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Gujarat Industries Power Company (GIPCL)₹163.40−0.51%Power Generation
In the Mar 2026 quarter (standalone), Gujarat Industries Power Company reported sales of ₹428 Cr, up 26.5% from Mar 2025, and net profit of ₹327 Cr, up 367.2% year on year. For the year to Mar 2026, sales were ₹1,490 Cr and net profit ₹402 Cr.
Company filings, standalone accounts; latest reported quarter Mar 2026
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 342 | 280 | 354 | 373 | 320 | 276 | 322 | 338 | 372 | 321 | 370 | 428 |
| Expenses | 236 | 218 | 259 | 254 | 204 | 195 | 233 | 219 | 258 | 214 | 248 | 233 |
| Operating Profit | 106 | 62.03 | 94.98 | 119 | 116 | 81.05 | 88.95 | 119 | 113 | 108 | 122 | 195 |
| OPM % | 31.0% | 22.0% | 27.0% | 32.0% | 35.9% | 29.0% | 28.0% | 35.0% | 30.0% | 34.0% | 33.0% | 45.9% |
| Other Income | 17.99 | 26.02 | 16.01 | 16.99 | 21.01 | 16.99 | 15.01 | 15.01 | 19.01 | 20.99 | 13.01 | 42.04 |
| Interest | 9.03 | 10.04 | 9.03 | 9.03 | 9.04 | 8.03 | 8.02 | 7.02 | 7.02 | 18.06 | 36.13 | 49.15 |
| Depreciation | 42.03 | 42.03 | 41.97 | 42.01 | 42.04 | 42.97 | 42.99 | 41.98 | 46.04 | 64.03 | 78.05 | 90.03 |
| Profit before tax | 73.15 | 36.08 | 59.12 | 85.05 | 86.05 | 48.03 | 53.10 | 86.12 | 79.10 | 46.10 | 21.02 | 98.11 |
| Tax % | 21.0% | 21.0% | 21.0% | 22.0% | 21.0% | 27.0% | 27.0% | 18.0% | 28.0% | 54.0% | 115.0% | −234.0% |
| Net Profit | 57.11 | 28.05 | 47.06 | 66.06 | 68.12 | 35.03 | 39.06 | 70.03 | 57.05 | 21.02 | −3.01 | 327 |
| EPS (Rs) | 3.80 | 1.86 | 3.09 | 4.37 | 4.47 | 2.31 | 2.58 | 4.48 | 3.71 | 1.38 | −0.20 | 21.05 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,352 | 1,310 | 1,353 | 1,406 | 1,379 | 1,334 | 1,172 | 1,357 | 1,349 | 1,257 | 1,490 | 1,490 |
| Expenses | 944 | 877 | 869 | 858 | 873 | 909 | 766 | 947 | 965 | 849 | 952 | 953 |
| Operating Profit | 407 | 432 | 483 | 548 | 505 | 424 | 406 | 408 | 381 | 406 | 539 | 538 |
| OPM % | 30.0% | 32.9% | 36.0% | 39.0% | 37.0% | 32.0% | 34.9% | 30.0% | 28.0% | 32.0% | 35.9% | 36.1% |
| Other Income | 36.02 | 69.01 | 51.02 | −101 | 42.01 | 30.01 | 20.99 | 48.02 | 75.98 | 69.03 | 95.09 | 95.05 |
| Interest | 76.23 | 73.28 | 57.20 | 50.14 | 51.19 | 31.10 | 29.11 | 38.13 | 37.14 | 32.11 | 111 | 110 |
| Depreciation | 118 | 127 | 160 | 168 | 191 | 155 | 151 | 165 | 168 | 170 | 278 | 278 |
| Profit before tax | 250 | 301 | 317 | 228 | 305 | 269 | 248 | 253 | 253 | 273 | 245 | 244 |
| Tax % | 25.0% | 24.0% | 23.0% | 23.0% | 19.0% | 33.0% | 31.0% | 26.0% | 21.0% | 23.0% | −64.0% | — |
| Exceptional items | 0.00 | −0.99 | 0.00 | −129 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — |
| Net Profit | 188 | 229 | 244 | 176 | 248 | 180 | 171 | 189 | 199 | 211 | 402 | 402 |
| EPS (Rs) | 12.46 | 15.15 | 16.16 | 11.67 | 16.41 | 11.88 | 11.34 | 12.47 | 13.11 | 13.61 | 25.92 | 25.94 |
| Dividend payout % | 21.9% | 18.0% | 16.9% | 24.9% | 18.0% | 23.0% | 22.0% | 30.0% | 30.0% | 29.9% | 14.9% | — |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 151 | 155 | 156 |
| Reserves | 1,685 | 1,883 | 2,086 | 2,310 | 2,421 | 2,596 | 2,705 | 2,894 | 3,004 | 3,156 | 3,375 | 3,687 |
