Gujarat Pipavav Port Ltd - Stock Valuation and Financial Performance

BSE: 533248 | NSE: GPPL | Port | Small Cap

Gujarat Pipavav Port Share Price

133.45 -0.45 -0.34%
as on 25-Feb'25 16:59

DeciZen - make an informed investing decision on Gujarat Pipavav Port

Overall Rating
Bole Toh

1. Quality

2. Valuation

Fair

3. Price Trend

Gujarat Pipavav Port stock performance -

P/E Ratio (SA):
17.92
Market Cap:
6,451.5 Cr.
52-wk low:
127.6
52-wk high:
250.5

Is Gujarat Pipavav Port Ltd an attractive stock to invest in?

1. Is Gujarat Pipavav Port Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gujarat Pipavav Port Ltd is a good quality company.

2. Is Gujarat Pipavav Port Ltd undervalued or overvalued?

The key valuation ratios of Gujarat Pipavav Port Ltd's currently when compared to its past seem to suggest it is in the Fair zone.

3. Is Gujarat Pipavav Port Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Gujarat Pipavav Port Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Gujarat Pipavav Port:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gujarat Pipavav Port Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 23.6%16.3%17.3%15.3%15.9%17.8%16.2%15.1%19.5%23.2%-
Value Creation
Index
0.70.20.30.10.10.30.20.10.40.7-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 694660683649702735733741917988987
Sales YoY Gr.--4.9%3.5%-5%8.2%4.8%-0.3%1.1%23.7%7.8%-
Adj EPS 74.15.34.24.36.14.64.16.68.17.5
YoY Gr.--41.9%29.6%-21%3.4%42%-24.6%-10.5%61.3%22.8%-
BVPS (₹) 29.641.341.841.741.843.142424343.345.6
Adj Net
Profit
337196254200207294222199320394360
Cash Flow from Ops. 355389402315296340384380370485-
Debt/CF from Ops. 0000000000-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 4%7.1%10.5%7.8%
Adj EPS 1.7%13.7%21%22.8%
BVPS4.3%0.7%1%0.7%
Share Price -4.7% 11.8% 17.5% -34.5%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
26.410.312.69.910.314.310.89.815.618.916.8
Op. Profit
Mgn %
58.257.962.158.155.761.158.355.855.258.358.6
Net Profit
Mgn %
48.629.637.130.929.54030.226.834.939.836.5
Debt to
Equity
0000000000-
Working Cap
Days
103172156173182213242287307321218
Cash Conv.
Cycle
-1342-5-3-10-7-15-22143

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 16.80%

Sales growth is growing at healthy rate in last 3 years 10.46%

Net Profit is growing at healthy rate in last 3 years 21.04%

Sales growth is not so good in last 4 quarters at 2.22%

Latest Financials - Gujarat Pipavav Port Ltd.

Standalone Consolidated
TTM EPS (₹) 7.5 7.3
TTM Sales (₹ Cr.) 987 987
BVPS (₹.) 45.6 49.9
Reserves (₹ Cr.) 1,720 1,929
P/BV 2.93 2.67
PE 17.92 18.41
From the Market
52 Week Low / High (₹) 127.55 / 250.50
All Time Low / High (₹) 41.00 / 262.00
Market Cap (₹ Cr.) 6,452
Equity (₹ Cr.) 483.4
Face Value (₹) 10
Industry PE 93.1

Quarterly Results

 Mar'24 YoY Gr. Rt. %Jun'24 YoY Gr. Rt. %Sep'24 YoY Gr. Rt. %Dec'24 YoY Gr. Rt. %
Sales (₹ Cr.) 251 7.1246 14.5227 -10.1263 -2.5
Adj EPS (₹) 2.2 21.62.2 51.11.9 -13.31.9 -14.9
Op. Profit Mgn % 62.59 723 bps60.79 1154 bps58.39 -125 bps52.78 -630 bps
Net Profit Mgn % 42.28 499 bps42.54 1036 bps40.30 -134 bps35.75 -518 bps

Management X-Ray of Gujarat Pipavav Port:

Shareholding Pattern

JavaScript chart by amCharts 3.21.5
JavaScript chart by amCharts 3.21.5Promoters:44.01%Institutions:37.24%Non-Institutions:18.75%

