Guj. Inds. Power

₹176.7 3.9 | 2.3%

WEBSITE BSE:517300 NSE : GUJ.IND.POW. 10 May, 16:01

Market Cap ₹2673 Cr.

Stock P/E 13.5

P/B 0.8

Current Price ₹176.7

Book Value ₹ 214.3

Face Value 10

52W High ₹237.2

Dividend Yield 2.12%

52W Low ₹ 92.3

Edit Ratio

Guj. Inds. Power Research see more...

Overview Inc. Year: 1985Industry: Power Generation/Distribution

Gujarat Industries Power Company Ltd is an India-based organization that is engaged within the generation of power from gas, lignite, wind and sun. The Company has a different portfolio of thermal (gas and lignite), wind and solar power plant belongings within the state of Gujarat. Its operational projects include 310 megawatts (MW) gasoline-primarily based combined cycle power plant at Baroda, 500 MW lignite-based plant with captive mines, Nani Naroli, at Taluka in Mangrol, Surat district and 374.4 MW renewable energy, which consists of application scale wind and sun initiatives. Its gas-based power plants encompass Vadodara Station-I and Vadodara Station-II. Its lignite plant includes Surat Lignite Power Plant. It additionally has diverse solar as well as wind farms. It has tasks in Vastan Lignite Mine and Mangrol-Valia Lignite Mine.

Guj. Inds. Power Share Price

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Peer Comparison

Guj. Inds. Power Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	322	262	293	303	252	376	424	342	280	354
Other Income	5	5	7	6	14	19	9	18	26	16
Total Income	327	266	300	309	266	396	433	360	306	369
Total Expenditure	203	174	177	178	177	294	299	236	218	259
Operating Profit	123	92	123	131	89	102	134	124	88	110
Interest	7	7	7	9	9	10	10	9	10	9
Depreciation	37	41	40	41	41	42	41	42	42	42
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	79	44	76	81	39	49	84	73	36	59
Provision for Tax	25	16	21	19	12	15	19	16	7	12
Profit After Tax	53	28	55	63	27	34	65	57	28	47
Adjustments	0	0	-0	0	0	0	0	0	-0	0
Profit After Adjustments	53	28	55	63	27	34	65	57	28	47
Adjusted Earnings Per Share	3.5	1.8	3.6	4.2	1.8	2.3	4.3	3.8	1.9	3.1

Guj. Inds. Power Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	1416	1377	1215	1352	1311	1354	1407	1379	1335	1172	1356	1400
Other Income	14	31	43	36	71	51	117	42	30	21	48	69
Total Income	1430	1408	1258	1388	1382	1405	1524	1421	1366	1194	1404	1468
Total Expenditure	874	906	792	951	882	873	859	874	911	767	948	1012
Operating Profit	557	501	466	437	500	532	665	547	455	427	456	456
Interest	105	88	78	76	73	57	50	51	31	29	38	38
Depreciation	158	156	120	112	126	158	168	191	155	151	165	167
Exceptional Income / Expenses	60	0	-19	0	0	0	-218	0	0	0	0	0
Profit Before Tax	354	257	249	250	301	317	228	305	269	247	253	252
Provision for Tax	135	71	123	61	72	73	52	57	89	76	65	54
Profit After Tax	219	186	126	188	229	245	176	248	180	171	189	197
Adjustments	0	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	219	186	126	188	229	245	176	248	180	171	189	197
Adjusted Earnings Per Share	14.5	12.3	8.4	12.4	15.2	16.2	11.7	16.4	11.9	11.3	12.5	13.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	16%	-1%	0%	-0%
Operating Profit CAGR	7%	-6%	-3%	-2%
PAT CAGR	11%	-9%	-5%	-1%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	90%	29%	21%	9%
ROE Average	6%	6%	7%	9%
ROCE Average	8%	8%	9%	12%

Guj. Inds. Power Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	1614	1756	1837	2033	2236	2459	2571	2748	2855	3044	3154
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	642	537	432	327	271	361	367	384	395	400	391
Other Non-Current Liabilities	151	177	257	371	402	442	456	541	553	612	658
Total Current Liabilities	540	522	476	417	505	523	438	257	327	347	284
Total Liabilities	2947	2992	3002	3148	3414	3786	3831	3930	4129	4403	4487
Fixed Assets	2133	1991	1890	1977	2522	2680	2632	2883	2628	3056	2951
Other Non-Current Assets	201	298	402	532	464	567	531	275	651	463	475
Total Current Assets	612	704	710	638	428	539	668	771	850	884	1061
Total Assets	2947	2992	3002	3148	3414	3786	3831	3930	4129	4403	4487

Guj. Inds. Power Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	51	275	315	362	188	1	52	261	370	285	282
Cash Flow from Operating Activities	408	398	405	232	433	337	611	445	193	362	410
Cash Flow from Investing Activities	55	-86	-124	-178	-459	-389	-265	-113	-231	-340	-128
Cash Flow from Financing Activities	-237	-272	-230	-228	-161	103	-137	-222	-47	-25	-110
Net Cash Inflow / Outflow	225	40	50	-174	-187	51	209	109	-85	-2	172
Closing Cash & Cash Equivalent	275	315	366	188	1	52	261	370	285	282	454

