---
title: "Gujarat Gas (GUJENERGY) Share Price, Financials & Research"
symbol: "GUJENERGY"
company: "Gujarat Gas Ltd"
canonical: "https://tapetide.com/stocks/GUJENERGY"
isin: "INE844O01030"
nse_symbol: "GUJENERGY"
bse_code: "539336"
sector: "Oil & Gas"
industry: "Gas Supplier"
generated_at: "2026-11-05T02:20:42.286Z"
---

# Gujarat Gas (GUJENERGY)

Canonical page: https://tapetide.com/stocks/GUJENERGY

## Key Facts

- **Price:** ₹221.19 as of 4 Nov 2026, 15:57 IST
- **P/E (TTM):** 14.84 as of 4 Nov 2026
- **1-year price change:** -45.68% from 4 Nov 2025 to 4 Nov 2026, adjusted for splits and bonuses, dividends excluded
- **Revenue, Mar 2026 quarter:** ₹5,791.9 Cr, against ₹4,102.0 Cr in Mar 2025 (+41.20% year on year)
- **Net profit, Mar 2026 quarter:** ₹151.8 Cr, against ₹287.9 Cr in Mar 2025 (-47.27% year on year)
- **Promoter holding:** 38.94% in Sep 2026, unchanged from Jun 2026
- **Tapetide Score:** 58/100, Good band as of 4 Nov 2026

## Company

- **NSE symbol:** GUJENERGY
- **BSE code:** 539336
- **ISIN:** INE844O01030
- **Macro sector:** Energy
- **Sector:** Oil & Gas
- **Industry:** Gas Supplier
- **Basic industry:** LPG/CNG/PNG/LNG Supplier
- **In the F&O segment:** No

## Latest Price

- **Price:** ₹221.19
- **Change:** +1.81 (+0.83%)
- **Open:** ₹220.00
- **Day High:** ₹222.73
- **Day Low:** ₹218.10
- **Previous Close:** ₹219.38
- **Volume:** 15,38,696
- **As of:** 4 Nov 2026, 15:57 IST

## Key Fundamentals

Price-based figures as of 4 Nov 2026, 15:57 IST · EPS basis: Consolidated · TTM.

- **ROCE:** 18.50%
- **Debt to Equity:** 0.18
- **EPS (TTM):** ₹14.91
- **Book Value:** ₹196.53
- **P/E (TTM):** 14.84
- **P/B:** 1.13
- **ROE:** 13.20%
- **Dividend Yield:** 4.06%
- **EBITDA:** ₹3,600 Cr
- **52W High:** ₹443.75
- **52W Low:** ₹206.33

## Tapetide Score

Data-driven rating, 0–100, as of 4 Nov 2026.

- **Score:** 58/100 (Good)
- **Data confidence:** 100/100

### Category scores

| Category | Score | Band | Weight | Measures |
| --- | ---: | --- | ---: | --- |
| Quality | 73 | Strong | 22% | Returns, margins, earnings quality |
| Valuation | 68 | Strong | 24% | Cheap vs sector & own history |
| Growth | 92 | Strong | 9% | Sales & profit trajectory |
| Financial Health | 61 | Good | 9% | Solvency, leverage, coverage |
| Momentum | 8 | Poor | 12% | Trend strength, vol-adjusted |
| Ownership | 50 | Average | 24% | FII/DII/promoter flows |

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

## Key Insights

### Strengths

- Company has been maintaining a healthy dividend payout of 28.5%

### Weaknesses

- Promoter holding has decreased over last quarter: -22.0%
- Company has a low return on equity of 14.0% over last 3 years.

## Technical Indicators

As of 4 Nov 2026.

| Group | Signal | Bearish | Neutral | Bullish |
| --- | --- | ---: | ---: | ---: |
| Overall | Bearish | 8 | 5 | 6 |
| Oscillators | Neutral | 2 | 5 | 2 |
| Moving Averages | Strong Bearish | 6 | 0 | 4 |

### Oscillators: Neutral

| Name | Value | Signal |
| --- | ---: | --- |
| RSI (14) | 46.78 | Neutral |
| MACD (12,26,9) | -5.96 | Bullish |
| Stochastic (14,3,3) | 52.98 | Neutral |
| ADX (14) | 40.93 | Bullish |
| Williams %R (14) | -35.45 | Neutral |
| ATR (14) | 6.48 | Neutral |
| ROC (12) | -0.64 | Bearish |
| Stoch RSI (14) | 100.00 | Bearish |
| UO (7,14,28) | 42.83 | Neutral |

