Gujarat Pipavav Port Ltd.

•

₹ 163.54-0.77%

2026-08-21

pipavav.com / www.apmterminals.comBSE: 533248NSE: GPPL

Market Cap₹ 7,977 Cr.

Current Price₹ 165

High / Low₹ 200 / 142

Stock P/E14.3

Book Value₹ 52

Price to Book2.88

Dividend Yield6.30 %

ROCE29.5 %

ROE21.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 24.9%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 41.8% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.15x)

CONS

Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

ServicesLogisticsPort

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	ADANIPORTS	1679.50	29.51	386949.93	0.45	3649.50	10.24	10820.80	18.57	15.03	60.26
2.	JSWINFRA	330.15	51.79	76925.00	0.27	357.60	-8.21	1444.83	18.06	14.26	46.64
3.	GPPL	165.00	14.28	7976.76	6.30	147.90	41.77	331.77	32.47	29.46	64.86

Detailed Comparison with:

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
	215	253	270	251	246	227	263	252	250	299	292	317	332
	109	102	110	94	96	94	124	95	102	122	132	94	150
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	19	18	19	19	22	21	19	19	20	20	15	16	15
Interest	3	2	2	3	2	2	1	2	2	1	2	1	1
Depreciation	29	29	29	29	29	29	31	28	31	32	32	30	31
	89	141	147	93	140	123	126	146	135	208	136	189	199
Tax %	25.60%	37.83%	24.98%	26.49%	24.30%	41.31%	26.00%	25.82%	25.86%	25.93%	26.35%	26.14%	25.49%
Net Profit	0	0	0	0	110	75	99	112	104	161	108	142	148
	1	2	2	1	2	2	2	2	2	3	2	3	0
Equity Capital	483	483	483	483	483	483	483	483	483	483	483	483	483
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	483	483	483	483	483	483	483	483	483	483	483	483	483
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 215
: 109
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 3
Depreciation: 29
: 89
Tax %: 25.60%
Net Profit: 0
: 1
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 253
: 102
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 2
Depreciation: 29
: 141
Tax %: 37.83%
Net Profit: 0
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 270
: 110
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 2
Depreciation: 29
: 147
Tax %: 24.98%
Net Profit: 0
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 251
: 94
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 3
Depreciation: 29
: 93
Tax %: 26.49%
Net Profit: 0
: 1
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 246
: 96
Operating Profit: —
OPM %: —
Other Income: 22
Interest: 2
Depreciation: 29
: 140
Tax %: 24.30%
Net Profit: 110
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 227
: 94
Operating Profit: —
OPM %: —
Other Income: 21
Interest: 2
Depreciation: 29
: 123
Tax %: 41.31%
Net Profit: 75
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 263
: 124
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 1
Depreciation: 31
: 126
Tax %: 26.00%
Net Profit: 99
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 252
: 95
Operating Profit: —
OPM %: —
Other Income: 19
Interest: 2
Depreciation: 28
: 146
Tax %: 25.82%
Net Profit: 112
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 250
: 102
Operating Profit: —
OPM %: —
Other Income: 20
Interest: 2
Depreciation: 31
: 135
Tax %: 25.86%
Net Profit: 104
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 299
: 122
Operating Profit: —
OPM %: —
Other Income: 20
Interest: 1
Depreciation: 32
: 208
Tax %: 25.93%
Net Profit: 161
: 3
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 292
: 132
Operating Profit: —
OPM %: —
Other Income: 15
Interest: 2
Depreciation: 32
: 136
Tax %: 26.35%
Net Profit: 108
: 2
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 317
: 94
Operating Profit: —
OPM %: —
Other Income: 16
Interest: 1
Depreciation: 30
: 189
Tax %: 26.14%
Net Profit: 142
: 3
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 332
: 150
Operating Profit: —
OPM %: —
Other Income: 15
Interest: 1
Depreciation: 31
: 199
Tax %: 25.49%
Net Profit: 148
: 0
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 483
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	683	649	702	735	733	741	917	988	986	1,158	1,241
	265	275	313	289	311	331	415	416	411	456	497
Operating Profit	450	411	434	494	463	441	553	648	659	781	—
OPM %	66	63	62	67	63	60	60	66	67	67	—
Other Income	32	37	45	47	40	31	51	76	83	80	67
Interest	0	0	0	7	6	5	8	9	6	7	6
Depreciation	107	104	113	131	133	129	116	116	117	126	126
	379	330	352	386	330	307	413	479	552	689	732
Tax %	26	33	33	17	33	36	24	29	28	25	26
Net Profit	282	221	237	319	222	197	313	342	397	515	542
EPS	6	5	5	7	5	4	6	7	8	11	—
Dividend Payout %	65	74	71	85	98	98	94	103	100	98	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	18
Adjusted EPS	6	5	5	7	5	4	6	7	8	11	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	18
Adjusted EPS	6	5	5	7	5	4	6	7	8	11	—

