GSPL
Guj.St.Petronet share price & financials
- Price
- ₹276.75
- Market cap
- ₹15.1k Cr
- Sector
- Oil, Gas & Consumable Fuels
What Guj.St.Petronet does
Gujarat State Petronet Ltd (GSPL) builds, owns and operates a natural gas transmission pipeline network across Gujarat, carrying gas from sources such as Mundra, Hazira, Dahej and Vapi to industrial consumers and city gas distribution (CGD) networks. It earns transportation/tariff income by offering open-access, common-carrier pipeline capacity regulated by PNGRB, rather than trading or marketing the gas itself. Alongside its core transmission business, GSPL also owns and operates a wind power project. Through subsidiaries and an associate, the group additionally holds stakes in inter-state gas pipeline projects and in Gujarat Gas Limited, India's largest city gas distribution company.
Segments
- Natural Gas Transmission
- Wind Power Generation
- Gas transmission pipeline network
- 2,795 km (as of 31 March 2025)
- Districts covered by the gas grid
- ~25 districts across Gujarat
- Wind power installed capacity
- 52.5 MW
- Wind farm sites
- 2 (Maliya Miyana, Rajkot and Gorsar & Adodar, Porbandar)
- Subsidiaries
- 3 (GSPL India Gasnet Ltd, GSPL India Transco Ltd, Gujarat Gas Ltd)
- Associate company
- Sabarmati Gas Ltd
Quarterly results
Q3 FY26: revenue down 10.9%, net profit up 13.1% against the same quarter last year.
| Line item | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4,532 | 4,727 | 3,992 | 4,360 | 4,291 −5% | 4,107 −13% | 4,008 +0% | 3,885 −11% |
| EBITDA | 962 | 822 | 688 | 553 | 567 −41% | 718 −13% | 609 −11% | 612 +11% |
| Net profit | 663 | 527 | 423 | 335 | 352 −47% | 465 −12% | 389 −8% | 379 +13% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −13.9% 1Y
1Y: ₹321.5 on 9 May 2025 → ₹276.75. High ₹351.35 (19 May 2025), low ₹229.65 (30 Mar 2026).
Financials, as filed
Revenue fell 2.1% a year over 2 years, FY23 to FY25. Operating margin narrowed to 15.1%.
| Year ending | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | ₹18.1k Cr | ₹17.3k Cr | ₹17.4k Cr |
| Operating profit | ₹3.6k Cr | ₹3.4k Cr | ₹2.6k Cr |
| Operating margin | 20.1% | 19.5% | 15.1% |
| Interest | ₹62 Cr | ₹38 Cr | ₹37 Cr |
| Depreciation | ₹621 Cr | ₹663 Cr | ₹708 Cr |
| Net profit | ₹2.3k Cr | ₹2.2k Cr | ₹1.6k Cr |
| Net margin | 12.9% | 12.6% | 9.4% |
| Cash from operations | ₹3.3k Cr | ₹2.8k Cr | ₹2.7k Cr |
| Free cash flow | ₹2.1k Cr | ₹1.6k Cr | ₹1.8k Cr |
| ROCE | 27.0% | 21.0% | 15.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Equity capital | ₹564 Cr | ₹564 Cr | ₹564 Cr | ₹564 Cr | ₹564 Cr | ₹564 Cr |
| Reserves | ₹4.3k Cr | ₹5.8k Cr | ₹7.4k Cr | ₹8.9k Cr | ₹10.3k Cr | ₹11.4k Cr |
| Borrowings | ₹3.6k Cr | ₹2.0k Cr | ₹713 Cr | ₹149 Cr | ₹140 Cr | ₹140 Cr |
| Other liabilities | ₹4.8k Cr | ₹5.8k Cr | ₹6.7k Cr | ₹7.7k Cr | ₹8.1k Cr | ₹9.8k Cr |
| Total liabilities | ₹13.3k Cr | ₹14.2k Cr | ₹15.3k Cr | ₹17.3k Cr | ₹19.1k Cr | ₹21.9k Cr |
| Fixed assets | ₹9.3k Cr | ₹9.5k Cr | ₹9.9k Cr | ₹10.5k Cr | ₹10.8k Cr | ₹11.6k Cr |
| Capital work in progress | ₹807 Cr | ₹953 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.7k Cr | ₹1.1k Cr |
| Investments | ₹1.0k Cr | ₹1.5k Cr | ₹1.7k Cr | ₹1.6k Cr | ₹1.9k Cr | ₹1.8k Cr |
| Other assets | ₹2.3k Cr | ₹2.3k Cr | ₹2.4k Cr | ₹3.8k Cr | ₹4.7k Cr | ₹7.4k Cr |
| Total assets | ₹13.3k Cr | ₹14.2k Cr | ₹15.3k Cr | ₹17.3k Cr | ₹19.1k Cr | ₹21.9k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Mar 2026
Since Mar 2025, FIIs added +0.79 pp while the public trimmed −0.47 pp. The shareholder count shrank 11% to 1,84,832.
