Gujarat Mineral Development (GMDCLTD) Q2 24/25 earnings summary

Executive summary

• Achieved highest ever Q2 revenue at ₹594 Cr and second highest H1 revenue at ₹1,413 Cr, with significant year-over-year growth in both standalone and consolidated results.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2024, were approved on October 22, 2024.

• Q2 saw third highest PBT at ₹183 Cr, with significant growth in lignite sales quantity by 81%.

Financial highlights

• Q2 net sales rose 55% year-over-year to ₹593 Cr; total revenue up 43% to ₹655 Cr; H1 net sales up 23% to ₹1,411 Cr; total revenue up 19% to ₹1,533 Cr.

• Q2 EBITDA increased 56% to ₹203 Cr, with margin improving to 31% from 28%; H1 EBITDA grew 9% to ₹474 Cr, margin at 31% (down from 34%).

• Q2 PBT up 64% year-over-year to ₹183 Cr; H1 PBT up 8% to ₹432 Cr.

• Standalone net profit after tax for Q2 FY25 was ₹129.18 Cr, up from ₹76.46 Cr; H1 net profit was ₹313.75 Cr, up from ₹291.99 Cr.

• Cash and cash equivalents increased to ₹145.35 Cr as of September 30, 2024, from ₹33.01 Cr as of March 31, 2024.

Outlook and guidance

• Strategic transformation initiative 'Project Shikhar' underway to drive future growth.

• The Board and management highlight continued operational and financial strength but provided no explicit forward-looking guidance.