Gujarat State Petronet (Delisted) share price
BSE: 532702Gas
Last traded ₹268.35 on 11 May 2026
Delisted on 12 Oct 2026.
Last announcements
The company's own last announcements before its shares stopped trading, routine notices left out.
May 2026
6 May · Suspension of Trading
Members of the Exchange are hereby informed that the trading in equity shares of Gujarat State Petronet Limited shall be suspended w.e.f. May 12, 2026 (i.e., closing hours of trading on May 11, 2026) on account of the Scheme of Amalgamation.2 May · General Updates
2 May · Dispatch Of Letter To Shareholders
Q3 results, quarter to Dec 2025
Consolidated: the company and its subsidiaries together. ₹ crore.
- RevenueRevenue from operations. Money earned from selling the company's goods and services in the period. Revenue from operations in the glossary
- ₹4,092 Cr−9.9% on a year ago · −2.7% on the quarter beforeChange on a year ago and on the quarter before. The change against the same quarter a year before: (this quarter's figure less that quarter's) divided by that quarter's, times 100. The change on the quarter before is the same sum against the quarter just before, taken as this quarter's results restate it where the company restated it: this quarter's year to date less this quarter. Left out where either figure is a loss, where the restatement covers two or more earlier quarters without saying which, or across a change of basis named under the table, on the lines it affects.
- Operating profitOperating profit before depreciation (EBITDA). Revenue less operating expenses: what the business earns from its operations before depreciation, interest and tax. Operating profit before depreciation (EBITDA) in the glossary
- ₹613 Cr+7.0% on a year ago · −1.2% on the quarter before
- Net profitNet profit. What is left of revenue and other income after every cost, interest and tax. Net profit in the glossary
- ₹379 Cr+13.0% on a year ago · −2.6% on the quarter before
- Earnings per shareEarnings per share. Profit belonging to shareholders divided by the number of shares, restated for later splits and bonuses so they do not break the line. Earnings per share in the glossary
- ₹4.55+9.6% on a year ago · −1.5% on the quarter beforeChange on a year ago and on the quarter before. The change against the same quarter a year before: (this quarter's figure less that quarter's) divided by that quarter's, times 100. The change on the quarter before is the same sum against the quarter just before, taken as this quarter's results restate it where the company restated it: this quarter's year to date less this quarter. Left out where either figure is a loss, on the quarter before wherever the profit of that quarter was restated, and across a change of basis named under the table, on the lines it affects.
- Operating margin
- 15.0%
- Net margin
- 9.3%
From revenue to net profit, ₹ crore
- Revenue4,092
- Materials and goods−2,819
- Employee costs−70
- Other expenses−590
- Operating profit613
- Depreciation−189
- Other income+96
- Finance costs−9.1
- Profit before tax511
- Tax−131
- Joint ventures−0.9
- Net profit379
Gujarat State Petronet results by quarter
Consolidated: the company and its subsidiaries together. Latest quarter to Dec 2025. Results for the quarter to Mar 2026 were due by 30 May 2026, 60 days after it ends. Every company's dates are on the results calendar.
Revenue and net profit by quarter, ₹ crore
- Revenue
- Net profit
Operating and net margin by quarter, per cent
- Operating margin
- Net margin
| ₹ crore | Mar 2021 | Jun 2021Q1 | Sep 2021 | Dec 2021Q3 | Mar 2022 | Jun 2022Q1 | Sep 2022 | Dec 2022Q3 | Mar 2023 | Jun 2023Q1 | Sep 2023 | Dec 2023Q3 | Mar 2024 | Jun 2024Q1 | Sep 2024 | Dec 2024Q3Filed 7 Feb | Mar 2025Q4 | Jun 2025Q1 | Sep 2025Q2 | Dec 2025Q3 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,829what Revenue from operations, Mar 2021, includes. This period's revenue includes excise duty of ₹62 crore, a tax on the goods the company makes that it collects and pays to the government. | 3,482what Revenue from operations, Jun 2021, includes. This period's revenue includes excise duty of ₹57 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,159what Revenue from operations, Sep 2021, includes. This period's revenue includes excise duty of ₹74 crore, a tax on the goods the company makes that it collects and pays to the government. | 5,587what Revenue from operations, Dec 2021, includes. This period's revenue includes excise duty of ₹97 crore, a tax on the goods the company makes that it collects and pays to the government. | 5,094what Revenue from operations, Mar 2022, includes. This period's revenue includes excise duty of ₹104 crore, a tax on the goods the company makes that it collects and pays to the government. | 5,670what Revenue from operations, Jun 2022, includes. This period's revenue includes excise duty of ₹133 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,443what Revenue from operations, Sep 2022, includes. This period's revenue includes excise duty of ₹131 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,135what Revenue from operations, Dec 2022, includes. This period's revenue includes excise duty of ₹137 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,415what Revenue from operations, Mar 2023, includes. This period's revenue includes excise duty of ₹145 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,251what Revenue from operations, Jun 2023, includes. This period's revenue includes excise duty of ₹142 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,411what Revenue from operations, Sep 2023, includes. This period's revenue includes excise duty of ₹146 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,544what Revenue from operations, Dec 2023, includes. This period's revenue includes excise duty of ₹155 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,692what Revenue from operations, Mar 2024, includes. This period's revenue includes excise duty of ₹160 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,892what Revenue from operations, Jun 2024, includes. This period's revenue includes excise duty of ₹165 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,159what Revenue from operations, Sep 2024, includes. This period's revenue includes excise duty of ₹167 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,540what Revenue from operations, Dec 2024, includes. This period's revenue includes excise duty of ₹180 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,477what Revenue from operations, Mar 2025, includes. This period's revenue includes excise duty of ₹187 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,301what Revenue from operations, Jun 2025, includes. This period's revenue includes excise duty of ₹195 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,206what Revenue from operations, Sep 2025, includes. This period's revenue includes excise duty of ₹199 crore, a tax on the goods the company makes that it collects and pays to the government. | 4,092what Revenue from operations, Dec 2025, includes. This period's revenue includes excise duty of ₹207 crore, a tax on the goods the company makes that it collects and pays to the government. |
| Operating expenses. What the business spent to run itself in the period, materials, staff and other costs, before depreciation, interest and tax. Operating expenses in the glossary | 2,927 | 2,380 | 3,354 | 5,004 | 4,084 | 4,696 | 3,460 | 3,275 | 3,553 | 3,519 | 3,497 | 3,757 | 3,722 | 4,055 | 3,452 | 3,967 | 3,903 | 3,579 | 3,586 | 3,479 |
| Materials and goods boughtCost of materials and goods. Raw materials used and goods bought for resale in the period, adjusted for the change in stock held. Cost of materials and goods in the glossary | 2,532 | 1,944 | 2,858 | 4,541 | 3,608 | 4,182 | 2,969 | 2,739 | 2,994 | 2,980 | 2,944 | 3,145 | 3,076 | 3,511 | 2,899 | 3,374 | 3,204 | 2,955 | 2,936 | 2,819 |
| Employee costsEmployee costs. Salaries, wages, bonuses and other benefits paid to staff in the period. Employee costs in the glossary | 61 | 63 | 59 | 70 | 63 | 61 | 66 | 74 | 66 | 68 | 68 | 69 | 75 | 67 | 69 | 70 | 71 | 68 | 72 | 70 |
| Other expensesOther expenses. Every operating cost besides materials and staff: power, rent, freight, repairs, marketing and the like. Other expenses in the glossary | 334 | 373 | 436 | 393 | 412 | 453 | 424 | 461 | 493 | 471 | 486 | 543 | 572 | 477 | 484 | 523 | 628 | 556 | 578 | 590 |
| Operating profit before depreciation | 902 | 1,101 | 805 | 583 | 1,011 | 974 | 983 | 860 | 863 | 731 | 914 | 787 | 970 | 837 | 707 | 573 | 574 | 722 | 621 | 613 |
| Operating margin | 23.6% | 31.6% | 19.4% | 10.4% | 19.8% | 17.2% | 22.1% | 20.8% | 19.5% | 17.2% | 20.7% | 17.3% | 20.7% | 17.1% | 17.0% | 12.6% | 12.8% | 16.8% | 14.8% | 15.0% |
| Depreciation and amortisationDepreciation and amortisation. The part of the cost of plant, buildings and other long-lived assets charged against each year they are used. Depreciation and amortisation in the glossary | 137 | 139 | 143 | 146 | 151 | 151 | 155 | 158 | 157 | 161 | 165 | 168 | 169 | 171 | 179 | 179 | 179 | 184 | 188 | 189 |
| Other incomeOther income. Income from outside the main business, such as interest on deposits, dividends received and gains on investments. Other income in the glossary | 24 | 24 | 23 | 35 | 23 | 22 | 24 | 42 | 45 | 40 | 45 | 42 | 59 | 69 | 76 | 96 | 109 | 101 | 114 | 96 |
| Finance costsFinance costs. Interest and the other costs of borrowing in the period. Finance costs in the glossary | 41 | 35 | 27 | 25 | 24 | 21 | 20 | 15 | 13 | 15 | 14 | 14 | 8 | 8 | 8 | 10 | 11 | 8 | 8 | 9 |
| Profit before one-off items and taxProfit before one-off items and tax. Profit before tax as it would be without the one-off items below it, as the company states it. Profit before one-off items and tax in the glossary | 748 | 951 | 658 | 447 | 859 | 823 | 833 | 729 | 737 | 596 | 779 | 647 | 851 | 727 | 595 | 480 | 493 | 631 | 539 | 511 |
| One-off itemsExceptional items. Gains or losses the company reports separately because they are not expected to recur, such as selling a business or writing down an asset. Exceptional items in the glossary | 0 | 0 | 0 | 0 | −12 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 56 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 748 | 951 | 658 | 447 | 847 | 823 | 833 | 729 | 737 | 596 | 779 | 647 | 907 | 727 | 595 | 480 | 493 | 631 | 539 | 511 |
| 193 | 244 | 167 | 128 | 186 | 207 | 211 | 188 | 176 | 152 | 199 | 165 | 236 | 185 | 154 | 125 | 133 | 161 | 138 | 131 | |
| Tax rateEffective tax rate. Tax charged as a percentage of profit before tax. Effective tax rate in the glossary | 25.8% | 25.7% | 25.4% | 28.6% | 22.0% | 25.2% | 25.4% | 25.8% | 23.9% | 25.5% | 25.5% | 25.4% | 26.0% | 25.5% | 25.8% | 25.9% | 27.1% | 25.6% | 25.6% | 25.7% |
| Share of profit of joint ventures and associatesShare of profit of joint ventures and associates. The group's share of the profit of companies it part-owns and does not consolidate, as stated. It is part of net profit but not of revenue or operating profit: their sales and costs are not in the group's lines. Share of profit of joint ventures and associates in the glossary | 22 | 21 | 22 | 32 | −21 | 32 | 0 | −11 | −18 | −10 | 10 | 13 | −8 | −15 | −18 | −20 | −7 | −4 | −12 | −1 |
| 578 | 728 | 513 | 351 | 640 | 648 | 621 | 530 | 543 | 434 | 590 | 496 | 663 | 527 | 423 | 335 | 352 | 465 | 389 | 379 | |
| Other comprehensive incomeOther comprehensive income. Gains and losses booked straight to net worth rather than through profit, such as changes in the value of some investments, pension plans and currency translation. Other comprehensive income in the glossary | 14 | −3 | 1 | 3 | 3 | 3 | −1 | 0 | 4 | 0 | 1 | 1 | 0 | 2 | −10 | 1 | 3 | 1 | 2 | 2 |
| Total comprehensive incomeTotal comprehensive income. Net profit plus other comprehensive income. Total comprehensive income in the glossary | 592 | 725 | 513 | 354 | 643 | 652 | 620 | 529 | 547 | 434 | 592 | 498 | 663 | 529 | 413 | 336 | 355 | 466 | 391 | 381 |
| Net margin | 15.1% | 20.9% | 12.3% | 6.3% | 12.6% | 11.4% | 14.0% | 12.8% | 12.3% | 10.2% | 13.4% | 10.9% | 14.1% | 10.8% | 10.2% | 7.4% | 7.9% | 10.8% | 9.2% | 9.3% |
| Net margin without joint ventures and associatesNet margin without joint ventures and associates. Net profit less the share of profit of joint ventures and associates, as a percentage of revenue: the margin on the businesses whose revenue the statement carries. Shown where the company states such a share. Net margin without joint ventures and associates in the glossary | 14.5% | 20.3% | 11.8% | 5.7% | 13.0% | 10.9% | 14.0% | 13.1% | 12.7% | 10.4% | 13.2% | 10.6% | 14.3% | 11.1% | 10.6% | 7.8% | 8.0% | 10.9% | 9.5% | 9.3% |
| Earnings per share | ₹7.39 | ₹9.03 | ₹7.06 | ₹5.22 | ₹7.73 | ₹8.39 | ₹7.73 | ₹6.37 | ₹6.61 | ₹5.94 | ₹8.06 | ₹7.00 | ₹8.42 | ₹6.65 | ₹4.99 | ₹4.15 | ₹3.90 | ₹5.58 | ₹4.62 | ₹4.55 |
10 years at a glance
Consolidated: the company and its subsidiaries together. ₹ crore, years to March.
Revenue, net profit and borrowings, ₹ crore
- Revenue
- Net profit
- Borrowings
Operating and net margin, per cent
- Operating marginOperating margin. Operating profit before depreciation as a percentage of revenue: how much of each rupee of sales is left after running costs. Operating margin in the glossary
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.5% of operating profit in the first full year.Lease payments as a share of operating profit. Lease payments of ₹18 Cr divided by operating profit before depreciation of ₹3,574 Cr, both for the year to Mar 2021, the first full year with leases on the balance sheet.
Results for the year to Mar 2025
Consolidated: the company and its subsidiaries together. ₹ crore.
