Company Valuation: Gujarat State Petronet Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 1,54,227 1,46,159 1,49,516 2,01,141 1,64,355 1,65,822 - -
Change - -5.23% 2.3% 34.53% -18.29% 0.89% - -
Enterprise Value (EV) 1 1,56,597 1,45,767 1,41,424 1,86,748 1,45,048 1,15,245 1,22,153 1,17,706
Change - -6.92% -2.98% 32.05% -22.33% -20.55% 5.99% -3.64%
P/E ratio 16.7x 14.5x 15.8x 15.7x 20.4x 22.5x 20.9x 19.5x
PBR 2.04x 1.73x 1.77x 1.96x 1.52x 1.47x 1.4x 1.33x
PEG - 1.56x -2.46x 0.4x -0.5x -2.64x 2.86x 2.74x
Capitalization / Revenue 7.42x 7.24x 8.49x 9.9x 14.8x 15x 13.6x 12.8x
EV / Revenue 7.53x 7.22x 8.03x 9.19x 13.1x 10.4x 10x 9.07x
EV / EBITDA 10.6x 10.4x 11.2x 12.4x 17.9x 15.9x 14.8x 13.2x
EV / EBIT 12.3x 12.1x 13.3x 14.2x 23.9x 22.1x 20.2x 18.2x
EV / FCF 13.9x 14.6x 18.2x 24.7x 20.3x 26.1x 27.2x 28.4x
FCF Yield 7.21% 6.83% 5.5% 4.05% 4.92% 3.83% 3.68% 3.53%
Dividend per Share 2 2 2 5 5 5 3.696 4.113 4.274
Rate of return 0.73% 0.77% 1.89% 1.4% 1.72% 1.26% 1.4% 1.45%
EPS 2 16.38 17.9 16.75 22.77 14.31 13.09 14.04 15.04
Distribution rate 12.2% 11.2% 29.9% 22% 34.9% 28.2% 29.3% 28.4%
Net sales 1 20,794 20,200 17,618 20,315 11,108 11,039 12,162 12,976
EBITDA 1 14,733 13,976 12,587 15,041 8,112 7,253 8,232 8,884
EBIT 1 12,703 12,016 10,648 13,121 6,077 5,207 6,046 6,481
Net income 1 9,242 10,097 9,450 12,846 8,076 7,387 7,921 8,484
Net Debt 1 2,370 -392.4 -8,092 -14,394 -19,307 -50,577 -43,669 -48,116
Reference price 2 273.35 259.05 265.00 356.50 291.30 293.90 293.90 293.90
Nbr of stocks (in thousands) 5,64,211 5,64,211 5,64,211 5,64,211 5,64,211 5,64,211 - -
Announcement Date 03/06/21 12/05/22 11/05/23 08/05/24 22/05/25 - - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
22.16x10.24x15.59x1.27% 178.2Cr
23.61x3.46x15.16x4.65% 1.8TCr
15.21x8.66x11.55x4.12% 1.24TCr
10.61x0.73x6.54x4.68% 992.87Cr
12.98x0.58x4.61x5.27% 963.68Cr
11.12x0.31x3.6x4.12% 948.24Cr
11.74x - - 4.08% 788.79Cr
10.68x5.51x17.48x8.34% 668.78Cr
20.21x5.12x11.77x2.91% 633.87Cr
Average 15.37x 4.33x 10.79x 4.38% 912.47Cr
Weighted average by Cap. 15.59x 3.68x 10.49x 4.62%

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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