Gas Transmission/Marketing · Founded 2015 · www.rudragasenterprise.com · BSE 544121 · · ISIN INE0OYK01010
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Business
Rudra Gas Enterprise Ltd. operates in the natural gas sector in India, primarily focusing on gas transmission and marketing. The company's core business involves developing, owning, and operating gas pipeline infrastructure for the transportation of natural gas, as well as the sourcing, distribution, and sale of natural gas to various customer segments, which may include industrial, commercial, and domestic users. It generates revenue through charges for gas transmission (pipeline tariffs) and by earning margins on the trading and distribution of natural gas.
Revenue Mix
Specific detailed segment-wise revenue breakdown is not publicly available in the provided information. However, based on its industry classification, Rudra Gas Enterprise's revenue is primarily derived from two core activities: gas transmission services (charging for pipeline usage) and gas marketing activities (buying and selling natural gas).
Industry
The Indian gas transmission and marketing industry is a capital-intensive, regulated sector, driven by increasing energy demand and the government's push for a gas-based economy. The industry structure involves large infrastructure players operating national and regional pipelines, and city gas distribution (CGD) companies. Rudra Gas Enterprise Ltd. operates within this environment, likely participating in the development and operation of gas infrastructure and distribution networks. Its positioning would depend on the scale of its network, geographical reach, and customer base relative to larger, established players. The sector benefits from growing demand for cleaner fuels over traditional alternatives.
MOAT
The gas transmission and marketing business inherently possesses potential competitive advantages:
High Capital Expenditure: Building and maintaining gas pipeline infrastructure requires significant upfront investment, creating a barrier to entry for new competitors.
Regulatory Licenses & Approvals: Obtaining necessary licenses, permits, and right-of-way for pipeline networks is a complex and time-consuming process, limiting competition.
Network Effect/Scale: An established pipeline network offers economies of scale and often creates a natural monopoly or strong regional advantage once built, making it difficult for competitors to duplicate or connect to existing infrastructure.
Switching Costs: For industrial and commercial customers dependent on natural gas supply through existing pipelines, switching providers can involve high costs and operational disruptions.
Growth Drivers
Government Initiatives: The Indian government's focus on increasing the share of natural gas in the energy mix (e.g., target of 15% by 2030) drives demand for gas infrastructure and supply.
Expansion of CGD Networks: Ongoing and planned expansion of City Gas Distribution networks across various geographical areas in India will increase demand for natural gas transmission and distribution.
Industrial & Commercial Demand: Growing industrialization, urbanization, and the shift towards cleaner fuels by industries will boost demand for natural gas.
Pipeline Network Expansion: Development of new gas pipelines and interconnections will enhance reach and capacity, opening up new markets.
Availability of LNG: Increased global LNG supply and development of more LNG import terminals in India improve natural gas availability, supporting market growth.
Risks
Regulatory & Policy Risk: Changes in government policies, tariff regulations, gas allocation mechanisms, or pricing controls can significantly impact profitability.
Commodity Price Volatility: Fluctuations in international natural gas and crude oil prices can affect the cost of gas sourcing and impact demand, especially for price-sensitive customers.
Project Execution Risk: High capital expenditure projects face risks of delays, cost overruns, and issues in land acquisition or right-of-way.
Competition from Alternate Fuels: Competition from other energy sources like coal, fuel oil, electricity, and renewables could limit natural gas demand growth, especially if gas prices are high.
Geopolitical Factors: Global events can disrupt gas supply chains and impact international gas prices.
Environmental Regulations: Stricter environmental norms could lead to increased compliance costs.
Management & Ownership
Specific details about the management team's background or ownership structure (beyond the ticker 'RUDRAGAS' implying it's a publicly listed entity) are not provided. Like many Indian companies, it is likely promoted and significantly owned by a founding family or group with professional management overseeing day-to-day operations.
Outlook
Rudra Gas Enterprise Ltd. operates in a sector with significant long-term growth potential, driven by India's expanding energy needs and a strategic shift towards cleaner fuels. The government's strong support for a gas-based economy and ongoing infrastructure development projects provide a favorable environment for growth. However, the business is capital-intensive and exposed to regulatory uncertainties, commodity price volatility, and the inherent risks associated with large-scale infrastructure projects. Successful execution of expansion plans, efficient management of operating costs, and adaptability to evolving market dynamics and regulatory frameworks will be key to capitalizing on industry tailwinds.
