| 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 | Sept 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 | 3,852 |
| 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 | 3,333 |
| 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 | 519 |
| 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 % | 12 % |
| 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 | 134 |
| 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 | 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 | 377 |
| 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 | 97 |
| 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 | 280 |
| 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 | 4.06 |
Gujarat Gas
Gujarat Gas
391.60
-5.05
(-1.27%)
Market Cap
₹26,957.36 Cr
PE Ratio
24.44
Volume
2,53,102.00
Day High - Low
₹397.95 - ₹390.50
52W High-Low
₹517.90 - ₹360.25
Key Fundamentals
Market Cap
26,957.36 Cr
EPS
16.68
PB Ratio
3.14
Book Value
126.36
EBITDA
2,088.00
Dividend Yield
1.47 %
Industry
Oil & Gas Sector
Gas Supplier Return on Equity
13.53
Debt to Equity
0.02
Analyst Rating and Forecast
- By Refinitiv from30 analysts
Actual
Company News
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Gujarat Gas Limited announces Board meeting on January 20, 2026, to consider Q3 FY26 financial results. Trading window closes from January 1-22, 2026.
India Ratings affirmed Gujarat Gas Limited's INR 47,000 million bank loan facilities at IND AAA/Stable/IND A1+ rating, considering the ongoing amalgamation with parent company GSPC expected by end-FY26. The rating reflects GGL's strong operational profile as India's largest city gas distribution entity with 27 geographical areas, healthy EBITDA generation, net cash position, and expected revenue growth from gas trading business post-merger.
Gujarat Gas reported Q2 FY26 revenue of ₹3,979 crores versus ₹3,949 crores last year, while EBITDA declined to ₹520 crores from ₹553 crores and PAT dropped to ₹281 crores from ₹307 crores. Industrial segment volumes fell 8% to 4.34 MMSCMD with Morbi volumes declining from 2.51 MMSCMD to 2.13 MMSCMD due to propane price competition, though CNG segment showed strong 13% growth and the company expects merger scheme approval by December 2025.
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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 |
|---|---|---|---|---|---|---|---|---|
565.80 | #1 62,227.25 | 99.02 | 5,030.70 | 11.33 | 654 | -11.91 | 26.76 | |
281.30 | 42,195.00 | #1 11.42 | #1 51,755.00 | -2.97 | #1 3,884 | -4.63 | 59.12 | |
193.90 | 27,146.03 | 17.21 | 15,261.90 | 7.02 | 1,713 | -15.24 | 50.72 | |
391.60 | #4 26,957.36 | #6 24.44 | #2 16,695.20 | #7 5.69 | #3 1,148 | #5 -9.36 | 48.07 | |
1,134.00 | 11,201.40 | 11.56 | 7,430.40 | 14.93 | 1,040 | -33.30 | 42.65 | |
36.20 | 1,202.71 | 12.85 | 3,188.20 | #1 17.49 | 88 | -6.42 | 48.89 | |
282.55 | 1,160.14 | 28.34 | 1,009.90 | 10.46 | 47 | 5.00 | 41.35 | |
246.00 | 252.87 | 18.01 | 288.80 | 6.22 | 14 | #1 3,700.00 | 48.42 |
Automatic Screeners on ScanX
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 | 1.47 |
Corporate Action
| Record Date | Corporate Action | Information | Announcement Day | LTP at Annoucement | LTP at Record Day |
|---|---|---|---|---|---|
| 20 Jan 2026 |  Quarterly Result Announcement | NA | 20 Jan 2026 | 383.30 | 396.65 |
| 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 |
| 10 Nov 2025 | Quarterly Result Announcement | NA | 10 Nov 2025 | 431.95 | 399.25 |
Announcements
Closure of Trading Window
5 days ago
5 days agoBoard Meeting Intimation for Consideration Of Unaudited (Standalone & Consolidated) Financial Results For The Quarter Ended 31St December 20255 days ago
5 days agoAnnouncement under Regulation 30 (LODR)-Credit RatingNov 27, 2025
Nov 27, 2025Announcement under Regulation 30 (LODR)-Earnings Call TranscriptNov 18, 2025
Nov 18, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 14, 2025
Nov 14, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - OutcomeNov 12, 2025
Nov 12, 2025Announcement under Regulation 30 (LODR)-Investor PresentationNov 10, 2025
Nov 10, 2025Announcement under Regulation 30 (LODR)-Press Release / Media ReleaseNov 10, 2025
Nov 10, 2025Board Meeting Outcome for Announcement Of Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended 30.09.2025Nov 10, 2025
Nov 10, 2025Outcome Of Board Meeting - Announcement Of Unaudited (Standalone & Consolidated) Financial Results For The Quarter And Half Year Ended 30Th September 2025Nov 10, 2025
Nov 10, 2025Announcement under Regulation 30 (LODR)-Newspaper PublicationNov 08, 2025
Nov 08, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 06, 2025
Nov 06, 2025Closure of Trading WindowNov 04, 2025
Nov 04, 2025Update on board meetingNov 04, 2025
Nov 04, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateNov 02, 2025
Nov 02, 2025Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationNov 01, 2025
Nov 01, 2025Announcement under Regulation 30 (LODR)-Change in DirectorateNov 01, 2025
Nov 01, 2025Announcement under Regulation 30 (LODR)-Resignation of DirectorNov 01, 2025
Nov 01, 2025Announcement under Regulation 30 (LODR)-Resignation of ChairmanNov 01, 2025
Nov 01, 2025Shareholder Meeting / Postal Ballot-Scrutinizer"s ReportOct 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, 2025Mutual Fund Holdings
ICICI Prudential Multi Asset Fund Direct-Growth 
Sundaram Multi-Factor Fund Direct-Growth 
Motilal Oswal Nifty Midcap 150 Index Fund Direct - Growth 
LIC MF Manufacturing Fund Direct-Growth 
Nippon India Nifty Midcap 150 Index Fund Direct - Growth 
DSP Nifty Midcap 150 Quality 50 Index Fund Direct - Growth 
Zerodha Nifty Large Midcap 250 Index Fund Direct - Growth 
HDFC NIFTY Midcap 150 Index Fund Direct - Growth 
JioBlackRock Nifty Midcap 150 Index Fund Direct-Growth 
SBI Nifty Midcap 150 Index Fund Direct - Growth 
Aditya Birla Sun Life Nifty Midcap 150 Index Fund Direct-Growth 
Navi Nifty Midcap 150 Index Fund Direct - Growth 
UTI Nifty Midcap 150 Quality 50 Index Fund Direct - Growth 
Kotak Nifty Midcap 150 Index Fund Direct - Growth 
Edelweiss NIFTY Large Mid Cap 250 Index Fund Direct - Growth Technical Indicators
RSI(14)
Neutral 48.07
ATR(14)
Less Volatile 8.34
STOCH(9,6)
Neutral 42.67
STOCH RSI(14)
Neutral 67.54
MACD(12,26)
Bullish 0.46
ADX(14)
Weak Trend 23.81
UO(9)
Bearish 49.21
ROC(12)
Downtrend And Accelerating -2.44
WillR(14)
Neutral -53.09
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 NameM K Das
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