Mar 2017

: 683
: 265
Operating Profit: 450
OPM %: 66
Other Income: 32
Interest: 0
Depreciation: 107
: 379
Tax %: 26
Net Profit: 282
EPS: 6
Dividend Payout %: 65
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2018

: 649
: 275
Operating Profit: 411
OPM %: 63
Other Income: 37
Interest: 0
Depreciation: 104
: 330
Tax %: 33
Net Profit: 221
EPS: 5
Dividend Payout %: 74
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2019

: 702
: 313
Operating Profit: 434
OPM %: 62
Other Income: 45
Interest: 0
Depreciation: 113
: 352
Tax %: 33
Net Profit: 237
EPS: 5
Dividend Payout %: 71
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2020

: 735
: 289
Operating Profit: 494
OPM %: 67
Other Income: 47
Interest: 7
Depreciation: 131
: 386
Tax %: 17
Net Profit: 319
EPS: 7
Dividend Payout %: 85
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2021

: 733
: 311
Operating Profit: 463
OPM %: 63
Other Income: 40
Interest: 6
Depreciation: 133
: 330
Tax %: 33
Net Profit: 222
EPS: 5
Dividend Payout %: 98
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2022

: 741
: 331
Operating Profit: 441
OPM %: 60
Other Income: 31
Interest: 5
Depreciation: 129
: 307
Tax %: 36
Net Profit: 197
EPS: 4
Dividend Payout %: 98
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2023

: 917
: 415
Operating Profit: 553
OPM %: 60
Other Income: 51
Interest: 8
Depreciation: 116
: 413
Tax %: 24
Net Profit: 313
EPS: 6
Dividend Payout %: 94
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 988
: 416
Operating Profit: 648
OPM %: 66
Other Income: 76
Interest: 9
Depreciation: 116
: 479
Tax %: 29
Net Profit: 342
EPS: 7
Dividend Payout %: 103
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2025

: 986
: 411
Operating Profit: 659
OPM %: 67
Other Income: 83
Interest: 6
Depreciation: 117
: 552
Tax %: 28
Net Profit: 397
EPS: 8
Dividend Payout %: 100
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

Mar 2026

: 1,158
: 456
Operating Profit: 781
OPM %: 67
Other Income: 80
Interest: 7
Depreciation: 126
: 689
Tax %: 25
Net Profit: 515
EPS: 11
Dividend Payout %: 98
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

TTM

: 1,241
: 497
Operating Profit: —
OPM %: —
Other Income: 67
Interest: 6
Depreciation: 126
: 732
Tax %: 26
Net Profit: 542
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 18
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 18
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 10%
3 Years:: 8%