Promoter's Holding & Share Pledging

JavaScript chart by amCharts 3.21.5Sep22Dec22Mar23Jun23Sep23Dec23Mar24Jun24Sep24Dec240%10%20%30%40%50%
Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Valuation of Gujarat Pipavav Port

MRP
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MOS
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DP
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Base EPS
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DPS
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MRP: ₹ 0
DP: ₹0
Base EPS ₹:
DPS ₹:
MOS (%):
Expected EPS Growth Rate:
0%
Base 0%
50%
Expected Rate of Return:
0%
Base 0%
50%
Future PE:
0
Base 0
200
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max
YTD 1Y 3Y 5Y 10Y Max

Event Update

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Analyst's Notes

Gujarat Pipavav Port: Q3FY25 Result Update - 14 Feb 2025

Quarterly result were impacted by volume decline and onetime costs. Outlook remains stable. 

  • Volumes were adversely impacted by Red Sea crisis as well as change in network of Maersk.
  • Company has taken a price hike in Jan’25 of 5% across segments. Full impact of the same will be seen in upcoming quarters. 
  • Management commented about decline in market share from 4.5% to 4% but remains optimistic about liquid and RoRo (cars) volumes doubling in few years. Liquid cargo supported by Kandla-Gorakhpur LPG pipeline and RoRo volumes growth expected on back of rising exports. 

Gujarat Pipavav Ports Annual Report for 2023: Key takeaways - 29 Sep 2023

Analyzing GPPL’s annual report we have compiled a report, with an overview of business operations, expansion plans laid out by the management and financial performance as well as our observations.

GPPL is India's first private sector port, operating an all-weather port located on the Southwest coast of Gujarat. The port lies on a strategic international maritime trade route connecting India to various geographies. APM Terminals is the Lead Promoter and holds 44% of the company. It is a unit of Danish shipping company Maersk's transport and logistics division. Parent company operates a network of 65 terminals globally. It is uniquely positioned to help both shipping line and landside customers grow their business and achieve better supply chain efficiency, flexibility and dependability.

GPPL’s current concession agreement (to operate port) with port authorities is valid upto Sept’2028. The Company continues to be engaged with the stakeholders for extending this.

Business performance robust on all fronts

The company's strong performance (revenues grew 24% YoY) can be attributed to several key factors, such as introducing a new container service, efficiently evacuating LPG by rail, initiating coastal movement of liquid cargo, and gaining a new RoRo (Roll on/Roll off*) customer.

  • Container volume increased by 21% YoY, reaching 764,034 TEUs (Twenty-Foot Equivalent Units) compared to the previous year's 627,747 TEUs. This growth can be attributed to improved shipping line schedules and the introduction of a new service. The easing of COVID-19 restrictions and improved conditions in China contributed to more reliable shipping schedules.
  • Dry Bulk cargo volume at West Coast Ports, including Pipavav, mainly consists of coal and fertilizer imports. The port handled 3.91 million metric tons (MMT) of Dry Bulk Cargo, down from 4.19 MMT in the previous year, primarily due to cargo shifting back to a nearby captive jetty following cyclone restoration work. The company also engaged in other opportunities such as break bulk imports and agri exports on a smaller scale.
  • In the Liquid cargo segment, the port handled about 1.03 MMT during the year, a 28% increase YoY, driven by rising LPG imports. Efficient rail evacuation (transport from port via rail network) of LPG within the port allowed LPG importers to expand their reach to the hinterland at a lower logistics cost.
  • Car exports (*RoRo- Roll-on/Roll-off; example transporting Ford car from plant to distributor) from the West Coast faced challenges, but the port managed to handle 40,237 cars during the year, a significant increase from the previous year's 23,874 cars. This rebound was due to the addition of new customers and increased exports by existing customers.

 

Outlook going ahead remains stable on easing of supply chain issues and improvement in import volumes 

  • With China opening up and inflation impacting the western economies, the situation of port congestion has eased, and global supply chain has stabilised. The availability of containers has changed from shortage to excess supply. The ocean freight rates for the shipping lines have been on a downward trend as compared to last two years but they remain high as compared to the pre-covid days.
  • As per the estimates of World Trade Organisation, the global trade growth is likely to be at 1.7% in 2023 lower than its 12-year average of 2.7% due to high inflation, monetary tightening and financial uncertainty but it is likely to sharply improve in 2024 to 3.2%.
  • The Container volume on the West Coast of India saw an increase of 4% to 14.56 mn TEUs as compared to 13.95 mn TEUs in the previous year. The increase is driven mainly by the imports into the country while the Export volume to the Western countries has been impacted.
  • Considering the economic situation in the western countries, the Exports from India to the US and Europe are likely to remain under pressure in short term. But the Exports to the Middle East and to the Far East are likely to remain steady. The Imports into India are likely to see improvement with the consumption economy continuing to do well.

