Gujarat Energy (GUJENERGY) Q4 21/22 earnings summary

Executive summary

• FY22 revenue from operations rose 67% YoY to ₹16,787.35 crore; standalone PAT was ₹1,285.64 crore, while consolidated PAT reached ₹1,287.37 crore.

• Revenue growth reflected higher gas prices and volume recovery; profit increased only modestly as gas input costs and turnover rose.

• Network expansion continued, with 153 new CNG stations, 2 LNG stations and more than 1.54 lakh new domestic connections in FY22.

Financial highlights

• Standalone revenue from operations was ₹16,787.35 crore vs ₹10,057.10 crore; total income ₹16,878.09 crore vs ₹10,128.54 crore.

• Standalone PBT was ₹1,713.41 crore vs ₹1,695.30 crore; PAT ₹1,285.64 crore vs ₹1,268.15 crore; total comprehensive income ₹1,288.33 crore vs ₹1,270.72 crore.

• Consolidated PAT was ₹1,287.37 crore vs ₹1,270.37 crore; consolidated EPS ₹18.70 vs ₹18.45. Standalone EPS was ₹18.68 vs ₹18.42.

• Operating cash flow was ₹1,661.76 crore; investing cash outflow was ₹1,293.54 crore and financing cash outflow ₹628.44 crore.

• An exceptional ₹11.90 crore stamp-duty expense related to the Amritsar and Bhatinda business transfer reduced reported PBT.

Outlook and guidance

• FY22 Indian natural gas consumption increased nearly 7%; demand growth was forecast at nearly 8% in 2022, with high LNG prices a potential headwind.

• Growth plans focus on increasing PNG connections and CNG stations in existing areas while accelerating network rollout across licensed areas.

• Government policy targets a 15% share for natural gas in India’s primary energy mix by 2030; digitization and a broader e-office rollout are also planned.