From revenue to net profit
- Revenue18,068
- Materials and goods−12,988
- Employee costs−276
- Other expenses−2,113
- Operating profit2,691
- Depreciation−709
- Other income+350
- One-off items0.0
- Finance costs−37
- Profit before tax2,295
- Tax−597
- Joint ventures−61
- Net profit1,637
What the company owns
- Plant, investments and other assets₹17,080 Cr
- Cash and bank₹2,290 Cr
- Receivables₹1,118 Cr
- Inventory₹319 Cr
What pays for it: net worth and liabilities
- Net worth₹15,555 Cr
- Other liabilities₹4,469 Cr
- Owed to suppliers₹783 Cr
Profit and loss
Consolidated, ₹ crore, years to March. The last column is the twelve months to Dec 2025, the latest four quarters added.
| ₹ crore | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025Twelve months |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 992 | 1,101 | 7,426what Revenue from operations, Mar 2018, includes. This period's revenue includes excise duty of ₹165 crore, a tax on the goods the company makes that it collects and pays to the government. | 9,553what Revenue from operations, Mar 2019, includes. This period's revenue includes excise duty of ₹208 crore, a tax on the goods the company makes that it collects and pays to the government. | 12,470what Revenue from operations, Mar 2020, includes. This period's revenue includes excise duty of ₹227 crore, a tax on the goods the company makes that it collects and pays to the government. | 11,726what Revenue from operations, Mar 2021, includes. This period's revenue includes excise duty of ₹191 crore, a tax on the goods the company makes that it collects and pays to the government. | 18,322what Revenue from operations, Mar 2022, includes. This period's revenue includes excise duty of ₹331 crore, a tax on the goods the company makes that it collects and pays to the government. | 18,663what Revenue from operations, Mar 2023, includes. This period's revenue includes excise duty of ₹547 crore, a tax on the goods the company makes that it collects and pays to the government. | 17,898what Revenue from operations, Mar 2024, includes. This period's revenue includes excise duty of ₹603 crore, a tax on the goods the company makes that it collects and pays to the government. | 18,068what Revenue from operations, Mar 2025, includes. This period's revenue includes excise duty of ₹698 crore, a tax on the goods the company makes that it collects and pays to the government. | 17,077 |
| 127 | 139 | 5,382 | 7,013 | 9,247 | 8,152 | 14,822 | 14,984 | 14,515 | 15,377 | 14,547 | |
| Materials and goods bought | – | – | 4,433 | 5,797 | 7,459 | 6,586 | 12,951 | 12,884 | 12,145 | 12,988 | 11,914 |
| Employee costs | – | 39 | – | 225 | 237 | 237 | 256 | 268 | 279 | 276 | 280 |
| Other expenses | – | 100 | – | 992 | 1,551 | 1,329 | 1,614 | 1,832 | 2,090 | 2,113 | 2,353 |
| Operating profit before depreciation | 865 | 961 | 2,044 | 2,540 | 3,223 | 3,574 | 3,500 | 3,680 | 3,383 | 2,691 | 2,530 |
| Operating margin | 87.2% | 87.3% | 27.5% | 26.6% | 25.8% | 30.5% | 19.1% | 19.7% | 18.9% | 14.9% | 14.8% |
| Materials, % of revenueMaterials, % of revenue. Raw materials used and goods bought for resale, adjusted for the change in stock, divided by revenue, times 100. Materials, % of revenue in the glossary | – | – | – | 60.7% | 59.8% | 56.2% | 70.7% | 69.0% | 67.9% | 71.9% | 69.8% |
| Employee costs, % of revenueEmployee costs, % of revenue. Salaries, wages and other staff costs divided by revenue, times 100. Employee costs, % of revenue in the glossary | – | 3.5% | – | 2.4% | 1.9% | 2.0% | 1.4% | 1.4% | 1.6% | 1.5% | 1.6% |
| Other expenses, % of revenueOther expenses, % of revenue. Operating costs besides materials and staff divided by revenue, times 100; with the two above and the operating margin it makes 100. Other expenses, % of revenue in the glossary | – | 9.1% | – | 10.4% | 12.4% | 11.3% | 8.8% | 9.8% | 11.7% | 11.7% | 13.8% |
| Depreciation and amortisation | 184 | 179 | 447 | 468 | 518 | 542 | 579 | 621 | 664 | 709 | 740 |
| Operating profit after depreciationOperating profit after depreciation (EBIT). Operating profit before depreciation, less depreciation and amortisation. Operating profit after depreciation (EBIT) in the glossary | 681 | 782 | 1,597 | 2,072 | 2,705 | 3,033 | 2,921 | 3,059 | 2,719 | 1,982 | 1,791 |
| Other income | 49 | 6 | 96 | 138 | 108 | 91 | 106 | 133 | 186 | 350 | 419 |
| Finance costs | 77 | 60 | 242 | 427 | 369 | 227 | 112 | 70 | 32 | 37 | 37 |
| Profit before one-off items and tax | 652 | 728 | 1,452 | 1,783 | 2,444 | 2,897 | 2,914 | 3,122 | 2,874 | 2,295 | 2,173 |
| One-off items | 0 | 0 | 0 | −18 | 0 | 0 | −12 | 0 | 56 | 0 | 0 |
| Profit before tax | 652 | 728 | 1,452 | 1,766 | 2,444 | 2,897 | 2,903 | 3,122 | 2,929 | 2,295 | 2,173 |
| 224 | 257 | 519 | 590 | 159 | 743 | 726 | 783 | 751 | 597 | 564 | |
| Share of profit of joint ventures and associates | 38 | – | – | 15 | −6 | 38 | 54 | 3 | 5 | −61 | −24 |
| 465 | 539 | 958 | 1,190 | 2,279 | 2,192 | 2,231 | 2,342 | 2,184 | 1,637 | 1,585 | |
| Other comprehensive income | – | – | – | −6 | −7 | 13 | 4 | 6 | 2 | −4 | 8 |
| Total comprehensive income | – | – | – | 1,184 | 2,272 | 2,205 | 2,235 | 2,348 | 2,186 | 1,633 | 1,593 |
| Net margin | 46.8% | 49.0% | 12.9% | 12.5% | 18.3% | 18.7% | 12.2% | 12.5% | 12.2% | 9.1% | 9.3% |
| Net margin without joint ventures and associates | 43.0% | – | – | 12.3% | 18.3% | 18.4% | 11.9% | 12.5% | 12.2% | 9.4% | – |
Balance sheet
Consolidated, ₹ crore, at 31 March. The last column is the half year to Sep 2025, after the latest full year: the balance sheet at its end.
