Gujarat State Petronet Q4 Review - Near Term Volume Weakness Behind Us: Motilal Oswal
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Motilal Oswal Report
Gujarat State Petronet Ltd. reported an in line Q4 FY21.
Transmission volumes at 33.8 million metric standard cubic meter per day, with implied tariff at Rs 1,277/million standard cubic meter.
Volumes were impacted by an abrupt spurt in spot liquefied natural gas prices to $20-30/metric million British thermal unit in January-February 2021, which primarily impacted power sector demand (down 48% QoQ).
As per our interaction, current volumes stand ~36mmscmd.
The company expects a revival of 1-2mmsmcd in volumes over the next couple of days from city gas distributions as lockdown restrictions are eased.
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