Gujarat Industries Power Company Limited — Investor Meet, 15-07-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Gujarat Industries Power Co. discussed its Q4 & FY26 financial results. The 600 MW Khavda Solar project is operating at a 33% CUF, aiming for over 30% annually, with an expected FY27 revenue of around 420 Cr and EBITDA of 350-360 Cr. The remaining 500 MW Khavda Solar is nearing commissioning post-monsoon. Management projects a 950-1,000 Cr EBITDA for the entire portfolio once all projects are fully operational. Total debt is anticipated to reach 4,500 Cr after 500 MW commissioning. The company plans a 750 MW lignite thermal expansion by FY32-33 (6,000 Cr capex) and will convert stranded gas plants to 20/120 MW BESS units (250-300 Cr capex). GIPCL also plans an additional 200 MW solar capacity at Khavda. Management conveyed a positive outlook on demand and operational efficiency.