Godawari Power Q4FY21 results: Profit rises 788% YoY to Rs 304 crore

The Iron Ore Company Godawari Power & Ispat Ltd (GPIL) has reported a 788.4 per cent YoY rise in the consolidated profit at Rs 304.01 crore for the quarter ended March 31, 2021, mainly on the back of higher revenues. It had posted a profit of Rs 34.22 crore in the corresponding quarter last year.

The consolidated revenue from operations grew 59.8 per cent to Rs 1,262.25 crore as compared to Rs 790.06 crore posted last year.

EBITDA - a metric used to evaluate a company's operating performance – stood at Rs 489.6 crore, up 214.7 per cent as compared to Rs 155.6 crore posted last year. The margin improved to 38.8 per cent in Q4FY21 as against 19.7 per cent posted in Q4FY20.

The Board of Directors of the Company has recommended the payment of Final Dividend of Rs 13.50 (i.e. 135 per cent) per equity share of Rs 10 each for the FY 2020-21 on the entire paid up share capital of the Company of 3,52,36,247 equity shares of the nominal value of Rs 10 each in addition to Interim Dividend of Rs 5 (i.e. 50 per cent) per equity share of Rs 10 each.

The board also approved a proposal to set up a captive solar PV power plant of 250 MW capacity in the Raigarh district of Chhattisgarh at an estimated cost of Rs 750 crore. The project shall be funded mainly out of internal accruals. The power generated in this project shall be captively consumed in the company's plant at Silatra Industrial Area, Raipur, Chhattisgarh.