 + 10.9 + 12.4 = 57.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5Midwest Energy Ltd526570	50.4/100Thin evidence · provisional55% evidence	ASLEEP	21.9/35 Revenue 100% · PAT -80% · OPM change 1202.9 pp 62% evidence	3.6/25 ROCE -2.5% · OPM -55.9% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	14.9/20 RS sector 97.8% · RS bench 1.5% · 1Y 192.3%1 of 10 weeks ahead 70% evidence
Exact sum: 21.9 + 3.6 + 10 + 14.9 = 50.4 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
6Coal India LtdCOALINDIA	50.3/100Mixed-positive evidence82% evidence	ASLEEP	9.3/35 Revenue 6.1% · PAT -5.9% · OPM change -3 pp 95% evidence	21.2/25 ROCE 35.3% · OPM 26% 76% evidence	11.6/20 P/E 8.2× · PEG — 50% evidence	8.2/20 RS sector -10.7% · RS bench -2.7% · 1Y 8.8%3 of 12 weeks ahead 100% evidence
Exact sum: 9.3 + 21.2 + 11.6 + 8.2 = 50.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
720 Microns Ltd20MICRONS	49.1/100Mixed-negative evidence81% evidence	TURNING	14.3/35 Revenue 2.5% · PAT 11.5% · OPM change 0 pp 95% evidence	17.6/25 ROCE 17.3% · OPM 13% 95% evidence	12.2/20 P/E 10× · PEG — 50% evidence	5.0/20 RS sector -40.9% · RS bench -2.1% · 1Y -28.3%7 of 10 weeks ahead 70% evidence
Exact sum: 14.3 + 17.6 + 12.2 + 5 = 49.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
8Deccan Gold Mines LtdDECNGOLD	44.9/100Mixed-negative evidence62% evidence	TURNING	21.5/35 Revenue 71.5% · PAT -50.8% · OPM change 4492.4 pp 83% evidence	3.8/25 ROCE -13.1% · OPM -13.9% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	9.6/20 RS sector -23% · RS bench 48.9% · 1Y 50.5%7 of 8 weeks ahead 70% evidence
Exact sum: 21.5 + 3.8 + 10 + 9.6 = 44.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
9KIOCL LtdKIOCL	41.7/100Mixed-negative evidence65% evidence	ASLEEP	20.7/35 Revenue 4.1% · PAT 100% · OPM change 31 pp 65% evidence	6.3/25 ROCE 1.4% · OPM 14% 100% evidence	8.5/20 P/E 1341× · PEG — 15% evidence	6.2/20 RS sector -15.2% · RS bench -6.5% · 1Y 7.4%7 of 10 weeks ahead 70% evidence
Exact sum: 20.7 + 6.3 + 8.5 + 6.2 = 41.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10Orissa Minerals Development Company LtdORISSAMINE	38.9/100Thin evidence · provisional59% evidence	ASLEEP	17.1/35 Revenue 45.7% · PAT 92.8% · OPM change 511.5 pp 62% evidence	8.0/25 ROCE 9.6% · OPM -32.2% 95% evidence	10.0/20 P/E — · PEG — 0% evidence	3.8/20 RS sector -39.8% · RS bench -11.8% · 1Y -19.5%1 of 10 weeks ahead 70% evidence
Exact sum: 17.1 + 8 + 10 + 3.8 = 38.9 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
11Gujarat Mineral Development Corporation LtdGMDCLTD	38.1/100Mixed-negative evidence100% evidence	ASLEEP	14.6/35 Revenue 2.3% · PAT 43.5% · OPM change -2 pp 100% evidence	11.2/25 ROCE 10.8% · OPM 21% 100% evidence	8.0/20 P/E 31.5× · PEG 1.28 100% evidence	4.3/20 RS sector -11% · RS bench -3.5% · 1Y 29.9%5 of 12 weeks ahead 100% evidence
Exact sum: 14.6 + 11.2 + 8 + 4.3 = 38.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12MOIL LtdMOIL	29.5/100Adverse evidence77% evidence	ASLEEP	6.3/35 Revenue -20.4% · PAT -80% · OPM change -28.5 pp 83% evidence	11.8/25 ROCE 11.4% · OPM 20.5% 95% evidence	7.3/20 P/E 55× · PEG — 50% evidence	4.1/20 RS sector -29.2% · RS bench -13.9% · 1Y -25.2%0 of 10 weeks ahead 70% evidence
Exact sum: 6.3 + 11.8 + 7.3 + 4.1 = 29.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
13Bharat Coking Coal LtdBHARATCOAL	37.8/100Thin evidence · provisional35% evidence	FADING	11.3/35 Revenue — · PAT — · OPM change -6.8 pp 45% evidence	6.5/25 ROCE 4% · OPM -1.8% 76% evidence	10.0/20 P/E — · PEG — 0% evidence	10.0/20 RS sector — · RS bench — · 1Y —8 of 12 weeks ahead 0% evidence
Exact sum: 11.3 + 6.5 + 10 + 10 = 37.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

Showing 10 of 13 companies

05 · what price has already done

Market action

Midwest Energy Ltd has the strongest one-year price move in Mining/Minerals at +192.3%. Deccan Gold Mines Ltd leads on Mansfield relative strength against NIFTY at +48.9%. 6 of 12 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-31.

Price and relative strength

Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts — the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

06 · compare level, then change

Revenue Scale & Growth Durability

Coal India Ltd has the highest Revenue among the 13 Mining/Minerals companies compared here, at ₹1,57,856 crore. Vedanta Ltd is next at ₹88,898 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 16 reported observations across the 20-quarter window.

What the numbers say: Coal India Ltd is the scale leader at ₹1,57,856 crore, 77.6% 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 · ₹1,57,856 crore

Gap77.6% versus #2 · Vedanta Ltd

Persistence4/8 recent comparable periods

Coverage13/13 companies · 203 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₹1.6 L Cr

2Vedanta Ltd VEDL₹88.9K Cr

3Bharat Coking Coal Ltd BHARATCOAL₹12.9K Cr

4Ashapura Minechem Ltd ASHAPURMIN₹5.2K Cr

5Gujarat Mineral Development Corporation Ltd GMDCLTD₹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

On every company-comparison chart on this page: solid lines show level, dotted lines show change when “Both” is selected, and a missing report breaks the line rather than being invented.

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Company	Revenue	Revenue growth	Reported
Coal India Ltd COALINDIA	₹46.3K Cr	7.8%	Jun 2026
Vedanta Ltd VEDL	₹24.2K Cr	54%	Jun 2026
Bharat Coking Coal Ltd BHARATCOAL	₹3.6K Cr	-3.6%	Jun 2026
Ashapura Minechem Ltd ASHAPURMIN	₹2.0K Cr	255%	Mar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD	₹907 Cr	24%	Jun 2026
Indian Metals & Ferro Alloys Ltd IMFA	₹763 Cr	35%	Mar 2026
MOIL Ltd MOIL⚠ unverified	₹444 Cr	2.5%	Mar 2026
20 Microns Ltd 20MICRONS⚠ unverified	₹245 Cr	-0.8%	Jun 2026
KIOCL Ltd KIOCL	₹220 Cr	-11%	Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified	₹62 Cr	53%	Jun 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified	₹29 Cr	332%	Mar 2026
Deccan Gold Mines Ltd DECNGOLD	₹9 Cr	1,885%	Mar 2026
Midwest Energy Ltd 526570	₹6 Cr	3,288%	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

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹535 Cr

Mar 2023₹696 Cr

Jun 2023₹1.0K Cr

Sep 2023₹554 Cr

Dec 2023₹713 Cr

Mar 2024₹440 Cr

Jun 2024₹714 Cr

Sep 2024₹604 Cr

Dec 2024₹865 Cr

Mar 2025₹555 Cr

Jun 2025₹1.4K Cr

Sep 2025₹952 Cr

Dec 2025₹960 Cr

Mar 2026₹2.0K Cr

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024₹3.7K Cr

Mar 2025₹3.9K Cr

Jun 2025₹3.7K Cr

Sep 2025₹2.6K Cr

Dec 2025₹3.5K Cr

Mar 2026₹3.3K Cr

Jun 2026₹3.6K Cr

Coal India Ltd · COALINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹29.8K Cr

Dec 2022₹35.2K Cr

Mar 2023₹38.2K Cr

Jun 2023₹36.0K Cr

Sep 2023₹32.8K Cr

Dec 2023₹36.2K Cr

Mar 2024₹38.2K Cr

Jun 2024₹36.5K Cr

Sep 2024₹31.2K Cr

Dec 2024₹36.9K Cr

Mar 2025₹37.8K Cr

Jun 2025₹42.9K Cr

Sep 2025₹30.2K Cr

Dec 2025₹34.9K Cr

Mar 2026₹46.5K Cr

Jun 2026₹46.3K Cr

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹0 Cr

Mar 2023₹0 Cr

Jun 2023₹1 Cr

Sep 2023₹0 Cr

Dec 2023₹0 Cr

Mar 2024₹3 Cr

Jun 2024₹3 Cr

Sep 2024₹4 Cr

Dec 2024₹1 Cr

Mar 2025₹0 Cr

Jun 2025₹0 Cr

Sep 2025₹3 Cr

Dec 2025₹1 Cr

Mar 2026₹9 Cr

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021₹452 Cr

Dec 2021₹725 Cr

Mar 2022₹1.1K Cr

Jun 2022₹1.2K Cr

Sep 2022₹539 Cr

Dec 2022₹855 Cr

Mar 2023₹948 Cr

Jun 2023₹766 Cr

Sep 2023₹383 Cr

Dec 2023₹564 Cr

Mar 2024₹750 Cr

Jun 2024₹818 Cr

Sep 2024₹593 Cr

Dec 2024₹653 Cr

Mar 2025₹786 Cr

Jun 2025₹733 Cr

Sep 2025₹528 Cr

Dec 2025₹579 Cr

Mar 2026₹814 Cr

Jun 2026₹907 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021₹653 Cr

Dec 2021₹655 Cr

Mar 2022₹757 Cr

Jun 2022₹743 Cr

Sep 2022₹672 Cr

Dec 2022₹624 Cr

Mar 2023₹637 Cr

Jun 2023₹702 Cr

Sep 2023₹693 Cr

Dec 2023₹685 Cr

Mar 2024₹701 Cr

Jun 2024₹662 Cr

Sep 2024₹692 Cr

Dec 2024₹643 Cr

Mar 2025₹567 Cr

Jun 2025₹642 Cr

Sep 2025₹719 Cr

Dec 2025₹703 Cr

Mar 2026₹763 Cr

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021₹463 Cr

Dec 2021₹364 Cr

Mar 2022₹1.1K Cr

Jun 2022₹366 Cr

Sep 2022₹154 Cr

Dec 2022₹288 Cr

Mar 2023₹735 Cr

Jun 2023₹501 Cr

Sep 2023₹431 Cr

Dec 2023₹549 Cr

Mar 2024₹372 Cr

Jun 2024₹147 Cr

Sep 2024₹16 Cr

Dec 2024₹181 Cr

Mar 2025₹246 Cr

Jun 2025₹91 Cr

Sep 2025₹143 Cr

Dec 2025₹160 Cr

Mar 2026₹220 Cr

Jun 2026—

Midwest Energy Ltd · 526570

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹0 Cr

Dec 2022₹0 Cr

Mar 2023₹0 Cr

Jun 2023₹0 Cr

Sep 2023₹0 Cr

Dec 2023₹0 Cr

Mar 2024₹1 Cr

Jun 2024₹0 Cr

Sep 2024₹0 Cr

Dec 2024₹0 Cr

Mar 2025₹0 Cr

Jun 2025₹0 Cr

Sep 2025₹1 Cr

Dec 2025₹1 Cr

Mar 2026₹6 Cr

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 2021₹312 Cr

Dec 2021₹363 Cr

Mar 2022₹468 Cr

Jun 2022₹376 Cr

Sep 2022₹236 Cr

Dec 2022₹302 Cr

Mar 2023₹428 Cr

Jun 2023₹380 Cr

Sep 2023₹348 Cr

Dec 2023₹306 Cr

Mar 2024₹416 Cr

Jun 2024₹493 Cr

Sep 2024₹292 Cr

Dec 2024₹367 Cr

Mar 2025₹433 Cr

Jun 2025₹348 Cr

Sep 2025₹348 Cr

Dec 2025₹360 Cr

Mar 2026₹444 Cr

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹8 Cr

Mar 2023₹7 Cr

Jun 2023₹3 Cr

Sep 2023₹17 Cr

Dec 2023₹28 Cr

Mar 2024₹34 Cr

Jun 2024₹14 Cr

Sep 2024₹23 Cr

Dec 2024₹21 Cr

Mar 2025₹7 Cr

Jun 2025₹19 Cr

Sep 2025₹25 Cr

Dec 2025₹21 Cr

Mar 2026₹29 Cr

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹25 Cr

Dec 2022₹35 Cr

Mar 2023₹38 Cr

Jun 2023₹23 Cr

Sep 2023₹23 Cr

Dec 2023₹42 Cr

Mar 2024₹45 Cr

Jun 2024₹29 Cr

Sep 2024₹27 Cr

Dec 2024₹49 Cr

Mar 2025₹74 Cr

Jun 2025₹40 Cr

Sep 2025₹62 Cr

Dec 2025₹63 Cr

Mar 2026₹78 Cr

Jun 2026₹62 Cr

Vedanta Ltd · VEDL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹34.1K Cr

Mar 2023₹37.9K Cr

Jun 2023₹33.7K Cr

Sep 2023₹38.9K Cr

Dec 2023₹35.5K Cr

Mar 2024₹35.5K Cr

Jun 2024₹35.8K Cr

Sep 2024₹37.6K Cr

Dec 2024₹17.1K Cr

Mar 2025₹16.7K Cr

Jun 2025₹15.8K Cr

Sep 2025₹18.7K Cr

Dec 2025₹21.3K Cr

Mar 2026₹24.6K Cr

Jun 2026₹24.2K 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

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202333%

Mar 2024-37%

Jun 2024-30%

Sep 20249.0%

Dec 202421%

Mar 202526%

Jun 202590%

Sep 202558%

Dec 202511%

Mar 2026255%

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-5.9%

Mar 2026-15%

Jun 2026-3.6%

Coal India Ltd · COALINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20239.9%

