Durability score
50 /100
Valuation score
39.7 /100
Momentum score
53.2 /100
Market Capitalizati...
10,032.8 Cr.
AVG Broker Target
202.7
PE TTM Price to Ear...
12.6
Gujarat State Petronet Ltd.    
14 Mar 2019
177.90
0.34%
HDFC Securities
We value GSPL's transmission business using Discounted Cash Flow (DCF) at Rs 120/sh. To this, we add Rs 87/sh as value of its investments in GGL, Sabarmati Gas (30% discount to EV/EBTDA valuation) and other investments (at book value) to arrive at the target price of Rs 207/sh. We initiate with BUY. In the wake of the Modi era, starting May-14 up to Dec-17, Gujarat State Petronets (GSPL) stock soared 237% to Rs 226 driven by a positive surprise in transmission volume (+11.5% CAGR). This led to EBITDA expanding at 11.1% CAGR and APAT at 22.4%.
Gujarat State Petron.. has an average target of 202.67 from 6 brokers.
Gujarat State Petronet Ltd.    
05 Mar 2019
177.90
0.34%
BOB Capital Markets Ltd.
Our meeting with the Gujarat State Petronet (GUJS) management addressed concerns on volumes and reinforced our investment thesis. Key takeaways: (a) Loss of volumes from RIL is unlikely to exceed 5mmscmd. (b) Demand from the power, industrials and CGD sectors would largely offset the loss of RIL volumes. (c) Tariffs could improve once PNGRB factors in the new pipeline section connected to the Mundra LNG terminal. We roll our target price...
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HDFC Securities released a Buy report for Gujarat State Petronet Ltd. with a price target of 207.0 on 14 Mar, 2019.
Gujarat State Petronet Ltd.    
12 Feb 2019
177.90
0.34%
ICICI Securities Limited
Gujarat State Petronet (GSPL) reported its Q3FY19 result, which were below our estimates on the profit front mainly on account of higher than estimated other expenses and one-offs on revenue. Revenues increased 29.6% YoY to | 453.8 crore, below our estimate of | 470.6 crore due to write-off of disputed revenue of ~| 20 crore Volumes came in at 34.5 mmscmd, in line with our estimates. However, due to increase in other expenses by 90.8% YoY to | 80.4 crore (our estimate: | 40.9 crore), EBITDA at | 353.2 crore came in...
Gujarat State Petronet Ltd. is trading below it's 200 day SMA of 179.23
Gujarat State Petronet Ltd.    
08 Feb 2019
177.90
0.34%
Motilal Oswal
8 February 2019 Transmission volumes of 34.5mmscmd were higher than our estimate of 33mmscmd. Implied tariff was marginally lower at INR1,420/mscm. Driven by higher other expenditure of INR804m (+90% YoY, +31% QoQ), EBITDA came in lower than our estimate at INR3.5b (+19% YoY, -32% QoQ). 2QFY19 included the retrospective impact of tariff revision from 1QFY19. PAT in the quarter came in at Transmission volume stood at 34.5mmscmd, as against 33.5mmscmd in 3QFY18 and 35mmscmd in 2QFY19. Implied transmission tariff stood at INR1,420/mscm, as against INR1,123/mscm in 3QFY18 and INR1,810/mscm in 2QFY19. Implied tariff in 2QFY19 included the retrospective impact of tariff hike. We model (a) transmission tariff of INR1,445/mscm in FY20/21 v/s actual INR1,410 in 3QFY19 and (b) volumes of 30/31mmscmd in FY20/21 v/s 35mmscmd in FY19. The lower volume can be ascribed to the possible start- up of RILs petcoke gasifier, which could take away 5-7mmscmd of volumes. In 9MFY19, EBITDA stood at INR12.1b (+41% YoY), driven by tariff revision.
HDFC Securities released a Buy report for Gujarat State Petronet Ltd. with a price target of 207.0 on 14 Mar, 2019.
Gujarat State Petronet Ltd.    
