- The energy sector stock has zoomed 1,043% from its 52-week low of Rs 113.10 hit on May 27, 2020
The stock has zoomed 1,043% from its 52-week low of Rs 113.10 hit on May 27, 2020, till date. On the opposite hand, Sensex and Nifty have gained 65% and 68.25%, respectively in one year.
In comparison, the energy firm’s peers have lagged behind in terms of returns on bourses in one year. While Gail India’s share could rise 77.92%, the stock price of another energy major Petronet LNG clocked a meagre 2.25% gain during an equivalent period.
The share price of another peer firm Indraprastha Gas has risen 13.17% in one year. Share of another firm Gujarat State Petronet has gained 43.36% in one year.
The strong rise within the stock is often attributed to the stellar financial performance of the firm. The firm has recovered strongly from the coronavirus lockdown shock the company India witnessed last year.
For the quarter ended June of last fiscal, the firm reported Rs 46 crore in net income because the effects of Covid- 19 lockdown reflected on the company’s numbers. within the preceding quarter, net income stood at Rs 122 crore.
However, net income came at a robust Rs 135 crore for the quarter ended September 2020.
In the next quarter, the Adani Group firm reported a profit of Rs 145 crore. In the March quarter of the previous fiscal, the firm reported an 18.38% rise in consolidated at Rs 143.73 crore. In fact, the corporate has clocked 42% CAGR growth in net income within the last three years
Sales in Q4 rose 26.44% to Rs 584.48 crore against Rs 462.25 crore within the corresponding period of the previous fiscal.
Similarly, operating profit excluding other income rose 21.86% to Rs 204.67 crore in Q4 against Rs 167.95 crore within the year-ago period.
Operating profit has grown at 24.5% CAGR in the last three years.
On an annual basis, net income rose 6.07% to Rs 462.82 crore for the fiscal ended March 2021 against Rs 436.32 crore within the year-ago period.
Earnings per share in the last fiscal rose to Rs 4.21 in last fiscal against Rs 3.97 within the fiscal ended March 2020. Promoters kept their holding unchanged at 74.8% for the quarter ended March 2021. Mutual funds also kept their stake stable at 0.02% in March 2021 quarter.
However, the number of FII/FPI investors has risen from 111 to 157 within the half-moon. Institutional investors too have raised their holdings from 21.05% to 21.27% in the March quarter.
In early May, the firm said the newest wave of the Covid-19 pandemic within the country will have a short-lived impact on the company’s gas sales volumes, while it sees normalcy to return as soon because the pandemic surge settles.
Addressing a media analyst concall after the announcement of the company’s quarterly and annual financial results, the company’s CEO, Suresh Mangalani, said gas demand was impacted last year because there was a nationwide lockdown early last year.
“This time, a particular section of the country is under lockdown. a number of the others have restricted lockdown. We are definitely seeing some decline. But not the maximum amount as last time that we saw,” Mangalani said.
Adani Total Gas is an India-based company which is in the business of developing of gas. the corporate may be a wholly-owned subsidiary of Adani Enterprises. The firm develops a network for city gas distribution networks to provide piped gas to the economic, commercial, domestic, and compressed gas to the transportation sector.