Expansion across segments

  • GPPL’s utilization across segments such as dry bulk, liquid cargo and containers stands at 75%, 52% and 57% respectively.
  • Dry Bulk – In FY23, GPPL commissioned additional warehouse space of 10,000 sq. mtrs. for storage of fertiliser. In order to increase the rake loading capacity and to enable faster evacuation of fertiliser cargo, GPPL has now commissioned two additional wagon loading equipment on the rail line. It will also provide operational flexibility in simultaneously handling different types of fertiliser cargo for loading on rakes.
  • In an endeavour to improve the local ecosystem around the port, GPPL has entered into an agreement for hiring of a warehouse on a long-term lease at the Multi Modal Logistics Park being developed outside the port. It will help in providing warehousing solutions to the local cargo customers from immediate hinterland.
  • Liquid cargo- Capex of USD 90 million for the construction of a new liquid berth, in response to growing business requirements. The current berth is already operating at over 50% capacity, and considering the time required for obtaining necessary permissions and completing construction, the company aims to provide efficient waterfront facilities to tank farm operators within the port. Once completed, it will increase the Liquid cargo handling capacity at Pipavav from 2  MMT to 5.2 MMT.
  • Additionally, the company has completed capex to upgrade the existing Liquid Berth infrastructure to handle partially loaded Very Large Gas Carriers (VLGCs), pending necessary permissions. These initiatives will increase the port's capacity for handling LPG and align with the Government of India's initiative to provide LPG connections to households through the Pradhan Mantri Ujwala Yojana.
  • The company continues to collaborate closely with its business partners to explore new opportunities in RoRo segment.

Pipavav Railway Corporation Limited (PRCL) aiding evacuation

  • PRCL is an associate company, GPPL holds 38.8% stake in the same.
  • PRCL's contribution involves providing a rail link to the Port in Pipavav, Gujarat, which is utilized by rail operators for the transportation of cargo to and from the port.
  • In addition to this, it has initiated Container Train Operations to and from Pipavav Port, further enhancing its rail connectivity.

 

Financial performance

Revenue consists of Income from Port Services and Other Operating Income. Income from Port Services includes Income from Marine Services, Container & Cargo Handling, Storage services as well as value-added Port Services. Other Operating Income comprises incidental Income from Operations and lease rentals from sub-leasing of land to various Port users. Majority of customers of GPPL are not located in India. The customers in the Container business are primarily the Shipping lines and in the case of Dry Bulk, Liquid and RoRo it is the local companies that import/ export the cargo.

 

Related party transactions are not ramping up

GPPL benefits from strong parentage of Maersk and its network. In usual course of business, it receives income from Maersk which is not increasing significantly. Another major transaction is dividend payment to promoter (APM Terminals Mauritius). GPPL has a well laid out dividend policy and as stated has shared entire distributable profits to shareholders (current dividend yield ~5%).

 

GPPL has shown resilience during cyclones

  • The West Coast of India has experienced an increasing frequency of cyclones, raising concerns about their impact. The port recently faced Cyclone Biparjoy. All employees and equipment remained safe, and the port facility sustained no significant damage. Port operations were temporarily suspended for about 7 days due to severe weather conditions but resumed promptly after the cyclone subsided. The backlog was cleared within a week.
  • The Saurashtra region of Gujarat was hit by Cyclone Tauktae on 17th May 2021. It disrupted the main grid power supply and communication links. Efforts are underway to restore the Bunds, the port compound wall, and the jetty fenders, with completion expected by end of 2023. GPPL has booked Rs. 37 Cr/Rs. 4 Cr in FY23/FY22 as exceptional expenses.
  • The company's Disaster Management Plans include procedures to mitigate potential risks, and management regularly reviews these plans to ensure effective measures are in place.

