The Board at its meeting today, approved the Standalone and Consolidated Financial Results for the Quarter & Year ended 31st March 2025 and Recommended Dividend subject to approval of shareholders
Awaiting price reaction for this filing.
Gujarat State Petronet's Board approved audited Standalone and Consolidated Financial Results for Q4 and the full year ended 31st March 2025. The statutory auditor M/s B P Bang & Co. issued an unmodified (clean) opinion on both sets of results. The Board has recommended a dividend of Rs. 5.00 per share (50%) on equity shares of Rs. 10 face value, subject to shareholder approval at the upcoming AGM. The company highlighted an ongoing Composite Scheme of Amalgamation involving GSPC, GSPL, GEL with Gujarat Gas, and a subsequent demerger of the Gas Transmission Business into GSPL Transmission Limited, pending MCA and regulatory approvals. The auditor also flagged an Emphasis of Matter regarding a contractual arbitration dispute with contractors amounting to Rs. 14,096.03 lakhs, where the company has challenged an adverse arbitral award before the Gujarat High Court. Additionally, PNGRB has revised GSPL's HP gas grid levelized tariff from Rs. 34/MMBTU to Rs. 18.10/MMBTU, which the company is contesting in the Delhi High Court.
The clean audit opinion and 50% dividend declaration are positive signals for shareholders, but the pending amalgamation/demerger scheme and significant arbitration/tariff disputes create medium-term uncertainty around earnings and business structure.