| Quarterly Financials | Jun 2018 | Sept 2018 | Dec 2018 | Mar 2019 | Jun 2019 | Sept 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sept 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
Revenue  | 1,825 | 1,983 | 2,134 | 1,926 | 2,638 | 2,537 | 2,526 | 2,686 | 1,098 | 2,535 | 2,852 | 3,453 | 3,033 | 3,643 | 5,181 | 4,687 | 5,190 | 3,996 | 3,717 | 3,962 | 3,806 | 3,874 | 3,953 | 4,222 | 4,490 | 3,822 | 4,211 | 4,177 | 3,931 |
| Expenses | 1,517 | 1,804 | 1,814 | 1,653 | 2,148 | 2,143 | 2,136 | 2,241 | 897 | 1,780 | 2,219 | 2,882 | 2,288 | 3,206 | 4,907 | 3,984 | 4,564 | 3,334 | 3,102 | 3,368 | 3,394 | 3,349 | 3,528 | 3,543 | 3,915 | 3,268 | 3,772 | 3,653 | 3,351 |
| EBITDA | 308 | 179 | 320 | 273 | 489 | 394 | 390 | 445 | 201 | 755 | 634 | 572 | 745 | 437 | 274 | 703 | 626 | 662 | 615 | 593 | 413 | 525 | 424 | 679 | 575 | 555 | 438 | 525 | 580 |
| Operating Profit % | 14 % | 8 % | 14 % | 13 % | 18 % | 15 % | 15 % | 16 % | 17 % | 29 % | 22 % | 16 % | 24 % | 12 % | 5 % | 15 % | 12 % | 16 % | 16 % | 14 % | 10 % | 13 % | 10 % | 14 % | 12 % | 14 % | 9 % | 11 % | 13 % |
| Depreciation | 71 | 72 | 73 | 72 | 78 | 80 | 80 | 81 | 82 | 86 | 87 | 88 | 91 | 95 | 97 | 102 | 103 | 106 | 109 | 109 | 115 | 118 | 120 | 121 | 123 | 130 | 129 | 129 | 131 |
| Interest | 49 | 49 | 49 | 50 | 51 | 53 | 47 | 42 | 40 | 34 | 24 | 18 | 16 | 12 | 14 | 14 | 14 | 13 | 8 | 6 | 7 | 8 | 7 | 7 | 8 | 8 | 9 | 7 | 8 |
| Profit Before Tax | 189 | 58 | 198 | 151 | 361 | 261 | 264 | 322 | 79 | 635 | 522 | 466 | 638 | 330 | 163 | 587 | 510 | 542 | 498 | 478 | 290 | 399 | 297 | 551 | 444 | 417 | 300 | 389 | 441 |
| Tax | 67 | 17 | 60 | 34 | 127 | -256 | 67 | 72 | 20 | 160 | 131 | 118 | 162 | 84 | 40 | 142 | 128 | 138 | 126 | 107 | 74 | 103 | 76 | 140 | 114 | 108 | 79 | 101 | 113 |
| Net Profit | 122 | 41 | 139 | 117 | 234 | 517 | 197 | 251 | 59 | 476 | 391 | 348 | 477 | 246 | 123 | 444 | 382 | 404 | 372 | 371 | 216 | 296 | 221 | 411 | 331 | 309 | 221 | 288 | 328 |
| EPS in ₹ | 8.86 | 2.98 | 2.02 | 1.69 | 3.40 | 7.51 | 2.87 | 3.64 | 0.86 | 6.91 | 5.68 | 5.10 | 6.92 | 3.57 | 1.79 | 6.45 | 5.55 | 5.87 | 5.39 | 5.38 | 3.14 | 4.30 | 3.21 | 5.96 | 4.80 | 4.48 | 3.21 | 4.18 | 4.76 |
Gujarat Gas
Gujarat Gas
408.70
-2.95
(-0.72%)
Key Fundamentals
Market Cap
28,134.50 Cr
EPS
16.68
PE Ratio
24.73
Dividend Yield
1.41 %
Industry
Oil & Gas 52 Week High
553.00
52 Week Low
360.25
PB Ratio
3.34
Debt to Equity
0.02
Sector
Gas Supplier Analyst Rating and Forecast
- By Refinitiv from29 analysts
Actual
Company News
