External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Gujarat Gas (GUJGA) reported 26/28% YoY decline in EBITDA/PAT to INR 3.8bn/INR 2.2bn (I-Sec est. of INR 4.1/INR 2.3bn) in Q3FY25.</li><li>Volume of 9.5mmscmd vs our estimate of 9.4mmscmd was offset by lower margin (EBITDA margin of INR 4,4/scm vs estimated INR 4.8/scm).</li><li>Morbi volume estimated at ~3.35mmscmd was up 0.5mmscmd QoQ due to relatively better pricing vs propane in Q3, even as YoY trends remain subdued due to continued export softness owing to shipping disruptions/weak demand globally.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Gujarat Gas (GUJGA) reported 26/28% YoY decline in EBITDA/PAT to INR 3.8bn/INR 2.2bn (I-Sec est. of INR 4.1/INR 2.3bn) in Q3FY25.Volume of 9.5mmscmd vs our estimate of 9.4mmscmd was offset by lower margin (EBITDA margin of INR 4,4/scm vs estimated INR 4.8/scm).Morbi volume estimated at ~3.35mmscmd was up 0.5mmscmd QoQ due to relatively better pricing vs propane in Q3, even as YoY trends remain subdued due to continued export softness owing to shipping disruptions/weak demand globally.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gujarat Gas - Flattish Q3FY25 Result; Prospects Look Better for Next 12 Months

Gujarat Gas Ltd

Gujarat Gas - Flattish Q3FY25 Result; Prospects Look Better for Next 12 Months