Gujarat Gas Limited stands as India's Largest CGD Company and represents one of the most significant players in the natural gas distribution sector. Gujarat Gas Limited engages in the distribution of natural gas in India, serving millions of customers across multiple states through an extensive network infrastructure.
It operates a network of approximately 41,700 kilometers of natural gas pipeline and 820 compressed natural gas (CNG) stations. The company has built a comprehensive distribution network that supplies piped natural gas to approximately 21.90 lakh households, approximately 15,470 commercial customers; and approximately 4,410 industrial customers, as well as operates 820 CNG stations. This extensive reach demonstrates the company's dominant position in the Indian city gas distribution market.
The business model of Gujarat Gas centers around the distribution of natural gas from supply sources to end customers across various segments. The business of natural gas involves distribution of gas from sources of supply to centres of demand and to end customers. GGL caters to its customers by providing CNG and PNG connections in domestic, Industrial, Commercial and Non commercial segments in the areas of South & Central Gujarat and Saurashtra.
Gujarat Gas has established a strong geographic footprint across multiple states. It operates in the states of Gujarat, Maharashtra, Punjab, Madhya Pradesh, Rajasthan, and Haryana; and 1 union territory of Dadra and Nagar Haveli, and Daman and Diu. The company has 27 city gas distribution licenses spread across 43 districts in six states and one Union territory, providing it with significant operational scale and market reach.
The company was formerly known as GSPC Distribution Networks Limited and changed its name to Gujarat Gas Limited in May 2015. Gujarat Gas Limited was incorporated in 2012 and is based in Gandhinagar, India. Gujarat Gas Limited operates as a subsidiary of Gujarat State Petronet Limited, which provides it with strong backing and integration within the natural gas value chain.
The company is part of a larger ecosystem as It has Gujarat State Petroleum Corporation (GSPC) which is India's leading natural gas trading company, Gujarat State Petronet Limited ( GSPL) which is India's second largest natural gas transmission company and itself; Gujarat Gas Limited (GGL) which is India's leading City Gas Distribution (CGO) company.
Gujarat Gas has demonstrated solid financial performance with Mkt Cap: 31,700 Crore as of recent data. The company reported strong Q4 FY25 results with Rs.524 Cr EBITDA, Rs.287 Cr PAT, highest CNG volume 3.22 mmscmd, Rs.5.82 dividend/share recommended.
For the quarter ended March 2025, the company showed impressive growth with a 29.6% quarter-on-quarter (QoQ) increase in net profit, which stood at ₹287.2 crore, compared to ₹221.6 crore in Q3 FY25. The operational performance also strengthened significantly, with EBITDA rising 18.5% QoQ to ₹449.5 crore, up from ₹379.4 crore in the previous quarter.
Key financial metrics for Q4 FY25 include:
- Revenue: ₹4,102.01 crore
- Net Profit: ₹287.88 crore
- EBITDA: ₹524 crore
- EBITDA Margin: 11%
- Dividend Recommended: ₹5.82 per share
The company achieved several operational milestones during Q4 FY25. The company recorded its highest compressed natural gas (CNG) volume at 3.22 million standard cubic metres per day (mmscmd) during the quarter, representing a 3 per cent increase from Q3 FY25. Total sales volume for Q4 FY25 was 9.31 mmscmd, including 5.03 mmscmd industrial, 0.89 mmscmd domestic piped natural gas, and 0.16 mmscmd commercial PNG. The company added over 38,700 new domestic customers and three new CNG stations during the quarter.
Gujarat Gas maintains high operational standards and has received multiple certifications. Gujarat Gas Limited (GGL) is an ISO certified organisation for its Integrated QHSE (Quality, Health, Safety & Environment) Management System. The company has been certified by M/s Bureau Veritas in Feb 2025 for its integrated management system.
The company has received several prestigious awards and recognitions, including being Listed in Dun & Bradstreet's flagship publication 'India's Top 500 Value Creators 2023' in Gas Processing, Transmission and Marketing category and winning the IEI Industrial Excellence Award 2023 for commendable performance.
Gujarat Gas has been actively pursuing strategic initiatives to strengthen its market position. The company has successfully commissioned the country's first pilot project of blending green hydrogen with Piped Natural Gas for the domestic customers on collaboration with NTPC, demonstrating its commitment to sustainable energy solutions.
The company continues to expand its customer base and infrastructure, with Promoter holding in Gujarat Gas Ltd has gone up to 60.89 per cent as of Mar 2025, indicating strong promoter confidence in the business prospects.
Gujarat Gas Limited's strong market position, extensive infrastructure network, consistent financial performance, and strategic focus on sustainable energy solutions position it well for continued growth in India's expanding natural gas distribution sector.