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Gujarat Gas Limited held an equity shareholders meeting on October 17, 2025, through video conferencing to consider a Composite Scheme of Amalgamation and Arrangement. The meeting was convened following directions from the Ministry of Corporate Affairs dated September 10, 2025. The proposed merger involves five companies: Gujarat State Petroleum Corporation Limited, Gujarat State Petronet Limited, GSPC Energy Limited, Gujarat Gas Limited, and GSPL Transmission Limited. The meeting was chaired by Pankaj Joshi, IAS, and managed by Company Secretary Sandeep Dave. Shareholders were provided with remote e-voting facilities through Central Depository Services (India) Limited, with voting available before, during, and 15 minutes after the meeting. The special resolution requires approval from the Ministry of Corporate Affairs and other regulatory authorities. The meeting concluded at 3:30 PM with voting results to be published on the company website and forwarded to NSE and BSE where Gujarat Gas shares are listed.
Gujarat Gas Schedules Quarterly Results Review for November 7Sep 26, 2025
Gujarat Gas has announced it will review its second quarter results on November 7. The company has set this date for the quarterly earnings review.
Gujarat Gas held a shareholders' meeting on September 17 to approve a proposed amalgamation scheme involving GSPC, GSPL, and Gujarat Gas. Under the merger terms, GSPC shareholders will receive 10 Gujarat Gas shares for every 305 shares held, while GSPL shareholders will get 10 shares for every 13 held. The deal includes a demerger of the Gas Transmission business into GSPL Transmission Ltd., with Gujarat Gas shareholders receiving one transmission company share for every three shares owned. Antique Stock Broking noted the merger provides immediate value creation for Gujarat Gas through ₹7,200 crore in carry-forward losses from GSPC and synergy benefits. Equirus called it a well-structured deal that strengthens Gujarat Gas's position as India's second-largest gas trading company. Gujarat Gas shares closed 1.15% higher at ₹436, though the stock is down 14% year-to-date.
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Peer Comparison Compare Peers on Screener
Competitors | LTP | Market Cap (₹ Cr.) | P/E Ratio | Revenue (₹ Cr.) | YoY Revenue Growth % | Net Profit (₹ Cr.) | YoY Profit Growth % | RSI |
|---|---|---|---|---|---|---|---|---|
632.75 | #1 69,590.48 | 112.18 | 5,030.70 | 11.33 | 654 | -11.91 | 55.39 | |
281.65 | 42,247.50 | #1 11.43 | #1 51,755.00 | -2.97 | #1 3,884 | -23.84 | 54.12 | |
211.29 | 29,580.63 | 17.88 | 15,261.90 | 7.02 | 1,713 | -10.91 | 50.43 | |
408.70 | #4 28,134.50 | #6 24.73 | #2 16,695.20 | #7 5.69 | #3 1,148 | #3 -0.94 | 38.53 | |
1,274.60 | 12,590.22 | 12.84 | 7,430.40 | 14.93 | 1,040 | -33.30 | 43.38 | |
41.98 | 1,394.75 | 14.66 | 3,188.20 | #1 17.49 | 88 | 33.12 | 41.29 | |
312.60 | 1,283.53 | 32.13 | 1,009.90 | 10.46 | 47 | -25.67 | 42.87 | |
290.00 | 298.09 | 21.08 | 288.80 | 6.22 | 14 | #1 3,700.00 | 49.46 |
Growth Rate
Revenue Growth
5.69 %
Net Income Growth
0.40 %
Cash Flow Change
10.52 %
ROE
-8.64 %
ROCE
-7.48 %
EBITDA Margin (Avg.)
