Gujarat Industries Power Company share price & results

Gujarat Industries Power Company Limited· Power· Utilities

Results to: Jun 2026
Latest analysed call: Q4 FY26
Ownership as of: Sept 2026

Gujarat state-promoted power generator running gas, lignite, wind and solar plants plus captive lignite mines.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	499 ₹ crore	+34.1% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	48.0 %	+18.0 pts YoY	Operating profit / revenue	Quarter to Jun 2026	For the quarter; a change is in percentage points.
Net profit	158 ₹ crore	+177.2% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.
Return on equity	Unavailable	+7.0 ptsFY Mar 2019 vs FY Mar 2018	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.
Free cash flow margin	Unavailable	+26.9 ptsFY Mar 2019 vs FY Mar 2018	Fiscal year	FY · period unavailable	Not in the analysed materials. No older figure is substituted.
Revenue growth (YoY)	Unavailable	+0.6 ptsFY Mar 2019 vs FY Mar 2018	Trailing twelve months	TTM · period unavailable	Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

8 targets tracked, none judged yet · 8 open · verdicts reflect calls analysed to Q4 FY26.

Gujarat Industries Power Company Limited management guidance track record on Inve: 8 targets tracked across analysed earnings calls (0 achieved, 0 missed, 8 open).

Target	Original wording	Said	Latest call	Verdict
Total EBITDA	INR950 crores to INR1,000 crores for FY27 Call transcript, Q4 FY26 · 10 Jul 2026	Q4 FY26	Q4 FY26:this EBITDA margin of INR950 crores to INR1,000 crores will be there, as you rightly mentioned. Call transcript, Q4 FY26 · 10 Jul 2026	New

Source: Inve Guidance Tracker for Gujarat Industries Power Company Limited · to Q4 FY26

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

8 of Gujarat Industries Power Company Limited's 8 targets are still open. See which are on track and which have gone quiet. The 1 above are the free sample; 7 more targets are in the full ledger.

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Price

₹158.29 +3.56% · +₹5.44

Last close 27 Oct 2026 · NSE · INR · Source: Inve

Performance −13.2% 1Y

1Y: ₹182.3 on 24 Oct 2025 → ₹158.29. High ₹208.04 (3 Sept 2026), low ₹120.8 (30 Mar 2026).

Previous close: ₹152.85
Market cap: ₹2.4k Cr
52-week range: ₹120.8 – ₹208.04
One year: −13.34%

Overview

Symbol: NSE:GIPCL
Sector: Power
Industry: Utilities
Exchange: NSE
Currency: INR

What Gujarat Industries Power Company Limited does

Based on the company's own presentations, annual report and earnings calls.

GIPCL generates and sells electricity from a diversified portfolio of gas-based and lignite-based thermal plants and wind and solar renewable plants located across Gujarat. It operates captive Vastan and Mangrol-Valia lignite mines to fuel its Surat Lignite Power Plant, reducing dependence on external fuel supply. The company was promoted by Gujarat State Fertilizers and Chemicals Ltd, Gujarat Alkalies and Chemicals Ltd and Gujarat Urja Vikas Nigam Ltd, and sells power under long-term PPAs and group-captive arrangements to state utilities and industrial customers. It earns by selling generated units of power and, where applicable, mined lignite/limestone used in its own operations.

Segments

Thermal - Gas
Thermal - Lignite
Renewable - Wind
Renewable - Solar

Total installed generation capacity: 1,574.4 MW
Individual generating units/plants commissioned: 19 units (gas, lignite, solar and wind) commissioned between 1992 and 2025
Captive lignite mines: 2 (Vastan Lignite Mine and Mangrol-Valia Lignite Mine) supplying the Surat Lignite Power Plant
Thermal capacity mix: 310 MW gas-based (Vadodara) + 500 MW lignite-based (Surat Lignite Power Plant, two phases)
Wind power capacity: 112.4 MW across 5 sites in Kutch, Amreli, Botad, Rajkot and Porbandar districts, Gujarat
Solar power capacity: 262 MW across Charanka, Raghanesda and Vastan solar parks, plus additional Khavda solar units commissioned in 2025

Founded 1985Headquarters Vadodara, Gujarat, India Company website

How the price took the results

close before → close after

Q4 FY26: +0.7%; 10 Jul

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Guidance

What management said, and what became of it

8 targets tracked, none judged yet · 8 open · verdicts reflect calls analysed to Q4 FY26.

Gujarat Industries Power Company Limited management guidance track record on Inve: 8 targets tracked across analysed earnings calls (0 achieved, 0 missed, 8 open).

Target	Original wording	Said	Latest call	Verdict
Total EBITDA	INR950 crores to INR1,000 crores for FY27 Call transcript, Q4 FY26 · 10 Jul 2026	Q4 FY26	Q4 FY26:this EBITDA margin of INR950 crores to INR1,000 crores will be there, as you rightly mentioned. Call transcript, Q4 FY26 · 10 Jul 2026	New

Source: Inve Guidance Tracker for Gujarat Industries Power Company Limited · to Q4 FY26

The full ledger

Open Gujarat Industries Power Company Limited’s full ledger

A free account opens 5 company ledgers a month. All 8 tracked commitments, with each call’s wording and source.

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Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2014 to Mar 2019).

