Gujarat Mineral Development Corporation Ltd
NSE: GMDCLTD BSE: 532181
₹469.20
+43.60 (10.24%)
Sat, 07 Nov 2026, 03:40 pm
Market Cap (in Cr)13534.08
PE Ratio22.56
Dividend2.23
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24.5KGujarat Mineral Development Corporation Ltd Company History
1963
- Gujarat Mineral Development Corporation Limited, a government of Gujarat enterprise was incorporated with the objective to develop major mineral resources in the Gujarat.
1968
- A project was set up by GMDC, in the year 1968 that was beneficiation of fluorspar, a rare mineral essential for basic industries.
1970
- GMDC started commencing mining of lignite in Kutch district of Gujarat.
1984
- GMDC started mining operation at Rajpadri near Ankleshwar in 1984, and has been supplying lignite to majority of the textile industries from this mine.
2002
- GMDC Flares up gradation in the ranking amongst top PSU companies of India according to a survey conducted by ET500.
2003
- The financial closure for Akrimota Power Project has been achieved in March 2003.
- GMDC had ranked 112th in terms of excellence in business performance in the list of top manufacturing companies in India accumulated by Industry 2.0 and Investment Research and Information Services Ltd (IRIS).
2004
- GMDC had received a composite score of 6 out of a possible 15 in Industry 2.0's SCM Metrics study.
- According to the resolution came on Sept 23, among the 12 PSUs identified for the restructuring process in the Gujarat state GMDC is also included.
2005
- First unit of the Akrimota Power Project has been synchronized on 31st March 2005.
- Gujarat Mineral Development Corporation (GMDC) and Oil and Natural gas Corporation (ONGC) have joined hands to develop underground coal gasification (UGC) for power generation in Gujarat.
2006
- GMDC expanded its operations beyond the state from the year 2006.
- Ministry of Coal, Government of India had allotted to GMDC coal blocks with approximately 350 million tonnes of mineable reserves in Morga-II block of Korba district in the State of Chhatisgarh.
- GMDC sets up Tadkeshwer lignite mines.
2007
- The company had executed a MoU with Reliance Industries to set up a joint venture (51% RIL - 49% GMDC) to undertake lignite/coal gasification projects.
- The board of directors of the company at its meeting held on April 30, 2007, resolved to split the shares of the company in the ratio of 1:5 after necessary approvals.
- The Company has splits its face value from Rs10/- to Rs2/-.
2008
- GMCD had informed the market on January 31st 2008 that the company board has decided to recommend a bonus issue of shares in the ratio of 1:1.
2009
- Commencement of Wind Power of 19.5MW in 2009.
- The Corporation also went into harnessing the wind energy and commissioned 19.5 MW wind turbines near Malya in Kutch.
2010
- The Corporation first implemented ISO-9001 at Corporate office in 2010.
- The Corporation also embarked on a sophisticated Enterprise Resource Planning system in 2010 covering the whole ambit of mining operations throughout Gujarat.
2011
- GMDC has declared highest ever dividend of 150% for the F.Y. 2010-11
- GMDC Bhavan has been announced as the Best Government Building -Ahmedabad in best building category for the BIHED AWARDS 2011.
2012
- State-owned mining company Gujarat Mineral Development Corporation (GMDC) is looking for approximately 1,500 acres of land in Mandvi taluka at Kutch district to set up its alumina and smelter plant project in joint venture (JV) with National Aluminium Company (Nalco).
- Leading mining company Gujarat Mineral Development Corp (GMDC) has posted nearly three-fold jump in its net profit for the second quarter ended September 30, 2012 at Rs 168.81 crore.
2013
- GMDC has recommended a dividend of Rs. 3/- per share (150%) for the financial year 2012-13.
2014
- GMDC has recommended a dividend of Rs. 3 per share (150%) for the financial year 2013-14.
2015
- Lignite Mine opened at Umarsar, Kutch.
- Panadhro Lignite mine of GMDC has been the Winner of Lowest Injury Frequency Rate (LIFR) per Million Cum. Output > Coal Mines (Opencast) output > 10 million cubic meter (including overburden) for the year 2015.
2016
- Mata-no-madh Lignite mine of GMDC has been the Runner of Lowest Injury Frequency Rate (LIFR) per Million Cum. Output > Coal Mines (Opencast) output > 10 million cubic meter (including overburden) for the year 2016.
2018
- Gujarat Mineral Development Corporation Limited has informed the Exchange regarding Merger of Bhavnagar Energy Co. Ltd., with Gujarat State Electricity Corporation Ltd.
2023
- Company emerged as the highest bidder for Two Coal Mines in Odisha in the recently concluded commercial coal block auction by the Ministry of Coal, Government of India.
- GMDC has won the bids for Odisha's Burapahar Block in Sundargarh District, having a Geological Reserve of 548 million Tonnes.
- GMDC has won the bids for the Baitarani (West) Block in Angul District, a geological reserve of 1152 million Tonnes.
2024
- GMDC Successfully executed Coal Mining Development and Production Agreement with Ministry of Coal for Kudanali-Lubri Coal Mine in Odisha.
- GMDC Amendment to Power Purchase Agreement between GMDC's Akrimota Thermal Power Station and GUVNL.
