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Gujarat State Petronet Ltd. - (Amalgamation) (GSPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532702 NSE: GSPL Gas Transmission/Marketing | Small Cap | Guj. State Amalgamat Share Price

₹268.95 0.00 (0.00%)

As on 11-May'26 16:59

Gujarat State Petronet Ltd. - (Amalgamation) (GSPL)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532702 NSE: GSPL Gas Transmission/Marketing | Small Cap | Guj. State Amalgamat Share Price

₹268.95 0.00 (0.00%)

As on 11-May'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹15,174 Cr.
Current Price
₹269
52-Week Low / High
₹226 / 348
TTM EPS
₹12.6
TTM Sales
₹1,068 Cr.
Book Value per Share
₹197.5
P/E Ratio
21.37
Higher than its 5-year historical median
Industry PE
21.9
Price to Book (P/B)
1.36
Lower than its 5-year historical median
Price to Sales (P/S)
14.21
Higher than its 5-year historical median
EV/EBITDA
12.25
Higher than its 5-year historical median
Dividend Yield
1.86%
Profitability Efficiency
Return on Equity (ROE)
7.67%
Underperforms industry median
Return on Capital Employed (ROCE)
9.61%
Underperforms industry median
Return on Assets (ROA)
7.00%
Operating Profit Margin
73%
Net Profit Margin
72.71%
Gross Profit Margin
108.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-45.32%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-46.07%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-37.13%
Asset Quality
Promoter Holding
37.63%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,577 Cr.
Equity
₹564.2 Cr.
Face Value
₹10
All Time Low / High
₹25.25 / 469.60

Gujarat State Petronet . - (Amalgamation) stock performance

Key Ratios
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Q.1 Is Gujarat State Petronet Ltd a good quality company?
Gujarat State Petronet Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Gujarat State Petronet Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Gujarat State Petronet Ltd vs industry peers?
Gujarat State Petronet Ltd revenue CAGR is -14.01%, compared to the industry median CAGR of 13.33%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Gujarat State Petronet Ltd?
Promoters hold 37.63% of the Gujarat State Petronet Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Gujarat State Petronet Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 6.7% based on the current price.

DeciZen - make an informed investing decision on Guj. State Amalgamat

Decision Maker
Standalone basis

1. Right Stock

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2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Gujarat State Petronet Ltd. - (Amalgamation) has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 15.1%15.5%15.8%17.5%17.6%15.8%15.3%13.9%16.9%9.6%-
Value Creation
Index
0.10.20.20.30.30.20.10.00.5-0.3-

Growth Parameters

Sales 9921,0281,3321,8772,3632,0792,0201,7622,0321,1111,068
Sales YoY Gr.-3.6%29.6%41%25.9%-12%-2.9%-12.8%15.3%-45.3%-
Adj EPS 7.98.811.914.119.716.517.416.822.814.312.6
YoY Gr.-11.4%34.6%18.9%39.7%-16.2%5.3%-3.6%35.9%-37.2%-
BVPS (₹) 72.179.789.8101.8119.2133.7149.6164.4182191.1197.5
Adj Net
Profit
4454976687951,1119319819451,285808710
Cash Flow from Ops. 6039448941,0881,3601,2411,0759661,172938-
Debt/CF from Ops. 1.80.73.42.21.20.80.1000-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 1.3%-14%-18.1%-45.3%
Adj EPS 6.8%-6.2%-6.3%-37.2%
BVPS11.4%9.9%8.5%5%
Share Price 6.9% -4.1% -2.4% -19.7%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
11.611.61414.717.813.112.310.713.27.76.5
Op. Profit
Mgn %
87.386.586.282.266.770.969.371.4747362.3
Net Profit
Mgn %
44.948.350.242.44744.848.653.663.272.766.4
Debt to
Equity
0.30.10.60.40.20.10000-
Working Cap
Days
23719311086758286119191384473
Cash Conv.
Cycle
62714740352624373970351

