Gujarat Mineral Development Corporation Limited (GMDC), established in 1963, is a leading state-owned enterprise headquartered in Ahmedabad, Gujarat, renowned for its extensive contributions to India’s mining and mineral processing sectors. The company specializes in the exploration, extraction, and production of a diverse range of minerals, including lignite, bauxite, fluorspar, manganese, silica sand, limestone, bentonite, and ball clay, making it one of the largest lignite producers in the country. Beyond mining, GMDC has strategically diversified into power generation, leveraging thermal, wind, and solar energy to contribute to India’s energy needs. Emphasizing sustainability, GMDC has implemented innovative environmental initiatives to reduce its ecological footprint, ensuring a balance between industrial growth and environmental stewardship. With its wide-ranging expertise and commitment to responsible practices, GMDC plays a pivotal role in advancing India’s mineral and energy sectors while adhering to sustainable development principles.
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | |
| Promoters + | 74.00% | 74.00% | 74.00% | 74.00% | 74.00% |
| FIIs + | 1.89% | 1.76% | 1.82% | 1.60% | 1.68% |
| DIIs + | 1.00% | 0.89% | 0.75% | 1.00% | 0.78% |
| Government + | 0.00% | 0.00% | 0.00% | 0.05% | 0.00% |
| Public + | 23.09% | 23.34% | 23.43% | 23.36% | 23.54% |
| No. of Shareholders | 1,56,002 | 1,79,043 | 2,29,463 | 2,41,725 | 2,52,024 |
The shareholding pattern of Gujarat Mineral Development Corporation (GMDC) reflects a stable and concentrated ownership structure, with promoters consistently holding a dominant 74.00% stake across all quarters from September 2023 to September 2024. Foreign Institutional Investors (FIIs) maintained a small but fluctuating presence, starting at 1.89% in September 2023, dipping to 1.60% by June 2024, and slightly recovering to 1.68% by September 2024. Domestic Institutional Investors (DIIs) exhibited minor variations, with their stake ranging from 0.75% in March 2024 to 1.00% in September 2023 and June 2024. The government’s stake was negligible, momentarily appearing at 0.05% in June 2024. Public shareholding showed a gradual increase, rising from 23.09% in September 2023 to 23.54% by September 2024, reflecting growing retail investor interest. The number of shareholders also saw consistent growth, from 1,56,002 in September 2023 to 2,52,024 by September 2024.
Below are the trading platforms that you can use to purchase Gujarat Mineral Development Corporation shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| December 2024 | 396.15 | 344.48 |
In December 2024, the maximum and minimum prices of Gujarat Mineral Development Corporation shares are projected to reach ₹396.15 and ₹344.48.
| When | Maximum Price | Minimum Price |
| January 2025 | 400.12 | 307.78 |
| February 2025 | 404.16 | 310.89 |
| March 2025 | 412.64 | 317.42 |
| April 2025 | 408.56 | 314.28 |
| May 2025 | 396.66 | 305.12 |
| June 2025 | 414.51 | 318.85 |
| July 2025 | 406.38 | 312.60 |
| August 2025 | 418.95 | 322.27 |
| September 2025 | 423.98 | 326.14 |
| October 2025 | 435.00 | 334.62 |
| November 2025 | 445.88 | 342.98 |
| December 2025 | 465.94 | 358.42 |
In 2025, Gujarat Mineral Development Corporation shares are projected to show steady growth, starting in January with a maximum of ₹400.12 and a minimum of ₹307.78. Prices are expected to rise gradually, reaching ₹418.95 and ₹322.27 by August. Further growth is anticipated in the latter months, with November seeing ₹445.88 and ₹342.98, and concluding in December at ₹465.94 and ₹358.42.
