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    Regulated Gas
Gujarat State Petronet Limited

Gujarat State Petronet Limited

GSPL.NS
Gujarat State Petronet LimitedIN flagNational Stock Exchange of India
268.35
INR
-20.60
- -
151.41BMarket Cap
Gujarat State Petronet Limited
GSPL.NS
(National Stock Exchange of India)

Recent

price

268.35

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
17.64
18.6
19.95
20.85
18.67
18.92
17.61
104.45
128.52
165.69
217.03
203.7
317.58
319.48
304.98
306.19
286.71
Revenue per Share
7.36
9.75
9.69
9.56
7.39
8.64
8.26
12.75
13.15
17.71
30.66
28.48
29.04
29.09
29.41
19.69
18.63
Basic EPS, GAAP
1.93
0.5
9.28
4.26
4.99
5.78
7.46
18.78
16.39
22.88
36.67
36.17
25.81
36.55
27.47
31.28
- -
Free Cash Flow per Basic Share
0.88
1.17
1.16
1.16
1.17
1.17
1.44
2.38
2.69
3.19
3.1
2.7
3.11
3.12
8.71
8.16
- -
Dividend per Share
0.05
29.73
38.25
46.63
52.83
55.79
62.57
75.72
91.82
107.19
135.3
161.78
188.82
215.9
240.31
255.01
- -
Book Value per Share
27.73
35.12
43.54
52.56
59.61
62.18
68.44
95
50.43
67.94
104.74
140.67
176.23
213.42
242.44
263.19
- -
Tangible Book Value per Share
562
563
563
563
563
563
563
563
564
564
564
564
564
564
564
564
565
Basic Weighted Avg Shares
9,920
10,465
11,224
11,732
10,507
10,646
9,919
58,850
72,450
93,436
122,416
114,925
179,183
180,256
172,075
172,756
161,958
Sales/Revenue/Turnover
72.57
80.19
75.91
75.51
70.91
69.41
68.87
20.65
22.29
22.19
22.11
26.42
16.32
16.99
15.96
11.64
8.43
Operating Margin (%)
2,393
1,300
1,822
1,861
1,839
1,892
1,829
4,365
4,469
4,680
5,180
5,419
5,796
6,208
6,641
7,092
13,197
Depreciation Expense
4,138
5,486
5,450
5,379
4,158
4,863
4,652
7,182
7,413
9,986
17,292
16,068
16,383
16,415
16,595
11,111
10,525
Net Income, GAAP
34
33.64
32.23
34.91
36.47
37.87
35.59
31.74
35.73
33.42
6.5
25.32
24.54
25.05
25.59
26.71
20.59
Effective Tax Rate (%)
41.71
52.42
48.55
45.85
39.57
45.68
46.9
12.2
10.23
10.69
14.13
13.98
9.14
9.11
9.64
6.43
6.5
Profit Margin (%)
-1,889
-1,906
1,506
6,834
2,816
2,765
4,176
-1,173
-17,483
-14,454
-12,509
-13,173
-10,275
1,176
9,857
20,654
- -
Working Capital
12,595
12,182
10,951
13,389
10,365
8,790
7,905
27,926
39,725
33,747
24,300
11,600
5,123
1,209
1,074
1,036
- -
LT Debt
15,638
20,780
25,611
30,871
35,087
36,276
39,864
57,606
32,839
43,060
64,047
84,586
105,174
126,883
143,826
155,552
- -
Total Equity
18.31
17.46
15.37
13.33
9.83
9.45
8.94
11.97
11.87
15.72
26.69
22.08
20.37
19.1
14.96
9.76
- -
Return on Invested Capital (%)
31.9
27.84
18.9
15.81
11.44
12.42
11.14
13.55
6.71
9.39
12.35
9.03
8.17
6.59
7.06
3.43
14.85
Return on Capital (%)
145.81
65.5
28.5
22.52
14.86
15.91
13.96
18.44
15.7
17.8
25.29
19.18
16.56
14.38
12.89
7.95
- -
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'26
Sep'26
Dec'26
ST Debt
- -
344
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
1,053
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
564
- -
Market Capitalization
186,155
174,853
172,999

Working Capital

FRC

•

in mil. unless spec.
Jun'26
Sep'26
Dec'26
Total Current Assets
- -
63,653
- -
Cash, Cash Equivalents & STI
- -
48,200
- -
Accounts Receivable, Net
- -
10,279
- -
Inventories
- -
3,215
- -
Total Current Liabilities
- -
42,356
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
344
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
18.98%
19.71%
8.15%
Free Cash Flow
26.9%
0.13%
13.87%
Net Income, GAAP
12.43%
-7.37%
-33.05%
Sales/Revenue/Turnover
61.58%
9.25%
0.4%
Total Cash Common Dividend
29.27%
35.08%
-6.41%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
41,083
42,652
43,891
44,448
172,075
2025
47,270
39,921
43,605
41,960
172,756
2026
41,069
40,079
38,850
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
5.94
8.06
7
- -
29.41
2025
6.65
4.99
4.15
- -
19.69
2026
5.56
4.62
4.55
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
8.71
2025
- -
- -
- -
- -
8.16
2026
- -
- -
- -
- -
- -
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Business
Gujarat State Petronet Limited Gujarat State Petronet Limited (GSPL.NS), a subsidiary of Gujarat State Petroleum Corporation Limited holding a 37.63% stake, owns and operates a natural gas transmission pipeline network spanning approximately 2,692-2,704 kilometers across Gujarat, India; the company transports natural gas on an open access basis from major supply sources—including Hazira gas fields, Shell's Hazira RLNG terminal, Petronet LNG's Dahej terminal, GSPC LNG's Mundra terminal, Swan LNG's FSRU Phase-1, and Chhara LNG terminal—to demand centers serving refineries, steel plants, fertilizer plants, petrochemical plants, power plants, glass industries, textiles, chemicals, city gas distribution companies, and other industrial customers. GSPL, founded in 1998 and headquartered at GSPC Bhavan in Gandhinagar, Gujarat, also engages in city gas distribution implementation and operations, electricity generation through 52.50-megawatt windmills, and natural gas trading. In November 2025, GSPL's board approved a ₹43.57 crore investment in its 52%-owned joint venture GSPL India Gasnet Limited (GIGL)—with partners Indian Oil Corporation Limited (26%), Bharat Petroleum Corporation Limited (11%), and Hindustan Petroleum Corporation Limited (11%)—comprising ₹35.77 crore in redeemable cumulative preference shares and up to ₹7.80 crore in additional equity to support GIGL's Mehsana-Bhatinda and Bhatinda-Gurdaspur cross-country pipeline projects, alongside ₹18 crore interim financial assistance at 7% interest; this follows ongoing composite amalgamation discussions involving GSPC, GSPL, GSPC Energy Limited, and Gujarat Gas Limited, with a court-convened shareholder meeting held in October 2025.