PSU stock engaged in exploration, mining, and mineral processing along with the generation of power jumped upto 14 percent in the day’s trade upon declaring robust Q2FY25 results with a 72 percent jump in Net Profits.
Price Action
With a market capitalization of Rs. 11,514 Crores, the shares of Gujarat Mineral Development Corporation Limited were trading at Rs. 362.05 per equity share, up 10 percent from its previous day’s close price of Rs. 328.65
Q2FY25 Results
Its Revenue from operations grew by 55 percent YoY from Rs. 382.74 Crores in Q2FY24 to Rs. 593.01 Crores in Q2FY25 and it declined by 28 percent QoQ from Rs. 818.13 Crores in Q1FY25 to Rs. 593.01Crores in Q2FY25.
Its Net Profit grew by 72 percent YoY from Rs. 74.58 Crores in Q2FY24 to Rs. 127.86 Crores in Q2FY25 and it declined by 31 percent QoQ from Rs. 184.05 Crores in Q1FY25 to Rs. 127.86 Crores in Q2FY25. Its Net Profit Margin increased from 16.22 percent in Q2FY24 to 19.50 percent in Q2FY25.
About the Company
Gujarat Mineral Development Corporation Limited is a mining and mineral processing company engaged in the exploration and supply of lignite, bauxite, fluorspar, manganese, silica sand, limestone, bentonite, and many more. It operates through two segments Mining and Power.
Coming to the revenue distribution Gujarat Mineral Development Corporation Limited generates 90 percent of its revenue from Mining Operations, and the rest 10 percent is derived from operations in Power.
It has ambitious capex plans exceeding Rs. 3,000 crores for FY 25, with similar amounts planned for the following years, with Major allocations for new lignite projects, operationalizing coal blocks in Odisha, and investments in critical minerals.
Written by: Bharath K.S
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