### Moving Averages: Strong Bearish

| Name | Value | Signal |
| --- | ---: | --- |
| SMA (10) | 214.72 | Bullish |
| EMA (10) | 216.75 | Bullish |
| SMA (20) | 218.82 | Bullish |
| EMA (20) | 220.31 | Bullish |
| SMA (50) | 235.43 | Bearish |
| EMA (50) | 236.67 | Bearish |
| SMA (100) | 268.33 | Bearish |
| EMA (100) | 265.84 | Bearish |
| SMA (200) | 325.67 | Bearish |
| EMA (200) | 309.69 | Bearish |

### Pivot Points

| Level | Classic | Fibonacci | Camarilla |
| --- | ---: | ---: | ---: |
| R3 | 227.87 | 225.30 | 222.46 |
| R2 | 225.30 | 223.53 | 222.04 |
| R1 | 223.24 | 222.44 | 221.61 |
| PP | 220.67 | 220.67 | 220.67 |
| S1 | 218.61 | 218.90 | 220.77 |
| S2 | 216.04 | 217.81 | 220.34 |
| S3 | 213.98 | 216.04 | 219.92 |

## Analyst Rating

Based on 26 analysts. 12 of 26 analysts rate Buy, 10 Hold, 4 Sell. As of 4 Nov 2026.

| Rating | Analysts | Share |
| --- | ---: | ---: |
| Buy | 12 | 46% |
| Hold | 10 | 38% |
| Sell | 4 | 15% |

## Growth Rate

Growth computed from the financial statements below. A window with no rate gives the reason instead of a figure.

| Metric | Window | Growth | What it compares |
| --- | --- | ---: | --- |
| Revenue | 10Y | 14.48% | compounded annual rate, Mar 2016 to Mar 2026 |
| Revenue | 5Y | 19.07% | compounded annual rate, Mar 2021 to Mar 2026 |
| Revenue | 3Y | 12.11% | compounded annual rate, Mar 2023 to Mar 2026 |
| Revenue | 1Y | 43.23% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Net profit | 10Y | 24.34% | compounded annual rate, Mar 2016 to Mar 2026 |
| Net profit | 5Y | 5.73% | compounded annual rate, Mar 2021 to Mar 2026 |
| Net profit | 3Y | 3.17% | compounded annual rate, Mar 2023 to Mar 2026 |
| Net profit | 1Y | 46.17% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating cash flow | 10Y | 15.63% | compounded annual rate, Mar 2016 to Mar 2026 |
| Operating cash flow | 5Y | 10.4% | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating cash flow | 3Y | 4.64% | compounded annual rate, Mar 2023 to Mar 2026 |
| Operating cash flow | 1Y | 50.66% | fiscal year to Mar 2026 vs the year to Mar 2025 |
| Operating margin | 10Y | +0.82 pp | compounded annual rate, Mar 2016 to Mar 2026 |
| Operating margin | 5Y | -8.42 pp | compounded annual rate, Mar 2021 to Mar 2026 |
| Operating margin | 3Y | -1.53 pp | compounded annual rate, Mar 2023 to Mar 2026 |
| Operating margin | 1Y | +1.35 pp | fiscal year to Mar 2026 vs the year to Mar 2025 |

Trailing twelve months: The last four quarters end with the latest fiscal year, which the 1Y column covers.

## Analyst Forecasts

Consensus of analyst estimates, as of 4 Nov 2026. Low and High are the range of the estimates, not a confidence interval.

### EBITDA (quarterly)

Sep 2026 consensus: ₹1,186 Cr (-25.9% vs ₹1,601 Cr in Jun 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Sep 2026 | ₹1,186 Cr | ₹943 Cr | ₹1,428 Cr |
| Dec 2026 | ₹683 Cr | ₹683 Cr | ₹683 Cr |
| Mar 2027 | ₹660 Cr | ₹660 Cr | ₹660 Cr |

### EPS (quarterly)

Sep 2026 consensus: ₹8.58 (-19.6% vs ₹10.67 in Jun 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Sep 2026 | ₹8.58 | ₹7.40 | ₹9.75 |
| Dec 2026 | ₹6.06 | ₹5.40 | ₹6.71 |
| Mar 2027 | ₹2.78 | ₹0.36 | ₹5.20 |

