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Gujarat Pipavav Port Q2 FY27 results: net profit down 5.0% to ₹152.69 crore, revenue up 13.3%
Gujarat Pipavav Port Limited reported Q2 FY27 consolidated revenue of ₹339.15 crore, up 13.3% from ₹299.35 crore a year earlier, and a net profit of ₹152.69 crore. EBITDA rose to ₹211.82 crore with a margin of 62.5%, while profit before tax fell 5.3% and EPS was ₹3.16. On a standalone basis, revenue was ₹339.15 crore and net profit was ₹150.1 crore.
Key points
- Consolidated revenue rose 13.3% to ₹339.15 crore from ₹299.35 crore in Q2 FY26.
- EBITDA was ₹211.82 crore, up 19.1%, with the margin at 62.5% against 59.4%.
- Profit before tax fell 5.3% to ₹197.01 crore and net profit fell 5.0% to ₹152.69 crore.
- Basic EPS was ₹3.16, down from ₹3.32 in Q2 FY26 and up from ₹3.06 in Q1 FY27.
- H1 FY27 revenue was ₹670.92 crore, up 22.0%, and net profit was ₹300.59 crore, up 13.4%.
How did Gujarat Pipavav Port perform in Q2 FY27?
Consolidated revenue for Q2 FY27, the July–September 2026 quarter, was ₹339.15 crore, up 13.3% from ₹299.35 crore in Q2 FY26 and 2.2% from ₹331.77 crore in Q1 FY27. Total income was ₹356.49 crore, up 11.6% from a year earlier. EBITDA was ₹211.82 crore, up 19.1% from ₹177.84 crore, and the EBITDA margin rose 3.1 percentage points to 62.5% from 59.4%.
Profit before tax was ₹197.01 crore, down 5.3% from ₹208.06 crore a year earlier and 0.2% from ₹197.31 crore in the previous quarter. Net profit was ₹152.69 crore, down 5.0% from ₹160.73 crore a year earlier but up 3.2% from ₹147.90 crore in Q1 FY27. Basic EPS was ₹3.16, against ₹3.32 a year earlier and ₹3.06 in the previous quarter. On a standalone basis, revenue was ₹339.15 crore and net profit was ₹150.1 crore, with profit before exceptional items and tax of ₹158.31 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 339.15 | 331.77 | 299.35 | +13.3% | +2.2% |
| Other income | 17.34 | 15.45 | 20.21 | −14.2% | +12.2% |
| Total expenses | 159.48 | 149.91 | 154.63 | +3.1% | +6.4% |
| EBITDA | 211.82 | 213.98 | 177.84 | +19.1% | −1.0% |
| EBITDA margin | 62.5% | 64.5% | 59.4% | +3.1 pp | −2.0 pp |
| Profit before tax | 197.01 | 197.31 | 208.06 | −5.3% | −0.2% |
| Tax | 51.14 | 50.60 | 53.96 | −5.2% | +1.1% |
| Net profit | 152.69 | 147.90 | 160.73 | −5.0% | +3.2% |
| EPS (₹) | 3.16 | 3.06 | 3.32 | −4.8% | +3.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Gujarat Pipavav Port's costs and profit?
Total expenses were ₹159.48 crore, up 3.1% from ₹154.63 crore in Q2 FY26 and 6.4% from ₹149.91 crore in Q1 FY27. Employee cost rose 14.8% to ₹26.31 crore from ₹22.91 crore, while other expenses rose 2.5% to ₹101.02 crore from ₹98.60 crore. Finance costs fell 29.3% to ₹1.04 crore from ₹1.47 crore, and depreciation fell 1.7% to ₹31.10 crore from ₹31.65 crore. There was no cost of materials.
