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Gujarat Gas

₹599.8 -8.3 | 1.4%

Market Cap ₹41286 Cr.

Stock P/E 36.1

P/B 5.3

Current Price ₹599.8

Book Value ₹ 112.2

Face Value 2

52W High ₹648.4

Dividend Yield 0.94%

52W Low ₹ 397.2

Gujarat Gas Research see more...

Overview Inc. Year: 2012Industry: Gas Transmission/Marketing

Gujarat Gas Limited is an India-based organization this is engaged in natural gas business. The natural gas enterprise entails distribution of gasoline from sources of deliver to centers of demand and to end customers. It is engaged in city gas distribution, inclusive of sale, buy, deliver, distribution, transport, trading in natural gasoline, CNG, LNG, LPG and other gaseous form via pipelines, trucks/trains or such other suitable mode for transportation/distribution of natural gas, CNG, LNG, LPG and different gaseous form. It resources PNG for domestic usage to approximately 16.50 lakh households across its running places. The HAPi pipeline is designed, constructed, owned and operated by using the Company, which is about 73.2 kilometers (km) lengthy and approximately 18-inch diameter natural fuel pipeline. It has approximately 653 CNG stations and 32,000 km of naural gas pipeline community.

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Gujarat Gas Share Price

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Gujarat Gas Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 5241 4773 5303 4108 3821 4074 3924 3991 4084 4294
Other Income 35 18 19 19 32 32 24 28 23 31
Total Income 5276 4791 5322 4126 3853 4106 3948 4019 4107 4325
Total Expenditure 5004 4076 4697 3465 3239 3514 3536 3495 3684 3703
Operating Profit 273 715 626 661 614 592 412 525 424 622
Interest 14 14 14 13 8 6 7 8 7 7
Depreciation 97 102 103 106 109 109 115 118 120 121
Exceptional Income / Expenses 0 -12 0 0 0 0 0 0 0 56
Profit Before Tax 162 587 509 542 497 477 289 399 296 550
Provision for Tax 40 142 128 138 126 107 74 103 76 140
Profit After Tax 122 444 381 404 371 369 215 296 220 410
Adjustments 1 0 1 0 0 1 1 0 1 1
Profit After Adjustments 123 444 382 404 372 371 216 296 221 410
Adjusted Earnings Per Share 1.8 6.5 5.5 5.9 5.4 5.4 3.1 4.3 3.2 6

Gujarat Gas Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 9006 6106 5093 6174 7754 10300 9866 16456 16759 16293
Other Income 107 45 26 36 112 84 72 91 101 106
Total Income 9113 6150 5119 6210 7866 10384 9938 16547 16861 16399
Total Expenditure 7899 5376 4340 5269 6758 8653 7765 14355 14341 14418
Operating Profit 1214 774 779 941 1108 1731 2173 2192 2520 1983
Interest 334 250 218 206 208 205 134 82 67 29
Depreciation 238 245 257 272 288 318 344 385 428 474
Exceptional Income / Expenses -1 -26 0 0 -18 0 0 -12 0 56
Profit Before Tax 641 256 305 464 596 1208 1698 1715 2028 1534
Provision for Tax 198 66 84 172 177 9 427 428 499 393
Profit After Tax 444 190 221 292 418 1199 1270 1287 1528 1141
Adjustments 19 0 0 0 0 0 0 0 0 3
Profit After Adjustments 463 190 221 292 418 1199 1270 1287 1528 1143
Adjusted Earnings Per Share 6.7 2.8 3.2 4.2 6.1 17.4 18.5 18.7 22.2 16.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 2% 18% 22% 0%
Operating Profit CAGR 15% 13% 22% 0%
PAT CAGR 19% 8% 39% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 27% -4% 28% NA%
ROE Average 24% 27% 29% 23%
ROCE Average 32% 32% 29% 23%

Gujarat Gas Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 2010 1523 1664 1866 2205 3317 4478 5630 7028
Minority's Interest 0 0 0 0 0 0 0 0 0
Borrowings 1491 1707 2291 2213 2089 1834 770 391 0
Other Non-Current Liabilities 953 1016 1020 1084 1186 954 978 1056 1096
Total Current Liabilities 2461 1823 1400 1498 1677 1819 2314 2511 2803
Total Liabilities 6915 6069 6375 6662 7158 7925 8539 9587 10927
Fixed Assets 4487 4673 4902 5093 5289 5584 6039 6630 7336
Other Non-Current Assets 796 930 947 869 832 901 1159 1567 1612
Total Current Assets 1632 466 527 700 1037 1440 1341 1390 1979
Total Assets 6915 6069 6375 6662 7158 7925 8539 9587 10927

