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18-Jul-2025 14:49
GMDC rallies amid rare-earth magnet policy developments
This development follows industry concerns about supply disruptions, as several companies flagged informal restrictions by China on rare earth exports. In response, the government is reportedly considering a Rs 1,345 crore incentive scheme to support domestic rare-earth magnet manufacturing and may relax motor import norms to mitigate production risks in the automotive sector.
GMDC's board will consider Q1 results on 25 July 2025. On a consolidated basis, GMDC's net profit rose 20.82% to Rs 226.22 crore while net sales rose 4.80% to Rs 786.28 crore in Q4 March 2025 over Q4 March 2024.
GMDC is India's second-largest Lignite-producing company and top merchant seller of Lignite. It is a State Public Undertaking of the Government of Gujarat. The company is engaged in mining lignite from deposit-rich areas across the state, company markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks and captive power.
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