COMPOUNDED PROFIT GROWTH

10 Years:: 9%
5 Years:: 18%
3 Years:: 18%

STOCK PRICE CAGR

10 Years:: 0%
5 Years:: 10%
3 Years:: 11%
1 Year:: 6%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 15%
3 Years:: 18%
Last Year:: 22%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	483	483	483	483	483	483	483	483	483	483
	1,659	1,676	1,714	1,805	1,756	1,760	1,827	1,830	1,854	1,905
Trade Payables	26	28	33	30	34	44	66	60	49	57
	477	487	602	660	782	1,130	1,288	970	1,398	1,587
Total Liabilities	2,645	2,674	2,832	2,978	3,055	3,418	3,665	3,343	3,785	4,032
ASSETS	-	-	-	-	-	-	-	-	-	-
	1,676	1,686	1,590	1,583	1,467	1,408	1,363	1,358	1,329	1,295
Capital Work in Progress	92	32	45	6	53	47	90	80	83	286
	206	228	259	286	290	294	315	321	338	355
	16	14	8	8	10	10	8	9	10	12
	0	0	0	0	0	0	0	58	48	44
Cash & Bank	352	432	534	650	725	856	895	1,045	1,049	676
	303	282	395	446	509	803	994	473	929	1,364
Total Assets	2,645	2,674	2,832	2,978	3,055	3,418	3,665	3,343	3,785	4,032
Total Debt	0	0	0	0	0	0	0	0	0	0
Net Working Capital	163	270	401	531	575	696	763	758	785	641
Contingent Liabilities	257	199	293	141	144	135	137	96	114	129
Book Value per Share	44.31	44.67	45.45	47.33	46.32	46.41	47.80	47.85	48.35	49.40
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	0	0	0	0	0	0	0	0	0	0
Net Working Capital	163	270	401	531	575	696	763	758	785	641
Contingent Liabilities	257	199	293	141	144	135	137	96	114	129
Book Value per Share	44.31	44.67	45.45	47.33	46.32	46.41	47.80	47.85	48.35	49.40
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2017

Equity Capital: 483
: 1,659
Trade Payables: 26
: 477
Total Liabilities: 2,645
: 1,676
Capital Work in Progress: 92
: 206
: 16
: 0
Cash & Bank: 352
: 303
Total Assets: 2,645
Total Debt: 0
Net Working Capital: 163
Contingent Liabilities: 257
Book Value per Share: 44.31
Face Value: 10.00
Total Debt: 0
Net Working Capital: 163
Contingent Liabilities: 257
Book Value per Share: 44.31
Face Value: 10.00

Mar 2018

Equity Capital: 483
: 1,676
Trade Payables: 28
: 487
Total Liabilities: 2,674
: 1,686
Capital Work in Progress: 32
: 228
: 14
: 0
Cash & Bank: 432
: 282
Total Assets: 2,674
Total Debt: 0
Net Working Capital: 270
Contingent Liabilities: 199
Book Value per Share: 44.67
Face Value: 10.00
Total Debt: 0
Net Working Capital: 270
Contingent Liabilities: 199
Book Value per Share: 44.67
Face Value: 10.00

Mar 2019

Equity Capital: 483
: 1,714
Trade Payables: 33
: 602
Total Liabilities: 2,832
: 1,590
Capital Work in Progress: 45
: 259
: 8
: 0
Cash & Bank: 534
: 395
Total Assets: 2,832
Total Debt: 0
Net Working Capital: 401
Contingent Liabilities: 293
Book Value per Share: 45.45
Face Value: 10.00
Total Debt: 0
Net Working Capital: 401
Contingent Liabilities: 293
Book Value per Share: 45.45
Face Value: 10.00

Mar 2020

Equity Capital: 483
: 1,805
Trade Payables: 30
: 660
Total Liabilities: 2,978
: 1,583
Capital Work in Progress: 6
: 286
: 8
: 0
Cash & Bank: 650
: 446
Total Assets: 2,978
Total Debt: 0
Net Working Capital: 531
Contingent Liabilities: 141
Book Value per Share: 47.33
Face Value: 10.00
Total Debt: 0
Net Working Capital: 531
Contingent Liabilities: 141
Book Value per Share: 47.33
Face Value: 10.00

Mar 2021

Equity Capital: 483
: 1,756
Trade Payables: 34
: 782
Total Liabilities: 3,055
: 1,467
Capital Work in Progress: 53
: 290
: 10
: 0
Cash & Bank: 725
: 509
Total Assets: 3,055
Total Debt: 0
Net Working Capital: 575
Contingent Liabilities: 144
Book Value per Share: 46.32
Face Value: 10.00
Total Debt: 0
Net Working Capital: 575
Contingent Liabilities: 144
Book Value per Share: 46.32
Face Value: 10.00