Accolades and Green Initiatives:

  • GPPL has earned the distinction of being India's most efficient port for two consecutive years, as recognized by the World Bank and S&P Global Market Intelligence through the Global Port Performance Index.
  • Additionally, the company has received certification as a "Great Place to Work" for the fifth consecutive year based on the Trust Index Employee Survey.
  • GPPL has taken significant steps as part of its Green Initiatives to establish Pipavav as "Gujarat’s Green Gateway." Last year, a milestone was achieved with the commissioning of a 1,000 kWp capacity rooftop solar power plant.
  • Building on this progress, the company has recently entered into a Power Purchase Agreement to procure green power, with the power generating company now supplying green energy to the grid. This move means that approximately 45% of the company's power requirements will be met through environmentally friendly sources.
  • In line with its commitment and in alignment with its parent company's goals, GPPL is steadfastly pursuing the objective of achieving net-zero greenhouse gas emissions by the year 2040.

Gujarat Pipavav Port: Q1FY24 Result Update - 19 Aug 2023

Particulars

Q1FY24

YoY Trend

Comments

Revenue

215

+4%

 Aided by higher container volumes (coastal and   transhipment) 

EBITDA

106

-5%

 

EBITDA Margin

49.3%

-480 bps

 Increase in operational costs on account of change in   volume mix

PAT

68

+15%

 Surge in other income supported profits

Taking into account that operations were suspended for 16 days (power outage and cyclone), company delivered even results.
 

 

Gujarat Pipavav Port: Q4FY23 Result Update - 26 May 2023

 

Particulars

Q4FY23

YoY Growth

Comments

Revenue

235

7%

Container (TEUs) volumes grew by 22% to 1.99 Lakh, while Liquid (MT)  grew by 23% to 2.87 Lakh

EBITDA

130

2%

EBITDA margin at 55.4%

PAT

85

17%

 

Weak quarter due to global uncertainty and correction in the logistics sector. Container volumes are to remain muted, while liquid is to be robust. Capex of $90 million for LPG capacity expansion.

 

Gujarat Pipavav: Quarterly Result - 11 Nov 2022

Gujarat Pipavav Port Ltd

Market Cap 4,685 Cr

CMP 96

EV/EBITDA 7.6x FY23

 

Results

INR Cr.

YoY Growth

Comments

Revenue        

227.26

16.72%

Higher container & bulk revenue

EBITDA

131.63

13.38%

Margins at 53%, due to Service cost increase

Check 10 year X-ray here

Key Highlights

  • Within the segments, container volumes grew 19% on improved EXIM and trans-shipment volumes while bulk volumes decreased by 6%.
  • Liquid volumes grew by 6% to 207,758 MT due to higher LPG volume, with expansion capex lined.
  • Cyclone Tauktae damages have been recovered, as well facilities upgraded.

 

Management Outlook

  • Management  doesn’t expects weak global trade to hurt much due to Asia concentration , container rate down will help not exposed to Europe or
  • Management guided on higher incoming fertilizer imports, which will be bagged and exported to increase margins.
  • Company will be starting 1-2 new connectivity routes to Middle East as export rise.

Gujarat Pipavav: Quarterly Result - 05 Aug 2022

Gujarat Pipavav Port Ltd | Market Cap: Rs. 3,945 Cr

CMP 82 | EV/EBITDA 6x FY23

Results

(Rs. Cr)

Y-o-Y Growth

Comments

Revenue

216.98

30%

Driven by higher container and bulk volumes

EBITDA

113.2

29%

High volumes at good profitability

Click here for 10 year X-ray

Key highlights:

  • Recently took a tariff hike of 5-6% and added a new line
  • Within the segments, container volumes grew 25% on improved exim and trans-shipment volumes while bulk volumes grew 41%
  • The liquid and Ro-Ro segment also reported healthy growth
  • Exception items during the quarter include repair expenses incurred for the facilities impacted by cyclone Tauktae, for which claims are yet to be received
  • On the issue of concession renewal, GPPL continues to engage with the Gujarat Maritime Board (GMB). GMB has appointed AT Kearney to review the process and has received its recommendations.

Management Outlook

  • Container volumes have been on an uptrend in the past few months and the current trend in trans-shipment volumes is expected to stay till the year-end.
  • The company has been adding customers from coal, fertilizer, agri commodities on the bulk side to improve bulk volumes.
  • With completion of work on VLGC terminal by Sep 2022, LPG volumes should start improving from current levels.

