Gujarat Mineral Development Corporation Ltd, a leading mining PSU Enterprise and the largest lignite seller in the country, has announced its financial results for the last quarter and full year ended on March 31, 2023. Total Income stood at INR 3,894 crore in FY23 as against INR 2,888 crore in FY22 (standalone), Revenues from operations were reported at INR 3,502 crore as compared to INR 2,732 crore in FY22; up by 28%, and EBITDA stood at INR 1,557 crore in FY23, as against INR 834 crore in FY22. The company’s core EBITDA margin stood at 42 percent, and Profit Before Tax (PBT) stood at INR 1,657 crore for FY23 as compared to INR 736 crore in FY22. The company’s PBT margin stood at 42 percent and Profit After Tax (PAT) stood at INR 1,212 crore in FY23 as against INR 445 crore in FY22. The company’s PAT margin stood at 31 percent. Earnings per share (EPS) for FY23 stood at INR 38 (Face Value INR 2 per share). 

For Q4 FY23 (YoY), Total Income stood at INR 1,188 crore as against INR 1,097 crore in Q4 FY22 and Revenue from Operations stood at INR 952 crore as against INR 1057 crore in Q4 FY22. EBITDA reported was INR 456 crore as compared to INR 459 crore in Q4 FY22. PBT stands at INR 617 crore as against INR 423 crore in Q4 FY22, and PAT reported was at INR 451 crore as against INR 175 crore in Q4 FY22. EPS stands at INR 14.17 (Face Value INR 2 per share).

Total production across all mines during FY23 was 78.21 lakh MT, compared to 89.47 lakhs MT in FY22. In the power segment, total MUs generated were 1,142 MU in FY23 as against 923 MU in FY22, showing a growth of 24 percent.  

Roopwant Singh, IAS, Managing Director, GMDC, commented, “We take immense pride in announcing that GMDC has achieved exceptional financial performance in the fourth quarter. This remarkable achievement is a testament to our team’s dedication and unwavering commitment. In recognition of our record financial performance this year and as a token of appreciation to our valued shareholders, we are delighted to announce the declaration of a dividend. We understand your trust and confidence in us, and we remain dedicated to maximizing returns and creating sustainable growth. We are committed to maintaining our momentum by further enhancing shareholder value in the future and will continue to drive innovation, expand our market presence, and create long-term value for all stakeholders.”   

For more information: www.gmdcltd.com