Dec 20232.8%

Mar 20240.2%

Jun 20241.3%

Sep 2024-4.9%

Dec 20242.0%

Mar 2025-1.0%

Jun 202518%

Sep 2025-3.2%

Dec 2025-5.3%

Mar 202623%

Jun 20267.8%

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20243,489%

Jun 2024405%

Sep 20245,983%

Dec 2024245%

Mar 2025-85%

Jun 2025-88%

Sep 2025-16%

Dec 202532%

Mar 20261,885%

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022132%

Sep 202219%

Dec 202218%

Mar 2023-10%

Jun 2023-34%

Sep 2023-29%

Dec 2023-34%

Mar 2024-21%

Jun 20246.8%

Sep 202455%

Dec 202416%

Mar 20254.8%

Jun 2025-10%

Sep 2025-11%

Dec 2025-11%

Mar 20263.6%

Jun 202624%

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202238%

Sep 20222.9%

Dec 2022-4.7%

Mar 2023-16%

Jun 2023-5.5%

Sep 20233.1%

Dec 20239.8%

Mar 202410%

Jun 2024-5.7%

Sep 2024-0.1%

Dec 2024-6.1%

Mar 2025-19%

Jun 2025-3.0%

Sep 20253.9%

Dec 20259.3%

Mar 202635%

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-65%

Sep 2022-67%

Dec 2022-21%

Mar 2023-35%

Jun 202337%

Sep 2023180%

Dec 202391%

Mar 2024-49%

Jun 2024-71%

Sep 2024-96%

Dec 2024-67%

Mar 2025-34%

Jun 2025-38%

Sep 2025794%

Dec 2025-12%

Mar 2026-11%

Jun 2026—

Midwest Energy Ltd · 526570

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-76%

Dec 2023-100%

Mar 2024248%

Jun 2024-100%

Sep 2024-86%

Dec 2024—

Mar 2025-77%

Jun 2025—

Sep 202511,900%

Dec 2025362%

Mar 20263,288%

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 20211.6%

Dec 202135%

Mar 2022—

Jun 202228%

Sep 2022-24%

Dec 2022-17%

Mar 2023-8.6%

Jun 20231.1%

Sep 202347%

Dec 20231.3%

Mar 2024-2.8%

Jun 202430%

Sep 2024-16%

Dec 202420%

Mar 20254.1%

Jun 2025-29%

Sep 202519%

Dec 2025-1.9%

Mar 20262.5%

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023258%

Mar 2024388%

Jun 2024308%

Sep 202441%

Dec 2024-27%

Mar 2025-80%

Jun 202540%

Sep 20257.4%

Dec 2025-0.1%

Mar 2026332%

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-6.4%

Dec 202319%

Mar 202418%

Jun 202428%

Sep 202418%

Dec 202415%

Mar 202564%

Jun 202537%

Sep 2025128%

Dec 202529%

Mar 20265.2%

Jun 202653%

Vedanta Ltd · VEDL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 20234.2%

Mar 2024-6.4%

Jun 20246.0%

Sep 2024-3.4%

Dec 2024-52%

Mar 2025-53%

Jun 2025-56%

Sep 2025-50%

Dec 202525%

Mar 202647%

Jun 202654%

07 · compare level, then change

Operating Economics & Margin Trend

Vedanta Ltd has the highest OPM among the 13 Mining/Minerals companies compared here, at 35%. Coal India Ltd is next at 26%. 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 Jun 2026.

What the numbers say: Vedanta Ltd leads opm at 35%; Deccan Gold Mines Ltd leads margin change at +4492.4 percentage points.

LeaderVedanta Ltd · 35%

Gap34.6% versus #2 · Coal India Ltd

Persistence4/8 recent comparable periods

Coverage13/13 companies · 227 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 VEDL35%

2Coal India Ltd COALINDIA26%

3South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified24%

4Gujarat Mineral Development Corporation Ltd GMDCLTD21%

5Indian Metals & Ferro Alloys Ltd IMFA21%

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

All-company data · latest reported quarter

Company	OPM	Margin change	Reported
Vedanta Ltd VEDL	35%	+8.0 pp	Jun 2026
Coal India Ltd COALINDIA	26%	−3.0 pp	Jun 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified	24%	+9.8 pp	Jun 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD	21%	−2.0 pp	Jun 2026
Indian Metals & Ferro Alloys Ltd IMFA	21%	+9.0 pp	Mar 2026
MOIL Ltd MOIL⚠ unverified	21%	−28.5 pp	Mar 2026
KIOCL Ltd KIOCL	14%	+31.0 pp	Mar 2026
20 Microns Ltd 20MICRONS⚠ unverified	13%	0.0 pp	Jun 2026
Ashapura Minechem Ltd ASHAPURMIN	6.0%	−9.0 pp	Mar 2026
Bharat Coking Coal Ltd BHARATCOAL	-1.8%	−6.8 pp	Jun 2026
Deccan Gold Mines Ltd DECNGOLD	-14%	+4,492.5 pp	Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified	-32%	+511.5 pp	Mar 2026
Midwest Energy Ltd 526570	-56%	+1,202.9 pp	Mar 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