| When | Maximum Price | Minimum Price |
| January 2026 | 479.92 | 369.17 |
| February 2026 | 467.92 | 359.94 |
| March 2026 | 477.28 | 367.14 |
| April 2026 | 487.02 | 374.63 |
| May 2026 | 482.20 | 370.92 |
| June 2026 | 494.25 | 380.19 |
| July 2026 | 484.56 | 372.74 |
| August 2026 | 499.55 | 384.27 |
| September 2026 | 509.54 | 391.95 |
| October 2026 | 522.79 | 402.14 |
| November 2026 | 535.86 | 412.20 |
| December 2026 | 549.25 | 422.50 |
| When | Maximum Price | Minimum Price |
| January 2027 | 554.74 | 426.73 |
| February 2027 | 568.97 | 437.67 |
| March 2027 | 591.16 | 454.74 |
| April 2027 | 579.57 | 445.82 |
| May 2027 | 562.69 | 432.84 |
| June 2027 | 588.01 | 452.31 |
| July 2027 | 576.48 | 443.44 |
| August 2027 | 594.31 | 457.16 |
| September 2027 | 615.11 | 473.16 |
| October 2027 | 631.10 | 485.46 |
| November 2027 | 646.88 | 497.60 |
| December 2027 | 663.05 | 510.04 |
| When | Maximum Price | Minimum Price |
| January 2028 | 676.31 | 520.24 |
| February 2028 | 693.65 | 533.58 |
| March 2028 | 720.70 | 554.39 |
| April 2028 | 706.57 | 543.52 |
| May 2028 | 685.99 | 527.69 |
| June 2028 | 716.86 | 551.43 |
| July 2028 | 702.81 | 540.62 |
| August 2028 | 724.54 | 557.34 |
| September 2028 | 749.90 | 576.85 |
| October 2028 | 769.40 | 591.85 |
| November 2028 | 788.63 | 606.64 |
| December 2028 | 808.35 | 621.81 |
| When | Maximum Price | Minimum Price |
| January 2029 | 824.52 | 634.24 |
| February 2029 | 845.66 | 650.51 |
| March 2029 | 878.64 | 675.88 |
| April 2029 | 861.41 | 662.62 |
| May 2029 | 836.32 | 643.32 |
| June 2029 | 873.96 | 672.27 |
| July 2029 | 856.82 | 659.09 |
| August 2029 | 883.32 | 679.48 |
| September 2029 | 914.24 | 703.26 |
| October 2029 | 938.01 | 721.54 |
| November 2029 | 961.46 | 739.58 |
| December 2029 | 985.49 | 758.07 |
| When | Maximum Price | Minimum Price |
| January 2030 | 1,005.20 | 773.23 |
| February 2030 | 1,030.98 | 793.06 |
| March 2030 | 1,071.18 | 823.99 |
| April 2030 | 1,050.18 | 807.83 |
| May 2030 | 1,019.59 | 784.30 |
| June 2030 | 1,065.48 | 819.60 |
| July 2030 | 1,044.58 | 803.53 |
| August 2030 | 1,076.89 | 828.38 |
| September 2030 | 1,114.58 | 857.37 |
| October 2030 | 1,143.56 | 879.66 |
| November 2030 | 1,172.15 | 901.65 |
| December 2030 | 1,201.45 | 924.19 |
As we step into 2030, Gujarat Mineral Development Corporation shares are anticipated to exhibit consistent growth. In January, the maximum price is expected to reach ₹1,005.20, with a minimum of ₹773.23. The upward trend may continue in February with prices touching ₹1,030.98 and ₹793.06. By mid-year, in June, projections indicate a maximum of ₹1,065.48 and a minimum of ₹819.60. As we step into the latter months, prices could climb further, with September expected to see ₹1,114.58 and ₹857.37. Closing the year in December, the shares are forecasted to peak at ₹1,201.45, with a minimum of ₹924.19.
Financial Condition of Gujarat Mineral Development Corporation
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
| Sales + | 1,449 | 1,329 | 2,732 | 3,498 | 2,463 | 2,726 |
| Expenses + | 1,323 | 1,335 | 2,011 | 2,161 | 1,837 | 2,048 |
| Operating Profit | 126 | -6 | 721 | 1,337 | 626 | 678 |
| OPM % | 9% | 0% | 26% | 38% | 25% | 25% |
| Other Income + | 173 | -241 | 158 | 396 | 273 | 257 |
| Interest | 2 | 2 | 3 | 2 | 3 | 3 |
| Depreciation | 92 | 94 | 98 | 81 | 79 | 83 |
| Profit before tax | 205 | -343 | 778 | 1,649 | 818 | 848 |
| Tax % | 28% | -90% | 43% | 27% | 25% | |
| Net Profit + | 146 | -36 | 446 | 1,204 | 617 | 636 |
| EPS in Rs | 4.61 | -1.12 | 14.02 | 37.88 | 19.41 | 19.99 |
| Dividend Payout % | 43% | -18% | 31% | 30% | 49% |
Gujarat Mineral Development Corporation (GMDC) has displayed a dynamic financial performance over recent years. Sales showcased impressive growth, peaking at ₹3,498 crore in March 2023 before moderating to ₹2,463 crore by March 2024. The trailing twelve months (TTM) figure stands at ₹2,726 crore, indicating stability. Despite rising expenses, which reached ₹2,048 crore in TTM, the company managed to sustain profitability, with an operating profit of ₹678 crore and a consistent OPM of 25%. This reflects GMDC’s ability to efficiently manage costs while delivering robust operational outcomes.
