MarketFriction

Gujarat Industries Power Co Ltd

NSE GIPCL · BSE 517300 · Power Generation
₹174.83 -2.70%
NSE close2026-10-01
52 week range119.90 - 211.71
Market cap₹2,826 Cr.
P/E5.62
Price band 20% Delivery 53.8%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales280354373320276322338372321370428499
Expenses218259254204195233219259214248233258
Operating Profit62951191168189119113108122195242
OPM %22%27%32%36%29%28%35%30%34%33%46%48%
Other Income2616172117151519211342112
Interest10999887718364951
Depreciation424242424343424664789091
Profit before tax3659858648538679462198211
Tax %21%21%22%21%27%27%18%28%54%115%-234%25%
Net Profit284766683539705721-3327158
EPS in Rs1.873.084.384.482.302.594.493.701.37-0.2121.0610.17
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,3521,3111,3541,4071,3791,3351,1721,3561,3491,2561,4911,619
Expenses946878871859874911767948967850953952
Operating Profit407432483548505424406408381406538667
OPM %30%33%36%39%37%32%35%30%28%32%36%41%
Other Income366951-10142302148766995188
Interest76735750513129383732111155
Depreciation118127160168191155151165168170278323
Profit before tax250301317228305268247253253273245377
Tax %25%24%23%23%19%33%31%26%21%23%-64%
Net Profit188229244176248180171189199211402503
EPS in Rs12.4515.1616.1711.6616.4011.8911.3312.4813.1213.6225.9332.39
Dividend Payout %22%18%17%25%18%23%22%30%30%30%16%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth1%2%3%24%
Compounded Profit Growth8%17%29%150%
Stock Price CAGR8%16%9%-1%
Return on Equity8%7%8%11%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital151151151151151151151151151151155155
Reserves1,6851,8822,0852,3082,4192,5972,7042,8933,0033,1543,3693,685
Borrowings6064754176175734474805294936142,0283,594
Other Liabilities5596397617106887347948308391,2982,0151,992
Total Liabilities3,0023,1483,4143,7863,8313,9304,1294,4034,4875,2187,5679,426
Fixed Assets1,8901,8592,5222,6802,6322,8832,6283,0562,9512,9812,8306,018
CWIP41153246167529241754373,2662,066
Investments20725028132890608814810612410696
Other Assets8638855877729429821,1211,1581,3551,6781,3661,245
Total Assets3,0023,1483,4143,7863,8313,9304,1294,4034,4875,2187,5679,426
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity405232433337590445193362410562610649
Cash from Investing Activity-124-178-459-389-239-113-231-340-128-217-2,149-2,238
Cash from Financing Activity-230-228-161103-142-222-47-25-110-1901,3991,381
Net Cash Flow50-174-18751209109-85-2172155-140-208
Free Cash Flow30247-43-41337330-4729284100-1,574-1,667
CFO/OP106%70%112%85%117%100%57%100%111%160%162%128%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days3972697056518110183765864
Inventory Days
Days Payable
Cash Conversion Cycle3972697056518110183765864
Working Capital Days-408-23-12-83865798658-139-88
ROCE %14%13%15%13%16%11%9%8%8%8%6%5%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters55.69%55.43%55.43%55.43%55.43%55.43%56.57%56.57%56.57%56.57%56.57%56.57%
FIIs3.88%3.86%4.97%4.67%4.49%4.78%4.21%4.04%3.69%2.63%2.74%2.88%
DIIs5.99%5.97%5.91%5.86%6.27%6.04%5.68%5.60%5.16%4.96%5.07%4.99%
Government7.64%7.64%7.64%7.64%7.64%7.64%7.45%7.45%7.45%7.45%7.45%1.44%
Public26.80%27.11%26.07%26.40%26.16%26.11%26.10%26.35%27.14%28.39%28.17%34.11%
No. of Shareholders74,80282,41299,34697,72996,40991,13393,48092,37493,70793,14191,26190,955