### Net Income (quarterly)

Sep 2026 consensus: ₹872 Cr (-13.4% vs ₹1,007 Cr in Jun 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Sep 2026 | ₹872 Cr | ₹699 Cr | ₹1,046 Cr |
| Dec 2026 | ₹507 Cr | ₹507 Cr | ₹507 Cr |
| Mar 2027 | ₹489 Cr | ₹489 Cr | ₹489 Cr |

### Price (quarterly)

Mar 2027 consensus: ₹359.23 (+51.2% vs ₹237.58 in Sep 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Mar 2027 | ₹359.23 | ₹246.00 | ₹530.00 |

### Revenue (quarterly)

Sep 2026 consensus: ₹11,216 Cr (+14.9% vs ₹9,765 Cr in Jun 2026).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| Sep 2026 | ₹11,216 Cr | ₹10,474 Cr | ₹11,958 Cr |
| Dec 2026 | ₹10,596 Cr | ₹10,596 Cr | ₹10,596 Cr |
| Mar 2027 | ₹10,211 Cr | ₹10,211 Cr | ₹10,211 Cr |

### ROA (annual)

FY27 consensus: 8.7% (+1.2 pp vs 7.6% in FY26).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| FY27 | 8.7% | 7.6% | 10.0% |
| FY28 | 9.4% | 7.6% | 10.5% |

### ROE (annual)

FY27 consensus: 11.9% (+3.0 pp vs 8.9% in FY26).

| Period | Mean | Low | High |
| --- | ---: | ---: | ---: |
| FY27 | 11.9% | 10.9% | 13.8% |
| FY28 | 12.1% | 9.7% | 15.5% |

## AI Analysis — Bull vs Bear

AI-generated opinion, based on fundamentals. Figures as of 2 Nov 2026. Not investment advice, and not a recommendation to buy, sell or hold. Statements that rate the stock or set a price target are left out of this copy.

- **Risk (AI assessment):** High

Gujarat Gas Ltd trades at ₹215.01 as of 2026-11-02 with a market cap of ₹20,663 Cr, sitting near its 52-week low of ₹206.33 after a 29% decline over the past year. The company shows a sharp TTM revenue growth of 43% and TTM profit growth of 54%, but longer-term stock returns have been negative, with a 5-year stock CAGR of -13%.

### Bull Case

- TTM profit growth of 54% signals a strong earnings recovery, significantly outpacing the 3-year compounded profit growth of 5%
- TTM sales growth of 43% indicates robust top-line momentum, well above the 3-year compounded sales growth of 12%
- Dividend yield of 4.28% is attractive and well above typical large-cap averages, supported by a healthy payout ratio of 28.5%
- Debt-to-equity ratio of just 0.18 reflects a conservatively leveraged balance sheet with limited solvency risk
- PE ratio of 14.42x on a TTM basis appears undemanding given the 10-year compounded profit growth of 24%
- 10-year compounded sales growth of 14% and profit growth of 24% demonstrate a long track record of scaling the business
- ROCE of 12.17% indicates the company generates reasonable returns on total capital employed

### Bear Case

- Stock has declined 29% over the past 1 year and trades just above its 52-week low of ₹206.33, reflecting persistent negative sentiment
- Promoter holding decreased by 22.0% over the last quarter, a significant reduction that may signal weakening promoter confidence
- 5-year stock CAGR of -13% and 3-year stock CAGR of -10% show prolonged wealth destruction for shareholders despite business growth
- ROE of 8.9% is modest, and the 3-year average ROE of 14% is considered low, suggesting the company is not efficiently converting equity into profits
- 3-year compounded profit growth of only 5% indicates earnings stagnated before the recent TTM recovery, raising questions about sustainability
- The stock is down roughly 52% from its 52-week high of ₹443.75, indicating a severe de-rating that may reflect structural concerns beyond cyclical weakness
- 10-year ROE has trended down from 20% to 13% last year, suggesting a gradual decline in return efficiency over time
- As a city gas distribution business in the oil and gas sector, the company remains exposed to regulatory changes in gas pricing and allocation policies

This is AI-generated analysis, not financial advice. Do your own due diligence.

## AI News Digest

AI-generated summary of recent news, generated 4 Nov 2026. Not investment advice, and not a recommendation to buy, sell or hold. Statements that rate the stock or set a price target are left out of this copy.

**TL;DR:** Gujarat Energy is demonstrating strong cash flow with a record ₹324 crore dividend for FY26, signalling healthy post-merger financial health. The promoter reclassification is a housekeeping move with no direct operational impact. No headwinds are visible in the latest news cycle. The trend appears stable, with the post-merger structure beginning to unlock shareholder returns.

