Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹275, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Gas Utilities industry in India. Total returns to shareholders of 8.9% over the past three years. Reported Earnings • Jan 23
Third quarter 2026 earnings released: EPS: ₹4.55 (vs ₹4.15 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.55 (up from ₹4.15 in 3Q 2025). Revenue: ₹41.9b (down 4.0% from 3Q 2025). Net income: ₹2.57b (up 9.7% from 3Q 2025). Profit margin: 6.1% (up from 5.4% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to fall by 96% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Ankündigung • Dec 22
Gujarat State Petronet Limited to Report Q3, 2026 Results on Jan 22, 2026 Gujarat State Petronet Limited announced that they will report Q3, 2026 results on Jan 22, 2026 Major Estimate Revision • Nov 18
Consensus revenue estimates decrease by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast fell from ₹185.2b to ₹166.0b. EPS estimate unchanged at ₹21.40 per share. Net income forecast to shrink 23% next year vs 5.3% growth forecast for Gas Utilities industry in India . Consensus price target down from ₹343 to ₹335. Share price was steady at ₹300 over the past week. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹4.62 (vs ₹4.99 in 2Q 2025) Second quarter 2026 results: EPS: ₹4.62 (down from ₹4.99 in 2Q 2025). Revenue: ₹43.2b (up 8.2% from 2Q 2025). Net income: ₹2.61b (down 7.4% from 2Q 2025). Profit margin: 6.0% (down from 7.1% in 2Q 2025). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 113% p.a. on average during the next 3 years compared to a 2.4% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Ankündigung • Oct 20
Gujarat State Petronet Limited Announces Cessation of Directors, Effective 22 October, 2025 Gujarat State Petronet Limited informed that Dr. Sudhir Kumar Jain (DIN - 03646016), Independent Director and Shri Bhadresh Mehta (DIN - 02625115), Independent Director of the Company will complete their term as Independent Director and consequently, they shall cease to hold office as Independent Directors of the Company with effect from the close of business hours on 22 October, 2025. Ankündigung • Sep 30
Gujarat State Petronet Limited to Report First Half, 2026 Results on Nov 11, 2025 Gujarat State Petronet Limited announced that they will report first half, 2026 results on Nov 11, 2025 Declared Dividend • Aug 27
Dividend of ₹5.00 announced Dividend of ₹5.00 is the same as last year. Ex-date: 10th September 2025 Payment date: 23rd October 2025 Dividend yield will be 1.7%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (25% earnings payout ratio) and cash flows (16% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 31% over the next 3 years. However, it would need to fall by 72% to increase the payout ratio to a potentially unsustainable range. Major Estimate Revision • Aug 19
Consensus revenue estimates fall by 18% The consensus outlook for revenues in fiscal year 2026 has deteriorated. 2026 revenue forecast decreased from ₹202.9b to ₹167.3b. EPS estimate fell from ₹20.20 to ₹15.90 per share. Net income forecast to shrink 24% next year vs 2.3% growth forecast for Gas Utilities industry in India . Consensus price target down from ₹366 to ₹355. Share price was steady at ₹307 over the past week. Reported Earnings • Aug 13
First quarter 2026 earnings released: EPS: ₹5.58 (vs ₹6.65 in 1Q 2025) First quarter 2026 results: EPS: ₹5.58 (down from ₹6.65 in 1Q 2025). Revenue: ₹44.0b (down 6.9% from 1Q 2025). Net income: ₹3.15b (down 16% from 1Q 2025). Profit margin: 7.1% (down from 7.9% in 1Q 2025). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 115% p.a. on average during the next 3 years compared to a 3.7% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Ankündigung • Jul 16
Gujarat State Petronet Limited to Report Q1, 2026 Results on Aug 12, 2025 Gujarat State Petronet Limited announced that they will report Q1, 2026 results on Aug 12, 2025 Reported Earnings • May 23
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: ₹19.69 (down from ₹29.41 in FY 2024). Revenue: ₹184.2b (up 6.5% from FY 2024). Net income: ₹11.1b (down 33% from FY 2024). Profit margin: 6.0% (down from 9.6% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.0%. Revenue is expected to fall by 125% p.a. on average during the next 3 years compared to a 3.2% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Major Estimate Revision • Mar 01
