1 Stock Split, 9 Dividends: Zero-Debt Gas PSU To Consider Dividend, Motilal Oswal Has Buy Rating

Mid cap company from the gas & petroleum sector, Gujarat Gas shares settled in red today with the decline of 0.29% on BSE. Last trading price of Gujarat Gas shares on BSE is Rs 541.90 apiece. The company has market capitalisation of Rs 37,303.86 crore. Gujarat Gas shares surged 20% in last 3-months and rallied again by 20% in last 6-months. The company informed today via BSE filing its plan to consider dividend and financial results. Check details below:

Gujarat Gas To Consider Dividend, Results: As per the BSE filing of the company dated March 18, 2024, "Board of Directors of the Company will be held on th May, 2024, inter alia, to consider and approve the standalone and consolidated Audited Financial Results for the quarter and financial year ended on 31st March, 2024. It is also hereby notified that dividend, if any, for the financial year 2023-24, may be considered at the aforesaid Board Meeting."

The company in the same day will also consider and approve the standalone and consolidated Audited Financial Results for the quarter and financial year ended on 31 st March, 2024.

Gujarat Gas Stock Split History: Gujarat Gas Ltd split the face value 1 time since January 15, 2019. Gujarat Gas last split the face value of its shares from Rs 10 to Rs 2 in 2019.The share has been quoting on an ex-split basis from January 15, 2019.
Gujarat Gas Dividend History: Gujarat Gas announced 9 dividends since December 17, 2015. In last 12 months, Gujarat Gas announced an equity dividend amounting to Rs 6.65 per share. At the current share price of Rs 541.90, Gujarat Gas Ltd's dividend yield is 1.23%.

Gujarat Gas Shares Performance & Return: Last trading price of Gujarat Gas shares on BSE is Rs 541.90 apiece. The 52-week high price of Gujarat Gas stock is Rs 620.60 apiece and 52-week low price is Rs 397.20 apiece, respectively. Gujarat Gas stock declined 8%, gave return of 8% in last 1-year, and offered maximum return in last 5-years at 274%.

Gujarat Gas Financials: The PSU on February 13 declared a decline of 40% in its consolidated net profit to Rs 221 crore for the third quarter of the FY 2023-24 as against the year-ago period. Sequentially, net profit declined 25%. Gujarat Gas announced its net profit at Rs 371 crore in the corresponding quarter of last year. Meanwhile, its revenue from operations soared nearly 7% during the quarter to Rs 4,084 crore for FY 2023-24 as against Rs 3,821 crore in Q3FY23.

For the quarter ended December 31, its sales volumes soared by 26% to 9.16 mmscmd (million metric standard cubic metre per day) from 7.29 mmscmd last year. Gujarat Gas' industrial sales volumes surged to 5.53 mmscmd for the quarter under review from 4.05 mmscmd in the year-ago period, up 36%.

Motilal Oswal Recommends Buy: The analyst has recommended buy call to Gujarat Gas shares with target price of Rs 675 apiece. If you buy Gujarat Gas stock at current market price of Rs 541.90, you can fetch potential return of 24.56%.
About: Gujarat Gas Limited (GGL) is India's largest City Gas Distribution (CGD) Company in terms of sales volume operating in 44 districts in 6 states of Gujarat, Maharashtra, Rajasthan, Haryana, Punjab & Madhya Pradesh and 1 Union territory of Dadra & Nagar Haveli. GGL continues to hold the leadership position in CGD industry in terms of size and scale of operation. The Company operates more than 815 CNG stations and has connected more than 20.5 lakh households, over 14,900 commercial customers and 4,375 industrial customers.

Disclaimer: The stock has been picked from the brokerage report of Motilal Oswal. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.