### Positives

- **Record ₹324 Cr dividend payout** (Oct 14): Gujarat Energy Limited paid a record ₹324 crore dividend to the Government of Gujarat for FY26, reflecting strong cash generation driven by post-merger structural changes.

### Neutral

- **Promoter reclassification approved** (Oct 14): NSE and BSE issued no-objection letters to reclassify Gujarat State Energy Generation Limited from Promoter to Public Shareholder category, a structural shareholding change with no immediate financial impact.

## Financial Statements

### Quarterly Results

Results for the period ended Jun 2026 were due by 14 Aug 2026 and are not in this table yet.

Figures in ₹ crore unless the row name gives another unit.

| Item | 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 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 3,929 | 3,782 | 3,845 | 3,929 | 4,134 | 4,450 | 3,782 | 4,153 | 4,102 | 3,871 | 3,780 | 3,658 | 5,792 |
| Expenses | 3,368 | 3,394 | 3,349 | 3,528 | 3,543 | 3,915 | 3,268 | 3,772 | 3,652 | 3,351 | 3,333 | 3,211 | 5,183 |
| Operating Profit | 560 | 388 | 497 | 401 | 591 | 536 | 514 | 380 | 450 | 520 | 447 | 447 | 609 |
| OPM % | 14% | 10% | 13% | 10% | 14% | 12% | 14% | 9% | 11% | 13% | 12% | 12% | 11% |
| Other Income | 31.79 | 23.85 | 28 | 23.02 | 88 | 39 | 38.55 | 56.84 | 74.35 | 60 | 72 | 56 | 34 |
| Interest | 6 | 7 | 8 | 7 | 7 | 8 | 8 | 9 | 7 | 8 | 8 | 9 | 46 |
| Depreciation | 109 | 115 | 118 | 120 | 121 | 123 | 130 | 129 | 129 | 131 | 134 | 135 | 224 |
| Profit before tax | 477 | 289 | 399 | 296 | 550 | 444 | 415 | 299 | 388 | 441 | 377 | 359 | 374 |
| Tax % | 22% | 26% | 26% | 26% | 25% | 26% | 26% | 26% | 26% | 26% | 26% | 26% | 59% |
| Net Profit | 370 | 216 | 296 | 221 | 410 | 331 | 309 | 221 | 288 | 328 | 280 | 267 | 152 |
| EPS in Rs | 5.38 | 3.14 | 4.3 | 3.21 | 5.96 | 4.8 | 4.48 | 3.21 | 4.18 | 4.76 | 4.06 | 3.88 | 2.21 |

### Profit & Loss

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Sales | 9,006 | 6,106 | 5,093 | 6,174 | 7,754 | 10,300 | 9,866 | 16,456 | 16,759 | 15,690 | 16,487 | 23,614 |
| Expenses | 7,894 | 5,367 | 4,331 | 5,261 | 6,758 | 8,652 | 7,761 | 14,354 | 14,338 | 13,787 | 14,579 | 20,562 |
| Operating Profit | 1,112 | 739 | 762 | 913 | 997 | 1,649 | 2,105 | 2,103 | 2,422 | 1,904 | 1,908 | 3,052 |
| OPM % | 12% | 12% | 15% | 15% | 13% | 16% | 21% | 13% | 14% | 12% | 12% | 13% |
| Other Income | 101 | 12 | 18 | 29 | 95 | 82 | 70 | 79 | 101 | 161 | 204 | 539 |
| Interest | 334 | 250 | 218 | 206 | 208 | 205 | 134 | 82 | 67 | 54 | 52 | 251 |
| Depreciation | 238 | 245 | 257 | 272 | 288 | 318 | 344 | 385 | 428 | 474 | 511 | 899 |
| Profit before tax | 641 | 256 | 305 | 464 | 596 | 1,208 | 1,698 | 1,715 | 2,028 | 1,537 | 1,549 | 2,441 |
| Tax % | 31% | 26% | 28% | 37% | 30% | 1% | 25% | 25% | 25% | 26% | 26% | 31% |
| Net Profit | 447 | 190 | 221 | 292 | 418 | 1,199 | 1,270 | 1,287 | 1,528 | 1,144 | 1,148 | 1,678 |
| EPS in Rs | 0.99 | 2.76 | 3.2 | 4.25 | 6.08 | 17.41 | 18.45 | 18.7 | 22.2 | 16.61 | 16.68 | 24.37 |
| Dividend Payout % | 15% | 18% | 19% | 19% | 16% | 7% | 11% | 11% | 30% | 34% | 35% | 17% |