-0.32 %
Quarterly Financial Results
Balance Sheet
| Balance Sheet | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Total Assets | 6,915 | 6,069 | 6,375 | 6,662 | 7,158 | 7,925 | 8,539 | 9,587 | 10,927 | 11,692 | 12,651 |
| Fixed Assets | 4,487 | 4,674 | 4,903 | 5,094 | 5,290 | 5,585 | 6,040 | 6,631 | 7,338 | 7,763 | 8,208 |
| Current Assets | 1,632 | 466 | 527 | 700 | 1,037 | 1,440 | 1,341 | 1,390 | 1,979 | 2,229 | 2,965 |
| Capital Work in Progress | 357 | 468 | 506 | 478 | 489 | 570 | 732 | 992 | 983 | 918 | 839 |
| Investments | 937 | 143 | 92 | 41 | 42 | 43 | 48 | 52 | 63 | 168 | 172 |
| Other Assets | 1,134 | 784 | 875 | 1,049 | 1,337 | 1,728 | 1,719 | 1,912 | 2,544 | 2,843 | 3,433 |
| Total Liabilities | 6,915 | 6,069 | 6,375 | 6,662 | 7,158 | 7,925 | 8,539 | 9,587 | 10,927 | 11,692 | 12,651 |
| Current Liabilities | 2,461 | 1,823 | 1,400 | 1,498 | 1,677 | 1,819 | 2,314 | 2,511 | 2,803 | 2,815 | 2,964 |
| Non Current Liabilities | 2,444 | 2,723 | 3,312 | 3,297 | 3,275 | 2,789 | 1,748 | 1,447 | 1,096 | 1,154 | 1,197 |
| Total Equity | 2,010 | 1,523 | 1,664 | 1,866 | 2,205 | 3,317 | 4,478 | 5,630 | 7,028 | 7,723 | 8,490 |
| Reserve & Surplus | 1,872 | 1,386 | 1,526 | 1,729 | 2,068 | 3,180 | 4,340 | 5,492 | 6,890 | 7,585 | 8,352 |
| Share Capital | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 | 138 |
Cash Flow
| Cash Flow | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| Net Cash Flow | 166 | -212 | -9 | 82 | 3 | 451 | -274 | -260 | 658 | 241 | -589 |
| Investing Activities | -365 | 375 | -458 | -430 | -612 | -467 | -614 | -1,294 | -1,039 | -879 | -1,921 |
| Operating Activities | 1,094 | 637 | 701 | 785 | 964 | 1,420 | 1,659 | 1,662 | 2,376 | 1,634 | 1,806 |
| Financing Activities | -563 | -1,224 | -251 | -273 | -349 | -502 | -1,318 | -628 | -678 | -514 | -474 |
Share Holding
| % Holding | Mar 2021 | Jun 2021 | Sept 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sept 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 |
| Promoter | 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 % |
| 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 % |
| 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 % |
| 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 % |
| Public / Retail | 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 % |
| 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 % |
| No of Share Holders | 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 |
Dividend History
| Annual Cash Flows | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Per Share (₹) | 0.00 | 3 | 4 | 1 | 1.25 | 2 | 2 | 6.65 | 5.66 | 5.82 |
| Dividend Yield (%) | 0.00 | 1.8 | 2.7 | 0.43 | 0.23 | 0.4 | 0.43 | 1.22 | 1.37 | 1.41 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 07 Nov 2025 |  Quarterly Result Announcement | NA | 07 Nov 2025 | 431.95 | 411.45 |
| 09 Sept 2021 |  Dividend | ₹ 2.00 /share | 08 Sept 2021 | 536.30 | 689.10 |
| 22 Aug 2022 | Dividend | ₹ 2.00 /share | 19 Aug 2022 | 519.20 | 490.90 |
| 11 Sept 2023 | Dividend | ₹ 6.65 /share | 11 Sept 2023 | 466.50 | 464.40 |
| 09 Sept 2024 | Dividend | ₹ 5.66 /share | 09 Sept 2024 | 535.65 | 667.00 |
| 26 Sept 2024 |  Annual General Meeting | NA | 26 Sept 2024 | 601.30 | 605.00 |
| 06 Nov 2024 | Quarterly Result Announcement | NA | 06 Nov 2024 | 617.20 | 512.65 |
