Gujarat State Petronet LimitedGSPLCorporate

Utilities Utilities - Regulated Gas Latest results: Dec 2025 13 quarters of data

₹277.00

MCap ₹15,629 Cr · P/E 22.0

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₹272 Cr

Sales · Dec 2025

+4.5% YoY

₹166 Cr

Operating Profit · Dec 2025

-14.0% YoY

60.8%

OPM % · Dec 2025

-17.7% YoY

₹114 Cr

Net Profit · Dec 2025

-15.7% YoY

₹2.03

EPS · Dec 2025

-15.4% YoY

📝 Gujarat State Petronet Limited — results explained

Quarter ended December 2025 (Q3 FY26)

Gujarat State Petronet Limited reported revenue of ₹272 crore for the quarter ended December 2025 (Q3 FY26), up 4.5% from ₹260 crore in the same quarter last year, and down 0.7% sequentially over the September 2025 quarter.

Net profit fell 15.7% year-on-year to ₹114 crore, from ₹136 crore. Earnings per share (EPS) came in at ₹2.03.

Operating profit stood at ₹166 crore — an operating margin (OPM) of 60.8%, compared with 73.9% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Gujarat State Petronet Limited posted revenue of ₹830 crore, a decline of 25.3% over FY25, with a net profit of ₹639 crore (down 20.9% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹1,068 crore with a net profit of ₹710 crore.

Valuation snapshot

At the current price of ₹277.00, GSPL has a market capitalisation of ₹15,629 crore and a trailing P/E of about 22.0.

Within the Utilities - Regulated Gas industry, it is the 5th-largest of the 6 companies we track by market value.

Shareholding pattern

As of Mar 2026, promoters held 37.63%, foreign institutional investors (FIIs) 15.54%, domestic institutional investors (DIIs) 25.36%, the government 2.13%, public shareholders 19.35% of Gujarat State Petronet Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹15,629 Cr

Current Price ?

₹277.0

P/E ?

22.01above ind

Industry P/E ?

14.70

P/B ?

1.42

P/S ?

14.63

P/FCF ?

21.89

Enterprise Value ?

₹15,634 Cr

EV/EBITDA ?

23.48

PEG ?

N/A

Earnings Yield ?

2.9%

Dividend Yield ?

1.80%

Profitability & Returns

Sales (TTM) ?

₹1,068 Cr

OPM ?

62.3%

Profit after tax (TTM) ?

₹710 Cr

EPS (TTM) ?

₹12.58

ROCE ?

10.0%

ROE ?

6.4%

ROA ?

5.7%

Growth

Sales — latest qtr ?

₹272 Cr

PAT — latest qtr ?

₹114 Cr

YoY qtr sales growth ?

4.5%

YoY qtr profit growth ?

-15.7%

Sales growth (3y) ?

-18%

Sales growth (5y) ?

-14%

Profit growth (3y) ?

-7%

Profit growth (5y) ?

-6%

Financial Health

Debt ?

₹5 Cr

Debt to Equity ?

0.00

Interest Coverage ?

123.0

Current Ratio ?

N/A

Ownership

Promoter holding ?

37.63%

Change in promoter holding ?

0.00%

Pledged percentage ?

N/A

Market

Return 3 months ?

-11.6%

Return 6 months ?

-7.1%

🗓️ Quarterly results (13 quarters · ₹ Cr)

