GUJGASLTD - Gujarat Gas Limited Share Price

Gas

₹472.55-2.65(-0.56%)

Market Closed as of Jun 17, 2025, 15:30 IST

What does Gujarat Gas Limited do?

LPG/CNG/PNG/LNG Supplier•Oil, Gas & Consumable Fuels•Mid Cap

Gujarat Gas is a prominent supplier of LPG, CNG, PNG, and LNG in India, operating under the stock ticker GUJGASLTD.

With a market capitalization of Rs. 26,778.4 Crores, the company specializes in the distribution of natural gas across the country. It boasts an extensive network of approximately 40,200 kilometers of natural gas pipelines and 811 compressed natural gas stations. Currently, Gujarat Gas provides piped natural gas to around 21.52 lakh households, 4,400 industrial customers, and 15,200 commercial clients.

The company operates in 44 districts spread across 6 statesÃ¢â‚¬â€Gujarat, Maharashtra, Rajasthan, Haryana, Punjab, Madhya PradeshÃ¢â‚¬â€as well as in the union territory of Dadra and Nagar Haveli. Originally known as GSPC Distribution Networks Limited, it rebranded to Gujarat Gas Limited in May 2015 and was incorporated in 2012 with its headquarters in Gandhinagar, India. Notably, Gujarat Gas Limited is a subsidiary of Gujarat State Petronet Limited.

In terms of financial performance, Gujarat Gas reported a trailing 12-month revenue of Rs. 17,354.9 Crores. The company is also committed to returning value to its investors, offering a dividend yield of 3.16% per year, with a total of Rs. 12.31 returned as dividend per share in the past year. Over the last three years, Gujarat Gas has demonstrated a revenue growth of 11.4%.

Industry Group:Gas

Employees:942

Website:www.gujaratgas.com

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Category	GUJGASLTD	Gas
PE	25.74	15.21
PS	1.88	0.82
Growth	7.3 %	1.7 %

Share Holdings

Understand Gujarat Gas ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Gujarat State Petronet Limited	54.17%
GUJARAT STATE FERTILIZERS & CHEMICALS LIMITED	6.82%
GOVERNOR OF GUJARAT	6.53%
LICI NEW PENSION PLUS SECURED FUND	6.06%
GUJARAT INDUSTRIAL DEVELOPMENT CORPORATION	3.87%
GUJARAT ALKALIES AND CHEMICALS LIMITED	3.1%
ICICI PRUDENTIAL ENERGY OPPORTUNITIES FUND	2.75%
NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA NIF	1.13%
Gujarat State Energy Generation Limited	0.19%
Gujarat State Petroleum Corporation Limited	0%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Summary of Latest Earnings Report from Gujarat Gas

Summary of Gujarat Gas's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: May 25

Gujarat Gas Limited's management outlook for FY '26 is cautiously optimistic, with a projected growth of 12% in CNG volumes and stability in the domestic and commercial segments. The company reported a total volume of 9.62 mmscmd for FY '25, a near 3% increase over the previous fiscal year. The CNG segment particularly highlighted an 8% year-on-year growth in sales in Gujarat and 28% growth in sales outside Gujarat, totaling an all-time high of 3.56 mmscmd for Q4 FY '25.

In terms of financial performance, Gujarat Gas recorded a revenue from operations of INR 4,289 crores for Q4 FY '25, nearly flat compared to INR 4,294 crores in the same period last year. EBITDA for the same quarter was registered at INR 524 crores, down from INR 622 crores in Q4 FY '24, leading to a PAT of INR 287 crores, compared to INR 410 crores a year ago. For FY '25, the EBITDA remained resilient at INR 2,090 crores, up from INR 1,984 crores the previous year.

Management noted that the capex guidance for FY '26 is set at approximately INR 1,000 crores, with a specific focus on expanding the gas infrastructure and digital transformation across operations. Furthermore, the merger and demerger processes are expected to enhance operational efficiencies. While the APM gas allocation is under pressure, a new sourcing strategy is being developed to mitigate potential impacts on profitability.

Key forward-looking points include:

Capex plans of INR 1,000 crores for FY '26.
Continued double-digit growth in CNG volumes anticipated, with an expected growth of 12%.
Production in Morbi expected to stabilize around 2.6-2.7 mmscmd, contingent on broader market conditions.
Hopes for a favorable outcome from ongoing negotiations related to gas sourcing contracts.
Expected completion of the merger by September/October 2025, which could significantly enhance sourcing efficiencies.

