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Gujarat Gas consolidated net sales increased 81.58% to Rs
5144.43 crore in Q3FY22 compared to Q3FY21. Operating profit margin has
declined from 21.69% to 4.62%, leading to 61.35% decline in operating profit to
Rs 237.49 crore. Raw material cost as a
% of total sales (net of stock adjustments) increased from 71.09% to 90.72%. Employee
cost decreased from 1.56% to 0.91%. Other expenses fell from 5.66% to
3.76%.
Other income rose 85.80% to Rs 35.32 crore. PBIDT fell 56.93% to Rs 272.81 crore. Provision
for interest fell 42.72% to Rs 14 crore. PBDT fell 57.50% to Rs 258.81 crore. Provision
for depreciation rose 11.62% to Rs 96.89 crore.
Profit before tax down 68.99% to Rs 161.92 crore. Share of profit/loss was 708.33% higher at Rs
0.97 crore. Provision for tax was expense of Rs 39.95 crore compared to Rs
131.42 crore. Effective tax rate was
24.53% compared to 25.16%. Net profit attributable to owners of the company
decreased 68.55% to Rs 122.94 crore.
Promoters’ stake was 60.89% as of 31 December 2021 compared
to 60.89% as of 31 December 2020.
For year-to-date
(YTD) results analysis
Net sales of Gujarat Gas have increased 83.25% to Rs
11786.83 crore. Operating profit margin
has declined from 23.81% to 11.70%, leading to 9.97% decline in operating
profit to Rs 1,378.87 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
67.36% to 82.45%. Employee cost decreased from 2.08% to 1.20%. Other expenses
fell from 6.76% to 4.66%.
Other income rose 36.67% to Rs 73.2 crore. PBIDT fell 8.39%
to Rs 1452.07 crore. Provision for interest fell 57.04% to Rs 42.37 crore.
PBDT fell 5.16% to Rs 1409.7 crore. Provision for depreciation rose 10.51% to Rs
282.85 crore.
Profit before tax down 8.42% to Rs 1,126.85 crore. Share of profit/loss was 28.33% higher at Rs
1.54 crore. Provision for tax was
expense of Rs 285.41 crore, compared to Rs 309.63 crore. Effective tax rate was 25.29% compared to
25.14%.
Net profit attributable to owners of the company decreased
8.58% to Rs 842.98 crore.
Promoters’ stake was 60.89% as of 31 December 2021 compared
to 60.89% as of 31 December 2020.
Full year
results analysis
Net sales of Gujarat Gas declined 4.33% to Rs 9854.25 crore.
Operating profit margin has jumped from 15.87% to 21.19%, leading to 27.75%
rise in operating profit to Rs 2,087.82 crore.
Raw material cost as a % of total sales (net of stock adjustments) decreased
from 76.52% to 70.94%. Employee cost increased from 1.70% to 1.80%. Other
expenses rose from 5.91% to 6.08%.
The restrictions imposed to curb the outbreak of recent
COVID-19 wave had an impact in the natural gas demand mainly from CNG,
lndustrial and commercial categories. As restrictions are being lifted
gradually in many of company`s operating areas, natural gas demand is likely to
improve. The company`s gas sales volume till date in the FY22 stands close to
10 mmscmd as against average gas sales of 9.39 mmscmd in FY21.
Other income fell 11.60% to Rs 74.16 crore. Provision for interest fell 39.48% to Rs
116.31 crore. Loan funds declined from
Rs 1,891.38 crore as of 31 March 2020 to Rs 849.44 crore as of 31 March
2021. Inventories rose to Rs 52.21 crore
as of 31 March 2021 from Rs 46.26 crore as of 31 March 2020. Sundry debtors were higher at Rs 783.09 crore
as of 31 March 2021 compared to Rs 510.14 crore as of 31 March 2020. Cash and bank balance declined from Rs 694.07
crore as of 31 March 2020 to Rs 320.96 crore as of 31 March 2021. Investments rose to Rs 47.80 crore as of 31
March 2021 from Rs 43.21 crore as of 31 March 2020 .
