Revenue and Profitability Trends
The port’s net sales have shown a commendable upward trajectory, rising from ₹702 crores in fiscal 2019 to nearly ₹988 crores in fiscal 2025. This steady increase reflects the company’s ability to expand its operational throughput and capture growing demand in the transport infrastructure sector. Operating profit before depreciation and interest (PBDIT) excluding other income has also improved significantly, reaching ₹578 crores in fiscal 2025 from ₹389 crores in 2019, indicating effective cost control and operational efficiency.
Incorporating other income, the operating profit margin has strengthened to over 58% in the latest fiscal year, up from approximately 55% in 2019. The gross profit margin similarly improved, reaching 66% in 2025, underscoring the company’s strong pricing power and cost management. Profit after tax (PAT) has followed a positive trend, climbing to ₹380 crores in fiscal 2025 from ₹206 crores in 2019, with the PAT margin expanding to above 40%, a notable improvement from the mid-30% range seen earlier.
Patience pays off here! This Micro Cap from Fertilizers sector has delivered steady gains quarter after quarter. Now proudly part of our Reliable Performers list.
- - New Reliable Performer
- - Steady quarterly gains
- - Fertilizers consistency
Balance Sheet and Capital Structure
Guj Pipavav Port maintains a strong balance sheet with shareholder funds increasing steadily from ₹2,239 crores in 2021 to ₹2,337 crores in 2025. The company notably carries no long-term or short-term borrowings, reflecting a debt-free status that enhances financial stability and reduces interest burden. Deferred tax liabilities have increased moderately, consistent with the company’s growth and asset base expansion.
On the asset side, net block values have gradually declined from ₹1,528 crores in 2020 to ₹1,276 crores in 2025, reflecting accumulated depreciation and a measured approach to capital expenditure. Capital work in progress has risen to ₹83 crores, signalling ongoing investments to support future growth. Non-current investments have also increased, indicating strategic deployment of surplus funds.
Cash Flow and Liquidity Position
The company’s cash flow from operating activities has remained robust, with ₹446 crores generated in fiscal 2025, supporting both investing and financing needs. Cash flow from investing activities has been negative, reflecting continued capital expenditure, but this is balanced by prudent financing outflows primarily related to dividend payments or share buybacks, given the absence of debt repayments. Despite some fluctuations, the company maintains a healthy cash and bank balance exceeding ₹1,000 crores, ensuring ample liquidity for operational and strategic requirements.
Guj Pipavav Port caught your attention? Explore our comprehensive research report with in-depth analysis of this Smallcap Transport Infrastructure stock – fundamentals, valuations, financials, and technical outlook!
- - Comprehensive research report
- - In-depth Smallcap analysis
- - Valuation assessment included
Summary of Historical Performance
Over the past six years, Guj Pipavav Port has exhibited consistent growth in revenue and profitability, supported by strong operating margins and a clean balance sheet free of debt. Earnings per share have improved steadily, reaching over ₹8 per share in fiscal 2025, up from under ₹5 in 2019. The company’s ability to generate strong cash flows while investing in capital projects highlights its operational resilience and strategic foresight.
With a stable asset base, increasing reserves, and a solid liquidity position, Guj Pipavav Port is well-positioned to capitalise on future growth opportunities in the transport infrastructure sector. Its financial discipline and consistent performance metrics make it a noteworthy player for investors seeking exposure to this segment.
Get 2 full years of MojoOne Premium for only Rs. 12,999. Subscribe for 1 year and we'll add another year FREE. Offer valid for a limited time. Start Saving Now →
