Gujarat Industries Power Co Ltd

₹ 184 -2.00%

21 Nov - close price

About

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]

Key Points

Projects^[1]
1. Thermal
Gas - 2 projects in Vadodara with total 310 MW capacity.
** Lignite** - 2 projects in Nani Naroli with total 500 MW capacity.

Website BSE NSE

Market Cap ₹ 2,778 Cr.
Current Price ₹ 184
High / Low ₹ 270 / 151
Stock P/E 12.9
Book Value ₹ 223
Dividend Yield 2.15 %
ROCE 7.66 %
ROE 6.15 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.83 times its book value
Company has been maintaining a healthy dividend payout of 27.4%

Cons

The company has delivered a poor sales growth of -0.85% over past five years.
Company has a low return on equity of 6.02% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Power Generation & Distribution Industry: Power Generation And Supply

Part of BSE Allcap BSE Utilities BSE SmallCap

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	322	262	293	303	252	376	424	342	280	354	373	320	276
	203	174	177	178	177	294	299	236	218	259	254	204	195
Operating Profit	119	88	116	125	76	82	125	106	62	95	119	116	81
OPM %	37%	33%	40%	41%	30%	22%	29%	31%	22%	27%	32%	36%	29%
	5	5	7	6	14	19	9	18	26	16	17	21	17
Interest	7	7	7	9	9	10	10	9	10	9	9	9	8
Depreciation	37	41	40	41	41	42	41	42	42	42	42	42	43
Profit before tax	79	44	76	81	39	49	84	73	36	59	85	86	48
Tax %	32%	37%	28%	23%	32%	31%	22%	21%	21%	21%	22%	21%	27%
	53	28	55	63	27	34	65	57	28	47	66	68	35
EPS in Rs	3.53	1.85	3.61	4.16	1.76	2.25	4.30	3.79	1.87	3.08	4.38	4.48	2.30
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	1,416	1,377	1,215	1,352	1,311	1,354	1,407	1,379	1,335	1,172	1,356	1,349	1,322
	874	906	793	946	878	871	859	874	911	767	948	967	912
Operating Profit	542	470	422	407	432	483	548	505	424	406	408	381	411
OPM %	38%	34%	35%	30%	33%	36%	39%	37%	32%	35%	30%	28%	31%
	74	31	25	36	69	51	-101	42	30	21	48	76	71
Interest	105	88	78	76	73	57	50	51	31	29	38	37	35
Depreciation	158	156	120	118	127	160	168	191	155	151	165	168	169
Profit before tax	354	257	248	250	301	317	228	305	268	247	253	253	278
Tax %	38%	28%	49%	25%	24%	23%	23%	19%	33%	31%	26%	21%
	219	186	126	188	229	244	176	248	180	171	189	199	215
EPS in Rs	14.47	12.29	8.35	12.45	15.16	16.17	11.66	16.40	11.89	11.33	12.48	13.12	14.24
Dividend Payout %	17%	20%	30%	22%	18%	17%	25%	18%	23%	22%	30%	30%

Compounded Sales Growth
10 Years:	0%
5 Years:	-1%
3 Years:	0%
TTM:	-7%

Compounded Profit Growth
10 Years:	1%
5 Years:	-8%
3 Years:	3%
TTM:	16%

Stock Price CAGR
10 Years:	8%
5 Years:	22%
3 Years:	31%
1 Year:	15%

Return on Equity
10 Years:	8%
5 Years:	7%
3 Years:	6%
Last Year:	6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	151	151	151	151	151	151	151	151	151	151	151	151	151
Reserves	1,463	1,605	1,685	1,882	2,085	2,308	2,419	2,597	2,704	2,893	3,003	3,154	3,215
	855	716	606	475	417	617	573	447	480	529	493	614	696
	478	521	559	639	761	710	688	734	794	830	839	1,298	1,404
Total Liabilities	2,947	2,992	3,002	3,148	3,414	3,786	3,831	3,930	4,129	4,403	4,487	5,218	5,465
	2,133	1,991	1,890	1,859	2,522	2,680	2,632	2,883	2,628	3,056	2,951	2,981	2,900
CWIP	83	87	41	153	24	6	167	5	292	41	75	437	636
Investments	69	160	207	250	281	328	90	60	88	148	106	124	145
	661	754	863	885	587	772	942	982	1,121	1,158	1,355	1,678	1,784
Total Assets	2,947	2,992	3,002	3,148	3,414	3,786	3,831	3,930	4,129	4,403	4,487	5,218	5,465

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	408	398	405	232	433	337	590	445	193	362	410	562
	55	-86	-124	-178	-459	-389	-239	-113	-231	-340	-128	-217
	-237	-272	-230	-228	-161	103	-142	-222	-47	-25	-110	-190
Net Cash Flow	225	40	50	-174	-187	51	209	109	-85	-2	172	155

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	44	59	39	72	69	70	56	51	81	101	83	76
Inventory Days
Days Payable
Cash Conversion Cycle	44	59	39	72	69	70	56	51	81	101	83	76
Working Capital Days	-25	-16	-19	19	-12	17	7	39	87	116	112	86
ROCE %	16%	14%	14%	13%	15%	13%	16%	11%	9%	8%	8%	8%

Shareholding Pattern

Numbers in percentages

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
	55.69%	55.69%	55.69%	55.69%	55.69%	55.69%	55.69%	55.69%	55.43%	55.43%	55.43%	55.43%
	1.67%	1.64%	2.10%	2.76%	2.91%	2.90%	4.42%	3.88%	3.86%	4.97%	4.67%	4.49%
	7.33%	7.22%	8.50%	8.48%	6.81%	6.15%	5.99%	5.99%	5.96%	5.91%	5.86%	6.27%
	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%
	27.67%	27.81%	26.07%	25.42%	26.94%	27.62%	26.26%	26.80%	27.12%	26.07%	26.40%	26.16%
No. of Shareholders	78,015	78,446	75,887	73,440	72,832	72,252	67,858	74,802	82,412	99,346	97,729	96,409

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	58.21%	58.21%	55.69%	55.69%	55.69%	55.69%	55.69%	55.43%	55.43%
	3.91%	3.35%	2.87%	0.95%	1.50%	1.64%	2.90%	4.97%	4.49%
	10.93%	12.65%	15.42%	14.88%	11.70%	7.22%	6.15%	5.91%	6.27%
	7.64%	7.84%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%	7.64%
	19.31%	17.96%	18.38%	20.84%	23.46%	27.81%	27.62%	26.07%	26.16%
No. of Shareholders	58,158	53,522	52,293	52,887	67,352	78,446	72,252	99,346	96,409

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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