Consensus EPS estimates increase by 13% The consensus outlook for fiscal year 2025 has been updated. 2025 consensus EPS increased from ₹19.00 to ₹21.40. Revenues were reaffirmed at ₹182.4b. Net income forecast to shrink 43% next year vs 3.8% decline forecast for Gas Utilities industry in India. Consensus price target of ₹373 unchanged from last update. Share price fell 5.0% to ₹272 over the past week. Board Change • Mar 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. MD & Chairman Pankaj Joshi was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 08
Third quarter 2025 earnings released: EPS: ₹4.15 (vs ₹7.00 in 3Q 2024) Third quarter 2025 results: EPS: ₹4.15 (down from ₹7.00 in 3Q 2024). Revenue: ₹46.4b (up 5.6% from 3Q 2024). Net income: ₹2.34b (down 41% from 3Q 2024). Profit margin: 5.1% (down from 9.0% in 3Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 95% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Ankündigung • Feb 03
Gujarat State Petronet Limited Announces Cessation of Raj Kumar as Director Gujarat State Petronet Limited announced cessation of Shri Raj Kumar, IAS as director. Date of resignation is 31 January 2025. Ceased to be director due to his Superannuation as Chief Secretary to Government of Gujarat vide GAD Notification No. AIS/35.2025/08/G, dated 24 January 2025. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹325, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 14x in the Gas Utilities industry in India. Total returns to shareholders of 11% over the past three years. Reported Earnings • Nov 08
Second quarter 2025 earnings released: EPS: ₹4.99 (vs ₹8.06 in 2Q 2024) Second quarter 2025 results: EPS: ₹4.99 (down from ₹8.06 in 2Q 2024). Revenue: ₹42.3b (flat on 2Q 2024). Net income: ₹2.82b (down 38% from 2Q 2024). Profit margin: 6.7% (down from 11% in 2Q 2024). Revenue is expected to fall by 125% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Ankündigung • Sep 25
Gujarat State Petronet Limited Announces Directorate Changes Gujarat State Petronet Limited informed that Prof. Yogesh Singh (DIN:06600055) and Dr. Bakul Dholakia (DIN:00005754) have completed their term as Independent Directors and consequently, ceased to be idependent Directors of the Company with effect from the close of business hours on 24th September,2024. Price Target Changed • Sep 02
Price target increased by 9.7% to ₹370 Up from ₹337, the current price target is an average from 23 analysts. New target price is 19% below last closing price of ₹460. Stock is up 66% over the past year. The company is forecast to post earnings per share of ₹13.04 for next year compared to ₹29.41 last year. Valuation Update With 7 Day Price Move • Aug 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹377, the stock trades at a forward P/E ratio of 29x. Average forward P/E is 17x in the Gas Utilities industry in India. Total returns to shareholders of 12% over the past three years. Declared Dividend • Aug 24
Dividend of ₹5.00 announced Dividend of ₹5.00 is the same as last year. Ex-date: 6th September 2024 Payment date: 18th October 2024 Dividend yield will be 1.5%, which is lower than the industry average of 1.7%. Sustainability & Growth Dividend is well covered by both earnings (17% earnings payout ratio) and cash flows (18% cash payout ratio). The dividend has increased by an average of 17% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to decline by 69% over the next 3 years. However, it would need to fall by 81% to increase the payout ratio to a potentially unsustainable range. Ankündigung • Aug 22
Gujarat State Petronet Limited, Annual General Meeting, Sep 19, 2024 Gujarat State Petronet Limited, Annual General Meeting, Sep 19, 2024, at 15:00 Indian Standard Time. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: ₹6.65 (vs ₹5.94 in 1Q 2024) First quarter 2025 results: EPS: ₹6.65 (up from ₹5.94 in 1Q 2024). Revenue: ₹49.6b (up 21% from 1Q 2024). Net income: ₹3.75b (up 12% from 1Q 2024). Profit margin: 7.6% (down from 8.2% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue is expected to fall by 139% p.a. on average during the next 3 years compared to a 3.1% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 2% per year. Ankündigung • Aug 03
Gujarat State Petronet Limited Announces Resignation of Mamta Verma as Director Gujarat State Petronet Limited announced that Smt. Mamta Verma, IAS Ceased to be director due to transfer as Principal Secretary, Industries and Mines Department, Govt. of Gujarat and on relinquishing the charge of the post of Principal Secretary, Energy & Petrochemicals Department, Govt. of Gujarat. The Company has received the copy of resignation on 2 August, 2024. Ankündigung • Jun 25
