Fundamental Analysis of Gujarat Pipavav Port Ltd

About the Company - Gujarat Pipavav Port Ltd

Gujarat Pipavav Port Ltd. is a Public Limited Listed company incorporated on 05/08/1992 and has its registered office in the State of Gujarat, India. Company’s Corporate Identification Number(CIN) is L63010GJ1992PLC018106 and registration number is 018106. Currently Company is involved in the business activities of Cargo handling incidental to water transport. Company’s Total Operating Revenue is Rs. 743.54 Cr. and Equity Capital is Rs. 483.44 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Port & Port Services	Pipavav Port, Amreli Dist. Gujarat 365560	investorrelationinppv@apmterminals.com http://www.pipavav.com

Management
Name	Position Held
Mr. Tejpreet Singh Chopra	Chairman
Mr. Girish Aggarwal	Managing Director
Ms. Monica Widhani	Director
Mr. Samir Chaturvedi	Director
Mr. Soren Brandt	Director
Mr. Timothy Smith	Director
Mr. Matangi Gowrishankar	Director
Ms. Hina Shah	Director
Mr. Jonathan Richard Goldner	Director
Mr. Julian Bevis	Director
Mr. Keld Pedersen	Director
Mr. Maarten Degryse	Director
Mr. Ranjitsinh Barad	Nominee Director

Basic Stock Data of Gujarat Pipavav Port Ltd

Last Updated: July 6, 2024, 12:05 pm

Market Cap	10,837 Cr.
Current Price	224
High / Low	238/116
Stock P/E	27.7
Book Value	43.3
Dividend Yield	3.26 %
ROCE	24.8 %
ROE	18.8 %
Face Value	10.0
PEG Ratio	5.90

Gujarat Pipavav Port Ltd Quarterly Results

Month	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Sales	198	193	160	195	169	220	207	227	249	235	215	253	270
Expenses	88	78	72	86	82	92	95	106	109	105	109	102	110
Operating Profit	110	116	88	109	87	128	112	121	140	130	106	151	159
OPM %	55%	60%	55%	56%	51%	58%	54%	53%	56%	55%	49%	60%	59%
Other Income	8	9	-4	-2	17	13	-2	5	-1	11	14	25	19
Interest	1	2	1	1	1	1	2	2	2	2	3	2	2
Depreciation	33	33	33	33	32	31	30	29	30	28	29	29	29
Profit before tax	84	90	50	73	71	109	77	95	108	111	89	145	147
Tax %	35%	28%	35%	37%	38%	34%	26%	26%	26%	25%	26%	26%	25%
Net Profit	54	65	32	46	44	72	58	71	79	84	66	108	110
EPS in Rs	1.12	1.35	0.67	0.94	0.91	1.48	1.19	1.47	1.64	1.74	1.36	2.23	2.28

Last Updated: June 7, 2024, 8:51 am

Gujarat Pipavav Port Ltd Quarterly Chart

Gujarat Pipavav Port Ltd Profit & Loss

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Sales	396	416	518	867	660	683	649	702	735	733	741	917	972
Expenses	213	234	261	365	278	262	275	313	289	311	331	414	426
Operating Profit	182	182	257	502	382	421	374	389	447	422	411	503	546
OPM %	46%	44%	50%	58%	58%	62%	58%	55%	61%	58%	55%	55%	56%
Other Income	16	15	33	-5	24	33	37	45	51	44	26	13	69
Interest	85	68	37	26	0	0	0	0	7	6	5	8	9
Depreciation	56	55	61	83	97	107	104	113	131	133	129	116	114
Profit before tax	57	74	192	387	309	347	307	321	359	327	302	392	492
Tax %	0%	0%	0%	0%	38%	28%	35%	36%	18%	33%	36%	26%
Net Profit	57	74	192	387	191	250	198	206	292	218	193	292	368
EPS in Rs	1.35	1.53	3.97	8.01	3.95	5.17	4.11	4.25	6.05	4.52	4.00	6.04	7.61
Dividend Payout %	0%	0%	0%	0%	48%	74%	83%	82%	93%	100%	100%	101%

Gujarat Pipavav Port Ltd Profit & Loss Yearly Chart

Gujarat Pipavav Port Ltd Growth

Compounded Sales Growth
10 Years:	8%
5 Years:	7%
3 Years:	8%
TTM:	8%

Compounded Profit Growth
10 Years:	16%
5 Years:	10%
3 Years:	3%
TTM:	24%

Stock Price CAGR
10 Years:	9%
5 Years:	17%
3 Years:	29%
1 Year:	91%

Return on Equity
10 Years:	13%
5 Years:	12%
3 Years:	12%
Last Year:	16%

Last Updated: April 17, 2024, 1:33 am

Gujarat Pipavav Port Ltd Balance Sheet

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	424	483	483	483	483	483	483	483	483	483	483	483	483
Reserves	369	728	920	1,307	1,513	1,536	1,531	1,538	1,601	1,549	1,549	1,595	1,604
Borrowings	676	321	304	0	0	0	0	0	58	47	47	79	88
Other Liabilities	115	131	159	200	282	331	296	348	282	363	442	479	519
Total Liabilities	1,584	1,663	1,867	1,991	2,279	2,351	2,310	2,369	2,426	2,442	2,522	2,637	2,694
Fixed Assets	1,270	1,246	1,358	1,339	1,342	1,676	1,686	1,590	1,583	1,467	1,408	1,363	1,389
CWIP	9	158	106	65	392	92	32	45	6	53	49	95	58
Investments	83	83	83	83	83	83	83	83	83	83	83	83	83
Other Assets	222	177	320	503	462	499	509	651	754	839	982	1,096	1,164
Total Assets	1,584	1,663	1,867	1,991	2,279	2,351	2,310	2,369	2,426	2,442	2,522	2,637	2,694

