Gujarat Gas, incorporated in the year 2012, is a Mid Cap company (having a market cap of Rs 32120.28 Crore) operating in Gas & Petroleum sector.
Gujarat Gas key Products/Revenue Segments include Gas Natural and Other Operating Revenue for the year ending 31-Mar-2022.
Financials
The company’s top management includes Mr.Pankaj Kumar, Mr.Sanjeev Kumar, Mr.Milind Torawane, Prof.Yogesh Singh, Mr.Bhadresh Mehta, Mr.Raj Kumar, Mr.Balwant Singh, Dr.Rekha Jain. Company has Manubhai & Shah LLP as its auditors. As on 30-06-2022, the company has a total of 69 Crore shares outstanding.
Investment Rationale
Owing to the challenges faced in CY22, the stock declined 17% during the year and is now trading at a reasonable valuation of 24x one-year forward P/E. Hence, the brokerage reiterates its BUY rating on the stock valuing the stock at 28x Dec’24EEPS to arrive at our TP of INR679.
Promoter/FII Holdings
Promoters held 60.89 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.18 per cent, DIIs 10.01 per cent.
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