Company Overview

Deccan Gold Mines Limited filed its Integrated Annual Report for FY 2025-26 and notice of the 42nd Annual General Meeting, complying with SEBI Listing Regulations 30 and 34. The document covers consolidated financial results, operational milestones, and corporate governance updates.

Financial Performance

FY26 Consolidated Results:

  • Net Loss: ₹760.72 million (₹644.56 million attributable to owners)
  • Total Revenue: ₹372.158 million
  • Total Expenses: ₹504.911 million
  • Total Comprehensive Loss: ₹731.70 million
  • Basic EPS: ₹(3.06)

Balance Sheet Position (March 31, 2026):

  • Total Assets: ₹5,628.03 million (40% increase YoY)
  • Property, Plant & Equipment: ₹323.87 million
  • Capital Work in Progress: ₹728.02 million
  • Investments: ₹1,918.21 million
  • Cash & Equivalents: ₹105.20 million
  • Equity Share Capital: ₹197.90 million (increased from rights issue)
  • Other Equity: ₹4,761.55 million

Capital Raising & Debt Management

The company completed a ₹3.147 billion rights issue in December 2025, issuing 39.337 million equity shares at ₹80 per share. Proceeds were utilized to:

  • Fully repay secured borrowings of ₹972.50 million
  • Advance loans to subsidiaries totaling ₹1.274 billion for project development
  • Make investments in associate companies including Geomysore Services (₹2.151 billion) and Kalevala Gold Oy (₹61.554 million)

Operational Highlights

Altyn Tor Gold Project (Kyrgyzstan - 60% via Avelum):

  • Produced first gold doré in August 2026 through newly installed Intensive Leach System
  • Mineral Resources: 4.65 Mt at 1.21 g/t Au for 180 koz gold
  • Full plant commissioning scheduled for September/October 2026

Jonnagiri Gold Project (India - 26% via GMSI):

  • Inaugurated by Andhra Pradesh Chief Minister in June 2026
  • Q1 FY27 production: 112.683 kg doré, generating revenue of ₹871.602 million and PAT of ₹256.295 million
  • Current capacity: 1,000 tpd ore processing, expansion to 2,500 tpd planned

Bhalukona-Jamnidih Ni-Cr-PGE Project (India):

  • First nickel discovery in India with 3 mineralized gabbro layers over 60m thickness
  • Best intercepts: 2.6m at 1.01% Ni, 0.29% Cu, 0.2g/t Pd
  • 2,500m drilling completed with assays pending for 11 holes

International Expansion:

  • Logrosan Tungsten Project (Spain): Acquired 51% stake through EUR 1.76 million investment with significant tungsten intersections
  • Finland (Kalevala Gold Oy): Three gold projects with exploration targets of 80,000-150,000 tonnes at 4-12 g/t Au
  • Mozambique: Lithium-tantalum and copper-gold projects through Deccan Gold FZCO subsidiaries

Corporate Governance & Board Changes

  • Board Composition: Two director retirements (Kailasam Sundaram, Deepthi Donkeshwar) and appointment of Pandarinathan Elango as Chairperson in August 2026
  • ESOP Transactions: 5.05 million stock options vested during FY26, with 950,000 options exercised
  • AGM Proposals: Approval sought for material related party transactions up to ₹1.15 billion with subsidiaries and associates
  • Auditor Reports: Unqualified opinions from statutory and secretarial auditors, with emphasis on ₹19.016 billion loan to Avelum Partner LLC

Regulatory Compliance & Future Outlook

The company maintains compliance with SEBI Listing Regulations, Companies Act 2013, and secretarial standards. The rights issue strengthened the balance sheet, enabling debt elimination and funding for international expansion across gold and critical minerals projects. Operational progress at multiple sites positions the company for potential revenue growth despite current losses.