India’s Top 3 Fastest-Growing Mining Stocks for 2025: Equitymaster Highlights Coal India, GMDC, Ashapura

India’s mining sector is set for long-term growth despite early 2025 volatility driven by US-China tariff tensions, according to SEBI-registered research firm Equitymaster Research. 

The firm highlighted Coal India, Gujarat Mineral Development Corporation (GMDC), and Ashapura Minechem as the top three fastest-growing mining stocks to monitor this year, citing strong fundamentals and exposure to clean energy and EV-related demand.

Coal India leads the list with a revenue compound annual growth rate (CAGR) of 19.5% and a profit CAGR of 43.3% between FY21 and FY24. 

The Maharatna PSU, which supplies over 80% of India’s coal, is diversifying into graphite mining and clean energy through a 3,000 MW solar project and coal gasification.

Gujarat Mineral Development Corporation (GMDC) saw 23.3% revenue growth over three years and a turnaround to profitability. 

The company is expanding lignite operations with three new mines and increasing supply to the textile industry, especially during monsoon seasons.

Ashapura Minechem, India’s top bentonite exporter and sixth largest globally, posted a revenue CAGR of 32.2% and a net profit CAGR of 47.7% over the same period. 

The company provides multi-mineral solutions and plans to ramp up production further.

Equitymaster noted the mining sector will benefit from India’s infrastructure push and steel capacity targets, with zinc demand expected to double over the next 5–10 years. 

However, the analyst cautioned that global commodity price volatility and geopolitical risks remain key challenges. 

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