Is Gujarat Industries Power Company a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Gujarat Industries Power Company Ltd is a below average quality company .

Is Gujarat Industries Power Company undervalued or overvalued?

The key valuation ratios of Gujarat Industries Power Company Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Gujarat Industries Power Company share price return in the past 10 years?

Gujarat Industries Power Company Ltd share price has appreciated 10% annually (CAGR) over the past ten years.

Is Gujarat Industries Power Company a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Gujarat Industries Power Company Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

What is the share price of Gujarat Industries Power Company?

Company share prices are keep on changing according to the market conditions. The closing price of Gujarat Industries Power Company on 18-Apr-2024 at 09:42 is 178.60.

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

The latest standalone P/E ratio of Gujarat Industries Power Company as of 18-Apr-2024 is 13.73.

What is the P/B ratio of Gujarat Industries Power Company?

The latest standalone P/B ratio of Gujarat Industries Power Company as of 18-Apr-2024 is 0.84.

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

The 52-week high of Gujarat Industries Power Company is Rs. 237.20 and the 52-week low is Rs. 73.55.

What is the TTM revenue of Gujarat Industries Power Company?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gujarat Industries Power Company is Rs. 1400.08 (Cr.).

Gujarat Industries Power Company Ltd - Stock Valuation and Financial Performance

Name: Gujarat Industries Power Company
Brand: Gujarat Industries Power Company

BSE: 517300 | NSE: GIPCL | Power Generation/Distribution | Small Cap

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Guj. Inds. Power Share Price

₹178.60 -0.65 -0.36%
as on 18-Apr'24 09:42

10 Year X-Ray of Guj. Inds. Power:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
ROCE % ⓘ	9.9%	7.7%	9.5%	10.4%	9.9%	11.7%	8.8%	6.1%	5.6%	6%	-
Value Creation Index ⓘ	-0.3	-0.5	-0.3	-0.3	-0.3	-0.2	-0.4	-0.6	-0.6	-0.6	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	1,377	1,215	1,352	1,311	1,354	1,407	1,379	1,335	1,172	1,356	1,400
Sales YoY Gr.	-	-11.8%	11.3%	-3.1%	3.3%	4%	-2%	-3.2%	-12.2%	15.6%	-
Adj EPS ⓘ	12.1	8.9	12	14.3	16.2	21.8	16.1	11.8	11.3	12.4	13.1
YoY Gr.	-	-26.4%	35.5%	18.6%	13.4%	34.4%	-26%	-27%	-3.7%	9.9%	-
BVPS (₹) ⓘ	116.1	121.4	134.4	147.8	162.6	170	181.7	188.8	201.3	208.6	214.3
Adj Net Profit ⓘ	182	134	182	216	245	329	244	178	171	188	197
Cash Flow from Ops. ⓘ	398	405	232	433	337	611	445	193	362	410	-
Debt/CF from Ops. ⓘ	1.8	1.5	2.1	1	1.8	0.9	1	2.5	1.4	1.2	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	-0.2%	0%	-0.6%	15.6%
Adj EPS ⓘ	0.4%	-5.1%	-8.2%	9.9%
BVPSⓘ	6.7%	5.1%	4.7%	3.6%
Share Price	10%	19.2%	33.8%	139.3%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	TTM
Return on Equity % ⓘ	10.8	7.5	9.4	10.1	10.4	13.1	9.2	6.4	5.8	6.1	6.2
Op. Profit Mgn % ⓘ	34.2	34.8	29.7	32.9	35.5	39	36.6	31.8	34.6	30.1	27.7
Net Profit Mgn % ⓘ	13.3	11.1	13.5	16.5	18.1	23.4	17.7	13.3	14.6	13.9	14.1
Debt to Equity ⓘ	0.4	0.3	0.2	0.2	0.3	0.2	0.2	0.2	0.2	0.2	-
Working Cap Days ⓘ	109	132	153	177	174	181	171	197	266	239	150
Cash Conv. Cycle ⓘ	58	58	63	79	73	58	52	86	131	120	112

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 6.20%

Sales growth is good in last 4 quarters at 15.75%

Sales growth has been subdued in last 3 years -0.57%

Net Profit has been subdued in last 3 years -8.24%

Latest Financials - Gujarat Industries Power Company Ltd.