Sep 202111%

Dec 2021-12%

Mar 20228.5%

Jun 202213%

Sep 20222.4%

Dec 202211%

Mar 20238.0%

Jun 202311%

Sep 20236.0%

Dec 20238.0%

Mar 202411%

Jun 202412%

Sep 202411%

Dec 202416%

Mar 202515%

Jun 202513%

Sep 202514%

Dec 202512%

Mar 20266.0%

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 202416%

Dec 202415%

Mar 20251.6%

Jun 20255.0%

Sep 2025-15%

Dec 20251.0%

Mar 2026-10%

Jun 2026-1.8%

Coal India Ltd · COALINDIA

Sep 202117%

Dec 202124%

Mar 202228%

Jun 202235%

Sep 202224%

Dec 202230%

Mar 202324%

Jun 202338%

Sep 202331%

Dec 202336%

Mar 202430%

Jun 202439%

Sep 202428%

Dec 202433%

Mar 202531%

Jun 202529%

Sep 202522%

Dec 202527%

Mar 202627%

Jun 202626%

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-175%

Sep 2022—

Dec 2022—

Mar 2023-922%

Jun 2023-48%

Sep 2023—

Dec 2023—

Mar 2024-138%

Jun 2024-120%

Sep 2024-573%

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025-303%

Dec 2025-716%

Mar 2026-14%

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 20215.8%

Dec 202128%

Mar 202244%

Jun 202238%

Sep 202232%

Dec 202239%

Mar 202341%

Jun 202332%

Sep 202313%

Dec 202321%

Mar 202425%

Jun 202426%

Sep 202424%

Dec 202414%

Mar 202525%

Jun 202523%

Sep 202513%

Dec 202517%

Mar 202613%

Jun 202621%

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 202136%

Dec 202132%

Mar 202225%

Jun 202229%

Sep 202211%

Dec 20229.0%

Mar 202322%

Jun 202325%

Sep 202322%

Dec 202323%

Mar 202415%

Jun 202424%

Sep 202425%

Dec 202420%

Mar 202512%

Jun 202520%

Sep 202519%

Dec 202523%

Mar 202621%

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021-11%

Dec 2021-26%

Mar 202221%

Jun 2022-15%

Sep 2022-74%

Dec 2022-15%

Mar 20236.0%

Jun 2023-13%

Sep 2023-4.5%

Dec 20237.0%

Mar 2024-7.0%

Jun 2024-33%

Sep 2024-417%

Dec 2024-24%

Mar 2025-17%

Jun 2025-46%

Sep 2025-15%

Dec 20252.7%

Mar 202614%

Jun 2026—

Midwest Energy Ltd · 526570

Sep 2021-300%

Dec 2021—

Mar 2022-800%

Jun 2022-9.3%

Sep 2022—

Dec 2022-155%

Mar 2023-157%

Jun 2023-63%

Sep 2023-571%

Dec 2023-571%

Mar 2024-49%

Jun 2024-49%

Sep 2024—

Dec 2024-208%

Mar 2025—

Jun 2025-555%

Sep 2025-170%

Dec 2025-168%

Mar 2026-56%

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 202118%

Dec 202138%

Mar 202240%

Jun 202233%

Sep 20222.6%

Dec 20228.4%

Mar 202345%

Jun 202324%

Sep 202318%

Dec 202317%

Mar 202443%

Jun 202436%

Sep 202414%

Dec 202415%

Mar 202549%

Jun 202512%

Sep 202517%

Dec 202515%

Mar 202621%

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 202157%

Dec 202137%

Mar 2022-21%

Jun 202214%

Sep 2022-43%

Dec 2022-48%

Mar 2023-109%

Jun 2023-170%

Sep 202318%

Dec 202344%

Mar 202439%

Jun 202422%

Sep 202429%

Dec 2024-9.8%

Mar 2025-544%

Jun 20254.6%

Sep 202529%

Dec 202550%

Mar 2026-32%

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 202120%

Dec 202118%

Mar 202226%

Jun 202218%

Sep 202216%

Dec 202211%

Mar 202320%

Jun 202315%

Sep 202317%

Dec 202322%

Mar 202417%

Jun 202416%

Sep 202413%

Dec 202418%

Mar 202521%

Jun 202514%

Sep 202523%

Dec 202527%

Mar 202626%

Jun 202624%

Vedanta Ltd · VEDL

Sep 202134%

Dec 202132%

Mar 202234%

Jun 202226%

Sep 202221%

Dec 202221%

Mar 202325%

Jun 202319%

Sep 202329%

Dec 202324%

Mar 202425%

Jun 202428%

Sep 202426%

Dec 202429%

Mar 202531%

Jun 202527%

Sep 202526%

Dec 202531%

Mar 202631%

Jun 202635%

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

Sep 2021+9.1 pp

Dec 2021−23.1 pp

Mar 2022−6.4 pp

Jun 2022−3.0 pp

Sep 2022−8.2 pp

Dec 2022+23.4 pp

Mar 2023−0.5 pp

Jun 2023−1.7 pp

Sep 2023+3.6 pp

Dec 2023−3.0 pp

Mar 2024+3.0 pp

Jun 2024+1.0 pp

Sep 2024+5.0 pp

Dec 2024+8.0 pp

Mar 2025+4.0 pp

Jun 2025+1.0 pp

Sep 2025+3.0 pp

Dec 2025−4.0 pp

Mar 2026−9.0 pp

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025−31.5 pp

Dec 2025−14.0 pp

Mar 2026−11.6 pp

Jun 2026−6.8 pp

Coal India Ltd · COALINDIA

Sep 2021−1.9 pp

Dec 2021+2.2 pp

Mar 2022+3.7 pp

Jun 2022+15.7 pp

Sep 2022+7.1 pp

Dec 2022+6.0 pp

Mar 2023−3.8 pp

Jun 2023+3.2 pp

Sep 2023+7.0 pp

Dec 2023+6.0 pp

Mar 2024+6.0 pp

Jun 2024+1.0 pp

Sep 2024−3.0 pp

Dec 2024−3.0 pp

Mar 2025+1.0 pp

Jun 2025−10.0 pp

Sep 2025−6.0 pp

Dec 2025−6.0 pp

Mar 2026−4.0 pp

Jun 2026−3.0 pp

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021−2,550.0 pp

Mar 2022+2,550.0 pp

Jun 2022+7,425.0 pp

Sep 2022—

Dec 2022—

Mar 2023+277.8 pp

Jun 2023+127.5 pp

Sep 2023−2,386.7 pp

Dec 2023—

Mar 2024+784.5 pp

Jun 2024−72.9 pp

Sep 2024+3,093.8 pp

Dec 2024−12.5 pp

Mar 2025−4,368.6 pp

Jun 2025−6,232.2 pp

Sep 2025+269.9 pp

Dec 2025+1,387.2 pp

Mar 2026+4,492.5 pp

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021+6.8 pp

Dec 2021+39.5 pp

Mar 2022+38.1 pp

Jun 2022+32.0 pp

Sep 2022+25.9 pp

Dec 2022+11.2 pp

Mar 2023−2.7 pp

Jun 2023−6.1 pp

Sep 2023−18.8 pp

Dec 2023−18.0 pp