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales991.931,027.551,331.751,877.192,363.122,079.422,020.021,761.802,031.541,110.79
Operating Expenses + 125.90139.25183.95334.59787.10606.08622.40503.18527.45299.61
Manufacturing Costs58.4864.8794.93212.50644.13474.49487.35342.90361.68141.50
Material Costs0000.3300015.8016.510
Employee Cost 36.1238.8443.2064.5561.9159.1665.3372.2280.2686.82
Other Costs 31.2935.5445.8257.2181.0672.4369.7272.266971.29
Operating Profit 866.03888.301,147.801,542.591,576.021,473.331,397.621,258.621,504.08811.18
Operating Profit Margin (%) 87.3%86.4%86.2%82.2%66.7%70.9%69.2%71.4%74.0%73.0%
Other Income + 65.6488.2073.4759.3665.2969.28104.50168.41335.05404.11
Exceptional Items 0000000000
Interest 79.9259.5835.41219.20164.4592.9231.304.624.938.48
Depreciation 182.91179.14175.04179.98194.58203195.99193.86192.01203.53
Profit Before Tax 668.84737.791,010.811,202.781,282.281,246.691,274.831,228.551,642.201,003.28
Tax 223.49241.15342.38408.11171.03316295.78283.60357.56195.66
Profit After Tax 445.35496.64668.43794.671,111.25930.69979.05944.951,284.64807.62
PAT Margin (%) 44.9%48.3%50.2%42.3%47.0%44.8%48.5%53.6%63.2%72.7%
Adjusted EPS (₹)7.98.811.914.119.716.517.416.822.814.3
Dividend Payout Ratio (%)19%17%14.80%14.20%10.20%12.10%11.50%29.90%22%34.90%

Valuation of Guj. State Amalgamat - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 4,064.164,492.115,062.355,742.126,721.747,5458,442.919,273.1810,270.0710,783.31
Share Capital 563.34563.59563.83563.97564.10564.21564.21564.21564.21564.21
Reserves 3,500.823,928.534,498.525,178.156,157.646,980.797,878.708,708.979,705.8610,219.09
Debt +790.45501.181,759.481,285.56544.13749.8735.05000
Long Term Debt790.45501.181,759.481,285.56544.13324.690000
Short Term Debt00000425.1835.05000
Minority Interest0000000000
Trade Payables15.0113.7918.5523.844162.0365.3750.9837.5479.07
Others Liabilities 976.70826.292,108.151,898.431,7961,015.92796.63764.12773.251,130.10
Total Liabilities 5,846.325,833.378,948.538,949.969,102.889,372.829,339.9610,088.2811,080.8611,992.48

Fixed Assets

Net Fixed Assets +3,123.063,165.683,114.173,607.503,585.753,466.663,325.473,155.213,035.263,564.72
Gross Block3,305.963,527.703,651.204,324.504,484.754,5794,633.944,656.564,727.865,455.40
Accumulated Depreciation182.90362.02537.037178991,112.341,308.471,501.341,692.601,890.68
CWIP 767.91686.37895.92419.36237.16221.62253.08425.69761.83282.23
Investments 731.10765.504,181.364,277.184,611.115,006.175,173.695,169.975,329.725,338.80
Inventories117.73112.34123.46127.91126.13129.61189.03212.09210.84257.07
Trade Receivables151.75118.93123.52208.10163.69160.33129.51144.05141.23109.62
Cash Equivalents 552.93802.64364.53158.2995.7087.7286.41691.67473.441,930.72
Others Assets 401.83181.92145.57151.62283.34300.71182.77289.601,128.54509.31
Total Assets 5,846.325,833.378,948.538,949.969,102.889,372.829,339.9610,088.2811,080.8611,992.48

