Gujarat Mineral Development Corporation Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:29 am

Market Cap	10,367 Cr.
Current Price	326
High / Low	506/309
Stock P/E	16.3
Book Value	195
Dividend Yield	2.93 %
ROCE	13.8 %
ROE	10.4 %
Face Value	2.00
PEG Ratio	0.20

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
Ganesha Ecoverse Ltd	114 Cr.	46.2	71.9/42.8	20.9	4.29	0.00 %	28.2 %	39.4 %	10.0
Foundry Fuel Products Ltd	5.71 Cr.	7.12	14.6/5.10		1.35	0.00 %	%	%	10.0
Deccan Gold Mines Ltd	1,781 Cr.	116	179/88.5		14.3	0.00 %	8.77 %	34.8 %	1.00
Asi Industries Ltd	482 Cr.	53.5	65.9/20.2	17.9	35.9	0.65 %	10.1 %	7.47 %	1.00
Anmol India Ltd	152 Cr.	26.6	65.9/26.5	11.3	18.4	0.00 %	14.9 %	23.6 %	10.0
Industry Average	36,392.80 Cr	750.61		40.61	78.77	1.70%	21.11%	21.07%	5.18

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	498	452	725	1,057	1,155	539	855	948	766	383	564	751	818
Expenses	468	426	523	595	715	368	520	559	519	332	444	545	607
Operating Profit	31	26	201	462	441	171	336	390	247	51	121	205	211
OPM %	6%	6%	28%	44%	38%	32%	39%	41%	32%	13%	21%	27%	26%
Other Income	35	43	40	40	48	53	57	238	64	77	60	74	60
Interest	1	1	1	2	1	1	2	-0	1	1	1	1	1
Depreciation	21	20	21	36	21	19	21	21	19	18	20	21	21
Profit before tax	45	49	220	465	467	205	370	608	291	109	160	257	249
Tax %	15%	17%	32%	53%	26%	26%	28%	27%	25%	32%	27%	20%	26%
Net Profit	38	40	150	218	345	151	266	442	219	75	117	207	184
EPS in Rs	1.19	1.27	4.71	6.85	10.85	4.76	8.37	13.90	6.88	2.35	3.67	6.51	5.79

Last Updated: September 16, 2024, 1:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 16, 2024, 1:17 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	1,670	1,285	1,434	1,179	1,537	2,051	1,880	1,449	1,329	2,732	3,498	2,463	2,516
Expenses	784	668	909	890	1,119	1,583	1,324	1,323	1,335	2,011	2,161	1,837	1,927
Operating Profit	886	617	525	289	418	468	556	126	-6	721	1,337	626	588
OPM %	53%	48%	37%	24%	27%	23%	30%	9%	-0%	26%	38%	25%	23%
Other Income	135	137	253	156	181	121	-70	173	-241	158	396	273	271
Interest	0	0	2	1	1	2	2	2	2	3	2	3	3
Depreciation	117	125	138	131	151	119	96	92	94	98	81	79	81
Profit before tax	904	630	637	313	447	469	388	205	-343	778	1,649	818	776
Tax %	34%	30%	21%	30%	27%	26%	43%	28%	-90%	43%	27%	25%
Net Profit	601	439	501	219	325	347	220	146	-36	446	1,204	617	583
EPS in Rs	18.89	13.81	15.75	6.89	10.22	10.90	6.91	4.61	-1.12	14.02	37.88	19.41	18.32
Dividend Payout %	16%	22%	19%	44%	29%	32%	29%	43%	-18%	31%	30%	49%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-26.96%	14.12%	-56.29%	48.40%	6.77%	-36.60%	-33.64%	-124.66%	1338.89%	169.96%	-48.75%
Change in YoY Net Profit Growth (%)	0.00%	41.08%	-70.41%	104.69%	-41.63%	-43.37%	2.96%	-91.02%	1463.55%	-1168.93%	-218.71%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	6%
3 Years:	23%
TTM:	-8%

