GMDC Reports Strong Q2FY26 Standalone PBT of ₹634 crore, Driven by Exceptional GST ITC Gain
GMDC's Q2FY26 standalone PBT hit ₹634 crore, boosted by a ₹474 crore exceptional GST Input Tax Credit write-back. Revenue and EBITDA declined, but bauxite sales showed growth.
The exceptional income of ₹474 crore had a material impact, leading to a PBT that is more than three times higher than the previous year's corresponding quarter. This significant boost in profitability is likely to attract high investor attention.
The reported Profit Before Tax (PBT) for Q2FY26 and H1FY26 saw a substantial increase, making the overall financial performance appear very strong. This was primarily driven by a significant one-time exceptional income from GST Input Tax Credit write-back.
Gujarat Mineral Development Corporation Ltd. (GMDC) announced its standalone financial results for the quarter and half year ended September 30, 2025 (Q2FY26 and H1FY26). The company reported: * Q2FY26 Standalone Financial Highlights: * Revenue from Operations stood at ₹528 crore, down from ₹593 crore in Q2FY25. * EBITDA was ₹182 crore, compared to ₹203 crore in Q2FY25, with an EBITDA margin of 29%. * Other Income increased to ₹109 crore from ₹62 crore in Q2FY25. * The company recorded an Exceptional Income of ₹474 crore due to a one-time write-back of GST Input Tax Credit. * Profit Before Tax (PBT) significantly rose to ₹634 crore, up from ₹183 crore in Q2FY25, primarily due to the exceptional gain. * H1FY26 Standalone Financial Highlights: * Revenue from Operations was ₹1,260 crore, down from ₹1,411 crore in H1FY25. * EBITDA stood at ₹428 crore, down from ₹474 crore in H1FY25. * Other Income increased to ₹186 crore from ₹122 crore in H1FY25. * PBT for the half year was ₹859 crore, materially stronger than ₹432 crore in H1FY25, also reflecting the exceptional income. * Q2FY26 Operational Performance (Mining): * Lignite sales volume was 15.0 lakh MT (down from 16.6 lakh MT in Q2FY25), with a sales value of ₹467 crore. * Bauxite sales volume increased to 0.8 lakh MT (from 0.4 lakh MT in Q2FY25), with a sales value of ₹23 crore. * Management Commentary: * Shri Roopwant Singh, IAS, Managing Director, stated that the quarter reflects stable performance despite limited monsoon impact. He highlighted that the one-time GST input strengthened financials, and the focus remains on operational discipline and long-term value creation, advancing mining initiatives and improving productivity.
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