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Gujarat Industries Power Company Ltd

₹ 143-1.35%
16 Jan – close price
🔗gipcl.com•BSE: 517300•NSE: GIPCL
Market Cap₹ 2,223 Cr.
Current Price₹ 143
High / Low₹ 224
Stock P/E11.8
Book Value₹ 228
Dividend Yield2.87 %
ROCE6.44 %
ROE6.19 %
Face Value₹ 10.0
Sales₹ 1,353 Cr.
OPM31.7 %
Mar Cap₹ 2,223 Cr.

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. ThermalGas- 2 projects in Vadodara with total 310 MW capacity.** Lignite** - 2 projects in Nani Naroli with total 500 MW capacity.

Also present in buckets:
Aggressive Growth TriggersExcellent ResultsAsset Base ExpansionCapacity Expansion And ProductsOrder Book PositionLarge Order ReceiptsRed Flags And Poor Performance

Peer Comparision

S.No.NameCurrent Price (Rs.)Price to EarningMarket Capitalization (Rs.Cr.)Dividend yield (%)Net Profit latest quarter (Rs.Cr.)YOY Quarterly profit growth (%)Sales latest quarter (Rs.Cr.)YOY Quarterly sales growth (%)Return on capital employed (%)Sales (Rs.Cr.)OPM (%)Profit after tax (Rs.Cr.)Profit after tax latest quarter (Rs.Cr.)Price to book valueReturn on assets (%)Debt to equity
1.NTPC346.3514.14335795.932.415225.30-3.9444785.820.189.95186754.3128.6423751.115066.781.754.261.33
2.Adani Green930.1069.92153187.480.00644.00102.553008.000.108.7012221.0081.162190.88658.147.852.324.52
3.JSW Energy492.8042.5786138.740.41824.27-17.415177.4259.916.4915949.0649.552023.68704.682.962.462.37
4.NHPC Ltd80.2225.4080551.542.381219.2813.493365.2610.277.4211212.7652.983171.331021.441.953.431.09
5.NTPC Green Ene.92.40128.3577893.240.0086.38130.26612.2921.524.892419.8587.48606.9087.594.151.311.16
6.NLC India257.3013.6435643.911.40724.80-27.064178.4114.2510.5116251.4826.032612.76665.121.794.681.22
7.SJVN76.4753.9630062.601.91307.80-30.201032.400.604.913125.2472.70557.11307.912.061.922.03
8.Guj Inds. Power142.7011.842222.622.8721.30-38.65321.4016.426.441353.1631.71187.7021.300.633.310.79
–Median: 25 Co.119.6525.667636.520.086.380.0634.313.217.422265.0131.76187.780.072.022.320.89

Quarterly Results

Standalone figures in ₹ crores

Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025
Sales
252376424342280354373320276322338372321
Expenses
177294299236218259254204195233219259214
Operating Profit
768212510662951191168189119113108
Other Income
1419918261617211715151921
Profit before tax
39498473365985864853867946
Tax %
32%31%22%21%21%21%22%21%27%27%18%28%54%
Net Profit
27346557284766683539705721
EPS in Rs
1.762.254.303.791.873.084.384.482.302.594.493.701.37

Profit & Loss

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales
1,3771,2151,3521,3111,3541,4071,3791,3351,1721,3561,3491,2561,353
Expenses
906793946878871859874911767948967850924
Operating Profit
470422407432483548505424406408381406429
Other Income
3125366951-10142302148766970
Interest
88787673575051312938373240
Depreciation
156120118127160168191155151165168170195
Profit before tax
257248250301317228305268247253253273264
Net Profit
186126188229244176248180171189199211188
EPS in Rs
12.298.3512.4515.1616.1711.6616.4011.8911.3312.4813.1213.6212.15
Dividend Payout %
20%30%22%18%17%25%18%23%22%30%30%30%–