	Standalone	Consolidated
TTM EPS (₹)	13.1	16.8
TTM Sales (₹ Cr.)	1,400	1,407
BVPS (₹.) ⓘ	214.3	0
Reserves (₹ Cr.) ⓘ	3,089	2,419
P/BV ⓘ	0.84	0.00
PE ⓘ	13.73	10.64

From the Market
52 Week Low / High (₹)	73.55 / 237.20
All Time Low / High (₹)	9.50 / 237.20
Market Cap (₹ Cr.)	2,711
Equity (₹ Cr.)	151.3
Face Value (₹)	10
Industry PE ⓘ	22

Management X-Ray of Guj. Inds. Power:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Guj. Inds. Power

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Price to Earnings

Enterprise Value to EBIT

Price to Book-Value

Price to Sales

Dividend History

Analyst's Notes

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Key Ratios of Guj. Inds. Power

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Sales	1,377	1,215	1,352	1,311	1,354	1,407	1,379	1,335	1,172	1,356
Operating Expenses ⓘ	906	792	951	882	873	859	874	911	767	948
Manufacturing Costs	809	692	837	761	729	726	714	762	615	793
Material Costs	0	0	0	0	0	0	0	0	0	0
Employee Cost	61	67	68	73	91	88	108	106	98	103
Other Costs ⓘ	37	33	46	47	53	45	52	43	53	51
Operating Profit ⓘ	470	423	401	429	481	548	505	424	406	408
Operating Profit Margin (%)	34.2%	34.8%	29.7%	32.7%	35.5%	39.0%	36.6%	31.8%	34.6%	30.1%
Other Income ⓘ	31	43	36	71	51	117	42	30	21	48
Interest ⓘ	88	78	76	73	57	50	51	31	29	38
Depreciation ⓘ	156	120	112	126	158	168	191	155	151	165
Exceptional Items ⓘ	0	-19	0	0	0	-218	0	0	0	0
Profit Before Tax ⓘ	257	249	250	301	317	228	305	269	247	253
Tax ⓘ	71	123	61	72	73	52	57	89	76	65
Profit After Tax	186	126	188	229	245	176	248	180	171	189
PAT Margin (%)	13.5%	10.4%	13.9%	17.5%	18.1%	12.5%	18.0%	13.5%	14.6%	13.9%
Adjusted EPS (₹)	12.3	8.4	12.5	15.2	16.2	11.7	16.4	11.9	11.3	12.5
Dividend Payout Ratio (%)	20%	30%	22%	18%	17%	25%	18%	23%	22%	30%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Equity and Liabilities
Shareholders Fund	1,756	1,837	2,033	2,236	2,459	2,571	2,748	2,855	3,044	3,154
Share Capital ⓘ	151	151	151	151	151	151	151	151	151	151
Reserves ⓘ	1,605	1,685	1,882	2,085	2,308	2,419	2,597	2,704	2,893	3,003
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	610	501	370	312	468	425	387	426	435	415
Long Term Debt	537	432	327	271	361	367	384	395	400	391
Short Term Debt	74	70	43	41	107	59	3	31	35	24
Trade Payables	83	88	85	104	101	144	110	79	86	90
Others Liabilities ⓘ	543	576	660	762	757	691	685	769	838	828
Total Liabilities ⓘ	2,992	3,002	3,148	3,414	3,786	3,831	3,930	4,129	4,403	4,487
Fixed Assets
Gross Block	3,806	3,826	2,089	2,762	3,076	3,236	3,680	3,566	4,139	4,203
Accumulated Depreciation	1,811	1,930	112	238	395	602	795	936	1,082	1,250
Net Fixed Assetsⓘ	1,996	1,895	1,977	2,524	2,681	2,634	2,885	2,630	3,057	2,953
CWIP ⓘ	87	99	35	24	6	167	5	292	41	75
Investmentsⓘ	160	207	250	281	328	90	60	87	148	106
Inventories	120	148	151	160	152	166	160	222	223	259
Trade Receivables	223	128	266	248	260	214	193	295	325	307
Cash Equivalents	315	366	193	7	59	262	372	286	284	456
Others Assetsⓘ	91	158	276	171	300	298	256	316	325	331
Total Assets ⓘ	2,992	3,002	3,148	3,414	3,786	3,831	3,930	4,129	4,403	4,487

