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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.
Business OverviewThe 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]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market 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 value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Adani Ports | 1505.60 | 27.10 | 325230.52 | 0.46 | 3120.20 | 25.07 | 9167.46 | 29.72 | 13.80 | 34745.59 | 59.41 | 12001.54 | 3109.05 | 4.85 | 8.59 | 0.85 |
| 2. | JSW Infrast | 268.45 | 35.57 | 56374.54 | 0.30 | 368.81 | -2.76 | 1265.59 | 26.39 | 13.92 | 4954.45 | 48.80 | 1585.05 | 361.24 | 5.52 | 9.55 | 0.52 |
| 3. | Guj Pipavav Port | 185.88 | 20.90 | 8986.18 | 4.41 | 158.31 | 37.83 | 299.35 | 31.85 | 24.89 | 1064.46 | 58.38 | 429.87 | 126.11 | 4.13 | 14.85 | 0.02 |
| 4. | Allcargo Termi | 25.91 | 23.81 | 756.21 | 0.00 | 11.30 | -3.44 | 207.16 | 6.29 | 11.59 | 767.68 | 18.36 | 31.76 | 11.30 | 2.45 | 3.75 | 2.09 |
| 5. | VMS Industries | 28.63 | 10.98 | 70.07 | 1.75 | 0.47 | -34.72 | 42.58 | -56.31 | 12.14 | 167.88 | 3.43 | 6.38 | 0.47 | 0.72 | 4.21 | 0.25 |
| 6. | Starlog Enterp. | 38.74 | – | 57.98 | 0.00 | -3.45 | -275.96 | 2.03 | -39.58 | -2.00 | 12.91 | -18.28 | -5.96 | -2.70 | 0.82 | -2.01 | 0.01 |
| – | Median: 4 Co. | 227.16 | 25.45 | 32680.36 | 0.38 | 263.56 | 11.16 | 782.47 | 28.05 | 13.86 | 3009.45 | 53.59 | 1007.46 | 243.68 | 4.49 | 9.07 | 0.69 |
Standalone figures in ₹ crores
| Dec 2022 | Dec 2023 | Dec 2024 | Jun 2023 | Jun 2024 | Jun 2025 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2022 | Sep 2023 | Sep 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 249 | 270 | 263 | 215 | 246 | 250 | 235 | 251 | 252 | 227 | 253 | 227 | 299 |
Expenses | 109 | 110 | 124 | 109 | 96 | 102 | 105 | 94 | 95 | 106 | 102 | 94 | 122 |
Operating Profit | 140 | 159 | 139 | 106 | 150 | 148 | 130 | 157 | 157 | 121 | 151 | 133 | 178 |
Other Income | -1 | 19 | 19 | 14 | 22 | 20 | 11 | -32 | 19 | 5 | 25 | 21 | 67 |
Profit before tax | 108 | 147 | 126 | 89 | 140 | 135 | 111 | 93 | 146 | 95 | 145 | 123 | 212 |
Tax % | 26% | 25% | 25% | 26% | 25% | 25% | 25% | 25% | 25% | 26% | 26% | 26% | 25% |
Net Profit | 79 | 110 | 94 | 66 | 105 | 101 | 84 | 70 | 109 | 71 | 108 | 92 | 158 |
EPS in Rs | 1.64 | 2.28 | 1.94 | 1.36 | 2.16 | 2.08 | 1.74 | 1.45 | 2.26 | 1.47 | 2.23 | 1.89 | 3.27 |
Standalone Figures in ₹ Crores / Yearly
| Dec 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 518 | 867 | 660 | 683 | 649 | 702 | 735 | 733 | 741 | 917 | 988 | 988 | 1,064 |
Expenses | 261 | 365 | 278 | 262 | 275 | 313 | 289 | 311 | 331 | 414 | 415 | 410 | 443 |
Operating Profit | 257 | 502 | 382 | 421 | 374 | 389 | 447 | 422 | 411 | 503 | 574 | 578 | 621 |
Other Income | 33 | -5 | 24 | 33 | 37 | 45 | 51 | 44 | 26 | 13 | 25 | 81 | 125 |
Interest | 37 | 26 | 0 | 0 | 0 | 0 | 7 | 6 | 5 | 8 | 9 | 6 | 6 |
Depreciation | 61 | 83 | 97 | 107 | 104 | 113 | 131 | 133 | 129 | 116 | 116 | 117 | 122 |
Profit before tax | 192 | 387 | 309 | 347 | 307 | 321 | 359 | 327 | 302 | 392 | 474 | 536 | 619 |
Net Profit | 192 | 387 | 191 | 250 | 198 | 206 | 292 | 218 | 193 | 292 | 354 | 399 | 462 |
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 | 9.55 |
Dividend Payout % | 0% | 0% | 48% | 74% | 83% | 82% | 93% | 100% | 100% | 101% | 100% | 99% | – |
Standalone figures in ₹ crores
| Dec 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 483 | 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 | 1,691 |
Borrowings | 304 | 0 | 0 | 0 | 0 | 0 | 58 | 47 | 47 | 79 | 79 | 63 | 51 |
Other Liabilities | 159 | 200 | 282 | 331 | 296 | 348 | 282 | 363 | 442 | 479 | 526 | 498 | 475 |
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 | 2,699 |
Fixed Assets | 1,358 | 1,339 | 1,342 | 1,676 | 1,686 | 1,590 | 1,583 | 1,467 | 1,408 | 1,363 | 1,358 | 1,329 | 1,342 |
Gross Block | – | 1,981.48 | 1,439.36 | 1,878.03 | 1,991.24 | 2,007.58 | 2,111.52 | 2,105.99 | 2,153.11 | 2,198.84 | 2,273.35 | 2,338.21 | – |
Accumulated Depreciation | – | 642.15 | 96.99 | 201.85 | 304.96 | 417.52 | 528.99 | 638.73 | 744.90 | 835.69 | 915.27 | 1,009.42 | – |
CWIP | 106 | 65 | 392 | 92 | 32 | 45 | 6 | 53 | 49 | 95 | 81 | 83 | 26 |
Investments | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 | 83 |
Other Assets | 320 | 503 | 462 | 499 | 509 | 651 | 754 | 839 | 982 | 1,096 | 1,177 | 1,186 | 1,248 |
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 | 2,699 |
Standalone Figures in ₹ Crores / Yearly
| Dec 2013 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 290 | 444 | 389 | 402 | 315 | 296 | 340 | 384 | 380 | 370 | 485 | 446 |
Cash from Investing Activity | -176 | -207 | -285 | -241 | -129 | -122 | -81 | -101 | -166 | -82 | -107 | -56 |
Cash from Financing Activity | -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 |
Standalone Figures in ₹ Crores / Yearly
| 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 | -59 | -75 | -79 | -52 | -106 | -105 |
ROCE % | 13% | 26% | 17% | 17% | 15% | 16% | 18% | 16% | 15% | 21% | 25% | 25% |
Direct from BSE filings, auto-summarised
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