| ₹ crore | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025Half year |
|---|---|---|---|---|---|---|---|---|
| Net worth. What the company owns less everything it owes: the money shareholders have in the business, paid in and kept from profits. Net worth in the glossary | 4,306 | 6,405 | 8,459 | 10,517 | 12,688 | 14,383 | 15,555 | 15,946 |
| Net worth belonging to the company's shareholders. Net worth less the part that belongs to outside owners of subsidiaries. Net worth belonging to the company's shareholders in the glossary | 3,295 | 4,884 | 6,391 | 7,919 | 9,449 | 10,825 | 11,646 | 11,941 |
| Share capitalShare capital. The face value of all the shares the company has issued. Share capital in the glossary | 564 | 564 | 564 | 564 | 564 | 564 | 564 | 564 |
| ReservesReserves. The rest of the shareholders' net worth: profits kept in the business over the years, and money paid for shares above their face value. Reserves in the glossary | 2,731 | 4,320 | 5,827 | 7,355 | 8,885 | 10,261 | 11,082 | 11,377 |
| Belonging to outside owners of subsidiariesNet worth belonging to outside owners of subsidiaries. The part of net worth that belongs to the other shareholders of subsidiaries the company does not fully own. Net worth belonging to outside owners of subsidiaries in the glossary | 1,011 | 1,520 | 2,068 | 2,599 | 3,239 | 3,558 | 3,909 | 4,005 |
| Borrowings. Loans, bonds and other money the company has borrowed and must repay with interest. Borrowings in the glossary | 3,375 | 2,378 | 1,520 | 569 | 0 | 0 | 0 | 0 |
| Liabilities due within a year. Everything the company must pay within twelve months: borrowings falling due, suppliers, and other dues and provisions. Liabilities due within a year in the glossary | 2,987 | 3,104 | 3,107 | 2,818 | 3,018 | 3,025 | 3,532 | 4,236 |
| Liabilities due after a year. Everything the company owes that falls due more than twelve months on, borrowings among it. Liabilities due after a year in the glossary | 5,168 | 3,841 | 2,603 | 1,958 | 1,610 | 1,648 | 1,720 | 1,742 |
| Total assets. Everything the company owns or controls: plant, investments, stock, money owed by customers and cash. Total assets in the glossary | 12,461 | 13,350 | 14,169 | 15,294 | 17,316 | 19,056 | 20,807 | 21,923 |
| Assets held for longer than a year. Everything the company owns that it does not expect to turn into cash within twelve months: plant, intangibles, long-term investments, loans given and the like. Assets held for longer than a year in the glossary | 10,920 | 11,497 | 12,379 | 13,503 | 14,180 | 15,045 | 15,209 | 15,558 |
| Assets turning to cash within a year. Everything the company expects to turn into cash or use up within twelve months: stock, money owed by customers, cash and short-term investments. Assets turning to cash within a year in the glossary | 1,542 | 1,853 | 1,790 | 1,791 | 3,136 | 4,011 | 5,582 | 6,349 |
| Net debtNet debt. Borrowings less cash, other bank balances and current investments: what the company would still owe if it used its cash to repay. Net debt in the glossary | 2,903 | 1,589 | 1,111 | 461 | −1,373 | −1,400 | −2,290 | −2,555 |
Cash flow
Consolidated, ₹ crore, years to March. The last column is the half year to Sep 2025, after the latest full year: the cash flow over its six months.
| ₹ crore | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025Half year |
|---|---|---|---|---|---|---|
| Cash from operations. Cash the business brought in from its operations in the period, after paying suppliers, staff and tax. Cash from operations in the glossary | 2,897 | 2,746 | 3,340 | 2,803 | 2,741 | 1,657 |
| Cash generated before tax. Cash from operations before income tax paid: profit before tax, with non-cash items added back and the change in working capital. Cash generated before tax in the glossary | 3,449 | 3,538 | 4,107 | 3,614 | 3,523 | 2,018 |
| Change in working capital. Cash taken up, below nought, or released by the change in stock, money owed by customers, money owed to suppliers and other short-term items over the year. Change in working capital in the glossary | 7 | −39 | 375 | −9 | 466 | 463 |
| ReceivablesChange in receivables. Cash taken up, below nought, or released by the change in what customers owe. Change in receivables in the glossary | −252 | −147 | −109 | −8 | 25 | 89 |
| InventoriesChange in inventories. Cash taken up, below nought, or released by the change in stock held. Change in inventories in the glossary | −10 | −60 | −31 | 4 | −51 | −3 |
| PayablesChange in payables. Cash kept, above nought, or paid out by the change in what the company owes suppliers. Change in payables in the glossary | 117 | 23 | 251 | −28 | 82 | −90 |
| Other working capitalOther working capital. The working-capital change from every other short-term item: advances, provisions, other assets and liabilities. Other working capital in the glossary | 152 | 145 | 264 | 23 | 410 | 467 |
| Tax paidTax paid. Income tax paid in cash during the year, net of refunds. Tax paid in the glossary | −719 | −742 | −735 | −676 | −509 | −175 |
| Interest paidInterest paid, in operations. Interest paid in cash that the company counts in its operations rather than its financing. Interest paid, in operations in the glossary | 227 | 0 | 44 | 0 | 0 | 0 |
| Capital spendingCapital spending. Cash spent in the period on plant, equipment, buildings and other long-lived assets. Capital spending in the glossary | 857 | 1,289 | 1,278 | 1,253 | 976 | 447 |
| Free cash flowFree cash flow. Cash from operations less capital spending: what is left to repay borrowings, pay dividends or keep. Free cash flow in the glossary | 2,041 | 1,456 | 2,062 | 1,550 | 1,765 | 1,211 |
| Cash from investing. Cash spent on, below nought, or received from plant, investments, businesses bought or sold, and interest and dividends received. Cash from investing in the glossary | −1,080 | −1,357 | −1,815 | −2,142 | −2,754 | −1,314 |
| Cash from financing. Cash raised from, or paid to, lenders and shareholders: borrowings taken and repaid, interest, lease payments, dividends and shares issued or bought back. Cash from financing in the glossary | −2,096 | −1,659 | −805 | −547 | −544 | −331 |
| Dividends paidDividends paid. Cash paid to shareholders as dividends during the period. Dividends paid in the glossary | 153 | 176 | 176 | 492 | 460 | 282 |
| Shares bought backShares bought back. Cash spent buying the company's own shares back from shareholders. Shares bought back in the glossary | 0 | 0 | 0 | 0 | 0 | 0 |
| Shares issuedShares issued. Cash raised by selling new shares. Shares issued in the glossary | 1 | 0 | 0 | 0 | 0 | 0 |
| Net change in cashNet change in cash. Cash from operations, investing and financing added together: how much cash and cash equivalents rose or fell over the year, before currency effects. Net change in cash in the glossary | −279 | −271 | 720 | 114 | −556 | 12 |
Ratios
Consolidated, years to March.