same fiscal quarter as Dec bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	YoY %	QoQ %
Sales	402	443	441	529	554	507	354	258	260	238	284	274	272	+4.5%	-0.7%
Operating Profit	270	295	336	410	380	378	301	193	193	125	202	173	166	-14.0%	-4.4%
Other Income	13	48	18	266	21	30	33	294	41	36	43	306	43	+5.0%	-85.9%
Interest	1	1	1	1	1	2	1	1	1	5	1	1	1	+10.9%	-1.1%
Depreciation	49	48	47	48	49	49	49	51	51	52	54	55	55	+7.2%	+0.4%
Profit Before Tax	233	293	307	628	351	357	284	435	182	104	191	424	153	-15.8%	-63.9%
Net Profit	171	224	229	532	262	261	212	389	136	71	142	382	114	-15.7%	-70.1%
EPS	3.03	3.98	4.06	9.43	4.65	4.63	3.76	6.90	2.40	1.25	2.53	6.77	2.03	-15.4%	-70.0%
OPM %	67.1%	66.5%	76.3%	77.5%	68.5%	74.6%	84.9%	74.8%	73.9%	52.4%	71.3%	63.2%	60.8%	-17.7%	-3.8%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹1,111 Cr	₹830 Cr	₹1,068 Cr	-25.3%
Operating Profit	₹811 Cr	₹541 Cr	₹666 Cr	-33.3%
OPM %	73.03%	65.19%	62.34%	-10.7%
NPM %	72.71%	77.00%	66.46%	+5.9%
Other Income	₹404 Cr	₹393 Cr	₹429 Cr	-2.9%
Depreciation	₹204 Cr	₹163 Cr	₹216 Cr	-19.7%
Interest	₹8 Cr	₹3 Cr	₹8 Cr	-63.8%
EBIT	₹608 Cr	₹378 Cr	₹450 Cr	-37.8%
PBT	₹1,003 Cr	₹767 Cr	₹871 Cr	-23.5%
Tax	₹196 Cr	₹128 Cr	₹161 Cr	-34.6%
Net Profit	₹808 Cr	₹639 Cr	₹710 Cr	-20.9%
EPS	₹14.31	₹11.33	₹12.58	-20.8%
Material Cost	—	—	—	—
Employee Cost	₹87 Cr	₹61 Cr	₹89 Cr	-29.2%
Extraordinary Items	—	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Sep 2025	% Chg
Equity Capital	564	564	564	564	+0.0%
Reserves	8,709	9,706	10,219	10,462	+2.4%
Borrowings	8	8	6	5	-16.7%
Other Liabilities	807	802	1,204	1,419	+17.9%
Total Liabilities	10,088	11,081	11,992	12,450	+3.8%
Fixed Assets	3,155	3,035	3,565	3,465	-2.8%
CWIP	426	762	282	302	+7.1%
Investments	5,170	5,330	5,339	5,381	+0.8%
Other Assets	1,337	1,954	2,807	3,303	+17.7%
Total Assets	10,088	11,081	11,992	12,450	+3.8%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	% Chg
Cash from Operating Activity	1,075	966	1,172	938	-20.0%
Cash from Investing Activity	-4	-702	-1,016	-621	+38.9%
Cash from Financing Activity	-1,082	-203	-284	-284	+0.0%
Net Cash Flow	-11	62	-127	33	+126.0%
Free Cash Flow	995	768	756	714	-5.6%
CFO/OP	99%	99%	101%	140%	+38.6%

➗ Ratios (latest 4 periods)

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	% Chg
Debtor Days	23	30	25	36	+44.0%
Cash Conversion Cycle	23	30	25	36	+44.0%
Working Capital Days	-0	51	196	36	-81.6%
ROCE %	15%	14%	17%	10%	-41.2%

👥 Shareholding (latest 4 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	% Chg
Promoters	37.63%	37.63%	37.63%	37.63%	+0.0%
FIIs	15.11%	15.47%	15.49%	15.54%	+0.3%
DIIs	25.70%	25.21%	25.08%	25.36%	+1.1%
Government	2.01%	2.01%	2.13%	2.13%	+0.0%
Public	19.55%	19.68%	19.68%	19.35%	-1.7%
No. of Shareholders	1,99,501	1,95,924	1,89,852	1,84,832	-2.6%

⚖️ Peer comparison

Industry: Utilities - Regulated Gas · 6 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	GAIL GAIL (India)	₹173.62	114,157	11.6	147,485	9,870	10.1%	6.7%	-0.3%	-39.2%	16.7%	96.1%
2	ATGL Adani Total	₹595.45	65,488	103.6	6,679	632	17.5%	9.5%	15.9%	0.1%	27.3%	-14.2%
3	GUJGASLTD Gujarat Gas	₹327.05	30,685	21.9	17,701	1,026	11.4%	5.8%	3.0%	-10.6%	35.0%	-47.2%
4	IGL Indraprastha Gas	₹151.75	21,245	15.6	18,141	1,354	9.0%	7.5%	5.8%	-6.5%	16.6%	-44.4%
5	GSPL Gujarat State	₹277.00	15,629	14.9	16,696	1,585	15.1%	9.5%	-29.9%	-24.7%	-6.2%	13.1%
6	STEAMHOUSE Steamhouse India	₹128.50	—	—	—	—	—	—	—	—	13.8%	83.4%

❓ Frequently asked questions

What was Gujarat State Petronet Limited's revenue in Q3 FY26?

What was Gujarat State Petronet Limited's net profit in Q3 FY26?