Gujarat State Petronet Limited (GSPL) AI Stock Analysis

• Market Cap: ₹175.55B
• Dividend Yield: 1.69%
• Average Volume (3M): 37.45K
• Price to Earnings (P/E): 15.8
• Beta (1Y): 0.79
• Revenue Growth: 0.44%
• EPS Growth: -33.05%
• Country: IN
• Employees: 254
• Sector: Energy
• Sector Strength: 52
• Industry: Regulated Gas
• EPS (TTM): 6.80
• Shares Outstanding: 564,211,360
• 10 Day Avg. Volume: 30,634
• 30 Day Avg. Volume: 37,445
• PEG Ratio: -0.45
• Price to Book (P/B): 1.42
• Price to Sales (P/S): 0.96
• P/FCF Ratio: 9.40
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 71 Outperform
• Price Target: ₹345.00 ▲(7.93% Upside)

Gujarat State Petronet Limited's overall score is driven by its stable financial performance and fair valuation. While technical analysis shows mixed signals, the company's strong financial management and reasonable valuation support a moderate investment outlook.

Positive Factors

Revenue Growth

The company's consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.

Cash Flow Management

Effective cash management ensures the company can meet its obligations and invest in growth opportunities, enhancing financial resilience.

Balance Sheet Strength

A robust balance sheet with low financial leverage reduces risk and provides flexibility for future investments and expansion.

Negative Factors

Profitability Challenges

Challenges in maintaining profitability could pressure margins and limit the company's ability to reinvest in its operations or return capital to shareholders.

Capital Expenditure Impact

High capital expenditures, if not managed carefully, could strain liquidity and limit the company's ability to respond to market opportunities or economic downturns.

Historical Financial Leverage

Past reliance on debt could indicate potential vulnerabilities if market conditions change or if the company faces unexpected financial pressures.

Gujarat State Petronet Limited Business Overview & Revenue Model

Company Description

Gujarat State Petronet Limited transmits natural gas through pipeline on an open access basis from supply points to demand centers in India. The company develops energy transportation infrastructure and connects natural gas supply sources, including LNG terminals to various markets in Gujarat. As of March 31, 2021, it operated approximately 2694 kilometers of gas pipeline. The company transports approximately 35 MMSCMD of natural gas to refineries, steel plants, fertilizer plants, petrochemical plants, power plants, glass industries, and other miscellaneous industries, as well as to textile, chemical, and city gas distribution companies. It also generates and sells electricity through windmills. The company was founded in 1998 and is based in Gandhinagar, India.

How the Company Makes Money

GSPL generates revenue primarily through the transportation of natural gas via its pipeline network. The company charges tariffs for the transmission of gas, which serves as a key revenue stream. Additionally, GSPL earns income from capacity booking agreements with various clients, ensuring a steady cash flow from long-term contracts. The company also benefits from partnerships with other energy firms and government initiatives aimed at expanding the natural gas infrastructure in India. Factors contributing to its earnings include the growing demand for natural gas in the region, strategic investments in pipeline expansion, and the increasing shift towards cleaner energy sources.

Gujarat State Petronet Limited Financial Statement Overview

Summary

Gujarat State Petronet Limited shows a stable financial profile with consistent revenue and equity growth. Strong profitability and efficient cash management are evident, though there are concerns about profitability dips and capital expenditure impacts.

Income Statement

The income statement reveals consistent revenue growth over the years, with a slight dip in 2025. Gross and net profit margins have been stable, with a gross profit margin of approximately 26% and a net profit margin around 6% for 2025. EBIT and EBITDA margins are also strong, reflecting efficient operational management. However, the decline in net income in 2025 indicates some challenges in maintaining profitability.

Balance Sheet

The balance sheet shows strong equity growth and a favorable debt-to-equity ratio, demonstrating financial stability. The equity ratio improved to about 56% in 2025, highlighting the company's robust capital structure. A decreasing debt profile over the years further reduces financial risk. However, the reliance on debt in earlier years may pose some historical financial leverage concerns.

