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Gujarat Industries Power Company Limited
Sector:Power Power - Generation and Supply
BSE:517300NSE:GIPCLBloomberg:GIP@INReuters:GJIP.BO
Market Lot: 1Face Value: 10ISIN Demat: INE162A01010
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11-Apr-2017
Business Profile
Gujarat Industries Power Company (GIPCL) was incorporated in 1985 as a public company and was promoted by the Government of Gujarat, Gujarat State Fertilizers & Chemicals (GSFC), Gujarat Alkalies & Chemicals (GACL) and Petrofils Co-operatives (PCL).

The company is engaged in the business of generation, transmission and distribution of electrical power. Gujarat Industries Power Company has a total capacity of 555 MW in Vadodara and Mangrol. The power from the Vadodra plant is distributed to its promoters in proportion to their original equity holding. The company undertook to set up a 145 MW power plant comprising three gas turbines, 32 MW each and one stream turbine of 49 MW using fuel efficient gas-based combined cycle technology. Gujarat Industries Power Company commissioned a 250 MW lignite-based power plant at Nani Naroli, Surat. It has its own captive lignite mines for Surat Lignite Power Plant.

The lignite mines of GIPCL have exploitable reserves to support 10,00 MW generation. The company has entered into long term and guaranteed power off-take arrangements for supply of power for all the three existing power plants. Moreover, Gujarat Industries Power Company has tariffs based on returns that are fixed after mutual negotiation with government agencies. It has also entered into firm contracts for supply of gas from GAIL and GSPC.



Financials
The company announced rise of 284.85% in standalone net profit on y-o-y basis to Rs 614.60 million, while total income increased 49.92% y-o-y basis to Rs 3.82 billion for the quarter ended March 2016.

Recent Developments
11-APR-17
Gujarat Industries Power Company (GIPCL) has commissioned 12.6 MW (6 WTGs x 2.1 MW) Wind Turbine Generators (WTGs) of the Kuchhdi Wind Farm site, Porbandar district

17-MAR-17
Gujarat Industries Power Company (GIPCL), engaged in business of electrical power generation, has commissioned 21.0 MW (10 WTGs X 2.1 MW) Wind Turbine Generators (WTGs)

14-FEB-17
Gujarat Industries Power Company (GIPCL) has commissioned two more Wind Turbine Generators (WTGs) of 1.5 MW each located at the Kotadapitha Wind

01-FEB-17
Gujarat Industries Power Company (GIPCL) engaged in business of electrical power generation has signed Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for the balance 27.3 MW (2.1 MW x 13 WTGs), out of the 50.4 (2.1MW x 24 WTGs) Wind Power Project at the Kuchhdi Site under the Letter of Intent dated February 12, 2016 issued to Suzlon Energy.

31-JAN-17
Gujarat Industries Power Company engaged in business of electrical power generation, announced that GIPCL has commissioned 8.0 MW (4 WTGs x 2 MW) WTGs of the Rojmal Wind Farm Site for which Certificate of Commissioning has been issued by Gujarat Energy Development Agency (GEDA).

20-DEC-16
Gujarat Industries Power Company (GIPCL) engaged in business of electrical power generation, announced that GIPCL has signed Power Purchase Agreements (PPA) for a period of twenty five years with Gujarat Urja Vikas Nigam

08-DEC-16
Gujarat Industries Power Company (GIPCL) engaged in business of electrical power generation has commissioned two more Wind Turbine Generators (WTGs) of 1.5 MW each at Kotadapitha village, Babra taluka, Amreli district in state of Gujarat. Gujarat Energy Development Agency (GEDA) has issued Certificate of Commissioning of the said WTGs.

08-DEC-16
Gujarat Industries Power Company (GIPCL) engaged in business of electrical power generation, announced that GIPCL has signed Power Purchase Agreement (PPA) with Gujarat Urja Vikas Nigam (GUVNL) for 23.1 MW (2.1 MW x 11 WEGs) Wind Power Project at Kuchhdi Site, Dist.: Porbandar, under the Letter of Intent dated February 12, 2016 for installation of 50.4 MW (2.1 MW x 24 WEGs) Wind Farm capacity issued to Suzlon Energy.



In Brief

 
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