|
Gujarat State Petronet consolidated net sales
increased 67.26% to Rs 5490.43 crore in Q3FY22 compared to Q3FY21. Operating profit margin has declined from
31.05% to 10.62%, leading to 42.79% decline in operating profit to Rs 583.10
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 57.50% to 82.73%. Employee cost decreased from 1.83% to
1.28%. Other expenses fell from 9.62%
to 5.39%. Other direct service cost
fell from 3.68% to 1.31%.
Other income rose 49.01% to Rs 35.45 crore. PBIDT
fell 40.70% to Rs 618.55 crore.
Provision for interest fell 51.10% to Rs 25.23 crore. PBDT fell 40.16% to Rs 593.32 crore. Provision for depreciation rose 6.43% to Rs
145.89 crore. Profit before tax down
47.63% to Rs 447.43 crore. Share of
profit/loss was 144.92% higher at Rs 31.57 crore. Provision for tax was expense of Rs 128.04
crore, compared to Rs 217.05 crore.
Effective tax rate was 26.73% compared to 25.03%.
Minority interest decreased 68.66% to Rs
56.36 crore. Net profit attributable to
owners of the company decreased 37.38% to Rs 294.60 crore.
Promoters’ stake was
37.63% as of 31 December 2021 compared to 37.63% as of 31 December 2020.
For year-to-date (YTD) results analysis
Net sales of Gujarat State Petronet have
increased 67.35% to Rs 13000.6 crore.
Operating profit margin has declined from 34.40% to 19.15%, leading to
6.85% decline in operating profit to Rs 2,489.49 crore. Raw material cost as a % of total sales (net
of stock adjustments) increased from 52.19% to 71.89%. Employee cost decreased from 2.26% to
1.48%. Other expenses fell from 11.14%
to 7.49%. Other direct service cost
fell from 3.81% to 2.31%.
Other income rose 22.67% to Rs 82.53
crore. PBIDT fell 6.12% to Rs 2572.02
crore. Provision for interest fell
52.86% to Rs 87.71 crore. PBDT fell
2.72% to Rs 2484.31 crore. Provision for
depreciation rose 5.79% to Rs 428.39 crore.
Profit before tax down 4.32% to Rs 2,055.92
crore. Share of profit/loss was 356.12%
higher at Rs 74.85 crore. Provision for
tax was expense of Rs 539.27 crore, compared to Rs 550.3 crore. Effective tax rate was 25.31% compared to
25.42%.
Minority interest decreased 8.42% to Rs
389.04 crore. Net profit attributable to
owners of the company increased 1.04% to Rs 1,202.46 crore.
Promoters’ stake was
37.63% as of 31 December 2021 compared to 37.63% as of 31 December 2020.
Full year results analysis
Net sales (including
other operating income) of Gujarat State Petronet has declined 5.78% to Rs
11535.36 crore. Operating profit margin
has jumped from 26.32% to 30.99%, leading to 10.90% rise in operating profit to
Rs 3,574.34 crore. Raw material cost as
a % of total sales (net of stock adjustments) decreased from 60.92% to 57.10%.
Employee cost increased from 1.94% to 2.05%.
Other expenses fell from 10.82% to 9.87%.Other direct service cost fell
from 4.20% to 3.18%.
Other income fell
15.36% to Rs 91.12 crore. Provision for interest fell 38.60% to Rs 226.58
crore. Loan funds declined from Rs
2,378.49 crore as of 31 March 2020 to Rs 1,519.82 crore as of 31 March
2021. Inventories rose to Rs 182.10
crore as of 31 March 2021 from Rs 172.39 crore as of 31 March 2020. Sundry debtors were higher at Rs 906.20 crore
as of 31 March 2021 compared to Rs 655.32 crore as of 31 March 2020. Cash and bank balance declined from Rs 789.77
crore as of 31 March 2020 to Rs 408.92 crore as of 31 March 2021. Investments rose to Rs 1,456.75 crore as of
31 March 2021 from Rs 1,023.04 crore as of 31 March 2020 .
Provision for
depreciation rose 4.59% to Rs 541.78 crore.
