GMDC has released its Unaudited Financial Results for the Quarter and Nine Months ended December 31, 2025. The Board approved the results on February 13, 2026. Key highlights show strong performance across both Standalone and Consolidated results for the Nine Months ended 31/12/2025, with Total Income reaching ₹1,839.33 Crore. The results also detail an exceptional item related to GST rate changes impacting input tax credit utilization.
GMDC Financial Performance Summary (Q3 FY2026)
Gujarat Mineral Development Corporation Limited (GMDC) has submitted its Unaudited Financial Results for the third quarter and the nine months ended December 31, 2025, following approval by the Board of Directors on February 13, 2026.
Standalone Performance Highlights (Nine Months Ended 31/12/2025)
For the nine months ended December 31, 2025, the Standalone figures demonstrated robust activity:
- Total Income from Operations (net): ₹1,839.33 Crore, compared to ₹2,064.55 Crore in the previous corresponding period (Nine Months Ended 31/12/2024).
- Profit Before Tax: ₹1,040.14 Crore.
- Net Profit for the period after tax: ₹769.63 Crore.
- Earnings Per Share (Basic/Diluted): ₹24.20.
Consolidated Performance Highlights (Nine Months Ended 31/12/2025)
The Consolidated results, including joint ventures and associates, reflect similar trends:
- Total Income from Operations (net): ₹1,839.33 Crore.
- Profit Before Tax (after exceptional items): ₹1,033.47 Crore.
- Net Profit for the period after tax: ₹762.58 Crore.
- Earnings Per Share (Basic/Diluted): ₹23.98.
Key Accounting Adjustments
A significant item noted in the results pertains to Note 2 (Standalone) and Note 3 (Consolidated) regarding the GST Rate change effective September 22, 2025. Due to the shift in GST structure for Lignite supply, the Company became eligible to utilize an unutilized Input Tax Credit of ₹474.43 Crores. This amount, previously expensed due to remote utilization possibilities, has now been recognized as an exceptional asset/credit in the Statement of Profit and Loss for Q2 FY 26.
Segmental Analysis (Standalone)
The performance review on a segment basis indicates that the Mining segment remains the primary contributor to revenue and operating results across both quarterly and nine-month periods.
- For the Nine Months Ended 31/12/2025, Mining Segment Revenue was ₹1,733.25 Crore, contributing an operating result of ₹435.99 Crore.
- The Power segment reflected a negative operating result for the period.
Auditor Review Status
The Standalone results were subjected to a Limited Review by Statutory Auditors, Dhirubhai Shah & Co LLP, who issued an unmodified conclusion. The Consolidated results include interim financial data from two 100% controlled entities and three associates/joint ventures which were not reviewed by their respective auditors, based on management certification that these components are not material to the Group.
Source: BSE
