Gujarat State Petronet posts strong earnings, plans major restructuring

Gujarat State Petronet (GSPL) reported a total income of INR 1,51,489.91 Lacs for FY 2024-25, with profit after tax of INR 80,762.22 Lacs, resulting in earnings per share of INR 14.31. The board of directors recommended a dividend of INR 5 per equity share for FY 2024-25, subject to shareholder approval, amounting to approximately INR 28,210.57 Lacs in total cash outflow. The company maintained its zero-debt status during the year.

The company announced a composite scheme of amalgamation and arrangement, approved on August 30, 2024, involving the merger of GSPC, GSPL, and GEL into Gujarat Gas Limited (GGL), and the demerger of the gas transmission business undertaking into GSPL Transmission Limited (GTL). This restructuring, anticipated to be completed by October 2025, aims to streamline operations and unlock shareholder value.

GSPL also highlighted its continued expansion of the gas grid, successfully connecting new regions and increasing gas supply. The company transported 11,032 MMSCM of gas in FY 2024-25 and generated 8,65,25,354 KWH of electricity from its wind power projects.