Fundamentals

Market Cap₹ 2,826 Cr.
Current Price₹ 182
Stock P/E5.62
Book Value₹ 247
ROCE5.47 %
ROE10.9 %
Dividend Yield2.26 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)24%
Compounded Profit Growth (TTM)150%
Standalone figures.
Valuation
Market capRs 2,714 Cr
Enterprise valueRs 6,045 Cr
P/E (TTM)5.40x
Price to book0.71x
Price to sales1.68x
EV / EBITDA7.07x
EV / EBIT11.38x
EV / sales3.73x
Price to cash flow4.18x
Earnings yield18.53%
Dividend yield2.35%
P/E, 3-year average10.11x
P/B, 3-year average0.68x
P/E, 5-year average8.58x
P/B, 5-year average0.55x
Profitability
Operating margin (excl. other income)36.06%
Operating margin (incl. other income)42.44%
EBITDA margin52.79%
Pre-tax margin23.26%
Net profit margin31.06%
Net margin, latest quarter31.63%
ROE10.93%
ROCE5.47%
ROA4.74%
ROE, 3-year average7.76%
ROCE, 3-year average6.52%
ROA, 3-year average4.04%
ROE, 5-year average7.03%
ROCE, 5-year average7.12%
ROA, 5-year average4.08%
ROIC (approx.)12.19%
Tax rate-64.47%
Other income / net worth2.48%
Growth
Sales growth (latest year)18.70%
Profit growth (latest year)90.33%
Sales CAGR, 3 years3.23%
Sales CAGR, 5 years2.23%
Profit CAGR, 3 years28.72%
Profit CAGR, 5 years17.49%
Sales growth QoQ16.58%
Profit growth QoQ-51.69%
Sales growth YoY (latest quarter)34.39%
Profit growth YoY (latest quarter)174.75%
Per share
EPS (TTM)Rs 32.40
EPS (latest year)Rs 25.93
EPS (latest quarter)Rs 10.17
EPS, 3-year averageRs 17.56
EPS, 5-year averageRs 15.29
Book value per shareRs 247.41
Sales per shareRs 104.30
Cash flow per shareRs 41.81
Free cash flow per shareRs -107.40
Dividend per share (latest year)Rs 4.10
Dividend per share, 3-year averageRs 4.05
Dividend per share, 5-year averageRs 3.68
Dividends
Dividend payout15.81%
Dividend payout, 3-year average25.31%
Dividend payout, 5-year average25.61%
Efficiency
Asset turnover0.16x
Fixed asset turnover0.25x
Inventory turnover3.64x
Inventory days100 days
Debtor days64 days
Debtors turnover5.69x
Cash conversion cycle64 days
Working capital days-88 days
Leverage
Total debtRs 3,594 Cr
Cash and bankRs 263 Cr
Net debtRs 3,332 Cr
Debt to equity0.94x
Net debt / EBITDA3.90x
Interest coverage3.43x
Current ratio (filing 2026-03-31)0.89x
Quick ratio (filing 2026-03-31)0.67x
Trade payables (filing 2026-03-31)Rs 57 Cr
Owners' fund to total sources40.74%
Debt to assets38.13%
Cash flow
Cash from Operating Activity (latest year)Rs 649 Cr
Cash from Investing Activity (latest year)Rs -2,238 Cr
Cash from Financing Activity (latest year)Rs 1,381 Cr
Net Cash Flow (latest year)Rs -208 Cr
Free cash flow (latest year)Rs -1,667 Cr
FCFE (approx.: FCF + change in debt)Rs -101 Cr
Cash from ops / profit, 5 years2.21x
Sales to cash flow2.30x
Statement figures
Net sales (TTM)Rs 1,619 Cr
Net sales (latest year)Rs 1,491 Cr
Sales (latest quarter)Rs 499 Cr
Operating profit excl. other income (latest year)Rs 538 Cr
Operating profit (latest quarter)Rs 242 Cr
Other income (TTM)Rs 188 Cr
EBITDA (TTM)Rs 855 Cr
PBDT (TTM)Rs 700 Cr
Profit before tax (TTM)Rs 377 Cr
Tax (latest year)Rs -158 Cr
Net profit (TTM)Rs 503 Cr
Net profit (latest year)Rs 402 Cr
Net profit (latest quarter)Rs 158 Cr
Depreciation (TTM)Rs 323 Cr
Depreciation (latest quarter)Rs 91 Cr
Interest (TTM)Rs 155 Cr
Cost of goods sold (latest year)Rs 758 Cr
Total expenditure (latest year)Rs 953 Cr
Total income (latest year)Rs 1,586 Cr
Share capitalRs 155 Cr
ReservesRs 3,685 Cr
Shareholders' fundsRs 3,840 Cr
Total assetsRs 9,426 Cr
Net blockRs 6,018 Cr
Capital work in progressRs 2,066 Cr
InvestmentsRs 96 Cr
ReceivablesRs 262 Cr
InventoryRs 208 Cr
Other liabilitiesRs 1,992 Cr
Shares outstanding (crore)15.52
Ownership
Promoter holding56.57% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 5.4 is at the 21th percentile of its own 9.4-year range (median 7.5, low 4.3, high 19.0).
P/B 0.71 is at the 65th percentile (median 0.52).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGIPCLNifty 50Difference
1 week-6.2%-2.8% -3.4 pts
1 month-12.1%-6.8% -5.3 pts
3 months+7.7%-7.6% +15.3 pts
6 months+44.7%+0.4% +44.3 pts
1 year-5.4%-9.9% +4.5 pts
2 years-24.9%-13.6% -11.3 pts
3 years+25.6%+14.2% +11.5 pts
5 years+104.4%+27.9% +76.5 pts
4 mutual fund schemes hold about ₹136 Cr. Over three months 2 bought more and 0 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
HDFC Balanced Advantage Fund0.12%126 +14%
Mahindra Manulife Value Fund0.89%9 +0%
Groww Value Fund(M1.44%1 +100%
Motilal Oswal BSE 1000 Index Fund0.01%0

