Guj.St.Petronet share price & results
- Dec 2025
- Mar 2026
Owns and operates Gujarat's state-wide natural gas transmission pipeline grid on an open-access, common-carrier basis.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 3,885 | −10.9% YoY | Quarterly, as filed | Quarter to Dec 2025 | Revenue from operations as filed. |
| Operating margin | 16.0 | +3.0 pts YoY | Operating profit / revenue | Quarter to Dec 2025 | For the quarter; a change is in percentage points. |
| Net profit | 379 | +13.1% YoY | Quarterly, as filed | Quarter to Dec 2025 | Profit after tax as filed. |
| Return on equity | 8.82 | −6.2 pts | Trailing twelve months | TTM to Dec 2025 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | +1.2 pts | Fiscal year | FY · period unavailable | Not in the analysed materials. No older figure is substituted. | |
| Revenue growth (YoY) | -7.50 | +5.0 pts | Trailing twelve months | TTM to Dec 2025 | Revenue change against the same period one year earlier. |
Price
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).
- Previous close
- ₹288.95
- Market cap
- ₹15.1k Cr
- 52-week range
- ₹229.65 – ₹351.35
- One year
- −16.10%
- Price to earnings (TTM to Dec 2025)
- 14.38×
- Return on equity (TTM to Dec 2025)
- 8.82%
Overview
- Symbol
- NSE:GSPL
- Industry
- Energy
- Exchange
- NSE
- Currency
- INR
What Guj.St.Petronet does
Based on the company's own presentations, annual report and earnings calls.
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
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2020 to Mar 2025).
Financials
What the filings say
Net profit, year on year: +13% (quarter to dec 2025 against dec 2024).
| Line item | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Sales | 4,532 | 4,727 | 3,992 | 4,360 | 4,291 | 4,107 | 4,008 | 3,885 |
| Expenses | 3,570 | 3,905 | 3,304 | 3,808 | 3,723 | 3,389 | 3,399 | 3,273 |
| Operating profit | 962 | 822 | 688 | 553 | 567 | 718 | 609 | 612 |
| Operating margin | 21.0% | 17.0% | 17.0% | 13.0% | 13.0% | 17.0% | 15.0% | 16.0% |
| Other income | 114 | 69 | 76 | 96 | 109 | 101 | 114 | 96 |
| Interest | 8 | 8 | 8 | 10 | 11 | 8 | 8 | 9 |
| Depreciation | 169 | 171 | 179 | 179 | 179 | 184 | 188 | 189 |
| Profit before tax | 899 | 712 | 577 | 460 | 486 | 626 | 527 | 510 |
| Tax rate | 26.0% | 26.0% | 27.0% | 27.0% | 27.0% | 26.0% | 26.0% | 26.0% |
| Net profit | 663 | 527 | 423 | 335 | 352 | 465 | 389 | 379 |
| EPS (₹ per share) | 8.42 | 6.65 | 4.99 | 4.15 | 3.90 | 5.58 | 4.62 | 4.55 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|
| Sales | 18,116 | 17,294 | 17,370 |
| Expenses | 14,474 | 13,923 | 14,740 |
| Operating profit | 3,643 | 3,372 | 2,630 |
| Other income | 165 | 265 | 350 |
| Interest | 62 | 38 | 37 |
| Depreciation | 621 | 663 | 708 |
| Profit before tax | 3,125 | 2,935 | 2,235 |
| Net profit | 2,342 | 2,183 | 1,637 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 |
|---|---|---|---|---|---|---|
| Equity capital | 564 | 564 | 564 | 564 | 564 | 564 |
| Reserves | 5,827 | 7,355 | 8,885 | 10,261 | 11,082 | 11,377 |
| Borrowings | 2,003 | 713 | 149 | 140 | 138 | 140 |
| Other liabilities | 5,775 | 6,662 | 7,718 | 8,091 | 9,023 | 9,843 |
| Total liabilities | 14,169 | 15,294 | 17,316 | 19,056 | 20,807 | 21,923 |
| Fixed assets | 9,497 | 9,946 | 10,481 | 10,779 | 11,695 | 11,636 |
| Capital work in progress | 953 | 1,245 | 1,409 | 1,680 | 1,121 | 1,134 |
| Investments | 1,457 | 1,670 | 1,621 | 1,889 | 1,792 | 1,772 |
| Other assets | 2,262 | 2,433 | 3,805 | 4,708 | 6,198 | 7,381 |
| Total assets | 14,169 | 15,294 | 17,316 | 19,056 | 20,807 | 21,923 |
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Cash from operations | 2,771 | 2,897 | 2,748 | 3,340 | 2,803 | 2,741 |
| Cash from investing | -806 | -1,080 | -1,359 | -1,815 | -2,142 | -2,754 |
| Cash from financing | -1,494 | -2,096 | -1,659 | -805 | -547 | -544 |
| Net cash flow | 471 | -279 | -271 | 720 | 114 | -556 |
| Free cash flow | 2,068 | 2,041 | 1,456 | 2,062 | 1,550 | 1,765 |
| Line item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|
| Debtor days | 20 | 30 | 21 | 23 | 24 | 24 |
| Cash conversion cycle | 20 | 30 | 21 | 23 | 24 | 24 |
| Working capital days | -61 | -55 | -23 | -25 | -9 | -5 |
| Return on capital employed | 30.0% | 31.0% | 28.0% | 27.0% | 21.0% | 15.0% |
| Dividend payout | 7.0% | 7.0% | 7.0% | 17.0% | 17.0% | 25.0% |
Where revenue comes from
The businesses behind the company’s reported revenue.
City Gas Distribution contributes 80.4% of reported segment revenue.
Quarter ended 31 Dec 2019 · Consolidated
- City Gas Distribution 80.4%
₹2,564.25 crore
- Gas Transportation 19.6%
₹625.88 crore
| Business segment | Revenue · ₹ crore | Share |
|---|---|---|
| City Gas Distribution | 2,564.25 | 80.4% |
| Gas Transportation | 625.88 | 19.6% |
Share = segment revenue ÷ total segment revenue, before intersegment adjustments.
How these numbers add up
- Total segment revenue
- ₹3,190.13 crore
- Intersegment adjustment
- ₹104.63 crore
- Net segment revenue
- ₹3,085.50 crore
Intersegment transactions are between the company’s own businesses. Net segment revenue can differ from income-statement revenue because reporting definitions differ.
Source: FinEdge · Last checked 19 Sept 2026. Reported segment names are kept as supplied.
Ownership
Who owns it
Promoters hold 37.63% as of Mar 2026; institutions added 0.33 pts since Dec 2025.
- Promoters 37.63%
- Foreign institutions 15.54%
- Domestic institutions 25.36%
- Government 2.13%
- Public 19.35%
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.
- Mutual fund newly disclosed 7.30% held
- Mutual fund newly disclosed 4.44% held
- Mutual fund newly disclosed 1.49% held
- Mutual fund newly disclosed 1.32% held
- Mutual fund +0.16 pp 5.97% held
- 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 |
|---|---|---|
| 37.63% | unchanged | |
| Mutual fund | 7.30% | newly disclosed |
| 6.57% | unchanged | |
| Mutual fund | 5.97% | +0.16 pp |
| Mutual fund | 4.44% | newly disclosed |
| Sovereign | 2.49% | −0.23 pp |
| 2.01% | unchanged | |
| Sovereign | 1.52% | +0.05 pp |
| Mutual fund | 1.49% | newly disclosed |
| 1.42% | unchanged | |
| 1.42% | unchanged | |
| 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.
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