Company Valuation: Gujarat Gas Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 3,78,236 3,46,432 3,16,384 3,74,656 2,83,858 2,22,797 - -
Change - -8.41% -8.67% 18.42% -24.24% -21.51% - -
Enterprise Value (EV) 1 3,82,726 3,50,129 3,09,574 3,65,395 2,80,264 2,16,585 2,13,335 2,08,991
Change - -8.52% -11.58% 18.03% -23.3% -22.72% -1.5% -2.04%
P/E ratio 29.6x 26.9x 20.7x 32.8x 24.7x 19.9x 18x 15.6x
PBR 8.38x 6.15x 4.5x 4.85x 3.34x 2.43x 2.23x 2.04x
PEG - 41.61x 1.1x -1.3x 58.61x -7.3x 1.7x 1x
Capitalization / Revenue 3.84x 2.11x 1.89x 2.39x 1.72x 1.5x 1.33x 1.2x
EV / Revenue 3.88x 2.13x 1.85x 2.33x 1.7x 1.46x 1.27x 1.13x
EV / EBITDA 18.3x 16.9x 12.9x 19.5x 14.9x 11.9x 10.5x 9.1x
EV / EBIT 21.9x 20.7x 15.8x 26.1x 20.5x 16.5x 14.6x 12.7x
EV / FCF 42.3x 119x 24x 45.9x 26.6x 33.6x 23.8x 17.3x
FCF Yield 2.36% 0.84% 4.16% 2.18% 3.76% 2.97% 4.2% 5.78%
Dividend per Share 2 2 2 6.65 5.66 5.82 5.491 6.285 7.21
Rate of return 0.36% 0.4% 1.45% 1.04% 1.41% 1.7% 1.94% 2.23%
EPS 2 18.56 18.68 22.2 16.61 16.68 16.23 17.94 20.81
Distribution rate 10.8% 10.7% 30% 34.1% 34.9% 33.8% 35% 34.6%
Net sales 1 98,542 1,64,562 1,67,594 1,56,902 1,64,870 1,48,685 1,67,577 1,85,170
EBITDA 1 20,878 20,763 23,920 18,764 18,798 18,228 20,259 22,957
EBIT 1 17,470 16,914 19,637 14,021 13,691 13,138 14,570 16,482
Net income 1 12,777 12,856 15,284 11,437 11,483 11,193 12,360 14,341
Net Debt 1 4,490 3,697 -6,810 -9,261 -3,594 -6,212 -9,463 -13,807
Reference price 2 549.45 503.25 459.60 544.25 412.35 323.65 323.65 323.65
Nbr of stocks (in thousands) 6,88,390 6,88,390 6,88,390 6,88,390 6,88,390 6,88,390 - -
Announcement Date 01/06/21 10/05/22 10/05/23 06/05/24 19/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.95x1.46x11.88x1.7% 239.55Cr
22.85x3.39x14.81x4.8% 1.74TCr
14.46x7.74x10.11x4.51% 1.26TCr
11.52x0.57x4.35x4.95% 943.08Cr
9.99x0.68x6.15x5.07% 927.04Cr
9.57x0.26x3.04x4.77% 817.68Cr
12.12x - - 3.95% 814.33Cr
22.25x5.15x12.03x2.74% 674.29Cr
17.57x4.42x13.02x3.36% 574.41Cr
Average 15.59x 2.96x 9.42x 3.98% 887.3Cr
Weighted average by Cap. 15.73x 3.26x 9.65x 4.34%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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