Key Ratios of Gujarat Pipavav Port

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Company Name CMP(₹)
Change ₹(%)
Market Cap
Net Sales (₹ Cr.)
Latest EPS (₹)
Net Profit Margin %
Latest P/E
Latest P/BV
Gujarat Pipavav Port 133.5 -0.5 (-0.3%) Small Cap 988 7.5 39.8 18 2.9

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales867660683649702735733741917988
Operating Expenses 366284265275313289311331415416
Manufacturing Costs263199179183213193209218280279
Material Costs0000000000
Employee Cost 62464853605767747579
Other Costs 41383739413935396059
Operating Profit 501376419374389447422410502572
Operating Profit Margin (%) 57.8%57.0%61.3%57.6%55.4%60.7%57.6%55.4%54.8%57.9%
Other Income 40303537455144315180
Interest 26000076589
Depreciation 8397107104113131133129116116
Exceptional Items -45000000-5-37-53
Profit Before Tax 387309347307321359327303392474
Tax 01189710911566108109100120
Profit After Tax 387191250198206292218193292354
PAT Margin (%) 44.7%29.0%36.6%30.6%29.3%39.8%29.8%26.1%31.8%35.8%
Adjusted EPS (₹)8.04.05.24.14.36.14.54.06.07.3
Dividend Payout Ratio (%)0%48%74%83%82%93%100%100%101%100%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1,7911,9972,0192,0142,0212,0852,0322,0322,0782,093
Share Capital 483483483483483483483483483483
Reserves 1,3071,5131,5361,5311,5381,6011,5491,5491,5951,609
Minority Interest0000000000
Debt0000000000
Long Term Debt0000000000
Short Term Debt0000000000
Trade Payables27142628333034446660
Others Liabilities 2673684774876026607821,1301,2881,510
Total Liabilities 2,0852,3792,5222,5292,6562,7742,8483,2073,4323,663

Fixed Assets

Gross Block1,9811,4391,8781,9912,0082,1122,1062,1752,2202,297
Accumulated Depreciation51997202305418529639767857939
Net Fixed Assets1,4621,3421,6761,6861,5901,5831,4671,4081,3631,358
CWIP 65392923245653499581
Investments 83838383838383838383
Inventories1315161488101089
Trade Receivables36292926514648528658
Cash Equivalents 2442953524325346507258568951,045
Others Assets1812232742573444004617499041,030
Total Assets 2,0852,3792,5222,5292,6562,7742,8483,2073,4323,663

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 444389402315296340384380370485
PBT 387309347307321359327303392474
Adjustment 11877827975939810683103
Changes in Working Capital 198332-19-29-492033346
Tax Paid -80-80-59-53-71-64-60-61-107-138
Cash Flow From Investing Activity -207-285-241-129-122-81-101-166-82-107
Capex -114-366-143-54-31-15-45-51-58-71
Net Investments -13958-118-86-120-105-98-142-52-98
Others 45232112293941272862
Cash Flow From Financing Activity -3320-227-204-198-250-296-220-273-370
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -304000000000
Interest Paid -280000-7-6-500
Dividend Paid 00-188-169-164-188-271-193-246-338
Others 00-38-34-34-55-19-22-26-31
Net Cash Flow -95104-66-18-258-13-6158
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)24.2510.112.459.8410.1914.2410.619.5114.216.96
ROCE (%)23.6416.3217.315.2515.9217.8316.1715.1219.4523.17
Asset Turnover Ratio0.440.30.280.260.270.270.260.280.320.34
PAT to CFO Conversion(x)1.152.041.611.591.441.161.761.971.271.37
Working Capital Days
Receivable Days15181515202423222322
Inventory Days5888645433
Payable Days0000000000

Gujarat Pipavav Port Ltd Stock News

Gujarat Pipavav Port Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Gujarat Pipavav Port on 25-Feb-2025 16:59 is ₹133.4.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 25-Feb-2025 16:59 the market cap of Gujarat Pipavav Port stood at ₹6,451.5.
The latest P/E ratio of Gujarat Pipavav Port as of 25-Feb-2025 16:59 is 17.92.
The latest P/B ratio of Gujarat Pipavav Port as of 25-Feb-2025 16:59 is 2.93.
The 52-week high of Gujarat Pipavav Port is ₹250.5 and the 52-week low is ₹127.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Gujarat Pipavav Port is ₹987.2 ( Cr.) .

