Gujarat Gas Q4 Review - Remains Well Placed To Grow: Prabhudas Lilladher

A liquefied natural gas pipeline. (Photographer: Tomohiro Ohsumi/Bloomberg).

Gujarat Gas Q4 Review - Remains Well Placed To Grow: Prabhudas Lilladher

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Prabhudas Lilladher Report

We change our FY22/23E earnings of Gujarat Gas Ltd. by down 4%/up 3% to factor in near term volume impact due to pandemic concerns and even increase our FY23E estimates.

We remain constructive on the company's volume prospects as imposition of 200- 350% import duty on Chinese imports to U.S. has helped domestic exporters in Morbi, which is India’s ceramic hub and accounts for over 60% of the company volumes.

The company reported results higher than our estimates with Ebitda of Rs 5.5 billion (down 10% QoQ; our estimate Rs 5.2 billion) and profit after tax of Rs 3.5 billion (down 11% QoQ; our estimate Rs 3.2 billion).

Click on the attachment to read the full report:

Prabhudas Lilladher Gujarat Gas Q4FY21 Result Update.pdf


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