Gujarat State Petronet Ltd
Gujarat State Petronet Ltd (GSPL)

Gujarat State Petronet Ltd (GSPL)

₹236.452.51%

Key Stats

₹231.1
Day's Price Range
₹240
₹209.45
52-Week Price Range
₹379.2
1 Month Return1.89 %
3 Month Return-11.14 %
1 Year Return-31.82 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 2
8.13
EPS
Rank 2
₹29.04
BVPS
Rank 10
₹113.27
Dividend Yield
Rank 8
0.73%
ROE
Rank 9
12.96%
Price To Book Ratio
Rank 15
2.08
Debt To Asset
Rank 23
0.55

Company Information

Gujarat State Petronet Limited GSPL a Gujarat State Petroleum Corporation Limited GSPCs subsidiary has taken a lead in developing energy transportation infrastructure in Gujarat and connecting major natural gas supply sources and demand markets. GSPL is first company in India to transport natural gas on open access basis and is a Pure Natural Gas Transmission Company. The transmission network of the company envisages development of systematic and seamless pipeline network across Gujarat connecting various suppliers and users. The suppliers of natural gas include traders producers and LNG terminals. The users comprise industries such as power fertilizer steel chemical plants and local distribution companies.The Company was incorporated in 23rd December of the year 1998 and obtained its certificate of commencement of business in 7th April of the year1999.GSPL commenced transporting natural gas following completion of the first segment of network in November of the year 2000. The Company commissioned the HaziraMora pipeline the grid was 14 kms long acquired this pipeline from GSPC in exchange for issue of shares of company to GSPC. During the year 200102 the company commissioned 45 kms of the AmboliDahej pipeline and the total grid length increased to 59 kms. In 200203 GSPL commissioned 66 kms of grid pipeline which included MoraUtran CairnMora and BhadhutPaguthan pipelines and GNFC Videocon and Mora Kribhco spur lines. The total grid length increased to 125 kms. Again a year after in line with the company commissioned the PaguthanBaroda pipeline during the period of 200304. As a result the total grid length increased to 209 kms. During the year 200405 the BarodaAhmedabadKalol pipeline the GACLPetronet pipeline the MoraSajod pipeline and the KalolSantej pipeline was started and extending the network by an additional 224 kms. The total gas transmission network length was increased to 433 kms. The company awarded EPC contract for MoraVapi in the same year 200405. Also in the identical year GSPL completed the Gandhinagar spur line which was 15.5 kms in length. The total network length increased to 448.5 kms. The Company had bespoke the Mora gas terminal in the year 200506 and in the same year the EPC and engineering contracts for AnandRajkot KalolHimmatnagar Kalol Mehasana and AnklavDhuvaran pipelines are came to companys hands. The Companys operation and maintenance systems and procedures were certified by Del Norske Veritas as being in conformity with the ISO 9001:2000 quality management system standard. During the year 200607 the company commissioned the AnandRajkot KalolHimmatnagar Kalol Mehasana and AnklavDhuvaran pipelines. GSPL had signed an agreement with Reliance Industries Ltd RIL in the year 2006 for transportation of 11 mmscmd Gas from Bharuch to Jamnagar for a period of 15 years starting from the first quarter of 20082009.On 9 October 2007 Gujarat State Petronet Ltd GSPL informed the stock exchanges that the Board of Directors of the company pursuant to the resolution passed by the circulation has approved allotment of 1.87 crore equity shares at a price of Rs 57.29 per equity share to International Finance Corporation IFC Washington DC under the Preferential Issue of the company.On 20 May 2011 Gujarat State Petronet Ltd GSPL informed the stock exchanges that pursuant to Section 2052c of the Companies Act 1956 the company has obtained the permission of Ministry of Corporate Affairs for providing depreciation of 3.17 per annum on Pipelines based on useful life of 30 years to write off the extent of 95 as against the present depreciation being charged of 4.75 per annum on SLM method as per Schedule XIV to the Companies Act with effect from 1 April 2010.On 8 July 2011 Gujarat State Petronet Ltd GSPL announced that GSPL led consortium has been awarded the Letters of Authorisation dated 7 July 2011 by Petroleum and Natural Gas Regulatory Board for developing three Cross Country Natural Gas Transmission Pipelines namely: Mallavaram Bhilwara 1585 Kms pipeline Mehsana Bhatinda 1670 Kms pipeline and BhatindaJammuSrinagar 740 Kms pipeline. Earlier GSPL with 52 stake in consortium with IOCL 26 BPCL 11 HPCL 11 had participated in the aforesaid three bids where in the bid submitted by the said consortium has emerged as the most favorable bid in all the three Pipeline Projects. The route map of these three Natural Gas Transmission Pipelines cover the states like Andhra Pradesh Madhya Pradesh Maharashtra Haryana Punjab Rajasthan and Jammu on its network for transmission of gas to various districts and area of these states of India. The total Investment in the Project shall be approx Rs 12500 crore. The said three projects shall be required to be completed within a period of 36 months from the date of award of the letter