Gujarat Mineral Development Corporation Limited (GMDCLTD.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-29.5%

₹302.23

vs ₹428.45 price

Levered DCF

₹169.94

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

4.88

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	18.82×	12.72×	19.97×	3.34×	13.53×	-49.33×	6.84×	11.9×
P/B	2.55×	1.36×	1.95×	0.69×	1.27×	0.43×	0.24×	0.61×
P/S	7.14×	3.06×	4.84×	1.15×	2.21×	1.31×	0.66×	1.39×
EV / EBITDA	12.8×	8.8×	13.53×	2.3×	6.8×	-5.97×	3.07×	5.28×
Gross margin	35.4%	34.2%	37.9%	47.2%	34.8%	17.4%	30.6%	64.9%
Operating margin	13.0%	19.8%	21.8%	36.0%	23.0%	-7.3%	2.4%	24.7%
Net margin	37.9%	24.1%	24.3%	34.4%	16.3%	-2.7%	9.6%	11.7%
Current ratio	4.14×	4.71×	4.73×	3.85×	3.96×	4.76×	5.46×	6.11×
Debt / equity	0.04×	0.02×	0×	0×	0×	0×	0×	0×
Interest coverage	46.09×	2,094.74×	528.3×	552.79×	190.28×	-50.1×	19.34×	307.33×
Dividend yield	1.8%	3.5%	3.1%	3.4%	0.1%	3.6%	7.6%	5.1%
Payout ratio	33.6%	44.3%	61.0%	11.4%	1.4%	-177.8%	52.3%	61.1%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	13.5%	10.7%	9.8%	20.8%	9.4%	-0.9%	3.4%	5.1%
Return on invested capital	3.0%	6.0%	5.9%	14.4%	6.5%	-0.2%	0.5%	5.3%
Return on assets	10.6%	8.8%	8.1%	17.4%	7.5%	-0.7%	2.8%	4.2%
Free cash flow yield	-0.6%	4.8%	-3.1%	22.5%	-4.2%	8.2%	-1.8%	1.2%
Earnings yield	5.3%	7.9%	5.0%	29.9%	7.4%	-2.0%	14.6%	8.4%
Enterprise value	₹177.8B	₹87.3B	₹119B	₹39.8B	₹59.7B	₹14.9B	₹9.1B	₹25.7B
Net debt / EBITDA	-0.16×	0.01×	-0.03×	-0.03×	-0.07×	1.06×	-0.32×	-0.1×
Cash conversion cycle (days)	-25	-17	-24	0	6	14	19	22