Q&A Session

Last updated: May 25

Major Questions and Answers from the Earnings Transcript

1. Question from Probal Sen:
Can we get a little bit of a detail on the sourcing mix on the overall volume, how much is coming via term LNG?

Answer:
For the sourcing breakdown, about 25% of our gas comes from APM, totaling 2.3 mmscmd. Long-term contracts account for approximately 35%, contributing to 3.3 mmscmd, while short-term contracts, including IGX and spot gas, make up about 40%, totaling 3.77 mmscmd.

2. Question from Yash Nandwani:
What is the outlook on Gujarat gas volumes in Morbi for FY '26, and how are they trending in the first quarter of FY '26?

Answer:
Currently, we are handling around 2.6 to 2.7 mmscmd in Morbi, and we don't see a significant increase in volumes for the current quarter. The spot and propane prices have decreased, leading us to project stable volumes in the near term.

3. Question from Amit Murarka:
What are the numbers for gas sourcing, for various contract types, especially concerning the APM?

Answer:
In our sourcing for Q4, APM gas amounted to about 2.3 mmscmd. Long-term contracts contributed around 3.3 mmscmd, while short-term contracts, including spot LNG, accounted for 3.77 mmscmd.

4. Question from Yogesh Patil:
What is the current status of the scheme of arrangement involving GSPC?

Answer:
The scheme was approved by our Board in August 2024 and subsequently filed with the Ministry of Corporate Affairs in February 2025. We expect the final MCA approval and finalization around September to October 2025.

5. Question from Deepak Malhotra:
How do you foresee the overall profitability of the business if APM allocation changes?

Answer:
While the APM changes may affect margins, we believe that through the merger with GSPC, we are positioned well to manage sourcing better. We will focus on increasing volumes, leading to sustainable profitability despite any challenges related to APM reductions.

6. Question from S. Ramesh:
Are you seeing any losses from new geographical areas, and when will they break even?

Answer:
The new areas require significant infrastructure investment, typically taking around 3-4 years to break even. At this point, we are not booking losses at the profit-before-tax level; we view these investments as essential for future growth.

7. Question from Varatharajan:
Are you anticipating new units or volume growth in Morbi?

Answer:
Yes, we are seeing new units emerge in Morbi, with at least nine new units confirmed. However, the overall volume growth specifics depend on broader market conditions, particularly concerning propane and LNG prices.

These questions reflect the strategic and operational strategies Gujarat Gas is employing to maintain growth and manage costs amid a dynamic gas market.

Cash Flow for Gujarat Gas

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	-28.2%	29	40	57
Change in inventories	117.2%	2.51	-7.79	-0.91
Depreciation	10.8%	474	428	385
Adjustments for interest income	21.6%	63	52	34
Net Cashflows from Operations	-31.1%	1,957	2,839	2,098
Income taxes paid (refund)	-30%	323	461	436
Net Cashflows From Operating Activities	-31.3%	1,634	2,378	1,662
Proceeds from sales of PPE	-26.4%	0.09	0.28	0.03
Purchase of property, plant and equipment	-23%	837	1,087	1,366
Dividends received	-	1.64	0	0
Interest received	22.4%	61	50	33
Other inflows (outflows) of cash	15.3%	-3.86	-4.74	40
Net Cashflows From Investing Activities	15.6%	-878.65	-1,041.33	-1,293.54
Repayments of borrowings	-100.2%	0	478	419
Payments of lease liabilities	16.7%	29	25	19
Dividends paid	232.8%	457	138	137
Interest paid	-29.7%	27	38	53
Net Cashflows from Financing Activities	24.2%	-514.11	-678.37	-628.44
Net change in cash and cash eq.	-63.5%	241	658	-260.22

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	-28.2%	29	40	57
Change in inventories	117.2%	2.51	-7.79	-0.91
Depreciation	10.8%	474	428	385
Adjustments for interest income	21.6%	63	52	34
Net Cashflows from Operations	-31%	1,957	2,836	2,098
Income taxes paid (refund)	-30%	323	461	436
Net Cashflows From Operating Activities	-31.2%	1,634	2,375	1,662
Proceeds from sales of PPE	-26.4%	0.09	0.28	0.03
Purchase of property, plant and equipment	-23%	837	1,087	1,366
Dividends received	-	1.64	0	0
Interest received	22.4%	61	50	33
Other inflows (outflows) of cash	-34.6%	-3.86	-2.61	40
Net Cashflows From Investing Activities	15.4%	-878.65	-1,039.05	-1,293.53
Repayments of borrowings	-100.2%	0	478	419
Payments of lease liabilities	16.7%	29	25	19
Dividends paid	232.8%	457	138	137
Interest paid	-29.7%	27	38	53
Net Cashflows from Financing Activities	24.2%	-514.11	-678.37	-628.44
Net change in cash and cash eq.	-63.5%	241	658	-260.23

