Emkay Global has buy call on Ltd. with a target price of Rs 430. The current market price of Gujarat State Petronet is Rs 318.4. Time period given by analyst is one year when Gujarat State Petronet Ltd. price can reach defined target.
Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 17984.24 Crore) operating in Gas & Petroleum sector.
Gujarat State Petronet Ltd. key Products/Revenue Segments include Income From Transportation Services, Electricity and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 4181.81 Crore, up 21.24 % from last quarter Total Income of Rs 3449.24 Crore and up 39.13 % from last year same quarter Total Income of Rs 3005.58 Crore. Company reported net profit after tax of Rs 490.33 Crore in latest quarter.
Investment Rationale
The brokerage values GSPL on a SOTP basis, with core business using DCF. It rolls over from Mar’23 to Dec’23 estimates. Its TP increase from Rs 330 to Rs 430 is primarily driven by an increase in the value of Gujarat Gas stake (its TP increased from Rs 520 to Rs 630), with a 30% holdco discount. Key risks: Adverse oil-gas prices/demand, industrial slowdown, cost overruns and regulatory overhangs
Promoter/FII Holdings
Promoters held 37.63 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.47 per cent, DIIs 20.03 per cent.
Gujarat State Petronet Ltd., incorporated in the year 1998, is a Mid Cap company (having a market cap of Rs 17984.24 Crore) operating in Gas & Petroleum sector.
Gujarat State Petronet Ltd. key Products/Revenue Segments include Income From Transportation Services, Electricity and Other Operating Revenue for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 4181.81 Crore, up 21.24 % from last quarter Total Income of Rs 3449.24 Crore and up 39.13 % from last year same quarter Total Income of Rs 3005.58 Crore. Company reported net profit after tax of Rs 490.33 Crore in latest quarter.
Investment Rationale
The brokerage values GSPL on a SOTP basis, with core business using DCF. It rolls over from Mar’23 to Dec’23 estimates. Its TP increase from Rs 330 to Rs 430 is primarily driven by an increase in the value of Gujarat Gas stake (its TP increased from Rs 520 to Rs 630), with a 30% holdco discount. Key risks: Adverse oil-gas prices/demand, industrial slowdown, cost overruns and regulatory overhangs
Promoter/FII Holdings
Promoters held 37.63 per cent stake in the company as of 30-Sep-2021, while FIIs owned 17.47 per cent, DIIs 20.03 per cent.
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