Buy Gujarat State Petronet; target of Rs 360: ICICI Direct
ICICI Direct is bullish on Gujarat State Petronet recommended buy rating on the stock with a target price of Rs 360 in its research report dated June 04, 2021.
June 08, 2021 / 06:35 PM IST
ICICI Direct's research report on Gujarat State Petronet
Gujarat State Petronet’s (GSPL) operating revenue for Q4FY21 fell 21.9% YoY to Rs 485 crore on account of decline in transmission volume. Gas transmission volumes dipped 8% YoY to 33.8 mmscmd mainly owing to reduced offtake from power and refineries sector. EBITDA came in at Rs 344.2 crore, down 3.2% YoY as decline was limited due to lower other expenses. Subsequently, reported PAT was at Rs 206.3 crore, down 8.6% YoY.
Hence, we maintain BUY and arrive at a target price of Rs 360/share (earlier Rs 285).
For all recommendations report, click here
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