MarketFriction

Gujarat State Petronet Ltd

NSE GSPL · BSE 532702 · Gas Transmission/Marketing
₹268.35 -7.13%
NSE close2026-05-11
Market cap₹15,141 Cr.
P/E14.4
No trades in 30 days Delivery 68.6%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales4,2704,1084,2654,3894,5324,7273,9924,3604,2914,1074,0083,885
Expenses3,4333,3943,3513,6083,5703,9053,3043,8083,7233,3893,3993,273
Operating Profit837715914781962822688553567718609612
OPM %20%17%21%18%21%17%17%13%13%17%15%16%
Other Income4540555611469769610910111496
Interest681488881011889
Depreciation157161165168169171179179179184188189
Profit before tax719586789661899712577460486626527510
Tax %24%26%25%25%26%26%27%27%27%26%26%26%
Net Profit543434590496663527423335352465389379
EPS in Rs6.615.948.067.008.426.654.994.153.905.584.624.55
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales1,0659925,9017,2619,34512,24411,53517,99118,11717,29517,37016,290
Expenses1361264,2605,2176,8059,0277,96114,49114,43713,88714,72013,784
Operating Profit9288661,6422,0442,5403,2173,5743,5003,6803,4072,6502,506
OPM %87%87%28%28%27%26%31%19%20%20%15%15%
Other Income4294118122135108130148136248350419
Interest1188027824242736922711270565737
Depreciation189183436447468518542579621664709740
Profit before tax6646971,0461,4771,7802,4382,9362,9573,1252,9352,2342,149
Tax %38%33%31%35%33%7%25%25%25%26%27%
Net Profit4884657189581,1902,2792,1922,2312,3422,1841,6371,585
EPS in Rs8.648.269.8413.1517.7130.6528.4829.0429.0929.4119.6918.65
Dividend Payout %14%18%15%13%11%7%7%7%17%17%25%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth32%7%-1%-8%
Compounded Profit Growth8%-8%-12%-21%
Stock Price CAGR6%-3%-2%-13%
Return on Equity20%18%15%10%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital563563564564564564564564564564564564
Reserves3,2173,4233,9621,8652,7314,3205,8277,3558,88510,26111,08211,377
Borrowings1,1571,0672,9895,3864,5793,6292,003713149140138140
Other Liabilities9317854,2934,1484,5874,8375,7756,6627,7188,0919,0239,843
Total Liabilities5,8685,83811,80811,96312,46113,35014,16915,29417,31619,05620,80721,923
Fixed Assets3,1693,1238,0698,2088,8979,2569,4979,94610,48110,77911,69511,636
CWIP9497681,1921,3749088079531,2451,4091,6801,1211,134
Investments6337234695906961,0231,4571,6701,6211,8891,7921,772
Other Assets1,1171,2242,0791,7901,9602,2642,2622,4333,8054,7086,1987,381
Total Assets5,8685,83811,80811,96312,46113,35014,16915,29417,31619,05620,80721,923
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity6446266031,6441,6692,0442,7712,8972,7483,3402,8032,741
Cash from Investing Activity-708-201-321-835-3,593-612-806-1,080-1,359-1,815-2,142-2,754
Cash from Financing Activity-338-438-297-8792,013-1,382-1,494-2,096-1,659-805-547-544
Net Cash Flow-402-13-15-708950471-279-271720114-556
Free Cash Flow2823264261,0599241,2902,0682,0411,4562,0621,5501,765
CFO/OP92%91%93%117%102%95%104%101%100%111%102%123%
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days865256282527203021232424
Inventory Days
Days Payable
Cash Conversion Cycle865256282527203021232424
Working Capital Days-91-84-57-61-113-75-61-55-23-25-9-5
ROCE %17%16%15%19%20%25%30%31%28%27%21%15%
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters37.63%37.63%37.63%37.63%37.63%37.63%37.63%37.63%37.63%37.63%37.63%37.63%
FIIs16.55%16.00%16.03%15.67%15.84%15.21%14.67%14.75%15.11%15.47%15.49%15.54%
DIIs25.20%25.17%24.77%24.74%23.57%24.87%25.80%25.79%25.70%25.21%25.08%25.36%
Government2.01%2.01%2.01%2.01%2.01%10.00%2.02%2.01%2.01%2.01%2.13%2.13%
Public18.62%19.19%19.56%19.95%20.95%12.29%19.89%19.82%19.55%19.68%19.68%19.35%
No. of Shareholders1,59,4011,68,2961,73,7631,80,7652,39,9482,18,8032,07,3552,08,4461,99,5011,95,9241,89,8521,84,832

