Gujarat State Petronet Limited (GSPL) has been fined a total of ₹1,06,200 (₹53,100 each by BSE and NSE) for non-compliance with SEBI LODR Regulation 17(1) regarding Board composition during the quarter ended December 31, 2025. The Board of Directors reviewed the notices on March 11, 2026, and has advised the company to file for a waiver of these fines. The fine was calculated based on a 9-day delay at a rate of ₹5,000 per day plus GST. While the financial impact is immaterial, the notice highlights a temporary lapse in corporate governance requirements.

• BSE and NSE imposed fines of ₹53,100 each, totaling ₹1,06,200 including 18% GST.
• The penalty pertains to non-compliance with Board composition requirements under Regulation 17(1) for Q3 FY26.
• The fine was based on 9 days of non-compliance at a rate of ₹5,000 per day.
• The Board has officially recorded the notices and directed the management to apply for a waiver.
• A non-refundable processing fee of ₹10,000 plus GST is required for the waiver application.

Gujarat State Petronet Limited (GSPL) has informed the stock exchanges regarding the closure of its trading window for dealing in the company's equity shares. The closure period is scheduled from March 8, 2026, to March 14, 2026, covering a total of 7 days. This measure is a standard compliance requirement under the SEBI (Prohibition of Insider Trading) Regulations, 2015. The restriction applies specifically to designated persons and their immediate relatives as defined by the company's internal code of conduct.

• Trading window closed from Sunday, March 8, 2026, to Saturday, March 14, 2026
• Compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015
• Applicable to all designated persons and their immediate relatives
• Notification issued to both BSE and National Stock Exchange of India Ltd

Gujarat State Petronet Limited (GSPL) has been fined a total of ₹1,06,200 (including GST) by BSE and NSE for non-compliance with SEBI Regulation 17(1) regarding Board composition during the December 2025 quarter. The issue arose following the resignation of an Independent Director in October 2025, which the company argues was unforeseen. GSPL, a government-controlled entity, intends to seek a waiver, noting that director appointments are managed by the Government of Gujarat. The company stated that this development has no material impact on its financial or operational performance.

• BSE and NSE each imposed a basic fine of ₹45,000 plus 18% GST (₹8,100) for the quarter ended December 2025.
• The fine pertains to non-compliance with SEBI LODR Regulation 17(1) regarding the required number of Independent Directors.
• A vacancy was created on October 15, 2025, due to the resignation of Independent Director Shri Tapan Ray.
• GSPL is seeking a waiver under SEBI's Standard Operating Procedure, citing its status as a Government Company where the state appoints directors.

Gujarat State Petronet Limited (GSPL) has received a notice from BSE imposing a fine of ₹45,000 plus GST for non-compliance with Board composition requirements during the quarter ended December 2025. The issue stems from a vacancy in the Independent Director position following the resignation of Shri Tapan Ray on October 1, 2025. GSPL, a Government Company, argues that director appointments are managed by the Government of Gujarat and that they are within the three-month grace period allowed under SEBI regulations. The company is currently seeking a waiver of this fine from the exchange.

• BSE imposed a basic fine of ₹45,000 plus ₹8,100 GST for non-compliance with Regulation 17(1) of SEBI LODR.
• The non-compliance pertains to the composition of the Board of Directors during the quarter ended December 2025.
• GSPL cites that as a Government Company, the power to appoint directors rests with the Energy & Petrochemicals Department, Government of Gujarat.
• The company claims it is eligible for a waiver as the vacancy arose on October 1, 2025, and regulations allow 3 months to fill such positions.
• The financial impact of the fine is negligible relative to the company's size and operations.