The net profit trajectory highlights GMDC’s resilience, bouncing back from a loss of ₹36 crore in March 2021 to a substantial profit of ₹1,204 crore in March 2023. Although it moderated to ₹617 crore in March 2024, the company continues to maintain strong shareholder value, evidenced by an increased dividend payout ratio of 49%. Earnings per share (EPS) also improved significantly over time, rising from a low of ₹-1.12 in March 2021 to ₹19.41 in March 2024, demonstrating a commitment to delivering consistent returns to investors.
Other income has been a vital contributor to GMDC’s profitability, with ₹396 crore in March 2023 and ₹273 crore in March 2024 supporting the bottom line. The company has shown resilience in managing financial challenges while balancing growth and sustainability. GMDC’s financial discipline and strategic focus underline its long-term potential in India’s mining and mineral sector.
FAQS
As of November 30th, 2024, the share price of Gujarat Mineral Development Corporation is around INR ₹345.
It is unlikely for the share price of Gujarat Mineral Development Corporation to reach INR 500 by 2025. Such a target would require a massive growth rate.
As per our analysis, Gujarat Mineral Development Corporation in 2025 is expected to trade between ₹305.12 to ₹465.94.
As per our analysis, Gujarat Mineral Development Corporation share price target for 2030 would be somewhere between ₹773.23 and ₹1,201.45.
You can invest in Gujarat Mineral Development Corporation shares through a stockbroker, either online or offline. You will need to open a Demat account and trading account to buy and sell shares. We recommend Groww and Paytm Money.
Also Read
- Eureka Forbes Share Price Target 2025, 2026 to 2030
- Deepak Nitrite Share Price Target 2025, 2026 to 2030
- Motilal Oswal Financial Services Share Price Target 2025, 2026 to 2030
Conclusion
In conclusion, Gujarat Mineral Development Corporation (GMDC) has demonstrated significant growth and stability over the years, both in terms of its financial performance and market share. With its strong and consistent operating profits, a steady rise in sales, and effective cost management, GMDC continues to be a key player in India’s mining and energy sectors. While its shareholding pattern shows a concentration of ownership by promoters, there is growing public interest, as reflected in the increasing number of shareholders. The company’s diverse ventures into power generation and its focus on sustainability further enhance its long-term potential. GMDC’s strong financial health and market positioning make it a solid choice for long-term investors.
What did we learn?
- 1 Shareholdings Patterns of Gujarat Mineral Development Corporation
- 2 How to Purchase Gujarat Mineral Development Corporation Shares in India?
- 3 Gujarat Mineral Development Corporation Share Price Target 2024, 2025 to 2030
- 3.1 Gujarat Mineral Development Corporation Share Price Prediction 2024
- 3.2 Gujarat Mineral Development Corporation Share Price Target 2025
- 3.3 Gujarat Mineral Development Corporation Share Price Prediction 2026
- 3.4 Gujarat Mineral Development Corporation Share Price Target 2027
- 3.5 Gujarat Mineral Development Corporation Share Price Prediction 2028
- 3.6 Gujarat Mineral Development Corporation Share Price Target 2029
- 3.7 Gujarat Mineral Development Corporation Share Price Target 2030
- 4 Financial Condition of Gujarat Mineral Development Corporation
- 5 FAQS
- 5.1 What is the current share price of Gujarat Mineral Development Corporation?
- 5.2 Can Gujarat Mineral Development Corporation share price reach INR 500 by 2025?
- 5.3 What is Gujarat Mineral Development Corporation share price target for 2025?
- 5.4 What is Gujarat Mineral Development Corporation share price target for 2030?
- 5.5 How can I invest in Gujarat Mineral Development Corporation shares?
- 6 Conclusion
