#1GUJARAT GAS તો બનાવીએ પ્રદુષણ મુકત ગુજરાત SERVICE DEMAG CAPACITY 5 MAWP 12.24N60 LNG द्वारा e નાય કારા GNT GAS CNG GUJARAT GAS sige anal आओ बनाये CING INVESTOR PRESENTATION Q1 FY 2024#2Safe harbor statement GUJARAT GAS Statements in this presentation may contain forward-looking information concerning Gujarat Gas Limited ("Gujarat Gas" or "Company")'s strategy, operations, financial performance or condition, outlook, growth opportunities or circumstances in the sectors or markets in which the Company operates. Forward-looking statements can sometimes be identified by the use of forward-looking words such as "may", "believe", "will", "expect", "project", "estimate", "should", "anticipate", "plan", "continue", "seek", "pro forma", "potential", "target", "forecast", "intend" or other similar words or expressions of the negative thereof and by their nature, involve uncertainty because they depend on future circumstances, and relate to events, not all of which are in the Company's control or can be predicted by the Company. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially from those set out in the forward-looking statements. For a detailed analysis of the factors that may affect our business, financial performance or results of operations, we urge you to look at the relevant article on Risk Management included in the Company's latest Annual Report. Presentation is not, and nothing in it should be construed as, an offer, invitation or recommendation in respect of the Company's securities or an offer, invitation or recommendation to sell, or a solicitation of an offer to buy the Company's securities. Neither this presentation nor anything in it shall form the basis of any contract/commitment or in connection with any investment decision. This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. GUMRAT CAS 2#3The Group - presence across natural gas value chain GUJARAT GAS Gujarat State Petroleum Corporation India's leading natural gas trading company Gujarat State Petronet Limited India's second largest natural gas transmission company Gujarat Gas Limited India's leading City Gas Distribution (CGD) company 3#4Gujarat Gas - India's leading CGD Company 27 JOI 36,400+ CGD Authorizations Kms of Gas Pipeline Network* 19.75 Lakh+ 14,500+ PNG Domestic Connections* PNG Commercial Connections* *As on June 30, 2023 810 CNG Stations* 4,300+ PNG Industrial Connections* GUJARAT GAS#5Gujarat Gas - CGD licenses across 6 states & 1 UT Ahmedabad District* ✓ ✓ Amreli District ✓ Anand District* Bhavnagar ✓ Dahej-Vagra Taluka Dahod District ✓ Hazira ✓ Jamnagar ✓ Kutch (West) ✓ Nadiad ✓ Narmada (Rajpipla) District ✓ Navsari Panchmahal District ✓ Rajkot (Including Morbi) Surat Bharuch - Ankleshwar ✓ Surendranagar ✓ Valsad GUJARAT GAS Union Territory of Dadra & Nagar Haveli ✓ Palghar District and Thane Rural Ujjain District*, Dewas District* and Indore District* ✓ Jhabua, Banswara, Ratlam and ✓ Dungarpur Districts Jalore and Sirohi District Sirsa, Fatehabad and Mansa (Punjab) Districts ✓ Amritsar Bhatinda ✓ Ferozepur, Faridkot and Sri Muktsar Sahib Districts Hoshiarpur and Gurdaspur Districts *Except area already authorized Map not to scale, only for reference purpose сл 5#6CNG stations in Gujarat and outside Gujarat across States GUJARAT GAS आओ बनाये CNG GUARAT GS CNG stations* Gujarat Numbers 559 Outside Gujarat viz Punjab, Madhya Pradesh, Rajasthan, Maharashtra, Haryana, UT of Dadra & Nagar Haveli, 251 Total 810 * As on 30 June 2023 AJRAJ PETRO CITY NH-9, DABWALI ROAD, SIRSA 01666-237901 M. 94166-43711 60#7Gas sales (mmscmd) - Q1 FY24 9.7 Total Volume CNG 8.9 9.2 2.4 2.5 2.6 Q1 FY23 Q4 FY23 Q1 FY24 PNG - Industrial 6.6 5.9 0.55 5.4 PNG Domestic - Q1 FY23 Q4 FY23 Q1 FY24 PNG Commercial - GUJARAT GAS 0.83 0.15 0.13 0.13 0.60 Q1 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 Q1 FY24 7#8Standalone financial highlights (Crore) - Q1 FY24 Revenue from Operations 5,303 4,074 3,924 EBITDA 614 578 397 Q1 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 Q1 FY24 509 Profit Before Tax 477 381 289 Profit After Tax 369 Q1 FY23 Q4 FY23 Q1 FY24 Q1 FY23 Q4 FY23 215 Q1 FY24 GUJARAT GAS Q1FY24 & Q1 FY23: Unaudited numbers#9Business updates • GUJARAT GAS 10% volume increase in industrial category in Q1 FY'24 compared to Q4 FY'23, Striking balance between volumes and margins Highest ever CNG volumes of 2.61 mmscmd in Q1 FY'24 on the back of investments in station infrastructure (7% higher than 2.44 mmscmd in Q1 FY'23) Consumer friendly policies to help sustainable growth in CNG & PNG (residential) • APM price