Gujarat State Petronet Ltd
Gujarat State Petronet Limited is a Public Limited Company incorporated under The Companies Act,1956. Further it is a Government Company u/s 2(45) under the Companies Act,2013.
Gujarat State Petronet Limited alongwith its subsidiaries is primarily engaged in transmission of Natural gas through pipeline. Further it is engaged in business of implementing and operating City Gas Distribution and generation of electricity through windmills. [1]
- Market Cap ₹ 19,107 Cr.
- Current Price ₹ 339
- High / Low ₹ 470 / 260
- Stock P/E 23.7
- Book Value ₹ 191
- Dividend Yield 1.48 %
- ROCE 9.60 %
- ROE 7.67 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 28.9%
- Company's working capital requirements have reduced from 96.8 days to 42.3 days
Cons
- The company has delivered a poor sales growth of -14.0% over past five years.
- Company has a low return on equity of 10.4% over last 3 years.
- Earnings include an other income of Rs.404 Cr.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Gas Distribution Industry: Miscellaneous
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Energy Nifty Smallcap 100
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,051 | 1,065 | 992 | 1,028 | 1,332 | 1,877 | 2,363 | 2,079 | 2,020 | 1,762 | 2,032 | 1,111 | |
| 122 | 136 | 126 | 139 | 184 | 334 | 789 | 612 | 620 | 503 | 527 | 300 | |
| Operating Profit | 929 | 928 | 866 | 888 | 1,148 | 1,543 | 1,574 | 1,467 | 1,400 | 1,259 | 1,504 | 811 |
| OPM % | 88% | 87% | 87% | 86% | 86% | 82% | 67% | 71% | 69% | 71% | 74% | 73% |
| 55 | 39 | 66 | 88 | 73 | 59 | 65 | 69 | 133 | 168 | 335 | 404 | |
| Interest | 142 | 118 | 80 | 60 | 35 | 219 | 164 | 93 | 31 | 5 | 5 | 8 |
| Depreciation | 184 | 189 | 183 | 179 | 175 | 180 | 195 | 203 | 196 | 194 | 192 | 204 |
| Profit before tax | 658 | 660 | 669 | 738 | 1,011 | 1,203 | 1,280 | 1,240 | 1,306 | 1,229 | 1,642 | 1,003 |
| Tax % | 36% | 38% | 33% | 33% | 34% | 34% | 13% | 25% | 23% | 23% | 22% | 20% |
| 419 | 410 | 445 | 497 | 668 | 795 | 1,109 | 924 | 1,010 | 945 | 1,285 | 808 | |
| EPS in Rs | 7.45 | 7.29 | 7.91 | 8.81 | 11.86 | 14.09 | 19.65 | 16.38 | 17.90 | 16.75 | 22.77 | 14.31 |
| Dividend Payout % | 13% | 16% | 19% | 17% | 15% | 14% | 10% | 12% | 11% | 30% | 22% | 35% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 0% |
| 5 Years: | -14% |
| 3 Years: | -18% |
| TTM: | -45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | -6% |
| 3 Years: | -7% |
| TTM: | -37% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 12% |
| 3 Years: | 10% |
| 1 Year: | 15% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 11% |
| 3 Years: | 10% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 563 | 563 | 563 | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 |
| Reserves | 2,732 | 3,060 | 3,506 | 3,932 | 4,501 | 5,180 | 6,158 | 6,981 | 7,879 | 8,709 | 9,706 | 10,219 |
| 1,429 | 1,157 | 1,067 | 631 | 3,058 | 2,366 | 1,630 | 1,030 | 95 | 8 | 8 | 6 | |
| 679 | 760 | 710 | 707 | 826 | 840 | 750 | 797 | 802 | 807 | 802 | 1,204 | |
| Total Liabilities | 5,403 | 5,540 | 5,846 | 5,833 | 8,949 | 8,950 | 9,103 | 9,373 | 9,340 | 10,088 | 11,081 | 11,992 |
| 3,159 | 3,065 | 3,123 | 3,166 | 3,114 | 3,608 | 3,586 | 3,467 | 3,325 | 3,155 | 3,035 | 3,565 | |
| CWIP | 656 | 776 | 768 | 686 | 896 | 419 | 237 | 222 | 253 | 426 | 762 | 282 |
| Investments | 585 | 649 | 731 | 766 | 4,181 | 4,277 | 4,611 | 5,006 | 5,174 | 5,170 | 5,330 | 5,339 |
| 1,002 | 1,050 | 1,224 | 1,216 | 757 | 646 | 669 | 678 | 588 | 1,337 | 1,954 | 2,807 | |
| Total Assets | 5,403 | 5,540 | 5,846 | 5,833 | 8,949 | 8,950 | 9,103 | 9,373 | 9,340 | 10,088 | 11,081 | 11,992 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 645 | 627 | 603 | 944 | 894 | 1,088 | 1,360 | 1,241 | 1,075 | 966 | 1,172 | 938 | |
| -646 | -152 | -321 | -368 | -3,174 | -8 | -310 | -438 | -4 | -702 | -1,016 | -621 | |
| -407 | -474 | -297 | -637 | 2,286 | -1,033 | -1,030 | -809 | -1,082 | -203 | -284 | -284 | |
