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Guj. State Petronet Overview

Gujarat State Petronet Limited (GSPL) is a natural gas infrastructure and transmission enterprise engaged in gas transportation business. The Company is engaged in transmission of natural gas through pipelines on an open access basis to foundation from deliver points to call for facilities. It additionally generates electricity thru windmills. Its segments consist of Gas Transportation and Windmill. It develops electricity transportation infrastructure and connects natural gasoline supply resources, such as LN terminals to various markets. It h...Read More

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Guj. State Petronet Key Financials

Market Cap ₹16303 Cr.

Stock P/E 10

P/B 1.3

Current Price ₹289

Book Value ₹ 218.4

Face Value 10

52W High ₹360

Dividend Yield 1.73%

52W Low ₹ 226

Guj. State Petronet Share Price

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Volume
Price

Guj. State Petronet Quarterly Price

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Guj. State Petronet Peer Comparison

Guj. State Petronet Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 4411 4544 4692 4892 4159 4540 4477 4301 4206 4092
Other Income 45 42 59 69 76 96 109 101 114 96
Total Income 4456 4587 4751 4961 4235 4636 4586 4402 4321 4187
Total Expenditure 3503 3763 3722 4055 3452 3967 3903 3579 3586 3479
Operating Profit 952 823 1029 906 782 669 683 823 735 709
Interest 8 8 8 8 8 10 11 8 8 9
Depreciation 165 168 169 171 179 179 179 184 188 189
Exceptional Income / Expenses 0 0 56 0 0 0 0 0 0 0
Profit Before Tax 779 647 907 727 595 480 493 631 539 511
Provision for Tax 199 165 236 185 154 125 133 161 138 131
Profit After Tax 580 483 671 541 441 356 359 469 401 380
Adjustments -126 -88 -196 -167 -160 -122 -139 -155 -140 -123
Profit After Adjustments 455 395 475 375 282 234 220 315 261 257
Adjusted Earnings Per Share 8.1 7 8.4 6.6 5 4.1 3.9 5.6 4.6 4.6

Guj. State Petronet Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 1065 992 5901 7261 9345 12244 11535 17991 18117 17295 17370 17076
Other Income 55 47 104 96 138 108 91 106 133 186 350 420
Total Income 1120 1039 6005 7357 9483 12351 11626 18096 18250 17481 17720 17496
Total Expenditure 149 126 4260 5217 6805 9021 7961 14491 14437 13887 14660 14547
Operating Profit 971 913 1746 2140 2678 3331 3665 3606 3813 3594 3060 2950
Interest 118 80 278 242 427 369 227 112 70 56 57 36
Depreciation 189 183 436 447 468 518 542 579 621 664 709 740
Exceptional Income / Expenses 0 0 0 0 -18 0 0 -12 0 56 0 0
Profit Before Tax 664 697 1046 1477 1780 2438 2936 2957 3125 2935 2234 2174
Provision for Tax 251 231 327 519 590 159 743 726 783 751 597 563
Profit After Tax 412 465 718 958 1190 2279 2192 2231 2342 2184 1637 1609
Adjustments 74 0 -164 -217 -192 -549 -586 -593 -701 -524 -526 -557
Profit After Adjustments 486 465 554 741 999 1729 1607 1638 1641 1660 1111 1053
Adjusted Earnings Per Share 8.6 8.3 9.8 13.1 17.7 30.7 28.5 29 29.1 29.4 19.7 18.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 0% -1% 7% 32%
Operating Profit CAGR -15% -5% -2% 12%
PAT CAGR -25% -10% -6% 15%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -8% 1% 2% 8%
ROE Average 15% 21% 27% 27%
ROCE Average 20% 29% 32% 27%

Guj. State Petronet Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 3780 3986 4526 2428 3295 4884 6391 7919 9449 10825 11646
Minority's Interest 161 0 1235 855 1011 1520 2068 2599 3239 3558 3909
Borrowings 888 790 2793 3972 3375 2378 1095 391 0 0 0
Other Non-Current Liabilities 485 589 1544 1640 1794 1463 1508 1567 1610 1648 1720
Total Current Liabilities 555 473 1711 3066 2987 3104 3107 2818 3018 3025 3532
Total Liabilities 5868 5838 11808 11963 12461 13350 14169 15294 17316 19056 20807
Fixed Assets 3169 3123 8067 8207 8896 9255 9496 9945 10480 10778 11683
Other Non-Current Assets 1921 1825 2147 2438 2023 2242 2883 3558 3701 4268 3526
Total Current Assets 778 890 1594 1318 1542 1853 1790 1791 3136 4011 5582
Total Assets 5868 5838 11808 11963 12461 13350 14169 15294 17316 19056 20807