capped at $ 6.5 per mmbtu from 8th April 2023 • VAT reduction from 15% to 5% by Government of Gujarat • • • • GGL credit rating upgraded to AAA/Stable (highest rating level) from AA+(Positive outlook) by CRISIL in Dec 2022, India Ratings in April 2023 and Care Ratings in June 2023. Commissioned India's 1st pilot project at a CGD business for green hydrogen blending with PNG domestic supplies at NTPC Kawas township in Surat First EV charging facility commissioned at GGL's CNG station as pilot project Government of Gujarat(GoG)'s announcement of investor friendly policy Prepayment of long term loan of Rs 447 crores during FY 2023 making GGL a debt free company 6#10Shareholding pattern 5.49% 5.79% 7.91% 8.44% 4.47% 7.01% GUJARAT GAS 60.89% Promoter Group Gujarat State Petronet Ltd. % of Share Holding 54.17% Government of Gujarat 6.53% Gujarat State Energy Generation Ltd. Promoters' Shareholding 0.19% 60.89% ■ Promoter Group Shareholding ■Companies where Government is a promoter Foreign Portfolio Investors *As on June 30, 2023 ■ Mutual Funds ■■Bodies Corporate ■Resident Individuals ■ Others 10#11Key operational indicators - cumulative additions Industrial customers Ĥ Domestic customers (in lakhs) 4,316 4,365 4,036 3,777 3,541 19.3 17.1 15.5 14.5 13.5 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 CNG 808 711 559 403 344 M Commercial customers 14,394 13,619 13,126 12,629 12,320 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 GUJARAT GAS 11#12Gas sales (mmscmd) Industrial 4.5 7.9 7.3 7.4 Domestic 0.68 0.68 0.65 0.57 0.53 5.1 * FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 CNG Commercial 2.4 0.11 0.11 2.0 1.4 1.5 0.08 1.3 FY19 FY20 FY21 FY22 FY23 * Lower volume in Morbi due to exceptionally high LNG prices 0.14 0.12 FY19 FY20 FY21 FY22 FY23 GUJARAT GAS 12#13Standalone financial performance Revenue from Operations (Crore) 7,962 FY19 417 CAGR 21% Profit After Tax (* Crore) CAGR 38% 17,306 1,006 FY23 FY19 1,525 4.2 EBITDA (Crore) CAGR 25% EBITDA (*/scm) CAGR 17% FY19 FY23 FY19 The Company has opted for concessional tax rate with effect from April 01, 2019 as permitted under section 115 BAA of the Income Tax Act, 1961 2,442 FY23 8.0 GUJARAT GAS FY23 13#14Improved debt profile - prepayment in FY 23; now debt free Debt (Crore) 2,213 1,998 FY19 FY20 897 FY21 Debt/Equity (X) Debt/EBITDA (X) GUJARAT GAS 478 1.0 0.6 h.. h.. 0.2 0.1 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 988 Crore in FY21, Prepayment of 95 Crore in FY20, 327 Crore in FY22 and 447 Crore in FY23 Debt numbers are at gross level 14#15Shareholders' value creation Capex (Crore) CFO (Crore) * 2378 1659 1662 1422 1161 1098 20% 964 809 578 540 FY19 FY20 FY21 FY22 FY23 Earning Per Share (*) -Dividend % per face value Dividend Per Share (*) 22.16 18.42 18.68 333% 17.33 Return on Equity 42% GUJARAT GAS 32% 25% 24% FY19 FY20 FY21 FY22 FY23 Market Capitalization (Crore) 37,824 34,602 31,645 15,891 100% 6.06 -100% 6.65 10,195 63% -50% 1.00 1.25 2.00 2.00 31-03-2019 31-03-2020 31-03-2021 31-03-2022 31-03-2023 FY19 FY20 FY21 FY22 FY23 ** Face value per share (*)2 . ** = CFO Cash flow from operating activities Dividend to be approved by share holders 15#16Growth opportunities • Accelerating intrinsic growth in existing areas: ■ New volume growth from Government's industrialisation efforts (Vibrant Gujarat, DMIC/ DFC, Dholera SIR, new investment zones, etc.) To fast-track investment in high potential markets like Thane Rural, Ahmedabad district, UT of DNH, Jhagadia Phase II etc. Conducive investment policies encouraging investment in green zones • Expand CNG infrastructure to cover major towns/ villages/highways • CNG in LCV/HCV/dumpers New gas based applications to aid volume growth e.g. ship breaking in Alang, foundaries Maximising adoption of ITeS / IoT for being future ready & cost optimisation Sustainable long term growth from new markets won in 9 & 10th round GUJARAT GAS 16#17Recognition For Operational Excellence Winner Business Today India's Best CEO Award 2020 Winner Star PSU Award The Economic Times Energy Leadership Award 2022 17 *In 2022, Ásia (ex-Japan), in the power category (electric, gas, water) Winner Business Today India's Best CEO Award 2021 Winner Business Standard Star PSU Award Annual Awards 2020 in the Oil and Gas Sector GUJARAT GAS ENERGY LEADERSHIP AWARDS 2022 STAR PSU of the Yeur Ranked Top Institutional Investor* Best ESC Best IR Programme Gujarat Gas Limited#18Green Hydrogen Blending with PNG at NTPC, Kawas NG in ing GUJARAT GAS 0:00 CNG Station யெயா கேட் 1676 ral Gas Skid Domest Thank You