Gujarat Gas Ltd
Gujarat Gas Limited (GGL) is a government company u/s 2(45) of Companies Act 2013. Formerly Known as GSPC Distribution Networks Limited(GDNL), GGL is engaged in the business of Natural gas in India. The business of natural gas involves distribution of gas from sources of supply to centres of demand and to end customers. [1] GGL caters to its customers by providing CNG and PNG connections in domestic, Industrial, Commercial and Non commercial segments in the areas of South & Central Gujarat and Saurashtra. [2]
Strengths
- +Company is almost debt free.
- +Company has been maintaining a healthy dividend payout of 33.0%
Weaknesses
- −The company has delivered a poor sales growth of 9.86% over past five years.
Shareholding Pattern
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% |
| FIIs | 4.31% | 4.51%▲0.2 | 4.53%▲0.0 | 3.97%▼0.6 | 3.86%▼0.1 | 3.7%▼0.2 | 3.82%▲0.1 | 3.98%▲0.2 |
| DIIs | 14.75% | 14.38%▼0.4 | 14.21%▼0.2 | 14.81%▲0.6 | 15%▲0.2 | 14.97%▼0.0 | 15.06%▲0.1 | 14.76%▼0.3 |
| Public | 13.04% | 13.2%▲0.2 | 13.35%▲0.2 | 13.33%▼0.0 | 13.25%▼0.1 | 13.41%▲0.2 | 13.23%▼0.2 | 13.35%▲0.1 |
Financial Statements
| Metric | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3,845 | 3,929 | 4,134 | 4,450 | 3,782 | 4,153 | 4,102 | 3,871 | 3,780 | 3,658 |
| Expenses | 3,349 | 3,528 | 3,543 | 3,915 | 3,268 | 3,772 | 3,652 | 3,351 | 3,333 | 3,211 |
| Operating Profit | 497 | 401 | 591 | 536 | 514 | 380 | 450 | 520 | 447 | 447 |
| OPM % | 13% | 10% | 14% | 12% | 14% | 9% | 11% | 13% | 12% | 12% |
| Net Profit | 298 | 220 | 410 | 330 | 307 | 222 | 287 | 327 | 281 | 266 |
| EPS ₹ | 4.33 | 3.2 | 5.95 | 4.79 | 4.46 | 3.22 | 4.17 | 4.75 | 4.08 | 3.86 |
AI Insights
TTM revenue at ₹15,412Cr, down 6.5% YoY. OPM at 12%.
Borrowings at ₹151Cr. Debt-to-equity ratio: 0.02x. Healthy balance sheet.
CWIP at ₹832Cr (10% of fixed assets). Moderate ongoing capital expenditure.
DIIs: 14.76% (+1.48pp change). FIIs: 3.98% (-0.49pp change). Promoters hold 60.89%.
ROCE improving from 12% (Mar 2014) to 20% (Mar 2025). Working capital days: -8.
PE 21.5x with 19.6% ROCE. Price is 188% above book value of ₹126. Dividend yield: 1.57%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Allotment 1d - Allotted 62.27 crore equity shares to GSPC and GSPL shareholders under scheme on 16 May 2026.
- Closure of Trading Window 14 May
- Board Meeting Intimation for For Consideration Of Audited Financial Results For Quarter And Year Ended 31.03.2026 And Dividend, If Any 14 May - Board meets 26 May 2026 for Q4 and FY26 audited results; dividend may be considered.
- Announcement under Regulation 30 (LODR)-Change of Company Name 14 May - RoC approved Gujarat Gas Limited name change to Gujarat Energy Limited, effective 14 May 2026.
- Disclosures under Reg. 29(1) of SEBI (SAST) Regulations, 2011 13 May
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse