Gujarat Gas: Performance accelerates - Views on News from Equitymaster

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Gujarat Gas: Performance accelerates

Aug 1, 2000

Gujarat Gas has reported an excellent performance for the 2QFY00. The company continues to build assets to become a major player in the gas transmission and distribution business.

(Rs m) 2QFY99 2QFY00 Change
Sales 516 697 35.1%
Other Income 23 27 18.3%
Expenditure 387 457 18.1%
Operating Profit (EBDIT) 129 241 86.0%
Operating Profit Margin (%) 25.1% 34.5%  
Interest 15 27 77.4%
Depreciation 26 28 11.0%
Profit before Tax 111 212 90.5%
Tax 23 59  
Profit after Tax/(Loss) 89 154 73.6%
Net profit margin (%) 17.2% 22.0%  
No. of Shares (eoy) 13 13  
Earnings per share* 27.6 48.0  
*(annualised)      

The most impressive aspect of its performance has been the increase in OPM. Margins have improved substantially, which has boosted profits handsomely.

The company is trading at a multiple of 9 on 2QFY00 annualised earnings. Historically, it has traded at a two year average P/E of 13.


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