GVK Power & Infrastructure Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2025 • Power: 100.0%
AI Sector View
AI GENERATEDPower
Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 46.0%
- Operating margins have improved to 82.2% from 37.6%
- Company has delivered good sales growth of 17.6% CAGR over last 5 years
- Working capital cycle has improved - days down from -488 to -996
- Company generates healthy free cash flow
CONS
- Net worth is negative - accumulated losses have eroded equity
- Company has a low return on equity of 0.0% over last 3 years
- Effective tax rate is unusually low at 8.4% - earnings may be flattered
- Recurring exceptional / one-off items are inflating headline profit
- Inventory has been piling up - inventory days up from 3 to 6
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ADANIPOWER | 209.85 | 28.39 | 404689.32 | 0.00 | 4866.60 | 47.24 | 18901.89 | 33.97 | 17.79 | 42.67 |
| NTPC | 333.30 | 11.64 | 323189.88 | 2.70 | 6896.44 | -88.71 | 50740.96 | 7.81 | 8.52 | 33.23 |
| POWERGRID | 269.10 | 15.74 | 250279.25 | 3.34 | 3598.42 | -0.89 | 11496.72 | 2.68 | 9.74 | 82.97 |
| ADANIGREEN | 1282.00 | 118.37 | 211167.98 | 0.00 | 9830.00 | 1092.96 | 44310.00 | 1066.05 | 9.90 | 91.24 |
| ADANIENSOL | 1373.75 | 57.55 | 168003.37 | 0.00 | 1236.56 | 129.44 | 9711.08 | 42.41 | 9.71 | 31.27 |
| TATAPOWER | 365.00 | 30.19 | 116629.89 | 0.68 | 1400.86 | 10.98 | 19051.26 | 5.63 | 11.63 | 21.53 |
| JSWENERGY | 525.45 | 48.97 | 96340.35 | 0.38 | 532.70 | -36.27 | 5207.13 | 1.24 | 8.50 | 55.22 |
| NHPC | 76.30 | 20.19 | 76643.62 | 2.11 | 1178.09 | 4.15 | 3808.31 | 18.50 | 6.16 | 61.80 |
| NTPCGREEN | 86.90 | 120.64 | 73224.80 | 0.00 | 3048.40 | 1282.62 | 11068.60 | 1527.23 | 3.73 | 91.95 |
| TORNTPOWER | 1298.20 | 28.15 | 65416.76 | 1.54 | 661.85 | -10.75 | 8124.15 | 2.75 | 14.37 | 18.93 |
| NLCINDIA | 264.25 | 11.42 | 36641.87 | 1.46 | 436.33 | -48.01 | 4716.75 | 23.29 | 11.27 | 32.83 |
| GVKPIL | 2.26 | 0.00 | 356.90 | 0.00 | -0.55 | 99.96 | 0.00 | -100.00 | 34.85 | — |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 500 | 380 | 135 | 69 | 224 | 391 | 143 | 44 | 81 | 0 | 0 | 0 | 0 | |
| 47 | 32 | 37 | 38 | 46 | 30 | 28 | 39 | 364 | 3 | 3 | 4 | 2 | |
| Operating Profit | 453 | 348 | 98 | 31 | 178 | 361 | 115 | 5 | -283 | -3 | -3 | -4 | -2 |
| OPM % | 90.60% | 91.60% | 72.77% | 44.83% | 79.52% | 92.41% | 80.43% | 10.84% | -351.58% | — | — | — | — |
| 15 | 16 | 20 | 24 | 17 | 621 | 18 | -16 | -1,041 | 1 | 2 | 1 | 2 | |
| Interest | 136 | 135 | 133 | 133 | 130 | 110 | 94 | 89 | 31 | 0 | 0 | 0 | 0 |
| Depreciation | 57 | 58 | 57 | 56 | 56 | 57 | 57 | 55 | 22 | 0 | 0 | 0 | 0 |
| Profit before Tax | 275 | 171 | -71 | -135 | 9 | 816 | -17 | -156 | -1,377 | -1 | -1 | -3 | -1 |
| Tax % | -0.17% | 8.83% | -8.28% | -6.26% | 47.69% | 0.58% | -33.28% | -25.47% | -0.00% | -0.00% | -0.00% | -14.45% | -0.00% |
| Net Profit | 0 | 0 | 0 | 0 | 5 | 811 | -23 | -195 | -1,377 | -1 | -1 | -3 | -1 |
| 0.75 | 0.39 | -0.38 | -0.63 | -0.07 | 4.57 | -0.09 | -0.83 | -5.28 | -0.01 | -0.01 | -0.02 | 0.00 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3,207 | 3,516 | 3,863 | 4,098 | 357 | 310 | 858 | 2,120 | 1,080 | 802 | 0 | |
| 2,036 | 2,360 | 2,307 | 2,393 | 992 | 226 | 566 | 802 | 154 | 143 | 12 | |
| Operating Profit | 1,171 | 1,156 | 1,556 | 1,705 | -635 | 84 | 292 | 1,318 | 927 | 659 | -12 |
| OPM % | 36.53% | 32.88% | 40.28% | 41.61% | -177.76% | 27.22% | 34.03% | 62.16% | 85.79% | 82.19% | — |
| 510 | 533 | 1,004 | 283 | 72 | 22 | 534 | 3,301 | 75 | 640 | 7 | |