| Ratio | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growthRevenue growth. This year's revenue less last year's, divided by last year's, times 100; blank where last year's is not above nought. Revenue growth in the glossary | – | 11.0% | 574.8% | 28.6% | 30.5% | −6.0% | 56.3% | 1.9% | −4.1% | 1.0% |
| Operating profit growthOperating profit growth. This year's operating profit before depreciation less last year's, divided by last year's, times 100; blank where last year's is not above nought. Operating profit growth in the glossary | – | 11.1% | 112.6% | 24.3% | 26.9% | 10.9% | −2.1% | 5.1% | −8.1% | −20.5% |
| Net profit growthNet profit growth. This year's net profit less last year's, divided by last year's, times 100; blank where last year's is not above nought. Net profit growth in the glossary | – | 16.0% | 77.8% | 24.2% | 91.4% | −3.8% | 1.8% | 5.0% | −6.8% | −25.0% |
| Earnings per share growthEarnings per share growth. This year's earnings per share less last year's, on the same share count, divided by last year's, times 100; blank where last year's is not above nought. Earnings per share growth in the glossary | – | 15.9% | 37.6% | 34.7% | 73.1% | −7.1% | 2.0% | 0.2% | 1.1% | −33.1% |
| Return on equity. Profit belonging to shareholders as a percentage of their average net worth over the year. | – | – | – | 30.3%what Return on equity, Mar 2019, includes. This year's return on equity, asset turnover and assets per rupee of net worth are on its year-end balance sheet: none a year before is on record to average with. | 42.3% | 28.5% | 22.9% | 18.9% | 16.4% | 9.9% |
| Change in return on equity. This year's return on equity less last year's, in percentage points, split below into what came from the margin, turnover and borrowing, which add up to it. Change in return on equity in the glossary | – | – | – | – | 12.0 pts | −13.8 pts | −5.6 pts | −4.0 pts | −2.5 pts | −6.5 pts |
| From the net marginChange from the net margin. The part of the change in return on equity that came from profit per rupee of sales. Change from the net margin in the glossary | – | – | – | – | 9.9 pts | −0.5 pts | −9.9 pts | −0.4 pts | 1.0 pts | −5.5 pts |
| From asset turnoverChange from asset turnover. The part of the change in return on equity that came from sales per rupee of assets. Change from asset turnover in the glossary | – | – | – | – | 10.5 pts | −4.9 pts | 8.5 pts | −1.8 pts | −2.8 pts | −0.9 pts |
| From borrowingChange from borrowing. The part of the change in return on equity that came from assets per rupee of net worth. Change from borrowing in the glossary | – | – | – | – | −8.4 pts | −8.3 pts | −4.2 pts | −1.8 pts | −0.8 pts | −0.1 pts |
| Return on capital employedReturn on capital employed. Operating profit after depreciation divided by net worth plus borrowings at the year end, times 100: what the business earns on all the money in it. | – | – | – | 27.0% | 30.8% | 30.4% | 26.3% | 24.1% | 18.9% | 12.7% |
| Cash conversionCash conversion. Cash from operations as a percentage of net profit: how much of the reported profit came in as cash. Cash conversion in the glossary | – | – | – | – | – | 132.2% | 123.1% | 142.6% | 128.4% | 167.4% |
| Interest coverInterest cover. Operating profit after depreciation divided by finance costs: how many times over the profit pays the interest bill. Interest cover in the glossary | 8.8 | 13.1 | 6.6 | 4.9 | 7.3 | 13.4 | 26.1 | 43.6 | 84.8 | 53.0 |
| Debt to equityDebt to equity. Borrowings at the year end divided by net worth: rupees borrowed for each rupee shareholders have in the business. | – | – | – | 0.78 | 0.37 | 0.18 | 0.05 | 0.00 | 0.00 | 0.00 |
| Receivable daysReceivable days. Trade receivables divided by revenue, times 365: the average days customers take to pay. Receivable days in the glossary | – | – | – | 27 | 19 | 28 | 21 | 22 | 23 | 23 |
| Inventory daysInventory days. Inventories divided by the cost of materials and goods, times 365: the days of stock the company holds. Inventory days in the glossary | – | – | – | 12 | 8 | 10 | 7 | 8 | 8 | 9 |
| Payable daysPayable days. Trade payables divided by the cost of materials and goods, times 365: the average days the company takes to pay suppliers. Payable days in the glossary | – | – | – | 23 | 19 | 27 | 14 | 21 | 21 | 22 |
| Cash conversion cycle, daysCash conversion cycle. Receivable days plus inventory days less payable days: how long money is tied up between paying suppliers and being paid by customers. Cash conversion cycle in the glossary | – | – | – | 16 | 8 | 11 | 14 | 9 | 10 | 10 |
| Working capital daysWorking capital days. Assets turning to cash within a year, less cash, bank deposits and current investments, minus liabilities due within a year, less borrowings, divided by the year's revenue, times 365. Working capital days in the glossary | – | – | – | −73what Working capital days, Mar 2019, includes. This year's balance sheet lists long-term loans due within the year among other liabilities, not borrowings, so its working capital days count them, unlike the years from April 2021. | −60what Working capital days, Mar 2020, includes. This year's balance sheet lists long-term loans due within the year among other liabilities, not borrowings, so its working capital days count them, unlike the years from April 2021. | −40what Working capital days, Mar 2021, includes. This year's balance sheet lists long-term loans due within the year among other liabilities, not borrowings, so its working capital days count them, unlike the years from April 2021. | −19 | −25 | −8 | −5 |
| Asset turnoverAsset turnover. Revenue divided by average total assets: rupees of sales for each rupee of assets. Asset turnover in the glossary | – | – | – | 0.77 | 0.97 | 0.85 | 1.24 | 1.14 | 0.98 | 0.91 |
| Assets per rupee of net worthAssets per rupee of net worth. Average total assets divided by average net worth: how far borrowings and other liabilities stretch the shareholders' money. Assets per rupee of net worth in the glossary | – | – | – | 3.78 | 3.16 | 2.44 | 2.06 | 1.88 | 1.79 | 1.77 |
| Sales per rupee of plantSales per rupee of plant. Revenue divided by the net block: rupees of sales for each rupee of plant in use. Sales per rupee of plant in the glossary | – | – | – | 1.13 | 1.42 | 1.31 | 1.95 | 1.89 | 1.77 | 1.64 |
| Capital spending to depreciationCapital spending to depreciation. Capital spending for the period divided by its depreciation and amortisation. Capital spending to depreciation in the glossary | – | – | – | – | – | 1.58 | 2.22 | 2.06 | 1.89 | 1.38 |
| Plant being built, % of plant in useCapital work in progress, % of net block. Plant still being built as a percentage of the plant in use. Capital work in progress, % of net block in the glossary | – | – | – | 10.8% | 9.2% | 10.6% | 13.0% | 14.0% | 16.5% | 10.1% |
Growth and returns over 3, 5 and 10 years
Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2025.
- Return on assets, latest yearReturn on assets, latest year. Profit to the company's own shareholders in the latest year ÷ the average of that year's opening and closing total assets × 100; empty for a bank, a lender or an insurer, whose own return on assets is shown with its accounts.
- 5.6%
- Cash from operations against operating profitCash from operations against operating profit. Cash from operating activities in the latest year ÷ operating profit before depreciation × 100: how much of the operating profit arrived as cash; empty where that profit is nought or a loss.