Compounded Sales Growth

10 Years:0%
5 Years:-2%
3 Years:2%
TTM:2%

Compounded Profit Growth

10 Years:5%
5 Years:-3%
3 Years:7%
TTM:-13%

Stock Price CAGR

10 Years:6%
5 Years:12%
3 Years:19%
1 Year:-32%

Return on Equity

10 Years:8%
5 Years:6%
3 Years:6%
Last Year:6%

Balance Sheet

Standalone figures in ₹ crores

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital
151151151151151151151151151151151155155
Reserves
1,6051,6851,8822,0852,3082,4192,5972,7042,8933,0033,1543,3693,381
Borrowings
7166064754176175734474805294936142,0272,803
Other Liabilities
5215596397617106887347948308391,2982,0152,241
Total Liabilities
2,9923,0023,1483,4143,7863,8313,9304,1294,4034,4875,2187,5668,580
Fixed Assets
1,9911,8901,8592,5222,6802,6322,8832,6283,0562,9512,9812,8304,459
Gross Block
3,806.353,825.801,971.122,767.403,082.743,236.273,679.533,565.904,139.364,203.274,413.834,410.46–
Accumulated Depreciation
1,815.781,935.53112.13245.45403.17603.92796.22938.081,083.831,251.791,433.251,580.81–
CWIP
8741153246167529241754373,2662,336
Investments
160207250281328906088148106124106103
Other Assets
7548638855877729429821,1211,1581,3551,6781,3641,682
Total Assets
2,9923,0023,1483,4143,7863,8313,9304,1294,4034,4875,2187,5668,580

Cash Flows

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity
3984052324333375904451933624105621,127
Cash from Investing Activity
-86-124-178-459-389-239-113-231-340-128-217-2,665
Cash from Financing Activity
-272-230-228-161103-142-222-47-25-110-1901,397
Net Cash Flow
4050-174-18751209109-85-2172155-141

Ratios

Standalone Figures in ₹ Crores / Yearly

Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days
5939726970565181101837658
Inventory Days
––––––––––––
Days Payable
––––––––––––
Cash Conversion Cycle
5939726970565181101837658
Working Capital Days
-35-408-23-12-8386579865838
ROCE %
14%14%13%15%13%16%11%9%8%8%8%6%

Shareholding Pattern

Numbers in percentages

Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters
55.69%55.69%55.69%55.69%55.43%55.43%55.43%55.43%55.43%56.57%56.57%56.57%56.57%
FIIs
2.91%2.90%4.42%3.88%3.86%4.97%4.67%4.49%4.78%4.21%4.04%3.69%2.63%
DIIs
6.81%6.15%5.99%5.99%5.97%5.91%5.86%6.27%6.04%5.68%5.60%5.16%4.96%
Public
26.94%27.62%26.26%26.80%27.11%26.07%26.40%26.16%26.11%26.10%26.35%27.14%28.39%

* The classifications might have changed from Sep'2022 onwards.ℹ️

BSE Announcements AI Summary

Direct from BSE filings, auto-summarised

Gujarat Industries Power Company Ltd. Not Applicable for SEBI Large Corporate Disclosure

10th April 2026, 9:22 pm

GIPCL Notifies Non-Applicability of SEBI Large Corporate Disclosure Norms

10th April 2026, 9:10 pm

Gujarat Industries Power Company Ltd. Files SEBI Compliance Certificate for Q4 FY26

6th April 2026, 7:57 pm

Gujarat Industries Power shareholders approve director appointment and related party transactions with high majority

27th March 2026, 10:39 pm

Gujarat Industries Power Company Ltd. Announces Trading Window Closure from April 1, 2026

25th March 2026, 8:43 pm

Published by Other Websites

External media mentions & references

India's Solar Push: GIPCL vs. Orient Green Power

11th February 2026, 6:11 am

Gujarat Power Giant Surges: 600 MW Solar Power Project Fully Commissioned in Major Green Energy Push!

