In This Article:
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Revenue from Operations: INR 3,949 crores for Q2 FY25, compared to INR 3,991 crores in the corresponding quarter of the previous year.
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Profit After Tax: INR 415 crores for Q2 FY25, an increase of approximately 3% from INR 401 crores in the previous year.
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EBITDA: INR 553 crores for Q2 FY25, up from INR 526 crores in the corresponding quarter of the previous year, marking an increase of close to 5%.
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EBITDA per MSCMD: INR 6.86, compared to INR 6.14 in the previous year.
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Industrial Sales Volume: 4.91 MMSCM for the quarter, down from 5.86 MMSCM in the previous year.
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CNG Sales Volume: 2.93 MMSCM for Q2 FY25, with a 12% annual growth.
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New Domestic Connections: 38,500 new domestic customers added during the quarter.
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Infrastructure Investment: Close to INR 130 crores invested in infrastructure during the quarter, aggregating to INR 330 crores for the half-year.
Release Date: November 07, 2024
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 12% year-over-year increase in CNG sales within Gujarat and a 25% increase outside Gujarat, indicating strong growth in the CNG segment.
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The company has successfully added nine new CNG stations, enhancing accessibility and supporting future growth.
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Gujarat Gas Ltd (BOM:539336) has maintained a high digital collection rate, with over 98% of collections coming through digital modes.
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The company reported a profit after tax increase of approximately 3% compared to the corresponding quarter of the previous year.
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Gujarat Gas Ltd (BOM:539336) is actively expanding its infrastructure, with significant investments in pipeline networks and CNG stations, which is expected to drive future volume growth.
Negative Points
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The industrial segment experienced a decline in sales volume from 5.86 MMSCMD in the previous year to 4.91 MMSCMD, attributed to geopolitical factors and increased LNG prices.
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The company faced a significant increase in LNG prices, impacting industrial pricing and margins.
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There is a noted shortfall in APM gas allocation, which has been partially compensated by more expensive new well gas.
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Sequential decline in CNG volumes was reported, attributed to the monsoon season and a CNG price hike in August.
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The company is facing challenges in maintaining growth in the industrial customer base outside of Morbi, with slower than expected expansion in new industrial areas.
Q & A Highlights
Q: Can you provide a breakdown of CNG volume growth in Gujarat versus outside Gujarat? A: 87% of the CNG volume comes from Gujarat, while 13% is from outside Gujarat.