Godawari Power & Ispat
Godawari Power & Ispat
Industrial ProductsKey Fundamentals
SmallcapIron & Steel ProductsIndustrial ProductsTapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
1- Company is almost debt free.
Weaknesses
1- The company has delivered a poor sales growth of 6.36% over past five years.
Growth Rate
AI Analysis — Bull vs Bear
Godawari Power & Ispat has a market cap of about ₹15,262 Cr and trades at a P/E of 19.1x and a P/B of 2.7x. Its long-term record is strong, with 10-year profit CAGR of 27% and 10-year stock CAGR of 56%, and the company is almost debt free. More recently, sales fell at a 2% CAGR over 3 years, profit grew at just 1% CAGR over the same period, ROE dropped to 15% last year from a 10-year average of 23%, and promoter holding fell by 4.50% over 3 years.
- The company is almost debt free, which gives it room to handle the ups and downs of the steel and iron ore cycle and to fund capex without much leverage risk.
- Profit has compounded at 27% a year over 10 years, well ahead of 10-year sales CAGR of 11%. This points to better operating leverage and margins over the long cycle.
- ROE has averaged 23% over both 5 and 10 years, showing the business can earn high returns on capital across a full commodity cycle.
- Trailing growth has picked up, with TTM sales up 8% and TTM profit up 11%. That compares with a 3-year sales CAGR of -2% and 3-year profit CAGR of 1%.
- The stock has returned a 30% CAGR over 5 years and 56% over 10 years, so the long-term shareholder record is strong.
- A P/E of 19.1x is moderate for a company with a 10-year profit CAGR of 27% and a 10-year average ROE of 23%.
- At about ₹15,262 Cr market cap, the company has enough scale to be well known among mid-cap industrial and metals names.
- Sales have shrunk at a 2% CAGR over the last 3 years, and 5-year sales growth is only 6.36%. That suggests the top line has stalled after the commodity upcycle.
- Profit grew at just 1% CAGR over 3 years and 5% over 5 years, far below the 27% 10-year CAGR. This shows most of the long-term earnings growth came earlier in the cycle.
- ROE fell to 15% last year from a 3-year average of 18% and a 5- and 10-year average of 23%, so returns on capital are declining.
- Promoter holding has fallen by 4.50% over the last 3 years, which some investors may read as reduced insider commitment.
- The stock is down 11% over the past year, compared with a 22% CAGR over 3 years, showing that momentum has weakened recently.
- At 2.7x book value and a last-year ROE of 15%, the valuation assumes returns recover toward historical levels. If ROE stays low, that premium is harder to justify.
- A dividend yield of 0.44% gives little income support if earnings or the stock price turn volatile.
- As an integrated steel and iron ore business, earnings depend on commodity prices. The swing from a 27% 10-year profit CAGR to a 1% 3-year CAGR shows how sensitive profits are to the cycle.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- Land secured for Maharashtra CRM project Sep 25
GPIL received an offer letter for 31.45 acres in Maharashtra to set up a CRM project. This expands its industrial capacity beyond its Chhattisgarh base.
- New energy storage subsidiary formed Oct 1
The board approved a wholly owned subsidiary, Godawari Energy Solutions, focused on battery energy storage systems and renewable energy EPC projects. It is a diversification step into the clean energy value chain.
- Active investor outreach across brokerages Sep 28
Management held a virtual one-on-one with Nirmal Bang Retail on Sep 8, attended the Anand Rathi G200 Summit in Mumbai on Sep 21 and joined Arihant Bharat Connect 2026 on Sep 28 (4:00-5:00 PM IST). All were disclosed under SEBI LODR Regulation 30.
- Raipur plant visit for analysts Sep 25
GPIL hosted an in-person plant visit at its Raipur facility on Sep 25, 2026, followed by a management interaction with analysts and investors.
- Re.1 final dividend at AGM Sep 19
At its Sep 19, 2026 AGM, GPIL declared a final dividend of Re.1 per share for FY26 and reappointed key directors. The payout is modest and routine.
