|
Gujarat Gas consolidated net sales increased 9.70% to Rs
3976.46 crore in Q2FY23 compared to Q2FY22.
Operating profit margin has jumped from 11.56% to 16.16%, leading to
53.40% rise in operating profit to Rs 642.74 crore. Raw material cost as a % of total sales (net
of stock adjustments) decreased from 82.40% to 77.15%. Employee cost increased from 1.23% to
1.27%. Other expenses rose from 4.82%
to 5.41%.
Other income rose 4.21% to Rs 18.55 crore. PBIDT rose 51.40% to Rs 661.29 crore. Provision for interest rose 5.65% to Rs 13.09
crore.
PBDT rose 52.73% to Rs 648.2 crore. Provision for depreciation rose 12.39% to Rs
106.41 crore.
Profit before tax grew 64.32% to Rs 541.79 crore. Share of profit/loss was 700% higher at Rs
0.48 crore. Provision for tax was
expense of Rs 137.86 crore, compared to Rs 84.3 crore. Effective tax rate was 25.42% compared to
25.56%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 64.74% to Rs 404.41 crore.
Equity capital stood at Rs 137.68 crore as of 30 September
2022 to Rs 137.68 crore as of 30 September 2021. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 60.89% as of 30 September 2022
,compared to 60.89% as of 30 September 2021 .
The company registered average gas volumes of 7.62 mmscmd
for the quarter – 4.47 mmscmd for Industrial, 2.32 mmscmd for CNG, 0.69 mmscmd
for PNG- domestic and 0.14 for PNG- commercial. The company`s total gas sales
volume declined due to shutdown of Tiles and Ceramic units.
For
year-to-date (YTD) results analysis
Net sales of Gujarat Gas have increased 38.05% to Rs 9146.54
crore. Operating profit margin has
declined from 17.27% to 13.66%, leading to 9.22% rise in operating profit to Rs
1,249.35 crore. Raw material cost as a %
of total sales (net of stock adjustments) increased from 76.06% to 80.53%. Employee cost decreased from 1.43% to
1.07%. Other expenses fell from 5.25%
to 4.74%.
Other income fell 7.26% to Rs 37.55 crore. PBIDT rose 8.66% to Rs 1286.9 crore. Provision for interest fell 5.26% to Rs 26.66
crore.
PBDT rose 8.99% to Rs 1260.24 crore. Provision for depreciation rose 13.77% to Rs
209.57 crore.
Profit before tax grew 8.09% to Rs 1,050.67 crore. Share of profit/loss was 121.05% higher at Rs
1.26 crore. Provision for tax was
expense of Rs 265.62 crore, compared to Rs 246.79 crore. Effective tax rate was 25.25% compared to
25.37%.
Minority interest was nil in both the periods. Net profit attributable to owners of the
company increased 8.33% to Rs 786.31 crore.
Equity capital stood at Rs 137.68 crore as of 30 September
2022 to Rs 137.68 crore as of 30 September 2021. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 60.89% as of 30 September 2022 compared
to 60.89% as of 30 September 2021 .
Full year
results analysis
Net sales of Gujarat Gas have increased 66.79% to Rs
16456.22 crore. Operating profit margin
has declined from 21.12% to 12.62%, leading to 0.38% decline in operating
profit to Rs 2,076.30 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
70.92% to 81.66%. Employee cost
decreased from 1.80% to 1.16%. Other
expenses fell from 6.16% to 4.57%.
Other income rose 26.95% to Rs 90.87 crore. PBIDT rose 0.53% to Rs 2167.17 crore. Provision for interest fell 51.34% to Rs
56.82 crore. Loan funds declined from Rs
982.58 crore as of 31 March 2021 to Rs 628.85 crore as of 31 March 2022. Inventories rose to Rs 53.39 crore as of 31
March 2022 from Rs 52.48 crore as of 31 March 2021. Sundry debtors were higher at Rs 930.05 crore
as of 31 March 2022 compared to Rs 774.74 crore as of 31 March 2021. Cash and bank balance declined from Rs 321.20
crore as of 31 March 2021 to Rs 21.30 crore as of 31 March 2022. Investments rose to Rs 52.03 crore as of 31
March 2022 from Rs 47.80 crore as of 31 March 2021 .