Gujarat State Petronet Limited to Report Q1, 2025 Results on Aug 08, 2024 Gujarat State Petronet Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Major Estimate Revision • May 15
Consensus EPS estimates increase by 34%, revenue downgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast fell from ₹185.9b to ₹184.0b. EPS estimate rose from ₹22.20 to ₹29.70. Net income forecast to shrink 56% next year vs 6.6% growth forecast for Gas Utilities industry in India . Consensus price target down from ₹348 to ₹337. Share price was steady at ₹291 over the past week. Reported Earnings • May 09
Full year 2024 earnings released: EPS: ₹29.41 (vs ₹29.09 in FY 2023) Full year 2024 results: EPS: ₹29.41 (up from ₹29.09 in FY 2023). Revenue: ₹180.8b (flat on FY 2023). Net income: ₹16.6b (up 1.1% from FY 2023). Profit margin: 9.2% (up from 9.1% in FY 2023). Revenue is expected to fall by 134% p.a. on average during the next 3 years compared to a 1.6% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Ankündigung • May 09
Gujarat State Petronet Limited Recommends Dividend for the Financial Year 2023-2024 Gujarat State Petronet Limited at its board meeting held on May 8, 2024, recommended the dividend of INR 5 per equity share of INR 10 each for the financial year 2023-2024. Price Target Changed • Apr 23
Price target decreased by 8.8% to ₹356 Down from ₹390, the current price target is an average from 22 analysts. New target price is 18% above last closing price of ₹301. Stock is up 13% over the past year. The company is forecast to post earnings per share of ₹23.35 for next year compared to ₹29.09 last year. Major Estimate Revision • Apr 23
Consensus revenue estimates fall by 17% The consensus outlook for revenues in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from ₹173.2b to ₹143.9b. EPS estimate fell from ₹30.05 to ₹28.55 per share. Net income forecast to shrink 34% next year vs 8.4% growth forecast for Gas Utilities industry in India . Consensus price target down from ₹385 to ₹351. Share price fell 23% to ₹301 over the past week. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹304, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Gas Utilities industry in India. Total returns to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹195 per share. Ankündigung • Mar 26
Gujarat State Petronet Limited Announces Cessation of Shridevi Shukla as Woman Independent Director Gujarat State Petronet Limited announced that Smt. Shridevi Shukla has completed her term as Woman Independent Director and consequently, ceased to be Woman Independent Director of the Company w.e.f. the close of business hours on March 26, 2024. Price Target Changed • Feb 16
Price target increased by 7.8% to ₹372 Up from ₹345, the current price target is an average from 21 analysts. New target price is approximately in line with last closing price of ₹378. Stock is up 37% over the past year. The company is forecast to post earnings per share of ₹21.64 for next year compared to ₹29.09 last year. Valuation Update With 7 Day Price Move • Jan 25
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹361, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 16x in the Gas Utilities industry in India. Total returns to shareholders of 90% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at ₹171 per share. Reported Earnings • Nov 07
Second quarter 2024 earnings released: EPS: ₹8.06 (vs ₹7.73 in 2Q 2023) Second quarter 2024 results: EPS: ₹8.06 (up from ₹7.73 in 2Q 2023). Revenue: ₹44.6b (flat on 2Q 2023). Net income: ₹4.55b (up 4.3% from 2Q 2023). Profit margin: 10% (in line with 2Q 2023). Revenue is expected to fall by 88% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Board Change • Sep 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Nominee Director Arti Kanwar was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Aug 25
Upcoming dividend of ₹5.00 per share at 1.8% yield Eligible shareholders must have bought the stock before 01 September 2023. Payment date: 14 October 2023. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 1.8%. Within top quartile of Indian dividend payers (1.4%). Lower than average of industry peers (2.1%). Ankündigung • Aug 19
