Gujarat Pipavav Port Ltd - Stock Valuation and Financial Performance

BSE: 533248 | NSE: GPPL | Port | Small Cap

Gujarat Pipavav Port Share Price

215.55 0.10 0.05%
as on 12-Apr'24 16:59

DeciZen - make an informed investing decision on Gujarat Pipavav Port

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Gujarat Pipavav Port stock performance -

mw4me loader
P/E Ratio (SA):
28.32
Market Cap:
10,420.6 Cr.
52-wk low:
105.2
52-wk high:
225.2

Is Gujarat Pipavav Port Ltd an attractive stock to invest in?

1. Is Gujarat Pipavav Port Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gujarat Pipavav Port Ltd is a good quality company.

2. Is Gujarat Pipavav Port Ltd undervalued or overvalued?

The key valuation ratios of Gujarat Pipavav Port Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Gujarat Pipavav Port Ltd a good buy now?

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

10 Year X-Ray of Gujarat Pipavav Port:

Analysis of Financial Track Record

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

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

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gujarat Pipavav Port Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 12.7%25.1%10.3%12.6%10%10.3%14.6%11%10%15.9%-
Value Creation
Index
-0.10.8-0.2-0.1-0.3-0.30.0-0.2-0.30.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 518694660683649702735733741917972
Sales YoY Gr.-33.9%-4.9%3.5%-5%8.2%4.8%-0.3%1.1%23.7%-
Adj EPS 3.774.15.34.24.36.14.64.16.67.6
YoY Gr.-87.9%-41.9%29.6%-21%3.4%42%-24.6%-10.5%61.3%-
BVPS (₹) 2929.641.341.841.741.843.142424345.5
Adj Net
Profit
179337196254200207294222199320368
Cash Flow from Ops. 290355389402315296340384380370-
Debt/CF from Ops. 1.1000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.6%7.2%7.6%23.7%
Adj EPS 6.7%9.8%2.9%61.3%
BVPS4.5%0.6%-0.1%2.3%
Share Price 9.6% 16.8% 30.9% 89.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Dec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
13.726.410.312.69.910.314.310.89.815.617.2
Op. Profit
Mgn %
48.758.257.962.158.155.761.158.355.855.256.2
Net Profit
Mgn %
34.648.629.637.130.929.54030.226.834.937.9
Debt to
Equity
0.2000000000-
Working Cap
Days
92103172156173182213242287307201
Cash Conv.
Cycle
-15-1342-5-3-10-7-15142

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 17.20%

Sales growth has been subdued in last 3 years 7.63%

Net Profit has been subdued in last 3 years 2.87%

Sales growth is not so good in last 4 quarters at 7.66%

Latest Financials - Gujarat Pipavav Port Ltd.

Standalone Consolidated
TTM EPS (₹) 7.6 7.7
TTM Sales (₹ Cr.) 972 972
BVPS (₹.) 45.5 50
Reserves (₹ Cr.) 1,714 1,933
P/BV 4.74 4.31
PE 28.32 27.90
From the Market
52 Week Low / High (₹) 105.20 / 225.20
All Time Low / High (₹) 41.00 / 262.00
Market Cap (₹ Cr.) 10,421
Equity (₹ Cr.) 483.4
Face Value (₹) 10
Industry PE 201.6

Management X-Ray of Gujarat Pipavav Port:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Gujarat Pipavav Port