Mar 2024−16.0 pp

Jun 2024−6.0 pp

Sep 2024+11.0 pp

Dec 2024−7.0 pp

Mar 20250.0 pp

Jun 2025−3.0 pp

Sep 2025−11.0 pp

Dec 2025+3.0 pp

Mar 2026−12.0 pp

Jun 2026−2.0 pp

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021+18.6 pp

Dec 2021+16.3 pp

Mar 2022+2.6 pp

Jun 2022−2.9 pp

Sep 2022−25.4 pp

Dec 2022−23.3 pp

Mar 2023−3.0 pp

Jun 2023−4.3 pp

Sep 2023+11.2 pp

Dec 2023+14.0 pp

Mar 2024−7.0 pp

Jun 2024−1.0 pp

Sep 2024+3.0 pp

Dec 2024−3.0 pp

Mar 2025−3.0 pp

Jun 2025−4.0 pp

Sep 2025−6.0 pp

Dec 2025+3.0 pp

Mar 2026+9.0 pp

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021−16.2 pp

Dec 2021−39.1 pp

Mar 2022−6.1 pp

Jun 2022−42.2 pp

Sep 2022−63.0 pp

Dec 2022+10.6 pp

Mar 2023−14.7 pp

Jun 2023+1.6 pp

Sep 2023+69.1 pp

Dec 2023+22.0 pp

Mar 2024−13.0 pp

Jun 2024−20.0 pp

Sep 2024−412.5 pp

Dec 2024−31.0 pp

Mar 2025−10.0 pp

Jun 2025−13.0 pp

Sep 2025+402.0 pp

Dec 2025+26.7 pp

Mar 2026+31.0 pp

Jun 2026—

Midwest Energy Ltd · 526570

Sep 2021−128.6 pp

Dec 2021−6,728.6 pp

Mar 2022+66.7 pp

Jun 2022+1,040.7 pp

Sep 2022−1,200.0 pp

Dec 2022+6,944.8 pp

Mar 2023+642.9 pp

Jun 2023−53.2 pp

Sep 2023+928.6 pp

Dec 2023−416.3 pp

Mar 2024+107.8 pp

Jun 2024+13.2 pp

Sep 2024−928.6 pp

Dec 2024+363.7 pp

Mar 2025−1,209.5 pp

Jun 2025−505.8 pp

Sep 2025+1,330.0 pp

Dec 2025+39.4 pp

Mar 2026+1,202.9 pp

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 2021+15.9 pp

Dec 2021+9.5 pp

Mar 2022—

Jun 2022+12.1 pp

Sep 2022−15.4 pp

Dec 2022−29.1 pp

Mar 2023+4.3 pp

Jun 2023−8.8 pp

Sep 2023+15.0 pp

Dec 2023+8.9 pp

Mar 2024−1.3 pp

Jun 2024+12.2 pp

Sep 2024−3.4 pp

Dec 2024−1.9 pp

Mar 2025+5.6 pp

Jun 2025−24.1 pp

Sep 2025+2.9 pp

Dec 2025−0.7 pp

Mar 2026−28.5 pp

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022+200.6 pp

Sep 2022−100.6 pp

Dec 2022−85.7 pp

Mar 2023−87.9 pp

Jun 2023−184.0 pp

Sep 2023+61.6 pp

Dec 2023+92.4 pp

Mar 2024+148.5 pp

Jun 2024+192.3 pp

Sep 2024+10.6 pp

Dec 2024−53.8 pp

Mar 2025−583.2 pp

Jun 2025−17.7 pp

Sep 2025−0.0 pp

Dec 2025+60.1 pp

Mar 2026+511.5 pp

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021−8.6 pp

Dec 2021−7.3 pp

Mar 2022+12.1 pp

Jun 2022−0.2 pp

Sep 2022−4.0 pp

Dec 2022−6.7 pp

Mar 2023−6.1 pp

Jun 2023−2.8 pp

Sep 2023+0.9 pp

Dec 2023+10.9 pp

Mar 2024−2.7 pp

Jun 2024+0.6 pp

Sep 2024−4.1 pp

Dec 2024−4.2 pp

Mar 2025+3.5 pp

Jun 2025−1.2 pp

Sep 2025+10.5 pp

Dec 2025+9.2 pp

Mar 2026+5.4 pp

Jun 2026+9.8 pp

Vedanta Ltd · VEDL

Sep 2021+3.3 pp

Dec 2021−2.4 pp

Mar 2022+2.2 pp

Jun 2022−8.3 pp

Sep 2022−13.3 pp

Dec 2022−10.7 pp

Mar 2023−9.2 pp

Jun 2023−7.4 pp

Sep 2023+8.0 pp

Dec 2023+3.0 pp

Mar 20240.0 pp

Jun 2024+9.0 pp

Sep 2024−3.0 pp

Dec 2024+5.0 pp

Mar 2025+6.0 pp

Jun 2025−1.0 pp

Sep 20250.0 pp

Dec 2025+2.0 pp

Mar 20260.0 pp

Jun 2026+8.0 pp

08 · compare level, then change

Profit Scale & Acceleration

Coal India Ltd has the highest Net profit among the 13 Mining/Minerals companies compared here, at ₹31,187 crore. Vedanta Ltd is next at ₹28,556 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 ₹31,187 crore of TTM profit, 9.2% 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 · ₹31,187 crore

Gap9.2% versus #2 · Vedanta Ltd

Persistence3/8 recent comparable periods

Coverage13/13 companies · 203 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₹31.2K Cr

2Vedanta Ltd VEDL₹28.6K Cr

3Gujarat Mineral Development Corporation Ltd GMDCLTD₹956 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 GMDCLTD44%

4Vedanta Ltd VEDL44%

5Indian Metals & Ferro Alloys Ltd IMFA12%

Net profit · company comparison

13/13 level · 9/13 change

All-company data · latest reported quarter

Company	Net profit	Profit growth	Reported
Coal India Ltd COALINDIA	₹8.9K Cr	0.7%	Jun 2026
Vedanta Ltd VEDL	₹7.9K Cr	78%	Jun 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD	₹163 Cr	-0.6%	Jun 2026
Ashapura Minechem Ltd ASHAPURMIN	₹121 Cr	53%	Mar 2026
Indian Metals & Ferro Alloys Ltd IMFA	₹103 Cr	119%	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 Cr	5.9%	Jun 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified	₹9 Cr	289%	Jun 2026
Deccan Gold Mines Ltd DECNGOLD	₹6 Cr	-52%	Mar 2026
Midwest Energy Ltd 526570	₹-3 Cr	—	Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified	₹-8 Cr	297%	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

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹29 Cr

Mar 2023₹40 Cr

Jun 2023₹102 Cr

Sep 2023₹58 Cr

Dec 2023₹54 Cr

Mar 2024₹67 Cr

Jun 2024₹60 Cr

Sep 2024₹43 Cr

Dec 2024₹108 Cr

Mar 2025₹79 Cr

Jun 2025₹114 Cr

Sep 2025₹106 Cr

Dec 2025₹76 Cr

Mar 2026₹121 Cr

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024₹425 Cr

Mar 2025₹66 Cr

Jun 2025₹177 Cr

Sep 2025₹-53 Cr

Dec 2025₹-23 Cr

Mar 2026₹27 Cr

Jun 2026₹-68 Cr

Coal India Ltd · COALINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹6.0K Cr

