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Results
12-May-23
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Analysis
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Gujarat State Petronet
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OP down 4% NP up 11%
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Gujarat State Petronet standalone net sales
increased 2.28% to Rs 443.01 crore in Q4FY23 compared to Q4FY22. Operating profit margin has declined from
70.69% to 66.53%, leading to 3.74% decline in operating profit to Rs 294.72
crore. Employee cost increased from
3.35% to 3.64%. Other expenses rose
from 25.96% to 26.26%. Other direct
service cost rose from 13.89% to 15.57%.
Other income up 643.21% to Rs 47.64
crore. PBIDT rose 9.53% to Rs 342.36
crore. Provision for interest fell
70.38% to Rs 1.01 crore.
PBDT rose 10.41% to Rs 341.35 crore. Provision for depreciation down 2.23% to Rs
48.28 crore.
Profit before tax grew 12.81% to Rs 293.07
crore. Provision for tax was expense of
Rs 68.74 crore, compared to Rs 57.73 crore.
Effective tax rate was 23.46% compared to 22.22%.
Profit after tax rose 11.03% to Rs 224.33
crore.
Equity capital stood at Rs 564.21 crore as of
31 March 2023 to Rs 564.21 crore as of 31 March 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 37.63% as of 31 March
2023 ,compared to 37.63% as of 31 March 2022 .
Full year results
analysis
Net sales (including other operating income)
of Gujarat State Petronet has declined 12.78% to Rs 1,761.80 crore. Operating profit margin has jumped from
69.19% to 71.44%, leading to 9.94% decline in operating profit to Rs 1,258.68
crore. Employee cost increased from
3.23% to 4.10%. Other expenses fell
from 27.58% to 23.56%. Other direct
service cost fell from 17.87% to 13.30%.
Other income up 61.16% to Rs 168.41
crore. PBIDT fell 4.99% to Rs 1427.09
crore. Provision for interest fell
85.05% to Rs 4.68 crore. Loan funds declined
from Rs 95.44 crore as of 31 March 2022 to Rs 8.34 crore as of 31 March
2023. Inventories rose to Rs 212.09
crore as of 31 March 2023 from Rs 189.03 crore as of 31 March 2022. Sundry debtors were higher at Rs 144.05 crore
as of 31 March 2023 compared to Rs 129.51 crore as of 31 March 2022. Cash and bank balance rose to Rs 691.67 crore
as of 31 March 2023 from Rs 86.41 crore as of 31 March 2022. Investments declined from Rs 5,173.69 crore
as of 31 March 2022 to Rs 5,169.97 crore as of 31 March 2023.
PBDT fell 3.29% to Rs 1422.41 crore. Provision for depreciation down 1.09% to Rs
193.86 crore. Fixed assets increased to
Rs 3,436.01 crore as of 31 March 2023 from Rs 3,434.64 crore as of 31 March
2022. Intangible assets increased from
Rs 143.91 crore to Rs 144.89 crore.
Profit before tax down 3.63% to Rs 1,228.55
crore. Provision for tax was expense of
Rs 283.6 crore, compared to Rs 295.78 crore.
Effective tax rate was 23.08% compared to 23.20%.
Profit after tax fell 3.48% to Rs 944.95 crore.
Equity capital stood at Rs 564.21 crore as of
31 March 2023 to Rs 564.21 crore as of 31 March 2022. Per share face Value remained same at Rs
10.00.
Promoters’ stake was 37.63% as of 31 March
2023 compared to 37.63% as of 31 March 2022 .
Cash flow from
operating activities decreased to Rs 966.42 crore for year ended March 2023
from Rs 1,072.68 crore for year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 198.18 crore, compared to Rs 77.89
crore during the year ended March 2022.
The
scrip is currently trading at Rs 288
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Gujarat State Petronet : Standalone
Results
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Particulars
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2303
(03)
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2203
(03)
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Var.(%)
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2303
(12)
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2203
(12)
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Var.(%)
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Net
Sales
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443.01
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433.12
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2
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1,761.80
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2,020.02
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-13
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OPM
(%)
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66.5
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70.7
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71.4
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69.2
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OP
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294.72
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306.16
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-4
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1,258.68
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1,397.62
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-10
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Other
Inc.
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47.64
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6.41
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643
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168.41
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104.5
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61
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PBIDT
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342.36
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312.57
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10
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1,427.09
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1,502.12
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-5
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Interest
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1.01
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3.41
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-70
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4.68
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31.3
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-85
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PBDT
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341.35
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309.16
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10
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1,422.41
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1,470.82
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-3
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Depreciation
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48.28
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49.38
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-2
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193.86
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195.99
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-1
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PBT
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293.07
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259.78
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13
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1228.55
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1274.83
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-4
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PBT
before EO
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293.07
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259.78
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13
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1228.55
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1274.83
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-4
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EO
Income
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0
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0
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-
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0
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0
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-
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PBT
after EO
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293.07
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259.78
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13
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1228.55
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1274.83
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-4
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Taxation
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68.74
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57.73
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19
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283.6
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295.78
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-4
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PAT
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224.33
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202.05
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11
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944.95
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979.05
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-3
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EPS
(Rs)*
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#
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#
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16.8
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17.4
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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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EO
: Extraordinary items
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Figures
in Rs crore
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Source:
Capitaline Corporate Database
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