Gujarat Mineral Development Corporation LimitedQ2 FY27 Results & Financial Update
Gujarat Mineral Development Corporation Limited: Q2 FY27 consolidated results and company financials – revenue ₹902.97 Cr, PAT ₹170.79 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Gujarat Mineral Development Corporation Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Gujarat Mineral Development Corporation Limited reported consolidated revenue from operations of INR 902.97 crore for the quarter ended September 30, 2026, remaining stable compared to the preceding quarter's revenue of INR 906.64 crore.
Total income for Q2 FY27 stood at INR 986.78 crore, reflecting a marginal increase from INR 982.79 crore recorded in Q1 FY27, supported by steady non-operating receipts.
Profit before tax (PBT) improved sequentially to INR 234.60 crore from INR 227.25 crore in the previous quarter, aided by disciplined cost management and higher other income contributions.
Profit after tax (PAT) for the quarter expanded by approximately 4.50% sequentially to INR 170.79 crore, compared to INR 163.43 crore in Q1 FY27.
Earnings per share (EPS) for the current quarter registered at INR 5.37, moving up from INR 5.14 in the preceding quarter.
Other income contributed significantly to the bottom line, coming in at INR 83.81 crore compared to INR 76.15 crore in Q1 FY27, while interest income stood at INR 81.96 crore.
Financial charges remained minimal and well-controlled at INR 6.60 crore, matching the previous quarter's expenditure of INR 6.61 crore, while depreciation and amortisation expenses were recorded at INR 32.83 crore.
01 · Business model
What does Gujarat Mineral Development Corporation do?
Gujarat Mineral Development Corporation Limited operates as a leading state-owned mining and mineral extraction enterprise, focusing on the commercial development of mineral resources in the state of Gujarat.
The corporation's primary revenue streams are anchored in the extraction and sale of lignite, alongside operations spanning various mineral and energy verticals.
Serving diverse industrial clients across power, textile, chemical, and manufacturing sectors, the company relies heavily on efficient open-cast mining operations and strategic resource allocation.
Geographically, its operational footprint is concentrated around its captive and leased mines across Gujarat, supporting regional industrial energy and mineral feedstock demands.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹902.97 Cr | ₹906.64 Cr |
| Total income | ₹986.78 Cr | ₹982.79 Cr |
| Profit before tax | ₹234.60 Cr | ₹227.25 Cr |
| Profit after tax | ₹170.79 Cr | ₹163.43 Cr |
| EPS | ₹5.37 | ₹5.14 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 18.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 26.0% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹83.81 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations remained steady at INR 902.97 crore for Q2 FY27, underpinned by stable off-take and realisations from core mining activities.
Total income reached INR 986.78 crore, supported by robust other income of INR 83.81 crore and interest income of INR 81.96 crore.
What drove margins
Tax expenses for the quarter were reported at INR 63.37 crore, down slightly from INR 64.24 crore in Q1 FY27, supporting net profitability. Finance costs remained negligible at INR 6.60 crore.
Depreciation and amortisation expenses stood at INR 32.83 crore, while provisions for the quarter were recorded at INR 70.46 crore.
04 · Reported developments
What changed operationally
PAT rose by 4.50% sequentially to INR 170.79 crore, reflecting improved operational efficiencies and higher other income.
05 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions amounting to INR 70.46 crore during the quarter under review.
06 · Beyond the numbers
What changed beyond the numbers
Reported update
Consolidated Financial Reporting
The financial results for Q2 FY27 were reviewed by the audit committee and approved by the Board of Directors at their meeting held on October 30, 2026.
07 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations marginally moved from INR 906.64 crore in Q1 FY27 to INR 902.97 crore in Q2 FY27, while total income improved from INR 982.79 crore to INR 986.78 crore.
PBT increased from INR 227.25 crore to INR 234.60 crore, driving PAT higher from INR 163.43 crore to INR 170.79 crore quarter-on-quarter.
08 · Key Q&A
The quarter, answered directly
What does Gujarat Mineral Development Corporation do?
Gujarat Mineral Development Corporation Limited operates as a leading state-owned mining and mineral extraction enterprise, focusing on the commercial development of mineral resources in the state of Gujarat.
What is the clearest takeaway from Q2 FY27?
Gujarat Mineral Development Corporation Limited reported consolidated revenue from operations of INR 902.97 crore for the quarter ended September 30, 2026, remaining stable compared to the preceding quarter's revenue of INR 906.64 crore.
What drove revenue or demand?
Revenue from operations remained steady at INR 902.97 crore for Q2 FY27, underpinned by stable off-take and realisations from core mining activities.
What mattered most for margins or profitability?
Tax expenses for the quarter were reported at INR 63.37 crore, down slightly from INR 64.24 crore in Q1 FY27, supporting net profitability. Finance costs remained negligible at INR 6.60 crore.
What changed operationally beyond the headline numbers?
The financial results for Q2 FY27 were reviewed by the audit committee and approved by the Board of Directors at their meeting held on October 30, 2026.
What should the next disclosure help confirm?
Monitor future quarterly filings for sustainable traction in lignite mining volumes and realisations across core industrial segments.
09 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
10 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Volume and Realisation Trends: Monitor future quarterly filings for sustainable traction in lignite mining volumes and realisations across core industrial segments.
- 02
Provisioning and Cost Control: Track subsequent movements in provisions and operational overheads to assess underlying margin sustainability.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.