Gujarat State Petronet Limited Announces Appointment of Arti Kanwar as Nominee Director Gujarat State Petronet Limited announced appointment of Ms. Arti Kanwar, IAS with effect from 11m August, 2023 as Nominee Director of Cujarat State Petroleum Corporation Limited, Promoter of the Company on the Board of Directors of Gujarat State Petronet Limited. Ms. Arti Kanwar, IAS, is 2001 batch IAS officer. She has done MA in History and Masters in International Development Policy, Duke University, USA. Presently, she has been appointed as Secretary (Economic Affairs), Finance Department to the Government of Gujarat. She is having rich experience in various area of administration and State Tax etc. She has also worked as Municipal Commissioner Rajkot, Dist. Collector Bharuch, State Project Director, Commissioner Director Commercial Tax, Government of Gujarat and also severing as Residential Commissioner, Government of Gujarat. Ankündigung • Aug 12
Gujarat State Petronet Limited, Annual General Meeting, Sep 14, 2023 Gujarat State Petronet Limited, Annual General Meeting, Sep 14, 2023, at 15:00 Indian Standard Time. Ankündigung • Aug 10
Gujarat State Petronet Limited Announces Resignation of Shri J P. Gupta as Director Gujarat State Petronet Limited informed that Shri J P. Gupta, IAS (DIN: 01952821) has resigned as Director from the Board of Directors of the Company on account of changes made by Finance Department, Government of Gujarat vide its Order His resignation is effective from 9 August, 2023. Reported Earnings • Aug 05
First quarter 2024 earnings released: EPS: ₹5.94 (vs ₹8.39 in 1Q 2023) First quarter 2024 results: EPS: ₹5.94 (down from ₹8.39 in 1Q 2023). Revenue: ₹42.9b (down 23% from 1Q 2023). Net income: ₹3.35b (down 29% from 1Q 2023). Profit margin: 7.8% (down from 8.5% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is expected to fall by 107% p.a. on average during the next 3 years compared to a 8.1% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • May 13
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₹29.09 (up from ₹29.04 in FY 2022). Revenue: ₹188.0b (up 4.5% from FY 2022). Net income: ₹16.4b (flat on FY 2022). Profit margin: 8.7% (down from 9.1% in FY 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.3%. Earnings per share (EPS) missed analyst estimates by 2.1%. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Gas Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 16% per year, which means it is tracking significantly ahead of earnings growth. Ankündigung • May 07
Gujarat State Petronet Limited Approves Appointment of Smt. Mamta Verma as Nominee Director Gujarat State Petronet Limited announced that the board of directors of the company has approved appointment of Smt. Mamta Verma, IAS with effect from 4 May 2023 as nominee director of the company, Promoter of the company on the board of directors of the company. Buying Opportunity • Apr 17
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 3.1%. The fair value is estimated to be ₹334, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 1.5% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Buying Opportunity • Mar 29
Now 21% undervalued Over the last 90 days, the stock is up 3.1%. The fair value is estimated to be ₹334, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 1.5% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Major Estimate Revision • Feb 20
Consensus revenue estimates decrease by 13%, EPS upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₹202.4b to ₹177.0b. EPS estimate increased from ₹27.30 to ₹29.70 per share. Net income forecast to grow 4.6% next year vs 12% growth forecast for Gas Utilities industry in India. Consensus price target broadly unchanged at ₹335. Share price rose 2.6% to ₹273 over the past week. Buying Opportunity • Feb 16
Now 20% undervalued Over the last 90 days, the stock is up 12%. The fair value is estimated to be ₹334, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years, while earnings per share has been flat. Revenue is forecast to grow by 1.1% in 2 years. Earnings is forecast to grow by 14% in the next 2 years. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹6.37 (vs ₹5.22 in 3Q 2022) Third quarter 2023 results: EPS: ₹6.37 (up from ₹5.22 in 3Q 2022). Revenue: ₹41.8b (down 24% from 3Q 2022). Net income: ₹3.59b (up 22% from 3Q 2022). Profit margin: 8.6% (up from 5.4% in 3Q 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Gas Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 5% per year. Ankündigung • Feb 02