Fundamentals

Market Cap₹ 15,141 Cr.
Current Price₹ 268
Stock P/E14.4
Book Value₹ 212
ROCE15.2 %
ROE9.89 %
Dividend Yield1.86 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-8%
Compounded Profit Growth (TTM)-21%
Consolidated figures.
Valuation
Market capRs 15,141 Cr
Enterprise valueRs 12,989 Cr
P/E (TTM)14.39x
Price to book1.30x
Price to sales0.93x
EV / EBITDA4.44x
EV / EBIT5.94x
EV / sales0.80x
Price to cash flow5.52x
Earnings yield6.95%
Dividend yield1.86%
P/E, 3-year average12.01x
P/B, 3-year average1.62x
P/E, 5-year average10.91x
P/B, 5-year average1.82x
Profitability
Operating margin (excl. other income)15.26%
Operating margin (incl. other income)17.27%
EBITDA margin17.96%
Pre-tax margin13.19%
Net profit margin6.46%
Net margin, latest quarter6.61%
ROE9.89%
ROCE20.14%
ROA5.57%
ROE, 3-year average15.05%
ROCE, 3-year average28.10%
ROA, 3-year average8.26%
ROE, 5-year average19.31%
ROCE, 5-year average31.55%
ROA, 5-year average9.51%
ROIC (approx.)16.87%
Tax rate26.71%
Other income / net worth3.01%
Growth
Sales growth (latest year)0.44%
Profit growth (latest year)-33.05%
Sales CAGR, 3 years-1.16%
Sales CAGR, 5 years7.25%
Profit CAGR, 3 years-12.14%
Profit CAGR, 5 years-8.47%
Sales growth QoQ-3.07%
Profit growth QoQ-1.54%
Sales growth YoY (latest quarter)-10.90%
Profit growth YoY (latest quarter)9.66%
Per share
EPS (TTM)Rs 18.65
EPS (latest year)Rs 19.69
EPS (latest quarter)Rs 4.55
EPS, 3-year averageRs 26.07
EPS, 5-year averageRs 27.14
Book value per shareRs 206.41
Sales per shareRs 288.73
Cash flow per shareRs 48.58
Free cash flow per shareRs 31.28
Dividend per share (latest year)Rs 5.00
Dividend per share, 3-year averageRs 5.00
Dividend per share, 5-year averageRs 3.80
Dividends
Dividend payout25.39%
Dividend payout, 3-year average19.86%
Dividend payout, 5-year average14.70%
Efficiency
Asset turnover0.83x
Fixed asset turnover1.49x
Inventory turnover43.92x
Inventory days8 days
Debtor days23 days
Debtors turnover15.53x
Cash conversion cycle24 days
Working capital days-5 days
Leverage
Total debtRs 138 Cr
Cash and bankRs 2,290 Cr
Net debtRs -2,152 Cr
Debt to equity0.01x
Net debt / EBITDA-0.74x
Interest coverage59.24x
Owners' fund to total sources55.97%
Debt to assets0.66%
Cash flow
Cash from Operating Activity (latest year)Rs 2,741 Cr
Cash from Investing Activity (latest year)Rs -2,754 Cr
Cash from Financing Activity (latest year)Rs -544 Cr
Net Cash Flow (latest year)Rs -556 Cr
Free cash flow (latest year)Rs 1,765 Cr
FCFE (approx.: FCF + change in debt)Rs 1,764 Cr
Cash from ops / profit, 5 years1.37x
Sales to cash flow6.34x
Statement figures
Net sales (TTM)Rs 16,290 Cr
Net sales (latest year)Rs 17,370 Cr
Sales (latest quarter)Rs 3,885 Cr
Operating profit excl. other income (latest year)Rs 2,650 Cr
Operating profit (latest quarter)Rs 612 Cr
Other income (TTM)Rs 419 Cr
EBITDA (TTM)Rs 2,926 Cr
PBDT (TTM)Rs 2,889 Cr
Profit before tax (TTM)Rs 2,149 Cr
Tax (latest year)Rs 597 Cr
Net profit (TTM)Rs 1,052 Cr
Net profit (latest year)Rs 1,111 Cr
Net profit (latest quarter)Rs 257 Cr
Depreciation (TTM)Rs 740 Cr
Depreciation (latest quarter)Rs 189 Cr
Interest (TTM)Rs 37 Cr
Cost of goods sold (latest year)Rs 14,007 Cr
Total expenditure (latest year)Rs 14,720 Cr
Total income (latest year)Rs 17,720 Cr
Share capitalRs 564 Cr
ReservesRs 11,082 Cr
Shareholders' fundsRs 11,646 Cr
Total assetsRs 20,807 Cr
Net blockRs 11,695 Cr
Capital work in progressRs 1,121 Cr
InvestmentsRs 1,792 Cr
ReceivablesRs 1,118 Cr
InventoryRs 319 Cr
Other liabilitiesRs 9,023 Cr
Shares outstanding (crore)56.42
Ownership
Promoter holding37.63% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 14.4 is at the 67th percentile of its own 9.7-year range (median 12.3, low 6.3, high 23.1).
P/B 1.30 is at the 1th percentile (median 2.29).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodGSPLNifty 50Difference
1 week-7.4%-2.8% -4.7 pts
1 month+11.2%-6.8% +18.0 pts
3 months-10.8%-7.6% -3.2 pts
6 months-13.3%+0.4% -13.7 pts
1 year-15.9%-9.9% -6.0 pts
2 years-10.1%-13.6% +3.5 pts
3 years-6.5%+14.2% -20.7 pts
5 years-1.1%+27.9% -29.0 pts

