|
Consolidated net sales (including
other operating income) of Gujarat Gas has increased 17.69% to Rs 4450.3
crore.
Operating profit margin has jumped
from 10.26% to 12.04%, leading to 38.05% rise in operating profit to Rs 535.64
crore. Raw material cost as a % of total
sales (net of stock adjustments) decreased from 81.83% to 80.65%. Employee cost decreased from 1.37% to
1.10%. Other expenses fell from 6.54%
to 6.23%.
Other income rose 61.64% to Rs 38.55
crore. PBIDT rose 39.42% to Rs 574.19
crore. Provision for interest rose 5.69%
to Rs 7.8 crore.
PBDT rose 40.03% to Rs 566.39
crore. Provision for depreciation rose
6.93% to Rs 123.09 crore.
Profit before tax grew 53.20% to Rs
443.30 crore. Share of profit/loss was
8.14% higher at Rs 0.93 crore. Provision
for tax was expense of Rs 113.52 crore, compared to Rs 74.27 crore. Effective tax rate was 25.55% compared to
25.59%.
Minority interest was nil in both
the periods. Net profit attributable to
owners of the company increased 53.14% to Rs 330.71 crore. Reduction in spot gas prices and increase in
volumes led to increase in profits in Q1 FY25 compared to Q1FY24.
For the quarter ended on 30th June
2024, the Company`s sales volumes increased by 19% to 10.98 mmscmd from 9.22
mmscmd during quarter ended on 30th June 2023. The industrial sales volumes
increased to 7.25 mmscmd for quarter ended 30th June 2024 from 5.88 mmscmd for
quarter ended 30th June 2023, an increase of 23%.
The Compressed Natural Gas (CNG)
category continues to witness strong momentum, as the consumers are benefitting
from favourable government policies which has supported in terms of volume
growth.
During the quarter, the Company
added more than -37,400 new domestic customers. Volume of -2,00,000 scmd is
added due to commissioning of new industrial customers. Moreover, as on 30th
June 2024, the company has a signed volume of -6,30,000 scmd which will be
commissioned in coming days.
Promoters’ stake was 60.89% as of 30
June 2024 ,compared to 60.89% as of 30 June 2023 .
Full year results analysis
Net sales (including other operating
income) of Gujarat Gas has declined 6.38% to Rs 15690.19 crore. Operating
profit margin has declined from 14.27% to 11.96%, leading to 21.56% decline in
operating profit to Rs 1,876.38 crore.
Raw material cost as a % of total sales (net of stock adjustments)
increased from 79.20% to 80.02%.
Employee cost increased from 1.17% to 1.27%. Other expenses rose from 5.36% to
6.75%.
Other income rose 4.72% to Rs 106.11
crore. PBIDT fell 20.49% to Rs 1982.49
crore. Provision for interest fell
27.36% to Rs 29.31 crore. Loan funds
declined from Rs 152.32 crore as of 31 March 2023 to Rs 150.26 crore as of 31
March 2024. Inventories declined from Rs
61.18 crore as of 31 March 2023 to Rs 58.67 crore as of 31 March 2024. Sundry debtors were higher at Rs 1,029.84
crore as of 31 March 2024 compared to Rs 1,021.15 crore as of 31 March
2023. Cash and bank balance rose to Rs
926.12 crore as of 31 March 2024 from Rs 680.98 crore as of 31 March 2023. Investments rose to Rs 135.07 crore as of 31
March 2024 from Rs 30.41 crore as of 31 March 2023 .
PBDT fell 20.37% to Rs 1953.18
crore. Provision for depreciation rose
10.75% to Rs 474.3 crore. Fixed assets
increased to Rs 8,124.97 crore as of 31 March 2024 from Rs 7,819.11 crore as of
31 March 2023. Intangible assets
increased from Rs 501.67 crore to Rs 555.81 crore.
Profit before tax down 26.96% to Rs
1,478.88 crore. Share of profit/loss was
10.14% lower at Rs 2.57 crore. Provision
for tax was expense of Rs 393.44 crore, compared to Rs 499.19 crore. Effective tax rate was 25.60% compared to
24.62%.
Minority interest was nil in both
the periods. Net profit attributable to
owners of the company decreased 25.17% to Rs 1,143.70 crore.
Equity capital stood at Rs 137.68
crore as of 31 March 2024 to Rs 137.68 crore as of 31 March 2023. Per share face Value remained same at Rs
2.00.
Promoters’ stake was 60.89% as of 31
March 2024 ,compared to 60.89% as of 31 March 2023.
Cash flow from operating activities decreased to Rs 1,634.04
crore for year ended March 2024 from Rs 2,375.49 crore for year ended March
2023. Cash flow used in acquiring fixed
assets during the year ended March 2024 stood at Rs 837.14 crore, compared to
Rs 1,086.73 crore during the year ended March 2023.
The scrip trades at around Rs 641
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Gujarat Gas : Consolidated Results
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|
Particulars
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202406
|
202306
|
Var.(%)
|
202403
|
202303
|
Var.(%)
|
|
Net
Sales
|
4,450.30
|
3,781.51
|
18
|
15,690.19
|
16,759.40
|
-6
|
|
OPM
(%)
|
12
|
10
|
|
12
|
14
|
|
|
OP
|
535.64
|
388
|
38
|
1,876.38
|
2,391.99
|
-22
|
|
Other
Inc.
|
38.55
|
23.85
|
62
|
106.11
|
101.33
|
5
|
|
PBIDT
|
574.19
|
411.85
|
39
|
1,982.49
|
2,493.32
|
-20
|
|
Interest
|
7.8
|
7.38
|
6
|
29.31
|
40.35
|
-27
|
|
PBDT
|
566.39
|
404.47
|
40
|
1,953.18
|
2,452.97
|
-20
|
|
Depreciation
|
123.09
|
115.11
|
7
|
474.3
|
428.26
|
11
|
|
PBT
|
443.3
|
289.36
|
53
|
1478.88
|
2024.71
|
-27
|
|
Share
of Profit/(Loss) from Associates
|
0.93
|
0.86
|
8
|
2.57
|
2.86
|
-10
|
|
PBT
before EO
|
444.23
|
290.22
|
53
|
1481.45
|
2027.57
|
-27
|
|
EO
Income
|
0
|
0
|
-
|
55.69
|
0
|
-
|
|
PBT
after EO
|
444.23
|
290.22
|
53
|
1537.14
|
2027.57
|
-24
|
|
Taxation
|
113.52
|
74.27
|
53
|
393.44
|
499.19
|
-21
|
|
PAT
|
330.71
|
215.95
|
53
|
1143.7
|
1528.38
|
-25
|
|
Minority
Interest (MI)
|
0
|
0
|
-
|
0
|
0
|
-
|
|
Net
profit
|
330.71
|
215.95
|
53
|
1143.7
|
1528.38
|
-25
|
|
EPS
(Rs)*
|
|
|
|
16.01
|
22.2
|
|
|
Notes
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*
EPS is on current equity of Rs 137.68 crore, Face value of Rs 2, 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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