Gujarat State Petronet Limited has submitted to the Exchange, the financial results for the period ended March 31, 2025.
Awaiting price reaction for this filing.
Gujarat State Petronet (GSPL) submitted its audited financial results for Q4 and FY25, with the auditor M/s B P Bang & Co. issuing an unmodified opinion on both standalone and consolidated results. On a standalone basis, revenue from operations fell sharply to around Rs. 40,412 lakhs from Rs. 53,643 lakhs in FY24, primarily because PNGRB cut the levelized tariff from Rs. 34/MMBTU to Rs. 18.10/MMBTU effective May 1, 2024; GSPL has filed a writ in the Delhi High Court challenging this order. Despite the tariff hit, standalone profit after tax edged up to Rs. 26,113 lakhs from Rs. 25,566 lakhs. On a consolidated basis, revenue grew to roughly Rs. 18.4 lakh lakhs from Rs. 16.6 lakh lakhs. The Board has recommended a dividend of Rs. 5 per share (50%) subject to shareholder approval, and the pending Composite Scheme of Amalgamation with GSPC, GEL, and Gujarat Gas remains subject to MCA sanction.
The PNGRB tariff cut is the biggest overhang, weighing on standalone revenue and margins until the Delhi High Court ruling comes through, but consolidated earnings are cushioned by subsidiary Gujarat Gas. Shareholders get a steady 50% dividend, and the ongoing amalgamation/restructuring could meaningfully reshape the business once approved.