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Last Updated: April 2, 2026, 3:00 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532181 | NSE: GMDCLTD

Gujarat Mineral Development Corporation Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹539.12Fairly Valued by 7.05%vs CMP ₹580.00

P/E (28.8) × ROE (10.9%) × BV (₹211.00) × DY (1.74%)

₹375.91Overvalued by 35.19%vs CMP ₹580.00
MoS: -54.3% (Negative)Confidence: 58/100 (Moderate)Models: 1 Under, 1 Fair, 7 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹632.2023%Fair (+9%)
Graham NumberEarnings₹384.1917%Over (-33.8%)
Earnings PowerEarnings₹189.6611%Over (-67.3%)
DCFCash Flow₹678.4911%Under (+17%)
Net Asset ValueAssets₹211.307%Over (-63.6%)
EV/EBITDAEnterprise₹221.339%Over (-61.8%)
Earnings YieldEarnings₹310.907%Over (-46.4%)
ROCE CapitalReturns₹19.447%Over (-96.6%)
Revenue MultipleRevenue₹89.616%Over (-84.6%)
Consensus (9 models)₹375.91100%Overvalued
Key Drivers: Wide model spread (₹19–₹678) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 17.3%

*Investments are subject to market risks

Investment Snapshot

51
Gujarat Mineral Development Corporation Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health68/100 · Strong
ROCE 14.1% GoodROE 10.9% AverageD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 4/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 0.15% (6mo) Slight increasePromoter holding at 74.0% Stable
Earnings Quality30/100 · Weak
OPM contracting (32% → 24%) DecliningWorking capital: 177 days Capital intensive
Quarterly Momentum60/100 · Moderate
Revenue (4Q): -1% YoY FlatProfit (4Q): +63% YoY StrongOPM: 13.0% (down 11.0% YoY) Margin pressure
Industry Rank35/100 · Weak
P/E 28.8 vs industry 15.4 Premium to peersROCE 14.1% vs industry 19.6% Average3Y sales CAGR: 1% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:00 am

Market Cap 18,454 Cr.
Current Price 580
Intrinsic Value₹375.91
High / Low 651/251
Stock P/E28.8
Book Value 211
Dividend Yield1.74 %
ROCE14.1 %
ROE10.9 %
Face Value 2.00
PEG Ratio1.67

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

View Share Price Target for Gujarat Mineral Development Corporation Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Gujarat Mineral Development Corporation Ltd 18,454 Cr. 580 651/25128.8 2111.74 %14.1 %10.9 % 2.00
Redington Ltd 15,827 Cr. 202 335/17711.3 1153.36 %18.9 %14.4 % 2.00
Gravita India Ltd 9,730 Cr. 1,318 2,170/1,29125.5 3060.48 %21.5 %21.2 % 2.00
MOIL Ltd 5,996 Cr. 295 406/24220.6 1331.91 %18.8 %14.7 % 10.0
Ashapura Minechem Ltd 4,646 Cr. 486 925/31612.2 1490.21 %18.6 %27.1 % 2.00
Industry Average51,564.31 Cr471.3415.4197.991.59%19.57%16.87%5.18

All Competitor Stocks of Gujarat Mineral Development Corporation Ltd

Quarterly Result

MetricSep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales 539855948766383564750818593653786733528
Expenses 368520559519332444562607453562593563458
Operating Profit 171336390247511211892111409219416969
OPM % 32%39%41%32%13%21%25%26%24%14%25%23%13%
Other Income 535723864776072606211411878583
Interest 12-01111111011
Depreciation 19212119182022212126272222
Profit before tax 205370608291109160238249181179285224629
Tax % 26%28%27%25%32%27%21%26%29%18%21%27%26%
Net Profit 15126644221975117187184128148226164466
EPS in Rs 4.768.3713.906.882.353.675.895.794.024.647.115.1514.65

Last Updated: January 1, 2026, 1:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 24, 2026, 7:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 1,2851,4341,1791,5372,0511,8801,4491,3262,7323,4982,4632,8512,626
Expenses 6689098901,1191,5831,3241,3231,3352,0112,1611,8532,2132,093
Operating Profit 617525289418468556126-107211,337609637533
OPM % 48%37%24%27%23%30%9%-1%26%38%25%22%20%
Other Income 137253156181121-70173-241158396271355880
Interest 0211222232322
Depreciation 1251381311511199692949881809593
Profit before tax 630637313447469388205-3477781,6497988951,318
Tax % 30%21%30%27%26%43%28%-89%43%27%25%23%
Net Profit 439501219325347220146-394461,204597686989
EPS in Rs 13.8115.756.8910.2210.906.914.61-1.2414.0237.8818.7821.5731.09
Dividend Payout % 22%19%44%29%32%29%43%-16%31%30%51%47%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)14.12%-56.29%48.40%6.77%-36.60%-33.64%-126.71%1243.59%169.96%-50.42%14.91%
Change in YoY Net Profit Growth (%)0.00%-70.41%104.69%-41.63%-43.37%2.96%-93.08%1370.30%-1073.63%-220.37%65.32%

