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12 Jun 2025 |
Gujarat State
|
Consensus Share Price Target
|
331.45 |
364.82 |
- |
10.07 |
hold
|
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23 May 2025
|
Gujarat State
|
Prabhudas Lilladhar
|
331.45
|
348.00
|
338.65
(-2.13%)
|
4.99 |
Hold
|
|
|
Gujarat State Petronet (GSPL) reported a sharp decline in transmission volume to downward revision. Sequentially, implied tariff stood at Rs847/mscm, -3% QoQ. Lower volume and lower implied tariff resulted in EBITDA of Rs1.2bn, -35% QoQ (PLe & consensus Rs1.9bn). Higher interest cost resulted in even sharper...
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10 Feb 2025
|
Gujarat State
|
Prabhudas Lilladhar
|
331.45
|
327.00
|
322.10
(2.90%)
|
Target met |
Hold
|
|
|
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09 Feb 2025
|
Gujarat State
|
ICICI Securities Limited
|
331.45
|
350.00
|
333.75
(-0.69%)
|
Target met |
Hold
|
|
|
Gujarat State Petronet (GSPL) reported a 49%/48% YoY decline in EBITDA/PAT to INR 1.9/INR 1.36bn with EBITDA/PAT below our estimate of INR 2.1bn /INR 1.4bn.
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09 Nov 2024
|
Gujarat State
|
BOB Capital Markets Ltd.
|
331.45
|
415.00
|
380.85
(-12.97%)
|
25.21 |
Hold
|
|
|
Q2 EBITDA declined 54% YoY primarily on sharp tariff cut from May'24; GIGL called on GUJS for cash deficit support under sponsor agreement
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07 Nov 2024
|
Gujarat State
|
Motilal Oswal
|
331.45
|
415.00
|
390.40
(-15.10%)
|
25.21 |
Neutral
|
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|
Gujarat State Petronet (GUJS)’s 2QFY25 EBITDA was 18% below our estimate at INR1.9b, as total volumes came in 13% lower than our estimate.
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05 Oct 2024
|
Gujarat State
|
Motilal Oswal
|
331.45
|
472.00
|
428.35
(-22.62%)
|
42.40 |
Neutral
|
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|
After a strong 1Q, 2Q will likely be a weak quarter for GUJS owing to fading power demand, a one-month shutdown at Morbi, and the full-quarter impact of the tariff cut.
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02 Sep 2024
|
Gujarat State
|
BOB Capital Markets Ltd.
|
331.45
|
|
459.50
(-27.87%)
|
|
Hold
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|
|
GSPL stock's driver to be value of GUJGA and GTL post transaction with a specified swap ratio of 10+3.33 to 13 shares
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10 Aug 2024
|
Gujarat State
|
BOB Capital Markets Ltd.
|
331.45
|
370.00
|
327.35
(1.25%)
|
Target met |
Hold
|
|
|
Q1 EBITDA was in line with consensus. Factoring in beat to our Q1 estimate and gas consumption pick up, we raise our FY25-26 estimates
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09 Aug 2024
|
Gujarat State
|
Prabhudas Lilladhar
|
331.45
|
417.00
|
327.35
(1.25%)
|
Target met |
Buy
|
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09 May 2024
|
Gujarat State
|
Motilal Oswal
|
331.45
|
350.00
|
290.80
(13.98%)
|
Target met |
Buy
|
|
|
Gujarat State Petronet’s (GUJS) 4QFY24 EBITDA was in line with our est. at INR3.8b, led by higher transmission volume of 33.4mmscmd. EBITDAM was 50bp higher than our estimate at 83.1%. Realization was lower than our estimate at INR1,495/mmscm.
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30 Apr 2024
|
Gujarat State
|
BOB Capital Markets Ltd.
|
331.45
|
335.00
|
296.00
(11.98%)
|
Target met |
Hold
|
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|
Sharp tariff cut due to recognition of higher volumes, adjustment of past excess revenue and extension of pipeline's economic life
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22 Apr 2024
|
Gujarat State
|
Emkay
|
331.45
|
370.00
|
385.85
(-14.10%)
|
Target met |
Sell
|
|
|
We downgrade GSPL to REDUCE from Buy, as the long-awaited HP grid tariff revision came as a major negative surprise. The regulated tariff was set 47% lower from Rs34/mmbtu, at Rs18.1/mmbtu (GCV, wef 1-May), and was a far call from the Rs50.8 sought by GSPL.
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22 Apr 2024
|
Gujarat State
|
Prabhudas Lilladhar
|
331.45
|
392.00
|
303.85
(9.08%)
|
Target met |
Buy
|
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22 Apr 2024
|
Gujarat State
|
Motilal Oswal
|
331.45
|
355.00
|
303.85
(9.08%)
|
Target met |
Buy
|
|
|
On 20th Apr’24, the Petroleum and Natural Gas Regulatory Board (PNGRB) issued a tariff order (TO) for Gujarat State Petronet (GUJS)’s HP gas network. The tariff was reduced to INR18.1/mmBtu from INR34.0/mmBtu (provisional), which was a major disappointment.
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18 Apr 2024
|
Gujarat State
|
Emkay
|
331.45
|
|
303.85
(9.08%)
|
|
Sell
|
|
|
We downgrade GSPL to REDUCE from Buy, as the long-awaited HP grid tariff revision came as a major negative surprise. Regulated tariff was set 47% lower from Rs34/mmbtu, at Rs18.1/mmbtu (GCV, wef 1-May), and was a far call from the Rs50.8 sought by GSPL.
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|
14 Feb 2024
|
Gujarat State
|
Prabhudas Lilladhar
|
331.45
|
402.00
|
353.85
(-6.33%)
|
Target met |
Accumulate
|
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06 Nov 2023
|
Gujarat State
|
Motilal Oswal
|
331.45
|
325.00
|
272.60
(21.59%)
|
Target met |
Buy
|
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05 Aug 2023
|
Gujarat State
|
Motilal Oswal
|
331.45
|
326.00
|
275.90
(20.13%)
|
Target met |
Buy
|
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05 Aug 2023
|
Gujarat State
|
ICICI Securities Limited
|
331.45
|
345.00
|
275.90
(20.13%)
|
Target met |
Buy
|
|
|
Gujarat State Petronet’s (GSPL) Q1FY24 revenue was flat QoQ while declining YoY, even as volumes recovered 17% QoQ (flat YoY). New tariff from 1st Apr’23 led to the miss, with 11% / 13% YoY / QoQ decline in blended tariffs for Q1. Transmission volumes of 29.4mmscmd reached a 5-quarter high and we believe the trajectory will likely keep growing.
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22 Jun 2023
|
Gujarat State
|
BOB Capital Markets Ltd.
|
331.45
|
370.00
|
296.65
(11.73%)
|
Target met |
Buy
|
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Standalone business trading at FY24E P/B of 0.4x after adjusting for GUJGA stake at market value minus 30% holding discount
|