Investor Care
Dividend Yield	3%
Dividend/Share (TTM)	12.31
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	18.45

Financial Health
Current Ratio	0.88
Debt/Equity	0.00
Debt/Cashflow	0.00

Balance Sheet for Gujarat Gas

Standalone figures (in Rs. Crores) / View Consolidated Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	44.4%	1,322	916	760	675	398	20
Loans, current	-27.6%	2.44	2.99	3.69	3.84	3.94	2.91
Total current financial assets	36%	2,681	1,972	1,803	1,716	1,310	971
Inventories	3.4%	61	59	62	61	65	53
Total current assets	29.8%	2,894	2,229	2,061	1,979	1,553	1,388
Property, plant and equipment	3.1%	7,447	7,224	6,974	6,860	6,442	5,968
Capital work-in-progress	-1.9%	883	900	1,000	958	1,023	966
Investment property	0%	1.3	1.3	1.3	1.3	1.3	1.3
Non-current investments	0%	135	135	130	30	22	22
Loans, non-current	-60.7%	1.48	2.22	2.68	2.74	3.17	3.56
Total non-current financial assets	-2.1%	237	242	233	131	110	107
Total non-current assets	0.8%	9,506	9,430	9,223	8,916	8,486	8,168
Total assets	6.4%	12,399	11,658	11,284	10,895	10,039	9,555
Borrowings, non-current	-	0	0	0	0	152	391
Total non-current financial liabilities	-5.1%	112	118	125	124	279	516
Provisions, non-current	-5.8%	50	53	55	55	52	54
Total non-current liabilities	2.5%	1,183	1,154	1,118	1,096	1,223	1,447
Borrowings, current	-	0	0	0	0	38	90
Total current financial liabilities	12.4%	2,969	2,641	2,843	2,642	2,320	2,400
Provisions, current	30.8%	35	27	38	27	42	33
Current tax liabilities	948%	60	6.63	29	0	62	0
Total current liabilities	16.4%	3,277	2,815	3,113	2,803	2,567	2,509
Total liabilities	12.4%	4,460	3,969	4,231	3,899	3,790	3,956
Equity share capital	0%	138	138	138	138	138	138
Total equity	3.3%	7,940	7,689	7,054	6,996	6,249	5,599
Total equity and liabilities	6.4%	12,399	11,658	11,284	10,895	10,039	9,555

Consolidated figures (in Rs. Crores) / View Standalone Data

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	44.4%	1,322	916	760	675	398	20
Loans, current	-27.6%	2.44	2.99	3.69	3.84	3.94	2.91
Total current financial assets	36%	2,681	1,972	1,803	1,716	1,310	973
Inventories	3.4%	61	59	62	61	65	53
Total current assets	29.8%	2,894	2,229	2,061	1,979	1,553	1,390
Property, plant and equipment	3.1%	7,447	7,224	6,974	6,860	6,442	5,968
Capital work-in-progress	-1.9%	883	900	1,000	958	1,023	966
Investment property	0%	1.3	1.3	1.3	1.3	1.3	1.3
Non-current investments	0%	135	135	130	30	22	22
Loans, non-current	-60.7%	1.48	2.22	2.68	2.74	3.17	3.56
Total non-current financial assets	-2.1%	237	242	233	131	110	107
Total non-current assets	0.8%	9,542	9,463	9,255	8,948	8,517	8,197
Total assets	6.4%	12,435	11,692	11,316	10,927	10,070	9,587
Borrowings, non-current	-	0	0	0	0	152	391
Total non-current financial liabilities	-5.1%	112	118	125	124	279	516
Provisions, non-current	-5.8%	50	53	55	55	52	54
Total non-current liabilities	2.5%	1,183	1,154	1,118	1,096	1,223	1,447
Borrowings, current	-	0	0	0	0	38	90
Total current financial liabilities	12.4%	2,969	2,641	2,843	2,642	2,320	2,402
Provisions, current	30.8%	35	27	38	27	42	33
Current tax liabilities	948%	60	6.63	29	0	62	0
Total current liabilities	16.4%	3,277	2,815	3,113	2,803	2,567	2,511
Total liabilities	12.4%	4,460	3,969	4,231	3,899	3,790	3,957
Equity share capital	0%	138	138	138	138	138	138
Total equity	3.3%	7,976	7,722	7,085	7,028	6,280	5,630
Total equity and liabilities	6.4%	12,435	11,692	11,316	10,927	10,070	9,587

