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

Executive summary

• Total income from operations for the quarter ended December 31, 2025, was ₹579.15 crore, down from ₹653.41 crore in the same quarter last year, but up from ₹527.58 crore in the previous quarter.

• Net profit after tax for the quarter was ₹135.15 crore (standalone) and ₹133.06 crore (consolidated), compared to ₹148.72 crore and ₹147.66 crore, respectively, in the same quarter last year.

• Exceptional item of ₹474.43 crore recognized in Q2 FY26 due to GST input credit realization, significantly impacting year-to-date profit before tax.

Financial highlights

• Standalone total income for the nine months ended December 31, 2025, was ₹1,839.33 crore, compared to ₹2,064.55 crore in the prior year period.

• 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.

• Consolidated net profit after tax for the nine months was ₹762.58 crore, up from ₹459.57 crore year-over-year.

• Basic and diluted EPS for the quarter were ₹4.25 (standalone) and ₹4.18 (consolidated); for the nine months, EPS was ₹24.20 (standalone) and ₹23.98 (consolidated).

Outlook and guidance

• The company expects continued benefit from the revised GST regime, with improved realization from lignite sales due to cessation of the inverted duty structure.

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