WEBSITE BSE:532702 NSE : GUJ PETRONET 26 Dec, 16:01
Market Cap ₹20529 Cr.
Stock P/E 9.4
P/B 1.8
Current Price ₹363.9
Book Value ₹ 198.3
Face Value 10
52W High ₹469.6
Dividend Yield 1.37%
52W Low ₹ 260.2
Gujarat State Petronet Limited (GSPL) is a natural gas infrastructure and transmission enterprise engaged in gas transportation business. The Company is engaged in transmission of natural gas through pipelines on an open access basis to foundation from deliver points to call for facilities. It additionally generates electricity thru windmills. Its segments consist of Gas Transportation and Windmill. It develops electricity transportation infrastructure and connects natural gasoline supply resources, such as LN terminals to various markets. It has installation of 52.5MW Wind Power Project at Maliya Miyana (District-Rajkot), Gorsar, and Adodar (District-Porbandar). Its subsidiaries consist of GSPL India Gasnet Ltd, that is engaged in development of Mehsana-Bhatinda and Bhatinda-Jammu-Srinagar pipeline initiatives, and GSPL India Transco Ltd, that is engaged inside the improvement of Mallavaram-Bhopal-Bhilwara-Vijaipur Pipeline Project. It serves diverse industries, together with power and fertilizer.
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| #(Fig in Cr.) | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 5670 | 4443 | 4135 | 4415 | 4251 | 4411 | 4544 | 4692 | 4892 | 4159 |
| Other Income | 22 | 24 | 42 | 45 | 40 | 45 | 42 | 59 | 69 | 76 |
| Total Income | 5691 | 4468 | 4177 | 4460 | 4291 | 4456 | 4587 | 4751 | 4961 | 4235 |
| Total Expenditure | 4696 | 3460 | 3275 | 3560 | 3526 | 3503 | 3757 | 3722 | 4055 | 3452 |
| Operating Profit | 995 | 1008 | 902 | 900 | 765 | 952 | 829 | 1029 | 906 | 782 |
| Interest | 21 | 20 | 15 | 6 | 8 | 8 | 14 | 8 | 8 | 8 |
| Depreciation | 151 | 155 | 158 | 157 | 161 | 165 | 168 | 169 | 171 | 179 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 56 | 0 | 0 |
| Profit Before Tax | 823 | 833 | 729 | 737 | 596 | 779 | 647 | 907 | 727 | 595 |
| Provision for Tax | 207 | 211 | 188 | 176 | 152 | 199 | 165 | 236 | 185 | 154 |
| Profit After Tax | 616 | 622 | 540 | 561 | 444 | 580 | 483 | 671 | 541 | 441 |
| Adjustments | -143 | -186 | -181 | -188 | -109 | -126 | -88 | -196 | -167 | -160 |
| Profit After Adjustments | 473 | 436 | 359 | 373 | 335 | 455 | 395 | 475 | 375 | 282 |
| Adjusted Earnings Per Share | 8.4 | 7.7 | 6.4 | 6.6 | 5.9 | 8.1 | 7 | 8.4 | 6.6 | 5 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 1051 | 1065 | 992 | 5901 | 7261 | 9345 | 12244 | 11535 | 17991 | 18117 | 17295 | 18287 |
| Other Income | 57 | 55 | 47 | 104 | 96 | 138 | 108 | 91 | 106 | 133 | 186 | 246 |
| Total Income | 1108 | 1120 | 1039 | 6005 | 7357 | 9483 | 12351 | 11626 | 18096 | 18250 | 17481 | 18534 |
| Total Expenditure | 122 | 149 | 126 | 4260 | 5217 | 6805 | 9021 | 7961 | 14491 | 14437 | 13887 | 14986 |
| Operating Profit | 986 | 971 | 913 | 1746 | 2140 | 2678 | 3331 | 3665 | 3606 | 3813 | 3594 | 3546 |
| Interest | 142 | 118 | 80 | 278 | 242 | 427 | 369 | 227 | 112 | 70 | 56 | 38 |
| Depreciation | 184 | 189 | 183 | 436 | 447 | 468 | 518 | 542 | 579 | 621 | 664 | 687 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -18 | 0 | 0 | -12 | 0 | 56 | 56 |
