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.
Motilal Oswal Report
Indraprastha Gas Ltd. reported better-than-estimated volumes (2.7 million metric standard cubic meter per day), but Ebitda came in lower than estimated (at Rs 834 million).
The gross margin expanded to Rs 13.7/standard cubic meter, but higher opex of Rs 10.4/scm resulted in a lower Ebitda/scm margin of Rs 3.4.
Recently in an Interview, AK Jana – Managing Director of Indraprastha Gas stated that compressed natural gas (CNG) and piped natural gas (PNG) industrial volumes had recovered to 80% of pre-Covid-19 levels.
Although, we believe that virtual connect has drastically impacted intra-city/intrastate travel. Schools are shut and commercial segment is down with dubiety on people returning to restaurants and malls.
All of these factors have led to a huge impact on demand for fuels (CNG and PNG – commercial).
Thus, the entire chain needs to be up and running to bring back normalcy in volumes, and in turn, stable volume consumption.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR