Gujarat Mineral Development Corporation Ltd.

NSE: GMDCLTD | BSE: 532181

Strong Performer, Getting Expensive

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607.60 11.90 (2.00%)

High vol.+gain this week

NSE 31 Dec, 2025 1:44 PM (IST)

19,321.7

Market Cap

Below industry Median

Beta 1Year

Very High Volatility

Gujarat Mineral Development Corporation Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for GMDCLTD, BSE:532181 Gujarat Mineral Development Corporation Ltd.

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Gujarat Mineral Development Corporation Ltd.

30 Jul 2025, 12:00AM

607.60

2.00%

Investment Rationale

Buy: Gujarat Mineral Developmen...

Mastertrust Broking & Investments

In April 2025, China restricted rare earth exports, affecting Indian firms like Mahle, Bosch, TVS, Uno Minda, and Sona Comstar. These materials are vital for EVs and defense due to their use in high-strength permanent magnets. India, with 6.9% of global reserves, has launched a self-reliance push supported by incentive schemes.

Gujarat Mineral has gained 92.25% in the last 1 Year

Gujarat Mineral Development Corporation Ltd.

15 Jun 2022

607.60

2.00%

Gujarat Mineral Development Corporation Ltd (GMDC)

Buy: Gujarat Mineral Developmen...

AUM Capital

Gujarat Mineral has gained 92.25% in the last 1 Year

Gujarat Mineral Development Corporation Ltd.

08 Aug 2019

607.60

2.00%

Gujarat Mineral Development Corporation Ltd:Lower Off-take in Lignite Impacted Operating Performance

Hold: Gujarat Mineral Developmen...

Recommendation Target

Karvy

Gujarat Mineral Development Corporation (GMDC) in Q1FY20 has posted 26.2% decline in its sales volume of lignite to 2.293 Mn as against 3.107 Mn in Q1FY19 on YoY basis.

Gujarat Mineral has gained 47.57% in the last 6 Months

Gujarat Mineral Development Corporation Ltd.

13 May 2019

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: Stronger Q4FY19 but Yearly Performance Impacted by Volume

Buy: Gujarat Mineral Developmen...

Target

Karvy

Gujarat Mineral Development Corporation Limited has posted stronger set of standalone numbers for Q4FY19 on the back of 26% rise in volume to 2.66 Mn tonnes as against 2.104 Mn tonnes in previous quarter.

Gujarat Mineral Deve.. has an average target of 500.00 from 1 broker.

Gujarat Mineral Development Corporation Ltd.

02 Nov 2018

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: Weaker Quarter; Better Realization to Drive the Growth

Buy: Gujarat Mineral Developmen...

Target

Karvy

Weaker Quarter; Better Realization to Drive the Growth: GMDC Ltd. has posted weak result for Q2FY19 wherein sales at Rs. 2940 Mn hasde-grown by 54.4% on QoQ and 15.0% on YoY basis as against our estimates of 34.3% de-growth on QoQ and 23.0% growth on YoY basis.

Gujarat Mineral has gained 92.25% in the last 1 Year

Gujarat Mineral Development Corporation Ltd.

13 Aug 2018

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: Robust Demand f...

Buy: Gujarat Mineral Developmen...

Karvy

Robust Demand for Lignite is in Place: Continuing with its good operating performance, GMDC in Q1FY19 reported operating numbers which are broadly in line with our estimates. The company posted revenue of Rs. 6448 Mn which is up by 11% (vs. our estimate of 13% ) on YoY basis as against Q1FY18.

Number of FII/FPI investors increased from 114 to 123 in Sep 2025 qtr.

Gujarat Mineral Development Corporation Ltd.

16 May 2018

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: GMDC on Strong ...

Buy: Gujarat Mineral Developmen...

Karvy

GMDC on Strong Earning Trajectory: GMDC has reported 38.5% growth in production of lignite to 10.60 Mn MTs in FY18 as against 7.65 Mn MTs in FY17 on the back of strong demand. Revenue from lignite sales grew by 36.4% over the same period.

Gujarat Mineral Development Corporation Ltd. is trading above all available SMAs

Gujarat Mineral Development Corporation Ltd.

13 May 2018

607.60

2.00%

GMDC (4QFY18): Blowout FY18, bargain still visible. Maintain BUY

Buy: Gujarat Mineral Developmen...

Target

HDFC Securities

Our SoTP value of Rs 210/sh (see inside) is based on 6.5x Mar 20E EBITDA. GMDCs 4QFY18 numbers were strong with revenues at Rs 20.7bn (16.8% YoY) and adj. EBITDA of Rs 1.98bn (33.1% YoY). Reported nos. were hit by (1) Salary arrears and gratuity provision of Rs 631mn, and (2) Change in depreciation method on power assets (Rs 623mn). 4Q volumes were strong (3.4 mt, 27% YoY/QoQ). APAT rose 51.8% YoY to Rs 1.37bn.

Number of FII/FPI investors increased from 114 to 123 in Sep 2025 qtr.

Gujarat Mineral Development Corporation Ltd.

28 Feb 2018

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: Reduced Tax Inc... (Feb 28, 2018)

Buy: Gujarat Mineral Developmen...

Target

Karvy

Reduced Tax Incidence: Igniting Lignite Demand: The company reported an impressive performance in Q3FY18, wherein top line grewby 33.1%, while bottom line grew at 68.8% on YoY basis. Good showing has been an outcome of lignite becoming price competitive to coal following fixation of GST rate of 5% for lignite and other minerals.

Gujarat Mineral Development Corporation Ltd. is trading above all available SMAs

Gujarat Mineral Development Corporation Ltd.

16 Nov 2017

607.60

2.00%

Gujarat Mineral Development Corporation Ltd: Lignite Competi... (Nov 16, 2017)

Buy: Gujarat Mineral Developmen...

Target

Karvy

Continuance of superior performance: GMDC has posted strong set of operating numbers during Q2FY18 and half year ended on Sept 30, 2017. The standalone revenue for Q2FY18 came in at Rs.3457 Mn as against Rs.2477 Mn in Q2FY18, registering growth of 39.6% YoY basis.

Gujarat Mineral has gained 92.25% in the last 1 Year

Is Gujarat Mineral Development Corporation Ltd. worth buying?

371 Votes:

Buy 81.4%

Sell 9.97%

Hold 8.63%

RESEARCH REPORTS

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