Gujarat State Petronet Limited (GSPL) has been notified by BSE regarding a fine of ₹45,000 plus GST for non-compliance with SEBI Regulation 17(1) concerning board composition during the December 2025 quarter. The company explained that the vacancy arose unexpectedly on October 15, 2025, following the resignation of an independent director. GSPL, a government-controlled entity, argues that it is entitled to a three-month window to fill such vacancies under Regulation 17(1E). The company is currently seeking a waiver of the fine, noting that director appointments are mandated by the Government of Gujarat.

• BSE imposed a basic fine of ₹45,000 and GST of ₹8,100 for non-compliance with board composition norms.
• The vacancy was triggered by the resignation of Independent Director Shri Tapan Ray on October 15, 2025.
• GSPL maintains it is within the 3-month grace period allowed under SEBI Regulation 17(1E) to fill the vacancy.
• As a PSU, director appointments are handled by the Energy & Petrochemicals Department, Government of Gujarat.
• The company is formally applying for a waiver of the penalty based on SEBI's Standard Operating Procedure circulars.

Gujarat State Petronet Limited (GSPL) has been assigned an ESG rating of "65 Aspiring" by NSE Sustainability Ratings & Analytics Ltd. This rating evaluates the company's performance across Environmental, Social, and Governance parameters. The assessment was conducted independently by the rating agency using publicly available information, without direct engagement from GSPL. This score provides a baseline for institutional investors who incorporate sustainability metrics into their investment frameworks.

• Assigned an ESG rating of "65" with the status of "Aspiring".
• Rating issued by NSE Sustainability Ratings & Analytics Ltd independently.
• Evaluation was based solely on publicly available data without company engagement.
• The disclosure was officially recorded on February 21, 2026.

Gujarat State Petronet Limited (GSPL) has appointed Shri Sandeep Kumar, IAS, as an Additional Director effective January 28, 2026. Shri Kumar is a senior administrative officer with over 20 years of experience and currently serves as Secretary (Economic Affairs) in the Finance Department of the Government of Gujarat. His background includes significant leadership roles in the energy and power sectors, which is highly relevant to GSPL's business. This appointment is a nomination by the promoter, Gujarat State Petroleum Corporation Limited (GSPC).

• Shri Sandeep Kumar, IAS, appointed as Additional Director effective January 28, 2026
• Appointee has over 20 years of experience in public administration and the energy sector
• Currently holds the position of Secretary (Economic Affairs) in the Finance Department of Gujarat
• Appointment follows a nomination by the promoter entity, Gujarat State Petroleum Corporation Limited

Gujarat State Petronet Limited (GSPL) has submitted a revised Composite Scheme of Amalgamation and Arrangement to the Ministry of Corporate Affairs (MCA). The revisions address technical observations regarding the reallocation of authorized share capital from Gujarat Gas Limited (GGL) to the resulting company, GSPL Transmission Limited (GTL). The overall scheme involves merging GSPC, GSPL, and GEL into GGL, followed by a demerger of the gas transmission business. The company maintains that these changes are technical and do not affect shareholder entitlements or the material essence of the restructuring.

• Revised Clauses 60 and 63 of the scheme to comply with MCA directions regarding authorized share capital reallocation
• Scheme involves merging GSPL (which holds 54.17% of GGL) and GSPC into Gujarat Gas Limited
• Gas Transmission Business will be demerged from GGL into a new entity, GSPL Transmission Limited (GTL)
• Management confirms revisions are technical in nature with no impact on the rights of public shareholders
• Restructuring aims to simplify the GSPC Group's layered holding structure and unlock stakeholder value

GSPL reported a mixed performance for Q3 FY26, with consolidated net profit growing 13% YoY to ₹379 crore despite a 10% decline in revenue. Standalone performance was significantly impacted by the PNGRB tariff revision, which slashed levelized tariffs from ₹34 to ₹18.10 per MMBTU, leading to a 15.7% YoY drop in standalone PAT to ₹114.3 crore. The company is progressing with its major corporate restructuring involving the merger of GSPC and GSPL into Gujarat Gas, followed by a demerger of the transmission business, which has already received shareholder approval.

