BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Gujarat Gas Ltd. has hiked compressed natural gas price by Rs 2.5/kg to partly pass on administrative price mechanism gas price rise on October 01 and gas price for industrial consumers by Rs 9.5/ standard cubic meter (25%) to pass on spot liquefied natural gas surge; Gujarat Gas had hiked prices for industrial consumers by 13% on August 24, 2021.
At futures as of October 05, 2021, average spot LNG is at $34/ metric million British thermal unit in October 2021-March 2022.
The company’s FY22E margin would depend on its industrial sales volumes in H2 FY22E; for volumes in excess of six million metric standard cubic meter per day, Gujarat Gas would have to buy very expensive spot LNG, which would hit its margins.
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