Gujarat Gas Ltd logo

Gujarat Gas Ltd

GUJENERGY NSE

Key Fundamentals

SmallcapGas SupplierOil & Gas
Market Cap
₹24,356 Cr
Volatility
Moderate
P/E Ratio
17.03
EBITDA
₹2,902 Cr
Return on Equity
13.53%
Debt to Equity
0.18
Book Value
₹196.53
52W High
₹452
52W Low
₹255.2

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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37 extracted metrics + investor summaries across FY15–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 28.5%

Weaknesses

2
  • Promoter holding has decreased over last quarter: -22.0%
  • Company has a low return on equity of 14.0% over last 3 years.

Growth Rate

Revenue Growth
41.44% ↘
Net Income Growth
112.70% ↘
Cash Flow Change
10.52% ↗
ROE
-8.64% ↘
ROCE
-7.48% ↘
EBITDA Margin (Avg.)
-4.56% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 6d ago
AI opinion · based on fundamentals
Risk medium

Gujarat Energy Ltd (formerly Gujarat Gas Ltd) is India's largest city gas distribution company by volume, operating across 44 districts in 6 states with ~8.37 mmscmd gas distribution. The stock trades at a PE of 14.8x with a market cap of ₹25,799 Cr, and while TTM sales grew 43% and profit grew 54%, the stock has declined 29% over the past year and promoter holding dropped 22% in the last quarter following the GSPC group merger.

Bull Case 8
  • Strong TTM revenue growth of 43% indicating robust demand recovery and gas trading expansion
  • TTM profit growth of 54% demonstrates significant operating leverage and margin improvement
  • Attractive valuation at PE of 14.8x, well below historical averages for CGD companies
  • India's largest CGD company by sales volume at ~8.37 mmscmd across 44 districts in 6 states, providing scale advantages
  • Healthy dividend payout of 28.5% with current dividend yield of 2.16%, offering income support
  • CNG volumes growing 11-12% YoY (3.45 mmscmd in Q3 FY26 vs 3.12 mmscmd in Q3 FY25) driven by vehicle conversion trends
  • 10-year compounded profit CAGR of 24% and sales CAGR of 14% reflect a long-term structural growth story
  • Massive pipeline network of over 44,540 km and 834+ CNG stations creates a durable moat against new entrants
Bear Case 8
  • Promoter holding decreased by 22% in the last quarter, signaling potential dilution or strategic restructuring risk
  • Stock has declined 29% over the past 1 year and delivered a negative 10% CAGR over 3 years, indicating sustained underperformance
  • 3-year ROE of only 14% is modest for a capital-intensive utility, below the 5-year average of 17%
  • 3-year compounded profit CAGR of just 5% suggests earnings growth was weak before the recent TTM surge
  • 5-year stock CAGR of -13% shows prolonged value destruction for medium-term holders despite business growth
  • CNG volume saw annual decline of -12% in Q4 FY25, highlighting segment-level demand volatility
  • Operating expenses per scm jumped 17% YoY in Q4 FY25, pressuring unit-level EBITDA margins
  • Last year ROE dropped to 13% from 14% three-year average, showing declining capital efficiency trend

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

AI News Digest

Anthropic anthropic claude-opus-4.6 13h ago
Positives 3
  • Q1 profit surges 78% YoY Aug 11

    Standalone net profit rose 78% YoY to ₹997.97 crore in Q1FY27, driven by strong CGD and Gas Trading performance post-amalgamation.

  • CGD volume hits 12.34 MMSCMD Aug 12

    Q1FY27 investor presentation shows CGD volume reached 12.34 MMSCMD, led by CNG and PNG expansion following the merger.

  • Board reshuffle approved by shareholders Aug 4

    Eight resolutions passed via postal ballot appointing Manoj Kumar Das as Chairman and Avantika Singh Aulakh as MD, all with requisite majority.

Neutral 3
  • GSEG reclassification to public shareholder Aug 11

    Board approved reclassifying Gujarat State Energy Generation Limited's 0.14% holding from Promoter to Public Shareholder category, simplifying post-amalgamation structure with no change in control.