- 101.9%
| Measure | 10 years | 5 years | 3 years |
|---|---|---|---|
| Revenue growth, yearly rateRevenue growth, yearly rate. 3 years: Revenue in the latest year ÷ revenue in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Revenue in the latest year ÷ revenue in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Revenue in the latest year ÷ revenue in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | – | 7.7% | −0.5% |
| Profit growth, yearly rateProfit growth, yearly rate. 3 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year three years before, to the power of one third, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 5 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year five years before, to the power of one fifth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. 10 years: Profit to the company's own shareholders in the latest year ÷ profit to the company's own shareholders in the year ten years before, to the power of one tenth, − 1, × 100: the yearly rate it grew at; empty where either year is missing, nought or a loss, or a change of year end falls between them. | – | −8.5% | −12.1% |
| Return on equity, averageReturn on equity, average. 3 years: The plain average of the yearly return on equity over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly return on equity over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly return on equity over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 19.3% | 15.1% |
| Return on capital employed, averageReturn on capital employed, average. 3 years: The plain average of the yearly return on capital employed over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly return on capital employed over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly return on capital employed over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 22.5% | 18.6% |
| Operating margin, averageOperating margin, average. 3 years: The plain average of the yearly operating profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly operating profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly operating profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 35.8% | 20.6% | 17.8% |
| Net margin, averageNet margin, average. 3 years: The plain average of the yearly net profit margin over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly net profit margin over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly net profit margin over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 20.4% | 12.9% | 11.3% |
| Asset turnover, averageAsset turnover, average. 3 years: The plain average of the yearly asset turnover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly asset turnover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly asset turnover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 1.03 | 1.01 |
| Cash conversion cycle, days, averageCash conversion cycle, days, average. 3 years: The plain average of the yearly cash conversion cycle in days over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly cash conversion cycle in days over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly cash conversion cycle in days over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 11 | 10 |
| Interest cover, averageInterest cover, average. 3 years: The plain average of the yearly interest cover over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly interest cover over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly interest cover over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | 26.2 | 44.2 | 60.5 |
| Debt to equity, averageDebt to equity, average. 3 years: The plain average of the yearly debt to equity over the last three years, needing at least two of them; a year without the figure is left out, never filled in. 5 years: The plain average of the yearly debt to equity over the last five years, needing at least four of them; a year without the figure is left out, never filled in. 10 years: The plain average of the yearly debt to equity over the last ten years, needing at least nine of them; a year without the figure is left out, never filled in. | – | 0.05 | 0.00 |
Where the cash came from and went
Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2025.
| ₹ crore | 5 years | 3 years | Latest year |
|---|---|---|---|
| Cash from operationsCash from operations. Latest year: Cash from operating activities in the latest year. 3 years: Cash from operating activities added over the last three years, needing every one of them. 5 years: Cash from operating activities added over the last five years, needing every one of them. | 14,527 | 8,884 | 2,741 |
| Cash from investingCash from investing. Latest year: Cash from investing activities in the latest year. 3 years: Cash from investing activities added over the last three years, needing every one of them. 5 years: Cash from investing activities added over the last five years, needing every one of them. | −9,148 | −6,711 | −2,754 |
| Cash from financingCash from financing. Latest year: Cash from financing activities in the latest year. 3 years: Cash from financing activities added over the last three years, needing every one of them. 5 years: Cash from financing activities added over the last five years, needing every one of them. | −5,651 | −1,896 | −544 |
| Capital spendingCapital spending. Latest year: Spending on property, plant and equipment in the latest year. 3 years: Spending on property, plant and equipment added over the last three years, needing every one of them. 5 years: Spending on property, plant and equipment added over the last five years, needing every one of them. | 5,653 | 3,507 | 976 |
| Dividends paidDividends paid. Latest year: Dividends paid in the latest year. 3 years: Dividends paid added over the last three years, needing every one of them. 5 years: Dividends paid added over the last five years, needing every one of them. | 1,456 | 1,128 | 460 |
| Shares bought backShares bought back. Latest year: Shares bought back in the latest year. 3 years: Shares bought back added over the last three years, needing every one of them. 5 years: Shares bought back added over the last five years, needing every one of them. | 0 | 0 | 0 |
| Shares issued for cashShares issued for cash. Latest year: Shares issued for cash in the latest year. 3 years: Shares issued for cash added over the last three years, needing every one of them. 5 years: Shares issued for cash added over the last five years, needing every one of them. | 1 | 0 | 0 |
| Borrowings raisedBorrowings raised. Latest year: Money raised by borrowing, as a positive amount, in the latest year; empty where a year's filing states only borrowing net of repayment, which says neither how much was raised nor how much paid back. 3 years: Money raised by borrowing, as a positive amount, added over the last three years, needing every one of them; empty where a year's filing states only borrowing net of repayment, which says neither how much was raised nor how much paid back. 5 years: Money raised by borrowing, as a positive amount, added over the last five years, needing every one of them; empty where a year's filing states only borrowing net of repayment, which says neither how much was raised nor how much paid back. | 944 | 0 | 0 |
| Borrowings repaidBorrowings repaid. Latest year: Money paid back on borrowings, as a positive amount, in the latest year. 3 years: Money paid back on borrowings, as a positive amount, added over the last three years, needing every one of them. 5 years: Money paid back on borrowings, as a positive amount, added over the last five years, needing every one of them. | 4,569 | 565 | 0 |
Accounting checks
Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.
| Check | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Piotroski score, out of 9Piotroski F-score. Nine yes-or-no tests of profit, cash, borrowing and efficiency against the year before, one point for each passed. Piotroski F-score in the glossaryPublished threshold 3 points out of 9 | – | – | – | – | – | 5 | 7 | 7 | 6 | 5 |
| Altman Z-scoreAltman Z-score. Working capital, reserves, operating profit, market value and sales, each over total assets, weighted and added: a published measure of financial strain. Altman Z-score in the glossaryPublished threshold 1.81 | – | – | – | – | – | – | 4.28 | 4.35 | 4.85 | 3.98 |
| Beneish M-scoreBeneish M-score. Eight ratios of this year against last, from customer credit to borrowing, weighted and added: a published test of whether profit may have been overstated. Beneish M-score in the glossaryPublished threshold −1.78 | – | – | – | – | – | −2.24 | −1.94 | −2.67 | −2.64 | −2.77 |
| Profit not backed by cash, % of assetsProfit not backed by cash (Sloan accruals). Net profit less cash from operations, as a percentage of average total assets. Profit not backed by cash (Sloan accruals) in the glossaryPublished threshold 10 per cent of average total assets | – | – | – | – | – | 2.72 | 5.72 | 5.01 | 8.37 | 8.28 |
| Cash from operations to profit, 3 yearsCash from operations to profit, three years. Three years of cash from operations added up, divided by three years of net profit added up. Cash from operations to profit, three years in the glossaryPublished threshold 0.7 times | – | – | – | – | – | – | – | 1.33 | 1.32 | 1.44 |
| Receivables growth less revenue growthReceivables growth less revenue growth. The growth in money owed by customers less the growth in revenue, in percentage points. Receivables growth less revenue growth in the glossaryOur threshold 0 percentage points | – | – | – | – | −36.96 | 44.25 | −41.63 | 8.03 | 4.69 | −3.55 |
| Inventory growth less cost-of-goods growthInventory growth less cost-of-goods growth. The growth in stock held less the growth in the cost of goods sold, in percentage points. Inventory growth less cost-of-goods growth in the glossaryOur threshold 0 percentage points | – | – | – | – | −41.31 | 17.34 | −63.53 | 13.24 | 4.35 | 11.40 |
| Other current assets growth less revenue growthOther current assets growth less revenue growth. The growth in other current assets less the growth in revenue, in percentage points. Other current assets growth less revenue growth in the glossaryOur threshold 5 per cent of revenue | – | – | – | – | 0.51 | 0.48 | 0.59 | −0.29 | 4.73 | 3.66 |
| Assets under construction, years of additionsAssets under construction, years of additions. Capital work in progress divided by the year's additions to plant: how many years of building stand unfinished. Assets under construction, years of additions in the glossaryOur threshold 2 years of additions | – | – | – | – | 0.94 | 1.26 | 1.22 | 1.28 | 1.85 | 0.69 |
| Effective tax ratePublished threshold 17.16 per cent | 34.40 | 35.30 | 35.73 | 33.42 | 6.50 | 25.65 | 25.00 | 25.07 | 25.64 | 26.01 |
| Tax charged less tax paid, % of profitTax charged less tax paid. Tax charged against profit less tax actually paid in cash, as a percentage of profit before tax. Tax charged less tax paid in the glossaryOur threshold 10 percentage points | – | – | – | – | – | – | −0.58 | 1.53 | 2.56 | 3.80 |
Credit ratings
An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.
