Shares of Gujarat Mineral Development Corporation (GMDC) rallied as much as 18% to hit a fresh 52-week high of Rs 736 on the BSE on Thursday, extending gains for a third trading session in a row. GMDC shares have delivered strong returns across multiple timeframes, gaining 36% over the past month and 23% over the last six months. Year-to-date, the stock has risen 21%, while it has surged 130% over the past year. Over a five-year period, the stock has rallied as much as 1,200%.
The company reported a net profit of Rs 133 crore in Q3 FY26, marking a 10% decline from Rs 147.7 crore in the same period last year. Revenue for the quarter fell 11.3% to Rs 579 crore from Rs 653 crore in Q3 FY25. However, EBITDA rose 9.5% to Rs 101.2 crore compared with Rs 92.4 crore a year ago, with margins improving to 17.5% from 14.1% in the corresponding quarter.
GMDC is a leading mining and mineral processing company in India, the country’s largest merchant seller of lignite, and the second-largest producer of lignite. The company is engaged in developing Gujarat’s mineral resources, including lignite and bauxite, and has a diversified energy portfolio across thermal, wind, and solar power. Last month, GMDC announced a Memorandum of Understanding (MoU) with Navratna firm NMDC to explore collaboration in the Rare Earth Elements sector.
