DECCAN GOLD MINES LTD.
P&L
Quarterly Consolidated
vs Q3 FY26
Deccan Gold Mines reports FY26 consolidated loss of ₹73.17 Cr; Geomysore profitable
14 May 2026 · 14 May, 6:32 pm
Summary
Deccan Gold Mines Limited announced a standalone loss of ₹13.18 crore and a consolidated loss of ₹73.17 crore for FY26, primarily driven by investments and operational ramp-up expenses at its Kyrgyzstan subsidiary, Avelum Partners LLC. Despite this, the consolidated performance received substantial support from its associate company, Geomysore Services India Pvt. Ltd., which achieved a profit of ₹28.81 crore from gold sales during the year, contributing ₹7.49 crore to Deccan Gold's consolidated share. The company is strategically advancing its Altyn Tor Gold Project in Kyrgyzstan, deploying ₹32.53 crore in Q4 FY26, with full-scale production anticipated from August 2026. Management highlighted FY26 as a pivotal year, transitioning from an exploration-led to a production-oriented mining platform, positioning the company for long-term growth and expecting a positive impact on future consolidated financials from the Altyn Tor project.
Key Highlights
- 1
Deccan Gold Mines reported a standalone loss of ₹13.18 crore and a consolidated loss of ₹73.17 crore for FY26, largely due to investments and ramp-up costs.
- 2
Associate company Geomysore Services India Pvt. Ltd. reported a profit of ₹28.81 crore from gold sales in FY26, contributing ₹7.49 crore to Deccan Gold’s consolidated profit share.
- 3
The subsidiary Avelum Partners LLC, Kyrgyzstan, recorded a loss of ₹37.80 crore in FY26 as it progressed toward commercial production.
- 4
During Q4 FY26, the Company deployed ₹32.53 crore towards the Altyn Tor Gold Project in Kyrgyzstan, targeting full-scale commercial operations from August 2026.
- 5
Deccan Gold undertook significant deleveraging in Q4 FY26, repaying loans worth ₹211.57 crore and substantially strengthening its balance sheet.
- 6
The Company increased its stake in Geomysore Services to 26% during Q4 FY26, raising the carrying value of its investment to ₹190.54 crore as of March 31, 2026.
- 7
FY26 marked Deccan Gold's strategic transition toward production-linked growth across its gold and critical minerals portfolio.
Management Comments
Dr. Hanuma Prasad Modali
FY26 marks a pivotal transition for Deccan Gold from an exploration-led company to an emerging production-oriented mining platform with diversified exposure across gold and critical minerals. While the year reflected continued investments and project ramp-up costs, it also marked the beginning of production-linked value creation across our portfolio. The operational progress at Jonnagiri and the profitability reported by our associate company reinforce the long-term potential of our strategic investments. Equally important is the steady progress at the Altyn Tor Gold Project in Kyrgyzstan as it advances toward full-scale commercial production. At a time when resource security, domestic production capabilities, and critical minerals are becoming strategically important globally, Deccan Gold is well pos
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