Gujarat State Petronet Q4 Review - Near Term Volume Weakness Behind Us: Motilal Oswal

Gujarat State Petronet Gas pipelines. (Source: Company website).

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.

Click on the attachment to read the full report:

Motilal Oswal Gujarat State Petronet Q4FY21 Result Update.pdf

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