Gujarat Gas Limited was incorporated in 1980 and is in the business of procurement and distribution of natural gas. The company went public in October 1991, listing on the BSE and the National Stock Exchange. It operates primarily in the state of Gujarat but is India's largest city gas distribution company in terms of sales volume.
The majority stake in the company was originally held by BG Group Plc. The UK-based multinational oil and gas company acquired a majority stake in the year 1997. In 2012, the BG group sold their 65% stakes to the state-run public-sector corporation GSPC (Gujarat State Petroleum Corporation).
The company entered into a business transfer agreement (BTA) in 2021 for the transfer/purchase of the city gas distribution business in Amritsar and Bathinda from Gujarat State Petronet Limited (the holding company) to Gujarat Gas Limited.
The market capitalisation of Gujarat Gas Limited stood at over ₹39,100 crores as of 24th January 2024. Gujarat Gas share price has moved by over 60% in the last three years.
Business operations
Gujarat Gas played a significant role along with the National Thermal Power Corporation (NTPC) in the country’s pilot project of combining natural gas and green hydrogen for domestic usage. The company’s size and large-scale operations have helped to increase its efficiency.
It holds a total of 27 city gas distribution licences, operating in 44 districts across six states and the Union Territory of Dadra and Nagar Haveli. This constitutes approximately 9% of the total city gas distribution licences and approximately 6% of the total area authorised by the Petroleum and Natural Gas Regulatory Board (PNGRB) in India. The company also has a transportation pipeline licence.
The company has over 15,000 kilometres of gas pipeline network covering over 19 districts in Gujarat. Apart from providing CNG to the transport sector, it caters to the natural gas requirements of over 10.2 lakh households, more than 2,700 industrial units and over 11,000 commercial and non-commercial entities.
Gujarat Gas continues to hold the key leadership position in the city gas distribution industry segment. Not only in terms of size and scale of operation but also the reach. Its over 37,000-kilometre natural gas pipeline network in India reaches more than 20 lakh households, over 14,700 commercial customers, more than 800 CNG stations and 4,352 industrial units. It has been instrumental in the country reaching several milestones in the hydrocarbon segment and has also changed the outlook of oil and gas production and exploration in India.
In FY23, Gujarat Gas Limited witnessed the highest-ever CNG volumes with an average of 2.43 million metric standard cubic meters per day (MMSCMD). The company also saw the commissioning of a record 1.79 lakh domestic customers, up by 16% from the 1.54 lakh customers in FY22. Gujarat Gas Limited added 102 new CNG stations during the fiscal year, surpassing the total of 800 CNG stations.
In FY23, the company started a pilot project in collaboration with Tata Power to establish an Electric Vehicle (EV) charging facility at a CNG station in Kevadia, Gujarat.
Gujarat Gas Financial Highlights
- Revenue: Gujarat Gas reported revenue of ₹24,161.92 crore in FY26 vs ₹16,695.24 crore in FY25. It showed an increase of 44.72% on a yearly basis.
- Operating Profit: Gujarat Gas reported an operating profit of ₹2,440.94 crore in FY26 vs ₹1,549.41 crore in FY25. It showed an increase of 57.54% on a year-on-year basis.
- Net Profit: Gujarat Gas reported a net profit of ₹1,677.58 crore in FY26 vs ₹1,148.32 crore in FY25. It showed an increase of 46.09% on a yearly basis.
Gujarat Gas Quarterly Result Highlights
- Gujarat Gas reported revenue of ₹5,950.68 crore in Mar 2026, compared with ₹3,713.01 crore in Dec 2025, representing an increase of 60.27% on a quarter-on-quarter (QoQ) basis.
- Gujarat Gas reported an operating profit of ₹373.52 crore in Mar 2026, compared with ₹359.24 crore in Dec 2025, representing an increase of 3.98% on a quarter-on-quarter (QoQ) basis.
- Gujarat Gas reported a profit of ₹151.80 crore in Mar 2026, compared with ₹266.84 crore in Dec 2025, reflecting a decrease of 43.11% on a QoQ basis.
- The earnings per share (EPS) of Gujarat Gas stood at ₹16.68 during Mar 2026.