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
59.00 days 39.00 days 72.00 days 69.00 days 70.00 days 56.00 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
59.00 days 39.00 days 72.00 days 69.00 days 70.00 days 56.00 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
-35.00 days -40.00 days 8.00 days -23.00 days -12.00 days -8.00 days

How it is calculated. Reported net working capital days from the annual accounts.
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
20.00% 30.00% 22.00% 18.00% 25.00% 17.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
59.00 days	39.00 days	72.00 days	69.00 days	70.00 days	56.00 days

Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
59.00 days	39.00 days	72.00 days	69.00 days	70.00 days	56.00 days

Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
-35.00 days	-40.00 days	8.00 days	-23.00 days	-12.00 days	-8.00 days

Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
20.00%	30.00%	22.00%	18.00%	25.00%	17.00%

Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +177% (quarter to jun 2026 against jun 2025).

In ₹ crore. Oldest period first.

Line item	Sept 2024	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	276	322	338	372	321	370	428	499
Expenses	195	233	219	259	214	248	233	258
Operating profit	81	89	119	113	108	122	195	242
Operating margin	29.0%	28.0%	35.0%	30.0%	34.0%	33.0%	46.0%	48.0%
Other income	17	15	15	19	21	13	42	112
Interest	8	8	7	7	18	36	49	51
Depreciation	43	43	42	46	64	78	90	91
Profit before tax	48	53	86	79	46	21	98	211
Tax rate	27.0%	27.0%	18.0%	28.0%	54.0%	115.0%	−234.0%	25.0%
Net profit	35	39	70	57	21	-3	327	158
EPS (₹ per share)	2.30	2.59	4.49	3.70	1.37	-0.21	21.06	10.17

Source: Inve data · income statement, quarterly · to Jun 2026

In ₹ crore. Oldest period first.

Line item	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Sales	1,355	1,349	1,256	1,491
Expenses	948	967	851	954
Operating profit	408	382	405	538
Other income	48	77	68	95
Interest	38	37	32	110
Depreciation	165	168	170	278
Profit before tax	253	253	273	244
Net profit	189	198	212	402

Source: Inve data · income statement, annual · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026
Equity capital	151	151	151	155	155	155
Reserves	2,893	3,003	3,154	3,369	3,381	3,685
Borrowings	529	493	614	2,028	2,803	3,594
Other liabilities	830	839	1,298	2,015	2,241	1,992
Total liabilities	4,403	4,487	5,218	7,567	8,580	9,426
Fixed assets	3,056	2,951	2,981	2,830	4,459	6,018
Capital work in progress	41	75	437	3,266	2,336	2,066
Investments	148	106	124	106	103	96
Other assets	1,158	1,355	1,678	1,366	1,682	1,245
Total assets	4,403	4,487	5,218	7,567	8,580	9,426

Source: Inve data · balance sheet · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operations	193	362	410	562	610	649
Cash from investing	-231	-340	-128	-217	-2,149	-2,238
Cash from financing	-47	-25	-110	-190	1,399	1,381
Net cash flow	-85	-2	172	155	-140	-208
Free cash flow	-47	29	284	100	-1,574	-1,667

Source: Inve data · cash flow · to Mar 2026

In days and %. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	81	101	83	76	58	64
Cash conversion cycle	81	101	83	76	58	64
Working capital days	65	79	86	58	-139	-88
Return on capital employed	9.0%	8.0%	8.0%	8.0%	6.0%	5.0%
Dividend payout	23.0%	22.0%	30.0%	30.0%	30.0%	16.0%

Source: Inve data · annual ratios · to Mar 2026

Ownership

Who owns it

Promoters hold 56.57% as of Sept 2026; institutions cut 0.21 pts since Jun 2026.

Promoters 0.00 pts 56.57%
Foreign institutions −0.15 pts 2.73%
Domestic institutions −0.06 pts 4.93%
Government 0.00 pts 1.44%
Public +0.23 pts 34.34%

90,459 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 8 filings held

Who was buying across the market this quarter

Who is on the register

Named in the Sep 2026 filing

Every holder of Gujarat Industries Power Company Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	24.73%	unchanged
	16.15%	unchanged
	15.68%	unchanged
Mutual fund	4.08%	unchanged
	3.21%	unchanged
	2.38%	unchanged
	1.42%	unchanged
AIF	—	off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in GIPCL

Filings to Sep 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds: ₹114 Cr; 1 schemes
Biggest holder: HDFC Balanced Advantage Fund; ₹114 Cr · 0.1% of that fund

Scheme	Holding	Last month	Held since
HDFC Balanced Advantage Fund HDFC Mutual Fund	₹114 Cr	held	Dec '22

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Sep 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on: +92%; vs est. average cost
Held by funds: ₹114 Cr; 1 schemes · ≈ 4.2% of the company

Shares held by these funds −10%

Oct '23 63.27 L shares Sep '26

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Gujarat Industries Power Company share price & results

The figures, each with its period

What management said, and what became of it

Performance −13.2% 1Y

What Gujarat Industries Power Company Limited does

How the price took the results

What management said, and what became of it

Open Gujarat Industries Power Company Limited’s full ledger

Q4 FY26 — 10 Jul 2026

Gujarat Industries Power Company Limited earnings calls (GIPCL)

Ratios, each with its period

What the filings say

Who owns it

Who is on the register

Mutual funds in GIPCL

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