Gujarat Industries Power Company Awards Major Contract for BESS; Releases Q1 FY26-27 Unaudited Results
Gujarat Industries Power Company Limited (GIPCL) announced the award of a significant contract valued at Rs. 239.25 Crores for the development and commissioning of a Battery Energy Storage System (BESS). The company also released its Standalone Unaudited Financial Results (UFR) for the First Quarter (Q1) of the financial year 2026-27, which ended on June 30, 2026.The Board of Directors held a meeting on August 11, 2026, and approved several key outcomes, including the UFR for Q1 FY 2026-27, the notice convening the 41st Annual General Meeting, and the Business Responsibility and Sustainability Report (BRSR) for the Financial Year (FY) 2025-26.
Major Contract Awarded to Bondada Engineering Limited
GIPCL awarded a contract worth Rs. 239.25 Crores to M/s Bondada Engineering Limited, Hyderabad. The scope of work includes design, engineering, supply and procurement, civil and structural works, erection, testing, and commissioning for the Battery Energy Storage System (BESS). The BESS has a rated capacity of 20mw/120mwh at the point of injection (132kv GIPCL substation) in Vadodara.The contract details provided for the awarded work are as follows:
| Aspect | Details |
|---|---|
| Entity Awarded To | M/s Bondada Engineering Limited, Hyderabad (Domestic) |
| Scope of Work | Design, engineering, supply & procurement, civil & structural works, erection including testing, commissioning including O&M for ten years. |
| Contract Value | EPC Contract: Rs. 219.87 Crores (inclusive GST @18%) |
| Operational Cost | Total comprehensive O&M contract value: Rs. 19.37 Crores (inclusive GST @18%) for a period of 10 years. |
Financial Highlights for Q1 FY 2026-27
The Company's Standalone Unaudited Financial Results reflect the company’s operational performance for the quarter ending June 30, 2026. The results were reviewed by the Audit Committee and recommended for release by the Board of Directors.Total Income for the quarter stood at 61,130.95 Rs. in Lakhs. This included Revenue from Operation of 49,927.77 and Other Income of 11,203.18. Total Expenses were recorded at 40,012.59 Rs. in Lakhs. Profit before tax was reported at 21,118.36 Rs. in Lakhs.
Key financial performance data is presented below:
| Particulars | Quarter ended 30.06.2026 (Unaudited) | Quarter ended 31.03.2026 (Limited Review) | Corresponding Quarter ended 30.06.2025 (Unaudited) | Previous year ended 31.03.2026 (Audited) |
|---|---|---|---|---|
| Revenue from Operation | 49,927.77 | 42,826.13 | 37,152.31 | 1,49,112.30 |
| Other Income | 11,203.18 | 4,232.07 | 1,929.09 | 9,510.81 |
| Total Income | 61,130.95 | 47,058.20 | 39,081.40 | 1,58,623.11 |
| Total Expenses | 40,012.59 | 37,271.81 | 31,148.95 | 1,34,156.58 |
| Profit before tax | 21,118.36 | 9,786.39 | 7,932.45 | 24,466.53 |
| Profit for the period/year (V-VI) | 15,789.70 | 32,684.73 | 5,746.63 | 40,240.72 |
The results include a Total Comprehensive Income of 16,182.43 Rs. in Lakhs for the period. Earnings per equity share (Basic and Diluted) were reported at 10.17 Rs.
Audit and Governance Matters
The Limited Review Report on the Interim Unaudited Financial Results was provided by M/s K C Mehta & Co. LLP, Vadodara. The company confirmed that its management is responsible for preparing the statement in accordance with Indian Accounting Standard (Ind AS) 34 "Interim Financial Reporting."Other approved matters included the reconstitution of various committees as per the board meeting outcome. The Audit Committee was composed of directors including Shri Prabhat Singh and Dr. Mamata Biswal, while the Nomination & Remuneration Committee featured Shri Nitin Chandrashanker Shukla as Chairperson.
GIPCL Stock Price Movement
Today, Gujarat Industries Power Company Limited shares edged higher in afternoon trading, closing at ₹164.64 after gaining 0.16%. The stock saw significant activity, recording a traded volume of 421,246 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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