### Balance Sheet

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Equity Capital | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 187 |
| Reserves | 1,872 | 1,386 | 1,526 | 1,729 | 2,068 | 3,180 | 4,340 | 5,492 | 6,890 | 7,585 | 8,352 | 18,251 |
| Borrowings | 3,226 | 2,357 | 2,359 | 2,328 | 2,213 | 2,055 | 983 | 629 | 152 | 150 | 150 | 3,243 |
| Other Liabilities | 1,679 | 2,189 | 2,353 | 2,467 | 2,739 | 2,553 | 3,079 | 3,329 | 3,747 | 3,819 | 4,011 | 5,864 |
| Total Liabilities | 6,915 | 6,069 | 6,375 | 6,662 | 7,158 | 7,925 | 8,539 | 9,587 | 10,927 | 11,692 | 12,651 | 27,546 |
| Fixed Assets | 4,487 | 4,673 | 4,903 | 5,094 | 5,290 | 5,585 | 6,040 | 6,631 | 7,338 | 7,763 | 8,208 | 13,651 |
| CWIP | 357 | 468 | 506 | 478 | 489 | 569 | 731 | 992 | 983 | 918 | 839 | 836 |
| Investments | 1,118 | 144 | 92 | 41 | 42 | 43 | 48 | 52 | 63 | 168 | 172 | 1,010 |
| Other Assets | 953 | 784 | 875 | 1,049 | 1,337 | 1,728 | 1,719 | 1,912 | 2,544 | 2,842 | 3,433 | 12,049 |
| Total Assets | 6,915 | 6,069 | 6,375 | 6,662 | 7,158 | 7,925 | 8,539 | 9,587 | 10,927 | 11,692 | 12,651 | 27,546 |

### Cash Flow

Figures in ₹ crore unless the row name gives another unit.

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Cash from Operating Activity | 1,094 | 637 | 701 | 785 | 964 | 1,420 | 1,659 | 1,662 | 2,375 | 1,634 | 1,806 | 2,721 |
| Cash from Investing Activity | -365 | 375 | -458 | -430 | -612 | -466 | -614 | -1,294 | -1,039 | -879 | -1,921 | -2,097 |
| Cash from Financing Activity | -563 | -1,224 | -251 | -273 | -349 | -502 | -1,318 | -628 | -678 | -514 | -474 | -417 |
| Net Cash Flow | 166 | -212 | -9 | 82 | 3 | 451 | -273 | -260 | 658 | 241 | -589 | 206 |
| Free Cash Flow | 741 | 79 | 220 | 330 | 434 | 824 | 903 | 295 | 1,289 | 797 | 1,055 | 1,768 |
| CFO/OP | 112 | 94 | 98 | 97 | 97 | 103 | 99 | 100 | 117 | 103 | 111 | 100 |

### Ratios

| Item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Debtor Days | 15 | 18 | 25 | 23 | 24 | 18 | 29 | 21 | 22 | 24 | 23 | 27 |
| Inventory Days | 2 | 3 | 4 | 4 | 4 | 2 | 3 | — | — | — | — | 22 |
| Days Payable | 21 | 19 | 30 | 23 | 21 | 16 | 23 | — | — | — | — | 32 |
| Cash Conversion Cycle | -4 | 2 | -1 | 4 | 7 | 4 | 8 | 21 | 22 | 24 | 23 | 17 |
| Working Capital Days | -81 | -85 | -67 | -55 | -45 | -38 | -48 | -25 | -33 | -35 | -8 | 53 |
| ROCE % | — | 12% | 13% | 17% | 19% | 29% | 34% | 31% | 31% | 20% | 20% | 18% |

## Shareholding Pattern

### Quarterly Shareholding

Holdings in % of shares; shareholders as a count.