| Net Cash Flow | -408 | 1 | -15 | -61 | 7 | 48 | 20 | -6 | -11 | 62 | -127 | 33 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 86 | 52 | 56 | 42 | 34 | 40 | 25 | 28 | 23 | 30 | 25 | 36 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 86 | 52 | 56 | 42 | 34 | 40 | 25 | 28 | 23 | 30 | 25 | 36 |
| Working Capital Days | -89 | -81 | -57 | -17 | -361 | -188 | -150 | 19 | 16 | 51 | 197 | 42 |
| ROCE % | 17% | 17% | 15% | 16% | 16% | 18% | 18% | 16% | 15% | 14% | 17% | 10% |
Documents
Announcements
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Performance Highlights Based On The Audited Financial Results (Standalone & Consolidated) Of The Company For The Quarter/Year Ended 31St March, 2025
1d - GSPL Q4 and FY 2024-25 audited financial results and performance highlights disclosed.
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Corporate Action-Board approves Dividend
1d - Board recommends Rs. 6 dividend per share for FY 2024-25.
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Audited Financial Results (Standalone & Consolidated) Of The Company For The Quarter/Year Ended 31St March, 2025
1d - GSPL announces audited FY25 financials with Rs.5 dividend, unmodified audit opinion, and ongoing arbitration dispute.
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Board Meeting Outcome for The Board At Its Meeting Today, Approved The Standalone And Consolidated Financial Results For The Quarter & Year Ended 31St March 2025 And Recommended Dividend Subject To Approval Of Shareholders
1d - GSPL approved audited FY25 results with Rs.5 dividend; unmodified audit opinion; ongoing arbitration dispute noted.
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Closure of Trading Window
2 May - Board meeting on May 22, 2025, to approve FY25 results and consider dividend; trading window closed till May 24.
Annual reports
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
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Financial Year 2012
from nse
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Financial Year 2012
from bse
Concalls
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Aug 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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Aug 2024TranscriptNotesPPT
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May 2024TranscriptNotesPPT
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Feb 2024TranscriptNotesPPT
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Nov 2023TranscriptNotesPPT
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Aug 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPT
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Nov 2019TranscriptNotesPPT
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Aug 2019TranscriptNotesPPT
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May 2019TranscriptNotesPPT
Gas Transmission Business
The company is one of the largest players in the natural gas transmission business in India together with its leadership position in Gujarat and strategic location with connection to all major natural gas supply sources. GSPL commenced its operations with the transmission of natural gas being provided by GSPC. Over a while, GSPL has invested significantly in developing its natural gas pipeline network, which is now connected to major natural gas supply sources in Gujarat, including designated collection points near the various natural gas fields in Hazira, regassified liquified natural gas (RLNG) from Shell’s terminal at Hazira, Petronet LNG Limited’s terminal at Dahej, GSPC LNG Limited’s (GLL) terminal at Mundra along with Swan LNG floating storage regasification unit (FSRU) (Phase-1) and Chhara LNG terminal. It owns and operates around 2,704 km of natural gas transmission pipeline in the state of Gujarat as of Q1FY24. GSPL also sells electricity generated through its 52.50-MW windmills.