Slides
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www.gmdcltd.com B R I N G I N G N E W E N E R G I E S . . . Financial Results for the Quarter and 9 Monthsended Dec’ 25
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www.gmdcltd.com Q3 FY26 Performance Highlights GMDC achieved an overall ESG rating of 77.7 (Leadership) by CareEdge Highest ever 9M PBT GMDC Limited has been officially certified as a Great Place to Work Ambadungar REE Ore Beneficiation technology transferred to GMDC by BARC 3 4 1 2
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www.gmdcltd.com Financial Performance
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www.gmdcltd.com Q3 and 9M’FY 2026 Financial SnapshotParticulars(Amounts in ₹ Cr)For the QuarterFor the 9 Month ended 31st December 2025Q3FY26Q3FY25%Q-o-Q9M’FY269M’FY25% 9 MonthsGross Sales1 582655-11%18472,068-11%Less: Discount2.61 160%7.63 153%Revenue from Operations579653-11%18392,065-11%Other Income2 101115-12%28723721%Total Revenue680768-11%21262,301-8%Variable Expense1 313404-23%10191,226-17%Fixed Expense1641584%47639421%EBITDA204207-2%632681-7%EBITDA Margin (%)30%27%3%30%30%-0.3%Depreciation2226-15%6669-4%Exceptional Income3 - - - 474- -Profit Before Tax1821801%104061270%1.Impact of Cess withdrawal on Lignite on sales and variable Exp: 18.3 Lakh MT amounts to ~Rs 73 Cr in Q3 FY26 and 20.0 Lakh MT amounts to ~Rs 80 Cr in 9M FY26, same was Nil during Q3 FY25 and 9M FY252.Interest on Income tax refund Nil in Q3 FY26 & Rs 28 Cr in 9M FY26 and Rs 40 Cr in Q3 FY25 & 9M FY253.Write-back of Rs 474 Cr towards GST Input Tax Credit in 9M FY26
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www.gmdcltd.com Business Performance
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www.gmdcltd.com Segment Wise Performance (Quarter)ParticularsQ3 FY26 Q3 FY25(Amounts in ₹ Cr)Mining1ATPSRenewableCorporateTotalMining1ATPSRenewableCorporateTotalTotal Revenue2 5733021.97670165082093770Fixed Expense3 943122.5391867592278184Variable Expense2 3052900334396900405Profit/(Loss) Before Tax175-29-0.637182178-11-2151801.Including Branch Transfer to ATPS power plant for captive consumption from Mata no Madh 0.98 Lakh MT for Rs 20.96 Cr in Q3 FY 26 and Nil in Q3 FY 25 2.Impact of Cess withdrawal on Lignite on sales and variable Exp: 18.3 Lakh MT amounts to ~Rs 73 Cr in Q3 FY26 and was Nil during Q3 FY253.In Mining projects, compared to Q3 FY25- Additional Mine Closure expense amounts to Rs 13 Cr
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www.gmdcltd.com Segment Wise Performance (9 Months)Particulars9M FY26 9M FY25(Amounts in ₹ Cr)Mining1ATPSRenewableCorporateTotalMining1ATPSRenewableCorporateTotalTotal Revenue2 1,793381122112,1542,009381011772,324Exceptional Income3 ---47447400000Fixed Expense4 28970661165422174264140463Variable Expense2 1,00838001,0471,21039001,249Profit/(Loss) Before Tax496-70465691,040582-4337366121.Mining Revenue includes Branch Transfer to ATPS power plant for captive consumption from Mata no Madh 1.30 Lakh MT for Rs 27.99 Cr in 9M'FY26 and 1.08 Lakh MT for Rs 21.17 Cr in 9M'FY 25 2.Impact of Cess withdrawal on Lignite on sales and variable Exp: 20.0 Lakh MT amounts to ~Rs 80 Cr in 9M FY26 and same was Nil during 9M FY253.Exceptional Income of Rs 474 Cr is towards write-back of GST Input Tax Credit4.In Mining projects, compared to 9M FY25- COD impact amounts to Rs 32 Cr and Additional Mine Closure expense amounts to Rs 38 Cr