| Holder | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 | Mar 2022 | 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 | Jun 2026 | Sep 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Promoters | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 60.89% | 38.94% | 38.94% |
| FIIs | 8.64% | 8.17% | 7.86% | 7.72% | 5.98% | 5.18% | 5.03% | 5.17% | 4.67% | 4.47% | 3.80% | 3.34% | 3.72% | 4.31% | 4.51% | 4.53% | 3.97% | 3.86% | 3.70% | 3.82% | 3.97% | 10.85% | 11.94% |
| DIIs | 7.38% | 7.90% | 8.07% | 8.03% | 9.53% | 10.01% | 13.03% | 12.55% | 13.28% | 13.28% | 13.09% | 13.99% | 15.05% | 14.76% | 14.37% | 14.21% | 14.81% | 14.99% | 14.97% | 15.06% | 14.76% | 24.23% | 21.34% |
| Government | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 7.08% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.01% | 7.23% | 7.23% |
| Public | 5.48% | 23.04% | 23.18% | 23.36% | 5.87% | 23.91% | 13.96% | 14.38% | 5.58% | 14.35% | 6.51% | 6.26% | 4.93% | 4.79% | 4.79% | 5.00% | 5.03% | 4.92% | 5.02% | 4.87% | 5.00% | 6.80% | 8.47% |
| Others | 17.61% | n/m | n/m | n/m | 17.72% | n/m | n/m | n/m | 8.57% | n/m | 8.77% | 8.53% | 8.41% | 8.24% | 8.43% | 8.37% | 8.28% | 8.33% | 8.41% | 8.35% | 8.36% | 11.94% | 12.08% |
| No. of Shareholders | 87,044 | 1,09,810 | 1,65,723 | 1,81,316 | 1,86,495 | 1,96,557 | 1,91,278 | 1,85,090 | 1,80,747 | 1,84,281 | 2,11,378 | 2,13,432 | 1,78,664 | 1,74,549 | 1,72,026 | 1,78,067 | 1,80,178 | 1,71,466 | 1,69,570 | 1,66,450 | 1,73,919 | 3,27,344 | 3,49,418 |

n/m: Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

## Documents

### Concalls

Latest 12 of 15.

| Month | Call documents |
| --- | --- |
| Jun 2026 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c76a4ba6-459b-4b62-8479-35e78608d54c.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4da90ad5-4d36-4e74-a935-fd07d6aea46c.pdf), [Recording](https://gujarat-energy.com/audio-video/audio-recording-post-results-earnings-conference-call-q4-fy-25-26-01062026.mp3) |
| Jan 2026 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7aa31b89-d145-4898-9dc7-d555dbe41cee.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d9e73581-e153-4409-84ea-4c1523df2f76.pdf), [Recording](https://youtu.be/fDpaMF95RLo) |
| Nov 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fd228f8a-3f32-4a90-bb4c-c5ab5031f22d.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4595b5c0-dede-480a-afcf-94b47c258260.pdf) |
| Aug 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0ebfe992-d94e-48f1-bd74-2525d856f022.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e0d79f0d-3001-4606-8857-0b12ef7d70e4.pdf) |
| May 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=af350c83-a49a-4ff6-b0ed-1a56b8fedf9e.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=3b7378b4-de5d-4451-aefa-083e5734a3fb.pdf) |
| Feb 2025 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c742ad64-d939-4179-8171-a32711b2be07.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=e87069a9-f37a-4d3d-bf28-f7913d36466c.pdf), [Recording](https://youtu.be/OU2zIZcyNpk) |
| Nov 2024 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=7401fdfb-0970-4594-813f-c2781c741919.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d9c95123-fb24-42ec-8d60-6c51204f9002.pdf), [Recording](https://www.gujaratgas.com/audio-video/audio-recording-post-results-earnings-conference-call-q2-fy24-25-07-11-2024.mp3) |
| Sep 2024 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=9375bbe3-7823-4559-ad67-5a5892d21def.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=832d7b4e-9340-4b74-b2e1-978823714cfb.pdf) |
| Aug 2024 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=11d27498-68b9-48c8-a0ef-eb502a3feac5.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0d2b812e-c934-4724-a41f-d653398a0366.pdf) |
| May 2024 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ade4ffef-45cc-47dc-8bba-cb88aefe7cb3.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=45b7d8ea-2713-4e08-9de7-520a14ec1186.pdf), [Recording](https://www.gujaratgas.com/audio-video/post-earnings-call-q4-2024-fy-2024-audio-recording-08-05-2024.mp3) |
| Feb 2024 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fcf27dd2-c1ef-4b29-b32b-c2632c5630b2.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bb1e24fd-2c28-4064-80b9-e2f34f408aee.pdf), [Recording](https://www.gujaratgas.com/audio-video/GJT0220240215151606.mp3) |
| Nov 2023 | [Transcript](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=568fa7ab-3cbd-41c4-a2ca-615e0eeeda2e.pdf), [PPT](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=449441ea-e24a-4ed5-b9ac-1801e15065a2.pdf) |

### Results

Latest 12 of 28.