| Date | Agency | Borrowing rated | Rating | Outlook | Amount, ₹ Cr |
|---|---|---|---|---|---|
| 8 Dec 2025 | CARE Ratings Limited | Fund-based - LT-Term LoanLong-term scale | CARE AA+ (Rating Watch with Developing Implications)Review, Re-affirm | 50 | |
| 8 Dec 2025 | CARE Ratings Limited | Non-fund-based - LT/ ST-Bank GuaranteeLong and short-term scales | CARE AA+ (Rating Watch with Developing Implications) / CARE A1+Review, Re-affirm | 250 |
Business segments
In the year to Mar 2025 the company reports one business segment, Gas transmission and distribution, which carries all its revenue.
Where the return came from
Yearly rates to Mar 2025, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −16.6% | −33.1% | +22.0% | 1.7% |
| 3 years | +5.7% | −12.1% | +18.4% | 1.7% |
| 5 years | +12.4% | −8.5% | +21.3% | 1.3% |
Who owns Gujarat State Petronet, filing by filing
Per cent of the company's shares. Every filing on record, from Sep 2021; the latest is the filing for Mar 2026.
Mar 2026 filing
- Promoters37.63%
- Foreign institutions15.54%
- Indian institutions25.48%
- Governments2.01%
- Individuals and others19.34%
Shareholding pattern, per cent, from Sep 2022
- Promoters
- Foreign institutions
- Indian institutions
- Governments
- Individuals and others
| Per cent | Sep 2021 | Dec 2021 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | |
| Indian promoters | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% | 37.63% |
| Public. Every shareholder outside the promoter group, the employee trusts and the shares held against depositary receipts, as the filing totals them. Public in the glossary | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% | 62.37% |
| Shares in issue | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 | 56,42,11,376 |
Gujarat State Petronet promoters
Promoters are the founders, families and companies that control the company, as its filings name them. Every member of the promoter group holding shares in the filing for Mar 2026; the largest is GUJARAT STATE PETROLEUM CORPORATION LTD, 37.63%.
| Holder | ||
|---|---|---|
| GUJARAT STATE PETROLEUM CORPORATION LTDIndian companies, trusts and others | 37.63% | 21,23,05,270 |
Largest public holders of Gujarat State Petronet, filing by filing
Per cent, on the same shares as the split above.
| Holder | Sep 2021 | Dec 2021 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GUJARAT MARITIME BOARDCompanies | – | – | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% | 6.57% |
| GOVERNMENT PENSION FUND GLOBALForeign portfolio investors, category I | 2.53% | 2.53% | 2.70% | 2.70% | 2.77% | 2.77% | 2.77% | 2.77% | 2.94% | 2.81% | 2.56% | 2.62% | 2.61% | 2.73% | 2.73% | 2.73% | 2.72% | 2.49% |
| GUJARAT URJA VIKAS NIGAM LIMITEDGovernment-promoted companies | – | – | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% | 2.01% |
| ABU DHABI INVESTMENT AUTHORITY - MONSOONForeign portfolio investors, category I | – | – | – | – | – | – | – | – | – | – | – | – | 1.16% | 1.41% | 1.38% | 1.47% | 1.47% | 1.52% |
| GUJARAT INDUSTRIAL DEVELOPMENT CORPORATIONCompanies | – | – | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% |
| GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LCompanies | – | – | – | – | – | – | – | – | – | – | – | 1.42% | – | – | – | 1.42% | – | 1.42% |
| GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LTDCompanies | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | 1.42% | – | 1.42% | 1.42% | 1.42% | – | 1.42% | – |
| Letko Brosseau Emerging Markets Equity FundForeign portfolio investors, category I | – | – | 1.12% | 1.20% | 1.20% | 1.22% | 1.26% | 1.26% | 1.26% | 1.26% | 1.33% | – | – | – | – | – | – | – |
| UTILICO EMERGING MARKETS TRUST PLCForeign portfolio investors, category II | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% | – | – | – | – | – | – | – | – | – |
| LICI ASM NON PARInsurance companies | – | – | – | 1.28% | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| QUALIFIED INSTITUTIONAL BUYER LICI ASM NON PAROther non-institutions | – | – | 1.58% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. owned Bodies Corporates - GUJARAT MARITIME BOARDCentral Government Or State Government SOr President Of India | – | 6.57% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. owned Bodies Corporates - GUJARAT URJA VIKAS NIGAM LIMITEDCentral Government Or State Government SOr President Of India | – | 2.01% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| Qualified Institutional Buyer - LIFE INSURANCE CORPORATION OF INDIAOther non-institutions | 1.61% | 1.58% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. owned Bodies Corporates - GUJARAT INDUSTRIAL DEVELOPMENT CORPORATIONCentral Government Or State Government SOr President Of India | – | 1.42% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. Owned Body Corporate- GUJARAT MARITIME BOARDCentral Government Or State Government SOr President Of India | 6.57% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. Owned Body Corporate- GUJARAT URJA VIKAS NIGAM LIMITEDCentral Government Or State Government SOr President Of India | 2.01% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
| State Govt. Owned Body Corporate- GUJARAT INDUSTRIAL DEVELOPMENT CORPORATIONCentral Government Or State Government SOr President Of India | 1.42% | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – | – |
Who moved in the Mar 2026 filing
Against the Dec 2025 filing. A filing names a public holder only at 1% or more, so a holder no longer named fell under 1% or sold out.
- Foreign institutions: GOVERNMENT PENSION FUND GLOBAL 2.49%, −0.23 pts; ABU DHABI INVESTMENT AUTHORITY - MONSOON 1.52%, +0.05 pts
- Individuals and others: GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS L newly named at 1.42%; GUJARAT NARMADA VALLEY FERTILIZERS AND CHEMICALS LTD no longer named, from 1.42%
Gujarat State Petronet dividend calendar
Each payment in the month it went ex, as declared, ₹ a share at the time. Years running counted to the year to Mar 2025.
