Gujarat State Petronet Ltd

Guj.St.Petronet Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Gujarat State Petronet Ltd

₹ 294 0.19%
26 Apr 4:01 p.m.
gspcgroup.com BSE: 532702 NSE : GSPL
About

Gujarat State Petronet Limited is a Public Limited Company incorporated under The Companies Act,1956. Further it is a Government Company u/s 2(45) under the Companies Act,2013.
Gujarat State Petronet Limited alongwith its subsidiaries is primarily engaged in transmission of Natural gas through pipeline. Further it is engaged in business of implementing and operating City Gas Distribution and generation of electricity through windmills. [1]

Key Points

Gas Transmission Business
The company is one of the largest players in the natural gas transmission business in India together with its leadership position in Gujarat and strategic location with connection to all major natural gas supply sources. GSPL commenced its operations with the transmission of natural gas being provided by GSPC. Over a while, GSPL has invested significantly in developing its natural gas pipeline network, which is now connected to major natural gas supply sources in Gujarat, including designated collection points near the various natural gas fields in Hazira, regassified liquified natural gas (RLNG) from Shell’s terminal at Hazira, Petronet LNG Limited’s terminal at Dahej, GSPC LNG Limited’s (GLL) terminal at Mundra along with Swan LNG floating storage regasification unit (FSRU) (Phase-1) and Chhara LNG terminal. It owns and operates around 2,704 km of natural gas transmission pipeline in the state of Gujarat as of Q1FY24. GSPL also sells electricity generated through its 52.50-MW windmills.

Website BSE NSE
  • Market Cap ₹ 16,579 Cr.
  • Current Price ₹ 294
  • High / Low ₹ 407 / 254
  • Stock P/E 13.3
  • Book Value ₹ 173
  • Dividend Yield 1.65 %
  • ROCE 13.8 %
  • ROE 10.7 %
  • Face Value ₹ 10.0
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Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company has been maintaining a healthy dividend payout of 17.8%

Cons

  • The company has delivered a poor sales growth of 5.76% over past five years.
  • Company has a low return on equity of 12.0% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Gas Distribution Industry: Miscellaneous

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
576 465 527 589 471 433 482 435 402 443 441 529 554
178 122 154 208 135 127 122 101 132 148 105 119 175
Operating Profit 398 343 373 381 336 306 360 334 270 295 336 410 380
OPM % 69% 74% 71% 65% 71% 71% 75% 77% 67% 67% 76% 78% 68%
7 6 4 88 39 6 4 104 13 48 18 266 21
Interest 22 17 14 9 5 3 1 1 1 1 1 1 1
Depreciation 50 50 48 49 49 49 48 49 49 48 47 48 49
Profit before tax 333 282 315 411 320 260 315 388 233 293 307 628 351
Tax % 26% 27% 26% 20% 23% 22% 25% 19% 27% 23% 25% 15% 25%
248 206 232 328 248 202 235 314 171 224 229 532 262
EPS in Rs 4.39 3.66 4.11 5.81 4.40 3.58 4.17 5.57 3.03 3.98 4.06 9.43 4.65
Raw PDF
Upcoming result date: 8 May 2024

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,123 1,173 1,051 1,065 992 1,028 1,332 1,877 2,363 2,079 2,020 1,762 1,968
90 101 122 136 126 139 184 334 789 612 620 503 547
Operating Profit 1,034 1,072 929 928 866 888 1,148 1,543 1,574 1,467 1,400 1,259 1,421
OPM % 92% 91% 88% 87% 87% 86% 86% 82% 67% 71% 69% 71% 72%
47 66 55 39 66 88 73 59 65 69 133 168 353
Interest 130 126 142 118 80 60 35 219 164 93 31 5 4
Depreciation 182 186 184 189 183 179 175 180 195 203 196 194 192
Profit before tax 769 826 658 660 669 738 1,011 1,203 1,280 1,240 1,306 1,229 1,578
Tax % 32% 35% 36% 38% 33% 33% 34% 34% 13% 25% 23% 23%
522 538 419 410 445 497 668 795 1,109 924 1,010 945 1,248
EPS in Rs 9.28 9.56 7.45 7.29 7.91 8.81 11.86 14.09 19.65 16.38 17.90 16.75 22.12
Dividend Payout % 11% 10% 13% 16% 19% 17% 15% 14% 10% 12% 11% 30%
Compounded Sales Growth
10 Years: 4%
5 Years: 6%
3 Years: -9%
TTM: 12%
Compounded Profit Growth
10 Years: 6%
5 Years: 7%
3 Years: -5%
TTM: 35%
Stock Price CAGR
10 Years: 15%
5 Years: 8%
3 Years: 4%
1 Year: 4%
Return on Equity
10 Years: 13%
5 Years: 13%
3 Years: 12%
Last Year: 11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 563 563 563 563 563 564 564 564 564 564 564 564 564
Reserves 1,904 2,378 2,732 3,060 3,506 3,932 4,501 5,180 6,158 6,981 7,879 8,709 9,187
1,396 1,610 1,429 1,157 1,067 631 3,058 2,366 1,630 1,030 95 8 9
606 703 679 760 710 707 826 840 750 797 802 807 817
Total Liabilities 4,469 5,253 5,403 5,540 5,846 5,833 8,949 8,950 9,103 9,373 9,340 10,088 10,577
3,140 3,252 3,159 3,065 3,123 3,166 3,114 3,608 3,586 3,467 3,325 3,155 3,097
CWIP 418 526 656 776 768 686 896 419 237 222 253 426 715
Investments 116 174 585 649 731 766 4,181 4,277 4,611 5,006 5,174 5,170 5,336
794 1,302 1,002 1,050 1,224 1,216 757 646 669 678 588 1,337 1,429
Total Assets 4,469 5,253 5,403 5,540 5,846 5,833 8,949 8,950 9,103 9,373 9,340 10,088 10,577

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
794 693 645 627 603 944 894 1,088 1,360 1,241 1,075 966
-418 -328 -646 -152 -321 -368 -3,174 -8 -310 -438 -4 -702
-303 -1 -407 -474 -297 -637 2,286 -1,033 -1,030 -809 -1,082 -203
Net Cash Flow 73 364 -408 1 -15 -61 7 48 20 -6 -11 62

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 26 79 86 52 56 42 34 40 25 28 23 30
Inventory Days
Days Payable
Cash Conversion Cycle 26 79 86 52 56 42 34 40 25 28 23 30
Working Capital Days -123 -62 -89 -81 -57 -17 -361 -188 -150 19 16 51
ROCE % 25% 23% 17% 17% 15% 16% 16% 18% 18% 16% 15% 14%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63% 37.63%
17.46% 17.47% 16.61% 16.21% 16.54% 17.31% 17.28% 16.72% 16.55% 16.00% 16.03% 15.67%
19.05% 20.03% 21.61% 22.25% 21.78% 24.19% 24.27% 24.88% 25.20% 25.17% 24.77% 24.74%
10.98% 10.98% 10.98% 10.98% 10.98% 2.01% 2.01% 2.01% 2.01% 2.01% 2.01% 2.01%
14.88% 13.89% 13.17% 12.93% 13.07% 18.85% 18.82% 18.75% 18.62% 19.19% 19.56% 19.95%
No. of Shareholders 1,39,4091,54,5261,54,1251,55,4571,58,0301,64,8301,63,6881,59,9841,59,4011,68,2961,73,7631,80,765

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Feb 2024
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  • Nov 2023
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  • Aug 2023
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  • May 2023
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  • Nov 2019
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  • Aug 2019
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  • May 2019
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