Income Statement for Gujarat Gas

Standalone figures (in Rs. Crores) / View Consolidated Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	9.7%	4,333	3,949	4,615	4,294	4,084	3,991
Other Income	52.6%	59	39	39	31	23	30
Total Income	10.1%	4,391	3,987	4,653	4,325	4,107	4,021
Cost of Materials	16.4%	3,430	2,947	3,590	3,183	3,225	3,055
Employee Expense	-6.1%	47	50	49	48	48	51
Finance costs	19.4%	9.3	7.95	7.8	6.94	7.2	7.79
Depreciation and Amortization	-0.8%	129	130	123	121	120	118
Other expenses	9.6%	479	437	442	470	412	390
Total Expenses	14.5%	4,091	3,572	4,210	3,831	3,811	3,620
Profit Before exceptional items and Tax	-27.8%	300	415	443	494	296	401
Exceptional items before tax	-	0	0	0	56	0	0
Total profit before tax	-27.8%	300	415	443	550	296	401
Current tax	-28.4%	64	89	98	116	59	92
Deferred tax	-27.8%	14	19	16	24	17	10
Total tax	-27.1%	79	108	114	140	76	103
Total profit (loss) for period	-27.8%	222	307	330	410	220	298
Other comp. income net of taxes	-1066.7%	0.71	1.03	2.3	4.36	1.4	1.85
Total Comprehensive Income	-28%	222	308	332	414	222	300
Earnings Per Share, Basic	-35.8%	3.22	4.46	4.79	5.95	3.2	4.33
Earnings Per Share, Diluted	-35.8%	3.22	4.46	4.79	5.95	3.2	4.33

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	-5.9%	16,293	17,306	16,787	10,042	10,526	7,962
Other Income	7%	108	101	91	74	84	111
Total Income	-5.8%	16,401	17,407	16,878	10,116	10,610	8,074
Cost of Materials	-5.4%	12,555	13,276	13,444	6,991	7,882	6,084
Employee Expense	1.5%	199	196	191	177	175	160
Finance costs	-28.2%	29	40	57	116	192	196
Depreciation and Amortization	10.8%	474	428	385	341	318	288
Other expenses	15%	1,662	1,445	1,083	787	835	735
Total Expenses	-3%	14,920	15,383	15,153	8,412	9,402	7,462
Profit Before exceptional items and Tax	-26.9%	1,481	2,025	1,725	1,705	1,208	612
Exceptional items before tax	-	56	0	-11.9	0	0	-17.87
Total profit before tax	-24.2%	1,536	2,025	1,713	1,705	1,208	594
Current tax	-28.4%	332	463	416	424	294	132
Deferred tax	74.3%	62	36	12	5.06	-279.79	44
Total tax	-21.3%	393	499	428	429	14	177
Total profit (loss) for period	-25.1%	1,143	1,525	1,286	1,276	1,193	417
Other comp. income net of taxes	1.9%	8.66	8.52	2.69	2.57	-3.7	-2.06
Total Comprehensive Income	-25%	1,151	1,534	1,288	1,278	1,190	415
Earnings Per Share, Basic	-26.3%	16.6	22.16	18.68	18.53	17.33	6.06
Earnings Per Share, Diluted	-26.3%	16.6	22.16	18.68	18.53	17.33	6.06

Consolidated figures (in Rs. Crores) / View Standalone Data

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	9.7%	4,333	3,949	4,615	4,294	4,084	3,991
Other Income	47.4%	57	39	39	31	23	28
Total Income	10.1%	4,389	3,987	4,653	4,325	4,107	4,019
Cost of Materials	16.4%	3,430	2,947	3,590	3,183	3,225	3,055
Employee Expense	-6.1%	47	50	49	48	48	51
Finance costs	19.4%	9.3	7.95	7.8	6.94	7.2	7.79
Depreciation and Amortization	-0.8%	129	130	123	121	120	118
Other expenses	9.6%	479	437	442	470	412	390
Total Expenses	14.5%	4,091	3,572	4,210	3,831	3,811	3,620
Profit Before exceptional items and Tax	-28%	299	415	443	494	296	399
Exceptional items before tax	-	0	0	0	56	0	0
Total profit before tax	-28%	299	415	443	550	296	399
Current tax	-28.4%	64	89	98	116	59	92
Deferred tax	-27.8%	14	19	16	24	17	10
Total tax	-27.1%	79	108	114	140	76	103
Total profit (loss) for period	-28.6%	221	309	331	410	221	296
Other comp. income net of taxes	-3300%	0.68	1.01	2.28	4.35	1.4	1.84
Total Comprehensive Income	-28.5%	222	310	333	415	222	298
Earnings Per Share, Basic	-36.5%	3.21	4.48	4.8	5.96	3.21	4.3
Earnings Per Share, Diluted	-36.5%	3.21	4.48	4.8	5.96	3.21	4.3

