Gujarat Industries Power Co Ltd
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]
- Market Cap ₹ 2,196 Cr.
- Current Price ₹ 141
- High / Low ₹ 224 / 133
- Stock P/E 6.24
- Book Value ₹ 170
- Dividend Yield 2.89 %
- ROCE 16.2 %
- ROE 14.2 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.83 times its book value
- Company has been maintaining a healthy dividend payout of 19.9%
Cons
- The company has delivered a poor sales growth of 0.44% over past five years.
- Company has a low return on equity of 10.8% over last 3 years.
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Operating Profit |
| OPM % |
| Interest |
| Depreciation |
| Profit before tax |
| Tax % |
| EPS in Rs |
| Raw PDF |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|
| 1,416 | 1,377 | 1,215 | 1,352 | 1,311 | 1,354 | 1,407 | |
| 874 | 906 | 793 | 946 | 878 | 871 | 859 | |
| Operating Profit | 542 | 470 | 422 | 407 | 432 | 483 | 548 |
| OPM % | 38% | 34% | 35% | 30% | 33% | 36% | 39% |
| 74 | 31 | 25 | 36 | 69 | 51 | -23 | |
| Interest | 105 | 88 | 78 | 76 | 73 | 57 | 50 |
| Depreciation | 158 | 156 | 120 | 118 | 127 | 160 | 168 |
| Profit before tax | 353 | 257 | 248 | 250 | 301 | 318 | 307 |
| Tax % | 38% | 28% | 49% | 25% | 24% | 23% | 17% |
| 219 | 186 | 126 | 188 | 229 | 166 | 255 | |
| EPS in Rs | 14.47 | 12.30 | 8.35 | 12.45 | 15.16 | 10.98 | 16.84 |
| Dividend Payout % | 17% | 20% | 30% | 22% | 18% | 25% | 17% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 0% |
| 3 Years: | 1% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 14% |
| 3 Years: | 23% |
| TTM: | 112% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 5% |
| 5 Years: | 12% |
| 3 Years: | 21% |
| 1 Year: | -26% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 11% |
| Last Year: | 14% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 151 | 151 | 151 | 151 | 151 | 151 | 151 |
| Reserves | 1,463 | 1,605 | 1,685 | 1,882 | 2,085 | 2,229 | 2,419 |
| 855 | 716 | 606 | 475 | 417 | 617 | 573 | |
| 478 | 521 | 559 | 639 | 761 | 710 | 688 | |
| Total Liabilities | 2,947 | 2,992 | 3,002 | 3,148 | 3,414 | 3,707 | 3,831 |
| 2,133 | 1,991 | 1,890 | 1,977 | 2,522 | 2,680 | 2,632 | |
| CWIP | 83 | 87 | 99 | 35 | 24 | 6 | 167 |
| Investments | 69 | 160 | 207 | 250 | 280 | 249 | 90 |
| 662 | 755 | 806 | 886 | 588 | 773 | 942 | |
| Total Assets | 2,947 | 2,992 | 3,002 | 3,148 | 3,414 | 3,707 | 3,831 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|
| 407 | 398 | 342 | 232 | 433 | 331 | 582 | |
| 55 | -86 | -61 | -178 | -459 | -383 | -231 | |
| -237 | -272 | -230 | -228 | -161 | 103 | -142 | |
| Net Cash Flow | 225 | 40 | 50 | -174 | -187 | 51 | 208 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 44 | 59 | 39 | 72 | 69 | 70 | 56 |
| Inventory Days | |||||||
| Days Payable | |||||||
| Cash Conversion Cycle | 44 | 59 | 39 | 72 | 69 | 70 | 56 |
| Working Capital Days | -52 | -35 | -40 | 8 | -23 | -12 | -8 |
| ROCE % | 14% | 14% | 13% | 15% | 13% | 16% |
Documents
Announcements
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Regarding Special Window For Relodgment Of Transfer Request Of Physical Shares
16 Jan - Monthly SEBI-mandated report (31-Dec-2025): zero re-lodgement transfer requests received, processed, approved, or rejected.
-
Announcement under Regulation 30 (LODR)-Change in Management
8 Jan - Kamlesh Kumar Bhatt promoted to Executive Director (Finance) & CFO effective 01/01/2026.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
3 Jan - GIPCL: Certificate pursuant to Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
-
Announcement under Regulation 30 (LODR)-Change in Management
2 Jan - Naresh K. Purohit appointed Executive Director (Mines); Rajendra P. Paliwal promoted to GM, effective 01/01/2026.
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Announcement under Regulation 30 (LODR)-Change in Management
1 Jan - C S Jadeja reappointed Chief General Manager (Thermal) effective 01/01/2026.
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from nse
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Financial Year 2012
from bse
Concalls
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Nov 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptAI SummaryPPT
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Dec 2023TranscriptAI SummaryPPT
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Jun 2023TranscriptPPT
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Nov 2022TranscriptPPT
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Jun 2021TranscriptPPT
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.