Gujarat Industries Power Co Ltd
Incorporated in 1985, Gujarat Industries is a Public Limited company of the Government of Gujarat. The company is engaged in the business of Electrical Power Generation with a present installed generation capacity of 1184.40MW. The Company has a diversified portfolio of Thermal (Gas and Lignite), Wind, and Solar Power Plant Assets in the State of Gujarat.[1]
Strengths
- +Stock is trading at 0.63 times its book value
- +Company has been maintaining a healthy dividend payout of 30.1%
- +Company's working capital requirements have reduced from 60.7 days to 37.5 days
Weaknesses
- −The company has delivered a poor sales growth of -1.84% over past five years.
- −Company has a low return on equity of 6.14% over last 3 years.
- −Company might be capitalizing the interest cost
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 55.43% | 55.43% | 55.43% | 56.57%▲1.1 | 56.57% | 56.57% | 56.57% | 56.57% |
| FIIs | 4.67% | 4.49%▼0.2 | 4.78%▲0.3 | 4.21%▼0.6 | 4.04%▼0.2 | 3.69%▼0.4 | 2.63%▼1.1 | 2.74%▲0.1 |
| DIIs | 5.86% | 6.27%▲0.4 | 6.04%▼0.2 | 5.68%▼0.4 | 5.6%▼0.1 | 5.16%▼0.4 | 4.96%▼0.2 | 5.07%▲0.1 |
| Public | 26.4% | 26.16%▼0.2 | 26.11%▼0.1 | 26.1%▼0.0 | 26.35%▲0.3 | 27.14%▲0.8 | 28.39%▲1.3 | 28.17%▼0.2 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 280.18 | 353.56 | 372.69 | 319.96 | 276.06 | 321.99 | 338.25 | 371.52 | 321.4 | 369.94 |
| Expenses | 218.24 | 259.01 | 253.9 | 203.88 | 194.74 | 232.54 | 218.97 | 258.85 | 213.65 | 247.61 |
| Operating Profit | 61.94 | 94.55 | 118.79 | 116.08 | 81.32 | 89.45 | 119.28 | 112.67 | 107.75 | 122.33 |
| OPM % | 22.11% | 26.74% | 31.87% | 36.28% | 29.46% | 27.78% | 35.26% | 30.33% | 33.53% | 33.07% |
| Net Profit | 28.34 | 46.62 | 66.18 | 67.78 | 34.72 | 39.2 | 69.73 | 57.47 | 21.3 | -3.2 |
| EPS ₹ | 1.87 | 3.08 | 4.38 | 4.48 | 2.3 | 2.59 | 4.49 | 3.7 | 1.37 | -0.21 |
AI Insights
TTM revenue at ₹1,401Cr, up 11.5% YoY. OPM at 33%.
Borrowings at ₹2,803Cr. Debt-to-equity ratio: 0.83x. Moderate leverage.
CWIP at ₹2,336Cr (52% of fixed assets). Significant capex underway — growth runway building.
DIIs: 5.07% (-0.92pp change). FIIs: 2.74% (-1.68pp change). Promoters hold 56.57%.
ROCE declining from 14% (Mar 2014) to 6% (Mar 2025). Working capital days: 38.
PE 15.4x with 6.44% ROCE. Price is -37% above book value of ₹228. Dividend yield: 2.83%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Newspaper Publication 12 May - Intimation regarding submission of newspaper publication of Postal Ballot notice dated 06/05/2026.
- Compliances-Reg.24(A)-Annual Secretarial Compliance 11 May - Submitted Annual Secretarial Compliance Report for FY 2025-26 ended 31 March 2026.
- Shareholder Meeting / Postal Ballot-Notice of Postal Ballot 11 May
- Announcement under Regulation 30 (LODR)-Change in Management 22 Apr - Board appointed Smt. Shalini Agarwal, IAS, as Additional Director nominee on 22 April 2026.
- Board Meeting Outcome for Outcome Of Board Meeting 22 Apr - Board appointed Shalini Agarwal, IAS, as additional nominee director effective 22 April 2026.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse