In This Article:
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Revenue: INR 4,333 crores in Q3 FY '24-'25, up from INR 4,084 crores in the same quarter of the previous year.
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Profit After Tax: INR 222 crores in Q3 FY '24-'25, compared to INR 220 crores in the corresponding quarter of the previous year.
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EBITDA: INR 439 crores in Q3 FY '24-'25, up from INR 424 crores in the same quarter of the previous year.
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EBITDA Margin: INR 5.04 per SCM in Q3 FY '24-'25, compared to INR 5.03 per SCM in the corresponding quarter of the previous year.
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Infrastructure Investment: INR 213 crores in Q3, totaling INR 549 crores for the nine months of FY '24-'25.
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Volume Growth: Overall volume of 9.73 MMSCMD for the nine months ended 31st December 2024, a 5% increase over the previous year.
Release Date: February 07, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Gujarat Gas Ltd (BOM:539336) reported a 5% increase in overall volume to 9.73 MMSCMD for the nine months ended December 31, 2024, compared to the previous year.
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The company has developed an extensive pipeline network of over 42,000 kilometers, serving a large customer base including 22.27 lakh households, 4,430 industrial customers, and 15,590 commercial customers.
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Gujarat Gas Ltd is aggressively expanding its CNG infrastructure, operating 825 CNG stations and serving approximately 4 lakh vehicles per day.
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The company is committed to ESG initiatives, including a hydrogen blending pilot project and biogas injection into its system.
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Gujarat Gas Ltd maintains a strong credit rating of AAA stable for long-term and A1+ for short-term from CARE, India Ratings, and CRISIL.
Negative Points
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The company faced a 45% shortfall in APM gas allocation during Q3, impacting its sourcing strategy.
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Morbi volumes are under pressure due to price differentials between natural gas and propane, with a current delta of INR 4 in favor of propane.
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The EBITDA margin guidance has been revised downwards to INR 4.5 to INR 5.5 per SCM due to APM gas reduction.
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There is uncertainty regarding the implementation of GST on natural gas, which could impact pricing and consumption.
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The company is facing challenges in expanding its industrial volumes due to volatility in gas and propane prices.
Q & A Highlights
Q: Can you clarify the 45% shortfall in APM allocation for Q3? Was it specific to the CNG segment, and what is the current status in Q4? A: The 45% shortfall pertains to both domestic and CNG segments combined. In Q4, the shortfall remains around 45%, with a slight increase to possibly 47% or 48% due to marginal restoration of volumes.