Gujarat Mineral Development Corporation posts PAT of Rs 1,212 cr for FY23

New Delhi: State-owned Gujarat Mineral Development Corporation (GMDC) announced the standalone and consolidated financial results for the financial year that ended on March 31. The company posted a profit after tax (PAT) at Rs 1,212 crores in FY23 as against Rs 445 crores in FY22. The company’s PAT margin stood at 31 percent. The company's total Income stood at Rs 3,894 crores in FY23 as against Rs 2,888 crores in FY22.

GMDC's revenue from operations stood at Rs 3,502 crores as compared to Rs 2,732 crores in FY22, up by 28 percent. Its EBITDA stands at Rs 1,557 crores in FY23, as against Rs 834 crores in FY22. The company’s core EBITDA margin stood at 42 percent.

The company's Earnings per share (EPS) for FY23 stood at Rs 38 (Face Value Rs 2 per share). The company's total production across all mines during FY23 was 78.21 lakh MT, against 89.47 lakhs MT in FY22. In the power segment, total MU generated 1,142 MU in FY23 as against 923 MU in FY22 showing a growth of 24 percent.

Commenting on the financial performance of the company, Roopwant Singh, IAS, Managing Director, GMDC said, "We take immense pride in announcing that GMDC has achieved an 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 dividend. We understand your trust and confidence in us, and we remain dedicated to maximising 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."

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