| 05 Feb 2025 | Quarterly Result Announcement | NA | 05 Feb 2025 | 466.60 | 467.55 |
| 19 May 2025 | Quarterly Result Announcement | NA | 19 May 2025 | 451.35 | 469.45 |
| 05 Aug 2025 | Quarterly Result Announcement | NA | 05 Aug 2025 | 461.40 | 421.05 |
| 05 Sept 2025 | Dividend | ₹ 5.82 /share | 04 Sept 2025 | 469.45 | 442.55 |
| 25 Sept 2025 | Annual General Meeting | NA | 25 Sept 2025 | 422.25 | 434.00 |
| 17 Oct 2025 |  Extraordinary General Meeting | NA | 17 Oct 2025 | 442.90 | 419.90 |
Announcements
Shareholder Meeting / Postal Ballot-Scrutinizer"s Report
Oct 18, 2025
Oct 18, 2025Shareholder Meeting / Postal Ballot-Outcome of Court Convened MeetingOct 18, 2025
Oct 18, 2025Announcement under Regulation 30 (LODR)-Meeting UpdatesOct 17, 2025
Oct 17, 2025Shareholder Meeting / Postal Ballot-Outcome of Court Convened MeetingOct 17, 2025
Oct 17, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Oct 14, 2025
Oct 14, 2025Announcement under Regulation 30 (LODR)-Credit RatingOct 10, 2025
Oct 10, 2025Announcement under Regulation 30 (LODR)-Credit RatingSep 29, 2025
Sep 29, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 26, 2025
Sep 26, 2025Shareholder Meeting / Postal Ballot-Scrutinizers ReportSep 26, 2025
Sep 26, 2025Board Meeting Intimation for Notice Of Board Meeting Of Gujarat Gas LimitedSep 26, 2025
Sep 26, 2025Closure of Trading WindowSep 26, 2025
Sep 26, 2025Shareholder Meeting / Postal Ballot-Outcome of AGMSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Meeting UpdatesSep 25, 2025
Sep 25, 2025Announcement under Regulation 30 (LODR)-Credit RatingSep 23, 2025
Sep 23, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 15, 2025
Sep 15, 2025Announcement under Regulation 30 (LODR)-Scheme of ArrangementSep 14, 2025
Sep 14, 2025Notice Of Meeting Of Equity Shareholders Of Gujarat Gas Limited As Per Order Of Honble MCA Dated 10Th September 2025Sep 14, 2025
Sep 14, 2025Intimation Of Meeting Of Shareholders Of Gujarat Gas Limited As Per The Directions Issued By The Honble MCASep 12, 2025
Sep 12, 2025Announcement under Regulation 30 (LODR)-Change in ManagementSep 11, 2025
Sep 11, 2025Receipt Of Order Of The Honble Ministry Of Corporate Affairs New Delhi In Relation To Composite Scheme Of Amalgation And ArrangementSep 10, 2025
Sep 10, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationSep 08, 2025
Sep 08, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 31, 2025
Aug 31, 2025Business Responsibility and Sustainability Reporting (BRSR)Aug 30, 2025
Aug 30, 2025Notice Convening 13Th Annual General Meeting Of Gujarat Gas Limited - 25Th September 2025 At 3.00 P.M. Through VC/OAVMAug 30, 2025
Aug 30, 2025Reg. 34 (1) Annual Report.Aug 30, 2025
Aug 30, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationAug 19, 2025
Aug 19, 2025Announcement under Regulation 30 (LODR)-Dividend UpdatesAug 18, 2025
Aug 18, 2025Announcement under Regulation 30 (LODR)-Date of payment of DividendAug 18, 2025
Aug 18, 2025Intimation Of Record Date For Payment Of DividendAug 18, 2025
Aug 18, 202513Th Annual General Meeting Of Gujarat Gas Limited - 25Th September 2025Aug 18, 2025
Aug 18, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptAug 12, 2025
Aug 12, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Investor PresentationAug 06, 2025