| Interest | 1,651 | 1,890 | 1,643 | 1,530 | 402 | 305 | 421 | 1,074 | 534 | 423 | 0 |
| Depreciation | 549 | 669 | 725 | 792 | 60 | 52 | 136 | 400 | 227 | 224 | 0 |
| Profit before Tax | -518 | -870 | 193 | -307 | -1,024 | -251 | 269 | 3,143 | 240 | 652 | -6 |
| Tax % | -15.42% | -6.58% | 83.85% | 1.00% | -4.73% | -15.44% | 27.03% | 2.29% | 12.06% | 8.37% | -6.91% |
| Net Profit | -598 | -927 | 31 | -304 | -1,072 | -290 | 196 | 3,071 | 211 | 598 | -6 |
| EPS | 0.00 | 0.00 | 0.00 | -2.30 | -9.46 | -4.84 | 16.75 | 15.44 | 0.13 | 3.58 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -13%
- 5 Years:
- 18%
- 3 Years:
- -2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -40%
STOCK PRICE CAGR
- 10 Years:
- -10%
- 5 Years:
- -4%
- 3 Years:
- -31%
- 1 Year:
- -38%
RETURN ON EQUITY
- 10 Years:
- -30%
- 5 Years:
- 0%
- 3 Years:
- 0%
- Last Year:
- 0%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 158 | 158 | 158 | 158 | 158 | 158 | 158 | 158 | 158 | 158 |
| Minority Interest | 1,005 | 1,406 | 1,569 | 2,448 | 2,564 | 2,391 | 762 | 1,604 | 1,745 | 1,785 |
| 843 | -455 | -999 | -1,361 | -2,855 | -3,618 | -3,997 | -1,309 | -1,340 | -775 | |
| 18,639 | 17,694 | 17,618 | 18,792 | 17,949 | 3,550 | 10,554 | 4,962 | 3,364 | 890 | |
| Trade Payables | 227 | 278 | 250 | 205 | 180 | 43 | 83 | 24 | 12 | 11 |
| 1,423 | 1,427 | 1,514 | 1,486 | 2,439 | 17,424 | 3,954 | 2,122 | 3,701 | 2,967 | |
| Total Liabilities | 22,295 | 20,507 | 20,110 | 21,728 | 20,434 | 19,949 | 11,514 | 7,561 | 7,639 | 5,035 |
| 14,433 | 14,048 | 13,870 | 14,301 | 12,292 | 270 | 7,209 | 3,745 | 3,521 | 3,298 | |
| Capital Work in Progress | 915 | 833 | 930 | 2,553 | 3,547 | 571 | 0 | 0 | 0 | 0 |
| 3,744 | 1,874 | 906 | 893 | 159 | 21 | 1,375 | 1,501 | 1,390 | 125 | |
| 9 | 11 | 10 | 9 | 9 | 1 | 75 | 9 | 11 | 14 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 49 | 31 | |
| Cash & Bank | 906 | 1,028 | 1,373 | 568 | 318 | 125 | 557 | 508 | 505 | 673 |
| 2,287 | 2,715 | 3,021 | 3,404 | 4,109 | 18,961 | 2,298 | 1,798 | 2,164 | 895 | |
| Total Assets | 22,295 | 20,507 | 20,110 | 21,728 | 20,434 | 19,949 | 11,514 | 7,561 | 7,639 | 5,035 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 1,590 | 1,700 | 2,738 | 1,296 | 1,622 | 1,170 | -4,247 | 1,772 | 794 | 599 | |
| Cash from Investing | -1,490 | 897 | -8 | -782 | -433 | -111 | 15,711 | -98 | -159 | 81 |
| Cash from Financing | -569 | -2,172 | -2,431 | -1,052 | -1,330 | -835 | -11,771 | -1,484 | -638 | -830 |
| -417 | 159 | 43 | -585 | -111 | 271 | -314 | 39 | -4 | -150 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - GVK Power & Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-28 - GVK Power & Infrastructure Limited has informed the Exchange regarding Outcome of Board Meeting held on August 28, 2026.
2026-08-17 - GVK Power & Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - GVK Power & Infrastructure Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-07 - GVK Power & Infrastructure Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-25 - GVK Power & Infrastructure Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-25 - The Exchange has sought clarification from GVK Power & Infrastructure Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-06-15 - GVK Power & Infrastructure Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-05-30 - GVK Power & Infrastructure Limited has informed the Exchange about Copy of Newspaper Publication
News
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