TL;DR: GPIL's recent news is constructive. It secured 31.45 acres in Maharashtra for a CRM project and set up a battery energy storage and renewable EPC subsidiary, which together point to capacity growth and diversification. None of the articles report a headwind, but they also include no figures on earnings, capex size or margins, so execution and funding risk on the new ventures can't be judged yet. The heavy investor engagement in September suggests management is building institutional interest, so watch upcoming quarterly results and project capex disclosures to see whether the expansion story holds up.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,326 | 1,291 | 1,309 | 1,530 | 1,342 | 1,268 | 1,298 | 1,468 | 1,323 | 1,308 | 1,139 | 1,610 | 1,750 |
| Expenses | 1,019 | 930 | 978 | 1,201 | 935 | 1,021 | 1,076 | 1,150 | 999 | 1,048 | 922 | 1,171 | 1,417 |
| Operating Profit | 307 | 361 | 331 | 329 | 408 | 247 | 221 | 318 | 324 | 260 | 218 | 439 | 334 |
| OPM % | 23% | 28% | 25% | 22% | 30% | 19% | 17% | 22% | 24% | 20% | 19% | 27% | 19% |
| Other Income | 44 | 26 | 17 | 41 | 32 | 24 | 20 | 32 | 26 | 23 | 27 | 18 | 38 |
| Interest | 10 | 10 | 16 | 24 | 14 | 14 | 13 | 15 | 15 | 11 | 13 | 19 | 20 |
| Depreciation | 34 | 35 | 35 | 37 | 38 | 39 | 37 | 40 | 44 | 41 | 45 | 48 | 50 |
| PBT | 307 | 343 | 296 | 310 | 387 | 218 | 192 | 295 | 291 | 231 | 188 | 390 | 302 |
| Tax % | 25% | 25% | 23% | 29% | 26% | 27% | 24% | 25% | 26% | 30% | 24% | 28% | 26% |
| Net Profit | 231 | 257 | 229 | 219 | 287 | 159 | 145 | 222 | 216 | 162 | 143 | 280 | 222 |
| EPS in Rs | 3.4 | 3.78 | 3.37 | 3.21 | 4.22 | 2.38 | 2.16 | 3.31 | 3.23 | 2.41 | 2.14 | 4.17 | 3.29 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,384 | 1,976 | 1,799 | 2,506 | 3,294 | 3,270 | 3,949 | 5,397 | 5,745 | 5,445 | 5,370 | 5,376 | 5,808 |
| Expenses | 2,026 | 1,759 | 1,508 | 1,909 | 2,505 | 2,646 | 2,812 | 3,529 | 4,612 | 4,117 | 4,176 | 4,114 | 4,557 |
| Operating Profit | 358 | 218 | 291 | 597 | 790 | 624 | 1,137 | 1,868 | 1,134 | 1,328 | 1,194 | 1,263 | 1,251 |
| OPM % | 15% | 11% | 16% | 24% | 24% | 19% | 29% | 35% | 20% | 24% | 22% | 23% | 22% |
| Other Income | 60 | 14 | 16 | 6 | 9 | -3 | 48 | 175 | 93 | 129 | 109 | 72 | 107 |
| Interest | 224 | 252 | 259 | 263 | 253 | 212 | 115 | 20 | 20 | 60 | 55 | 58 | 64 |
| Depreciation | 118 | 126 | 120 | 132 | 133 | 137 | 109 | 105 | 124 | 141 | 155 | 178 | 185 |
| PBT | 77 | -147 | -73 | 208 | 414 | 273 | 962 | 1,918 | 1,083 | 1,256 | 1,092 | 1,098 | 1,110 |
| Tax % | 8% | -32% | 1% | -3% | 37% | 35% | 32% | 24% | 27% | 26% | 26% | 27% | — |
| Net Profit | 71 | -100 | -74 | 215 | 261 | 177 | 655 | 1,467 | 793 | 936 | 813 | 802 | 808 |