Guj. State Petronet Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 135 91 99 29 118 168 640 361 90 810 924
Cash Flow from Operating Activities 626 603 1644 1669 2044 2771 2897 2748 3340 2803 2741
Cash Flow from Investing Activities -201 -321 -835 -3593 -612 -806 -1080 -1359 -1815 -2142 -2754
Cash Flow from Financing Activities -438 -297 -879 2013 -1382 -1494 -2096 -1659 -805 -547 -544
Net Cash Inflow / Outflow -13 -15 -70 89 50 471 -279 -271 720 114 -556
Closing Cash & Cash Equivalent 122 76 29 118 168 640 361 90 810 924 368

Guj. State Petronet Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 8.64 8.26 9.84 13.15 17.71 30.65 28.48 29.04 29.09 29.41 19.69
CEPS(Rs) 10.68 11.51 20.49 24.92 29.41 49.58 48.46 49.81 52.51 50.47 41.58
DPS(Rs) 1.2 1.5 1.5 1.75 2 2 2 2 5 5 5
Book NAV/Share(Rs) 67.03 70.68 80.23 43.02 58.4 86.57 113.27 140.35 167.47 191.86 206.41
Core EBITDA Margin(%) 85.98 87.31 27.15 27.52 26.59 25.85 30.48 19.1 19.72 19.04 15
EBIT Margin(%) 73.4 78.29 21.88 23.15 23.11 22.51 26.97 16.75 17.12 16.71 12.68
Pre Tax Margin(%) 62.33 70.24 17.29 19.89 18.64 19.55 25.03 16.14 16.74 16.4 12.36
PAT Margin (%) 38.73 46.9 11.88 12.91 12.46 18.27 18.7 12.18 12.55 12.2 9.06
Cash Profit Margin (%) 56.5 65.34 19.1 18.92 17.36 22.43 23.32 15.34 15.87 15.91 12.99
ROA(%) 7.17 7.95 8.14 8.06 9.75 17.66 15.93 15.14 14.36 12.01 8.22
ROE(%) 11.53 12 16.89 27.59 41.63 55.73 38.89 31.18 26.97 21.54 14.57
ROCE(%) 16.03 15.55 21.06 22.43 28.14 34.25 37.58 36.52 35.62 29.51 20.39
Receivable days 68.47 55.59 18.35 23.54 22.97 19.84 25.13 19.9 21.32 23.35 22.89
Inventory Days 30.8 41.94 8.2 8.21 7.21 5.41 5.52 4.23 5.04 5.53 5.94
Payable days 0 0 16.94 25.64 20.89 17.87 23.65 13.76 17.48 21.88 21.03
PER(x) 14.33 16.78 16.37 14.31 10.69 5.64 9.6 8.95 9.09 12.11 14.83
Price/Book(x) 1.85 1.96 2.01 4.37 3.24 2 2.41 1.85 1.58 1.86 1.41
Dividend Yield(%) 0.97 1.08 0.93 0.93 1.06 1.16 0.73 0.77 1.89 1.4 1.71
EV/Net Sales(x) 7.2 8.39 1.9 2.13 1.58 1.03 1.47 0.84 0.75 1.08 0.82
EV/Core EBITDA(x) 7.89 9.11 6.41 7.24 5.52 3.78 4.62 4.19 3.55 5.2 4.64
Net Sales Growth(%) 1.32 -6.83 494.93 23.04 28.7 31.02 -5.78 55.96 0.7 -4.54 0.44
EBIT Growth(%) -2.55 -0.61 70.39 29.89 28.42 27.15 12.67 -2.97 4.12 -6.38 -23.41
PAT Growth(%) -1.67 12.84 54.37 33.45 24.21 91.42 -3.78 1.76 4.98 -6.76 -25.02
EPS Growth(%) 16.91 -4.39 19.12 33.65 34.68 73.12 -7.1 1.96 0.2 1.1 -33.05
Debt/Equity(x) 0.31 0.27 0.66 2.22 1.39 0.74 0.3 0.07 0 0 0
Current Ratio(x) 1.4 1.88 0.93 0.43 0.52 0.6 0.58 0.64 1.04 1.33 1.58
Quick Ratio(x) 1.2 1.63 0.84 0.37 0.45 0.54 0.52 0.55 0.95 1.24 1.49
Interest Cover(x) 6.63 9.72 4.77 7.11 5.17 7.61 13.96 27.45 45.57 52.95 40.36
Total Debt/Mcap(x) 0.17 0.14 0.33 0.51 0.43 0.37 0.12 0.04 0 0 0

Guj. State Petronet Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 37.63 37.63 37.63 37.63 37.63 37.63 37.63 37.63 37.63 37.63
FII 16.03 15.67 15.85 15.21 14.67 14.75 15.11 15.47 15.49 15.54
DII 26.77 26.74 25.58 34.88 27.81 27.81 27.71 27.23 27.22 27.49
Public 19.57 19.95 20.94 12.29 19.89 19.81 19.55 19.67 19.66 19.34
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Guj. State Petronet News

Guj. State Petronet Pros & Cons

Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 21%
  • Debtor days have improved from 21.88 to 21.03days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 37.63%.
  • The company has delivered a poor profit growth of -6% over past five years.
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