- Promoters
- 37.6%
- FIIs
- 15.5%
- DIIs
- 25.4%
- Government
- 2.1%
- Public
- 19.4%
Since Mar 2025
- FIIs +0.79 pp
- Public −0.47 pp
- DIIs −0.43 pp
How it drifted, 12 quarters
Over this window FIIs fell from 16.6% to 15.5% — −1.0 pp.
Ownership split by quarter, oldest first. Jun '23: Promoters 37.6%, FIIs 16.6%, DIIs 25.2%, Government 2.0%, Public 18.6%.Sep '23: Promoters 37.6%, FIIs 16.0%, DIIs 25.2%, Government 2.0%, Public 19.2%.Dec '23: Promoters 37.6%, FIIs 16.0%, DIIs 24.8%, Government 2.0%, Public 19.6%.Mar '24: Promoters 37.6%, FIIs 15.7%, DIIs 24.7%, Government 2.0%, Public 19.9%.Jun '24: Promoters 37.6%, FIIs 15.8%, DIIs 23.6%, Government 2.0%, Public 20.9%.Sep '24: Promoters 37.6%, FIIs 15.2%, DIIs 24.9%, Government 10.0%, Public 12.3%.Dec '24: Promoters 37.6%, FIIs 14.7%, DIIs 25.8%, Government 2.0%, Public 19.9%.Mar '25: Promoters 37.6%, FIIs 14.8%, DIIs 25.8%, Government 2.0%, Public 19.8%.Jun '25: Promoters 37.6%, FIIs 15.1%, DIIs 25.7%, Government 2.0%, Public 19.6%.Sep '25: Promoters 37.6%, FIIs 15.5%, DIIs 25.2%, Government 2.0%, Public 19.7%.Dec '25: Promoters 37.6%, FIIs 15.5%, DIIs 25.1%, Government 2.1%, Public 19.7%.Mar '26: Promoters 37.6%, FIIs 15.5%, DIIs 25.4%, Government 2.1%, Public 19.4%.
Who bought this quarter
since Dec 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mirae Asset Nifty India Infrastructure And Logisti Mutual fund newly disclosed 7.30% held
- SBI ELSS Tax Saver Fund Mutual fund newly disclosed 4.44% held
- Kotak Balanced Advantage Fund Mutual fund newly disclosed 1.49% held
- DSP Nifty Smallcap250 Quality 50 Index Fund Mutual fund newly disclosed 1.32% held
- ICICI Prudential Business Cycle Fund Mutual fund +0.16 pp 5.97% held
- Abu Dhabi Investment Authority - Monsoon Sovereign +0.05 pp 1.52% held
The same filing shows 1 holder trimming and 4 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Guj.St.Petronet above SEBI's 1% disclosure line, and what changed since Dec 2025.
| Holder | Stake | Change |
|---|---|---|
| Gujarat State Petroleum Corporation Limited | 37.63% | unchanged |
| Mirae Asset Nifty India Infrastructure And Logisti Mutual fund | 7.30% | newly disclosed |
| Gujarat Maritime Board | 6.57% | unchanged |
| ICICI Prudential Business Cycle Fund Mutual fund | 5.97% | +0.16 pp |
| SBI ELSS Tax Saver Fund Mutual fund | 4.44% | newly disclosed |
| Government Pension Fund Global Sovereign | 2.49% | −0.23 pp |
| Gujarat Urja Vikas Nigam Limited | 2.01% | unchanged |
| Abu Dhabi Investment Authority - Monsoon Sovereign | 1.52% | +0.05 pp |
| Kotak Balanced Advantage Fund Mutual fund | 1.49% | newly disclosed |
| Gujarat Narmada Valley Fertilizers And Chemicals L | 1.42% | unchanged |
| Gujarat Industrial Development Corporation | 1.42% | unchanged |
| DSP Nifty Smallcap250 Quality 50 Index Fund Mutual fund | 1.32% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Guj.St.Petronet
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