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Cash Flow From Operating Activity ⓘ	398	405	232	433	337	611	445	193	362	410
PBT ⓘ	257	249	250	301	317	228	305	269	247	253
Adjustment ⓘ	225	175	181	190	219	427	218	163	164	177
Changes in Working Capital ⓘ	-40	21	-147	-7	-125	5	-19	-189	-6	21
Tax Paid ⓘ	-44	-40	-52	-51	-74	-50	-59	-49	-43	-41
Cash Flow From Investing Activity ⓘ	-86	-124	-178	-459	-389	-265	-113	-231	-340	-128
Capex	-26	-103	-186	-477	-378	-253	-114	-240	-333	-126
Net Investments	-91	-47	-25	1	-12	0	-23	-18	-19	-24
Others ⓘ	31	26	33	17	1	-13	24	26	12	22
Cash Flow From Financing Activityⓘ	-272	-230	-228	-161	103	-137	-222	-47	-25	-110
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-105	-105	-105	-55	133	-19	-70	0	40	-24
Interest Paid ⓘ	-89	-78	-62	-65	-48	-44	-43	-31	-28	-36
Dividend Paid ⓘ	-37	-37	-37	-40	-40	-41	-44	-44	-41	-38
Others ⓘ	-41	-10	-24	-1	57	-33	-65	27	4	-12
Net Cash Flow ⓘ	40	50	-174	-187	51	209	109	-85	-2	172

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'14	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23
Ratios
ROE (%)	11.03	7.03	9.73	10.74	10.42	7.01	9.32	6.42	5.81	6.09
ROCE (%)	13.99	13.33	13.14	14.5	13.07	8.96	11.24	9.18	8.01	8.08
Asset Turnover Ratio	0.46	0.41	0.44	0.4	0.38	0.37	0.36	0.33	0.27	0.3
PAT to CFO Conversion(x)	2.14	3.21	1.23	1.89	1.38	3.47	1.79	1.07	2.12	2.17
Working Capital Days
Receivable Days	52	53	53	72	68	62	54	67	97	85
Inventory Days	32	40	40	43	42	41	43	52	69	65
Payable Days	0	0	0	0	0	0	0	0	0	0

Gujarat Industries Power Company Ltd Stock News

Gujarat Industries Power Company Ltd FAQs

What is the share price of Guj. Inds. Power?

Company share prices are keep on changing according to the market conditions. The closing price of Guj. Inds. Power on 18-Apr-2024 09:42 is ₹178.6.

What is the market cap of Guj. Inds. Power?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 18-Apr-2024 09:42 the market cap of Guj. Inds. Power stood at ₹2,711.2.

What is the P/E ratio of Guj. Inds. Power?

The latest P/E ratio of Guj. Inds. Power as of 18-Apr-2024 09:42 is 13.73.

What is the P/B ratio of Guj. Inds. Power?

The latest P/B ratio of Guj. Inds. Power as of 18-Apr-2024 09:42 is 0.84.

What is the 52-week high and low of Guj. Inds. Power?

The 52-week high of Guj. Inds. Power is ₹237.2 and the 52-week low is ₹73.55.

What is the TTM revenue of Guj. Inds. Power?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Guj. Inds. Power is ₹1,400 ( Cr.) .

About Gujarat Industries Power Company Ltd

Gujarat Industries Power Company Limited (GIPCL) was incorporated in 1985 as a Public Limited company under the auspices of Government of Gujarat (GoG). The company was incorporated as a Public Limited Company with the Registrar of Companies, Gujarat under the Companies Act, 1956 and having its registered office at P.O. Ranoli, Vadodara, Gujarat, India and has listed its shares on BSE Limited and The National Stock Exchange (India) Limited.

The company has been promoted by leading Gujarat PSUs, namely GSFC, GACL and GUVNL. The company is engaged in the business of Electrical Power Generation. The company has a diversified portfolio of Thermal (Gas and Lignite), Wind and Solar Power Plant Assets in the state of Gujarat. GIPCL aims to transform itself into a formidable national level power sector enterprise.