Red flags

F-score 5 of 8
No red flags in the latest statements and filings.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Dec 2025
Sales ₹3,885 Cr -10.9% vs Dec 2024. Net profit ₹379 Cr +13.1%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2025-09-10Dividend - Rs 5 Per Share
2024-09-06Dividend - Rs 5 Per Share
2023-09-01Dividend - Rs 5 Per Share
2022-09-01Dividend - Rs 2 Per Share
2021-09-08 Dividend - Rs 2 Per Sh
2020-09-09 Dividend - Rs 2 Per Share
2019-09-12 Annual General Meeting/Dividend - Rs 2 Per Share
2018-09-19 Annual General Meeting/Dividend- Rs 1.75 Per Share
2017-09-20 Annual General Meeting/Dividend - Rs 1.50 Per Share
2016-09-14 Annual General Meeting/Dividend - Rs 1.50 Per Share
2015-09-15 Annual General Meeting/ Dividend - Rs 1.20/- Per Share
2014-09-18Annual General Meeting / Dividend - Re 1/- Per Share
2013-09-19Annual General Meeting And Dividend Re.1/- Per Share
2012-09-13Annual General Meeting And Dividend Re.1/- Per Share
2011-09-15Dividend-Re.1/- Per Share
2010-09-13Annual General Meeting And Dividend Re.1/- Per Share
2009-11-26Dividend-Re.0.75 Pr Share
2008-09-15Agm/Dividend - 5%
2007-09-10Agm/Dividend-5%
2006-09-15Agm/Dividend-2.5%
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Gujarat State Petronet Ltd?

Gujarat State Petronet Ltd (GSPL) has a market capitalisation of Rs 15,141 Cr. at the 2026-05-11 close.

What is the P/E ratio of Gujarat State Petronet Ltd?

Gujarat State Petronet Ltd trades at a P/E of 14.4 on trailing twelve-month profit, at the 2026-05-11 close.

What were Gujarat State Petronet Ltd's latest quarterly results?

In the Dec 2025 quarter, Gujarat State Petronet Ltd sales was Rs 3,885 Cr (-10.9% vs Dec 2024) and net profit was Rs 379 Cr.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03