Gujarat Energy (GUJENERGY) Q4 22/23 earnings summary

Executive summary

• FY23 standalone PAT reached a record ₹1,525.47 crore, up 19% YoY; CNG volumes and customer additions also hit records. Debt-free status followed ₹446.60 crore of long-term loan prepayments.

• Consolidated revenue was ₹17,306.16 crore and PAT was ₹1,528.38 crore; proposed final dividend was ₹6.65/share.

Financial highlights

• Standalone revenue from operations was ₹17,306.16 crore vs ₹16,787.35 crore in FY22; total income reached ₹17,407.43 crore.

• Standalone profit before tax was ₹2,024.65 crore vs ₹1,713.41 crore; PAT was ₹1,525.47 crore vs ₹1,285.64 crore.

• Consolidated PAT was ₹1,528.38 crore vs ₹1,287.37 crore; consolidated EPS was ₹22.20 vs ₹18.70.

• Operating cash flow was ₹2,377.96 crore vs ₹1,661.76 crore; capital expenditure cash outflow was ₹1,086.73 crore.

• FY22 included ₹11.90 crore exceptional stamp duty on the Amritsar and Bhatinda business transfer; no exceptional item was recorded in FY23.

Outlook and guidance

• FY24 plans include 61 new CNG stations, including 39 in new geographical areas, and four LNG storage and regasification facilities.

• Plans include commissioning biogas injection at two locations by FY24 and proposing a phased increase in hydrogen blending to 20% by FY25.

• Longer-term strategy targets deeper PNG and CNG penetration, expansion into new licensed areas and digitization of core processes.