Gujarat Mineral Development Corporation Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:14%
3 Years:1%
TTM:10%
Compounded Profit Growth
10 Years:5%
5 Years:36%
3 Years:15%
TTM:18%
Stock Price CAGR
10 Years:20%
5 Years:58%
3 Years:38%
1 Year:25%
Return on Equity
10 Years:10%
5 Years:13%
3 Years:14%
Last Year:11%

Last Updated: September 5, 2025, 5:35 am

Balance Sheet

Last Updated: December 10, 2025, 2:45 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 64646464646464646464646464
Reserves 2,7993,1803,6333,9374,2884,2544,0323,9714,7585,7226,0366,3486,659
Borrowings 0679000000123126278
Other Liabilities 1,0911,0451,0121,1201,0448949679331,0641,1661,2661,2141,268
Total Liabilities 3,9534,9664,7095,1215,3955,2115,0634,9685,8866,9537,3697,7528,269
Fixed Assets 1,8621,7711,7192,0752,1472,1312,0581,5851,5101,4541,5511,5532,002
CWIP 129583121111462328292741619
Investments 260121644657782429264299596491566484481
Other Assets 1,8182,1172,3142,3682,4562,6512,7373,0793,7564,9794,9604,9745,168
Total Assets 3,9534,9664,7095,1215,3955,2115,0634,9685,8866,9537,3697,7528,269

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 28710120445224114211564819331101,059
Cash from Investing Activity + -190-13-67-350-138238478-674-787254-808
Cash from Financing Activity + -111-111-115-115-97-134-77-64-7-137-365-183
Net Cash Flow -15-2322-136318170-1998-068
Free Cash Flow 9727205-63572-9144443908-366424
CFO/OP 87%61%126%140%95%61%127%-284%98%103%56%135%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow617.00-154.00289.00418.00468.00556.00126.00-10.00720.00-1.00606.00511.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 152130282029353927191511
Inventory Days
Days Payable
Cash Conversion Cycle 152130282029353927191511
Working Capital Days 258240356228178228271291153147228177
ROCE %23%16%8%12%11%14%5%1%18%31%13%14%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
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 3.82%3.08%1.89%1.76%1.82%1.60%1.68%1.94%2.15%2.25%3.32%2.30%
DIIs 1.65%1.51%1.00%0.89%0.75%1.00%0.78%0.75%0.76%0.79%0.76%0.86%
Government 0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.00%0.00%0.00%0.00%0.00%
Public 20.54%21.41%23.09%23.34%23.43%23.36%23.54%23.33%23.10%22.97%21.92%22.84%
No. of Shareholders 1,28,2571,31,6401,56,0021,79,0432,29,4632,41,7252,52,0242,51,8132,50,5382,27,8502,24,5582,37,220