Aug 06, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseAug 05, 2025
Aug 05, 2025Outcome Of Board MeetingAug 05, 2025
Aug 05, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 05, 2025
Aug 05, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 05, 2025
Aug 05, 2025Announcement under Regulation 30 (LODR)-Change in ManagementAug 05, 2025
Aug 05, 2025Outcome Of Board Meeting Financial Results Q1 FY 25-26Aug 05, 2025
Aug 05, 2025Communication Sent To Shareholders Of The Company On TDS On Dividend IncomeAug 04, 2025
Aug 04, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseJul 31, 2025
Jul 31, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationJul 15, 2025
Jul 15, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationJul 11, 2025
Jul 11, 2025KYC Updation Communication To Physical ShareholdersJul 09, 2025
Jul 09, 2025Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations 2018Jul 09, 2025
Jul 09, 2025Closure of Trading WindowJun 27, 2025
Jun 27, 2025Board Meeting Intimation for Consideration Of Un-Audited Financial Results For Quarter Ended On 30Th June 2025 And Closure Of Trading WindowJun 27, 2025
Jun 27, 2025Reminder Letters Sent To Identified Shareholders For Claiming Dividend/Shares In Order To Avoid Transfer Of Shares To Investor Education And Protection Fund (IEPF) Authority.Jun 26, 2025
Jun 26, 2025Announcement under Regulation 30 (LODR)-CessationJun 02, 2025
Jun 02, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptMay 27, 2025
May 27, 2025Mutual Fund Holdings
ICICI Prudential Multi Asset Fund Direct-Growth 
UTI Infrastructure Fund Direct-Growth 
LIC MF Multi Cap Fund Direct - Growth 
Bandhan Multi-Factor Fund Direct - Growth 
DSP Nifty Midcap 150 Quality 50 Index Fund Direct - Growth 
Motilal Oswal Nifty Midcap 150 Index Fund Direct - Growth 
HDFC Nifty LargeMidcap 250 Index Fund Direct-Growth 
SBI Nifty Midcap 150 Index Fund Direct - Growth 
Nippon India Nifty 500 Equal Weight Index Fund Direct-Growth 
Aditya Birla Sun Life Nifty Midcap 150 Index Fund Direct-Growth 
Edelweiss NIFTY Large Mid Cap 250 Index Fund Direct - Growth 
Navi Nifty Midcap 150 Index Fund Direct - Growth Technical Indicators
RSI(14)
Neutral 38.53
ATR(14)
Less Volatile 8.47
STOCH(9,6)
Oversold 15.57
STOCH RSI(14)
Neutral 30.46
MACD(12,26)
Bearish -1.05
ADX(14)
Weak Trend 19.10
UO(9)
Bearish 40.10
ROC(12)
Downtrend And Accelerating -3.56
WillR(14)
Neutral -77.03
About Gujarat Gas
Gujarat Gas Limited is India's largest city gas distribution company, operating in 44 districts across Gujarat, Maharashtra, and the Union Territory of Dadra Nagar Haveli. The company manages a 35,650 km gas pipeline network, 808 CNG stations, and serves over 1.9 million households and 4,360 industrial customers. It provides approximately 9.75 mmscmd of natural gas. Gujarat Gas is engaged in the distribution of natural gas, CNG, LNG, and LPG through pipelines and other transportation methods. The company holds 27 city gas distribution licenses across six states and one Union territory. In recent years, Gujarat Gas has expanded its operations, adding new CNG stations and household connections, and has begun exploring electric vehicle charging and green hydrogen blending projects.
Chairperson NamePankaj Joshi
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