| Date | Document |
| --- | --- |
| 11 Aug 2026 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=585f1503-af0d-49f1-b76e-527313aea8bd.pdf) |
| 30 May 2026 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=38a81550-8be3-4cd8-a35a-f4bf2256ec9a.pdf) |
| 20 Jan 2026 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=eb3188e8-17cd-4827-93b1-375819473051.pdf) |
| 10 Nov 2025 | [Outcome Of Board Meeting - Announcement Of Unaudited (Standalone & Consolidated) Financial Results For The Quarter And Half Year Ended 30Th September 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=59d74452-9552-48a7-825f-066e9f689ffb.pdf) |
| 5 Aug 2025 | [Outcome Of Board Meeting Financial Results Q1 FY 25-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=a4ef7e9a-174a-487a-a9ea-226b83a92dc6.pdf) |
| 19 May 2025 | [Outcome Of Board Meeting - Audited Financial Results (Standalone & Consolidated) - 31.03.2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=89b23522-b91f-408b-baa2-be432c16cfc8.pdf) |
| 5 Feb 2025 | [Outcome Of Board Meeting](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=186d4c62-7f9f-4692-b297-c9af10432241.pdf) |
| 6 Nov 2024 | [Outcome Of Board Meeting - Unaudited (Standalone & Consoldiated) Financial Results For The Qtr And Half Year Ended 30.09.2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=dce32219-a937-4d1b-8363-bf94b4c332fb.pdf) |
| 6 Aug 2024 | [Un-Audited Financial Results Of Gujarat Gas Limited For The Quarter Ended 30Th June, 2024.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=29bae4ac-7eda-448e-a1d5-d8a024263415.pdf) |
| 6 May 2024 | [Financial Results 31/03/2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aaa39f09-e0f4-4d01-a60b-7396748c0532.pdf) |
| 13 Feb 2024 | [Results For Quarter And Nine Months Ended 31/12/2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=fbdaa088-9d22-4a2b-a5ce-313bb1745a17.pdf) |
| 2 Nov 2023 | [Results For Quarter Ended On 30/09/2023](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=39fc49ac-5a8e-454d-b7b1-cd8b7001fd06.pdf) |

### Annual reports

| Year | Report |
| --- | --- |
| FY2025 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6afea283-295e-466f-90c3-e4a889830f86.pdf) |
| FY2024 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=993867f7-11e8-4307-9616-c59995c5fc82.pdf) |
| FY2023 | [Annual report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0e7e351a-b2ec-4d50-a99d-874cb0f8324a.pdf) |
| FY2022 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/74110539336.pdf) |
| FY2021 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/71296539336.pdf) |
| FY2020 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/65521539336.pdf) |
| FY2019 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/5393360319.pdf) |
| FY2018 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/5393360318.pdf) |
| FY2017 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/5393360317.pdf) |
| FY2016 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/5393360316.pdf) |
| FY2015 | [Annual report](https://www.bseindia.com/bseplus/AnnualReport/539336/5393360315.pdf) |

### Credit ratings

| Date | Document |
| --- | --- |
| 9 Jun 2026 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/GujaratEnergyLimited_June%2009_%202026_RR_397941.html) |
| 9 Mar 2026 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/GujaratGasLimited_March%2009_%202026_RR_388061.html) |
| 26 Nov 2025 | [Credit rating update — India Ratings](https://www.indiaratings.co.in/pressrelease/80227) |
| 29 Sep 2025 | [Credit rating update — CARE Ratings](https://www.careratings.com/upload/CompanyFiles/PR/202509140908_Gujarat_Gas_Limited.pdf) |
| 9 Dec 2024 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/GujaratGasLimited_December%2009_%202024_RR_358655.html) |
| 10 Sep 2024 | [Credit rating update — CRISIL](https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/GujaratGasLimited_September%2010_%202024_RR_352309.html) |
| 9 Sep 2024 | [Credit rating update — CARE Ratings](https://www.careratings.com/upload/CompanyFiles/PR/202409140950_Gujarat_Gas_Limited.pdf) |

### Exchange filings

Latest 12 of 127.

