Gujarat Industries Power Co. Ltd. (GIPCL) AI Stock Analysis

• Market Cap: ₹22.37B
• Dividend Yield: 2.6%
• Average Volume (3M): 24.41K
• Price to Earnings (P/E): 11.9
• Beta (1Y): 1.76
• Revenue Growth: 2.34%
• EPS Growth: -14.58%
• Country: IN
• Employees: 416
• Sector: Utilities
• Sector Strength: 65
• Industry: Regulated Electric
• EPS (TTM): 1.37
• Shares Outstanding: 155,215,940
• 10 Day Avg. Volume: 18,420
• 30 Day Avg. Volume: 24,412
• PEG Ratio: 2.00
• Price to Book (P/B): 0.78
• Price to Sales (P/S): 2.19
• P/FCF Ratio: -1.74
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 59 Neutral
• Price Target: ₹151.00 ▼(-7.11% Downside)

The overall stock score of 59 reflects a balance of stable financial performance and fair valuation, offset by bearish technical indicators. The company's strong balance sheet and profitability are positive, but the current market momentum suggests caution.

Positive Factors

Diversified generation mix (coal and solar)

A diversified generation portfolio across thermal and solar reduces exposure to single-fuel risk and aligns with longer-term decarbonization trends. Combined with PPAs and regulatory support for renewables, this mix supports more stable long-term cash flows and regulatory resilience.

Strong balance sheet and equity base

A healthy equity ratio and reasonable leverage provide financial flexibility to absorb shocks, fund mandated environmental upgrades, and pursue strategic investments. This foundation lowers refinancing risk and supports creditworthiness over multi-quarter horizons.

Robust operating cash flow and cash conversion

Strong operating cash generation indicates efficient cash conversion from core power sales and underpins the company's ability to service debt and fund operations. Sustained OCF strength is a durable contributor to liquidity even when free cash flow is impacted by investment cycles.

Negative Factors

Rising total debt in latest period

An increase in total debt raises leverage and interest burden risk, reducing financial flexibility for capex or dividend policy. If sustained alongside demand or revenue pressures, higher debt can constrain investment capacity and elevate refinancing and credit risks over several quarters.

High capital expenditures have turned FCF negative

Negative free cash flow driven by elevated capex limits internal funding for growth or payouts and may necessitate external financing. Over a multi-quarter horizon this can increase leverage, raise financing costs, and force trade-offs between maintenance, expansion, and shareholder returns.

Revenue volatility and EPS contraction

Fluctuating revenue and a meaningful EPS decline indicate demand or margin pressure that can erode sustainable profitability. Persistent top-line volatility complicates planning for fixed-cost recovery in generation assets and can impair long-term margin stability if not addressed.

Gujarat Industries Power Co. Ltd. Business Overview & Revenue Model

Company Description

Gujarat Industries Power Company Limited generates and sells electricity primarily to power purchasing companies in India. The company generates power through gas, lignite, wind, and solar power plants with combined installed capacity of 1184.4 MW at Vadodara plant and Surat Lignite Power Plant. Gujarat Industries Power Company Limited was incorporated in 1985 and is based in Vadodara, India.

How the Company Makes Money

GIPCL generates revenue primarily through the sale of electricity produced at its power plants. The company operates several coal-based thermal power stations and solar power projects, which provide a diversified energy portfolio. Revenue streams include long-term power purchase agreements (PPAs) with state utilities and private players, which ensure a steady income from electricity sales. Additionally, GIPCL may benefit from incentives related to renewable energy generation and carbon credits. Partnerships with various governmental and private entities for power supply further enhance its revenue potential. The company's strategic emphasis on efficiency and expansion into new energy sectors also plays a critical role in its overall earnings.

Gujarat Industries Power Co. Ltd. Financial Statement Overview

Summary

Gujarat Industries Power Co. Ltd. exhibits stable profitability and a strong balance sheet, although revenue fluctuations and increased debt levels are areas to watch. While operational cash flow is robust, high capital expenditures have pressured free cash flow.