• Consolidated Revenue from Operations decreased 9.8% YoY to ₹4,091.7 crore.
• Consolidated Net Profit (PAT) increased 13% YoY to ₹379 crore from ₹335.4 crore.
• Standalone Net Profit fell 15.7% YoY to ₹114.3 crore due to lower PNGRB transmission tariffs.
• Standalone Gas Transmission Expenses surged to ₹53.4 crore from ₹24.3 crore in the year-ago quarter.
• The composite scheme of amalgamation and demerger was approved by shareholders on October 17, 2025, and awaits MCA sanction.

Gujarat State Petronet Limited (GSPL) has filed its quarterly compliance certificate for the period ending December 31, 2025. The certificate, issued by KFin Technologies, confirms adherence to Regulation 74(5) of SEBI (Depositories and Participants) Regulations. It verifies that dematerialization requests were processed and security certificates were cancelled within the required 15-day window. This is a standard administrative filing required for all listed entities to maintain regulatory transparency.

• Compliance confirmed for the quarter ended December 31, 2025
• KFin Technologies Limited confirmed processing demat requests within 15 days
• Certificates were mutilated and cancelled after due verification
• Depositories substituted in the register of members for approved requests

Gujarat State Petronet Limited (GSPL) has appointed Smt. Avantika Singh Aulakh, a 2003 batch IAS officer, as its new Joint Managing Director effective December 24, 2025. She brings over 20 years of administrative experience, including roles as Additional Principal Secretary to the Gujarat Chief Minister and CEO of the Gujarat Maritime Board. Her appointment follows a nomination by the parent entity, Gujarat State Petroleum Corporation Limited. Given her extensive background in infrastructure and energy, her leadership is expected to provide strong administrative oversight to the company.

• Smt. Avantika Singh Aulakh appointed as Joint Managing Director effective December 24, 2025
• She is a 2003 batch IAS officer with an MPA from Harvard University's John F. Kennedy School of Government
• Previously served in high-level roles including Additional Principal Secretary to the CM of Gujarat and MD of Gujarat Rail Infrastructure Development Corporation
• Currently holds directorial positions in other group entities including Gujarat Gas Limited and GSPC LNG Limited

Gujarat State Petronet Limited (GSPL) has announced the resignation of Ms. Arti Kanwar, IAS, from its Board of Directors effective December 29, 2025. This change is a result of her administrative transfer and appointment as the Chief Commissioner of State Tax, Ahmedabad, by the Government of Gujarat. As GSPL is a state-promoted entity, such rotations of IAS officers on the board are routine administrative procedures. The company and the director have confirmed there are no material reasons for the resignation other than the government transfer.

• Ms. Arti Kanwar, IAS (DIN: 03535973), resigned as Non-Executive Director effective December 29, 2025.
• The resignation follows her appointment as Chief Commissioner of State Tax, Ahmedabad, per a government notification dated December 23, 2025.
• The director confirmed in her resignation letter that there are no material reasons for her exit other than the administrative transfer.
• GSPL is a state-run entity where board compositions frequently change based on government administrative shifts.

Gujarat State Petronet Limited (GSPL) has announced the resignation of Mr. Milind Torawane, IAS, from his position as Joint Managing Director effective December 24, 2025. This departure is due to his transfer and appointment as Principal Secretary to the Government of Gujarat's Education Department. As GSPL is a state-controlled entity, such leadership changes are routine administrative procedures involving IAS officers. The resignation also extends to his roles in several group companies, including Gujarat Gas and Petronet LNG.

• Resignation of Shri Milind Torawane, IAS, as Joint Managing Director effective December 24, 2025.
• Departure triggered by government transfer to the Education Department (Primary & Secondary Education).
• Mr. Torawane also resigned from 9 other group entities including Gujarat Gas and Petronet LNG.
• The change is a standard administrative movement for a Public Sector Undertaking (PSU) official.