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 602.68943.61894.371,088.231,360.231,241.221,075.17966.351,172.42938.47
PBT 668.84737.791,010.811,202.781,278.601,238.201,316.451,228.551,642.201,003.28
Adjustment 204.97175.20143.26344.93300.56237.1585.0339.24-127.21-178.54
Changes in Working Capital -64.98253.450.82-95.5489.2968.4-20.15-27.3710.87311.65
Tax Paid -206.16-222.78-310.52-363.95-308.21-302.53-306.16-274.08-353.44-197.92
Cash Flow From Investing Activity + -320.57-367.58-3,173.53-7.96-310.22-437.86-3.59-701.89-1,015.59-621.42
Capex -176.73-105.22-269.12-211.84-106.59-111.93-79.83-189.20-415.73-222.94
Net Investments -202.72-332.28-2,979.27147.60-259.40-384.57-14.92-626.42-924.72-758.06
Others 58.8869.9374.8756.2855.7758.6491.16113.73324.86359.58
Cash Flow From Financing Activity + -297.18-636.642,286.48-1,032.76-1,029.74-809.12-1,082.33-202.58-284.25-284.39
Net Proceeds from Shares 2.701.861.841.170.840.830000
Net Proceeds from Borrowing -97.77-432.922,423.89-691.20-733.54-603.67-934.84-87.5200
Interest Paid -120.78-103.85-37.47-229.89-167.80-93.20-34.09-1.17-0.90-0.48
Dividend Paid -81.33-101.73-101.78-112.83-128.33-112.84-112.84-112.84-282.11-282.11
Others 00-0-0-0.90-0.23-0.56-1.05-1.25-1.81
Net Cash Flow -15.07-60.617.3347.5120.28-5.75-10.7561.88-127.4232.66

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)11.611.6113.9914.7117.8313.0512.2510.6713.157.67
ROCE (%)15.115.5415.7917.5217.5815.8315.2713.8516.869.61
Asset Turnover Ratio0.170.180.180.210.260.230.220.180.190.1
PAT to CFO Conversion(x)1.351.91.341.371.221.331.11.020.911.16
Working Capital Days
Receivable Days55.6048.1033.2032.3028.7028.4026.2028.3025.6041.20
Inventory Days41.9040.9032.3024.4019.6022.4028.8041.503876.90
Payable Days00000001,344978.300

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

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Announcements

Gujarat State Petronet Ltd. - (Amalgamation) FAQs

The current trading price of Guj. State Amalgamat on 11-May-2026 16:59 is ₹268.9.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 10-May-2026 the market cap of Guj. State Amalgamat stood at ₹15,174.5 Cr

The latest P/E ratio of Guj. State Amalgamat as of 10-May-2026 is 21.37.

The latest P/B ratio of Guj. State Amalgamat as of 10-May-2026 is 1.36.

The 52-week high of Guj. State Amalgamat is ₹347.7 and the 52-week low is ₹226.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Guj. State Amalgamat is ₹1,068 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Gujarat State Petronet Ltd. - (Amalgamation) is a good quality company.

The key valuation ratios of Gujarat State Petronet Ltd. - (Amalgamation)'s currently when compared to its past seem to suggest it is in the Fair zone.

No data found

About Gujarat State Petronet Ltd. - (Amalgamation)

Gujarat State Petronet Ltd. (GSPL), a GSPC Group company is a pioneer in developing energy transportation infrastructure and connecting natural gas supply sources including LNG terminals to growing markets. GSPL is continuously expanding its pipeline network currently in Gujarat to reach the demand centres by laying gas pipeline network.  GSPL was set up to complement the efforts of Gujarat State Petroleum Corporation (GSPC). The company has developed requisite expertise and confidence with proven project management competencies.  GSPL is first Pipeline Company in India operating on open access basis and is a pure transmission network.

GSPL is laying a gas grid, to facilitate gas transmission from supply points to demand centres. The gas grid is equipped with the latest bi-directional gas transmission technology to enable two-way gas flow. This introduces a lot of flexibility into transmission by allowing gas to be sourced or uploaded at either end of the pipeline network. Besides, the network is continuously monitored using SCADA systems integrated with GIS technology. Office Address of Gujarat State Petronet Limited is GSPL Bhavan, E-18, GIDC Electronics Estate, Nr.K-7 Circle, Sector -26 Gandhinagar-382 028, Gujarat, India.

Business area of company

Gujarat State Petronet Limited is a natural gas infrastructure and transmission company engaged in gas transportation business. The Company is engaged in transmission of natural gas through pipelines on an open access basis from supply points to demand centers. It also generates electricity through windmills. Its segments include Gas Transportation and Windmill.

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