Gujarat Mineral Development (GMDCLTD) Q3 25/26 earnings summary

Executive summary

• Achieved highest ever 9-month profit before tax (PBT) in company history, driven by a ₹474.43 crore GST input credit write-back.

• Total income from operations for Q3 FY26 was ₹579.15 crore, down year-over-year but up sequentially.

• Officially certified as a Great Place to Work for 2026 and received an ESG rating of 77.7 (Leadership) from Care Edge.

• Net profit after tax for 9M FY26 was ₹769.63 crore (standalone), up from ₹462.47 crore, mainly due to the exceptional GST credit.

• Technology transfer for Ambadungar REE Ore Beneficiation from BARC.

Financial highlights

• Q3 FY26 revenue from operations declined 11% year-over-year to ₹579 Cr; 9M FY26 down 11% to ₹1,839 Cr.

• Q3 FY26 EBITDA at ₹204 Cr, down 2% year-over-year; 9M FY26 EBITDA at ₹632 Cr, down 7%.

• Q3 FY26 PBT at ₹182 Cr, up 1% year-over-year; 9M FY26 PBT at ₹1,040 Cr, up 70% due to exceptional income.

• Standalone net profit after tax for the nine months was ₹769.63 crore, up from ₹462.47 crore year-over-year, mainly due to the exceptional GST credit.

• Basic and diluted EPS for the nine months were ₹24.20 (standalone) and ₹23.98 (consolidated).

Outlook and guidance

• Focus on operational efficiency, leveraging technology transfers, and continued benefit from the revised GST regime.

• Impact of new labor codes assessed as not material for the current period; further evaluation will follow once all rules are notified.