Compounded Profit Growth
10 Years:	4%
5 Years:	13%
3 Years:	17%
TTM:	-37%

Stock Price CAGR
10 Years:	10%
5 Years:	40%
3 Years:	67%
1 Year:	-20%

Return on Equity
10 Years:	10%
5 Years:	12%
3 Years:	14%
Last Year:	10%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 11:37 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	64	64	64	64	64	64	64	64	64	64	64	64	64
Reserves	2,471	2,799	3,180	3,633	3,937	4,288	4,254	4,032	4,003	4,758	5,722	6,052	6,131
Borrowings	0	0	679	0	0	0	0	0	1	1	2	3	3
Other Liabilities	1,175	1,091	1,045	1,012	1,120	1,044	894	967	905	1,064	1,166	1,249	1,150
Total Liabilities	3,710	3,953	4,966	4,709	5,121	5,395	5,211	5,063	4,973	5,886	6,953	7,368	7,347
Fixed Assets	1,780	1,862	1,771	1,719	2,075	2,147	2,131	2,058	1,585	1,510	1,454	1,552	1,803
CWIP	24	12	958	31	21	11	1	4	6	23	28	291	251
Investments	183	260	121	644	657	782	429	264	299	596	491	568	644
Other Assets	1,723	1,818	2,117	2,314	2,368	2,456	2,651	2,737	3,083	3,756	4,979	4,957	4,650
Total Assets	3,710	3,953	4,966	4,709	5,121	5,395	5,211	5,063	4,973	5,886	6,953	7,368	7,347

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	220	287	101	204	452	241	142	1	147	481	933	109
Cash from Investing Activity +	-109	-190	-13	-67	-350	-138	23	84	87	-674	-787	238
Cash from Financing Activity +	-111	-111	-111	-115	-115	-97	-134	-77	-63	-7	-137	-365
Net Cash Flow	0	-15	-23	22	-13	6	31	8	170	-199	8	-18

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	886.00	617.00	-154.00	289.00	418.00	468.00	556.00	126.00	-7.00	720.00	-1.00	623.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	9	15	21	30	28	20	29	35	40	27	19	15
Inventory Days
Days Payable
Cash Conversion Cycle	9	15	21	30	28	20	29	35	40	27	19	15
Working Capital Days	149	258	243	356	228	178	228	271	290	153	147	229
ROCE %	40%	23%	16%	8%	12%	11%	14%	5%	1%	18%	31%	14%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoters	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%	74.00%
FIIs	1.71%	2.93%	3.61%	3.67%	4.07%	3.82%	3.08%	1.89%	1.76%	1.82%	1.60%	1.68%
DIIs	2.50%	2.66%	2.11%	1.93%	1.72%	1.65%	1.51%	1.00%	0.89%	0.75%	1.00%	0.78%
Government	0.04%	0.05%	0.05%	0.00%	0.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.05%	0.00%
Public	21.75%	20.36%	20.23%	20.40%	20.15%	20.54%	21.41%	23.09%	23.34%	23.43%	23.36%	23.54%
No. of Shareholders	1,05,899	1,10,224	1,29,171	1,30,636	1,28,721	1,28,257	1,31,640	1,56,002	1,79,043	2,29,463	2,41,725	2,52,024

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India Nifty Smallcap 250 Index Fund	79,204	0.16	2.92	79,204	2024-12-18	0%
Motilal Oswal Nifty Smallcap 250 Index Fund	36,161	0.16	1.33	79,204	2024-12-18	-54.34%
Motilal Oswal Nifty 500 Index Fund	8,668	0.02	0.32	79,204	2024-12-18	-89.06%
ICICI Prudential BSE 500 ETF	1,264	0.02	0.05	79,204	2024-12-18	-98.4%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	2.00	2.00	2.00	2.00
Basic EPS (Rs.)	19.41	38.23	12.74	-1.24	4.61
Diluted EPS (Rs.)	19.41	38.23	12.74	-1.24	4.61
Cash EPS (Rs.)	21.78	40.71	15.77	1.64	7.42
Book Value[Excl.RevalReserv]/Share (Rs.)	192.33	182.34	149.90	126.88	128.81
Book Value[Incl.RevalReserv]/Share (Rs.)	192.33	182.34	149.90	126.88	128.81
Revenue From Operations / Share (Rs.)	77.45	121.90	89.91	42.11	47.83
PBDIT / Share (Rs.)	28.19	54.76	26.27	4.50	9.32
PBIT / Share (Rs.)	25.71	52.21	23.19	1.54	6.44
PBT / Share (Rs.)	25.62	52.14	23.12	-10.99	6.38
Net Profit / Share (Rs.)	19.31	38.15	12.69	-1.32	4.54
NP After MI And SOA / Share (Rs.)	19.41	38.23	12.73	-1.24	4.61
PBDIT Margin (%)	36.39	44.92	29.21	10.69	19.48
PBIT Margin (%)	33.19	42.82	25.78	3.65	13.45
PBT Margin (%)	33.08	42.77	25.71	-26.10	13.33
Net Profit Margin (%)	24.92	31.29	14.11	-3.13	9.50
NP After MI And SOA Margin (%)	25.06	31.36	14.16	-2.93	9.63
Return on Networth / Equity (%)	10.09	20.96	8.49	-0.97	3.57
Return on Capital Employeed (%)	11.99	25.83	13.42	1.06	4.30
Return On Assets (%)	8.37	17.56	6.84	-0.79	2.89
Asset Turnover Ratio (%)	0.34	0.60	0.52	0.26	0.29
Current Ratio (X)	4.74	4.09	3.96	4.79	4.93
Quick Ratio (X)	4.54	3.87	3.74	4.51	4.61
Dividend Payout Ratio (NP) (%)	58.98	11.24	1.57	-161.64	43.41
Dividend Payout Ratio (CP) (%)	52.31	10.54	1.26	115.91	26.71
Earning Retention Ratio (%)	41.02	88.76	98.43	261.64	56.59
Cash Earning Retention Ratio (%)	47.69	89.46	98.74	-15.91	73.29
Interest Coverage Ratio (X)	306.58	763.59	391.59	73.16	157.48
Interest Coverage Ratio (Post Tax) (X)	210.99	533.01	190.15	182.18	77.81
Enterprise Value (Cr.)	10425.63	3926.21	5947.45	1492.97	901.82
EV / Net Operating Revenue (X)	4.23	1.01	2.08	1.11	0.59
EV / EBITDA (X)	11.63	2.25	7.12	10.43	3.04
MarketCap / Net Operating Revenue (X)	4.44	1.04	2.11	1.31	0.65
Retention Ratios (%)	41.01	88.75	98.42	261.64	56.58
Price / BV (X)	1.79	0.69	1.27	0.43	0.24
Price / Net Operating Revenue (X)	4.44	1.04	2.11	1.31	0.65
EarningsYield	0.05	0.30	0.06	-0.02	0.14

