Gujarat Gas has reported a healthy topline growth for the quarter ended March '01. However, compared to the topline growth witnessed in FY01(25.5%), turnover growth for the recent quarter could signal a slow down in sales. This could be due to the supply constraints in the business, as availability of gas is the sales driver.
Operating Profit (EBDIT)
Operating Profit Margin (%)
Profit before Tax
Profit after Tax/(Loss)
Net profit margin (%)
No. of Shares (eoy)
Earnings per share*
Operating profits have improved significantly, which could have been led by better volumes and realisations. With sales growing at a faster tick as compared to costs the OPM has increased by 300 basis points. Compared to the full year, FY01, the OPM has increased by 50 basis points.
The company has managed to keep its interest costs under check. This could indicate better working capital management. The tax liability has increased considerably as compared to 1QFY01. This is because the effective tax rate has increased from 20% to 27%.
The stock has come down over the last two months along with the market. At the current price of Rs 576 the company trades on a multiple of 12.2x 1QFY02 annualised earnings.
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