BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Gujarat State Petronet Ltd. reported volumes of 33.3 million metric standard cubic meter per day (mmscmd) beat our estimate 32.5 mmscmd, however declined 13/10% YoY/QoQ, due to Covid-19 lockdown.
While offtake from city gas distribution/fertiliser/refining/petrochemicals/others segments remained weak, offtake from power grew sharply offsetting this weakness to some extent.
With a recovery in volumes expected over H2 FY21E and strong tariffs, we remain positive on earnings prospects over FY20-22E, with the boost from subsidiary Gujarat Gas Ltd. an important support to overall .
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