Motilal Oswal is bullish on Gujarat State Petronet has recommended buy rating on the stock with a target price of Rs 210 in its research report dated November 04, 2018.
Motilal Oswal's research report on Gujarat State Petronet
The Petroleum and Natural Gas Regulatory Board had increased tariffs with effect from April 2018. The company has fully booked the retrospective impact in 2QFY19, as a result of which, the numbers are not comparable either with estimates or with previous quarter/year. Net sales stood at INR5.98b, EBITDA at INR5.2b and PAT at INR3.2b.
We value the company at 8x FY20E EPS and add valuation of stake in GUJGA to arrive at our target price of INR210. Reiterate Buy.
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