Gujarat State Petronet Limited Announces the Resignation of Shri Pankaj Kumar as Managing Director Gujarat State Petronet Limited announced the resignation of Shri Pankaj Kumar as Managing Director, consequent to superannuation as Chief Secretary to Govt. of Gujarat. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improved over the past week After last week's 16% share price gain to ₹273, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 13x in the Gas Utilities industry in Asia. Total returns to shareholders of 29% over the past three years. Upcoming Dividend • Aug 25
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 01 September 2022. Payment date: 21 October 2022. Payout ratio is a comfortable 7.0% and this is well supported by cash flows. Trailing yield: 0.8%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (1.0%). Major Estimate Revision • Aug 11
Consensus revenue estimates fall by 13% The consensus outlook for revenues in 2023 has deteriorated. 2023 revenue forecast decreased from ₹228.5b to ₹199.1b. EPS estimate fell from ₹41.28 to ₹28.25 per share. Net income forecast to grow 3.3% next year vs 4.6% growth forecast for Gas Utilities industry in India. Consensus price target down from ₹337 to ₹322. Share price was steady at ₹236 over the past week. Reported Earnings • Aug 05
First quarter 2023 earnings released: EPS: ₹8.39 (vs ₹9.03 in 1Q 2022) First quarter 2023 results: EPS: ₹8.39 (down from ₹9.03 in 1Q 2022). Revenue: ₹56.9b (up 66% from 1Q 2022). Net income: ₹4.73b (down 7.1% from 1Q 2022). Profit margin: 8.3% (down from 15% in 1Q 2022). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 13%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 3% per year. Board Change • Aug 02
High number of new directors Nominee Director Raj Kumar was the last director to join the board, commencing their role in 2022. Buying Opportunity • Jul 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be ₹285, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 3.0% in the next 2 years. Buying Opportunity • Jun 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be ₹283, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Earnings per share has grown by 12%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 3.0% in the next 2 years. Reported Earnings • May 16
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: ₹29.04 (up from ₹28.48 in FY 2021). Revenue: ₹179.9b (up 56% from FY 2021). Net income: ₹16.4b (up 2.0% from FY 2021). Profit margin: 9.1% (down from 14% in FY 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%. Over the next year, revenue is forecast to grow 36%, compared to a 14% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 10% per year. Major Estimate Revision • May 14
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from ₹178.3b to ₹244.5b. EPS estimate unchanged from ₹36.78 at last update. Gas Utilities industry in India expected to see average net income growth of 9.7% next year. Consensus price target down from ₹372 to ₹361. Share price fell 2.8% to ₹250 over the past week. Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Tapan Ray was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 13
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹5.22 (down from ₹8.34 in 3Q 2021). Revenue: ₹54.9b (up 67% from 3Q 2021). Net income: ₹2.95b (down 37% from 3Q 2021). Profit margin: 5.4% (down from 14% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 45%. Over the next year, revenue is forecast to grow 5.5%, compared to a 11% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 23% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 12
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from ₹162.8b to ₹181.8b. EPS estimate unchanged from ₹31.15 at last update. Gas Utilities industry in India expected to see average net income growth of 13% next year. Consensus price target broadly unchanged at ₹396. Share price fell 6.6% to ₹298 over the past week. Board Change • Jan 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Nominee Director J. Gupta was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 04
Second quarter 2022 earnings released: EPS ₹7.06 (vs ₹8.84 in 2Q 2021) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹41.8b (up 40% from 2Q 2021). Net income: ₹3.98b (down 20% from 2Q 2021). Profit margin: 9.5% (down from 17% in 2Q 2021). The decrease in margin was driven by higher expenses.