The company commissioned its first power project, a 145 MW gas based Combined Cycle Power Plant at Vadodara in the year 1992. It was set up as an innovative concept of Group Captive Power Plant with the participation of industries and the state power utility as promoters. Power from this plant is distributed to its promoters in proportion to their original equity holding.

Thereafter the company commissioned a 165 MW dual fuel based Combined Cycle Power Plant at Baroda in 1997 which successfully operated as an IPP having a long term PPA with GUVNL for 20 years. Subsequently this plant has entered into a 5 year Power Purchase Agreement (PPA) with GUVNL for supply of power through Short Term Open Access in March 2019.

It also commissioned a greenfield project of 2x125 MW Surat Lignite Power Plant (SLPP-I ) based on environment friendly CFBC technology at Nani Naroli, District Surat, Gujarat in November, 1999 having long Term PPA with GUVNL for 30 years. The capacity was further enhanced with the commissioning of another 2 x 125 MW (SLPP- II) with similar technology in April, 2010 having a long term PPA with GUVNL for 30 years. The lignite for these plants is sourced from the captive mines of Vastan, Mangrol and Valia.

In the recent years, the company aligned its growth strategy with the vision of GOI to have 175 GW Renewable Capacity by 2022. The company has successfully commissioned 112.4 MW Wind Generation capacity at various locations in Gujarat in the period 2015-17 having long Term PPA with GUVNL for 25 years with Feed-in Tariff.

The company has also established a number of Utility Scale Ground Mounted Solar PV Projects in Gujarat since the year 2012 onwards. The projects have long term PPAs of 25 years with SECI and GUVNL. The company has also commissioned a unique Distributed Agri Solar pilot project of 2 x 1 MW in April & May, 2016 for Govt. of Gujarat feeding solar energy directly into the distribution grid thereby eliminating T & D losses. The Company has successfully commissioned a 2 x 40 MW Solar Project in September, 2017 as well as a 75 MW Solar Power Project in June, 2019 at Gujarat Solar Park, Village Charanka, Dist.: Patan. The Company has commissioned the 100 MW Solar Project at the Raghanesda Solar Park, Banaskantha, Gujarat on August 10, 2021.

Business area of the company

The company is engaged in generation of power from gas, lignite, wind and solar. The Principal places of business are located in Gujarat, India.

Power Generation

Gas Based Power Plants
Lignite Power Plants
Solar & Wind Assets
Plant Performance

Mines

Vastan Lignite and Limestone Mine
Mangrol Valia Lignite Mine

Awards and Accolades

Financial Year 2019

Vastan Lignite Mine has won Overall First Prize for the Overall Performance among the lignite mines of Gujarat State, from Director General of Mining Safety during Gujarat Lignite Mines Safety & Swachhata Week 2018-19. Vastan Lignite Mine has also won prizes for ‘Mine Workings and General Safety’, ‘Health, First Aid & Vocational Training’, ‘Publicity, Propaganda & Housekeeping’ and ‘Record Maintenance’ and Valia Lignite Mine has won prizes for ‘Swachhata Hi Seva Prize’, ‘Health, First Aid & Vocational Training’ and ‘Record Maintenance’.
Vastan Limestone Mine has won prizes for the ‘Mine Working, Haul road, Maintenance & Transportation’ and ‘Health, Safety, Welfare & Occupational Health Check up facilities, Fire Fighting & Vocational Training’ among the 24 Limestone Mines (Chemical and Soda Ash Group) of Gujarat State during 9th Gujarat Metalliferous Mines Safety, Swachhata & Silicosis Awareness Week-2018.
SLPP received Winner Award in “Power Plant Performance - 2018 - Lignite” in Thermal O&M “Conference - Expo - Award” on June 8, 2018 at New Delhi organized by Mission Energy Foundation jointly supported by Central Electricity Authority (CEA), Ministry of Environment & Forest and Climate Change (MoEF and CC), Ministry of Power, Coal, Renewable Energy and Ministry of Science & Technology.
SLPP received National Energy Management Award - 2018 for Outstanding Performance in Energy Conservation conferred by Confederation of Indian Industry (CII), Hyderabad and recognized as ‘Energy Efficient Unit’. The award was received on 31st August, 2018 in a function organized by CII at HICC, Hyderabad.
SLPP received Environment Excellence Award - 2018 under “Clean Generator of the Year - Lignite” category, conferred by Mission Energy Foundation jointly supported by Ministry of Environment & Forest and Climate Change (MoEF and CC), Ministry of Power (MoP), Coal, Renewable Energy and Ministry of Science & Technology. The Award was received on 21st September, 2018 in a Conference organized at New Delhi.
National Award conferred to SLPP, as the “Winner” of “National Fly Ash Utilization Award-2019” for Fly Ash Utilization in Thermal Power Stations Category <= 500 MW by Mission Energy Foundation, supported by Ministry of Environment & Forest and Climate Change, Ministry of Power, Coal, Renewable Energy, Ministry of Road Transport and Highways, Ministry of Science & Technology and Ministry of Urban Development on 28th February, 2019 at Goa.

