Gujarat Mineral Development Corp. will hold a meeting of the Board of Directors of the Company on 26 July 2024.Powered by Capital Market - Live News

Gujarat Mineral Development Corp. announced that the Board of Directors of the Company at its meeting held on 27 May 2024, inter alia, have recommended the final dividend of Rs 9.55 per equity Share (i.e. 477.5%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Gujarat Mineral Development Corporation declined 53.15% to Rs 207.13 crore in the quarter ended March 2024 as against Rs 442.16 crore during the previous quarter ended March 2023. Sales declined 20.82% to Rs 750.75 crore in the quarter ended March 2024 as against Rs 948.19 crore during the previous quarter ended March 2023.For the full year,net profit declined 48.75% to Rs 617.24 crore in the year ended March 2024 as against Rs 1204.45 crore during the previous year ended March 2023. Sales declined 29.59% to Rs 2462.88 crore in the year ended March 2024 as against Rs 3497.88 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales750.75948.19 -21 2462.883497.88 -30 OPM %27.3541.08 -25.4338.22 - PBDT278.42628.17 -56 896.751730.44 -48 PBT257.41607.64 -58 818.021649.14 -50 NP207.13442.16 -53 617.241204.45 -49 Powered by Capital Market - Live News

Gujarat Mineral Development Corporation announced the appointment of Anupma K. Iyer, General Manager (A/cs) as the Chief Financial Officer and Key Managerial Personnel of the Company with effect from 11 March 2024.Powered by Capital Market - Live News

The Board of Directors of Gujarat Mineral Development Corporation (GMDC) have approved the Land and Resettlement & Rehabilitation (R&R) plan for its highest peak rated capacity (PRC) and one of India`s largest coal mines - �Baitarni-West� in Odisha. Coal as a critical energy source remains a significant part of India`s energy mix, the emphasis on a comprehensive Land and R&R plan indicates a balanced approach towards industrial development and ensuring energy security. This strategic decision spotlights GMDC`s commitment to the early operationalization of the mine, highlighting its pivotal role in enhancing the Odisha`s industrial prosperity and also contributing towards Gujarat`s energy security. After approval of the Board, GMDC shall move towards the opening of the coal mine with a PRC of 15 million tonnes per annum in Odisha. With this, a significant mineable reserve of 468 million tonnes in �Baitarni-West� would become one of the top 20 coal producing mines in the country in terms of annual production capacity, notably contributing towards Aatmanirbhar Bharat. GMDC`s focused approach towards the operationalization of the mine is evident with its plan for land acquisition and R&R activities in the concerned area. This comprehensive Land and R&R plan showcases company`s in-depth understanding of the socio-economic dynamics of the affected areas, aiming to deliver equitable benefits from the project to the local communities. The plan for the land acquisition comprises of govt. and private land with approximate area of 154.3 Ha and 199.86 Ha respectively. The R&R plan is being designed for 1500 nos. of affected families in the area. Key components of the Land and R&R plan are its robust compensation and employment framework, designed to support the long-term financial stability of affected families & landowners. Powered by Capital Market - Live News