GMDC shares fell 3.53% to ₹442.55 on the BSE, a loss of ₹16.20, after the company announced a ₹9.50 per‑share dividend and FY26 profit of ₹990.81 crore, a 44% lift from ₹687.92 crore.
The board’s May 14 recommendation of ₹9.50 per equity share—face value ₹2—was ratified by shareholders at the 63rd AGM on September 30, cementing a total payout of ₹302.10 crore to all holders.
The FY26 profit includes an extraordinary ₹522.65 crore gain from input‑tax credit rationalisation on lignite, pushing net earnings to ₹990.81 crore. The dividend represents roughly 30% of profit, aligning with Gujarat’s policy for state‑owned enterprises.
Beyond lignite, GMDC is expanding into three Odisha coal blocks, copper and rare‑earth projects, and 205.9 MW of wind and solar capacity, diversifying its asset base amid a favorable regulatory climate.
Investors will watch the September‑quarter disclosure on October 30 to gauge whether the dividend policy and growth plans translate into sustained earnings momentum. The market anticipates a cautious stance as the company balances resource development with fiscal discipline.