Dec 2022₹7.7K Cr

Mar 2023₹6.9K Cr

Jun 2023₹10.5K Cr

Sep 2023₹8.0K Cr

Dec 2023₹10.3K Cr

Mar 2024₹8.5K Cr

Jun 2024₹10.9K Cr

Sep 2024₹6.3K Cr

Dec 2024₹8.5K Cr

Mar 2025₹9.6K Cr

Jun 2025₹8.8K Cr

Sep 2025₹4.3K Cr

Dec 2025₹7.2K Cr

Mar 2026₹10.9K Cr

Jun 2026₹8.9K Cr

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-1 Cr

Mar 2023₹-1 Cr

Jun 2023₹-0 Cr

Sep 2023₹-4 Cr

Dec 2023₹5 Cr

Mar 2024₹-68 Cr

Jun 2024₹38 Cr

Sep 2024₹-68 Cr

Dec 2024₹-25 Cr

Mar 2025₹12 Cr

Jun 2025₹-28 Cr

Sep 2025₹-20 Cr

Dec 2025₹-22 Cr

Mar 2026₹6 Cr

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021₹40 Cr

Dec 2021₹150 Cr

Mar 2022₹218 Cr

Jun 2022₹345 Cr

Sep 2022₹151 Cr

Dec 2022₹266 Cr

Mar 2023₹442 Cr

Jun 2023₹219 Cr

Sep 2023₹75 Cr

Dec 2023₹117 Cr

Mar 2024₹187 Cr

Jun 2024₹184 Cr

Sep 2024₹128 Cr

Dec 2024₹148 Cr

Mar 2025₹226 Cr

Jun 2025₹164 Cr

Sep 2025₹466 Cr

Dec 2025₹133 Cr

Mar 2026₹194 Cr

Jun 2026₹163 Cr

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021₹144 Cr

Dec 2021₹122 Cr

Mar 2022₹143 Cr

Jun 2022₹134 Cr

Sep 2022₹16 Cr

Dec 2022₹11 Cr

Mar 2023₹64 Cr

Jun 2023₹111 Cr

Sep 2023₹89 Cr

Dec 2023₹109 Cr

Mar 2024₹36 Cr

Jun 2024₹113 Cr

Sep 2024₹125 Cr

Dec 2024₹93 Cr

Mar 2025₹47 Cr

Jun 2025₹93 Cr

Sep 2025₹98 Cr

Dec 2025₹131 Cr

Mar 2026₹103 Cr

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021₹-30 Cr

Dec 2021₹-66 Cr

Mar 2022₹194 Cr

Jun 2022₹-44 Cr

Sep 2022₹-102 Cr

Dec 2022₹-34 Cr

Mar 2023₹82 Cr

Jun 2023₹-58 Cr

Sep 2023₹-21 Cr

Dec 2023₹39 Cr

Mar 2024₹-43 Cr

Jun 2024₹-51 Cr

Sep 2024₹-69 Cr

Dec 2024₹-48 Cr

Mar 2025₹-37 Cr

Jun 2025₹-38 Cr

Sep 2025₹-17 Cr

Dec 2025₹18 Cr

Mar 2026₹53 Cr

Jun 2026—

Midwest Energy Ltd · 526570

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹-5 Cr

Dec 2022₹-1 Cr

Mar 2023₹-4 Cr

Jun 2023₹-0 Cr

Sep 2023₹-1 Cr

Dec 2023₹-0 Cr

Mar 2024₹-1 Cr

Jun 2024₹-1 Cr

Sep 2024₹-0 Cr

Dec 2024₹-1 Cr

Mar 2025₹-2 Cr

Jun 2025₹-4 Cr

Sep 2025₹-4 Cr

Dec 2025₹-3 Cr

Mar 2026₹-3 Cr

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 2021₹60 Cr

Dec 2021₹124 Cr

Mar 2022₹131 Cr

Jun 2022₹103 Cr

Sep 2022₹27 Cr

Dec 2022₹40 Cr

Mar 2023₹81 Cr

Jun 2023₹87 Cr

Sep 2023₹62 Cr

Dec 2023₹54 Cr

Mar 2024₹91 Cr

Jun 2024₹152 Cr

Sep 2024₹50 Cr

Dec 2024₹64 Cr

Mar 2025₹116 Cr

Jun 2025₹52 Cr

Sep 2025₹70 Cr

Dec 2025₹53 Cr

Mar 2026₹93 Cr

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹-9 Cr

Mar 2023₹0 Cr

Jun 2023₹-15 Cr

Sep 2023₹2 Cr

Dec 2023₹2 Cr

Mar 2024₹13 Cr

Jun 2024₹-2 Cr

Sep 2024₹1 Cr

Dec 2024₹-7 Cr

Mar 2025₹-32 Cr

Jun 2025₹-3 Cr

Sep 2025₹3 Cr

Dec 2025₹4 Cr

Mar 2026₹-8 Cr

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022₹2 Cr

Dec 2022₹1 Cr

Mar 2023₹4 Cr

Jun 2023₹0 Cr

Sep 2023₹1 Cr

Dec 2023₹4 Cr

Mar 2024₹3 Cr

Jun 2024₹2 Cr

Sep 2024₹0 Cr

Dec 2024₹4 Cr

Mar 2025₹10 Cr

Jun 2025₹2 Cr

Sep 2025₹8 Cr

Dec 2025₹9 Cr

Mar 2026₹13 Cr

Jun 2026₹9 Cr

Vedanta Ltd · VEDL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022₹3.1K Cr

Mar 2023₹3.1K Cr

Jun 2023₹3.3K Cr

Sep 2023₹-915 Cr

Dec 2023₹2.9K Cr

Mar 2024₹2.3K Cr

Jun 2024₹5.1K Cr

Sep 2024₹5.6K Cr

Dec 2024₹4.9K Cr

Mar 2025₹5.0K Cr

Jun 2025₹4.5K Cr

Sep 2025₹3.5K Cr

Dec 2025₹7.8K Cr

Mar 2026₹9.4K Cr

Jun 2026₹7.9K Cr

Profit growth · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202371%

Mar 202456%

Jun 202420%

Sep 20240.0%

Dec 20248.3%

Mar 20257.1%

Jun 2025-5.6%

Sep 20256.3%

Dec 202515%

Mar 202620%

Jun 20265.9%

Ashapura Minechem Ltd · ASHAPURMIN

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 202386%

Mar 202468%

Jun 2024-41%

Sep 2024-26%

Dec 2024100%

Mar 202518%

Jun 202590%

Sep 2025147%

Dec 2025-30%

Mar 202653%

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-105%

Mar 2026-59%

Jun 2026-138%

Coal India Ltd · COALINDIA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 202333%

Dec 202333%

Mar 202424%

Jun 20244.3%

Sep 2024-22%

Dec 2024-18%

Mar 202512%

Jun 2025-20%

Sep 2025-32%

Dec 2025-16%

Mar 202614%

Jun 20260.7%

Deccan Gold Mines Ltd · DECNGOLD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024-577%

Mar 2025—

Jun 2025-174%

Sep 2025—

Dec 2025—

Mar 2026-52%

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022808%

Sep 2022278%

Dec 202277%

Mar 2023103%

Jun 2023-37%

Sep 2023-50%

Dec 2023-56%

Mar 2024-58%

Jun 2024-16%

Sep 202471%

Dec 202427%

Mar 202521%

Jun 2025-11%

Sep 2025264%

Dec 2025-10%

Mar 2026-14%

Jun 2026-0.6%

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 202235%

Sep 2022-89%

Dec 2022-91%

Mar 2023-55%

Jun 2023-17%

Sep 2023456%

Dec 2023891%

Mar 2024-44%

Jun 20241.8%

Sep 202440%

Dec 2024-15%

Mar 202531%

Jun 2025-18%

Sep 2025-22%

Dec 202541%

Mar 2026119%

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022-120%

Sep 2022—

Dec 2022—

Mar 2023-58%

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024-152%

Jun 2024—

Sep 2024—

Dec 2024-223%

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 2021757%

Dec 2021143%

Mar 2022—

Jun 202266%

Sep 2022-55%

Dec 2022-68%

Mar 2023-38%

Jun 2023-16%

Sep 2023130%

Dec 202335%

Mar 202412%

Jun 202475%

Sep 2024-19%

Dec 202419%

Mar 202527%

Jun 2025-66%

Sep 202540%

Dec 2025-17%

Mar 2026-20%

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 202411,142%

Jun 2024—

Sep 2024-59%

Dec 2024-423%

Mar 2025-335%

Jun 2025—

Sep 2025297%

Dec 2025—

Mar 2026—

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023-57%

Dec 2023236%

Mar 2024-30%

Jun 2024419%

Sep 2024-56%

Dec 2024-1.0%

Mar 2025257%

Jun 202528%

Sep 20251,990%

Dec 2025122%

Mar 202631%

Jun 2026289%

Vedanta Ltd · VEDL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023-7.2%

Mar 2024-27%

Jun 202454%

Sep 2024—

Dec 202470%

Mar 2025118%

Jun 2025-13%

Sep 2025-38%

Dec 202560%

Mar 202689%

Jun 202678%

09 · 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 Jun 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 · 99 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+4.0 pp

5Ashapura Minechem Ltd ASHAPURMIN+2.0 pp

Return on capital · company comparison

13/13 level · 13/13 change

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; Vedanta Ltd (VEDL) — its two data sources disagree by up to 126% on reported income across 13 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

Company	ROCE	ROCE change	Reported
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified	29%	+11.6 pp	Jun 2026
20 Microns Ltd 20MICRONS⚠ unverified	19%	−1.1 pp	Jun 2026
Indian Metals & Ferro Alloys Ltd IMFA	17%	−2.6 pp	Mar 2026
MOIL Ltd MOIL⚠ unverified	8.9%	−8.7 pp	Mar 2026
Gujarat Mineral Development Corporation Ltd GMDCLTD	4.0%	−5.3 pp	Jun 2026
KIOCL Ltd KIOCL	-3.0%	+9.1 pp	Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified	-27%	−126.7 pp	Mar 2026

Full 20-quarter history · every available company

ROCE · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

Sep 202123%

Dec 2021—

Mar 202221%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202321%

Jun 2023—

Sep 202322%

Dec 202325%

Mar 202423%

Jun 202426%

Sep 202421%

Dec 202425%

Mar 202520%

Jun 202523%

Sep 202519%

Dec 202521%

Mar 202619%

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021-0.8%

Dec 2021—

Mar 202212%

Jun 2022—

Sep 202220%

Dec 2022—

Mar 202320%

Jun 2023—

Sep 202315%

Dec 202319%

Mar 20248.6%

Jun 202412%

Sep 20249.2%

Dec 202413%

Mar 20259.3%

Jun 202512%

Sep 20257.3%

Dec 202518%

Mar 20264.0%

Jun 2026—

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 202126%

Dec 2021—

Mar 202235%

Jun 2022—

Sep 202229%

Dec 2022—

Mar 202320%

Jun 2023—

Sep 202319%

Dec 202326%

Mar 202424%

Jun 202427%

Sep 202423%

Dec 202425%

Mar 202519%

Jun 202522%

Sep 202515%

Dec 202521%

Mar 202617%

Jun 2026—

KIOCL Ltd · KIOCL

Sep 202123%

Dec 2021—

Mar 202215%

Jun 2022—

Sep 2022-2.6%

Dec 2022—

Mar 2023-8.5%

Jun 2023—

Sep 2023-4.9%

Dec 20231.5%

Mar 2024-4.7%

Jun 2024-1.8%

Sep 2024-6.7%

Dec 2024-8.2%

Mar 2025-12%

Jun 2025-8.6%

Sep 2025-9.9%

Dec 2025-3.3%

Mar 2026-3.0%

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 202111%

Dec 2021—

Mar 202220%

Jun 2022—

Sep 202220%

Dec 2022—

Mar 202315%

Jun 2023—

Sep 202315%

Dec 2023—

Mar 202415%

Jun 2024—

Sep 202417%

Dec 2024—

Mar 202518%

Jun 2025—

Sep 202513%

Dec 2025—

Mar 20268.9%

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021-1.5%

Dec 2021—

Mar 20226.7%

Jun 2022—

Sep 2022-13%

Dec 2022—

Mar 2023999%

Jun 2023—

Sep 2023120%

Dec 20237.4%

Mar 2024-768%

Jun 202474%

Sep 20241,187%

Dec 2024100%

Mar 2025-22%

Jun 2025-30%

Sep 2025-32%

Dec 2025-27%

Mar 2026—

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 202114%

Dec 2021—

Mar 202215%

Jun 2022—

Sep 2022—

Dec 2022—

Mar 202311%

Jun 202313%

Sep 20238.6%

Dec 202314%

Mar 202411%

Jun 202415%

Sep 202411%

Dec 202414%

Mar 202513%

Jun 202517%

Sep 202518%

Dec 202527%

Mar 202621%

Jun 202629%

ROCE change · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−0.3 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+1.9 pp