Provision for depreciation rose 7.19% to Rs 340.84
crore. Fixed assets increased to Rs
6,301.67 crore as of 31 March 2021 from Rs 5,818.50 crore as of 31 March
2020. Intangible assets increased from
Rs 336.07 crore to Rs 351.85 crore.
Profit before tax grew 41.13% to Rs 1,704.83 crore. Provision for tax was expense of Rs 429.22
crore, compared to Rs 9.16 crore.
Effective tax rate was 25.15% compared to 0.76%.
Net profit attributable to owners of the company increased
6.58% to Rs 1,277.72 crore.
Promoters’ stake was 60.89% as of 31 March 2021 compared to
60.89% as of 31 March 2020.
Cash flow from operating activities increased to Rs 1,655.16
crore for year ended March 2021 from Rs 1,419.83 crore for year ended March
2020. Cash flow used in acquiring fixed
assets during the year ended March 2021 stood at Rs 751.32 crore, compared to
Rs 595.55 crore during the year ended March 2020.
Currently the shares of Gujarat Gas are quoting at around Rs
664 at BSE.
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Gujarat Gas : Consolidated Results
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Particulars
|
2112
(03)
|
2012
(03)
|
Var.(%)
|
2112
(09)
|
2012
(09)
|
Var.
(%)
|
2103
(12)
|
2003
(12)
|
Var.(%)
|
|
Net
Sales
|
5,144.43
|
2,833.12
|
82
|
11,786.83
|
6,432.23
|
83
|
9,866.45
|
10,300.34
|
-4
|
|
OPM
(%)
|
4.6
|
21.7
|
|
11.7
|
23.8
|
|
21.1
|
15.9
|
|
|
OP
|
237.49
|
614.46
|
-61
|
1,378.87
|
1,531.54
|
-10
|
2,084.20
|
1,634.27
|
28
|
|
Other
Inc.
|
35.32
|
19.01
|
86
|
73.2
|
53.56
|
37
|
71.58
|
83.89
|
-15
|
|
PBIDT
|
272.81
|
633.47
|
-57
|
1,452.07
|
1,585.10
|
-8
|
2,155.78
|
1,718.16
|
25
|
|
Interest
|
14
|
24.44
|
-43
|
42.37
|
98.63
|
-57
|
116.76
|
192.17
|
-39
|
|
PBDT
|
258.81
|
609.03
|
-58
|
1,409.70
|
1,486.47
|
-5
|
2,039.02
|
1,525.99
|
34
|
|
Depreciation
|
96.89
|
86.8
|
12
|
282.85
|
255.96
|
11
|
343.56
|
317.98
|
8
|
|
PBT
|
161.92
|
522.23
|
-69
|
1126.85
|
1230.51
|
-8
|
1695.46
|
1208.01
|
40
|
|
Share
of Profit/(Loss) from Associates
|
0.97
|
0.12
|
708
|
1.54
|
1.2
|
28
|
2.11
|
-0.03
|
LP
|
|
PBT
|
162.89
|
522.35
|
-69
|
1128.39
|
1231.71
|
-8
|
1697.57
|
1207.98
|
41
|
|
Taxation
|
39.95
|
131.42
|
-70
|
285.41
|
309.63
|
-8
|
427.18
|
9.16
|
999
|
|
PAT
|
122.94
|
390.93
|
-69
|
842.98
|
922.08
|
-9
|
1270.39
|
1198.82
|
6
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
18.5
|
17.4
|
|
|
Notes
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|
*
EPS is on current equity of Rs 137.68 crore, Face value of Rs 2, Excluding
extraordinary items.
|
|
#
EPS is not annualised
|
|
bps
: Basis points
|
|
EO
: Extraordinary items
|
|
Figures
in Rs crore
|
|
Source:
Capitaline Corporate Database
|
|