Shareholding Pattern Chart

No. of Shareholders

Gujarat Mineral Development Corporation Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant PSU Fund 623,764 7.34 36.04N/AN/AN/A
Samco Special Opportunities Fund 54,564 2.35 3.15N/AN/AN/A
Samco Dynamic Asset Allocation Fund 29,930 0.74 1.734,2652026-02-23 00:08:01601.76%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 21.5719.4138.2312.74-1.24
Diluted EPS (Rs.) 21.5719.4138.2312.74-1.24
Cash EPS (Rs.) 24.6021.7840.7115.771.64
Book Value[Excl.RevalReserv]/Share (Rs.) 201.63192.33182.34149.90126.88
Book Value[Incl.RevalReserv]/Share (Rs.) 201.63192.33182.34149.90126.88
Revenue From Operations / Share (Rs.) 89.6577.45121.9089.9142.11
PBDIT / Share (Rs.) 31.2428.1954.7626.274.50
PBIT / Share (Rs.) 28.2425.7152.2123.191.54
PBT / Share (Rs.) 28.1725.6252.1423.12-10.99
Net Profit / Share (Rs.) 21.6019.3138.1512.69-1.32
NP After MI And SOA / Share (Rs.) 21.5719.4138.2312.73-1.24
PBDIT Margin (%) 34.8436.3944.9229.2110.69
PBIT Margin (%) 31.4933.1942.8225.783.65
PBT Margin (%) 31.4233.0842.7725.71-26.10
Net Profit Margin (%) 24.0924.9231.2914.11-3.13
NP After MI And SOA Margin (%) 24.0525.0631.3614.16-2.93
Return on Networth / Equity (%) 10.6910.0920.968.49-0.97
Return on Capital Employeed (%) 12.4311.9925.8313.421.06
Return On Assets (%) 8.848.3717.566.84-0.79
Long Term Debt / Equity (X) 0.010.000.000.000.00
Total Debt / Equity (X) 0.010.000.000.000.00
Asset Turnover Ratio (%) 0.370.340.600.520.26
Current Ratio (X) 4.724.744.093.964.79
Quick Ratio (X) 4.544.543.873.744.51
Inventory Turnover Ratio (X) 28.820.000.000.000.00
Dividend Payout Ratio (NP) (%) 44.2858.9811.241.57-161.64
Dividend Payout Ratio (CP) (%) 38.8752.3110.541.26115.91
Earning Retention Ratio (%) 55.7241.0288.7698.43261.64
Cash Earning Retention Ratio (%) 61.1347.6989.4698.74-15.91
Interest Coverage Ratio (X) 455.65306.58763.59391.5973.16
Interest Coverage Ratio (Post Tax) (X) 316.10210.99533.01190.15182.18
Enterprise Value (Cr.) 7978.2310425.633926.215947.451492.97
EV / Net Operating Revenue (X) 2.804.231.012.081.11
EV / EBITDA (X) 8.0311.632.257.1210.43
MarketCap / Net Operating Revenue (X) 2.964.441.042.111.31
Retention Ratios (%) 55.7141.0188.7598.42261.64
Price / BV (X) 1.321.790.691.270.43
Price / Net Operating Revenue (X) 2.964.441.042.111.31
EarningsYield 0.080.050.300.06-0.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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 is involved in the business activities of Opencast mining of lignite (brown coal). Company's Total Operating Revenue is Rs. 2850.84 Cr. and Equity Capital is Rs. 63.60 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Mining/MineralsKhanij Bhavan, Ahmedabad Gujarat 380052Contact not found
Management
NamePosition Held
Dr. Hasmukh AdhiaChairman
Mr. Roopwant SinghManaging Director
Ms. Arti KanwarDirector
Mrs. Mamta VermaDirector
Prof. Shailesh GandhiIndependent Director
Mrs. Gauri KumarIndependent Director
Dr. Sharvil PatelIndependent Director
Mr. Rajinder KhannaIndependent Director

FAQ

What is the intrinsic value of Gujarat Mineral Development Corporation Ltd and is it undervalued?

As of 09 April 2026, Gujarat Mineral Development Corporation Ltd's intrinsic value is ₹375.91, which is 35.19% lower than the current market price of ₹580.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (10.9 %), book value (₹211), dividend yield (1.74 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Gujarat Mineral Development Corporation Ltd?

Gujarat Mineral Development Corporation Ltd is trading at ₹580.00 as of 09 April 2026, with a FY2026-2027 high of ₹651 and low of ₹251. The stock is currently near its 52-week high. Market cap stands at ₹18,454 Cr..

How does Gujarat Mineral Development Corporation Ltd's P/E ratio compare to its industry?

Gujarat Mineral Development Corporation Ltd has a P/E ratio of 28.8, which is above the industry average of 15.41. The premium over industry average may reflect growth expectations or speculative interest.

Is Gujarat Mineral Development Corporation Ltd financially healthy?

Key indicators for Gujarat Mineral Development Corporation Ltd: ROCE of 14.1 % is moderate. Dividend yield is 1.74 %.

Is Gujarat Mineral Development Corporation Ltd profitable and how is the profit trend?

Gujarat Mineral Development Corporation Ltd reported a net profit of ₹686 Cr in Mar 2025 on revenue of ₹2,851 Cr. Compared to ₹446 Cr in Mar 2022, the net profit shows an improving trend.

Does Gujarat Mineral Development Corporation Ltd pay dividends?

Gujarat Mineral Development Corporation Ltd has a dividend yield of 1.74 % at the current price of ₹580.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Gujarat Mineral Development Corporation Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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