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HDFC Securities Retail Research
Gujarat Mineral Development Corporation Ltd. is one of India’s leading mining and mineral processing companies. It is India’s second largest lignite-producing company.
The company is also involved in the exploration of bauxite, fluorspar, manganese, silica sand, limestone, bentonite and ball clay and also has a sizeable presence in energy sector.
In FY22, GMDC posted its best ever annual results over the last five years and the second best in the company’s life so far after posting a shocking net loss in FY21.
GMDC has embarked on a major transformative exercise to change its fortunes and has roped in four top global management consulting firms- Boston Consulting Group, McKinsey & Co, AT Kearney and Deloitte to achieve its targeted objectives, production diversity and increased profitability.
Being the only miner of lignite in Gujarat places it is at an advantageous position with regards to its customers.
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