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

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.

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

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 author entity 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.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.