Mar 2022

Equity Capital: 483
: 1,760
Trade Payables: 44
: 1,130
Total Liabilities: 3,418
: 1,408
Capital Work in Progress: 47
: 294
: 10
: 0
Cash & Bank: 856
: 803
Total Assets: 3,418
Total Debt: 0
Net Working Capital: 696
Contingent Liabilities: 135
Book Value per Share: 46.41
Face Value: 10.00
Total Debt: 0
Net Working Capital: 696
Contingent Liabilities: 135
Book Value per Share: 46.41
Face Value: 10.00

Mar 2023

Equity Capital: 483
: 1,827
Trade Payables: 66
: 1,288
Total Liabilities: 3,665
: 1,363
Capital Work in Progress: 90
: 315
: 8
: 0
Cash & Bank: 895
: 994
Total Assets: 3,665
Total Debt: 0
Net Working Capital: 763
Contingent Liabilities: 137
Book Value per Share: 47.80
Face Value: 10.00
Total Debt: 0
Net Working Capital: 763
Contingent Liabilities: 137
Book Value per Share: 47.80
Face Value: 10.00

Mar 2024

Equity Capital: 483
: 1,830
Trade Payables: 60
: 970
Total Liabilities: 3,343
: 1,358
Capital Work in Progress: 80
: 321
: 9
: 58
Cash & Bank: 1,045
: 473
Total Assets: 3,343
Total Debt: 0
Net Working Capital: 758
Contingent Liabilities: 96
Book Value per Share: 47.85
Face Value: 10.00
Total Debt: 0
Net Working Capital: 758
Contingent Liabilities: 96
Book Value per Share: 47.85
Face Value: 10.00

Mar 2025

Equity Capital: 483
: 1,854
Trade Payables: 49
: 1,398
Total Liabilities: 3,785
: 1,329
Capital Work in Progress: 83
: 338
: 10
: 48
Cash & Bank: 1,049
: 929
Total Assets: 3,785
Total Debt: 0
Net Working Capital: 785
Contingent Liabilities: 114
Book Value per Share: 48.35
Face Value: 10.00
Total Debt: 0
Net Working Capital: 785
Contingent Liabilities: 114
Book Value per Share: 48.35
Face Value: 10.00

Mar 2026

Equity Capital: 483
: 1,905
Trade Payables: 57
: 1,587
Total Liabilities: 4,032
: 1,295
Capital Work in Progress: 286
: 355
: 12
: 44
Cash & Bank: 676
: 1,364
Total Assets: 4,032
Total Debt: 0
Net Working Capital: 641
Contingent Liabilities: 129
Book Value per Share: 49.40
Face Value: 10.00
Total Debt: 0
Net Working Capital: 641
Contingent Liabilities: 129
Book Value per Share: 49.40
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	406	315	299	343	388	380	370	489	449	510
Cash from Investing	-245	-129	-126	-85	-105	-166	-82	-111	-56	-18
Cash from Financing	-227	-204	-198	-250	-296	-220	-273	-370	-404	-495
	-66	-18	-25	8	-13	-6	15	8	-11	-3
Free Cash Flow	266	261	270	279	346	317	282	422	383	244
OCF / Net Profit	1.44	1.42	1.27	1.07	1.75	1.93	1.18	1.43	1.13	0.99
Cumulative 5-Year FCF	0	0	0	0	1,423	1,473	1,494	1,646	1,750	1,648
OCF / Net Profit	1.44	1.42	1.27	1.07	1.75	1.93	1.18	1.43	1.13	0.99
Cumulative 5-Year FCF	0	0	0	0	1,423	1,473	1,494	1,646	1,750	1,648

Mar 2017

: 406
Cash from Investing: -245
Cash from Financing: -227
: -66
Free Cash Flow: 266
OCF / Net Profit: 1.44
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.44
Cumulative 5-Year FCF: 0

Mar 2018

: 315
Cash from Investing: -129
Cash from Financing: -204
: -18
Free Cash Flow: 261
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.42
Cumulative 5-Year FCF: 0

Mar 2019

: 299
Cash from Investing: -126
Cash from Financing: -198
: -25
Free Cash Flow: 270
OCF / Net Profit: 1.27
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.27
Cumulative 5-Year FCF: 0

Mar 2020

: 343
Cash from Investing: -85
Cash from Financing: -250
: 8
Free Cash Flow: 279
OCF / Net Profit: 1.07
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.07
Cumulative 5-Year FCF: 0

Mar 2021

: 388
Cash from Investing: -105
Cash from Financing: -296
: -13
Free Cash Flow: 346
OCF / Net Profit: 1.75
Cumulative 5-Year FCF: 1,423
OCF / Net Profit: 1.75
Cumulative 5-Year FCF: 1,423

Mar 2022

: 380
Cash from Investing: -166
Cash from Financing: -220
: -6
Free Cash Flow: 317
OCF / Net Profit: 1.93
Cumulative 5-Year FCF: 1,473
OCF / Net Profit: 1.93
Cumulative 5-Year FCF: 1,473

Mar 2023

: 370
Cash from Investing: -82
Cash from Financing: -273
: 15
Free Cash Flow: 282
OCF / Net Profit: 1.18
Cumulative 5-Year FCF: 1,494
OCF / Net Profit: 1.18
Cumulative 5-Year FCF: 1,494

Mar 2024

: 489
Cash from Investing: -111
Cash from Financing: -370
: 8
Free Cash Flow: 422
OCF / Net Profit: 1.43
Cumulative 5-Year FCF: 1,646
OCF / Net Profit: 1.43
Cumulative 5-Year FCF: 1,646

Mar 2025

: 449
Cash from Investing: -56
Cash from Financing: -404
: -11
Free Cash Flow: 383
OCF / Net Profit: 1.13
Cumulative 5-Year FCF: 1,750
OCF / Net Profit: 1.13
Cumulative 5-Year FCF: 1,750

Mar 2026

: 510
Cash from Investing: -18
Cash from Financing: -495
: -3
Free Cash Flow: 244
OCF / Net Profit: 0.99
Cumulative 5-Year FCF: 1,648
OCF / Net Profit: 0.99
Cumulative 5-Year FCF: 1,648

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	5.84	4.57	4.90	6.61	4.59	4.08	6.48	7.07	8.21	10.66
Book Value (₹)	44.31	44.67	45.45	47.33	46.32	46.41	47.80	47.85	48.35	49.40
Dividend per Share (₹)	3.80	3.40	3.50	5.60	4.50	4.00	6.10	7.30	8.20	10.40
Cash EPS (₹)	8.04	6.71	7.23	9.33	7.35	6.76	8.88	9.47	10.63	13.26
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	65.90%	63.36%	61.84%	67.13%	63.06%	52.06%	51.42%	48.07%	48.73%	53.36%
Net Margin %	41.32%	34.06%	33.72%	43.44%	30.26%	23.28%	29.11%	28.73%	33.62%	39.16%
ROE %	13.35%	10.28%	10.86%	14.24%	9.80%	8.80%	13.75%	14.79%	17.07%	21.80%
ROCE %	17.96%	15.35%	16.17%	17.53%	14.86%	13.89%	18.50%	21.14%	24.01%	29.46%
	11.04%	8.31%	8.60%	11.00%	7.36%	6.10%	8.84%	9.76%	11.14%	13.18%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	15	15	20	24	23	22	23	22	16	13
Inventory Days	8	8	6	4	5	4	3	3	3	3
Payable Days	0	0	0	0	0	0	0	0	0	0
	24	23	26	28	28	26	26	25	19	16
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	942.32x	948.58x	965.28x	53.29x	53.32x	65.33x	52.95x	52.45x	95.10x	101.40x
	1.52x	2.24x	2.35x	3.15x	3.07x	2.72x	2.36x	3.04x	3.20x	2.11x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	3.51%	-5.01%	8.18%	4.76%	-0.26%	1.08%	23.68%	7.80%	-0.24%	17.48%
Operating Profit Growth %	10.76%	-8.67%	5.59%	13.72%	-6.31%	-4.62%	25.39%	17.14%	1.65%	18.65%
Net Profit Growth %	24.06%	-21.69%	7.09%	34.97%	-30.52%	-11.09%	58.69%	9.22%	16.05%	29.80%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	9.22%	16.05%	29.80%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	30.05x	16.82x	13.37x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.44x	2.86x	2.88x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.43%	5.94%	7.30%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	14.25x	8.54x	7.95x