26th December 2025, 1:54 pm

Gujarat PSUs Show Mixed Stock Performance in First Half of FY25-26; GMDC Soars

2nd October 2025, 5:33 pm

Stocks in Focus: Torrent Power, Adani Power Secure Major Power Plant Orders; BHEL Signs Defense Tech Deal; Aurobindo Pharma Gets FDA Observations

1st September 2025, 7:35 am

Gujarat Industries Power Company Ltd Secures Rs 2,025 Crore Mining Contract

13th August 2025, 3:35 pm

News Articles

Editorial & research coverage

India's Solar Push: GIPCL vs. Orient Green Power
India's Solar Push: GIPCL vs. Orient Green Power

11th February 2026, 6:11 am

Gujarat Power Giant Surges: 600 MW Solar Power Project Fully Commissioned in Major Green Energy Push!
Gujarat Power Giant Surges: 600 MW Solar Power Project Fully Commissioned in Major Green Energy Push!

26th December 2025, 1:54 pm

Documents

Announcements

Regarding Special Window For Relodgment Of Transfer Request Of Physical Shares

8h - 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.

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.

Announcement under Regulation 30 (LODR)-Change in Management

1 Jan - C S Jadeja reappointed Chief General Manager (Thermal) effective 01/01/2026.

Annual Reports

Financial Year 2025

(from bse)

Financial Year 2024

(from bse)

Financial Year 2023

(from bse)

Financial Year 2022

(from bse)

Financial Year 2021

(from bse)

Financial Year 2020

(from bse)

Financial Year 2019

(from bse)

Financial Year 2018

(from bse)

Financial Year 2017

(from bse)

Financial Year 2016

(from bse)

Financial Year 2015

(from bse)

Financial Year 2014

(from bse)

Financial Year 2013

(from bse)

Financial Year 2012

(from nse)

Financial Year 2012

(from bse)

Credit Ratings

Rating update

2 Jul 2025 from care

Rating update

14 Nov 2024 from care

Rating update

4 Oct 2023 from care

Rating update

4 Oct 2022 from care

Rating update

25 Aug 2021 from care

Rating update

10 Sep 2020 from care

Concalls

Nov 2025

PPT

Nov 2024

PPT

Dec 2023

PPT

Jun 2023

Transcript

Nov 2022

Transcript

Jun 2021

Transcript

Stock Analysis

Description

  1. Gujarat Industries Power Company Ltd (GIPCL) is a Government of Gujarat company engaged in electrical power generation, operating thermal (gas and lignite), wind, and solar power plants with a diversified portfolio and an installed capacity of 1184.40MW.

Key Growth Triggers

  1. Aggressive expansion in renewable energy capacity, including significant progress on solar power projects at Khavda. Approval received for a new lignite-based power plant, indicating a focus on diversifying and expanding generation assets.

Order Book

  1. Currently no data available for Order Book.

Key Red Flags

  1. The company has shown poor sales growth over the past five years and a low return on equity over the last three years. There is also a possibility of interest cost capitalization.

Key Dates To Watch

  1. Currently no data available for Key Dates To Watch.

Corporate Announcements

10th Apr 26
Impact Rating: 8
Gujarat Industries Power Company Ltd. stated its credit rating is CARE AA-, below SEBI's AA threshold for Large Corporates, meaning it will not need to make initial or annual LC disclosures.
10th Apr 26
Impact Rating: 6
Gujarat Industries Power Company Ltd. informed the stock exchange it's not a Large Corporate, as its March 31, 2026 credit rating of CARE AA- is below SEBI's 'AA' threshold for annual disclosures.
6th Apr 26
Impact Rating: 4
Gujarat Industries Power Company Ltd. confirmed compliance with SEBI regulations for the fourth quarter ended March 31, 2026. This filing, via its registrar MUFG Intime India, covers the process of dematerialisation and share transfer agent operations.
27th Mar 26
Impact Rating: 7
Gujarat Industries Power Company Ltd. shareholders overwhelmingly approved the appointment of Shri Sanjay S. Bhatt as Director (99.99% votes in favour) and related party transactions for FY27 (99.93% votes in favour).
25th Mar 26
Impact Rating: 7
In line with SEBI regulations, Gujarat Industries Power Company Ltd. has closed its trading window for designated individuals and their relatives starting April 1, 2026. This halt on share dealings will end 48 hours after the company announces its Audited Financial Results for Q4 FY2025-26.