| Date | Document | Category |
| --- | --- | --- |
| 1 Nov 2026 | [Appointment Of Investors Relations (IR) & Public Relations (PR) Agency For Gujarat Energy Limited](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=251ce0ff-082f-4057-a70a-3e2ad622cbe1.pdf) | General announcements |
| 28 Oct 2026 | [Announcement under Regulation 30 (LODR)-Cessation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c16c35ca-0d0c-4916-97a2-845bff39677e.pdf) | General announcements |
| 27 Oct 2026 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c8757a82-1c0d-473a-bf59-e9e79da486f5.pdf) | General announcements |
| 14 Oct 2026 | [Announcement under Regulation 31A (LODR)-(8)(d) Exchange decision](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f83a25aa-5bf1-4515-b3a4-a2c89f160f01.pdf) | General announcements |
| 14 Oct 2026 | [Announcement under Regulation 30 (LODR)-Press Release / Media Release](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4fc264d4-1770-4544-b253-a3a33f5306b5.pdf) | General announcements |
| 9 Oct 2026 | [Announcement under Regulation 30 (LODR)-Credit Rating](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=022795dd-2933-407a-bffc-25be7a36a5fd.pdf) | General announcements |
| 8 Oct 2026 | [Disclosures under Reg. 29(2) of SEBI (SAST) Regulations 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=66E3FE9B_2127_47C1_A3A3_7B312740B189_092809.pdf) | General |
| 7 Oct 2026 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=f96b2f4d-b7a5-4dc0-8a30-9fc7eeba11d3.pdf) | General announcements |
| 7 Oct 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=ef5a774a-f674-417d-8ad2-e58f16a2b26d.pdf) | General announcements |
| 1 Oct 2026 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=06736284-ce33-49d1-b73e-4e5f1307119c.pdf) | Outcome |
| 1 Oct 2026 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aaff828c-d707-47e4-8757-4f55c6f4d185.pdf) | Outcome |
| 29 Sep 2026 | [Update On Scheme Of Arrangement - Intimation For Receipt Of Final Listing And Trading Approval By GSPL Transmission Limited Resulting Company.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=631d60c6-c4aa-402a-bfa8-dc5aa9f0ac6b.pdf) | General announcements |

## Frequently Asked Questions about Gujarat Gas

### What does Gujarat Gas Ltd do?

Gujarat Gas Limited (GGL) is a government company u/s 2(45) of Companies Act 2013. Formerly Known as GSPC Distribution Networks Limited(GDNL), GGL is engaged in the business of Natural gas in India.

### Where is Gujarat Gas Ltd (GUJENERGY) listed?

Gujarat Gas Ltd trades as GUJENERGY on the NSE and under code 539336 on the BSE.

### Which sector does Gujarat Gas Ltd belong to?

Gujarat Gas Ltd is classified under the Oil & Gas sector, in the Gas Supplier industry.

### What is the PE ratio of Gujarat Gas Ltd?

Gujarat Gas Ltd trades at a PE ratio of 14.84 as of 4 Nov 2026, on earnings per share of ₹14.91, against a book value of ₹196.53 per share.

### What is the 52-week high and low of Gujarat Gas Ltd?

Over the last 52 weeks Gujarat Gas Ltd has traded between ₹206.33 and ₹443.75 as of 4 Nov 2026.

### Does Gujarat Gas Ltd pay dividends?

Gujarat Gas Ltd has a dividend yield of 4.06%.

### What is the Return on Equity (ROE) of Gujarat Gas Ltd?

Gujarat Gas Ltd reported a return on equity of 13.20%. Its debt-to-equity ratio is 0.18.

## Company Information

Gujarat Gas Limited (GGL) is a government company u/s 2(45) of Companies Act 2013. Formerly Known as GSPC Distribution Networks Limited(GDNL), GGL is engaged in the business of Natural gas in India. The business of natural gas involves distribution of gas from sources of supply to centres of demand and to end customers. GGL caters to its customers by providing CNG and PNG connections in domestic, Industrial, Commercial and Non commercial segments in the areas of South & Central Gujarat and Saurashtra.

- **Website:** https://gujaratgas.com/
- **CEO:** Mr. Sandeep Dave
- **Employees:** 895
- **Listed:** 15 Sep 2015
- **Face Value:** ₹2

---

Negative figures use an ASCII hyphen-minus (-) so they parse as numbers. Amounts are in Indian rupees; "Cr" is crore (10 million). Dates are Indian Standard Time.

Financial statements, shareholding and filings are as reported by the company. Price, volume and 52-week levels are market data. Technical indicators are computed by Tapetide from daily prices. The Tapetide Score is Tapetide’s own analysis. Analyst ratings and forecasts are the published estimates of third-party analysts, not company statements. The AI sections are generated text.

For research and information only, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Generated 5 Nov 2026, 07:50 IST.