Gujarat Pipavav Port Ltd

₹ 157 -0.47%

06 Jun - close price

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

Business Overview
The company has exclusive rights to develop and operate facilities of APM Terminals in Pipavav until September 2028, according to a concession agreement with the Gujarat Maritime Board and the government of Gujarat. It handles four types of cargo including container, dry bulk, liquid bulk, and RoRo. ^[1]

Website BSE NSE

Market Cap ₹ 7,614 Cr.
Current Price ₹ 157
High / Low ₹ 251 / 121
Stock P/E 19.1
Book Value ₹ 43.8
Dividend Yield 4.64 %
ROCE 24.9 %
ROE 19.0 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Stock is providing a good dividend yield of 4.64%.
Company has been maintaining a healthy dividend payout of 100%
Debtor days have improved from 24.3 to 17.6 days.

Cons

The company has delivered a poor sales growth of 6.08% over past five 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.

Peer comparison

Services Services Transport Infrastructure Port & Port services

Part of BSE 500 Nifty 500 BSE SmallCap BSE India Infrastructure Index BSE Allcap BSE 250 SmallCap Index BSE 400 MidSmallCap Index Nifty MidSmallcap 400 Nifty Smallcap 250 Nifty 500 Multicap 50:25:25 Nifty Total Market BSE Services

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	220	207	227	249	235	215	253	270	251	246	227	263	252
	92	95	106	109	105	109	102	110	94	96	94	124	95
Operating Profit	128	112	121	140	130	106	151	159	157	150	133	139	157
OPM %	58%	54%	53%	56%	55%	49%	60%	59%	63%	61%	58%	53%	62%
	13	-2	5	-1	11	14	25	19	-32	22	21	19	19
Interest	1	2	2	2	2	3	2	2	3	2	2	1	2
Depreciation	31	30	29	30	28	29	29	29	29	29	29	31	28
Profit before tax	109	77	95	108	111	89	145	147	93	140	123	126	146
Tax %	34%	26%	26%	26%	25%	26%	26%	25%	25%	25%	26%	25%	25%
	72	58	71	79	84	66	108	110	70	105	92	94	109
EPS in Rs	1.48	1.19	1.47	1.64	1.74	1.36	2.23	2.28	1.45	2.16	1.89	1.94	2.26
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2013	Mar 2015 15m	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	518	867	660	683	649	702	735	733	741	917	988	988
	261	365	278	262	275	313	289	311	331	414	415	410
Operating Profit	257	502	382	421	374	389	447	422	411	503	574	578
OPM %	50%	58%	58%	62%	58%	55%	61%	58%	55%	55%	58%	58%
	33	-5	24	33	37	45	51	44	26	13	25	81
Interest	37	26	0	0	0	0	7	6	5	8	9	6
Depreciation	61	83	97	107	104	113	131	133	129	116	116	117
Profit before tax	192	387	309	347	307	321	359	327	302	392	474	536
Tax %	0%	0%	38%	28%	35%	36%	18%	33%	36%	26%	25%	25%
	192	387	191	250	198	206	292	218	193	292	354	399
EPS in Rs	3.97	8.01	3.95	5.17	4.11	4.25	6.05	4.52	4.00	6.04	7.32	8.26
Dividend Payout %	0%	0%	48%	74%	83%	82%	93%	100%	100%	101%	100%	99%

Compounded Sales Growth
10 Years:	1%
5 Years:	6%
3 Years:	10%
TTM:	0%

Compounded Profit Growth
10 Years:	-1%
5 Years:	6%
3 Years:	27%
TTM:	2%

Stock Price CAGR
10 Years:	-2%
5 Years:	20%
3 Years:	26%
1 Year:	-17%

Return on Equity
10 Years:	13%
5 Years:	15%
3 Years:	18%
Last Year:	19%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	483	483	483	483	483	483	483	483	483	483	483	483
Reserves	920	1,307	1,513	1,536	1,531	1,538	1,601	1,549	1,549	1,595	1,609	1,635
	304	0	0	0	0	0	58	47	47	79	79	63
	159	200	282	331	296	348	282	363	442	479	526	498
Total Liabilities	1,867	1,991	2,279	2,351	2,310	2,369	2,426	2,442	2,522	2,637	2,698	2,681
	1,358	1,339	1,342	1,676	1,686	1,590	1,583	1,467	1,408	1,363	1,358	1,329
CWIP	106	65	392	92	32	45	6	53	49	95	81	83
Investments	83	83	83	83	83	83	83	83	83	83	83	83
	320	503	462	499	509	651	754	839	982	1,096	1,177	1,186
Total Assets	1,867	1,991	2,279	2,351	2,310	2,369	2,426	2,442	2,522	2,637	2,698	2,681

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	290	444	389	402	315	296	340	384	380	370	485	446
	-176	-207	-285	-241	-129	-122	-81	-101	-166	-82	-107	-56
	-54	-332	-0	-227	-204	-198	-250	-296	-220	-273	-370	-401
Net Cash Flow	60	-95	104	-66	-18	-25	8	-13	-6	15	8	-11

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	24	15	16	15	14	26	23	24	26	34	21	18
Inventory Days
Days Payable
Cash Conversion Cycle	24	15	16	15	14	26	23	24	26	34	21	18
Working Capital Days	-60	-31	-93	-101	-91	-69	-49	-64	-73	-45	-97	-96
ROCE %	13%	26%	17%	17%	15%	16%	18%	16%	15%	21%	25%	25%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%
	21.48%	21.87%	22.36%	21.90%	21.02%	20.12%	19.81%	18.31%	18.53%	19.81%	20.49%	19.45%
	20.50%	22.11%	21.54%	22.13%	22.66%	21.23%	20.01%	17.38%	17.04%	16.42%	16.75%	17.10%
	14.02%	12.00%	12.10%	11.98%	12.32%	14.65%	16.19%	20.31%	20.42%	19.77%	18.75%	19.44%
No. of Shareholders	1,34,969	1,42,931	1,46,078	1,39,831	1,40,258	1,61,167	1,69,217	2,15,960	2,26,625	2,43,604	2,30,147	2,37,378

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	43.01%	43.01%	43.01%	43.01%	44.01%	44.01%	44.01%	44.01%	44.01%
	36.91%	28.85%	24.06%	20.18%	21.38%	22.78%	21.90%	18.31%	19.45%
	13.34%	20.29%	24.47%	27.69%	24.12%	21.34%	22.13%	17.38%	17.10%
	6.74%	7.85%	8.46%	9.13%	10.50%	11.87%	11.98%	20.31%	19.44%
No. of Shareholders	48,313	51,495	49,355	49,199	71,757	1,20,405	1,39,831	2,15,960	2,37,378

* 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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