Fixed assets increased to Rs 9,928.11 crore as of 31 March 2021 from Rs
9,565.91 crore as of 31 March 2020.
Intangible assets increased from Rs 496.94 crore to Rs 522.34
crore.
Profit before tax
grew 18.56% to Rs 2,897.10 crore.
Provision for tax was expense of Rs 743.18 crore, compared to Rs 158.91
crore. Effective tax rate was 25.32%
compared to 6.52%.
Minority interest
increased 6.58% to Rs 585.64 crore. Net profit attributable to owners of the
company decreased 7.08% to Rs 1,606.77 crore.
Promoters’ stake was
37.63% as of 31 March 2021 compared to 37.64% as of 31 March 2020.
Cash flow from
operating activities increased to Rs 2,897.30 crore for year ended March 2021
from Rs 2,770.88 crore for year ended March 2020. Cash flow used in acquiring fixed assets
during the year ended March 2021 stood at Rs 856.68 crore, compared to Rs 702.78
crore during the year ended March 2020.
The
scrip is currently trading at Rs 298
|
Gujarat State Petronet :
Consolidated Results
|
|
Particulars
|
2112 (03)
|
2012 (03)
|
Var.(%)
|
2109 (09)
|
2009 (09)
|
Var.(%)
|
2103 (12)
|
2003 (12)
|
Var.(%)
|
|
Net
Sales
|
5,490.83
|
3,282.56
|
67
|
13,000.60
|
7,768.41
|
67
|
11,535.36
|
12,243.61
|
-6
|
|
OPM
(%)
|
10.6
|
31.1
|
|
19.1
|
34.4
|
|
30.99
|
26.3
|
|
|
OP
|
583.10
|
1,019.30
|
-43
|
2,489.49
|
2,672.53
|
-7
|
3,574.34
|
3,223.04
|
11
|
|
Other
Inc.
|
35.45
|
23.79
|
49
|
82.53
|
67.28
|
23
|
91.12
|
107.65
|
-15
|
|
PBIDT
|
618.55
|
1,043.09
|
-41
|
2,572.02
|
2,739.81
|
-6
|
3,665.46
|
3,330.69
|
10
|
|
Interest
|
25.23
|
51.59
|
-51
|
87.71
|
186.06
|
-53
|
226.58
|
369.02
|
-39
|
|
PBDT
|
593.32
|
991.50
|
-40
|
2,484.31
|
2,553.75
|
-3
|
3,438.88
|
2,961.67
|
16
|
|
Depreciation
|
145.89
|
137.08
|
6
|
428.39
|
404.95
|
6
|
541.78
|
518.01
|
5
|
|
PBT
|
447.43
|
854.42
|
-48
|
2,055.92
|
2,148.80
|
-4
|
2,897.10
|
2,443.66
|
19
|
|
Share
of Profit/(Loss) from Associates
|
31.57
|
12.89
|
145
|
74.85
|
16.41
|
356
|
38.49
|
-6.12
|
LP
|
|
PBT
before EO
|
479.00
|
867.31
|
-45
|
2,130.77
|
2,165.21
|
-2
|
2935.59
|
2437.54
|
20
|
|
EO
Income
|
0.00
|
0.00
|
|
0.00
|
0.00
|
|
0
|
0
|
-
|
|
PBT
after EO
|
479.00
|
867.31
|
-45
|
2,130.77
|
2,165.21
|
-2
|
2935.59
|
2437.54
|
20
|
|
Taxation
|
128.04
|
217.05
|
-41
|
539.27
|
550.30
|
-2
|
743.18
|
158.91
|
368
|
|
PAT
|
350.96
|
650.26
|
-46
|
1,591.50
|
1,614.91
|
-1
|
2192.41
|
2278.63
|
-4
|
|
Minority
Interest (MI)
|
56.36
|
179.81
|
-69
|
389.04
|
424.82
|
-8
|
585.64
|
549.46
|
7
|
|
Net
profit
|
294.60
|
470.45
|
-37
|
1,202.46
|
1,190.09
|
1
|
1606.77
|
1729.17
|
-7
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
28.5
|
30.7
|
|
|
Notes
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|
*
EPS is on current equity of Rs 564.21 crore, Face value of Rs 10, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|