To use excess cash of Rs 1100 cr for tech upgradation:GMDC
May. 10, 2017
Gujrat Mineral Development Corporation (GMDC)'s CFO said co. had good earnings.(GST),would be beneficial for co.Co. is paying 30% as blended tax rate,is expected to be 12-18%.He said lignite sales volumes at 76.5 lakh tonne in FY17. Co. has cash balance of Rs 1,100 cr,excess cash to be used for technology upgradation,land acquisition,developing new mines & used for renewable energy business.