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Motilal Oswal Report
Gujarat Gas Ltd. reported better-than-expected Q2 FY21 numbers on the back of record high gross margin and lowest-ever opex.
The lockdown had an impact on natural gas demand, mainly from industrial and compressed natural gas customers.
However, the company's gas sales volume showed robust recovery post the lockdown; currently total gas volumes stand at 10.5 million metric standard cubic meter per day (versus FY20 average sales of approximately 9.5 mmscmd).
In the industrial category, gas sales volumes are currently above pre-lockdown levels.
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