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Gujarat Mineral Development Corporation Ltd. Company History and Annual Growth Details

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, like refining of steel manufacturing of aluminium, hydrochloric acid, foundry flux and welding electrodes among others.

1970 - GMDC started commencing mining of lignite in Kutch district of Gujarat. By the early 70's the industrialization of Gujarat was on a rapid pace, which enforced heavy quantities of fuel to sustain the growth.

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. For the year 2001-02 on the basis of OPM criteria GMDC ranked 7th out of 100 companies and on the net profit basis it is ranked 111th out of 250 companies. Further for market capital it was ranked 186th out of 500 companies.

2003 - The financial closure for Akrimota Power Project has been achieved in March 2003. Against the requirement of Rs.1116 crores, financial institutions and Banks have pledged assistance for Rs.1400 crores.

- 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).


- GMDC had received a composite score of 6 out of a possible 15 in Industry 2.0's SCM Metrics study. The study examined trends in the Supply Chain Management (SCM) metrics of India's top 1,000 manufacturing companies.

- 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.


- 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.


- 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 and another one in Jainnagar, Hazaribaug district in the State of Jharkhand with 100 million tonnes of mineable reserves.

-GMDC sets up Tadkeshwer lignite mines


- 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. Further 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.2.

- The Company has splits its face value from Rs10/- to Rs2/-.


- 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.

Oct 25, 4:01 pm
Oct 25, 3:59 pm
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