of authorization to GSPL led Consortium.On 30 April 2012 Gujarat State Petronet Limited GSPL Indian Oil Corporation Limited Bharat petroleum Corporation Limited and Hindustan Petroleum Corporation Limited executed the joint venture agreement for developing three cross country natural gas transmission pipelines viz. Mallavaram Bhilwara pipeline Mehsana Bhatinda pipeline and Bhatinda Jammu Srinagar pipeline. On 29 June 2012 Gujarat State Petronet Limited GSPL announced that GSPL led Joint Venture Company namely GSPL India Transco Limited has entered into an agreement on 29 June 2012 for syndicate loan of Rs 5080 crore with a consortium of 14 banks for its upcoming Mallavaram Bhopal Bhilwara Vijaipur Pipeline Project. Further another Joint Venture Company of GSPL namely GSPL India Gasnet Limited had entered into an agreement for Syndicate loan of Rs 4516 crore with a consortium of 12 banks for its Mehsana Bhatinda Jammu Srinagar Pipeline Project. With this GSPL led Joint Venture Companies have achieved Financial Closure for the three Cross Country Pipeline Projects. The total investment for these three Projects would be Rs 13704 crore out of which 70 fund will be arranged through debt syndication of Rs 9596 crores and the rest 30 will be raised through equity infusion of Rs 4108 crore by the JV partners viz Gujarat State Petronet Limited 52 Indian Oil Corporation Limited 26 Bharat petroleum Corporation Limited 11 and Hindustan Petroleum Corporation Limited 11.On 8 January 2013 Gujarat State Petronet Limited GSPL announced that the company has booked a capacity of 1 Million Tonne Per Annum MTPA of natural gas regasification with Petronet LNG Limited PLL at its Dahej terminal Gujarat for a period of 20 years starting from 2016 on firm basis. Agreements to this effect have been signed by the company and PLL on 5 January 2013.On 18 May 2015 Gujarat State Petronet Limited GSPL announced that Petroleum and Natural Gas Regulatory Board has issued vide its letter dated 5 May 2015 the Grant of Authorisation to GSPL for developing City Gas Distribution CGD Network in the Geographical Area of Amritsar District Punjab and the same was accepted by GSPL on 15 May 2015. The Authorized Area for laying building operating or expanding proposed CGD Network shall cover a geographical area of 2648 square Kms.In May 2016 PNGRB granted authorization to GSPL for developing City Gas Distribution CGD Network in the Geographical Area of Bhatinda District Punjab. The Authorized Area for laying building operating or expanding proposed CGD Network shall cover a geographical area of 3357 square kms.During financial year ended 31 March 2016 GSPL successfully completed commissioning of Anjar Bhuj pipeline Halol Dahod pipeline and various customer connectivity projects namely Parle Connectivity Ineos Connectivity Rochling Connectivity. During the year GSPL acquired additional shares of Sabarmati Gas Limited and after the acquisition of additional shares the total shareholding of GSPL in Sabarmati Gas Limited stood at 27.47 as on 31 March 2016. Sabarmati Gas Limited is engaged in the business of development of City Gas Distribution networks in Gandhinagar Sabarkantha and Mehsana districts of North Gujarat. On 17 October 2017 Shareholders and Share Subscription Agreement was signed among SWAN LNG Pvt. Ltd. SLPL and the Shareholders of SWAN LNG Pvt. Ltd. SLPL i.e SWAN Energy Limited 63 equity holding Gujarat Maritime Board 15 equity holding Gujarat State Petronet Limited 11 equity holding and FSRU Venture India One Private Limited an affiliate of Mitsui OSK Lines Japan 11 equity holding for development of Floating Storage and Regassification Unit FSRU based LNG Port with a regassification capacity of 5 MMTPA of LNG at Jafrabad in Amreli District Gujarat by SLPL.On 6 February 2018 GSPL announced that it has been allotted 8730 equity shares in Swan LNG Pvt. Ltd. SLPL on 6 February 2018 equivalent to 11 stake in SLPL.On 28 March 2018 GSPL announced that the company has further acquired/purchased 1.44 crore shares of Gujarat Gas Limited GGL i.e. 10.49 of the fully paidup equity share capital of GGL from GSPC by way of an interse promoter transfer through a block deal on 28 March 2018 at a price of Rs 836.25 per share. After the acquisition GSPL holds 54.16 stake in GGL and accordingly GGL has become subsidiary of GSPL. Earlier the Board of Directors of GSPL at its meeting held on 19 March 2018 considered and approved the acquisition of upto 3.91 crore equity shares of Gujarat Gas Limited i.e. upto 28.40 of the paidup equity share capital of Gujarat Gas Limited from Gujarat State Petroleum Corporation Limited GSPC by way of an interse transfer in accordance with Regulation 101aiii of the Securities and Exchange Board of India Substantial Acquisition of Shares and Takeovers Regulations 2011. During financial year ended 31 March 2017 GSPL successfully completed commissioning of MandaliBecharaji pipeline and provided natural gas connectivity to automobile majors Honda and Maruti Bodighodi Ambardi pipeline connected to Gujarat Gas Ltd and various customers connectivity projects namely Sanand GIDC ring network Dahej PCPIR and Dahej SEZII network.
OrganisationGujarat State Petronet Ltd
HeadquartersGandhinagar
IndustryGas Distribution