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSDec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales518867660683649702735733741917
Operating Expenses 268366284265275313289311331415
Manufacturing Costs189263199179183213193209218280
Material Costs0000000000
Employee Cost 42624648536057677475
Other Costs 36413837394139353960
Operating Profit 250501376419374389447422410502
Operating Profit Margin (%) 48.3%57.8%57.0%61.3%57.6%55.4%60.7%57.6%55.4%54.8%
Other Income 23403035374551443151
Interest 372600007658
Depreciation 618397107104113131133129116
Exceptional Items 16-45000000-5-37
Profit Before Tax 192387309347307321359327303392
Tax 001189710911566108109100
Profit After Tax 192387191250198206292218193292
PAT Margin (%) 37.0%44.7%29.0%36.6%30.6%29.3%39.8%29.8%26.1%31.8%
Adjusted EPS (₹)4.08.04.05.24.14.36.14.54.06.0
Dividend Payout Ratio (%)0%0%48%74%83%82%93%100%100%101%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSDec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 1,4041,7911,9972,0192,0142,0212,0852,0322,0322,078
Share Capital 483483483483483483483483483483
Reserves 9201,3071,5131,5361,5311,5381,6011,5491,5491,595
Minority Interest0000000000
Debt282000000000
Long Term Debt282000000000
Short Term Debt0000000000
Trade Payables47271426283330344466
Others Liabilities 1522673684774876026607821,1301,288
Total Liabilities 1,8842,0852,3792,5222,5292,6562,7742,8483,2073,432

Fixed Assets

Gross Block1,9171,9811,4391,8781,9912,0082,1122,1062,1752,220
Accumulated Depreciation43651997202305418529639767857
Net Fixed Assets1,4811,4621,3421,6761,6861,5901,5831,4671,4081,363
CWIP 106653929232456534995
Investments 83838383838383838383
Inventories12131516148810108
Trade Receivables34362929265146485286
Cash Equivalents 202244295352432534650725856895
Others Assets-34181223274257344400461749904
Total Assets 1,8842,0852,3792,5222,5292,6562,7742,8483,2073,432

Cash Flow

(All Figures are in Crores.)
PARTICULARSDec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 290444389402315296340384380370
PBT 192387309347307321359327303392
Adjustment 7311877827975939810683
Changes in Working Capital 47198332-19-29-4920333
Tax Paid -22-80-80-59-53-71-64-60-61-107
Cash Flow From Investing Activity -176-207-285-241-129-122-81-101-166-82
Capex -91-114-366-143-54-31-15-45-51-58
Net Investments -93-13958-118-86-120-105-98-142-52
Others 8452321122939412728
Cash Flow From Financing Activity -54-3320-227-204-198-250-296-220-273
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -17-30400000000
Interest Paid -38-280000-7-6-5-8
Dividend Paid 000-188-169-164-188-271-193-246
Others 000-38-34-34-55-19-22-19
Net Cash Flow 60-95104-66-18-258-13-615
PARTICULARSDec'13Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)14.6724.2510.112.459.8410.1914.2410.619.5114.2
ROCE (%)14.1523.6416.3217.315.2515.9217.8316.1715.1219.45
Asset Turnover Ratio0.290.440.30.280.260.270.270.260.280.32
PAT to CFO Conversion(x)1.511.152.041.611.591.441.161.761.971.27
Working Capital Days
Receivable Days26151815152024232223
Inventory Days8588864543
Payable Days0000000000

Gujarat Pipavav Port Ltd Stock News

Gujarat Pipavav Port Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Gujarat Pipavav Port on 12-Apr-2024 16:59 is ₹215.6.
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 12-Apr-2024 16:59 the market cap of Gujarat Pipavav Port stood at ₹10,420.6.
The latest P/E ratio of Gujarat Pipavav Port as of 12-Apr-2024 16:59 is 28.32.
The latest P/B ratio of Gujarat Pipavav Port as of 12-Apr-2024 16:59 is 4.74.
The 52-week high of Gujarat Pipavav Port is ₹225.2 and the 52-week low is ₹105.2.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gujarat Pipavav Port is ₹971.9 ( Cr.) .

About Gujarat Pipavav Port Ltd

Gujarat Pipavav Port Limited was incorporated on August 05, 1992 to construct, operate and maintain an all-weather port at Pipavav, District Amreli, in the State of Gujarat. The port is designed to handle bulk, container, liquid cargo and RORO and to provide port services such as marine services, material handling and storage operations.

