Gas Distribution · GUJENERG
Gas Distribution
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Gujarat Energy Ltd reported a strong Q1FY27 performance supported by a sharp recovery in gas volumes and robust gas trading, though propane competition overhang is expected to persist. We maintain our HOLD rating with an SOTP-based target price of Rs319.
Gujarat Energy reported a strong 1QFY27 driven by Morbi rebound and trading gains. We reiterate our BUY rating with an SoTP based target price of INR360/sh.
GEL reported an EBITDA beat driven by strong performance from its Trading business, though ease in propane supply is expected to drag Morbi volumes lower. We value the company on an SOTP basis, arriving at a target price of INR275 and maintaining a Hold rating.
Morbi rebound and trading gains drove a strong 1QFY27, with EBITDA coming in 9% above estimates at INR13b. We reiterate our BUY rating on the stock with an SoTP-based target price of INR360.
Gujarat Energy reported a strong Q1FY27 EBITDA beat driven by record gas trading and higher CGD margins, prompting an upgrade to BUY from HOLD with a revised target price of INR 345.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
