BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Yes Securities Report
Gujarat Gas Ltd.'s Q3 FY23 reported Ebitda at Rs 5.82 billion (+145% YoY; -9.4% QoQ), stood above our and street estimates on better than estimated gross margin at Rs 12.8/standard cubic metre, translating into, better than estimated Ebitda at Rs 8.7/scm, even as gas sales at 7.3 million metric standard cubic metre per day, stood in-line.
In the nine months-FY23 so far, strong unit economics with average Ebitda per unit at Rs 8.1/scm, (9MFY22: 4.6), has helped offset weaker sales at 8.2 mmscmd (9MFY22: 10.9), as dependence on expensive liquefied natural gas dropped with lower sales.
Unfavorable natural gas pricing vs propane resulted in significant volume shift in Morbi's ceramic cluster.
A cooloff in spot LNG prices to ~$19/metric million British thermal unit as we write (versus $31.2 in Q3 FY23) has rekindled the possibility of shift back to natural gas.
Click on the attachment to read the full report:
More Research Reports On Gujarat Gas' Q3 FY23 Results Review
High Competitive Intensity Impact Outlook: Prabhudas Lilladher
Margin Strength Offsets Continued Morbi Woes: ICICI Securities
Subdued Volumes Although To Be Better In Coming Years: Motilal Oswal
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
