Minerva Capital Research Solutions

Gujarat Industries Power Company

NSE: GIPCLBSE: 517300
Compare with peers
₹ 163.60▲ 5.31 (+3.35%)28 Oct, 03:29 pm IST
Market cap
₹ 2,396 Cr.
P/E
7.2x
P/B
0.58x
52-week range
119.9 – 211.71
ROE
11%
ROCE
5%
Dividend yield
2.6%
Debt / equity
0.85
Sector
Power
Industry
Power Generation
Listed on
NSE, BSE

About

Gujarat Industries Power Company Limited is engaged in the generation of power from gas, lignite, wind and solar and in the development of hybrid renewable energy park. It is in the business of electrical power generation. The installed capacity is 1364.4MW. It has a diversified power generation portfolio comprising thermal (lignite and gas) and renewable (wind and solar) power plants. It also operates captive Lignite and Limestone Mines to meet the fuel requirement of the 500 MW Surat Lignite Power Plant. Its non-renewable power plants include Vadodara Station - I, Vadodara Station - II, and Surat Lignite Power Plant (SLPP), Village Nani Naroli, Taluka Mangrol, Dist. Surat - Phase I & II. The Company's renewable power plants include solar power plants and wind farms. Its projects include 15 MW Wind Power Project; 26 MW Wind Power Project; 50.4 MW Wind Power Project; 21 MW Wind Power Project; 80 MW Solar Power Project; 75 MW Solar Power Project, and 100 MW Solar Power Project.

Quick check

The five things to look at first. Open one for more.

Compared with its industry

Power Generation: 36 companies →

Gujarat Industries Power Company against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

  • Valuation (P/E)7.2 against a typical 35.5: cheaper than most peers (1st = cheapest).3rd of 36
  • Sales growth+34.1% against a typical +6.5% from a year earlier.10th of 30
  • Profit growth+177.2% against a typical −1.3% from a year earlier.2nd of 25
  • Share price, 3 months+0.6% against a typical −11.9%.6th of 34
  • Size₹ 2,396 Cr. market value against a typical ₹ 2,247.1 Cr. (1st = largest).16th of 33

Latest announcements

Exchange filings and their impact on the company.

  • 17 Oct 2026Awarding of order(s)/contract(s)Low impactPositivePrice −0.8% on 19 Oct
    Bondada accepted GIPCL's LOI for 20MW/120MWh BESS after GUVNL approval, a small contracted storage expansion.

    GIPCL said Bondada Engineering accepted its Letter of Intent on 17 October 2026 for a 20 MW / 120 MWh Battery Energy Storage System at GIPCL's 132 kV substation. The work covers design, supply, civil works, erection, commissioning and 10 years of operation and maintenance, and follows approval from GUVNL. Other terms remain as disclosed on 11 August 2026. It is a small contracted storage expansion that adds capex now and revenue after commissioning.

    Filing

Credit ratings

Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates

High safety

Rated AA- by CARE
AA-
DefaultRiskyModerateSafeVery safe
  • No warnings from the agency.
AgencyCurrent ratingOutlookAs of
CARECARE AA-Stable3 Sep 2026
Credit rating actions
RatingDetails
3 Sep 2026
Reaffirmed
CARE AA-—CARE₹ 6,280.71 Cr.

Board meetings

Results dates and other board meetings. Full calendar

Details
5 Nov 2026UpcomingFinancial ResultsTo consider and approve the financial results for the period ended September 30, 2026
11 Aug 2026Financial ResultsTo consider and approve the financial results for the period ended Jun 30, 2026
29 May 2026Financial Results/DividendTo consider and approve inter alia, Audited Financial Result and Dividend, subject to Shareholders approval at ensuing Annual General meeting.
9 Mar 2026Other business mattersTo consider other business matters
12 Feb 2026Financial ResultsTo consider and approve the financial results for the period ended December 31, 2025.
12 Nov 2025Financial ResultsTo consider and approve the financial results for the first half year of F.Y. 2025-26 and Second Quarter period ended September 30, 2025
12 Aug 2025Financial ResultsTo consider and approve the quarterly unaudited financial results for the period ended Jun 30, 2025.

Share price

1Y change −10.43%
0 of 1 filing day came with a big price move
Volume (shares)Price (₹)
Close price

Financials

Consolidated figures in ₹ crore.

Quarterly results
₹ Cr.Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales280354373320276322338372321370428499
Expenses218259254204195233219259214248233258
Operating Profit62951191168189119113108122195242
OPM %22%27%32%36%29%28%35%30%34%33%46%48%
Other Income2616172117151519211342112
Interest10999887718364951
Depreciation424242424343424664789091
Profit before tax3659858648538679462198211
Tax %21%21%22%21%27%27%18%28%54%115%−234%25%
Net Profit284766683539705721−3327158
EPS in Rs1.873.084.384.482.32.594.493.71.37−0.2121.0610.17

Growth and returns

Compounded yearly rates over each period.

Compounded Sales Growth
10 Years
1%
5 Years
2%
3 Years
3%
TTM
24%
Compounded Profit Growth
10 Years
8%
5 Years
17%
3 Years
29%
TTM
150%
Stock Price CAGR
10 Years
6%
5 Years
15%
3 Years
14%
TTM
—
Return on Equity
10 Years
8%
5 Years
7%
3 Years
8%
TTM
—

Shareholding

Latest: Jun 2026.

Promoters
56.57%
0 pts in a year
FIIs
2.88%
−1.16 pts in a year
DIIs
4.99%
−0.61 pts in a year
Government
1.44%
−6.01 pts in a year
Public
34.11%
+7.76 pts in a year

P/E and EPS over time

Daily P/E and trailing 12-month EPS. EPS updates with each result.

P/E 7.2xEPS (12 months) ₹ 23.27Median P/E 6.7x
P/E (times)EPS (₹)

Peers

Listed companies in the same business.

Peer comparison
Gujarat Industries Power Company₹ 163.60₹ 2,396 Cr.7.2x0.6x11%—
Adani Power₹ 182.00₹ 70,196 Cr.32.2x6.4x21.2%23.9%
Power Grid Corporation of India₹ 247.20₹ 2,29,911 Cr.14.1x2.6x16.5%40%
Adani Green Energy₹ 1,185.00₹ 1,95,190 Cr.129.2x12.5x10.3%12.1%
Adani Energy Solutions₹ 1,219.85₹ 1,49,972 Cr.90.2x8.1x9.6%8.5%
Siemens Energy India₹ 2,649.00₹ 94,586 Cr.109x27.5x30.2%15%

Management

Jayanti S. Ravi
Chairman of the Board
Kamlesh Kumar Bhat
Chief Financial Officer, Executive Director - Finance
Shalin Mukesh Patel
Compliance Officer, Company Secretary
Vatsala Vasudeva
Managing Director, Executive Director
P. C. Goyal
General Manager - Mines
P. S. Goyal
General Manager - (RE & O&M)
S. V. Mani
General Manager - Commercial, Finance and Legal
N. C. Munshi
General Manager - Human Resources and Administration

Prices are delayed and for information only. Nothing on this page is investment advice.