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Gujarat State Petronet consolidated net sales
declined 25.80% to Rs 4108.33 crore in Q1FY24 compared to Q1FY23. Operating profit margin has jumped from
17.58% to 17.80%, leading to 24.88% decline in operating profit to Rs 731.33
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 75.55% to 72.53%. Employee cost increased from 1.11% to
1.66%. Other expenses rose from 5.77%
to 8.01%. Other direct service cost
rose from 1.12% to 1.16%.
Other income rose 84.67% to Rs 40.35
crore. PBIDT fell 22.47% to Rs 771.68
crore. Provision for interest fell
31.82% to Rs 14.61 crore.
PBDT fell 22.27% to Rs 757.07 crore. Provision for depreciation rose 7.13% to Rs
161.37 crore.
Profit before tax down 27.65% to Rs 595.70
crore. Provision for tax was expense of
Rs 151.61 crore, compared to Rs 207.15 crore.
Effective tax rate was 25.89% compared to 24.22%.
Minority interest decreased 43.45% to Rs
98.99 crore. Net profit attributable to
owners of the company decreased 29.19% to Rs 335.04 crore.
Promoters’ stake was 37.63% as of 30 June
2023 ,compared to 37.63% as of 30 June 2022 .
Full year results
analysis
Net sales (including other operating income)
of Gujarat State Petronet has increased 0.70% to Rs 18116.59 crore.
Operating profit margin has jumped from
19.45% to 20.31%, leading to 5.13% rise in operating profit to Rs 3,679.64
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 72.00% to 71.12%. Employee cost increased from 1.42% to
1.48%. Other expenses fell from 7.13%
to 7.09%. Other direct service cost
fell from 2.01% to 1.29%.
Other income rose 25.97% to Rs 133
crore. PBIDT rose 5.74% to Rs 3812.64
crore. Provision for interest fell
37.28% to Rs 70.11 crore. Loan funds
declined from Rs 712.84 crore as of 31 March 2022 to Rs 149.39 crore as of 31
March 2023. Inventories rose to Rs
273.27 crore as of 31 March 2023 from Rs 242.42 crore as of 31 March 2022. Sundry debtors were higher at Rs 1,141.38
crore as of 31 March 2023 compared to Rs 1,038.67 crore as of 31 March
2022. Cash and bank balance rose to Rs
1,372.63 crore as of 31 March 2023 from Rs 107.73 crore as of 31 March
2022. Investments declined from Rs
1,670.00 crore as of 31 March 2022 to Rs 1,621.39 crore as of 31 March
2023.
PBDT rose 7.12% to Rs 3742.53 crore. Provision for depreciation rose 7.09% to Rs
620.52 crore. Fixed assets increased to
Rs 11,242.88 crore as of 31 March 2023 from Rs 10,616.98 crore as of 31 March
2022. Intangible assets increased from
Rs 574.42 crore to Rs 646.75 crore.
Profit before tax grew 7.12% to Rs 3,122.01
crore. Share of profit/loss was 94.84%
lower at Rs 2.79 crore. Provision for
tax was expense of Rs 782.79 crore, compared to Rs 725.58 crore. Effective tax rate was 25.05% compared to
24.54%.
Minority interest increased 18.19% to Rs
700.51 crore. Net profit attributable to
owners of the company increased 0.20% to Rs 1,641.50 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 increased to Rs 3,340.03 crore for year ended March 2023
from Rs 2,745.54 crore for year ended March 2022. Cash flow used in acquiring fixed assets
during the year ended March 2023 stood at Rs 1,278.02 crore, compared to Rs
1,289.23 crore during the year ended March 2022.
The
scrip is currently trading at Rs 275
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Gujarat State Petronet :
Consolidated Results
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Particulars
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2306
(03)
|
2206
(03)
|
Var.(%)
|
2303
(12)
|
2203
(12)
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Var.(%)
|
|
Net
Sales
|
4,108.33
|
5,536.46
|
-26
|
18,116.59
|
17,990.84
|
1
|
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OPM
(%)
|
17.8
|
17.58
|
|
20.31
|
19.45
|
|
|
OP
|
731.33
|
973.54
|
-25
|
3,679.64
|
3,500.10
|
5
|
|
Other
Inc.
|
40.35
|
21.85
|
85
|
133
|
105.58
|
26
|
|
PBIDT
|
771.68
|
995.39
|
-22
|
3,812.64
|
3,605.68
|
6
|
|
Interest
|
14.61
|
21.43
|
-32
|
70.11
|
111.78
|
-37
|
|
PBDT
|
757.07
|
973.96
|
-22
|
3,742.53
|
3,493.90
|
7
|
|
Depreciation
|
161.37
|
150.63
|
7
|
620.52
|
579.46
|
7
|
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PBT
|
595.7
|
823.33
|
-28
|
3122.01
|
2914.44
|
7
|
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Share
of Profit/(Loss) from Associates
|
-10.06
|
31.99
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PL
|
2.79
|
54.04
|
-95
|
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PBT
before EO
|
585.64
|
855.32
|
-32
|
3124.8
|
2968.48
|
5
|
|
EO
Income
|
0
|
0
|
-
|
0
|
-11.9
|
-
|
|
PBT
after EO
|
585.64
|
855.32
|
-32
|
3124.8
|
2956.58
|
6
|
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Taxation
|
151.61
|
207.15
|
-27
|
782.79
|
725.58
|
8
|
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PAT
|
434.03
|
648.17
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-33
|
2342.01
|
2231
|
5
|
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Minority
Interest (MI)
|
98.99
|
175.04
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-43
|
700.51
|
592.72
|
18
|
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Net
profit
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335.04
|
473.13
|
-29
|
1641.5
|
1638.28
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0
|
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EPS
(Rs)*
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#
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#
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|
29.09
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29.15
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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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