Gujarat Pipavav Port Limited – Investor Presentation Summary

Key Operational Highlights

  • Q2 FY2027 Volumes:
  • Container: 192,944 TEUs, up 18% YoY
  • Dry Bulk: 942,575 MT, down 10% YoY
  • Liquid: 328,868 MT, down 15% YoY
  • RORO: 58,515 units, up 3% YoY
  • H1 FY2027 Volumes:
  • Container: 361,603 TEUs, up 10% YoY
  • Dry Bulk: 1,463,053 MT, down 9% YoY
  • Liquid: 550,048 MT, down 32% YoY
  • RORO: 123,926 units, up 24% YoY

Key drivers of operational performance: Middle East conflict led to higher transhipment volume for containers, lower fertilizer and mineral imports for dry bulk, lower LPG imports for liquid, and higher exports from OEMs for RORO.

Financial Highlights

Q2 FY2027 vs Q2 FY2026:

  • Revenue: INR 3,391 million, up 13% YoY
  • EBITDA: INR 2,118 million, up 19% YoY
  • EBITDA Margin: 62%, up 300 basis points YoY
  • EBIT: INR 1,807 million, up 24% YoY
  • Net Profit: INR 1,485 million, up 18% YoY (excluding insurance recovery of INR 431.35 million in Q2 FY2026)
  • Operating Expenses: INR 626.48 million, up 1% YoY
  • Employee Benefits Expense: INR 263.13 million, up 15% YoY
  • Other Expenses: INR 383.71 million, up 5% YoY
  • Depreciation: INR 311.03 million, down 2% YoY
  • Other Income: INR 211.40 million, down 13% YoY
  • Finance Cost: INR 10.42 million, down 29% YoY
  • Tax Expense: INR 507.13 million, down 5% YoY

H1 FY2027 vs H1 FY2026:

  • Revenue: INR 6,709 million, up 22% YoY
  • EBITDA: INR 4,258 million, up 31% YoY
  • EBITDA Margin: 63%, up 400 basis points YoY
  • EBIT: INR 3,633 million, up 39% YoY
  • Net Profit: INR 2,954 million, up 14% YoY (excluding exceptional item of INR 431.35 million in H1 FY2026)
  • Operating Expenses: INR 1,063.36 million, up 4% YoY
  • Employee Benefits Expense: INR 518.63 million, up 14% YoY
  • Other Expenses: INR 869.17 million, up 13% YoY
  • Depreciation: INR 625.15 million, down 1% YoY
  • Other Income: INR 365.93 million, down 19% YoY
  • Finance Cost: INR 17.59 million, down 47% YoY
  • Tax Expense: INR 1,011.43 million, up 15% YoY

Drivers of financial performance: Higher revenue growth driven by container and RORO segments, operational efficiencies, and cost management.

Comparison to market estimates: Not specified.

Key Risks: Not disclosed.

Industry Trends & Business Environment

Macro/Industry Trends: Middle East conflict impacting trade routes, leading to volume shifts in container transhipment and bulk imports.

Impact on Company: Increased container volumes due to transhipment, but decreased dry bulk and liquid volumes.

Management Commentary & Growth Outlook

Not specified.