Gujarat Mineral Development (GMDCLTD) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue from operations was ₹902.97 crore, up from ₹527.58 crore YoY and slightly below ₹906.64 crore QoQ; net profit was ₹171.23 crore standalone and ₹170.79 crore consolidated.

• Comparative Q2 FY26 earnings included a ₹474.43 crore exceptional GST input-credit benefit, making reported YoY net-profit comparisons less reflective of underlying operating performance.

Financial highlights

• Standalone Q2 total income was ₹986.78 crore; PBT before exceptional items was ₹234.60 crore, versus ₹159.51 crore in Q2 FY26.

• Standalone Q2 net profit was ₹171.23 crore versus ₹470.35 crore YoY; H1 net profit was ₹334.24 crore versus ₹634.48 crore.

• Consolidated Q2 net profit was ₹170.79 crore versus ₹465.75 crore YoY; H1 net profit was ₹334.22 crore versus ₹629.52 crore.

• H1 revenue from operations was ₹1,809.61 crore, versus ₹1,260.18 crore in H1 FY26.

Segment performance

• Mining revenue was ₹809.90 crore in Q2 and mining operating results were ₹194.26 crore; Q2 FY26 comparatives were ₹494.78 crore and ₹108.60 crore, respectively.

• Power revenue was ₹135.97 crore in Q2, with operating results of ₹8.70 crore; Q2 FY26 revenue was ₹39.83 crore and operating results were a ₹14.37 crore loss.

• H1 segment revenue was ₹1,650.91 crore for Mining and ₹247.22 crore for Power, before ₹88.52 crore of inter-segment revenue.