{"id":356874,"date":"2020-06-11T12:22:55","date_gmt":"2020-06-11T06:52:55","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=356874"},"modified":"2020-06-11T12:22:55","modified_gmt":"2020-06-11T06:52:55","slug":"analyst-corner-gspl-sell-stays-with-revised-fair-value-of-rs-210","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/analyst-corner-gspl-sell-stays-with-revised-fair-value-of-rs-210\/","title":{"rendered":"Analyst corner: GSPL: \u2018Sell\u2019 stays with revised fair value of Rs 210"},"content":{"rendered":"<p>GSPL\u2019S STANDALONE earnings peaked out in FY2020 boosted by lower tax, while EBITDA increased modestly by<br \/>\n2% despite a healthy 9% growth in volumes. We expect earnings to decline meaningfully hereon led by tax-related 11% cut in tariffs in FY2021, lower volumes due to Covid- 19 impact in near term and reduction in LNG off-take by RIL in medium term and sharp 20%+ cut in tariffs in FY2023 in lieu of volume-led-profit surplus for FY2019-22.<\/p>\n<p>\u2018Sell\u2019 stays with a revised FV of Rs 210. The company may face headwinds to industrial volumes, particularly in<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GSPL\u2019S STANDALONE earnings peaked out in FY2020 boosted by lower tax, while EBITDA increased modestly by 2% despite a healthy 9% growth in volumes. We expect earnings to decline meaningfully hereon led by tax-related 11% cut in tariffs in FY2021, lower volumes due to Covid- 19 impact in near term and reduction in LNG off-take by RIL in medium term and sharp 20%+ cut in tariffs in FY2023 in lieu of volume-led-profit surplus for FY2019-22. \u2018Sell\u2019 stays with a revised FV of Rs 210. The company may face headwinds to industrial volumes, particularly in<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-356874","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=356874"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/356874\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=356874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=356874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=356874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}