Gujarat Gas Limited has informed the Exchange about Credit Rating
GUJGASLTD · price
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CRISIL Ratings has reaffirmed its 'CRISIL AAA/Stable' rating on Gujarat Gas Limited's long-term bank facilities of Rs 3,350 crore. The rating reflects the company's strong position as India's largest CGD (city gas distribution) player with 27 licences across 44 districts, supported by the impending merger with GSPC and GSPL. Both GGL and GSPC are currently debt-free, with the merged entity expected to remain debt-free. Volumes dipped in 9M FY26 to 8.63 mmscmd from 9.73 mmscmd due to weak demand in Morbi clusters, though CNG and non-Morbi PNG segments improved. Cash and bank balances stood at over Rs 1,500 crore as of March 2025, with annual cash accrual expected at Rs 1,000-1,100 crore against capex of Rs 800-1,000 crore. Revenue for FY25 was Rs 16,503 crore with PAT of Rs 1,146 crore.
The reaffirmation of the highest AAA/Stable rating signals strong financial health and minimal credit risk for shareholders and lenders. This is positive news as it indicates the company can comfortably fund operations and growth from internal accruals without external borrowing, even after the GSPC merger.