GPPL

The company is engaged in business of port development and operations at Pipavav Port. It offers cargo handling facilities for container bulk, break bulk and liquid bulk. Its biggest positive is that it is promoted by the AP Moller Maersk group and APM currently holds 43% stake in the company. It had come with an IPO in 2010 and issued shares at Rs.46/share. It also provides various maritime services and has a concessional agreement with Gujarat Maritime Board.

The company did well in Q4FY17 with liquid bulk, plus overall drop in costs led to a better bottomline. Its Container segment reported a 5% sequential drop due to lower reef volumes and dry bulk decreased 40% (QoQ) due to lower fertilizer volumes. Only Liquid bulk did well with a 9% increase due to higher LPG volumes. RORO – Roll On and Roll Off too did not too well reporting a 11% decline.

In terms of performance, for Q4FY17, net sales rose 4% (QoQ) at Rs.157 crore and it ended the quarter with a net profit at Rs.66 crore, up 3%. The company managed to bring down its operating costs by 21% and total expenditure by 6%; this helped shore up the EBITDA by 10% to Rs,115 crore. Margin rose from 61.7% to 65.7%.

The company ended FY17 with a consolidated net sales at Rs.630 crore, up 4% while net profit rose 29% to Rs.246 crore. The company is debt free and reserve is at a good Rs.1659 crore. Equity is at Rs.48.34 crore.