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Quote on Gujarat Gas Q1FY22 result by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote on Gujarat Gas Q1FY22 result by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Gujarat Gas reported a strong set of numbers for Q1FY2022.
The company has reported revenue from operation at ₹3,065 crores, up by 176% YoY, as Q1FY21 was a low base due to covid.
Company reported very strong EBITDA margins of 24% which is better than the estimates. Gujarat gas has seen continuous improvement in gas demand from the Industrial segment, in Q1FY22 it reached at 708 mmscm. Company has added 11 gas stations in Q1FY22. Total sales volumes for the quarter stood at 10.01 mmscmd. We have a neutral view on Gujarat gas as we belives all the positive has been priced in.
Above views are of the author and not of the website kindly read disclaimer
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