Price goes above X
Price falls below X
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| #(Fig in Cr.) |
|---|
| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|
| Net Sales | 49 | 64 | 100 | |
| Other Income | 0 | 0 | 0 | |
| Total Income | 50 | 64 | 100 | |
| Total Expenditure | 42 | 54 | 88 | |
| Operating Profit | 7 | 10 | 13 | |
| Interest | 2 | 3 | 3 | |
| Depreciation | 1 | 1 | 1 | |
| Exceptional Income / Expenses | 0 | 0 | 0 | |
| Profit Before Tax | 5 | 6 | 9 | |
| Provision for Tax | 1 | 2 | 2 | |
| Profit After Tax | 4 | 5 | 6 | |
| Adjustments | 0 | -0 | -0 | |
| Profit After Adjustments | 4 | 5 | 6 | |
| Adjusted Earnings Per Share | 6.9 | 5.6 | 7.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 56% | 0% | 0% | 0% |
| Operating Profit CAGR | 30% | 0% | 0% | 0% |
| PAT CAGR | 20% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -30% | NA% | NA% | NA% |
| ROE Average | 22% | 32% | 32% | 32% |
| ROCE Average | 23% | 24% | 24% | 24% |
| #(Fig in Cr.) | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Shareholder's Funds | 8 | 26 | 32 |
| Minority's Interest | 0 | 0 | 0 |
| Borrowings | 4 | 4 | 5 |
| Other Non-Current Liabilities | 3 | 3 | 4 |
| Total Current Liabilities | 19 | 24 | 33 |
| Total Liabilities | 34 | 58 | 74 |
| Fixed Assets | 8 | 8 | 6 |
| Other Non-Current Assets | 2 | 2 | 3 |
| Total Current Assets | 24 | 47 | 65 |
| Total Assets | 34 | 58 | 74 |
| #(Fig in Cr.) | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 1 |
| Cash Flow from Operating Activities | -1 | -4 | -5 |
| Cash Flow from Investing Activities | -1 | -9 | 6 |
| Cash Flow from Financing Activities | 2 | 14 | -0 |
| Net Cash Inflow / Outflow | -0 | 1 | 1 |
| Closing Cash & Cash Equivalent | 0 | 1 | 2 |
| # | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Earnings Per Share (Rs) | 6.9 | 5.59 | 7.48 |
| CEPS(Rs) | 8.32 | 6.62 | 8.61 |
| DPS(Rs) | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 15.2 | 31.4 | 38.74 |
| Core EBITDA Margin(%) | 14.55 | 14.77 | 12.14 |
| EBIT Margin(%) | 13.4 | 13.98 | 11.72 |
| Pre Tax Margin(%) | 9.86 | 9.85 | 8.68 |
| PAT Margin (%) | 7.34 | 7.41 | 6.38 |
| Cash Profit Margin (%) | 8.84 | 8.66 | 7.18 |
| ROA(%) | 10.76 | 10.35 | 9.67 |
| ROE(%) | 45.41 | 27.68 | 21.81 |
| ROCE(%) | 26.1 | 24.61 | 22.71 |
| Receivable days | 61.54 | 72.26 | 68.08 |
| Inventory Days | 11.35 | 10.07 | 11.93 |
| Payable days | 242.5 | 249.09 | 131.68 |
| PER(x) | 0 | 29.95 | 10.61 |
| Price/Book(x) | 0 | 5.33 | 2.05 |
| Dividend Yield(%) | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.34 | 2.37 | 0.86 |
| EV/Core EBITDA(x) | 2.28 | 15.57 | 6.84 |
| Net Sales Growth(%) | 0 | 29.09 | 56.87 |
| EBIT Growth(%) | 0 | 34.67 | 31.54 |
| PAT Growth(%) | 0 | 30.47 | 34.89 |
| EPS Growth(%) | 0 | -19.06 | 33.89 |
| Debt/Equity(x) | 2.18 | 0.8 | 0.74 |
| Current Ratio(x) | 1.26 | 1.94 | 1.99 |
| Quick Ratio(x) | 1.18 | 1.85 | 1.85 |
| Interest Cover(x) | 3.79 | 3.39 | 3.85 |
| Total Debt/Mcap(x) | 0 | 0.15 | 0.36 |
| # | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 73.04 | 73.04 | 73.04 | 73.04 | 73.04 | 73.04 | 73.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.96 | 26.96 | 26.96 | 26.96 | 26.96 | 26.96 | 26.81 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +56% | — | — | — |
| Operating Profit CAGR | +30% | — | — | — |
| PAT CAGR | +20% | — | — | — |
| Share Price CAGR | -30% | — | — | — |
| ROE Average | +22% | +32% | +32% | +32% |
| ROCE Average | +23% | +24% | +24% | +24% |
| # | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 73.04 | 73.04 | 73.04 | 73.04 | 73.04 | 73.04 | 73.19 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.96 | 26.96 | 26.96 | 26.96 | 26.96 | 26.96 | 26.81 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|
| Promoter | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 | 0.61 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 | 0.22 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 | 0.83 |
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