Gujarat Energy (GUJENERGY) Q4 19/20 earnings summary

Executive summary

• FY20 revenue rose 32.2% YoY to ₹10,526.49 crore; reported PAT increased to ₹1,193.32 crore, including a ₹287 crore deferred-tax benefit from opting for concessional tax rates.

• Operations served 1.44 million residential consumers, 12,600+ commercial customers and 3,700+ industrial units across 42 districts, with a 24,400+ km gas pipeline network.

Financial highlights

• Standalone operating revenue ₹10,526.49 crore vs ₹7,962.48 crore; PBT ₹1,207.78 crore vs ₹593.85 crore; PAT ₹1,193.32 crore vs ₹417.03 crore.

• Total income was ₹10,610.15 crore vs ₹8,073.76 crore; net profit excluding the ₹287 crore deferred-tax impact was not stated.

• EPS was ₹17.33 vs ₹6.06; total comprehensive income was ₹1,189.62 crore vs ₹414.97 crore.

• Operating cash flow was ₹1,422.06 crore vs ₹964.36 crore; cash and cash equivalents closed at ₹547.22 crore vs ₹94.36 crore.

Outlook and guidance

• Management expects gas demand to recover as the economy reopens; industrial and CNG demand had begun to trend upward as restrictions eased.

• Focus remains on PNG and CNG penetration in existing areas and rapid network rollout in newly acquired geographic areas to support future revenue and profit growth.

• Digitization of critical processes limited lockdown disruption; further digitization and a complete E-Office are planned.