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Swing Capital

Gujarat Pipavav Port Ltd

NSE: GPPL BSE: 533248

Gujarat Pipavav Port is India's first private sector port located on the south west coast of Gujarat near Bhavnagar. The port is strategically placed to on International Maritime Trade route which connects India with US, Europe, Africa, Middle East on one side and Far east on the other side.

₹152
52W: ₹142 — ₹200
PE 16.8 · Book ₹45 · +238% vs book
Market Cap₹7,370 Cr
Stock P/E16.8Price to Earnings
ROCE24.9%Return on Capital
ROE19%Return on Equity
Div. Yield5.38%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Stock is providing a good dividend yield of 5.51%.
  • +Company has been maintaining a healthy dividend payout of 100%
  • +Debtor days have improved from 24.3 to 17.6 days.

Weaknesses

  • −The company has delivered a poor sales growth of 6.08% over past five years.

Shareholding Pattern

Promoters44.01%
FIIs22.14%
DIIs14.96%
Public18.88%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters44.01%44.01%44.01%44.01%44.01%44.01%44.01%44.01%
FIIs18.53%19.81%▲1.320.49%▲0.719.45%▼1.019.48%▲0.019.82%▲0.321.04%▲1.222.14%▲1.1
DIIs17.04%16.42%▼0.616.75%▲0.317.1%▲0.416.25%▼0.915.73%▼0.514.93%▼0.814.96%▲0.0
Public20.42%19.77%▼0.718.75%▼1.019.44%▲0.720.26%▲0.820.43%▲0.220.01%▼0.418.88%▼1.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales253270251246227263252250299292
Expenses10211094969412495102122132
Operating Profit151159157150133139157148178160
OPM %60%59%63%61%58%53%62%59%59%55%
Net Profit108110701059294109101158101
EPS ₹2.232.281.452.161.891.942.262.083.272.1

AI Insights

Revenue Trend

TTM revenue at ₹1,094Cr, up 10.7% YoY. OPM at 59%.

Debt Position

Borrowings at ₹51Cr. Debt-to-equity ratio: 0.03x. Healthy balance sheet.

Capex Cycle

CWIP at ₹26Cr (2% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 14.96% (-7.70pp change). FIIs: 22.14% (+1.12pp change). Promoters hold 44.01%.

Margin & Efficiency

ROCE improving from 13% (Dec 2013) to 25% (Mar 2025). Working capital days: -105.

Valuation

PE 16.8x with 24.9% ROCE. Price is 238% above book value of ₹45. Dividend yield: 5.38%.

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