Gujarat Gas Proves To Be An Outperformer; Beat On All Fronts In Q3: Motilal Oswal 
Walkway platforms stand beside pipework on the European Gas Pipeline (Photographer: Krisztian Bocsi/Bloomberg)

Gujarat Gas Proves To Be An Outperformer; Beat On All Fronts In Q3: Motilal Oswal 

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Motilal Oswal Report

Gujarat Gas Ltd. continues to surprise on volumes growth (11.4 million metric standard cubic meter per day) and margin (Rs 5.8/ standard cubic meter), clocking better than expected Q3 FY21 earnings.

Realization remained strong at Rs 26.9/scm (down 8% YoY, down 3% QoQ), while opex was down 11% YoY at Rs 1.5/scm (down 7% QoQ).

As per our interaction with the management, Morbi volumes stood ~7mmscmd in Q3 FY21 (versus ~6.3mmscmd in Q2 FY21).

At present, total volumes are above 11.5mmscmd.

Click on the attachment to read the full report:

Motilal Oswal Gujarat Gas Q3FY21 Result Update.pdf


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