Red flags

F-score 6 of 8
lookAuditor change Auditor change 2026-05-29: Gujarat Industries Power Company Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹499 Cr +34.1% vs Jun 2025. Net profit ₹158 Cr +177.2%.
Against our estimate for Jun 2026: sales +11.1%, profit +221.7% beat. Our estimate for Sep 2026: sales Rs 419 Cr, profit Rs 80 Cr (how).

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-09-11Dividend - Rs 4.10 Per Share
2025-09-12Dividend - Rs 4.09 Per Share
2024-09-13Dividend - Rs 3.95 Per Share
2023-09-08Dividend - Rs 3.75 Per Share
2022-09-14Dividend - Rs 2.50 Per Share
2021-09-15 Dividend - Rs 2.70 Per Share
2020-12-03 Dividend - Rs 2.90 Per Share
2019-08-28 Dividend - Rs 2.90 Per Share
2018-09-05 Dividend Rs 2.70 Per Share
2017-08-09 Dividend - Rs 2.70 Per Share
2016-08-18 Dividend - Rs 2.70/- Per Share
2015-08-14Annual General Meeting/Dividend Rs 2.50 Per Share
2014-08-08Annual General Meeting/Dividend Rs.2.50 Per Share
2013-08-30Annual General Meeting / Dividend - Rs 2.50/- Per Share
2012-09-07Annual General Meeting And Dividend Rs.2.50 Per Share
2011-09-09Dividend-Rs.2.50 Per Share
2010-08-26Annual General Meeting And Dividend Rs.2.50 Per Share
2009-09-03Agm/Div-Rs.2.20 Per Share
2008-09-05Agm/Dividend - 25%
2007-09-14Agm/Dividend-5%
2007-03-28Interim Dividend-15%
2006-09-14Agm/Dividend-12.50%
DateTypeWhat it says
2026-09-21Shareholder meetingVoting results.
2026-09-19AppointmentAppointment of Dr. Rajender Kumar, IAS as an Additional Director (Nominee of GSFC) of the Company w.e.f. September 19, 2026.
2026-09-19Board meeting outcomeOutcome of Board Meeting held on September 19, 2026 pertains to Change in Directors
2026-09-19CessationCessation of Shri Narendra Nath Misra as Non- Executive Independent Director of the company w.e.f. September 19, 2026.
2026-09-19Shareholder meetingProceedings of 41st Annual General Meeting held on September 19, 2026
2026-09-08Record DateRecord date for the purpose of Dividend & Meeting is 11-Sep-2026.
2026-09-03Shareholder meetingSubmission of Addendum to the Notice of Annual General Meeting of the Company to be held on September 19, 2026
2026-09-03Updates41st AGM, Annual Report and KYC Intimation to the holders of physical securities..
2026-08-31CessationCessation of Shri K S Badlani (DIN:10237996) as Nominee Director due to withdrawal of Nomination by GSFC w.e.f. August 31, 2026.
2026-08-24UpdatesBook Closure and Records Dates.
2026-08-24UpdatesDate of payment of Dividend .
2026-08-24UpdatesSubmission of Business Responsibility and Sustainability Report of the FY 2025-26
2026-08-24Shareholder meetingNotice of Annual General Meeting to be held on September 19, 2026
2026-08-11Board meeting outcomeGujarat Industries Power Company Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-24Disclosure under SEBI TakeovGUJALKALI : Gujarat Alkalies and Chemicals Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) & 31(5) of the Securities...
2026-07-15Concall / analyst meetSubmission of Transcript of Conference Call held on 10/07/2026.
2026-07-10Concall / analyst meetSubmission of Audio Recording of Conference Call held today i.e. 10/07/2026
2026-07-06Concall / analyst meetSchedule of meet to be held on Friday, 10th July, 2026 at 03:30 p.m. onwards.
2026-06-12Shareholder meetingVoting results.
2026-05-30UpdatesUpdates on Reminder letter to Shareholders regarding transfer of Equity Shares to IEPF Authority.
2026-05-29Change in AuditorsChange in Auditors of the company.
2026-05-29Board meeting outcomeGujarat Industries Power Company Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-29DividendBoard of Directors at its meeting held on May 29, 2026, recommended Final Dividend of Rs. 4.10 per equity share.
2026-05-11Shareholder meetingNotice of Postal Ballot dated 06/05/2026.
2026-04-22AppointmentAppointment of Smt. Shalini Agarwal, IAS as an Additional Director (Nominee of GUVNL) of the company w.e.f. April 22, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-07-28NCLTGujarat Industries Power Company Limited Provident Fund Trust Vs Punjab State Industrial Development Corporation Ltd.
2021-03-24NCLTGujarat Industries Power Company Limited Provident Fund Trust Vs Punjab State Industrial Development Corporation Ltd.
2021-01-04NCLTGujarat Industries Power Company Limited Provident Fund Trust Vs Punjab State Industrial Development Corporation Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Gujarat Industries Power Co Ltd?

Gujarat Industries Power Co Ltd (GIPCL) has a market capitalisation of Rs 2,826 Cr. at the 2026-10-01 close.

What is the P/E ratio of Gujarat Industries Power Co Ltd?

Gujarat Industries Power Co Ltd trades at a P/E of 5.62 on trailing twelve-month profit, at the 2026-10-01 close.

What were Gujarat Industries Power Co Ltd's latest quarterly results?

In the Jun 2026 quarter, Gujarat Industries Power Co Ltd sales was Rs 499 Cr (+34.1% vs Jun 2025) and net profit was Rs 158 Cr.

What is the 52-week high and low of Gujarat Industries Power Co Ltd?

The 52-week high is Rs 211.71 and the 52-week low is Rs 119.90.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03