Gujarat Pipavav Port Ltd

₹ 91.4 -0.71%
05 Dec 4:06 p.m.
About

Gujarat Pipavav Port is India's first private sector port located on the south west coast of Gujarat near Bhavnagar. The port is strategically placed to on International Maritime Trade route which connects India with US, Europe, Africa, Middle East on one side and Far east on the other side.

Key Points

Strong parent linkages
Gujarat Pipavav leverages the expertise, network, culture, and resources of its parent for establishing healthy business relations with its customers and shipping lines.

Maersk Line is one of the largest customers accounting for 28% of the revenues in FY21.

Gujarat Pipavav has immensely benefited due to access to modern technology, operational know-how and best industry practices due its close association with APM Terminals and its ultimate parent AP Moller Maersk Line which is part of A P Moller Maersk group. [1]

  • Market Cap 4,421 Cr.
  • Current Price 91.4
  • High / Low 104 / 70.3
  • Stock P/E 17.9
  • Book Value 42.3
  • Dividend Yield 4.37 %
  • ROCE 15.0 %
  • ROE 9.67 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 97.4%

Cons

  • The company has delivered a poor sales growth of 1.71% over past five years.
  • Company has a low return on equity of 11.5% 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
199 197 162 159 183 198 193 160 195 169 221 208 227
73 80 62 63 80 88 78 72 86 82 92 95 106
Operating Profit 127 117 100 96 103 110 116 88 109 87 129 113 121
OPM % 64% 60% 62% 60% 56% 55% 60% 55% 56% 51% 58% 54% 53%
12 11 12 11 13 8 9 -4 -2 17 12 -4 5
Interest 2 2 2 2 2 1 2 1 1 1 1 2 2
Depreciation 33 33 34 33 34 33 33 33 33 32 31 30 29
Profit before tax 104 93 76 72 81 84 90 50 73 71 109 77 95
Tax % 35% -29% 37% 35% 35% 35% 28% 35% 37% 38% 34% 26% 26%
Net Profit 68 120 48 46 52 54 65 32 46 44 72 58 71
EPS in Rs 1.40 2.49 0.99 0.96 1.08 1.12 1.35 0.67 0.94 0.91 1.48 1.19 1.47
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
284 396 416 518 867 660 683 649 702 735 733 744 825
170 213 234 261 365 278 262 275 313 289 311 331 375
Operating Profit 114 182 182 257 502 382 421 374 389 447 422 413 450
OPM % 40% 46% 44% 50% 58% 58% 62% 58% 55% 61% 58% 56% 55%
7 16 15 33 -5 24 33 37 45 51 44 24 31
Interest 127 85 68 37 26 0 0 0 0 7 6 5 6
Depreciation 49 56 55 61 83 97 107 104 113 131 133 129 122
Profit before tax -55 57 74 192 387 309 347 307 321 359 327 302 353
Tax % 0% 0% 0% 0% 0% 38% 28% 35% 36% 18% 33% 36%
Net Profit -55 57 74 192 387 191 250 198 206 292 218 193 244
EPS in Rs -1.29 1.35 1.53 3.97 8.01 3.95 5.17 4.11 4.25 6.05 4.52 4.00 5.05
Dividend Payout % 0% 0% 0% 0% 0% 48% 74% 83% 82% 93% 100% 100%
Compounded Sales Growth
10 Years: 7%
5 Years: 2%
3 Years: 2%
TTM: 11%
Compounded Profit Growth
10 Years: 13%
5 Years: -5%
3 Years: -2%
TTM: 18%
Stock Price CAGR
10 Years: 6%
5 Years: -8%
3 Years: 3%
1 Year: -9%
Return on Equity
10 Years: 12%
5 Years: 11%
3 Years: 12%
Last Year: 10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
424 424 483 483 483 483 483 483 483 483 483 483 483
Reserves 312 369 728 920 1,307 1,513 1,536 1,531 1,538 1,601 1,549 1,549 1,561
797 676 321 304 0 0 0 0 0 58 47 47 86
125 115 131 159 200 282 331 296 348 282 363 442 455
Total Liabilities 1,658 1,584 1,663 1,867 1,991 2,279 2,351 2,310 2,369 2,426 2,442 2,522 2,586
1,260 1,270 1,246 1,358 1,339 1,342 1,676 1,686 1,590 1,583 1,467 1,408 1,407
CWIP 30 9 158 106 65 392 92 32 45 6 53 49 75
Investments 83 83 83 83 83 83 83 83 83 83 83 83 83
285 222 177 320 503 462 499 509 651 754 839 981 1,021
Total Assets 1,658 1,584 1,663 1,867 1,991 2,279 2,351 2,310 2,369 2,426 2,442 2,522 2,586

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
89 61 262 290 444 389 402 315 296 340 384 380
-38 -1 -163 -176 -207 -285 -241 -129 -122 -81 -101 -166
64 -214 -89 -54 -332 -0 -227 -204 -198 -250 -296 -220
Net Cash Flow 115 -154 11 60 -95 104 -66 -18 -25 8 -13 -6

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Dec 2010 Dec 2011 Dec 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 38 30 34 24 15 16 15 14 26 23 24 26
Inventory Days
Days Payable
Cash Conversion Cycle 38 30 34 24 15 16 15 14 26 23 24 26
Working Capital Days -45 -15 -43 -60 -31 -93 -101 -91 -69 -49 -64 -78
ROCE % 5% 10% 10% 13% 26% 17% 17% 15% 16% 18% 16% 15%

Shareholding Pattern

Numbers in percentages

6 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
43.01 43.01 44.01 44.01 44.01 44.01 44.01 44.01 44.01 44.01 44.01 44.01
20.63 20.18 19.48 19.83 19.61 21.38 22.03 22.04 22.29 22.78 21.48 21.87
27.42 27.69 26.36 25.74 25.60 24.12 22.33 21.52 21.37 21.34 20.50 22.11
8.94 9.13 10.15 10.43 10.79 10.50 11.63 12.43 12.33 11.87 14.02 12.00

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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