NSE: GUJGASLTD | BSE: 539336

Mid-range Performer

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474.65 9.95 (2.14%)

31.21% Fall from 52W High

224.7K NSE+BSE Volume

NSE 16 Jul, 2025 3:31 PM (IST)

32,674.4

Market Cap

High in industry

0.9

Beta 1Year

Low volatility

Gujarat Gas Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for GUJGASLTD, BSE:539336 Gujarat Gas Ltd.

Gujarat Gas Ltd.

31 Jul 2019

474.65

2.14%

Gujarat Gas

Buy: Gujarat Gas Ltd.

Target

ICICI Securities Limited

The quarter witnessed a robust increase of 42.2% YoY in volumes to 9.2 mmscmd. Industrial volumes were at 7.1 mmscmd vs. 5.1 mmscmd YoY and 4.3 mmscmd QoQ due to volume impact from the Morbi industrial area. Morbi industrial volumes were at ~5 mmscmd for the quarter (2-2.5 mmscmd volumes last year) i.e. 70% of industrial volumes. CNG volumes at 1.5 mmscmd showed stable growth while domestic/commercial PNG volumes were at ~0.6 mmscmd. The volume outlook remains robust as National Green Tribunal (NGT) has ordered a ban on coal based gasifiers,...

Gujarat Gas Ltd.'s price crossed above 50Day SMA today

Gujarat Gas Ltd.

31 Jul 2019

474.65

2.14%

Gujarat Gas

Buy: Gujarat Gas Ltd.

Recommendation Target

Dolat Capital

Gujarat Gas volumes were higher than expected at 833 mmscm as against our estimates of 792 mmscm. Strong revenues at ` 26.1 bn was driven by 43%YoY gas volumes growth. Gross spreads were flat on a sequential basis and higher by 9% on a yearly basis. EBITDA spreads were highest in this quarter at ` 5.6/scm due to lower LNG spot prices. EBITDA spreads increased by 32% YoY and 29% QoQ. With recent strategy of management to focus on volumes, we believe that operating spreads should sustain at ` 4.5/SCM. Overall volumes increased by 43% YoY and 41% QoQ, with...

Gujarat Gas Ltd. has lost -26.12% in the last 1 Year

Gujarat Gas Ltd.

30 Jul 2019

474.65

2.14%

Lower spot prices result in better EBITDA/scm

Neutral: Gujarat Gas Ltd.

Target

Motilal Oswal

GUJGA reported strong EBIDTA of INR4.7b (+50% beat; +88% YoY, +84% QoQ), driven by lower sourcing cost. PAT was up 93% YoY at INR2.3b. Total sales volumes were 4% higher than our estimate at 9.2mmscmd (+42% YoY/QoQ), primarily led by higher industrial volumes. EBITDA/scm for the quarter stood at INR5.6 (v/s INR4.2 in 1QFY19 and INR4.3 in 4QFY19). This is the highest-ever EBITDA/scm reported by the company, aided by lower spot LNG prices (average USD5.4/mmbtu in 1QFY20 v/s USD8.9 in 1QFY19 and USD7.4 in 4QFY19)....

Gujarat Gas Ltd. has an average target of 530.67 from 3 brokers.

Gujarat Gas Ltd.

30 Jul 2019

474.65

2.14%

Gujarat Gas (BUY): Volumes and margins surge

Buy: Gujarat Gas Ltd.

BOB Capital Markets Ltd.

Gujarat Gas (GUJGA) reported Q1FY20 earnings well above estimates at Rs 2.3bn (+93% YoY, +2x QoQ), backed by strong volumes of 9.15mmscmd (+42% YoY) and expanded EBITDA margins of Rs 5.6/scm (+32% YoY, +29% QoQ).

Gujarat Gas Ltd.'s price crossed above 50Day SMA today

Gujarat Gas Ltd.

31 May 2019

474.65

2.14%

Gujarat Gas (Initiating Coverage): Solid, not gas. BUY

Buy: Gujarat Gas Ltd.

HDFC Securities

We value GGL at 20x FY21EPS (vs. 25x for IGL and 19x for MGL). Our TP is Rs 222. Initiate with BUY. Gujarat Gas (GGL) volumes grew at 5% CAGR over FY18-19, while unit gross margins expanded 57bps despite a 26% jump in LNG prices. Since over two thirds of sales vols (industrial/commercial) do not qualify for domestic procurement, GGL buys via LT contracts. It also bore the brunt of ~9% INR depreciation, even as EBITDA growth was in line with volumes. The stock is flat vs. 16% appreciation of the BSE Sensex. We think this presents an opportunity, in view of volume growth visibility. The company is well positioned given (1) Low LNG prices will boost industrial gas sales volume, (2) The development of CGD ecosystem across Gujarat will push CNG volumes.

