GMDCLTD

capex plan and future outlook

➮ Gujarat Mineral Development Corporation (

) has outlined a ₹13,000 crore capex roadmap through 2030, signaling its intent to play a bigger role in India’s resource security. ➮ The plan allocates significant investment towards critical minerals like copper and rare earths, alongside coal and lignite projects, placing GMDC in a strategic position as demand for these resources rises across clean energy, electronics, and defense sectors. ➮ The company expects to spend ₹1,500–2,000 crore annually, with higher outlays in select years. ➮ Importantly, GMDC is funding this largely through its ₹2,000 crore reserves and state-backed credit, avoiding debt in the near term. Debt is only likely from FY’27 onwards, providing balance sheet comfort for investors. ➮ While commercialization timelines extend a few years ahead, management’s guidance that it is “not too long into the future” underlines progress.