- Paid 16 years running, from the year to Mar 2010Paid years running. Consecutive years ending here in which a dividend was declared, counted from 2007.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | In the year |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | ₹5.00 | ₹5.00 | |||||||||||
| 2024 | ₹5.00 | ₹5.00 | |||||||||||
| 2023 | ₹5.00 | ₹5.00 | |||||||||||
| 2022 | ₹2.00 | ₹2.00 | |||||||||||
| 2021 | ₹2.00 | ₹2.00 | |||||||||||
| 2020 | ₹2.00 | ₹2.00 | |||||||||||
| 2019 | ₹2.00 | ₹2.00 | |||||||||||
| 2018 | ₹1.75 | ₹1.75 |
Interim or final dividendSpecial dividendNone that month
Dividends by year
The share of each year's profit paid out, for the year it was paid for.
Share of profit paid out, %, where the year's results are on record
Dividend payout. Dividends per share on the year end's share count × shares in issue ÷ profit to the company's own shareholders for the year × 100, on the consolidated accounts, which cover the group with its subsidiaries; empty where that year's results are not on record, show a loss or have no share count, and for a row that is not a full year. Dividend payout in the glossaryGujarat State Petronet dividend history
Every payment with its ex-date and record date, year by year.
2025
- Sep10Wed
₹5.00Final
Ex-date and record date 10 Sep 2025 · announced 22 May 2025
1.65%of the price
2024
- Sep6Fri
₹5.00FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary
Ex-date and record date 6 Sep 2024
1.09%of the price
2023
- Sep1Fri
₹5.00Final
Ex-date and record date 1 Sep 2023 · announced 11 May 2023
1.81%of the price
2022
- Sep1Thu
₹2.00Final
Ex-date 1 Sep 2022 · record date 2 Sep 2022
0.83%of the price
2021
- Sep8Wed
₹2.00Final
Ex-date 8 Sep 2021 · record date 9 Sep 2021
0.57%of the price
2020
- Sep9Wed
₹2.00Final
Ex-date 9 Sep 2020 · record date 10 Sep 2020
1.01%of the price
2019
- Sep12Thu
₹2.00Final
Ex-date 12 Sep 2019 · books closed to 24 Sep 2019 · announced 9 May 2019
0.92%of the price
2018
- Sep19Wed
₹1.75Final
Ex-date 19 Sep 2018 · books closed to 28 Sep 2018 · announced 21 May 2018
0.97%of the price
2017
- Sep20Wed
₹1.50Final
Ex-date 20 Sep 2017 · books closed to 28 Sep 2017
0.74%of the price
2016
- Sep14Wed
₹1.50Final
Ex-date 14 Sep 2016 · books closed to 22 Sep 2016
1.00%of the price
2015
- Sep15Tue
₹1.20Final
Ex-date 15 Sep 2015 · books closed to 24 Sep 2015
1.02%of the price
2014
- Sep18Thu
₹1.00Final
Ex-date 18 Sep 2014 · books closed to 25 Sep 2014
1.02%of the price
2013
- Sep19Thu
₹1.00Final
Ex-date 19 Sep 2013 · books closed to 27 Sep 2013
1.98%of the price
2012
- Sep13Thu
₹1.00Final
Ex-date 13 Sep 2012 · books closed to 25 Sep 2012
1.29%of the price
2011
- Sep15Thu
₹1.00Final
Ex-date 15 Sep 2011 · books closed to 23 Sep 2011
0.92%of the price
2010
- Sep13Mon
₹1.00Final
Ex-date 13 Sep 2010 · books closed to 21 Sep 2010
0.87%of the price
2009
- Nov26Thu
₹0.75Dividend
Ex-date 26 Nov 2009 · books closed to 3 Dec 2009
0.77%of the price
2008
- Sep15Mon
₹0.50Final
Ex-date 15 Sep 2008 · books closed to 26 Sep 2008
0.86%of the price
2007
- Sep10Mon
₹0.50Final
Ex-date 10 Sep 2007 · books closed to 21 Sep 2007
0.83%of the price
Grouped by the calendar year each went ex, so a year's total here can differ from the year it was paid for above. Of the price is the dividend as a share of the close on the session before its ex-date. A book closure is the run of days the company's register is frozen to settle who is paid; a record date is the one-day form of it.
Gujarat State Petronet share price by year
Each calendar year to 2025.
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 306.25 | −15.4% | 367.90 | 267.85 |
| 2024 | 361.90 | +18.3% | 460.40 | 277.55 |
| 2023 | 306.00 | +16.0% | 308.60 | 259.20 |
| 2022 | 263.70 | −10.7% | 326.20 | 211.90 |
| 2021 | 295.15 | +33.2% | 374.25 | 195.45 |
| 2020 | 221.60 | +1.0% | 262.50 | 150.10 |
| 2019 | 219.50 | +24.8% | 224.55 | 152.45 |
| 2018 | 175.85 | −22.7% | 224.70 | 167.00 |
| 2017 | 227.50 | +62.8% | 227.50 | 136.25 |
| 2016 | 139.75 | +2.1% | 166.70 | 122.20 |
Recent sessions
The 10 trading days to 11 May 2026, as traded on BSE.
| Date | Open | High | Low | Close | Average price | Volume |
|---|---|---|---|---|---|---|
| 11 May 2026 | 287.55 | 290.00 | 257.15 | 268.35 | 272.69 | 80,24,578 |
| 8 May 2026 | 297.35 | 299.70 | 287.20 | 288.95 | 289.68 | 15,17,698 |
| 7 May 2026 | 298.30 | 301.20 | 292.60 | 296.75 | 295.61 | 19,70,296 |
| 6 May 2026 | 290.95 | 298.60 | 287.45 | 296.40 | 293.40 | 9,26,488 |
| 5 May 2026 | 289.00 | 290.40 | 284.60 | 289.25 | 287.98 | 2,96,503 |
| 4 May 2026 | 286.85 | 294.40 | 286.00 | 289.90 | 290.35 | 6,37,657 |
| 30 Apr 2026 | 284.00 | 288.25 | 282.34 | 285.19 | 285.24 | 5,79,462 |
| 29 Apr 2026 | 282.10 | 285.85 | 282.10 | 284.48 | 284.36 | 3,79,832 |
| 28 Apr 2026 | 283.00 | 286.26 | 280.24 | 281.77 | 283.03 | 4,67,004 |
| 27 Apr 2026 | 278.40 | 282.27 | 275.51 | 281.46 | 278.72 | 8,84,076 |
Company details
- BSE code
- 532702
- ISIN
- INE246F01010
- Industry
- Gas
- Former symbols
- GSPL
- Website
- www.gspcgroup.com
- CIN
- L40200GJ1998SGC035188
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 1998
- Registered office
- GSPC Bhavan, Sector - 11, Behind Udyog Bhavan, Gandhi Nagar 382010, Gujarat
- Share registrar
- KFin Technologies Ltd
- Keeps the register of shareholders and handles transfers and dividend payments