| Profit Before Tax | 660 | 664 | 697 | 1046 | 1477 | 1780 | 2438 | 2936 | 2957 | 3125 | 2935 | 2876 |
| Provision for Tax | 241 | 251 | 231 | 327 | 519 | 590 | 159 | 743 | 726 | 783 | 751 | 740 |
| Profit After Tax | 419 | 412 | 465 | 718 | 958 | 1190 | 2279 | 2192 | 2231 | 2342 | 2184 | 2136 |
| Adjustments | -4 | 74 | 0 | -164 | -217 | -192 | -549 | -586 | -593 | -701 | -524 | -611 |
| Profit After Adjustments | 416 | 486 | 465 | 554 | 741 | 999 | 1729 | 1607 | 1638 | 1641 | 1660 | 1527 |
| Adjusted Earnings Per Share | 7.4 | 8.6 | 8.3 | 9.8 | 13.2 | 17.7 | 30.7 | 28.5 | 29 | 29.1 | 29.4 | 27 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -5% | 14% | 13% | 32% |
| Operating Profit CAGR | -6% | -1% | 6% | 14% |
| PAT CAGR | -7% | -0% | 13% | 18% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 23% | 8% | 11% | 12% |
| ROE Average | 22% | 27% | 35% | 27% |
| ROCE Average | 30% | 34% | 35% | 27% |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 3385 | 3780 | 3986 | 4526 | 2428 | 3295 | 4884 | 6391 | 7919 | 9449 | 10825 |
| Minority's Interest | 123 | 161 | 0 | 1235 | 855 | 1011 | 1520 | 2068 | 2599 | 3239 | 3558 |
| Borrowings | 1037 | 888 | 790 | 2793 | 3972 | 3375 | 2378 | 1095 | 391 | 0 | 0 |
| Other Non-Current Liabilities | 449 | 485 | 589 | 1544 | 1640 | 1794 | 1463 | 1508 | 1567 | 1610 | 1648 |
| Total Current Liabilities | 631 | 555 | 473 | 1711 | 3066 | 2987 | 3104 | 3107 | 2818 | 3018 | 3025 |
| Total Liabilities | 5625 | 5868 | 5838 | 11808 | 11963 | 12461 | 13350 | 14169 | 15294 | 17316 | 19056 |
| Fixed Assets | 3205 | 3169 | 3123 | 8067 | 8207 | 8896 | 9255 | 9496 | 9945 | 10480 | 10778 |
| Other Non-Current Assets | 1507 | 1921 | 1825 | 2147 | 2438 | 2023 | 2242 | 2883 | 3558 | 3701 | 4268 |
| Total Current Assets | 912 | 778 | 890 | 1594 | 1318 | 1542 | 1853 | 1790 | 1791 | 3136 | 4011 |
| Total Assets | 5625 | 5868 | 5838 | 11808 | 11963 | 12461 | 13350 | 14169 | 15294 | 17316 | 19056 |
| #(Fig in Cr.) | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 537 | 135 | 91 | 99 | 29 | 118 | 168 | 640 | 361 | 90 | 810 |
| Cash Flow from Operating Activities | 644 | 626 | 603 | 1644 | 1669 | 2044 | 2771 | 2897 | 2748 | 3340 | 2803 |
| Cash Flow from Investing Activities | -708 | -201 | -321 | -835 | -3593 | -612 | -806 | -1080 | -1359 | -1815 | -2142 |
| Cash Flow from Financing Activities | -338 | -438 | -297 | -879 | 2013 | -1382 | -1494 | -2096 | -1659 | -805 | -547 |
| Net Cash Inflow / Outflow | -402 | -13 | -15 | -70 | 89 | 50 | 471 | -279 | -271 | 720 | 114 |
| Closing Cash & Cash Equivalent | 135 | 122 | 76 | 29 | 118 | 168 | 640 | 361 | 90 | 810 | 924 |
| # | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 7.39 | 8.64 | 8.26 | 9.84 | 13.15 | 17.71 | 30.66 | 28.48 | 29.04 | 29.09 | 29.41 |
| CEPS(Rs) | 10.72 | 10.68 | 11.51 | 20.5 | 24.93 | 29.41 | 49.59 | 48.46 | 49.81 | 52.51 | 50.47 |
| DPS(Rs) | 1 | 1.2 | 1.5 | 1.5 | 1.75 | 2 | 2 | 2 | 2 | 5 | 5 |
| Book NAV/Share(Rs) | 60.03 | 67.03 | 70.71 | 80.26 | 43.04 | 58.41 | 86.59 | 113.27 | 140.35 | 167.47 | 191.86 |
| Core EBITDA Margin(%) | 88.4 | 85.98 | 87.31 | 27.15 | 27.52 | 26.59 | 25.85 | 30.48 | 19.1 | 19.72 | 19.04 |