Other income fell 14.2% to ₹17.34 crore from ₹20.21 crore a year earlier, while it rose 12.2% from ₹15.45 crore in the previous quarter. Q2 FY26 included an exceptional gain of ₹43.13 crore, and Q2 FY27 had no exceptional item. Tax was ₹51.14 crore, down 5.2% from ₹53.96 crore a year earlier and up 1.1% from ₹50.60 crore in Q1 FY27. The filing excerpts do not state reasons for the movements in these lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 26.31 | 22.91 | +3.40 | +14.8% |
| Finance costs | 1.04 | 1.47 | −0.43 | −29.3% |
| Depreciation | 31.10 | 31.65 | −0.55 | −1.7% |
| Other expenses | 101.02 | 98.60 | +2.42 | +2.5% |
| Total expenses | 159.48 | 154.63 | +4.85 | +3.1% |
| Other income | 17.34 | 20.21 | −2.87 | −14.2% |
| Tax | 51.14 | 53.96 | −2.82 | −5.2% |
| Exceptional items | none | +43.13 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹670.92 crore, up 22.0% from ₹549.8 crore in H1 FY26, and total income was ₹703.71 crore, up 19.2% from ₹590.25 crore. Profit before tax rose 14.9% to ₹394.32 crore from ₹343.12 crore, while net profit rose 13.4% to ₹300.59 crore from ₹265.06 crore. EPS for the half year was ₹6.22, up from ₹5.48 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 670.92 | 549.80 | +22.0% |
| Profit before tax | 394.32 | 343.12 | +14.9% |
| Net profit | 300.59 | 265.06 | +13.4% |
| EPS (₹) | 6.22 | 5.48 | +13.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹3,127.34 crore as at 30 September 2026, against ₹3,023.69 crore as at 31 March 2026. Total equity was ₹2,445.68 crore compared with ₹2,388.43 crore at the previous balance sheet date, while borrowings were nil at both dates. Cash was ₹12.12 crore against ₹9.31 crore, inventories fell to ₹8.99 crore from ₹11.81 crore, trade receivables rose to ₹80.85 crore from ₹44.32 crore and trade payables rose to ₹74.43 crore from ₹57.18 crore.
Cash flow from operations for H1 FY27 was ₹435.2 crore, against ₹192.85 crore in H1 FY26. Investing cash flow was negative ₹146.24 crore compared with ₹79.8 crore a year earlier, and financing cash flow was negative ₹294.16 crore against negative ₹219.47 crore. Capital expenditure was ₹107.63 crore in H1 FY27, up from ₹75.19 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,127 | 3,024 |
| Total equity | 2,446 | 2,388 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 12.12 | 9.31 |
| Inventories | 8.99 | 11.81 |
| Trade receivables | 80.85 | 44.32 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 435.20 | 192.85 |
| Cash from investing | −146.24 | 79.80 |
| Cash from financing | −294.16 | −219.47 |
| Capital expenditure | 107.63 | 75.19 |
Source: Company's results filing (XBRL).
How has Gujarat Pipavav Port done over the last 8 quarters?
Revenue rose year on year in each of the last seven quarters, and the trend shows the quarterly sequence rather than a single-period comparison. Revenue reached its highest level of ₹339.15 crore in Q2 FY27, after ₹331.77 crore in Q1 FY27, while the lowest was ₹250.45 crore in Q1 FY26. Net profit was highest at ₹152.69 crore in Q2 FY27, above ₹147.9 crore in Q1 FY27, and lowest at ₹99.37 crore in Q3 FY25.
The EBITDA margin peaked at 70.4% in Q4 FY26, when revenue was ₹317.21 crore and net profit was ₹142.2 crore. It then eased to 64.5% in Q1 FY27 and 62.5% in Q2 FY27, even as revenue and net profit continued to rise, with the margin's lowest point in the series at 52.8% in Q3 FY25.
What else did the company announce?
The board of Gujarat Pipavav Port approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the statutory auditors' limited review report, which was unmodified. The meeting commenced on 4 November 2026 and concluded at 4.10 PM.
The board also approved an interim dividend of Rs. 3.00 per share for the financial year 2026-27, subject to applicable taxes. The record date for shareholders eligible to receive the dividend is 12 November 2026, and the dividend amount is likely to be paid by 25 November 2026.
Quick answers
What was Gujarat Pipavav Port's revenue in Q2 FY27?
Revenue from operations was ₹339.15 crore, up 13.3% from ₹299.35 crore in Q2 FY26 (consolidated).
Did Gujarat Pipavav Port make a profit in Q2 FY27?
Yes. Net profit was ₹152.69 crore, against a net profit of ₹160.73 crore in Q2 FY26.
What was Gujarat Pipavav Port's EPS in Q2 FY27?
Basic earnings per share were ₹3.16, against ₹3.32 in Q2 FY26.
When did Gujarat Pipavav Port announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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