Gujarat Gas Ltd. is trading above its 150 day SMA of 455.3

Gujarat Gas Ltd.

07 May 2019

474.65

2.14%

Gujarat Gas

Buy: Gujarat Gas Ltd.

Target

ICICI Securities Limited

NGT order to boost industrial sales volumes The quarter saw a decline in volume growth of 3.8% YoY to 6.5 mmscmd. Industrial volumes were at 4.3 mmscmd vs. 4.7 mmscmd YoY due to volume impact from the Morbi industrial area. CNG volumes at 1.5 mmscmd showed stable growth while domestic/commercial PNG volumes came in at ~0.8 mmscmd. However, the volume outlook remains robust as National Green Tribunal (NGT) has ordered a ban on coal based gasifiers, which would increase sales volumes from the Morbi ceramic industry. Following the NGT...

Gujarat Gas Ltd.'s price crossed above 50Day SMA today

Gujarat Gas Ltd.

07 May 2019

474.65

2.14%

Gujarat Gas

Sell: Gujarat Gas Ltd.

Target

Dolat Capital

Gujarat Gas volume of 585 MMSCM was below our estimate of 650 MMSCM. The ` 19.1 bn in revenue was below our estimate, due to a volume miss. The gross spreads fell 6% QoQ and grew 23% YoY. In the past, the company's spread grew to a high level, and reverted to lower levels in the following quarter, and that happened this quarter, as well. We will...

Gujarat Gas Ltd. is trading below its 200 day SMA of 474.9

Gujarat Gas Ltd.

06 May 2019

474.65

2.14%

Competitive pressure impacting performance

Neutral: Gujarat Gas Ltd.

Recommendation Target

Motilal Oswal

6 May 2019 EBIDTA increased 14% YoY (-21% QoQ) to INR2.5b (in-line) in 4QFY19. PAT due to a lower tax rate of 22.7% owing to write-back of excess tax provision and accrued income tax refund during the year. Total sales volumes declined 5% YoY (-2% QoQ) to 6.4mmscmd (in-line). industrial/commercial (PNG I/C) volumes stood at 4.3mmscmd (-7% YoY, -5% QoQ), while PNG household volumes were at 0.6mmscmd (-13% YoY, +15% QoQ). We have modeled PNG sales volumes of 6.6/7.3mmscmd for FY20/21, in line with the expected demand boost at Morbi. volumes stood at 1.5mmscmd (+8% YoY, +3% QoQ). We have modeled CNG volumes at 1.

Gujarat Gas Ltd. has an average target of 530.67 from 3 brokers.

Gujarat Gas Ltd.

05 Apr 2019

474.65

2.14%

Strong volume growth outlook

Buy: Gujarat Gas Ltd.

Target

Motilal Oswal

In early 2019, sales volumes were down to ~2.1-2.2mmscmd, but the closure of coal gasifiers has boosted current sales volumes to ~3mmscmd at Morbi. Although ceramic manufacturers have shifted, they have not come forward to sign term contracts

Gujarat Gas Ltd.'s price crossed above 50Day SMA today

Gujarat Gas Ltd.

08 Mar 2019

474.65

2.14%

The National Green Tribunal (NGT) has ordered an immediate closure of coal gasifiers at M...

Buy: Gujarat Gas Ltd.

Recommendation Target

Emkay

Refer to important disclosures at the end of this report NGT order on closure of coal gasifiers likely to accelerate switch to PNG Click here to: Polling for Institutional Investor's 2019 Asia Research Team The National Green Tribunal (NGT) has ordered an immediate closure of coal gasifiers at Morbi ceramic cluster or switch to natural gas to continue operations, according to media reports. This comes in response to a petition filed for causing environmental damage, which was affirmed by the NEERI (plant modifications and zero discharge recommendations not...

Gujarat Gas Ltd.'s price crossed above 50Day SMA today

Is Gujarat Gas Ltd. worth buying?

436 Votes:

Buy 80.28%

Sell 8.26%

Hold 11.47%

RESEARCH REPORTS

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