Gujarat Mineral Development Corporation Ltd

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Gujarat Mineral Development Corporation Ltd

₹ 402 3.02%
23 Apr - close price
gmdcltd.com BSE: 532181 NSE : GMDCLTD
About

Gujarat Mineral Development Corporation is primarily engaged in 2 sectors i.e. mining and power.[1] Its projects include Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind and Solar.[2]

Key Points

Minerals & Metals
The company mines and extracts different minerals and metals such as lignite, bauxite, fluorspar, manganese, silica sand, limestone, bentonite and ball clay [1] from various districts in Gujarat such as Kutch, Surat, Baroda, Rajkot, Jamnagar, Porbandar, Amreli, Bhavnagar and others. [2]

Website BSE NSE
  • Market Cap ₹ 12,795 Cr.
  • Current Price ₹ 402
  • High / Low ₹ 506 / 133
  • Stock P/E 14.9
  • Book Value ₹ 182
  • Dividend Yield 2.84 %
  • ROCE 31.5 %
  • ROE 23.0 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 23.1% CAGR over last 5 years
  • Debtor days have improved from 29.0 to 19.7 days.
  • Company's working capital requirements have reduced from 197 days to 149 days

Cons

  • Earnings include an other income of Rs.434 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Mining & Mineral products Industry: Mining / Minerals / Metals

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
329 566 498 452 725 1,057 1,155 539 855 952 766 383 564
367 533 467 425 522 638 714 368 520 551 519 330 443
Operating Profit -38 33 32 27 202 420 441 171 336 401 247 53 121
OPM % -12% 6% 6% 6% 28% 40% 38% 32% 39% 42% 32% 14% 21%
40 -354 34 42 39 40 47 53 56 236 61 77 60
Interest 0 0 1 1 1 1 1 1 2 1 1 1 1
Depreciation 23 28 21 20 21 36 21 19 21 20 19 18 20
Profit before tax -21 -349 44 49 220 423 466 204 369 616 288 111 161
Tax % 82% 47% 15% 16% 32% 58% 26% 26% 28% 27% 25% 31% 27%
-4 -185 38 41 150 176 345 151 265 451 216 76 117
EPS in Rs -0.12 -5.83 1.18 1.29 4.71 5.53 10.85 4.74 8.34 14.17 6.78 2.40 3.69
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,627 1,670 1,285 1,413 1,179 1,537 2,051 1,880 1,449 1,329 2,732 3,501 2,664
866 784 668 891 879 1,116 1,499 1,319 1,321 1,332 2,009 2,153 1,842
Operating Profit 760 886 617 522 300 421 552 560 128 -3 723 1,348 822
OPM % 47% 53% 48% 37% 25% 27% 27% 30% 9% -0% 26% 38% 31%
73 135 137 253 151 179 119 -155 169 -245 155 392 434
Interest 7 0 0 2 1 1 2 2 2 2 3 2 2
Depreciation 108 117 125 137 131 151 119 96 92 94 98 81 78
Profit before tax 718 904 630 636 318 447 551 307 203 -344 777 1,657 1,176
Tax % 32% 34% 30% 21% 29% 27% 22% 55% 29% 89% 43% 27%
487 601 439 500 225 325 428 139 145 -37 445 1,212 860
EPS in Rs 15.31 18.89 13.81 15.73 7.06 10.23 13.47 4.36 4.56 -1.16 14.00 38.13 27.04
Dividend Payout % 20% 16% 22% 19% 42% 29% 26% 46% 44% -17% 31% 30%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 34%
TTM: -26%
Compounded Profit Growth
10 Years: 7%
5 Years: 23%
3 Years: 103%
TTM: -8%
Stock Price CAGR
10 Years: 11%
5 Years: 41%
3 Years: 95%
1 Year: 202%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 15%
Last Year: 23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 64 64 64 64 64 64 64 64 64 64 64 64 64
Reserves 1,982 2,471 2,799 3,178 3,601 3,905 4,337 4,222 3,999 3,969 4,722 5,696 5,716
0 0 0 0 0 0 0 0 0 1 1 0 1
1,175 1,175 1,090 947 1,012 1,119 1,044 891 967 905 1,063 1,124 1,040
Total Liabilities 3,220 3,710 3,952 4,188 4,676 5,088 5,444 5,177 5,030 4,938 5,849 6,884 6,820
1,758 1,780 1,862 1,756 1,717 2,073 2,145 2,129 2,056 1,583 1,508 1,451 1,429
CWIP 6 24 11 46 31 21 11 1 4 6 23 23 401
Investments 133 183 260 299 644 657 863 426 259 292 587 479 568
1,324 1,723 1,818 2,087 2,284 2,337 2,426 2,620 2,710 3,057 3,731 4,931 4,422
Total Assets 3,220 3,710 3,952 4,188 4,676 5,088 5,444 5,177 5,030 4,938 5,849 6,884 6,820

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
562 220 286 92 208 457 325 143 6 149 483 934
-287 -109 -190 -13 -70 -352 -220 21 82 85 -675 -788
-253 -111 -112 -111 -115 -115 -97 -134 -77 -63 -7 -137
Net Cash Flow 21 0 -15 -33 23 -10 8 30 11 172 -199 8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 10 9 15 21 30 28 20 29 35 40 27 20
Inventory Days
Days Payable
Cash Conversion Cycle 10 9 15 21 30 28 20 29 35 40 27 20
Working Capital Days 104 149 259 254 358 228 178 228 271 290 153 149
ROCE % 38% 40% 23% 17% 9% 12% 13% 14% 5% 1% 18% 31%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00% 74.00%
1.31% 1.29% 1.71% 2.93% 3.61% 3.67% 4.07% 3.82% 3.08% 1.89% 1.76% 1.82%
2.50% 0.86% 2.50% 2.66% 2.11% 1.93% 1.72% 1.65% 1.51% 1.00% 0.89% 0.75%
0.04% 0.04% 0.04% 0.05% 0.05% 0.00% 0.05% 0.00% 0.00% 0.00% 0.00% 0.00%
22.15% 23.81% 21.75% 20.36% 20.23% 20.40% 20.15% 20.54% 21.41% 23.09% 23.34% 23.43%
No. of Shareholders 1,11,8431,08,6811,05,8991,10,2241,29,1711,30,6361,28,7211,28,2571,31,6401,56,0021,79,0432,29,463

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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