Gujarat Industries Power Co Ltd

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Gujarat Industries Power Co Ltd

₹ 185 -1.73%
14 Aug - close price
gipcl.com BSE: 517300 NSE: GIPCL
About

Incorporated in 1985, Gujarat Industries is a Public Limited company of the Government of Gujarat.
The company is engaged in the business of Electrical Power Generation with a present installed generation capacity of 1184.40MW. The Company has a diversified portfolio of Thermal (Gas and Lignite), Wind, and Solar Power Plant Assets in the State of Gujarat.[1]

Key Points

Projects[1]
1. Thermal
Gas - 2 projects in Vadodara with total 310 MW capacity.
** Lignite** - 2 projects in Nani Naroli with total 500 MW capacity.

Website BSE NSE
  • Market Cap ₹ 2,873 Cr.
  • Current Price ₹ 185
  • High / Low ₹ 268 / 148
  • Stock P/E 14.3
  • Book Value ₹ 227
  • Dividend Yield 2.13 %
  • ROCE 6.44 %
  • ROE 6.19 %
  • Face Value ₹ 10.0
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Pros

  • Stock is trading at 0.82 times its book value
  • Company has been maintaining a healthy dividend payout of 29.8%
  • Company's working capital requirements have reduced from 60.7 days to 37.5 days

Cons

  • The company has delivered a poor sales growth of -1.84% over past five years.
  • Company has a low return on equity of 6.14% over last 3 years.
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Utilities Power Power Power Generation

Part of BSE SmallCap BSE Allcap BSE Utilities

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025
303 252 376 424 342 280 354 373 320 276 322 338 372
178 177 294 299 236 218 259 254 204 195 233 219 259
Operating Profit 125 76 82 125 106 62 95 119 116 81 89 119 113
OPM % 41% 30% 22% 29% 31% 22% 27% 32% 36% 29% 28% 35% 30%
6 14 19 9 18 26 16 17 21 17 15 15 19
Interest 9 9 10 10 9 10 9 9 9 8 8 7 7
Depreciation 41 41 42 41 42 42 42 42 42 43 43 42 46
Profit before tax 81 39 49 84 73 36 59 85 86 48 53 86 79
Tax % 23% 32% 31% 22% 21% 21% 21% 22% 21% 27% 27% 18% 28%
63 27 34 65 57 28 47 66 68 35 39 70 57
EPS in Rs 4.16 1.76 2.25 4.30 3.79 1.87 3.08 4.38 4.48 2.30 2.59 4.49 3.70
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
1,377 1,215 1,352 1,311 1,354 1,407 1,379 1,335 1,172 1,356 1,349 1,256 1,308
906 793 946 878 871 859 874 911 767 948 967 850 905
Operating Profit 470 422 407 432 483 548 505 424 406 408 381 406 403
OPM % 34% 35% 30% 33% 36% 39% 37% 32% 35% 30% 28% 32% 31%
31 25 36 69 51 -101 42 30 21 48 76 69 67
Interest 88 78 76 73 57 50 51 31 29 38 37 32 30
Depreciation 156 120 118 127 160 168 191 155 151 165 168 170 174
Profit before tax 257 248 250 301 317 228 305 268 247 253 253 273 266
Tax % 28% 49% 25% 24% 23% 23% 19% 33% 31% 26% 21% 23%
186 126 188 229 244 176 248 180 171 189 199 211 201
EPS in Rs 12.29 8.35 12.45 15.16 16.17 11.66 16.40 11.89 11.33 12.48 13.12 13.62 13.08
Dividend Payout % 20% 30% 22% 18% 17% 25% 18% 23% 22% 30% 30% 29%
Compounded Sales Growth
10 Years: 0%
5 Years: -2%
3 Years: 2%
TTM: -1%
Compounded Profit Growth
10 Years: 5%
5 Years: -3%
3 Years: 7%
TTM: -4%
Stock Price CAGR
10 Years: 8%
5 Years: 20%
3 Years: 29%
1 Year: -12%
Return on Equity
10 Years: 8%
5 Years: 6%
3 Years: 6%
Last Year: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 151 151 151 151 151 151 151 151 151 151 151 155
Reserves 1,605 1,685 1,882 2,085 2,308 2,419 2,597 2,704 2,893 3,003 3,154 3,369
716 606 475 417 617 573 447 480 529 493 614 2,027
521 559 639 761 710 688 734 794 830 839 1,298 2,015
Total Liabilities 2,992 3,002 3,148 3,414 3,786 3,831 3,930 4,129 4,403 4,487 5,218 7,566
1,991 1,890 1,859 2,522 2,680 2,632 2,883 2,628 3,056 2,951 2,981 2,830
CWIP 87 41 153 24 6 167 5 292 41 75 437 3,266
Investments 160 207 250 281 328 90 60 88 148 106 124 106
754 863 885 587 772 942 982 1,121 1,158 1,355 1,678 1,364
Total Assets 2,992 3,002 3,148 3,414 3,786 3,831 3,930 4,129 4,403 4,487 5,218 7,566

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
398 405 232 433 337 590 445 193 362 410 562 1,127
-86 -124 -178 -459 -389 -239 -113 -231 -340 -128 -217 -2,665
-272 -230 -228 -161 103 -142 -222 -47 -25 -110 -190 1,397
Net Cash Flow 40 50 -174 -187 51 209 109 -85 -2 172 155 -141

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 59 39 72 69 70 56 51 81 101 83 76 58
Inventory Days 159
Days Payable 59
Cash Conversion Cycle 59 39 72 69 70 56 51 81 101 83 76 158
Working Capital Days -35 -40 8 -23 -12 -8 38 65 79 86 58 38
ROCE % 14% 14% 13% 15% 13% 16% 11% 9% 8% 8% 8% 6%

Shareholding Pattern

Numbers in percentages

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025
55.69% 55.69% 55.69% 55.69% 55.69% 55.43% 55.43% 55.43% 55.43% 55.43% 56.57% 56.57%
2.76% 2.91% 2.90% 4.42% 3.88% 3.86% 4.97% 4.67% 4.49% 4.78% 4.21% 4.04%
8.48% 6.81% 6.15% 5.99% 5.99% 5.97% 5.91% 5.86% 6.27% 6.04% 5.68% 5.60%
7.64% 7.64% 7.64% 7.64% 7.64% 7.64% 7.64% 7.64% 7.64% 7.64% 7.45% 7.45%
25.42% 26.94% 27.62% 26.26% 26.80% 27.11% 26.07% 26.40% 26.16% 26.11% 26.10% 26.35%
No. of Shareholders 73,44072,83272,25267,85874,80282,41299,34697,72996,40991,13393,48092,374

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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