|
Gujarat State
Petronet consolidated net sales increased 37.06% to Rs 4085.12 crore in Q2FY22
compared to Q2FY21. Operating profit
margin has declined from 37.51% to 19.71%, leading to 27.98% decline in
operating profit to Rs 805.18 crore. Raw
material cost as a % of total sales (net of stock adjustments) increased from
49.62% to 69.99%. Employee cost
decreased from 2.00% to 1.45%. Other
expenses fell from 10.86% to 8.87%.
Other direct service cost fell from 3.81% to 3.45%.
Other income fell
9.03% to Rs 22.88 crore. PBIDT fell
27.56% to Rs 828.06 crore. Provision for
interest fell 56.70% to Rs 27.08 crore.
PBDT fell 25.88% to
Rs 800.98 crore. Provision for
depreciation rose 5.54% to Rs 143.44 crore.
Profit before tax down 30.40% to Rs 657.54 crore. Share of profit/loss was 84.35% higher at Rs
22.27 crore. Provision for tax was
expense of Rs 167.21 crore, compared to Rs 240.29 crore. Effective tax rate was 24.60% compared to
25.11%.
Minority interest
decreased 47.60% to Rs 114.20 crore. Net
profit attributable to owners of the company decreased 20.09% to Rs 398.40
crore.
Equity capital
increased from Rs 564.20 crore as of 30 September 2020 to Rs 564.21 crore as of
30 September 2021. Per share face Value
remained same at Rs 10.00.
Promoters’ stake was 37.63%
as of 30 September 2021 compared to 37.63% as of 30 September 2020 .
For year-to-date (YTD) results analysis
Net sales of Gujarat
State Petronet have increased 67.42% to Rs 7510.17 crore. Operating profit margin has declined from
36.85% to 25.38%, leading to 15.31% rise in operating profit to Rs 1,906.38
crore. Raw material cost as a % of total
sales (net of stock adjustments) increased from 48.31% to 63.96%. Employee cost
decreased from 2.58% to 1.63%. Other expenses fell from 12.26% to 9.03%. Other
direct service cost fell from 3.90% to 3.04%.
Other income rose
8.23% to Rs 47.08 crore. PBIDT rose
15.13% to Rs 1953.46 crore. Provision
for interest fell 53.53% to Rs 62.49 crore.
PBDT rose 21.04% to Rs 1890.97 crore.
Provision for depreciation rose 5.46% to Rs 282.5 crore.
Profit before tax
grew 24.27% to Rs 1,608.47 crore. Share
of profit/loss was 1,129.83% higher at Rs 43.29 crore. Provision for tax was expense of Rs 411.22
crore, compared to Rs 333.24 crore.
Effective tax rate was 24.90% compared to 25.68%.
Minority interest
increased 35.78% to Rs 332.68 crore. Net
profit attributable to owners of the company increased 26.15% to Rs 907.86
crore.
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 324
|
Gujarat State Petronet :
Consolidated Results
|
|
Particulars
|
2109 (03)
|
2009 (03)
|
Var.(%)
|
2109 (06)
|
2009 (06)
|
Var.(%)
|
2103 (12)
|
2003 (12)
|
Var.(%)
|
|
Net
Sales
|
4,085.12
|
2,980.43
|
37
|
7,510.17
|
4,485.85
|
67
|
11,535.36
|
12,243.61
|
-6
|
|
OPM
(%)
|
19.7
|
37.5
|
|
25.4
|
36.9
|
|
30.99
|
26.3
|
|
|
OP
|
805.18
|
1,118.01
|
-28
|
1,906.38
|
1,653.20
|
15
|
3,574.34
|
3,223.04
|
11
|
|
Other
Inc.
|
22.88
|
25.15
|
-9
|
47.08
|
43.50
|
8
|
91.12
|
107.65
|
-15
|
|
PBIDT
|
828.06
|
1,143.16
|
-28
|
1,953.46
|
1,696.70
|
15
|
3,665.46
|
3,330.69
|
10
|
|
Interest
|
27.08
|
62.54
|
-57
|
62.49
|
134.46
|
-54
|
226.58
|
369.02
|
-39
|
|
PBDT
|
800.98
|
1,080.62
|
-26
|
1,890.97
|
1,562.24
|
21
|
3,438.88
|
2,961.67
|
16
|
|
Depreciation
|
143.44
|
135.91
|
6
|
282.50
|
267.87
|
5
|
541.78
|
518.01
|
5
|
|
PBT
|
657.54
|
944.71
|
-30
|
1,608.47
|
1,294.37
|
24
|
2,897.10
|
2,443.66
|
19
|
|
Share
of Profit/(Loss) from Associates
|
22.27
|
12.08
|
84
|
43.29
|
3.52
|
999
|
38.49
|
-6.12
|
LP
|
|
PBT
before EO
|
679.81
|
956.79
|
-29
|
1,651.76
|
1,297.89
|
27
|
2935.59
|
2437.54
|
20
|
|
EO
Income
|
0.00
|
0.00
|
|
0.00
|
0.00
|
|
0
|
0
|
-
|
|
PBT
after EO
|
679.81
|
956.79
|
-29
|
1,651.76
|
1,297.89
|
27
|
2935.59
|
2437.54
|
20
|
|
Taxation
|
167.21
|
240.29
|
-30
|
411.22
|
333.24
|
23
|
743.18
|
158.91
|
368
|
|
PAT
|
512.60
|
716.50
|
-28
|
1,240.54
|
964.65
|
29
|
2192.41
|
2278.63
|
-4
|
|
Minority
Interest (MI)
|
114.20
|
217.93
|
-48
|
332.68
|
245.01
|
36
|
585.64
|
549.46
|
7
|
|
Net
profit
|
398.40
|
498.57
|
-20
|
907.86
|
719.64
|
26
|
1606.77
|
1729.17
|
-7
|
|
EPS
(Rs)*
|
#
|
#
|
|
#
|
#
|
|
28.5
|
30.7
|
|
|
Notes
|
|
*
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
|
|