| EPS in Rs | 1.01 | -1.35 | -1.06 | 2.95 | 3.58 | 2.37 | 9.06 | 20.81 | 11.26 | 13.76 | 12.13 | 11.93 | 12.01 |
| Div. Payout % | 5% | 0% | 0% | 0% | 0% | 0% | 10% | 12% | 7% | 7% | 17% | 8% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 32 | 34 | 34 | 34 | 34 | 34 | 66 | 65 | 62 | 61 | 62 |
| Reserves | 892 | 763 | 663 | 889 | 1,135 | 1,344 | 2,001 | 3,246 | 3,841 | 4,434 | 4,845 | 5,747 |
| Borrowings | 2,038 | 2,007 | 2,214 | 2,124 | 1,886 | 1,697 | 896 | 428 | 317 | 52 | 311 | 443 |
| Other Liabilities | 786 | 613 | 342 | 405 | 456 | 407 | 542 | 1,149 | 937 | 998 | 942 | 1,045 |
| Total Liabilities | 3,748 | 3,415 | 3,253 | 3,452 | 3,511 | 3,482 | 3,474 | 4,890 | 5,159 | 5,545 | 6,159 | 7,296 |
| Fixed Assets | 2,403 | 2,289 | 2,326 | 2,264 | 2,249 | 2,269 | 2,013 | 1,530 | 2,065 | 2,362 | 2,730 | 3,424 |
| CWIP | 187 | 238 | 136 | 171 | 130 | 137 | 137 | 643 | 443 | 433 | 432 | 470 |
| Investments | 67 | 114 | 108 | 131 | 132 | 123 | 277 | 239 | 242 | 222 | 471 | 391 |
| Other Assets | 1,091 | 774 | 683 | 885 | 1,000 | 951 | 1,046 | 2,478 | 2,410 | 2,528 | 2,526 | 3,012 |
| Total Assets | 3,748 | 3,415 | 3,253 | 3,452 | 3,511 | 3,482 | 3,474 | 4,890 | 5,159 | 5,545 | 6,159 | 7,296 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 551 | 377 | 15 | 451 | 550 | 551 | 969 | 1,330 | 962 | 1,044 | 898 | 1,157 |
| Investing | -268 | -6 | 14 | -121 | -66 | -150 | -62 | -1,095 | -220 | -754 | -436 | -1,336 |
| Financing | -279 | -374 | -21 | -354 | -491 | -401 | -900 | -233 | -246 | -679 | -252 | 156 |
| Net Cash Flow | 4 | -2 | 8 | -24 | -7 | 0 | 6 | 2 | 496 | -388 | 210 | -23 |
| Free Cash Flow | 304 | 327 | -38 | 346 | 474 | 387 | 929 | 724 | 513 | 626 | 364 | 76 |
| CFO/OP | 159 | 176 | 6 | 79 | 81 | 100 | 98 | 93 | 111 | 100 | 96 | 112 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 24 | 18 | 23 | 23 | 17 | 20 | 25 | 24 | 19 | 14 | 9 | 9 |
| Inventory Days | 104 | 110 | 98 | 112 | 123 | 112 | 100 | 133 | 88 | 111 | 114 | 124 |
| Days Payable | 120 | 119 | 40 | 42 | 40 | 36 | 38 | 81 | 57 | 65 | 57 | 59 |
| Cash Conversion Cycle | 8 | 9 | 81 | 93 | 99 | 96 | 87 | 76 | 50 | 60 | 67 | 73 |
| Working Capital Days | -32 | -90 | 39 | 40 | 47 | 50 | 52 | 38 | 34 | 53 | 43 | 40 |
| ROCE % | 8% | 3% | 6% | 15% | 21% | 15% | 34% | 54% | 27% | 29% | 23% | 21% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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Company Information
Godawari Power & Ispat is mainly engaged in the business of Mining of Iron Ore and Manufacturing of Iron Ore Pellets, Sponge Iron, Steel Billets, Wire Rods, H.B. Wire and Ferro Alloys with generation of Electricity.
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