  • Fractional share dues settled Aug 11

    Gujarat Energy completed distribution of net proceeds from sale of fractional shares arising from the composite amalgamation scheme.

  • Q1 earnings call set Aug 12 Aug 3

    Post-results conference call scheduled for 12 August 2026 at 4:00 PM IST with senior management.

TL;DR: Gujarat Energy delivered a strong Q1FY27 with 78% profit growth and robust CGD volumes at 12.34 MMSCMD, reflecting successful post-merger integration. No material headwinds emerged in recent news. Corporate housekeeping items like GSEG reclassification and fractional share settlements indicate orderly amalgamation completion. The trend is clearly improving with volume-led growth in the CGD segment providing forward momentum.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 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
33
25
28
24
88
39
40
58
75
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
PBT
478
290
399
297
551
444
417
300
389
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
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
PBT
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
Div. Payout %
15%
18%
19%
19%
16%
7%
11%
11%
30%
34%
35%
17%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
1,094
637
701
785
964
1,420
1,659
1,662
2,375
1,634
1,806
2,721
Investing
-365
375
-458
-430
-612
-466
-614
-1,294
-1,039
-879
-1,921
-2,097
Financing
-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
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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

As of Jun 2026
Promoters 38.94%
DIIs 24.23%
Others 11.94%
FIIs 10.85%
Government 7.23%
Public 6.80%
Total 99.99%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026May 2026Jun 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
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.72%
4.31%
4.51%
4.53%
3.97%
3.86%
3.70%
3.82%
3.97%
10.57%
10.85%
DIIs
7.38%
7.90%
8.07%
8.03%
9.53%
10.01%
12.83%
12.55%
13.28%
13.11%
13.01%
13.96%
15.05%
14.76%
14.37%
14.21%
14.81%
14.99%
14.97%
15.06%
14.76%
24.69%
24.23%
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%
5.56%
5.98%
5.85%
5.87%
5.74%
5.47%
5.59%
5.58%
5.79%
6.51%
6.26%
4.93%
4.79%
4.79%
5.00%
5.03%
4.92%
5.02%
4.87%
5.00%
6.66%
6.80%
Others
26.25%
25.65%
25.06%
25.23%
23.70%
23.35%
13.72%
13.96%
13.24%
13.20%
12.57%
11.87%
8.41%
8.24%
8.43%
8.37%
8.28%
8.33%
8.41%
8.35%
8.36%
11.90%
11.94%
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
3,27,682
3,27,344

Documents

Frequently Asked Questions about Gujarat Gas Ltd

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. The business of natural gas involves distribution of gas from sources of supply to centres of dema...
Where is Gujarat Gas Ltd (GUJGASLTD) listed?
Gujarat Gas Ltd is listed on the Indian stock exchanges. It is listed on NSE: GUJENERGY and BSE: 539336. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Gujarat Gas Ltd belong to?
Gujarat Gas Ltd operates in the Oil & Gas sector within the Gas Supplier industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Gujarat Gas Ltd?
Gujarat Gas Ltd has a market capitalisation of approximately ₹24356.02 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Gujarat Gas Ltd?
The Price-to-Earnings (PE) ratio of Gujarat Gas Ltd is 17.03. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Gujarat Gas Ltd?
Over the past 52 weeks, Gujarat Gas Ltd has traded between a low of ₹255.2 and a high of ₹452. This range helps investors understand the stock's price volatility and recent trading levels.
Does Gujarat Gas Ltd pay dividends?
Yes, Gujarat Gas Ltd has a dividend yield of 2.27%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Gujarat Gas Ltd?
Gujarat Gas Ltd has a Return on Equity (ROE) of 13.53%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Gujarat Gas Ltd on Tapetide?
On Tapetide, you can view Gujarat Gas Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

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. [1] 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. [2]

Website gujaratgas.com
CEO Mr. Sandeep Dave
Employees 895
Listed 2015-09-15
Face Value ₹ 2
Issued Size 68,83,90,125

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