Gujarat Mineral Development Corporation Ltd

Gujarat Mineral Development Corporation is a holding company. The Company operates through two segments: Mining and Power. The Company's projects include Lignite, Bauxite, Fluorspar, Multi-Metal, Manganese, Power, Wind and Solar.

Pros:
Company is virtually debt free.
Stock is trading at 0.53 times its book value
Stock is providing a good dividend yield of 4.92%.
Company has been maintaining a healthy dividend payout of 32.48%
Cons:
The company has delivered a poor growth of 4.20% over past five years.
Company has a low return on equity of 8.59% for last 3 years.

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

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Jun 2016 Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019
410 248 380 544 583 346 506 635 645 294 410 530
271 182 314 395 400 245 375 500 390 218 349 361
Operating Profit 139 66 66 149 183 101 131 135 255 76 61 169
OPM % 34% 27% 17% 27% 31% 29% 26% 21% 39% 26% 15% 32%
Other Income 48 58 45 28 26 31 26 37 30 -260 35 40
Interest 0 0 0 0 0 0 0 0 0 0 0 1
Depreciation 32 34 42 44 39 37 38 -1 28 17 23 28
Profit before tax 155 90 68 133 170 95 119 173 256 -202 73 180
Tax % 26% 19% 32% 32% 16% -19% 34% 42% 27% -10% 31% 31%
Net Profit 115 73 47 90 143 113 79 100 187 -222 50 124
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 TTM
589 980 977 1,065 1,415 1,627 1,670 1,285 1,413 1,179 1,537 2,051 1,880
308 447 522 583 764 866 800 668 892 879 1,116 1,501 1,319
Operating Profit 281 533 455 482 651 760 870 617 522 300 421 550 560
OPM % 48% 54% 47% 45% 46% 47% 52% 48% 37% 25% 27% 27% 30%
Other Income 90 41 46 36 39 73 151 137 253 151 179 120 -155
Interest 74 70 54 26 15 7 0 0 2 1 1 2 2
Depreciation 129 96 78 86 90 108 117 125 137 131 151 112 96
Profit before tax 168 408 370 406 585 718 904 630 636 318 447 557 307
Tax % 44% 35% 37% 31% 36% 32% 34% 30% 21% 29% 27% 22%
Net Profit 94 264 231 280 375 487 601 439 500 225 325 435 139
EPS in Rs 2.80 8.13 6.94 8.38 11.31 14.82 18.38 13.30 15.12 6.45 10.23 13.67
Dividend Payout % 34% 12% 27% 28% 25% 20% 16% 22% 19% 42% 29% 26%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:7.66%
5 Years:4.20%
3 Years:13.22%
TTM:-9.19%
Compounded Profit Growth
10 Years:5.14%
5 Years:-6.36%
3 Years:0.52%
TTM:-68.07%
Return on Equity
10 Years:15.07%
5 Years:10.74%
3 Years:8.59%
Last Year:10.38%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
32 32 64 64 64 64 64 64 64 64 64 64 64
Reserves 807 1,030 1,155 1,342 1,606 1,982 2,471 2,799 3,178 3,601 3,905 4,338 4,222
Borrowings 960 664 479 216 52 0 0 0 0 0 0 0 0
902 1,053 1,192 1,380 964 1,261 1,262 1,194 1,038 1,149 1,274 1,249 886
Total Liabilities 2,700 2,779 2,889 3,001 2,686 3,306 3,796 4,057 4,280 4,813 5,242 5,650 5,172
1,371 1,343 1,308 1,341 1,517 1,758 1,780 1,862 1,756 1,717 2,073 2,178 2,129
CWIP 33 13 2 10 19 6 24 11 46 31 21 11 1
Investments 61 61 59 133 133 133 183 260 299 644 657 863 426
1,235 1,362 1,520 1,518 1,017 1,410 1,809 1,923 2,179 2,421 2,491 2,598 2,615
Total Assets 2,700 2,779 2,889 3,001 2,686 3,306 3,796 4,057 4,280 4,813 5,242 5,650 5,172

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
244 468 247 559 389 562 220 286 92 208 457 343
-24 -11 -4 -190 -257 -287 -109 -190 -13 -70 -352 -220
-203 -403 -277 -369 -193 -253 -111 -112 -111 -115 -115 -115
Net Cash Flow 17 54 -33 1 -61 21 0 -15 -33 23 -10 8

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2007 Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018
ROCE % 13% 27% 25% 26% 36% 38% 40% 23% 17% 9% 12% 13%
Debtor Days 58 30 35 17 7 10 9 15 21 30 28 20
Inventory Turnover 13.97 25.26 18.18 16.16 20.12 23.46 29.02 26.03 25.06 21.75 24.55 26.89