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	-5.9%	16,293	17,306	16,787	10,042	10,526	7,962
Other Income	5%	106	101	91	74	84	112
Total Income	-5.8%	16,399	17,407	16,878	10,116	10,610	8,074
Cost of Materials	-5.4%	12,555	13,276	13,444	6,991	7,882	6,084
Employee Expense	1.5%	199	196	191	177	175	160
Finance costs	-28.2%	29	40	57	116	192	196
Depreciation and Amortization	10.8%	474	428	385	341	318	288
Other expenses	15%	1,662	1,445	1,083	787	835	735
Total Expenses	-3%	14,920	15,383	15,153	8,412	9,402	7,462
Profit Before exceptional items and Tax	-27%	1,479	2,025	1,725	1,705	1,208	612
Exceptional items before tax	-	56	0	-11.9	0	0	-17.87
Total profit before tax	-24.2%	1,535	2,025	1,714	1,705	1,208	594
Current tax	-28.4%	332	463	416	424	294	132
Deferred tax	74.3%	62	36	12	5.06	-285.14	45
Total tax	-21.3%	393	499	428	429	9.16	177
Total profit (loss) for period	-25.1%	1,144	1,528	1,287	1,278	1,199	418
Other comp. income net of taxes	3.4%	8.61	8.36	2.68	2.54	-3.75	-2.09
Total Comprehensive Income	-25.1%	1,152	1,537	1,290	1,280	1,195	416
Earnings Per Share, Basic	-26.4%	16.61	22.2	18.7	18.56	17.41	6.08
Earnings Per Share, Diluted	-26.4%	16.61	22.2	18.7	18.56	17.41	6.08

Valuation
Market Cap	32.53 kCr
Price/Earnings (Trailing)	25.6
Price/Sales (Trailing)	1.87
EV/EBITDA	14.51
Price/Free Cashflow	42.47
MarketCap/EBT	19.06

Fundamentals
Revenue (TTM)	17.35 kCr
Rev. Growth (Yr)	6.87%
Rev. Growth (Qtr)	10.09%
Earnings (TTM)	1.27 kCr
Earnings Growth (Yr)	-0.01%
Earnings Growth (Qtr)	-28.42%

Profitability
Operating Margin	9.51%
EBT Margin	9.83%
Return on Equity	15.94%
Return on Assets	10.22%
Free Cashflow Yield	2.35%

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
GAIL	Gail (India)Gas Transmission/Marketing	1.25 LCr	1.4 LCr	+2.00%	-14.35%	10.05	0.89	+3.28%	+54.02%
ATGL	ADANI TOTAL GASLPG/CNG/PNG/LNG Supplier	70.94 kCr	5.44 kCr	-5.37%	-31.85%	108.4	13.03	+11.97%	-1.96%
IGL	Indraprashtha GasLPG/CNG/PNG/LNG Supplier	29.25 kCr	16.8 kCr	-0.14%	-13.42%	17.07	1.74	+6.90%	-13.63%
GSPL	Gujarat State PetronetGas Transmission/Marketing	18.51 kCr	18.58 kCr	-6.39%	+7.61%	9.5	1	+4.43%	-5.58%
MGL	Mahanagar GasLPG/CNG/PNG/LNG Supplier	14.15 kCr	8.15 kCr	+2.95%	-2.28%	13.49	1.74	+15.75%	-17.80%

GUJGASLTD - Gujarat Gas Limited Share Price

What does Gujarat Gas Limited do?

Latest News and Updates from Gujarat Gas

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Sector Comparison: GUJGASLTD vs Gas

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Summary of Latest Earnings Report from Gujarat Gas

Major Questions and Answers from the Earnings Transcript

Cash Flow for Gujarat Gas

Investor Care

Financial Health

Balance Sheet for Gujarat Gas

Income Statement for Gujarat Gas

Valuation

Fundamentals

Profitability

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