Gujarat Pipavav Port Ltd Reserves and Borrowings Chart

Gujarat Pipavav Port Ltd Cash Flow

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Cash from Operating Activity	61	262	290	444	389	402	315	296	340	384	380	370
Cash from Investing Activity	-1	-163	-176	-207	-285	-241	-129	-122	-81	-101	-166	-82
Cash from Financing Activity	-214	-89	-54	-332	-0	-227	-204	-198	-250	-296	-220	-273
Net Cash Flow	-154	11	60	-95	104	-66	-18	-25	8	-13	-6	15

Gujarat Pipavav Port Ltd Financial Efficiency Indicators

Month	Dec 2011	Dec 2012	Dec 2013	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	30	34	24	15	16	15	14	26	23	24	26	34
Inventory Days
Days Payable
Cash Conversion Cycle	30	34	24	15	16	15	14	26	23	24	26	34
Working Capital Days	-15	-43	-60	-31	-93	-101	-91	-69	-49	-64	-73	-45
ROCE %	10%	10%	13%	26%	17%	17%	15%	16%	18%	16%	15%	21%

Gujarat Pipavav Port Ltd Financial Efficiency Indicators Chart

Gujarat Pipavav Port Ltd Share Holding Pattern

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoters	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%	44.01%
FIIs	22.03%	22.04%	22.29%	22.78%	21.48%	21.87%	22.36%	21.90%	21.02%	20.12%	19.81%	18.31%
DIIs	22.33%	21.52%	21.37%	21.34%	20.50%	22.11%	21.54%	22.13%	22.66%	21.23%	20.01%	17.38%
Public	11.63%	12.43%	12.33%	11.87%	14.02%	12.00%	12.10%	11.98%	12.32%	14.65%	16.19%	20.31%
No. of Shareholders	96,196	1,07,711	1,13,754	1,20,405	1,34,969	1,42,931	1,46,078	1,39,831	1,40,258	1,61,167	1,69,217	2,15,960

Gujarat Pipavav Port Ltd Shareholding Pattern Chart

No. of Gujarat Pipavav Port Ltd Shareholders

Gujarat Pipavav Port Ltd Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
HDFC Balanced Advantage Fund - Regular Plan	27,360,019	0.52	333.38	9,250,000	2024-07-05	195.78%
HDFC Small Cap Fund - Regular Plan	9,250,000	0.49	112.71	9,250,000	2024-07-05	0%
ICICI Prudential Multi Asset Fund	4,126,285	0.2	50.28	9,250,000	2024-07-05	-55.39%
ICICI Prudential Infrastructure Fund	3,779,877	1.38	46.06	9,250,000	2024-07-05	-59.14%
ICICI Prudential Bluechip Fund	3,090,876	0.09	37.66	9,250,000	2024-07-05	-66.59%
HDFC Capital Builder Value Fund - Regular Plan	2,708,420	0.59	33	9,250,000	2024-07-05	-70.72%
ICICI Prudential ELSS Tax Saver Fund	2,623,049	0.29	31.96	9,250,000	2024-07-05	-71.64%
ICICI Prudential Value Discovery Fund	2,135,611	0.08	26.02	9,250,000	2024-07-05	-76.91%
ICICI Prudential Smallcap Fund	2,100,215	0.43	25.59	9,250,000	2024-07-05	-77.29%
HDFC Equity Savings Fund - Regular Plan	2,014,846	0.78	24.55	9,250,000	2024-07-05	-78.22%

