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Gujarat State
Petronet consolidated net sales increased 127.51% to Rs 3425.05 crore in Q1FY22
compared to Q1FY21. Operating profit
margin has slumped from 35.55% to 32.15%, leading to 105.76% rise in operating
profit to Rs 1,101.22 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
45.70% to 56.77%. Employee cost
decreased from 3.72% to 1.85%. Other
expenses fell from 15.02% to 9.23%.
Other direct service cost fell from 4.09% to 2.56%.
Other income rose
31.95% to Rs 24.2 crore. Provision for
interest fell 50.77% to Rs 35.41 crore.
Provision for depreciation rose 5.39% to Rs 139.07 crore.
Profit before tax
grew 171.98% to Rs 950.94 crore.
Provision for tax was expense of Rs 244.02 crore, compared to Rs 92.95
crore. Effective tax rate was 25.11%
compared to 27.25%.
Minority interest
increased 707.09% to Rs 218.48 crore.
Net profit attributable to owners of the company increased 130.46% to Rs
509.46 crore.
Promoters’ stake was
37.63% as of 30 June 2021 ,compared to 37.63% as of 30 June 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 Board of
Directors of the company have recommended dividend of Rs. 2.00 (@ 20 %) per
share of Rs. 10/- each on equity shares of the company for the financial year
2020-21, subject to the approval of shareholders in ensuing Annual General
Meeting
The
scrip is currently trading at Rs 324
|
Gujarat State Petronet : Consolidated Results
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Particulars
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2106 (03)
|
2006 (03)
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Var.(%)
|
2103 (12)
|
2003 (12)
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Var.(%)
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Net
Sales
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3,425.05
|
1,505.42
|
20
|
11,535.36
|
12,243.61
|
-6
|
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OPM
(%)
|
32.2
|
35.6
|
|
30.99
|
26.3
|
|
|
OP
|
1,101.22
|
535.19
|
15
|
3,574.34
|
3,223.04
|
11
|
|
Other
Inc.
|
24.20
|
18.34
|
-4
|
91.12
|
107.65
|
-15
|
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PBIDT
|
1,125.42
|
553.53
|
14
|
3,665.46
|
3,330.69
|
10
|
|
Interest
|
35.41
|
71.93
|
-49
|
226.58
|
369.02
|
-39
|
|
PBDT
|
1,090.01
|
481.61
|
21
|
3,438.88
|
2,961.67
|
16
|
|
Depreciation
|
139.07
|
131.96
|
3
|
541.78
|
518.01
|
5
|
|
PBT
|
950.94
|
349.65
|
25
|
2,897.10
|
2,443.66
|
19
|
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Share
of Profit/(Loss) from Associates
|
21.02
|
-8.56
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LP
|
38.49
|
-6.12
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LP
|
|
PBT
before EO
|
971.96
|
341.09
|
29
|
2935.59
|
2437.54
|
20
|
|
EO
Income
|
0.00
|
0.00
|
-
|
0
|
0
|
-
|
|
PBT
after EO
|
971.96
|
341.09
|
29
|
2935.59
|
2437.54
|
20
|
|
Taxation
|
244.02
|
92.95
|
91
|
743.18
|
158.91
|
368
|
|
PAT
|
727.95
|
248.14
|
16
|
2192.41
|
2278.63
|
-4
|
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Minority
Interest (MI)
|
218.48
|
27.07
|
40
|
585.64
|
549.46
|
7
|
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Net
profit
|
509.46
|
221.06
|
9
|
1606.77
|
1729.17
|
-7
|
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EPS
(Rs)*
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#
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#
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28.5
|
30.7
|
|
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Notes
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*
EPS is on current equity of Rs 564.21 crore, Face value of Rs 10, Excluding
extraordinary items.
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#
EPS is not annualised
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bps
: Basis points
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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