The company reported EBITDA margin reduced to 30% during the quarter as against 31% in the same quarter the previous year.

On the segmental front, revenue from mining was at Rs 685.24 crore (down 11.04% YoY), and revenue from power stood at Rs 47.36 crore (down 31.37% YoY) during the period under review.

GMDC’s lignite sales dropped 13.91% YoY to 19.8 lakh MT in Q1 FY26 from 23 lakh MT in Q1 FY25. Lignite value declined 13.81% to Rs 649 crore from Rs 753 crore YoY.

Roopwant Singh, IAS, MD, GMDC, said, 'GMDC has delivered a steady performance in Q1FY26, with strong margins and healthy profitability despite a dip in revenue. We continue to focus on cost efficiency, operational discipline, and timely execution of key projects. Our efforts remain aligned with long-term value creation and supporting the nation's energy and mineral needs.'

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; the company markets it to various high-growth industries, including textiles, chemicals, ceramics, bricks, and captive power.