Guj. Inds. Power Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	14.47	12.29	8.35	12.45	15.16	16.17	11.66	16.4	11.89	11.33	12.48
CEPS(Rs)	24.93	22.57	16.29	19.86	23.48	26.59	22.8	29.01	22.14	21.31	23.38
DPS(Rs)	2.5	2.5	2.5	2.7	2.7	2.7	2.9	2.9	2.7	2.5	3.75
Book NAV/Share(Rs)	106.72	116.08	121.42	134.43	147.83	162.58	169.96	181.69	188.76	201.28	208.55
Core EBITDA Margin(%)	38.31	34.16	34.8	29.67	32.73	35.51	38.95	36.62	31.78	34.62	30.09
EBIT Margin(%)	32.39	25.1	26.96	24.05	28.55	27.65	19.8	25.83	22.43	23.55	21.47
Pre Tax Margin(%)	24.97	18.69	20.53	18.47	22.96	23.45	16.22	22.15	20.11	21.09	18.7
PAT Margin (%)	15.46	13.5	10.4	13.92	17.49	18.06	12.53	17.99	13.46	14.61	13.92
Cash Profit Margin (%)	26.63	24.8	20.28	22.21	27.1	29.71	24.5	31.82	25.07	27.49	26.09
ROA(%)	7.44	6.26	4.21	6.12	6.99	6.79	4.63	6.39	4.46	4.02	4.24
ROE(%)	14.34	11.03	7.03	9.73	10.74	10.42	7.01	9.32	6.42	5.81	6.09
ROCE(%)	18.9	13.99	13.33	13.14	14.5	13.07	8.96	11.24	9.18	8.01	8.08
Receivable days	49.17	52.24	52.74	53.19	71.53	68.48	61.52	53.87	66.7	96.55	85.1
Inventory Days	31.76	31.93	40.26	40.29	43.24	41.98	41.13	43.15	52.2	69.12	64.8
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	5.13	5.35	10.17	6.48	6.84	6.01	6.1	3.06	6.37	6.48	6.08
Price/Book(x)	0.7	0.57	0.7	0.6	0.7	0.6	0.42	0.28	0.4	0.36	0.36
Dividend Yield(%)	3.37	3.8	2.94	3.35	2.61	2.78	4.07	5.79	3.57	3.41	4.95
EV/Net Sales(x)	1.2	1.01	1.26	1.11	1.51	1.5	0.99	0.6	1	1.15	0.87
EV/Core EBITDA(x)	3.06	2.78	3.27	3.44	3.95	3.81	2.09	1.52	2.93	3.15	2.58
Net Sales Growth(%)	8.91	-2.78	-11.77	11.33	-3.08	3.3	3.95	-2.03	-3.15	-12.2	15.62
EBIT Growth(%)	76.07	-24.65	-5.27	-0.66	15.03	0.04	-25.57	27.82	-15.88	-7.84	5.41
PAT Growth(%)	84.92	-15.08	-32.05	49.04	21.77	6.66	-27.85	40.58	-27.51	-4.71	10.15
EPS Growth(%)	84.92	-15.08	-32.05	49.04	21.77	6.66	-27.85	40.58	-27.51	-4.71	10.15
Debt/Equity(x)	0.53	0.41	0.33	0.23	0.19	0.25	0.22	0.16	0.17	0.17	0.15
Current Ratio(x)	1.13	1.35	1.49	1.53	0.85	1.03	1.53	3	2.6	2.55	3.73
Quick Ratio(x)	0.91	1.12	1.18	1.17	0.53	0.74	1.15	2.38	1.92	1.91	2.82
Interest Cover(x)	4.36	3.92	4.2	4.3	5.11	6.58	5.54	7.02	9.65	9.6	7.75
Total Debt/Mcap(x)	0.76	0.72	0.47	0.39	0.27	0.42	0.53	0.59	0.41	0.47	0.42

Guj. Inds. Power Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	55.69	55.69	55.69	55.69	55.69	55.69	55.69	55.69	55.43	55.43
FII	1.67	1.64	2.1	2.76	2.91	2.9	4.42	3.88	3.86	4.97
DII	14.97	14.85	16.13	16.13	14.45	13.79	13.63	13.63	13.6	13.55
Public	27.67	27.81	26.07	25.42	26.95	27.62	26.25	26.8	27.12	26.05
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	8.42	8.42	8.42	8.42	8.42	8.42	8.42	8.42	8.38	8.38
FII	0.25	0.25	0.32	0.42	0.44	0.44	0.67	0.59	0.58	0.75
DII	2.26	2.25	2.44	2.44	2.19	2.09	2.06	2.06	2.06	2.05
Public	4.19	4.21	3.94	3.85	4.08	4.18	3.97	4.05	4.1	3.94
Others	0	0	0	0	0	0	0	0	0	0
Total	15.13	15.13	15.13	15.13	15.13	15.13	15.13	15.13	15.13	15.13

Pros

Stock is trading at 0.8 times its book value
Company has reduced debt.
Company is almost debt free.

Cons

Company has a low return on equity of 6% over the last 3 years.
The company has delivered a poor profit growth of -5% over past five 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.