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Centrum Broking Report
Gujarat State Petronet Ltd. reported volumes at 33.8 million metric standard cubic meter per day, slightly below our estimate- 35.5mmscmd, down 8% YoY/ down 14% QoQ.
FY21 average volumes stand at 36.6mmscmd down 3.4% YoY implying the recovery seen in H2 FY21 (volumes declined 6% YoY in H1 FY21.
Reported Ebitda/ profit after tax at Rs 3.44/2.07 Rs billion (down 3/down 8% YoY), in line with our estimate Ebitda/profit after tax of Rs 3.4/ Rs 2.04 billion.
FY21 Ebitda/profit after tax at Rs 14.7/9.37 billion (down 6.7/down 2% YoY).
Revenues of Rs 4.65 billion (down 22/down 20% YoY/QoQ), below our estimate Rs 5.27 billion due to lower than expected volumes.
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