Buy Gujarat Gas Co - Firstcall Research Report

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Gujarat Gas Company has been recommended by Firstcall Research in its September 2011 report for a possible target of Rs. 501 in medium term.

The company’s net sales and net profit are expected to grow at a CAGR of 24% and 32% over FY10 to FY13E. GGCL distributes gas to about 325,000 industrial, commercial and domestic customers through a pipeline network of approximately 3850 kms and CNG to over 153,000 vehicles through 42 retail outlets.

At the CMP of Rs 436 the stock is available at approximately 14 PE multiple based on FY-12 expected EPS of Rs. 31.27.

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