| Borrowings | 605 | 475 | 416 | 617 | 572 | 446 | 479 | 529 | 493 | 614 | 2,028 | 3,595 |
| Other Liabilities | 562 | 642 | 765 | 713 | 691 | 738 | 798 | 834 | 843 | 1,304 | 2,025 | 2,002 |
| Total Liabilities | 3,005 | 3,153 | 3,418 | 3,791 | 3,836 | 3,932 | 4,134 | 4,408 | 4,492 | 5,226 | 7,583 | 9,439 |
| Fixed Assets | 1,889 | 1,861 | 2,524 | 2,682 | 2,633 | 2,882 | 2,629 | 3,057 | 2,953 | 2,984 | 2,833 | 6,021 |
| CWIP | 41.13 | 153 | 24.06 | 6.02 | 167 | 5.01 | 293 | 41.10 | 75.15 | 438 | 3,276 | 2,072 |
| Investments | 208 | 251 | 282 | 329 | 90.38 | 60.19 | 88.36 | 149 | 106 | 124 | 106 | 96.30 |
| Other Assets | 865 | 887 | 588 | 774 | 945 | 984 | 1,124 | 1,161 | 1,358 | 1,682 | 1,368 | 1,248 |
| Inventories | 148 | 151 | 160 | 152 | 166 | 160 | 223 | 223 | 260 | 224 | 232 | 209 |
| Trade receivables | 128 | 266 | 248 | 260 | 214 | 193 | 295 | 325 | 307 | 281 | 200 | 262 |
| Cash & equivalents | 367 | 193 | 7.02 | 59.15 | 263 | 373 | 287 | 285 | 457 | 611 | 470 | 264 |
| Total Assets | 3,005 | 3,153 | 3,418 | 3,791 | 3,836 | 3,932 | 4,134 | 4,408 | 4,492 | 5,226 | 7,583 | 9,439 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 404 | 231 | 432 | 336 | 588 | 444 | 192 | 361 | 409 | 560 | 1,123 | 647 |
| Cash from investing activity | −124 | −177 | −457 | −388 | −238 | −113 | −231 | −339 | −128 | −216 | −2,656 | −2,230 |
| Cash from financing activity | −230 | −228 | −161 | 103 | −142 | −222 | −46.95 | −24.98 | −110 | −190 | 1,395 | 1,378 |
| Net cash flow | 49.85 | −173 | −186 | 50.81 | 208 | 109 | −84.76 | −1.99 | 171 | 155 | −141 | −207 |
| Capex | 103 | 186 | 476 | 377 | 253 | 114 | 240 | 342 | 127 | 462 | 2,702 | 2,214 |
| Free cash flow | 303 | 47.18 | −43.13 | −41.13 | 338 | 331 | −47.15 | 29.09 | 285 | 100 | −1,580 | −1,571 |
| CFO / OP % | 106.0% | 70.0% | 112.0% | 85.0% | 117.0% | 100.1% | 57.0% | 100.1% | 111.1% | 160.1% | 289.0% | 128.0% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 40 | 73 | 70 | 71 | 57 | 52 | 82 | 102 | 84 | 77 | 59 | 65 |
| Inventory days | — | — | — | — | — | — | — | — | — | — | — | 128 |
| Days payable | — | — | — | — | — | — | — | — | — | — | — | 35 |
| Cash conversion cycle | 38 | 71 | 68 | 69 | 55 | 50 | 80 | 100 | 82 | 75 | 57 | 156 |
| Working capital days | −40 | 8 | −23 | −12 | −8 | 38 | 65 | 79 | 86 | 58 | 38 | −88 |
| ROCE % | 13.9% | 12.9% | 14.9% | 13.0% | 16.0% | 11.0% | 9.0% | 8.0% | 8.0% | 8.0% | 6.0% | 5.0% |
For the Mar 2026 quarter, Gujarat Industries Power Company reported sales of ₹428 Cr, up 26.5% year on year and net profit of ₹327 Cr, up 367.2% year on year. The operating margin was 45.9%.
Gujarat Industries Power Company's sales for the year to Mar 2026 were ₹1,490 Cr; over the last twelve months they were ₹1,490 Cr.
Net profit for the year to Mar 2026 was ₹402 Cr, and ₹402 Cr over the last twelve months. Earnings per share over the same trailing period were ₹25.94.
Gujarat Industries Power Company reported borrowings of ₹3,595 Cr at Mar 2026, against cash and equivalents of ₹264 Cr.
Cash from operations was ₹647 Cr in the year to Mar 2026; after capital spending, free cash flow was −₹1,571 Cr.