Cash Flow

The cash flow statement indicates solid operating cash flow, consistently surpassing net income, signifying effective cash management. Free cash flow has grown steadily, with a growth rate of about 14% in 2025. The cash flow to net income ratios are favorable, underscoring efficient cash conversion. However, the significant capital expenditures may impact future liquidity if not managed carefully.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	167.50B	173.70B	172.95B	181.17B	179.91B	115.35B
Gross Profit	41.81B	42.76B	48.75B	49.97B	46.76B	45.75B
EBITDA	25.27B	26.49B	33.53B	36.27B	34.79B	35.63B
Net Income	10.51B	11.11B	16.60B	16.41B	16.38B	16.07B
Balance Sheet
Total Assets	0.00	208.07B	190.56B	173.16B	152.94B	141.69B
Cash, Cash Equivalents and Short-Term Investments	39.09B	39.09B	23.52B	14.41B	1.20B	3.74B
Total Debt	0.00	1.38B	1.40B	1.49B	7.13B	20.03B
Total Liabilities	-155.55B	52.52B	46.73B	46.28B	47.77B	57.10B
Stockholders Equity	155.55B	116.46B	108.25B	94.49B	79.19B	63.91B
Cash Flow
Free Cash Flow	0.00	17.65B	15.50B	20.62B	14.56B	20.41B
Operating Cash Flow	0.00	27.41B	28.03B	33.40B	27.46B	28.97B
Investing Cash Flow	0.00	-27.54B	-21.42B	-18.15B	-13.57B	-10.80B
Financing Cash Flow	0.00	-5.44B	-5.47B	-8.05B	-16.59B	-20.96B

Gujarat State Petronet Limited Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 319.65
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:GSPL, the sentiment is Positive. The current price of 319.65 is above the 20-day moving average (MA) of 300.14, above the 50-day MA of 298.79, and above the 200-day MA of 309.90, indicating a bullish trend. The MACD of 5.95 indicates Negative momentum. The RSI at 58.48 is Neutral, neither overbought nor oversold. The STOCH value of 73.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:GSPL.

Gujarat State Petronet Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GAIL	77 Outperform	₹1.08T	9.90	―	4.39%	5.91%	-5.42%
IGL	75 Outperform	₹261.59B	16.38	―	0.77%	8.88%	-13.51%
GSPL	71 Outperform	₹175.55B	15.80	―	1.69%	0.44%	-33.05%
MGL	69 Neutral	₹104.67B	10.71	―	2.62%	19.78%	-14.38%
GUJGASLTD	69 Neutral	₹291.98B	26.16	―	1.47%	-2.39%	-12.17%
ATGL	66 Neutral	₹612.37B	97.87	―	0.04%	16.61%	-10.87%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%

Gujarat State Petronet Limited Corporate Events

GSPL Joint Managing Director Milind Torawane Resigns Following Government Posting

Gujarat State Petronet Limited has announced that Milind Torawane, IAS, has resigned as Joint Managing Director and Executive Director of the company with effect from 24 December 2025, following his transfer and appointment as Principal Secretary to the Government of Gujarat’s Education Department (Primary & Secondary Education). His exit reflects a broader reshuffle of senior roles across several state-linked energy entities, as he has simultaneously stepped down from key positions in multiple affiliated companies, signaling a notable change in leadership across Gujarat’s state-controlled gas and power infrastructure network and prompting investors to monitor subsequent board and management reconstitution at GSPL.

Gujarat State Petronet Limited Holds Shareholder Meeting on Amalgamation Scheme

Gujarat State Petronet Limited held a meeting of its equity shareholders as directed by the Ministry of Corporate Affairs to discuss and approve a Composite Scheme of Amalgamation and Arrangement involving several companies, including Gujarat State Petroleum Corporation Limited and Gujarat Gas Limited. This meeting, conducted through video conferencing, is part of a strategic move to streamline operations and enhance the company’s market positioning by integrating various entities, potentially impacting stakeholders positively by improving operational efficiencies.