Gujarat Mineral Development Corporation Ltd (GMDC), a leading public sector enterprise in India’s mining sector, has announced its financial results for Q2FY25, marking its highest-ever revenue from operations for the second quarter.
In Q2FY25, GMDC achieved a record revenue of ₹593 crore, reflecting a 55% increase from ₹382 crore in Q2FY24. The company’s EBITDA rose by 56% to ₹203 crore, up from ₹130 crore in the previous year. Profit Before Tax (PBT) grew by 64%, reaching ₹183 crore, marking the third-highest Q2 PBT in GMDC’s history, while Profit After Tax (PAT) surged by 69% to ₹129.18 crore, compared to ₹76.46 crore in Q2FY24.
For the half-year period of H1FY25, GMDC’s revenue from operations reached ₹1,411 crore, a 23% increase from ₹1,148 crore in H1FY24. EBITDA grew by 9% to ₹474 crore, and PBT rose by 8% to ₹432 crore. PAT stood at ₹313.75 crore, up from ₹291.11 crore in the same period last year.
During Q2FY25, GMDC achieved record lignite sales of 16.59 lakh MT, marking an 81% increase from 9.15 lakh MT in Q2FY24. The sales value of lignite rose by 88.5%, reaching ₹541 crore compared to ₹287 crore in the same quarter last year.
Additionally, renewable energy contributed ₹40 crore to the company’s revenue in H1FY25. GMDC also made significant progress in its strategic initiatives, successfully completing the public hearing for the Baitarni-West Coal Block and signing a supplementary agreement with Gujarat Urja Vikas Nigam Limited (GUVNL) to amend the Power Purchase Agreement for its ATPS project.
Shri Roopwant Singh, IAS, Managing Director of GMDC, highlighted the company’s resilience, noting, “Despite extended monsoon challenges, our core lignite business saw a remarkable 44% production increase in H1FY25. This reflects our strategic planning and operational strength. Our initiatives, including the Baitarni-West Coal Block and Mission 18.0 to boost lignite sales, position it for continued growth.”
GMDC is India’s second-largest lignite producer and the leading merchant seller of lignite in the country. As a state-owned enterprise of the Gujarat Government, it serves high-growth industries such as textiles, chemicals, ceramics, and power with its extensive lignite mining operations across Gujarat.