| EBIT Margin(%) | 76.31 | 73.4 | 78.29 | 21.88 | 23.15 | 23.11 | 22.51 | 26.97 | 16.75 | 17.12 | 16.71 |
| Pre Tax Margin(%) | 62.81 | 62.33 | 70.24 | 17.29 | 19.89 | 18.64 | 19.55 | 25.03 | 16.14 | 16.74 | 16.4 |
| PAT Margin (%) | 39.91 | 38.73 | 46.9 | 11.88 | 12.91 | 12.46 | 18.27 | 18.7 | 12.18 | 12.55 | 12.2 |
| Cash Profit Margin (%) | 57.41 | 56.5 | 65.34 | 19.1 | 18.92 | 17.36 | 22.43 | 23.32 | 15.34 | 15.87 | 15.91 |
| ROA(%) | 7.6 | 7.17 | 7.95 | 8.14 | 8.06 | 9.75 | 17.66 | 15.93 | 15.14 | 14.36 | 12.01 |
| ROE(%) | 13.09 | 11.53 | 12 | 16.89 | 27.59 | 41.63 | 55.74 | 38.89 | 31.18 | 26.97 | 21.54 |
| ROCE(%) | 16.95 | 16.03 | 15.55 | 21.06 | 22.43 | 28.14 | 34.25 | 37.58 | 36.52 | 35.62 | 29.51 |
| Receivable days | 87.39 | 68.47 | 55.59 | 18.35 | 23.54 | 22.97 | 19.84 | 25.13 | 19.9 | 21.32 | 23.35 |
| Inventory Days | 25.46 | 30.8 | 41.94 | 8.2 | 8.21 | 7.21 | 5.41 | 5.52 | 4.23 | 5.04 | 5.53 |
| Payable days | 0 | 0 | 0 | 16.94 | 25.64 | 20.89 | 17.87 | 23.65 | 13.76 | 17.48 | 21.88 |
| PER(x) | 9.36 | 14.33 | 16.77 | 16.36 | 14.3 | 10.69 | 5.64 | 9.6 | 8.95 | 9.09 | 12.11 |
| Price/Book(x) | 1.15 | 1.85 | 1.96 | 2.01 | 4.37 | 3.24 | 2 | 2.41 | 1.85 | 1.58 | 1.86 |
| Dividend Yield(%) | 1.45 | 0.97 | 1.08 | 0.93 | 0.93 | 1.06 | 1.16 | 0.73 | 0.77 | 1.89 | 1.4 |
| EV/Net Sales(x) | 4.55 | 7.2 | 8.38 | 1.9 | 2.13 | 1.58 | 1.03 | 1.47 | 0.84 | 0.75 | 1.08 |
| EV/Core EBITDA(x) | 4.84 | 7.89 | 9.1 | 6.41 | 7.23 | 5.52 | 3.78 | 4.62 | 4.19 | 3.55 | 5.2 |
| Net Sales Growth(%) | -10.44 | 1.32 | -6.83 | 494.93 | 23.04 | 28.7 | 31.02 | -5.78 | 55.96 | 0.7 | -4.54 |
| EBIT Growth(%) | -15.77 | -2.55 | -0.61 | 70.39 | 29.89 | 28.42 | 27.15 | 12.67 | -2.97 | 4.12 | -6.38 |
| PAT Growth(%) | -21.98 | -1.67 | 12.84 | 54.37 | 33.45 | 24.21 | 91.42 | -3.78 | 1.76 | 4.98 | -6.76 |
| EPS Growth(%) | -22.7 | 16.91 | -4.33 | 19.09 | 33.65 | 34.65 | 73.12 | -7.12 | 1.96 | 0.2 | 1.1 |
| Debt/Equity(x) | 0.42 | 0.31 | 0.27 | 0.66 | 2.22 | 1.39 | 0.74 | 0.3 | 0.07 | 0 | 0 |
| Current Ratio(x) | 1.45 | 1.4 | 1.88 | 0.93 | 0.43 | 0.52 | 0.6 | 0.58 | 0.64 | 1.04 | 1.33 |
| Quick Ratio(x) | 1.34 | 1.2 | 1.63 | 0.84 | 0.37 | 0.45 | 0.54 | 0.52 | 0.55 | 0.95 | 1.24 |
| Interest Cover(x) | 5.65 | 6.63 | 9.72 | 4.77 | 7.11 | 5.17 | 7.61 | 13.96 | 27.45 | 45.57 | 52.95 |
| Total Debt/Mcap(x) | 0.37 | 0.17 | 0.14 | 0.33 | 0.51 | 0.43 | 0.37 | 0.12 | 0.04 | 0 | 0 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 | 37.63 |
| FII | 16.54 | 17.31 | 17.28 | 16.72 | 16.55 | 16.01 | 16.03 | 15.67 | 15.85 | 15.21 |
| DII | 32.76 | 26.2 | 26.28 | 26.9 | 27.2 | 27.18 | 26.77 | 26.74 | 25.58 | 34.88 |
| Public | 13.07 | 18.86 | 18.82 | 18.75 | 18.62 | 19.19 | 19.57 | 19.95 | 20.94 | 12.29 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 | 21.23 |
| FII | 9.33 | 9.77 | 9.75 | 9.43 | 9.34 | 9.03 | 9.04 | 8.84 | 8.94 | 8.58 |
| DII | 18.49 | 14.78 | 14.83 | 15.18 | 15.35 | 15.33 | 15.11 | 15.09 | 14.43 | 19.68 |
| Public | 7.37 | 10.64 | 10.62 | 10.58 | 10.5 | 10.82 | 11.04 | 11.26 | 11.82 | 6.93 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 | 56.42 |
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