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    Utilities

  3. •

    Electric utilities
Gujarat Industries Power Co. Ltd.

Gujarat Industries Power Co. Ltd.

157.30
INR
-3.60
(-2.24%)
32.53EPS
4.96P/E
25.04BMarket Cap
Nov 17Next Earn
2014 Y
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
2026 Y
TTM
Revenue per Share
91.03
80.31
89.4
86.21
89.14
92.61
90.82
88.15
77.15
89.16
88.63
82.48
95.52
104.72
Basic EPS, GAAP
12.3
8.35
12.45
15.16
10.98
11.66
16.4
11.89
11.33
12.48
13.12
13.97
25.93
32.53
Free Cash Flow per Basic Share
24.61
15.79
3.04
-9.01
-3.13
23.68
21.83
-3.09
1.24
18.74
6.49
-104.41
-107.58
- -
Dividend per Share
2.46
2.42
2.43
2.63
2.63
2.7
2.9
2.9
2.7
2.5
3.75
3.95
4.09
- -
Book Value per Share
116.09
125.03
134.44
147.84
157.4
169.96
181.69
188.76
201.28
208.55
218.54
227.03
247.41
- -
Tangible Book Value per Share
115.92
124.73
134.22
147.46
156.99
169.64
181.42
188.55
201.03
208.37
218.42
226.93
247.35
- -
Basic Weighted Avg Shares
151
151
151
151
151
151
151
151
151
151
151
151
155
155
Sales/Revenue/Turnover
13,768
12,147
13,522
13,039
13,483
14,008
13,737
13,333
11,669
13,486
13,405
12,480
14,827
16,189
Operating Margin (%)
23.53
25.61
22.15
23.38
23.99
27.11
23.08
20.2
21.85
18.01
16.17
19.19
18.28
21.22
Depreciation Expense
1,581
1,316
1,299
1,272
1,597
1,684
1,908
1,550
1,509
1,650
1,679
1,701
2,775
3,232
Net Income, GAAP
1,860
1,263
1,883
2,293
1,660
1,764
2,480
1,798
1,713
1,887
1,985
2,114
4,024
5,028
Effective Tax Rate (%)
27.77
49.36
24.61
23.83
22.99
22.73
18.79
33.05
30.73
25.55
21.39
22.54
- -
- -
Profit Margin (%)
13.51
10.4
13.92
17.58
12.32
12.59
18.05
13.48
14.68
13.99
14.81
16.94
27.14
31.06
Working Capital
1,820
2,543
2,218
-857
-468
1,716
4,589
4,711
4,881
7,310
5,391
-2,892
-4,699
- -
LT Debt
5,368
4,317
3,266
2,715
3,613
3,666
3,872
3,990
4,086
3,996
5,118
19,352
34,539
- -
Total Equity
17,558
18,911
20,334
22,361
23,807
25,707
27,481
28,550
30,444
31,543
33,055
35,238
38,402
- -
Return on Invested Capital (%)
9.89
6.09
9.02
10.49
9.85
6.51
8.29
5.57
5.14
5.37
4.81
4.01
- -
- -
Return on Capital (%)
10.26
6.62
9.07
10.66
7.31
6.97
9.09
6.13
5.52
5.99
6.01
4.98
- -
- -
Return on Common Equity (%)
11.04
6.93
9.59
10.74
7.19
7.13
9.32
6.42
5.81
6.09
6.15
6.19
10.93
- -

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
1,403
- -
LT Borrowings
- -
32,477
- -
LT Finance Leases
- -
2,062
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
155
155
155
Market Capitalization
24,315
18,750
25,044

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
8,170
- -
Cash, Cash Equivalents & STI
- -
2,812
- -
Accounts Receivable, Net
- -
2,619
- -
Inventories
- -
2,083
- -
Total Current Liabilities
- -
12,869
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
1,403
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
6.58%
6.12%
8.98%
Free Cash Flow
-193.26%
-98.53%
5.7%
Net Income, GAAP
12.1%
21.49%
90.32%
Sales/Revenue/Turnover
1.32%
2.88%
18.81%
Total Cash Common Dividend
- -
9.46%
6.26%

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
3,200
2,761
3,220
3,382
12,480
2026
3,715
3,214
3,699
4,283
14,827
2027
4,993
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
4.48
2.3
2.59
4.6
13.97
2026
3.7
1.37
-0.21
21.06
25.93
2027
10.17
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
3.95
2026
- -
- -
- -
- -
4.09
2027
- -
- -
- -
- -
- -

Company Description

Company Profile APIChatGPT
CEO
Vatsala Vasudeva
Full Time Employees
661
Sector
Utilities
Industry
Electric utilities
Address
P.O. Ranoli Vadodara GJ India 391350
IPO Date
Oct 13, 2005
Website
gipcl.com
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Business
Gujarat Industries Power Company Limited (GIPCL) engages in electrical power generation through a diversified portfolio of thermal, renewable, and mining operations primarily in Gujarat, India. Incorporated in 1985 and headquartered at P.O. Ranoli, Vadodara, the company, promoted by Gujarat State Fertilizers and Chemicals Ltd., Gujarat Alkalies and Chemicals Ltd., and Gujarat Urja Vikas Nigam Ltd., maintains an installed capacity of 1724.40 MW, encompassing gas-based combined cycle plants at Vadodara (145 MW Station-I and 165 MW Station-II, currently under preservation due to high gas prices); lignite-based Surat Lignite Power Plant (SLPP) Phases I and II totaling 500 MW equipped with CFBC boilers; solar power assets totaling 802 MW including 600 MW phased project at Khavda RE Park (465 MW commissioned by November 2025), 75 MW Vastan Group Captive on mine reclaimed land (June 2025), 100 MW at Raghanesda Solar Park (2021), 75 MW and 80 MW at Gujarat Solar Park Charanka (2019 and 2017), 2x1 MW agri-solar pilots (2016), and various rooftop installations; wind farms of 112.4 MW across Saurashtra and Kutch regions; and captive lignite (5.4 MTPA) and limestone mines at Vastan and Mangrol-Valia to fuel SLPP. GIPCL supplies power under long-term PPAs to GUVNL, SECI, and promoter companies, with operations focused on state grid integration, merit-order dispatch efficiency, and environmental compliance through award-winning plants. Recent developments include commissioning 465 MW solar at Khavda RE Park by November 2025 with 1200 MW pooling substations operational (April 2025); 75 MW Vastan captive solar (June 2025); EPC contract award and debt syndication approval for 500 MW solar Phase-II at Khavda and 75 MW at Vastan (December 2024); land allocation of 4750 Ha for 2375 MW Khavda RE Park with infrastructure nearing completion; state approvals for 700 MW lignite plant at Valia (July 2025), two pump storage hydro projects (Kaprada 1300 MW, Wilson Ghat 1000 MW, August 2025); MoUs with NHPC Ltd., IOCL for renewables, and Gujarat government for Khavda projects (January 2024); and plans for gas plant repurposing to battery storage, SLPP renovation, and further solar/wind/hybrid expansions targeting C&I customers.