Mar 2017

EPS (₹): 5.84
Book Value (₹): 44.31
Dividend per Share (₹): 3.80
Cash EPS (₹): 8.04
Operating Margin %: 65.90%
Net Margin %: 41.32%
ROE %: 13.35%
ROCE %: 17.96%
: 11.04%
Debtor Days: 15
Inventory Days: 8
Payable Days: 0
: 24
Debt to Equity (x): 0.00x
Interest Coverage (x): 942.32x
: 1.52x
Revenue Growth %: 3.51%
Operating Profit Growth %: 10.76%
Net Profit Growth %: 24.06%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 4.57
Book Value (₹): 44.67
Dividend per Share (₹): 3.40
Cash EPS (₹): 6.71
Operating Margin %: 63.36%
Net Margin %: 34.06%
ROE %: 10.28%
ROCE %: 15.35%
: 8.31%
Debtor Days: 15
Inventory Days: 8
Payable Days: 0
: 23
Debt to Equity (x): 0.00x
Interest Coverage (x): 948.58x
: 2.24x
Revenue Growth %: -5.01%
Operating Profit Growth %: -8.67%
Net Profit Growth %: -21.69%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 4.90
Book Value (₹): 45.45
Dividend per Share (₹): 3.50
Cash EPS (₹): 7.23
Operating Margin %: 61.84%
Net Margin %: 33.72%
ROE %: 10.86%
ROCE %: 16.17%
: 8.60%
Debtor Days: 20
Inventory Days: 6
Payable Days: 0
: 26
Debt to Equity (x): 0.00x
Interest Coverage (x): 965.28x
: 2.35x
Revenue Growth %: 8.18%
Operating Profit Growth %: 5.59%
Net Profit Growth %: 7.09%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 6.61
Book Value (₹): 47.33
Dividend per Share (₹): 5.60
Cash EPS (₹): 9.33
Operating Margin %: 67.13%
Net Margin %: 43.44%
ROE %: 14.24%
ROCE %: 17.53%
: 11.00%
Debtor Days: 24
Inventory Days: 4
Payable Days: 0
: 28
Debt to Equity (x): 0.00x
Interest Coverage (x): 53.29x
: 3.15x
Revenue Growth %: 4.76%
Operating Profit Growth %: 13.72%
Net Profit Growth %: 34.97%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 4.59
Book Value (₹): 46.32
Dividend per Share (₹): 4.50
Cash EPS (₹): 7.35
Operating Margin %: 63.06%
Net Margin %: 30.26%
ROE %: 9.80%
ROCE %: 14.86%
: 7.36%
Debtor Days: 23
Inventory Days: 5
Payable Days: 0
: 28
Debt to Equity (x): 0.00x
Interest Coverage (x): 53.32x
: 3.07x
Revenue Growth %: -0.26%
Operating Profit Growth %: -6.31%
Net Profit Growth %: -30.52%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 4.08
Book Value (₹): 46.41
Dividend per Share (₹): 4.00
Cash EPS (₹): 6.76
Operating Margin %: 52.06%
Net Margin %: 23.28%
ROE %: 8.80%
ROCE %: 13.89%
: 6.10%
Debtor Days: 22
Inventory Days: 4
Payable Days: 0
: 26
Debt to Equity (x): 0.00x
Interest Coverage (x): 65.33x
: 2.72x
Revenue Growth %: 1.08%
Operating Profit Growth %: -4.62%
Net Profit Growth %: -11.09%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 6.48
Book Value (₹): 47.80
Dividend per Share (₹): 6.10
Cash EPS (₹): 8.88
Operating Margin %: 51.42%
Net Margin %: 29.11%
ROE %: 13.75%
ROCE %: 18.50%
: 8.84%
Debtor Days: 23
Inventory Days: 3
Payable Days: 0
: 26
Debt to Equity (x): 0.00x
Interest Coverage (x): 52.95x
: 2.36x
Revenue Growth %: 23.68%
Operating Profit Growth %: 25.39%
Net Profit Growth %: 58.69%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 7.07
Book Value (₹): 47.85
Dividend per Share (₹): 7.30
Cash EPS (₹): 9.47
Operating Margin %: 48.07%
Net Margin %: 28.73%
ROE %: 14.79%
ROCE %: 21.14%
: 9.76%
Debtor Days: 22
Inventory Days: 3
Payable Days: 0
: 25
Debt to Equity (x): 0.00x
Interest Coverage (x): 52.45x
: 3.04x
Revenue Growth %: 7.80%
Operating Profit Growth %: 17.14%
Net Profit Growth %: 9.22%
: 9.22%
P/E (x): 30.05x
P/B (x): 4.44x
Dividend Yield %: 3.43%
: 14.25x