Gujarat Pipavav Port Ltd ROCE Trend

Gujarat Pipavav Port Ltd EPS Trend

Gujarat Pipavav Port Ltd Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	7.07	6.48	4.08	4.59	6.61
Diluted EPS (Rs.)	7.07	6.48	4.08	4.59	6.61
Cash EPS (Rs.)	9.27	8.44	6.67	7.20	8.69
Book Value[Excl.RevalReserv]/Share (Rs.)	47.85	47.80	46.41	46.32	47.33
Book Value[Incl.RevalReserv]/Share (Rs.)	47.85	47.80	46.41	46.32	47.33
Revenue From Operations / Share (Rs.)	20.45	18.97	15.38	15.17	15.21
PBDIT / Share (Rs.)	13.40	11.44	9.13	9.57	10.21
PBIT / Share (Rs.)	11.01	9.04	6.45	6.81	7.49
PBT / Share (Rs.)	9.72	8.11	6.26	6.68	7.34
Net Profit / Share (Rs.)	6.88	6.04	4.00	4.44	5.97
NP After MI And SOA / Share (Rs.)	7.07	6.48	4.08	4.59	6.61
PBDIT Margin (%)	65.55	60.32	59.33	63.05	67.13
PBIT Margin (%)	53.85	47.65	41.94	44.86	49.25
PBT Margin (%)	47.55	42.73	40.68	44.00	48.25
Net Profit Margin (%)	33.64	31.82	25.98	29.25	39.24
NP After MI And SOA Margin (%)	34.60	34.15	26.53	30.26	43.43
Return on Networth / Equity (%)	14.78	13.55	8.79	9.91	13.96
Return on Capital Employeed (%)	20.75	16.93	12.57	13.55	14.82
Return On Assets (%)	11.64	10.91	7.22	8.37	12.15
Asset Turnover Ratio (%)	0.34	0.34	0.28	0.28	0.29
Current Ratio (X)	3.04	3.64	3.71	3.59	3.86
Quick Ratio (X)	3.02	3.61	3.67	3.55	3.82
Dividend Payout Ratio (NP) (%)	0.00	78.73	97.99	121.97	59.02
Dividend Payout Ratio (CP) (%)	0.00	57.43	59.20	76.17	41.81
Earning Retention Ratio (%)	0.00	21.27	2.01	-21.97	40.98
Cash Earning Retention Ratio (%)	0.00	42.57	40.80	23.83	58.19
Interest Coverage Ratio (X)	69.52	69.53	92.56	73.30	66.93
Interest Coverage Ratio (Post Tax) (X)	42.37	42.35	42.51	35.01	40.13
Enterprise Value (Cr.)	9230.95	4732.45	2844.95	3968.83	2270.47
EV / Net Operating Revenue (X)	9.34	5.16	3.83	5.41	3.09
EV / EBITDA (X)	14.25	8.56	6.45	8.58	4.60
MarketCap / Net Operating Revenue (X)	10.40	6.14	4.98	6.40	3.97
Retention Ratios (%)	0.00	21.26	2.00	-21.97	40.97
Price / BV (X)	4.44	2.44	1.65	2.10	1.28
Price / Net Operating Revenue (X)	10.40	6.14	4.98	6.40	3.97
EarningsYield	0.03	0.05	0.05	0.04	0.10

Gujarat Pipavav Port Ltd Profitability Ratios (%)

Gujarat Pipavav Port Ltd Liquidity Ratios

Gujarat Pipavav Port Ltd Liquidity Ratios (%)

Gujarat Pipavav Port Ltd Interest Coverage Ratios (%)

Gujarat Pipavav Port Ltd Valuation Ratios

Fair Value

Fair Value: 232.84

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 3.95% compared to the current price 224

Intrinsic Value: 243.77

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 8.83% compared to the current price ₹224

Last 5 Year EPS CAGR: 4.69%

*Investments are subject to market risks

Strength and Weakness of Gujarat Pipavav Port Ltd Stock

Strength	Weakness
The stock has a high average ROCE of 16.17%, which is a positive sign. The stock has a low average Working Capital Days of -61.17, which is a positive sign. The company has higher reserves (1,333.85 cr) compared to borrowings (124.62 cr), indicating strong financial stability. The company has shown consistent growth in sales (691.46 cr) and profit (297.38 cr) over the years.	The stock has a high average Cash Conversion Cycle of 23.42, which may not be favorable.

FAQ

What is the latest fair value of Gujarat Pipavav Port Ltd?

The latest fair value of Gujarat Pipavav Port Ltd is ₹232.84.

What is the Market Cap of Gujarat Pipavav Port Ltd?

The Market Cap of Gujarat Pipavav Port Ltd is 10,837 Cr..

What is the current Stock Price of Gujarat Pipavav Port Ltd as on 06 July 2024?

The current stock price of Gujarat Pipavav Port Ltd as on 06 July 2024 is 224.

What is the High / Low of Gujarat Pipavav Port Ltd stocks in FY 2024?

In FY 2024, the High / Low of Gujarat Pipavav Port Ltd stocks is 238/116.

What is the Stock P/E of Gujarat Pipavav Port Ltd?

The Stock P/E of Gujarat Pipavav Port Ltd is 27.7.

What is the Book Value of Gujarat Pipavav Port Ltd?

The Book Value of Gujarat Pipavav Port Ltd is 43.3.

What is the Dividend Yield of Gujarat Pipavav Port Ltd?

The Dividend Yield of Gujarat Pipavav Port Ltd is 3.26 %.

What is the ROCE of Gujarat Pipavav Port Ltd?

The ROCE of Gujarat Pipavav Port Ltd is 24.8 %.

What is the ROE of Gujarat Pipavav Port Ltd?

The ROE of Gujarat Pipavav Port Ltd is 18.8 %.

What is the Face Value of Gujarat Pipavav Port Ltd?

The Face Value of Gujarat Pipavav Port Ltd is 10.0.