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www.gmdcltd.com Project-wise Sales Analysis- Mining (Quarter)ProjectQ3FY26Q3FY25Increase / (Decrease) MT in Lakh₹ in Cr2MT in Lakh₹ in Cr% Quantity% ValueMata no Madh1 9.42648.627810%-5%Tadkeshwar0.000.832-100%-100%Bhavnagar5.21395.2163-1%-15%Umarsar3.71064.1123-10%-14%Lignite Total18.350918.7597-2%-15%Bauxite (Gadhsisa & Mevasa)0.9271.328-26%-5%Total 19.253520.0625-4%-14%Note: 1.Including Branch Transfer to ATPS power plant for captive consumption from: Mata no Madh 0.98 Lakh MT for Rs 20.96 Cr in Q3 FY 26 and Nil in Q3 FY 252.Impact of Cess withdrawal on Lignite on sales : 18.3 Lakh MT amounts to ~Rs 73 Cr in Q3 FY26 and was Nil during Q3 FY25
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www.gmdcltd.com Project-wise Sales Analysis- Mining (9 Months)Project9M’FY269M’FY25Increase / (Decrease) MT in Lakh₹ in Cr2MT in Lakh₹ in Cr% Quantity% ValueMata no Madh1 22.768728.2880-20%-22%Rajpardi- -1.171 - -Tadkeshwar3.51314.1167-15%-21%Bhavnagar15.645813.845013%2%Umarsar11.334311.03273%5%Lignite Total53.0162058.31,895-9%-15%Bauxite (Gadhsisa & Mevasa)3.1842.55826%45%Total 56.1170460.81,953-8%-13%1.Including Branch Transfer to ATPS power plant for captive consumption from: Mata no Madh 1.30 Lakh MT for Rs 27.99 Cr in 9M'FY26 and 1.08 Lakh MT for Rs 21.17 Cr in 9M'FY252.Impact of Cess withdrawal on Lignite on sales: 20.0 Lakh MT amounts to ~Rs 80 Cr in 9M FY26 and same was Nil during 9M FY25
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www.gmdcltd.com Project-wise Sales Analysis – Power (Quarter)Power ProjectsCapacity MWQ3FY26Q3FY25Increase / (Decrease) MUs₹ In CrMUs₹ In Cr% Quantity% ValueMaliya 19.52.20.72.70.9-21%-20%Jodiya335.41.95.41.90%-1%Gorsar7.52.60.92.50.94%4%Bada214.01.43.41.219%21%Varvala19.56.92.44.31.560%61%Bhanvad50.418.07.516.26.611%14%Rojmal5013.55.514.96.2-10%-11%Total Wind200.952.520.449.519.26%6%PN Solar51.60.81.70.8-5%-5%Total Renewable205.954.221.251.220.06%6%ATPS (Thermal)25082.0725.70.00.0- -Grand Total455.9136.246.951.220.0166%135%Note: Revenue for ATPS in Q3 FY 25 excludes Lignite sale of ~6 Cr (23015 T at Rs 2626/T) and Rs 22L for UI Discount Received
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www.gmdcltd.com Project-wise Sales Analysis – Power (9 Months)Power ProjectsCapacity MW9M’FY269M’FY25Increase / (Decrease) MUs₹ In CrMUs₹ In Cr% Quantity% ValueMaliya 19.524.08.423.38.13%3%Jodiya3346.416.345.916.21%1%Gorsar7.513.74.813.94.9-1%-2%Bada2122.98.018.86.622%23%Varvala19.529.910.521.17.442%41%Bhanvad50.464.826.863.025.83%4%Rojmal5070.429.070.729.10%-1%Total Wind200.9272.2103.8256.698.16%6%PN Solar54.62.24.72.3-3%-3%Total Renewable205.9276.7106.0261.3100.36%6%ATPS (Thermal)25090.628.188.128.13%-Grand Total455.9367.4134.1349.5128.45%4%Note: Revenue for ATPS in Q3 FY 25 excludes Lignite sale of ~6 Cr (23015 T at Rs 2626/T) and Rs 22L for UI Discount Received
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Gujarat Mineral Development Corporation Ltd.(A Government of Gujarat Enterprise)Khanij Bhavan, 132 Feet Ring Road,Near University Ground, Vastrapur, Ahmedabad - 380052www.gmdcltd.com T H A N K Y O U