Mar 2025

EPS (₹): 8.21
Book Value (₹): 48.35
Dividend per Share (₹): 8.20
Cash EPS (₹): 10.63
Operating Margin %: 48.73%
Net Margin %: 33.62%
ROE %: 17.07%
ROCE %: 24.01%
: 11.14%
Debtor Days: 16
Inventory Days: 3
Payable Days: 0
: 19
Debt to Equity (x): 0.00x
Interest Coverage (x): 95.10x
: 3.20x
Revenue Growth %: -0.24%
Operating Profit Growth %: 1.65%
Net Profit Growth %: 16.05%
: 16.05%
P/E (x): 16.82x
P/B (x): 2.86x
Dividend Yield %: 5.94%
: 8.54x

Mar 2026

EPS (₹): 10.66
Book Value (₹): 49.40
Dividend per Share (₹): 10.40
Cash EPS (₹): 13.26
Operating Margin %: 53.36%
Net Margin %: 39.16%
ROE %: 21.80%
ROCE %: 29.46%
: 13.18%
Debtor Days: 13
Inventory Days: 3
Payable Days: 0
: 16
Debt to Equity (x): 0.00x
Interest Coverage (x): 101.40x
: 2.11x
Revenue Growth %: 17.48%
Operating Profit Growth %: 18.65%
Net Profit Growth %: 29.80%
: 29.80%
P/E (x): 13.37x
P/B (x): 2.88x
Dividend Yield %: 7.30%
: 7.95x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.01	44.01	44.01	44.01	44.01	44.01	44.01	44.01	44.01
	18.53	19.81	20.49	19.45	19.48	19.82	21.04	22.14	22.05
	17.04	16.42	16.74	17.09	16.24	15.72	14.92	14.95	13.81
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	20.41	19.77	18.75	19.46	20.28	20.45	20.02	18.91	20.14

Jun 2024

: 44.01
: 18.53
: 17.04
Government: 0.00
: 20.41

Sep 2024

: 44.01
: 19.81
: 16.42
Government: 0.00
: 19.77

Dec 2024

: 44.01
: 20.49
: 16.74
Government: 0.00
: 18.75

Mar 2025

: 44.01
: 19.45
: 17.09
Government: 0.00
: 19.46

Jun 2025

: 44.01
: 19.48
: 16.24
Government: 0.00
: 20.28

Sep 2025

: 44.01
: 19.82
: 15.72
Government: 0.00
: 20.45

Dec 2025

: 44.01
: 21.04
: 14.92
Government: 0.00
: 20.02

Mar 2026

: 44.01
: 22.14
: 14.95
Government: 0.00
: 18.91

Jun 2026

: 44.01
: 22.05
: 13.81
Government: 0.00
: 20.14

Documents

Announcements

Shareholders meeting
2026-08-17 - Gujarat Pipavav Port Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 09, 2026
Investor Presentation
2026-08-12 - Gujarat Pipavav Port Limited has informed the Exchange about Investor Presentation

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Aug 2026
TranscriptPPTREC
May 2026
TranscriptPPTREC
Feb 2026
TranscriptPPTREC