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.
Motilal Oswal Report
Gujarat Gas Ltd. reported a beat on our numbers, driven by better-than estimated Ebitda/standard cubic meter (Rs 5.1) and volume growth (up 22% YoY to 12.1 million metric standard cubic meter per day).
Morbi volumes stood at 7.3mmscmd (up 33% YoY), while compressed natural gas achieved highest ever quarterly volumes.
Pivotal was addition of 150 new CNG stations in FY21 totaling to 559 CNG outlets (versus Indraprastha Gas Ltd.’s 573 stations).
The company indicated total volumes in Q1 FY22-to-date stands at ~10mmscmd (with the recent month’s volumes at ~9mmsmcd) – amid the second Covid-19 wave impact.
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