TheScreener - Gujarat Gas (GUJRATGAS) With a more favourable environment, GUJARAT GAS improves to Positive

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EUR 13.93 For Business Accounts Only

With a more favourable environment, GUJARAT GAS improves to Positive

GUJARAT GAS (IN), a company active in the Gas Distribution industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date December 3, 2021, the closing price was INR 662.40 and its potential was estimated at INR 771.23.

04/12/2021 1 EN

Underlying

Gujarat Gas

Gujarat Gas Ltd. Gujarat Gas Company Limited is an India-based company. The Company is engaged in Natural Gas Business in Gujarat. Natural gas business involves distribution of gas from sources of supply to centers of demand and to the end customers. The Company has underground pipe lines consists of mild steel (ME) and polyethylene (PE). These lines gas is supplied to Residential, Industrial, Commercial and Compressed Natural Gas (CNG). The Company also supplies piped natural gas to customers and retails compressed natural gas. Gas is used by customers for applications, such as heating, cooling, power and process. The Company has two subsidiaries namely Gujarat Gas Financial Services Limited and Gujaratgas Trading Company Limited.

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INE844O01030 National Stock Exchange of India India

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MOSL: GUJARAT GAS: Margin surprises; volumes dip, likely to remain muted ahead

GUJARAT GAS: Margin surprises; volumes dip, likely to remain muted ahead (GUJGA IN, Mkt Cap USD4b, CMP INR464, TP INR586, 26% Upside, Buy) Lower-than-estimated volumes resulted in lower-than-estimated spot/short-term cargoes, thereby reducing gas cost. As a result, GUJGA reported a beat on our EBITDA estimate, with higher EBITDA/scm (at INR6.8). Volumes stood at 9.8mmscmd (Morbi: ~4.7mmscmd) in 1QFY23 It is currently clocking volumes of ~9mmscmd. Of this, Morbi stands at 4.3mmscmd. LPG consumption at Morbi stands ~2mmscmd. Volumes are expected to decline further in Aug’22, led by plant sh...

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GUJARAT GAS: Ecstatic margins; unlikely to sustain (GUJGA IN, Mkt Cap USD7.2b, CMP INR772, TP INR860, 11% Upside, Buy) Gujarat Gas (GUJGA) reported a beat on our numbers, driven by better-than-estimated EBITDA/scm (INR7.9), while volumes were in-line (at 10mmscmd, with Morbi at 5.6mmscmd). The gross margin stood at INR10.4/scm (v/s our estimate of INR7.8), led by lower gas costs. In 1QFY22, GUJGA began procuring 1.33mmscmd of gas from the Barmer field in Rajasthan (in addition to 0.67mmscmd gas from the KG Basin in the previous quarter). Thus, long-term gas sourcing for the company stan...

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With a more favourable environment, GUJARAT GAS improves to Positive

Empowering Investors

MOSL: GUJARAT GAS: Margin surprises; volumes dip, likely to remain muted ahead

MOSL: GUJARAT GAS (Buy)-Ecstatic margins; unlikely to sustain

AC ENERGY CORP increases its risk exposure and slightly lowers to Neutral

With a more favourable environment, VUKILE PROPERTY improves to Positive

An unfavourable environment weighs on ROYAL BAFOKENG PLATINUM, which sees a downgrade to Slightly Negative

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