|
Gujarat Gas consolidated net sales declined 28.38% to Rs
3684.29 crore in Q3FY23 compared to Q2FY22.
Operating profit margin has jumped from 4.62% to 15.81%, leading to
145.20% rise in operating profit to Rs 582.32 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 90.72% to 76.78%. Employee cost increased from 0.91% to
1.32%. Other expenses rose from 3.76%
to 6.11%.
Other income fell 9.43% to Rs 31.99 crore. PBIDT rose 125.18% to Rs 614.31 crore. Provision for interest fell 45.43% to Rs 7.64
crore.
PBDT rose 134.41% to Rs 606.67 crore. Provision for depreciation rose 12.78% to Rs
109.27 crore.
Profit before tax grew 207.19% to Rs 497.40 crore. Share of profit/loss was 68.04% lower at Rs
0.31 crore. Provision for tax was
expense of Rs 126.14 crore, compared to Rs 39.95 crore. Effective tax rate was 25.34% compared to
24.53%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 202.24% to Rs 371.57 crore.
Promoters’ stake was 60.89% as of 31 December 2022 ,compared
to 60.89% as of 31 December 2021.
The company registered average gas volumes of 7.29 mmscmd
for the quarter – 4.05 mmscmd for Industrial, 2.43 mmscmd for CNG, 0.67 mmscmd
for PNG- domestic and 0.14 for PNG- commercial.
During the quarter, the Company added 48,600 new domestic
customers, 228 commercial customers, commissioned 49 new industrial customers
and crossed the landmark of 750 stations by adding 12 new CNG stations. As on
31st December 2022, the company has a signed volume of 5,25,000 scmd yet to be
commissioned.
The company has successfully commissioned the country`s
first pilot project of blending green hydrogen with piped natural gas for the
domestic customers in collaboration with NTPC
For
year-to-date (YTD) results analysis
Net sales (including other operating income) of Gujarat Gas
has increased 8.86% to Rs 12830.83 crore.
Operating profit margin has jumped from 11.70% to 14.28%, leading to
32.84% rise in operating profit to Rs 1,831.67 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 82.45% to 79.45%. Employee cost decreased from 1.20% to
1.14%. Other expenses rose from 4.66%
to 5.14%.
Other income fell 5% to Rs 69.54 crore. PBIDT rose 30.93% to Rs 1901.21 crore. Provision for interest fell 19.05% to Rs 34.3
crore.
PBDT rose 32.43% to Rs 1866.91 crore. Provision for depreciation rose 12.72% to Rs
318.84 crore.
Profit before tax grew 37.38% to Rs 1,548.07 crore. Share of profit/loss was 1.95% higher at Rs
1.57 crore. Provision for tax was
expense of Rs 391.76 crore, compared to Rs 285.41 crore. Effective tax rate was 25.28% compared to
25.29%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 37.36% to Rs 1,157.88 crore.
Promoters’ stake was 60.89% as of 31 December 2022 ,compared
to 60.89% as of 31 December 2021 .
The scrip trades at around Rs 484.
|
Gujarat Gas : Consolidated Results
|
|
Particulars
|
2212
(03)
|
2112
(03)
|
Var.(%)
|
2212
(09)
|
2112
(09)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Net
Sales
|
3,684.29
|
5,144.43
|
-28
|
12,830.83
|
11,786.83
|
9
|
16,456.22
|
9,866.45
|
67
|
|
OPM
(%)
|
15.8
|
4.6
|
|
14.3
|
11.7
|
|
12.6
|
21.1
|
|
|
OP
|
582.32
|
237.49
|
145
|
1,831.67
|
1,378.87
|
33
|
2,076.30
|
2,084.20
|
0
|
|
Other
Inc.
|
31.99
|
35.32
|
-9
|
69.54
|
73.2
|
-5
|
90.87
|
71.58
|
27
|
|
PBIDT
|
614.31
|
272.81
|
125
|
1,901.21
|
1,452.07
|
31
|
2,167.17
|
2,155.78
|
1
|
|
Interest
|
7.64
|
14
|
-45
|
34.3
|
42.37
|
-19
|
56.82
|
116.76
|
-51
|
|
PBDT
|
606.67
|
258.81
|
134
|
1,866.91
|
1,409.70
|
32
|
2,110.35
|
2,039.02
|
4
|
|
Depreciation
|
109.27
|
96.89
|
13
|
318.84
|
282.85
|
13
|
384.91
|
343.56
|
12
|
|
PBT
|
497.4
|
161.92
|
207
|
1548.07
|
1126.85
|
37
|
1725.44
|
1695.46
|
2
|
|
Share
of Profit/(Loss) from Associates
|
0.31
|
0.97
|
-68
|
1.57
|
1.54
|
2
|
1.62
|
2.11
|
-23
|
|
PBT
before EO
|
497.71
|
162.89
|
206
|
1549.64
|
1128.39
|
37
|
1727.06
|
1697.57
|
2
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
-11.9
|
0
|
-
|
|
PBT
after EO
|
497.71
|
162.89
|
206
|
1549.64
|
1128.39
|
37
|
1715.16
|
1697.57
|
1
|
|
Taxation
|
126.14
|
39.95
|
216
|
391.76
|
285.41
|
37
|
427.79
|
427.18
|
0
|
|
PAT
|
371.57
|
122.94
|
202
|
1157.88
|
842.98
|
37
|
1287.37
|
1270.39
|
1
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
371.57
|
122.94
|
202
|
1157.88
|
842.98
|
37
|
1287.37
|
1270.39
|
1
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
18.8
|
18.5
|
|
|
Notes
|
|
*
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
|
|