09 Nov 2018
177.90
0.34%
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Gujarat State Petronet (GSPL) reported its Q2FY19 result, which were above our estimates mainly on account of tariff revision with effect from April 1, 2018. Adjusting for the tariff revision, the results were in line with our estimates. Revenues increased 78.7% YoY to | 598.3 crore, above our estimate of | 334.8 crore Volumes at 35 mmscmd came in line with our estimates. Lower volume offtake from the power sector led to a 4% QoQ decline in...
Gujarat State Petronet Ltd. is trading below it's 200 day SMA of 179.23
Gujarat State Petronet Ltd.    
05 Nov 2018
177.90
0.34%
buy
Dolat Capital
Muted operational performance. Higher tariffs benefit to start GSPL numbers were marginally below estimates. Volume at 35 MMSCMD were lower than estimated (36.3 MMSCMD). Tariffs were in line with expectations. Operating profitability was impacted to higher employee cost and higher other expenses. GSPL has recognized ` 2.2 bn of unbilled revenue based on new tariffs approved by PNGRB. Key trigger of tariff hike has played out and we feel that from hereon, volume growth trajectory will be the key monitorable. We expect that tariffs should increase...
Gujarat State Petronet Ltd. is trading above it's 150 day SMA of 177.13
Gujarat State Petronet Ltd.    
05 Nov 2018
177.90
0.34%
IDBI Capital
Gujarat State Petronet's (GSPL) Q2FY19 results were a strong beat to our estimates on the back of higher than expected tariff and one-off revenue. Due to tariff revision, the company booked Rs2.2 bn of unbilled revenue for H1FY19 during the quarter. Revenue was up 78.7% YoY to Rs5.9bn, EBITDA increased by 80.8% YoY to Rs5.1bn and PAT grew by 82.7% YoY to Rs32.3bn. The company reported volume growth of 10.9% YoY to 35mmscmd (our estimates 36mmscmd) while net implied tariff grew by 62.8% YoY to...
HDFC Securities released a Buy report for Gujarat State Petronet Ltd. with a price target of 207.0 on 14 Mar, 2019.
Gujarat State Petronet Ltd.    
28 Sep 2018
177.90
0.34%
ICICI Securities Limited
Petroleum and Natural Gas Regulatory Board (PNGRB) have announced the final gas pipeline tariff for Gujarat State Petronet (GSPL). The upward revision in tariffs was above our estimates. Pipeline tariffs increased 28% from | 26.58/mmbtu (~| 1.1/scm) to | 34/mmbtu (~| 1.4/scm) for the main high pressure pipeline against our expectation of 20% increase in tariffs. Subsequently, we increase our tariff estimates by ~7.5% from | 1.35/scm to | 1.45/scm from H2FY19 onwards. The tariff revision has led to an increase in FY19E EPS by 6.2% and FY20E EPS by 11%....
Gujarat State Petronet Ltd. is trading below it's 200 day SMA of 179.23
Gujarat State Petronet Ltd.    
31 Jul 2018
177.90
0.34%
ICICI Securities Limited
ICICI Securities Ltd | Retail Equity Research Gujarat State Petronet (GSPL) reported its Q1FY19 result, which were above our estimates on the topline front mainly on account of higher than estimated volumes. Revenues increased 32% YoY to | 391.2 crore, above our estimate of | 337.7 crore Volumes at 36.5 mmscmd came in above our estimate at | 32.5 mmscmd as its largest industrial consumer continued its offtake during the quarter. Transmission tariffs at | 1.14/scm came in line...
Gujarat State Petronet Ltd. is trading above it's 150 day SMA of 177.13
Gujarat State Petronet Ltd.    
31 Jul 2018
177.90
0.34%
IDBI Capital
Gujarat State Petronet's (GSPL) Q1FY19 revenue and EBITDA were a beat to our estimates, while PAT was a miss due to higher than expected interest cost and effective tax rate. Revenue increased 32% YoY to Rs3.9bn (IDBIest Rs3.6bn) led by strong volume growth 35.7% YoY to 36.5mmscmd while net implied tariff declined marginally 1.3%...
HDFC Securities released a Buy report for Gujarat State Petronet Ltd. with a price target of 207.0 on 14 Mar, 2019.