GMDC Ups Investor Rewards With Robust FY26 Performance And Higher Dividend

Nikunj Parikh May 14, 2026 430 Views

Gujarat Mineral Development Corporation Limited (GMDC) has recommended a dividend of ₹9.50 per equity share of ₹2 each (475%) for FY26, alongside resilient Q4 and full-year results. The state-run miner reported strong profitability, exceptional tax credits and a healthy balance sheet, underlining its strategic transformation under Project Shikhar.

GMDC’s Board, at its 14 May 2026 meeting, approved audited standalone and consolidated financial results for the year ended 31 March 2026 and recommended the enhanced dividend, subject to shareholder approval. The company also received an unmodified audit opinion on its FY26 accounts, reinforcing confidence in its financial reporting and governance standards.

Q4 And Full Year Financial Snapshot

For Q4 FY26, standalone revenue from operations stood at ₹814.05 crore, with total income of ₹969.46 crore and profit after tax of ₹221.18 crore. For FY26, standalone revenue from operations was ₹2,653.38 crore, with profit after tax at ₹990.81 crore and EPS of ₹31.16 per share on a ₹2 face value. Consolidated FY26 profit after tax stood at ₹956.67 crore on revenue from operations of ₹2,653.38 crore, with EPS of ₹30.08.

Exceptional Items And GST Benefit

Results were significantly boosted by recognition of GST input credit of ₹492.63 crore as an exceptional income following a change in GST rate on lignite from 5% to 18% and removal of compensation cess from 22 September 2025. Additionally, restoration of earlier written-off ITC under litigation added ₹30.02 crore as an exceptional gain.

Segment Performance And Balance Sheet Strength

The mining segment contributed ₹2,507.62 crore of revenue in FY26, while the power segment delivered ₹215.72 crore. Total standalone assets rose to ₹8,978.89 crore, with equity of ₹7,068.57 crore and relatively modest total liabilities of ₹1,910.32 crore, highlighting a strong net-worth position. Cash and cash equivalents at year-end stood at ₹94.31 crore, with additional other bank balances of ₹445.81 crore supporting liquidity.