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 22, 2024 is: 340.25

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 22, 2024, is Undervalued by 4.37% compared to the current share price 326.00

Intrinsic Value of as of December 22, 2024 is: 622.15

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 22, 2024, is Undervalued by 90.84% compared to the current share price 326.00

Last 5 Year EPS CAGR: 82.85%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 16.08%, which is a positive sign. The company has higher reserves (4,250.77 cr) compared to borrowings (53.00 cr), indicating strong financial stability. The company has shown consistent growth in sales (1.46 cr) and profit (463.31 cr) over the years.	The stock has a high average Working Capital Days of 227.50, which may not be favorable. The stock has a high average Cash Conversion Cycle of 24.00, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 24.92%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 11.99% (Industry Average ROCE: 21.11%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 10.09% (Industry Average ROE: 21.07%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 210.99
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 4.54
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 16.3 (Industry average Stock P/E: 40.61)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Gujarat Mineral Development Corporation Ltd. is a Public Limited Listed company incorporated on 15/05/1963 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L14100GJ1963SGC001206 and registration number is 001206. Currently company belongs to the Industry of Mining/Minerals. Company’s Total Operating Revenue is Rs. 2858.01 Cr. and Equity Capital is Rs. 63.60 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Mining/Minerals	Khanij Bhavan, Ahmedabad Gujarat 380052	cosec@gmdcltd.com http://www.gmdcltd.com

Management
Name	Position Held
Dr. Hasmukh Adhia	Chairman
Mr. Roopwant Singh	Managing Director
Mr. S J Haider	Director
Ms. Arti Kanwar	Director
Mr. S B Dangayach	Independent Director
Mr. Nitin Shukla	Independent Director
Mrs. Gauri Kumar	Independent Director
Prof. Shailesh Gandhi	Independent Director

FAQ

What is the latest intrinsic value of ?

The latest intrinsic value of as on 22 December 2024 is ₹340.25, which is 4.37% higher than the current market price of ₹326.00. The stock has a market capitalization of 10,367 Cr. and recorded a high/low of 506/309 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹6,131 Cr and total liabilities of ₹7,347 Cr.

What is the Market Cap of ?

The Market Cap of is 10,367 Cr..

What is the current Stock Price of as on 22 December 2024?

The current stock price of as on 22 December 2024 is 326.

What is the High / Low of stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of stocks is 506/309.

What is the Stock P/E of ?

The Stock P/E of is 16.3.

What is the Book Value of ?

The Book Value of is 195.

What is the Dividend Yield of ?

The Dividend Yield of is 2.93 %.

What is the ROCE of ?

The ROCE of is 13.8 %.

What is the ROE of ?

The ROE of is 10.4 %.

What is the Face Value of ?

The Face Value of is 2.00.