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20.10.2019

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:

GUJARAT STATE PETRONET LTD
(CMP 209)
 ENTER LEVEL – 200 TO 203 STOP LOSS 180 TARGET 400-500 IN 48 MONTHS

GSPL, a GSPC Group company is a pioneer in developing energy transportation infrastructure and connecting natural gas supply sources including LNG terminals to growing markets. GSPL is continuously expanding its pipeline network currently in Gujarat to reach the demand centres by laying gas pipeline network. The company has developed requisite expertise and confidence with proven project management competencies. GSPL is first  Pipeline Company in India operating on open access basis and is a pure transmission network. The suppliers of natural gas include traders, producers and LNG terminals. The users comprise industries such as power, fertilizer, steel, chemical plants and local distribution companies. Company is having 2692 kms (as on 31st March,2019) of gas pipeline commissioned from Vapi- Hazira-Vadodara-Ahmedabad-Kalol-Himmat nagar-Mehsana-Palanpur- Rajkot-Morbi-Anjar-Jamnagar-Jafrabad. Presently, the company transports over 35 MMSCMD of natural gas.
It has an equity base of just Rs.564.01crore that is supported by reserve of around Rs.2731.26crore. Promoters hold 37.64%, FIIs hold 15.7%, Mutual Funds hold 18.77%, LIC hold 3.97%, ICICI Life hold 1.43%, State government owned corporate bodies hold 10.98%, GNFC hold 1.42% while investing public hold 10.09% stake in the company.

Company had posted excellent numbers for FY19. Its PAT zoomed 34.71% Rs.998.6crore as against Rs.741.31crore in FY18 on 28.64% higher income of Rs.9553.26crore fetching an EPS of Rs.17.71. It had reported strong numbers for Q1FY20 also. Its PAT zoomed 53.48% to Rs.331.76crore against Rs.216.16crore on 43.85% higher sales of Rs.3077.83crore fetching an EPS of Rs.5.88.Currently, the stock trades at a P/E of just 10.85x. It has paid 20% dividend for FY19.

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