ICICI Securities Limited
Gujarat Pipavav Port's (GPPL) container volumes grew 13% YoY. Bulk and RoRo volumes de-grew 18%, and 6% mainly due to lower growth in the fertiliser volumes and weak consumer demand, respectively, while liquid volumes grew 25%. This led overall revenue to remain flat YoY. Subsequently, EBITDA margins increased 576 bps mainly due to Ind-AS 116 adjustment of | 5.1 crore in the operating expense element. However, PAT grew 20% YoY mainly due to higher other income (includes dividend from subsidiary PRCL). The management expects the macro situation to remain...
Gujarat Pipavav Port Ltd. is trading above its 100 day SMA of 144.4
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