Jun 2024—

Sep 2024−0.5 pp

Dec 2024−0.5 pp

Mar 2025−2.8 pp

Jun 2025−3.6 pp

Sep 2025−1.9 pp

Dec 2025−3.5 pp

Mar 2026−1.1 pp

Jun 2026—

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+20.8 pp

Dec 2022—

Mar 2023+8.1 pp

Jun 2023—

Sep 2023−5.2 pp

Dec 2023—

Mar 2024−11.0 pp

Jun 2024—

Sep 2024−5.6 pp

Dec 2024−6.2 pp

Mar 2025+0.7 pp

Jun 2025+0.9 pp

Sep 2025−1.9 pp

Dec 2025+5.3 pp

Mar 2026−5.3 pp

Jun 2026—

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+2.6 pp

Dec 2022—

Mar 2023−15.2 pp

Jun 2023—

Sep 2023−9.5 pp

Dec 2023—

Mar 2024+4.0 pp

Jun 2024—

Sep 2024+4.0 pp

Dec 2024−1.2 pp

Mar 2025−4.8 pp

Jun 2025−4.4 pp

Sep 2025−8.0 pp

Dec 2025−4.6 pp

Mar 2026−2.6 pp

Jun 2026—

KIOCL Ltd · KIOCL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−26.0 pp

Dec 2022—

Mar 2023−23.4 pp

Jun 2023—

Sep 2023−2.3 pp

Dec 2023—

Mar 2024+3.8 pp

Jun 2024—

Sep 2024−1.8 pp

Dec 2024−9.7 pp

Mar 2025−7.4 pp

Jun 2025−6.8 pp

Sep 2025−3.2 pp

Dec 2025+4.9 pp

Mar 2026+9.1 pp

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022+9.5 pp

Dec 2022—

Mar 2023−5.1 pp

Jun 2023—

Sep 2023−4.9 pp

Dec 2023—

Mar 2024+0.3 pp

Jun 2024—

Sep 2024+1.7 pp

Dec 2024—

Mar 2025+2.4 pp

Jun 2025—

Sep 2025−3.8 pp

Dec 2025—

Mar 2026−8.7 pp

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022−11.7 pp

Dec 2022—

Mar 2023+992.6 pp

Jun 2023—

Sep 2023+132.9 pp

Dec 2023—

Mar 2024−1,767.2 pp

Jun 2024—

Sep 2024+1,066.9 pp

Dec 2024+92.5 pp

Mar 2025+746.1 pp

Jun 2025−104.2 pp

Sep 2025−1,218.9 pp

Dec 2025−126.7 pp

Mar 2026—

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023−3.7 pp

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024+0.1 pp

Jun 2024+2.0 pp

Sep 2024+2.4 pp

Dec 2024−0.3 pp

Mar 2025+2.3 pp

Jun 2025+2.4 pp

Sep 2025+6.6 pp

Dec 2025+12.5 pp

Mar 2026+7.5 pp

Jun 2026+11.6 pp

10 · compare level, then change

Valuation Against Growth & Quality

Indian Metals & Ferro Alloys Ltd has the lowest PEG among the 13 Mining/Minerals companies compared here, at 1.08×. Gujarat Mineral Development Corporation Ltd is next at 1.28×. Coal India Ltd has the lowest P/E at 8.18×, so level and change sit with different companies. 2 of 13 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Indian Metals & Ferro Alloys Ltd has the lowest comparable PEG at 1.08×, 15.6% below Gujarat Mineral Development Corporation Ltd. Only 2 of 13 companies have earnings and growth steady enough for the ratio to mean anything, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

LeaderIndian Metals & Ferro Alloys Ltd · 1.08×

Gap15.6% versus #2 · Gujarat Mineral Development Corporation Ltd

Persistence0/8 recent comparable periods

Coverage2/13 companies · 11 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 feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

PEGlowest PEG

1Indian Metals & Ferro Alloys Ltd IMFA1.1

2Gujarat Mineral Development Corporation Ltd GMDCLTD1.3

P/Elowest P/E

1Coal India Ltd COALINDIA8.2

2Vedanta Ltd VEDL9.4

320 Microns Ltd 20MICRONS⚠ unverified10.0

4Ashapura Minechem Ltd ASHAPURMIN16.6

5Indian Metals & Ferro Alloys Ltd IMFA18.4

Valuation · company comparison

2/13 level · 9/13 change

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

Company	PEG	P/E	Reported
Gujarat Mineral Development Corporation Ltd GMDCLTD	1.3	33.2	Jun 2026
Indian Metals & Ferro Alloys Ltd IMFA	1.1	18.0	Mar 2026
Coal India Ltd COALINDIA	—	8.6	Jun 2026
Vedanta Ltd VEDL	—	6.2	Jun 2026
KIOCL Ltd KIOCL	—	1,162.3	Mar 2026
Bharat Coking Coal Ltd BHARATCOAL	—	140.5	Jun 2026
Ashapura Minechem Ltd ASHAPURMIN	—	12.2	Mar 2026
MOIL Ltd MOIL⚠ unverified	—	62.9	Mar 2026
Orissa Minerals Development Company Ltd ORISSAMINE⚠ unverified	—	987.6	Mar 2026
South West Pinnacle Exploration Ltd SOUTHWEST⚠ unverified	—	20.2	Jun 2026
20 Microns Ltd 20MICRONS⚠ unverified	—	10.5	Jun 2026