The company has entered into a 30 year Concession Agreement with Government of Gujarat and Gujarat Maritime Board (GMB) dated September 30, 1998 to engage in the business of developing, constructing, operating and maintaining the port on a BOOT (Build Own Operate Transfer) basis.

During the year 2005, AP Moller-Maersk group together with certain financial investors acquired the complete shareholdings held by the original promoter viz. Seaking Infrastructure Limited (SKIL) group, on receipt of approval from Government of Gujarat, and GMB. Accordingly, AP Moller-Maersk group became the key promoter of the Company under the Concession agreement.

Pursuant to the approval of the shareholders of the company in an extra ordinary general meeting held on November 17, 2009, the company has issued and allotted through Initial Public Offering (IPO) 108,695,652 equity shares of Rs 10 each at a premium of Rs 36 per share aggregating to a total of Rs 5,00 crore to all categories of investors. The issue was made in accordance with the terms of the company’s prospectus dated August 30, 2010 and the shares got listed on September 9, 2010 on Bombay Stock Exchange and National Stock Exchange.

Business area of the company

Gujarat Pipavav Port is engaged in providing port services such as marine services, material handling and storage operations.

Services

  • Containers
  • Roll-on Roll-off (RoRo)
  • Bulk Cargo
  • Liquid Cargo
  • Storage
  • Maritime Personnel
  • Towage
  • Tariffs
  • Marketing Tools

Awards

  • 2010- EPC World Award 2010 - Outstanding contribution in Ports & Shipping
  • 2011- Maritime And Logistics Awards (MALA) 2011 - Fastest growing Port
  • 2011- EXIM Award 2011 - Emerging Gateway Port of the Year
  • 2012- Maritime And Logistics Awards (MALA) 2012 - CSR Award
  • 2012- CNBC Infrastructure Excellence Awards 2012
  • 2013- Maritime And Logistics Awards (MALA) 2013 - HSSE Award
  • 2015- Samudra Manthan 2015 - Safe Port of the Year Award
  • 2016- Gujarat Star Awards 2016 - Emerging port of the year for RoRo business
  • 2017- Gujarat Star Awards 2017 - Best Port of the year for RoRo operations
  • 2017- Gujarat Star Awards 2017 - runner up for The Port of the Year - Health, Safety and Environment
  • 2018- Appreciation certificate from Government of Gujarat for ‘Mukhya Mantri Apprenticeship Yojana’ Apprentice Program
  • 2020- Award from New Delhi-based Integrated Health & Wellbeing Council for societal development and community support initiatives under the ‘COVID Relief Project’

Milestones

  • First Public Private Project (PPP) in port sector in India
  • First Public Private Project in railways through PRCL [Pipavav Railway Corporation Ltd]  in India
  • First port to start double stack train services for containers in India. Which has a capacity of carrying 180 TEUs as against 90 TEUs carried in a single stack train. 
  • First Port to receive the first coastal RoRo vessel in India 
  • One of the First Ports to have environment friendly coal yard.

Timeline

  • 1998- Concession awarded to GPPL
  • 2000- PRCL (Pipavav Railway Corporation Ltd) formed - First PPP project with Indian Railways
  • 2001- APM Terminals invests 12.5% in GPPL (Gujarat Pipavav Port Ltd)
  • 2003- Port gets rail connectivity through JV with Indian Railways
  • 2005- APM Terminals acquires controlling stakes
  • 2006- Pioneers double stack container rakes in India.
  • 2009- Container terminal became operational.
  • 2010- Company listed on Indian stock exchanges.
  • 2014- Liquid cargo operations commences at port.
  • 2015- RoRo Operations commences at port.
  • 2016- Container capacity expanded to 1.35 mTEUs
  • 2017- Handles 100,000th Auto Unit - key milestone in just 20 months
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