PBDT rose 3.50% to Rs 2110.35 crore. Provision for depreciation rose 12.04% to Rs
384.91 crore. Fixed assets increased to
Rs 7,193.19 crore as of 31 March 2022 from Rs 6,369.85 crore as of 31 March
2021. Intangible assets increased from
Rs 401.95 crore to Rs 430.31 crore.
Profit before tax grew 1.77% to Rs 1,725.44 crore. Share of profit/loss was 23.22% lower at Rs
1.62 crore. Provision for tax was
expense of Rs 427.79 crore, compared to Rs 427.18 crore. Effective tax rate was 24.94% compared to
25.16%.
Net profit attributable to owners of the company increased
1.34% to Rs 1,287.37 crore.
The company registered average gas volumes of 10.7 mmscmd
for FY22- 7.91 mmscmd for Industrial, 1.99 mmscmd for CNG, 0.68 mmscmd for PNG-
domestic and 0.12 for PNG- commercial.
Equity capital stood at Rs 137.68 crore as of 31 March 2022
to Rs 137.68 crore as of 31 March 2021.
Per share face Value remained same at Rs 2.00.
Promoters’ stake was 60.89% as of 31 March 2022 compared to
60.89% as of 31 March 2021.
Cash flow from operating activities increased to Rs 1,661.74
crore for year ended March 2022 from Rs 1,658.78 crore for year ended March
2021. Cash flow used in acquiring fixed
assets during the year ended March 2022 stood at Rs 1,366.30 crore, compared to
Rs 755.56 crore during the year ended March 2021.
The scrip trades at around Rs 483.
|
Gujarat Gas : Consolidated Results
|
|
Particulars
|
2209
(03)
|
2109
(03)
|
Var.(%)
|
2209
(06)
|
2109
(06)
|
Var.(%)
|
2203
(12)
|
2103
(12)
|
Var.(%)
|
|
Net
Sales
|
3,976.46
|
3,624.87
|
10
|
9,146.54
|
6,625.39
|
38
|
16,456.22
|
9,866.45
|
67
|
|
OPM
(%)
|
16.2
|
11.6
|
|
13.7
|
17.3
|
|
12.6
|
21.1
|
|
|
OP
|
642.74
|
418.99
|
53
|
1,249.35
|
1,143.90
|
9
|
2,076.30
|
2,084.20
|
0
|
|
Other
Inc.
|
18.55
|
17.8
|
4
|
37.55
|
40.49
|
-7
|
90.87
|
71.58
|
27
|
|
PBIDT
|
661.29
|
436.79
|
51
|
1,286.90
|
1,184.39
|
9
|
2,167.17
|
2,155.78
|
1
|
|
Interest
|
13.09
|
12.39
|
6
|
26.66
|
28.14
|
-5
|
56.82
|
116.76
|
-51
|
|
PBDT
|
648.2
|
424.4
|
53
|
1,260.24
|
1,156.25
|
9
|
2,110.35
|
2,039.02
|
4
|
|
Depreciation
|
106.41
|
94.68
|
12
|
209.57
|
184.21
|
14
|
384.91
|
343.56
|
12
|
|
PBT
|
541.79
|
329.72
|
64
|
1050.67
|
972.04
|
8
|
1725.44
|
1695.46
|
2
|
|
Share
of Profit/(Loss) from Associates
|
0.48
|
0.06
|
700
|
1.26
|
0.57
|
121
|
1.62
|
2.11
|
-23
|
|
PBT
before EO
|
542.27
|
329.78
|
64
|
1051.93
|
972.61
|
8
|
1727.06
|
1697.57
|
2
|
|
EO
Income
|
0
|
0
|
-
|
0
|
0
|
-
|
-11.9
|
0
|
-
|
|
PBT
after EO
|
542.27
|
329.78
|
64
|
1051.93
|
972.61
|
8
|
1715.16
|
1697.57
|
1
|
|
Taxation
|
137.86
|
84.3
|
64
|
265.62
|
246.79
|
8
|
427.79
|
427.18
|
0
|
|
PAT
|
404.41
|
245.48
|
65
|
786.31
|
725.82
|
8
|
1287.37
|
1270.39
|
1
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
404.41
|
245.48
|
65
|
786.31
|
725.82
|
8
|
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
|
|