About Gujarat Pipavav Port Ltd

Gujarat Pipavav Port Limited was incorporated on August 05, 1992 to construct, operate and maintain an all-weather port at Pipavav, District Amreli, in the State of Gujarat. The port is designed to handle bulk, container, liquid cargo and RORO and to provide port services such as marine services, material handling and storage operations.

The company has entered into a 30 year Concession Agreement with Government of Gujarat and Gujarat Maritime Board (GMB) dated September 30, 1998 to engage in the business of developing, constructing, operating and maintaining the port on a BOOT (Build Own Operate Transfer) basis.

During the year 2005, AP Moller-Maersk group together with certain financial investors acquired the complete shareholdings held by the original promoter viz. Seaking Infrastructure Limited (SKIL) group, on receipt of approval from Government of Gujarat, and GMB. Accordingly, AP Moller-Maersk group became the key promoter of the Company under the Concession agreement.

Pursuant to the approval of the shareholders of the company in an extra ordinary general meeting held on November 17, 2009, the company has issued and allotted through Initial Public Offering (IPO) 108,695,652 equity shares of Rs 10 each at a premium of Rs 36 per share aggregating to a total of Rs 5,00 crore to all categories of investors. The issue was made in accordance with the terms of the company’s prospectus dated August 30, 2010 and the shares got listed on September 9, 2010 on Bombay Stock Exchange and National Stock Exchange.

Business area of the company

Gujarat Pipavav Port is engaged in providing port services such as marine services, material handling and storage operations.

Services

  • Containers
  • Roll-on Roll-off (RoRo)
  • Bulk Cargo
  • Liquid Cargo
  • Storage
  • Maritime Personnel
  • Towage
  • Tariffs
  • Marketing Tools

Awards

  • 2010- EPC World Award 2010 - Outstanding contribution in Ports & Shipping
  • 2011- Maritime And Logistics Awards (MALA) 2011 - Fastest growing Port
  • 2011- EXIM Award 2011 - Emerging Gateway Port of the Year
  • 2012- Maritime And Logistics Awards (MALA) 2012 - CSR Award
  • 2012- CNBC Infrastructure Excellence Awards 2012
  • 2013- Maritime And Logistics Awards (MALA) 2013 - HSSE Award
  • 2015- Samudra Manthan 2015 - Safe Port of the Year Award
  • 2016- Gujarat Star Awards 2016 - Emerging port of the year for RoRo business
  • 2017- Gujarat Star Awards 2017 - Best Port of the year for RoRo operations
  • 2017- Gujarat Star Awards 2017 - runner up for The Port of the Year - Health, Safety and Environment
  • 2018- Appreciation certificate from Government of Gujarat for ‘Mukhya Mantri Apprenticeship Yojana’ Apprentice Program
  • 2020- Award from New Delhi-based Integrated Health & Wellbeing Council for societal development and community support initiatives under the ‘COVID Relief Project’

Milestones

  • First Public Private Project (PPP) in port sector in India
  • First Public Private Project in railways through PRCL [Pipavav Railway Corporation Ltd]  in India
  • First port to start double stack train services for containers in India. Which has a capacity of carrying 180 TEUs as against 90 TEUs carried in a single stack train. 
  • First Port to receive the first coastal RoRo vessel in India 
  • One of the First Ports to have environment friendly coal yard.

Timeline

  • 1998- Concession awarded to GPPL
  • 2000- PRCL (Pipavav Railway Corporation Ltd) formed - First PPP project with Indian Railways
  • 2001- APM Terminals invests 12.5% in GPPL (Gujarat Pipavav Port Ltd)
  • 2003- Port gets rail connectivity through JV with Indian Railways
  • 2005- APM Terminals acquires controlling stakes
  • 2006- Pioneers double stack container rakes in India.
  • 2009- Container terminal became operational.
  • 2010- Company listed on Indian stock exchanges.
  • 2014- Liquid cargo operations commences at port.
  • 2015- RoRo Operations commences at port.
  • 2016- Container capacity expanded to 1.35 mTEUs
  • 2017- Handles 100,000th Auto Unit - key milestone in just 20 months
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