Full 20-quarter history · every available company

PEG · reported quarter history

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 2021—

Dec 20210.2

Mar 2022—

Jun 20220.4

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 20230.2

Dec 20230.8

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 20250.6

Jun 20251.3

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 20220.2

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 20240.4

Jun 20240.2

Sep 2024—

Dec 20240.3

Mar 2025—

Jun 20251.1

Sep 2025—

Dec 2025—

Mar 2026—

Jun 2026—

P/E · reported quarter history

20 Microns Ltd · 20MICRONS⚠ unverified

Sep 20217.5

Dec 20218.6

Mar 20228.7

Jun 20226.9

Sep 20228.2

Dec 20226.8

Mar 20236.1

Jun 20238.0

Sep 202310.8

Dec 202312.8

Mar 20249.6

Jun 202413.6

Sep 202417.4

Dec 202413.7

Mar 202510.9

Jun 202512.8

Sep 202512.5

Dec 202512.1

Mar 20267.7

Jun 202610.5

Ashapura Minechem Ltd · ASHAPURMIN

Sep 20219.3

Dec 20215.5

Mar 202210.1

Jun 20229.7

Sep 202212.6

Dec 202224.0

Mar 202311.5

Jun 20239.9

Sep 202314.6

Dec 202316.9

Mar 202415.3

Jun 202418.1

Sep 202417.3

Dec 202423.1

Mar 202514.7

Jun 202513.8

Sep 202518.1

Dec 202521.5

Mar 202612.2

Jun 2026—

Bharat Coking Coal Ltd · BHARATCOAL

Sep 2021—

Dec 2021—

Mar 2022—

Jun 2022—

Sep 2022—

Dec 2022—

Mar 2023—

Jun 2023—

Sep 2023—

Dec 2023—

Mar 2024—

Jun 2024—

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025—

Mar 20260.1

Jun 2026140.5

Coal India Ltd · COALINDIA

Sep 20217.4

Dec 20216.5

Mar 20227.5

Jun 20226.3

Sep 20225.7

Dec 20225.3

Mar 20234.5

Jun 20234.8

Sep 20235.8

Dec 20237.0

Mar 20247.5

Jun 20247.8

Sep 20248.4

Dec 20246.5

Mar 20257.2

Jun 20256.9

Sep 20257.2

Dec 20257.9

Mar 20269.2

Jun 20268.6

Gujarat Mineral Development Corporation Ltd · GMDCLTD

Sep 20218.4

Dec 20218.2

Mar 202213.7

Jun 20229.5

Sep 20225.7

Dec 20225.4

Mar 20234.1

Jun 20234.4

Sep 20239.3

Dec 202312.9

Mar 202412.8

Jun 202420.9

Sep 202420.3

Dec 202416.9

Mar 202513.0

Jun 202519.1

Sep 202528.1

Dec 202528.6

Mar 202628.8

Jun 202633.2

Indian Metals & Ferro Alloys Ltd · IMFA

Sep 20217.9

Dec 20217.2

Mar 20225.4

Jun 20222.7

Sep 20222.4

Dec 20223.4

Mar 20235.1

Jun 20237.5

Sep 202311.0

Dec 20239.7

Mar 20249.2

Jun 202411.7

Sep 202410.5

Dec 202411.9

Mar 20259.0

Jun 202511.0

Sep 202516.9

Dec 202523.2

Mar 202618.0

Jun 2026—

KIOCL Ltd · KIOCL

Sep 202129.2

Dec 202135.3

Mar 202243.1

Jun 202237.3

Sep 2022214.3

Dec 2022204.8

Mar 2023732.8

Jun 2023820.6

Sep 2023—

Dec 2023535.1

Mar 2024563.6

Jun 2024661.6

Sep 2024—

Dec 2024—

Mar 2025—

Jun 2025—

Sep 2025—

Dec 2025-331.2

Mar 20261,162.3

Jun 2026—

MOIL Ltd · MOIL⚠ unverified

Sep 202136.7

Dec 202138.6

Mar 202240.7

Jun 202232.7

Sep 202234.1

Dec 202236.8

Mar 202332.5

Jun 202337.1

Sep 202350.7

Dec 202370.5

Mar 202463.6

Jun 2024112.9

Sep 202491.3

Dec 202475.0

Mar 202573.7

Jun 202587.9

Sep 202580.9

Dec 202583.3

Mar 202662.9

Jun 2026—

Orissa Minerals Development Company Ltd · ORISSAMINE⚠ unverified

Sep 2021-248.8

Dec 2021—

Mar 2022—

Jun 2022—

Sep 20221,261.8

Dec 20221,183.3

Mar 2023-86.2

Jun 2023—

Sep 2023-147.1

Dec 2023-403.7

Mar 20241,258.6

Jun 2024—

Sep 2024334.4

Dec 2024298.1

Mar 2025635.9

Jun 2025630.8

Sep 2025880.6

Dec 2025987.6

Mar 2026—

Jun 2026—

South West Pinnacle Exploration Ltd · SOUTHWEST⚠ unverified

Sep 202126.5

Dec 202145.8

Mar 202262.8

Jun 202251.3

Sep 202237.5

Dec 202229.1

Mar 202332.4

Jun 202347.2

Sep 202349.9

Dec 202375.7

Mar 202431.6

Jun 202440.3

Sep 202436.5

Dec 202446.0

Mar 202531.5

Jun 202527.2

Sep 202522.6

Dec 202523.4

Mar 202620.6

Jun 202620.2

Vedanta Ltd · VEDL

Sep 20212.5

Dec 20212.4

Mar 20222.7

Jun 20221.6

Sep 20221.9

Dec 20222.5

Mar 20232.6

Jun 20233.5

Sep 20234.0

Dec 20238.5

Mar 20248.9

Jun 202416.6

Sep 202412.8

Dec 20246.0

Mar 20256.5

Jun 20254.3

Sep 20257.9

Dec 202513.7

Mar 202612.1

Jun 20266.2

11 · 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. 5 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.
5 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: Valuation have fewer than three usable current readings.

12 · 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 2026-07-31. 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 2026-07-31 · weekly price and relative-strength history

Derived metricsGrowth, changes and PEG 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 standing3 cross-checked · 5 unverified · 5 withheld, of 13 graded companies.

How a second data feed is admitted, and what happens when it disagrees

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.

13 · questions investors ask, short speakable answers

Mining/Minerals company comparison FAQs

These 24 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 2026-07-31. Nothing here is estimated, and none of it is a recommendation.

Is the Mining/Minerals sector outperforming NIFTY 500?

Mining/Minerals has outperformed NIFTY 500 by 38.2% over 52 weeks and 1.3% over 13 weeks. 6 of 12 covered companies beat NIFTY on Mansfield relative strength, while 4 of 12 beat the sector itself.

Which Mining/Minerals company is largest by revenue?

Coal India Ltd leads with revenue of ₹1,57,856 crore, based on 13 of 13 comparable companies through Jun 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 79.6/100 with 87% evidence confidence. The score prioritizes research; it is not a buy recommendation.

Which Mining/Minerals company has the lowest comparable PEG?

Indian Metals & Ferro Alloys Ltd has the lowest comparable PEG at 1.08, among 2 of 13 companies whose earnings and growth are steady enough for the ratio to mean anything.

How much history does this Mining/Minerals comparison include?

The page compares up to 20 reported quarters per company for fundamentals, returns 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.

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 ₹1,57,856 crore, ahead of Vedanta Ltd at ₹88,898 crore. That covers 13 of 13 companies with comparable reporting through Jun 2026.

Which Mining/Minerals company has the best profit margins?

Vedanta Ltd has the highest operating margin at 35%, 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 ₹31,187 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 PEG — where a LOWER number is cheaper — Indian Metals & Ferro Alloys Ltd screens cheapest at 1.08×. Only 2 of 13 companies have earnings and growth steady enough for the ratio to mean anything, 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.

Is the Mining/Minerals sector beating the market?

Mining/Minerals has outperformed NIFTY 500 by 38.2% over the last 52 weeks and 1.3% over 13 weeks, measured on an equal-weight index of its current members. Inside the sector, 6 of 12 covered companies are beating the market on their own. Sector strength does not transfer evenly to every stock in it.

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 79.6 out of 100 with 87% evidence confidence, from 30.6 points on growth and earnings, 19.3 on capital efficiency, 12.2 on valuation and 17.5 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, 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 ₹4,47,551 crore of combined market value. Coal India Ltd is the largest at ₹2,55,229 crore, about 57% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-08-05.

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 18.4×, 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 2026-08-05.

How is the Mining/Minerals sector performing?

6 of the 12 covered Mining/Minerals companies are beating NIFTY 500 on Mansfield relative strength. The sector itself is 38.2% ahead of NIFTY 500 over 52 weeks on an equal-weight index of its current members. Readings are as of 2026-08-05.

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.