Gujarat Gas Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 68 235 23 14 96 98 550 277 17
Cash Flow from Operating Activities 1094 637 701 785 964 1420 1659 1662 2375
Cash Flow from Investing Activities -365 375 -458 -430 -612 -466 -614 -1294 -1039
Cash Flow from Financing Activities -563 -1224 -251 -273 -349 -502 -1318 -628 -678
Net Cash Inflow / Outflow 166 -212 -9 82 3 451 -273 -260 658
Closing Cash & Cash Equivalent 235 23 14 96 98 549 277 17 675

Gujarat Gas Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 6.72 2.76 3.2 4.25 6.08 17.41 18.45 18.7 22.2
CEPS(Rs) 9.9 6.33 6.94 8.2 10.26 22.03 23.44 24.29 28.42
DPS(Rs) 1 0.5 0.6 0.8 1 1.25 2 2 6.65
Book NAV/Share(Rs) 29.19 22.13 24.17 27.11 32.03 48.19 65.04 81.78 102.09
Core EBITDA Margin(%) 12.12 11.68 14.36 14.28 12.51 15.65 20.9 12.52 13.97
EBIT Margin(%) 10.68 8.09 9.98 10.58 10.09 13.42 18.21 10.7 12.1
Pre Tax Margin(%) 7.02 4.1 5.82 7.32 7.48 11.48 16.88 10.22 11.72
PAT Margin (%) 4.85 3.04 4.21 4.61 5.26 11.39 12.63 7.67 8.83
Cash Profit Margin (%) 7.46 6.97 9.12 8.9 8.87 14.41 16.05 9.96 11.31
ROA(%) 6.42 2.93 3.55 4.49 6.06 15.9 15.43 14.2 14.9
ROE(%) 22.07 10.76 13.84 16.57 20.55 43.41 32.59 25.47 24.15
ROCE(%) 18.64 11.09 13.23 16.32 18.65 29.03 34.27 31.29 31.88
Receivable days 14.4 19.32 22.58 21.28 20.67 17.69 23.32 18.53 20.58
Inventory Days 1.64 2.41 2.89 2.83 2.89 2.01 1.79 1.15 1.21
Payable days 21.54 26.33 28.77 25.37 20.77 17.33 22.24 12.72 16.64
PER(x) 0 39.81 47.9 39.09 24.39 13.36 29.79 26.88 20.71
Price/Book(x) 0 4.97 6.35 6.12 4.63 4.83 8.45 6.15 4.5
Dividend Yield(%) 0 0.45 0.39 0.48 0.67 0.54 0.36 0.4 1.45
EV/Net Sales(x) 0.35 1.61 2.53 2.21 1.56 1.68 3.89 2.13 1.85
EV/Core EBITDA(x) 2.57 12.73 16.52 14.47 10.93 10 17.68 16 12.29
Net Sales Growth(%) 0 -32.21 -16.59 21.24 25.59 32.83 -4.21 66.79 1.84
EBIT Growth(%) 0 -48.2 3.4 28.27 19.82 75.88 29.65 -1.91 16.56
PAT Growth(%) 0 -57.16 16.08 32.57 43.09 186.49 5.97 1.34 18.72
EPS Growth(%) 0 -58.93 16.08 32.57 43.09 186.49 5.97 1.34 18.72
Debt/Equity(x) 1.61 1.55 1.42 1.25 1 0.6 0.2 0.09 0
Current Ratio(x) 0.66 0.26 0.38 0.47 0.62 0.79 0.58 0.55 0.71
Quick Ratio(x) 0.65 0.23 0.35 0.43 0.58 0.77 0.56 0.53 0.68
Interest Cover(x) 2.92 2.02 2.4 3.25 3.87 6.89 13.64 22 31.37
Total Debt/Mcap(x) 0 0.31 0.22 0.2 0.22 0.12 0.02 0.01 0

Gujarat Gas Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 60.89 60.89 60.89 60.89 60.89 60.89 60.89 60.89 60.89 60.89
FII 7.72 5.98 5.18 5.03 5.17 4.67 4.47 3.8 3.34 3.72
DII 8.03 9.53 10.01 20.12 19.55 20.29 20.29 20.1 20.99 22.05
Public 23.36 23.6 23.91 13.96 14.38 14.15 14.35 15.2 14.77 13.33
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 39% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 27%
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 12.72 to 16.64days.
  • Stock is trading at 5.3 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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