Gujarat Mineral Development Corporation Ltd

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Gujarat Mineral Development Corporation Ltd

₹ 388 1.04%
19 Apr 4:01 p.m.
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 ₹ 12,335 Cr.
  • Current Price ₹ 388
  • High / Low ₹ 506 / 132
  • Stock P/E 14.4
  • Book Value ₹ 183
  • Dividend Yield 3.00 %
  • ROCE 31.3 %
  • ROE 22.9 %
  • Face Value ₹ 2.00
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Pros

  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.08%.
  • Company has delivered good profit growth of 28.5% 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.440 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

Consolidated Figures in Rs. Crores / View Standalone

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
368 534 468 426 523 595 715 368 520 551 519 332 444
Operating Profit -39 32 31 26 201 462 441 171 336 401 247 51 121
OPM % -12% 6% 6% 6% 28% 44% 38% 32% 39% 42% 32% 13% 21%
42 -352 35 43 40 40 48 53 57 238 64 77 60
Interest 0 0 1 1 1 2 1 1 2 1 1 1 1
Depreciation 23 28 21 20 21 36 21 19 21 20 19 18 20
Profit before tax -20 -349 45 49 220 465 467 205 370 618 291 109 160
Tax % 86% 47% 15% 17% 32% 53% 26% 26% 28% 27% 25% 32% 27%
-3 -185 38 40 150 218 345 151 266 452 219 75 117
EPS in Rs -0.09 -5.81 1.19 1.27 4.71 6.85 10.85 4.76 8.37 14.22 6.88 2.35 3.67
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 1,434 1,179 1,537 2,051 1,880 1,449 1,329 2,732 3,501 2,664
866 784 668 909 890 1,119 1,583 1,324 1,323 1,335 2,011 2,154 1,845
Operating Profit 760 886 617 525 289 418 468 556 126 -6 721 1,348 819
OPM % 47% 53% 48% 37% 24% 27% 23% 30% 9% -0% 26% 38% 31%
73 135 137 253 156 181 121 -70 173 -241 158 396 440
Interest 7 0 0 2 1 1 2 2 2 2 3 2 2
Depreciation 108 117 125 138 131 151 119 96 92 94 98 81 78
Profit before tax 718 904 630 637 313 447 469 388 205 -343 778 1,660 1,178
Tax % 32% 34% 30% 21% 30% 27% 26% 43% 28% 90% 43% 27%
487 601 439 501 219 325 347 220 146 -36 446 1,216 862
EPS in Rs 15.31 18.89 13.81 15.75 6.89 10.22 10.90 6.91 4.61 -1.12 14.02 38.23 27.12
Dividend Payout % 20% 16% 22% 19% 44% 29% 32% 29% 43% -18% 31% 30%
Compounded Sales Growth
10 Years: 8%
5 Years: 11%
3 Years: 34%
TTM: -26%
Compounded Profit Growth
10 Years: 7%
5 Years: 29%
3 Years: 103%
TTM: -12%
Stock Price CAGR
10 Years: 11%
5 Years: 39%
3 Years: 93%
1 Year: 185%
Return on Equity
10 Years: 11%
5 Years: 11%
3 Years: 15%
Last Year: 23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 3,180 3,633 3,937 4,288 4,254 4,032 4,003 4,758 5,735 5,756
0 0 0 679 0 0 0 0 0 1 1 0 1
1,175 1,175 1,091 1,045 1,012 1,120 1,044 894 967 905 1,064 1,124 1,041
Total Liabilities 3,220 3,710 3,953 4,966 4,709 5,121 5,395 5,211 5,063 4,973 5,886 6,923 6,861
1,758 1,780 1,862 1,771 1,719 2,075 2,147 2,131 2,058 1,585 1,510 1,453 1,431
CWIP 6 24 12 958 31 21 11 1 4 6 23 23 401
Investments 133 183 260 121 644 657 782 429 264 299 596 491 580
1,324 1,723 1,818 2,117 2,314 2,368 2,456 2,651 2,737 3,083 3,756 4,956 4,448
Total Assets 3,220 3,710 3,953 4,966 4,709 5,121 5,395 5,211 5,063 4,973 5,886 6,923 6,861

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
562 220 287 101 204 452 241 142 1 147 481 932
-287 -109 -190 -13 -67 -350 -138 23 84 87 -674 -786
-253 -111 -111 -111 -115 -115 -97 -134 -77 -63 -7 -137
Net Cash Flow 21 0 -15 -23 22 -13 6 31 8 170 -199 8

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 104 149 258 243 356 228 178 228 271 290 153 149
ROCE % 38% 40% 23% 16% 8% 12% 11% 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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