Financial Year 2020

The company’s Valia Lignite Mine won the Overall Second Prize for its Overall Performance among the lignite mines of Gujarat State, from the Director General of Mining Safety during Gujarat Lignite Mines Safety & Swachhata Week 2019-20. Sh. P. C. Goyal (GM-Mines) was awarded the Best Manager of the Year, Lignite Open Cast Mines. Valia Lignite Mine also won prizes for ‘Health, First Aid & Vocational Training’, ‘Gazette Notifications under CMR, 2017’, ‘Mine Workings and General Safety’ and ‘Record Maintenance’. Vastan Lignite Mine won prizes for ‘Thrust Area (Welfare and Occupational Health Surveillance of Contractual Employees)’, ‘Health, First Aid & Vocational Training’ and ‘Publicity, Propaganda & Housekeeping’.
Vastan Limestone Mine won prizes for the ‘Overall Performance’, ‘Mine Working, Haul road, Maintenance & Transportation’ and ‘Safety, Welfare & Occupational Health Checkup facilities, Fire Fighting & Vocational Training’ among the 22 Limestone Mines (Chemical and Soda Ash Group) of Gujarat State during 9th Gujarat Metalliferous Mines Safety, Swachhata & Silicosis Awareness Week-2019.
The Surat Lignite Power Plant (SLPP) of the company was conferred National Award, as the “Winner” (third consecutive year) of “Fly Ash Utilization Award - 2020” for Efficient Management of Fly Ash (100% Ash utilization) in the category of Thermal Power Stations <= 500 MW at 9th Fly Ash Utilization, Conference-Expo-Awards-2020, Organized by Mission Energy Foundation, supported by Ministry of Environment & Forest, Ministry of Power, Ministry of Coal, Ministry of Road Transport and Highways, Ministry of Steel and Ministry of Urban Development, on February 28, 2020 at Goa.
SLPP received National Energy Management Award - 2019 for Outstanding Performance in Energy Conservation (for third consecutive year) conferred by Confederation of Indian Industry (CII), Hyderabad and recognized as ‘Energy Efficient Unit’. The award was received on 18th September, 2019 in a function organized by CII at Hyderabad.
GIPCL-SLPP received “Power Plant Performance Award - 2019” in “Power Plant Performer - 2019 < 500 MW Lignite” category consecutively for second year in “Thermal Power O&M Conference - Award” function organized by Mission Energy Foundation at New Delhi on 28th June, 2019.

Financial Year 2021

The Surat Lignite Power Plant (SLPP) of the company has received National Award for Excellence in Energy Management-2020 for Outstanding Performance in Energy Conservation (for fourth consecutive year) conferred by Confederation of Indian Industry (CII), Hyderabad and recognized as 'Energy Efficient Unit'. The award was received on 28 August, 2020.
SLPP has received Environment Excellence Award-2020 under 'Clean Generator of the Year - Lignite' category, conferred by Mission Energy Foundation. The Award was received on 28 September, 2020.
SLPP has received National Efficiency Award-2021 under 'Best Energy Efficient Plant - Lignite' category, conferred by Mission Energy Foundation. The Award was received on 19 February, 2021.