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 ₹ 17,981 Cr.
- Current Price ₹ 319
- High / Low ₹ 470 / 260
- Stock P/E 18.0
- Book Value ₹ 187
- Dividend Yield 1.57 %
- ROCE 16.8 %
- ROE 13.2 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 21.0%
Cons
- The company has delivered a poor sales growth of 1.59% over past five years.
- Company has a low return on equity of 12.2% over last 3 years.
- Earnings include an other income of Rs.398 Cr.
- Working capital days have increased from 88.0 days to 197 days
* 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 Allcap BSE Energy BSE India Infrastructure Index Nifty 500 Nifty Smallcap 250
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,173 | 1,051 | 1,065 | 992 | 1,028 | 1,332 | 1,877 | 2,363 | 2,079 | 2,020 | 1,762 | 2,032 | 1,380 | |
| 101 | 122 | 136 | 126 | 139 | 184 | 334 | 789 | 612 | 620 | 503 | 527 | 315 | |
| Operating Profit | 1,072 | 929 | 928 | 866 | 888 | 1,148 | 1,543 | 1,574 | 1,467 | 1,400 | 1,259 | 1,504 | 1,064 |
| OPM % | 91% | 88% | 87% | 87% | 86% | 86% | 82% | 67% | 71% | 69% | 71% | 74% | 77% |
| 66 | 55 | 39 | 66 | 88 | 73 | 59 | 65 | 69 | 133 | 168 | 335 | 398 | |
| Interest | 126 | 142 | 118 | 80 | 60 | 35 | 219 | 164 | 93 | 31 | 5 | 5 | 5 |
| Depreciation | 186 | 184 | 189 | 183 | 179 | 175 | 180 | 195 | 203 | 196 | 194 | 192 | 200 |
| Profit before tax | 826 | 658 | 660 | 669 | 738 | 1,011 | 1,203 | 1,280 | 1,240 | 1,306 | 1,229 | 1,642 | 1,257 |
| Tax % | 35% | 36% | 38% | 33% | 33% | 34% | 34% | 13% | 25% | 23% | 23% | 22% | |
| 538 | 419 | 410 | 445 | 497 | 668 | 795 | 1,109 | 924 | 1,010 | 945 | 1,285 | 998 | |
| EPS in Rs | 9.56 | 7.45 | 7.29 | 7.91 | 8.81 | 11.86 | 14.09 | 19.65 | 16.38 | 17.90 | 16.75 | 22.77 | 17.69 |
| Dividend Payout % | 10% | 13% | 16% | 19% | 17% | 15% | 14% | 10% | 12% | 11% | 30% | 22% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 7% |
| 5 Years: | 2% |
| 3 Years: | -1% |
| TTM: | -30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 10% |
| 3 Years: | 12% |
| TTM: | -20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 9% |
| 3 Years: | 6% |
| 1 Year: | 8% |
| Return on Equity | |
|---|---|
| 10 Years: | 13% |
| 5 Years: | 13% |
| 3 Years: | 12% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 563 | 563 | 563 | 563 | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 |
| Reserves | 2,378 | 2,732 | 3,060 | 3,506 | 3,932 | 4,501 | 5,180 | 6,158 | 6,981 | 7,879 | 8,709 | 9,706 | 10,014 |
| 1,610 | 1,429 | 1,157 | 1,067 | 631 | 3,058 | 2,366 | 1,630 | 1,030 | 95 | 8 | 8 | 8 | |
| 703 | 679 | 760 | 710 | 707 | 826 | 840 | 750 | 797 | 802 | 807 | 802 | 1,280 | |
| Total Liabilities | 5,253 | 5,403 | 5,540 | 5,846 | 5,833 | 8,949 | 8,950 | 9,103 | 9,373 | 9,340 | 10,088 | 11,081 | 11,866 |
| 3,252 | 3,159 | 3,065 | 3,123 | 3,166 | 3,114 | 3,608 | 3,586 | 3,467 | 3,325 | 3,155 | 3,035 | 3,280 | |
| CWIP | 526 | 656 | 776 | 768 | 686 | 896 | 419 | 237 | 222 | 253 | 426 | 762 | 544 |
| Investments | 174 | 585 | 649 | 731 | 766 | 4,181 | 4,277 | 4,611 | 5,006 | 5,174 | 5,170 | 5,330 | 5,339 |
| 1,302 | 1,002 | 1,050 | 1,224 | 1,216 | 757 | 646 | 669 | 678 | 588 | 1,337 | 1,954 | 2,704 | |
| Total Assets | 5,253 | 5,403 | 5,540 | 5,846 | 5,833 | 8,949 | 8,950 | 9,103 | 9,373 | 9,340 | 10,088 | 11,081 | 11,866 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 693 | 645 | 627 | 603 | 944 | 894 | 1,088 | 1,360 | 1,241 | 1,075 | 966 | 1,172 | |
| -328 | -646 | -152 | -321 | -368 | -3,174 | -8 | -310 | -438 | -4 | -702 | -1,016 | |
| -1 | -407 | -474 | -297 | -637 | 2,286 | -1,033 | -1,030 | -809 | -1,082 | -203 | -284 | |
| Net Cash Flow | 364 | -408 | 1 | -15 | -61 | 7 | 48 | 20 | -6 | -11 | 62 | -127 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 79 | 86 | 52 | 56 | 42 | 34 | 40 | 25 | 28 | 23 | 30 | 25 |
| Inventory Days | ||||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 79 | 86 | 52 | 56 | 42 | 34 | 40 | 25 | 28 | 23 | 30 | 25 |
| Working Capital Days | -62 | -89 | -81 | -57 | -17 | -361 | -188 | -150 | 19 | 16 | 51 | 197 |
| ROCE % | 23% | 17% | 17% | 15% | 16% | 16% | 18% | 18% | 16% | 15% | 14% | 17% |
Documents
Announcements
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Closure of Trading Window
2h - Board meeting on May 22, 2025, to approve FY25 results and consider dividend; trading window closed till May 24.
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Board Meeting Intimation for Audited Financial Results For The Quarter And Financial Year Ended On 31St March, 2025 And Dividend, If Any, For The Financial Year 2024 - 25, May Be Considered At The Aforesaid Board Meeting.
2h - Board meeting on 22 May 2025 to approve FY25 results and consider dividend; trading window closed till 24 May.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
11 Apr - Certificate under Regulation 74(5) of SEBI (Depositories & Participants) Regulations, 2018 for Quarter ended 31st March, 2025
- Closure of Trading Window 29 Mar
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Letter From PNGRB Regarding Capacity Expansion Of GSPL''s High Pressure Gujarat Gas Grid By Laying Of Anjar Palanpur Pipeline
15 Mar - Approval for laying Anjar-Palanpur pipeline expansion.
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.