Income Statement

The company shows a stable gross profit margin with consistent net profit margins over the years. However, revenue has fluctuated, with a decline in the most recent period. EBIT and EBITDA margins have shown resilience, indicating operational efficiency.

Balance Sheet

The balance sheet is strong, with a reasonable debt-to-equity ratio and a solid equity base. The equity ratio is healthy, reflecting a robust financial position. However, the rise in total debt in the latest period requires monitoring.

Cash Flow

Operating cash flow has shown significant growth, but free cash flow has turned negative due to high capital expenditures. The operating cash flow to net income ratio is favorable, indicating good cash conversion.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	13.08B	12.56B	13.49B	13.56B	11.67B	13.33B
Gross Profit	5.60B	5.65B	2.57B	5.45B	5.36B	5.60B
EBITDA	4.70B	4.75B	4.57B	4.55B	4.26B	4.54B
Net Income	2.01B	2.11B	1.99B	1.89B	1.71B	1.80B
Balance Sheet
Total Assets	0.00	75.66B	52.18B	44.87B	44.03B	41.29B
Cash, Cash Equivalents and Short-Term Investments	4.69B	4.94B	6.09B	4.54B	2.82B	2.85B
Total Debt	0.00	20.27B	6.14B	4.93B	5.29B	4.80B
Total Liabilities	-35.24B	40.42B	19.13B	13.33B	13.59B	12.74B
Stockholders Equity	35.24B	35.24B	33.06B	31.54B	30.44B	28.55B
Cash Flow
Free Cash Flow	0.00	-15.80B	982.01M	2.83B	186.99M	-466.81M
Operating Cash Flow	0.00	11.27B	5.62B	4.10B	3.62B	1.93B
Investing Cash Flow	0.00	-26.65B	-2.17B	-1.28B	-3.40B	-2.31B
Financing Cash Flow	0.00	13.97B	-1.90B	-1.10B	-245.30M	-473.63M

Gujarat Industries Power Co. Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 162.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GIPCL, the sentiment is Negative. The current price of 162.55 is above the 20-day moving average (MA) of 153.38, above the 50-day MA of 159.09, and below the 200-day MA of 181.97, indicating a bearish trend. The MACD of -2.93 indicates Positive momentum. The RSI at 34.90 is Neutral, neither overbought nor oversold. The STOCH value of 6.06 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:GIPCL.

Gujarat Industries Power Co. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TORNTPOWER	75 Outperform	₹677.60B	22.54	―	1.48%	-1.26%	27.83%
Sector *	66 Neutral	$17.65B	18.10	5.60%	3.62%	6.62%	11.55%
TATAPOWER	65 Neutral	₹1.17T	28.97	―	0.59%	4.06%	8.22%
GIPCL	59 Neutral	₹22.37B	11.86	―	2.60%	2.34%	-14.58%
BFUTILITIE	57 Neutral	₹22.21B	15.01	―	―	-5.83%	-4.00%
RELINFRA	57 Neutral	₹60.74B	1.96	―	―	-10.55%	-5.08%
DPSCLTD	49 Neutral	₹9.33B	122.66	―	0.50%	4.29%	-57.25%

Gujarat Industries Power Co. Ltd. Corporate Events

GIPCL Announces Resignation of Nominee Director Avantika Singh Aulakh

Gujarat Industries Power Company Limited announced that Avantika Singh Aulakh, IAS, has resigned from its Board of Directors with effect from 29 December 2025, where she served as a nominee director of Gujarat Alkalies & Chemicals Limited. Her cessation as director, disclosed in compliance with SEBI’s listing regulations, signals a change in the company’s board composition and may precede the nomination of a new representative from Gujarat Alkalies & Chemicals, potentially affecting how the interests of that strategic stakeholder are represented at GIPCL’s board level.