Gujarat State Petronet Ltd.
NSE: GSPLGujarat State Petronet Ltd.: A 30-second snapshot
GSPL, a Gujarat-based natural gas transmission company, trades at ₹268.35 — 14.47% below its level a year ago and 24.33% off its 52-week high, with price below both the 50-DMA (₹269.29) and 200-DMA (₹295.83). The company is in the midst of a major GSPC Group restructuring effective May 2026, involving a GGL merger, GTL demerger, and share swap, which has dominated recent news flow. PE stands at 14.85 with a 6.46% profit margin, a 1.86% dividend yield, and a falling debt-to-equity trend (0.876).
P/E
14.9
Forward P/E
13.3
ROE
—
Debt / Equity
0.88
Profit Margin
+6.5%
Div. Yield
+1.9%
5Y ROE > 15%
3/5
5Y FCF > 0
4/5
Quality
45/100
News
8 headlines · 0 positive · 1 negative
Gujarat Gas Limited Fixes Record Date for Share Allotment Under Composite Scheme of Amalgamation and Arrangement - India IPO
India IPO
GSPC Group Restructuring Effective from May 1, 2026: GGL Merger, GTL Demerger, Share Swap Ratios Announced - Dalal Street Investment Journal
Dalal Street Investment Journal
GSPL Announces May 12, 2026 Record Date for Gujarat Gas Share Allotment Under Amalgamation Scheme - PSU Connect
PSU Connect
GSPL Sets May 12 Record Date for Gujarat Gas Share Swap as Trading Ends - Whalesbook
Whalesbook
Gujarat Gas Rebrands to Gujarat Energy, Integrates GSPC/GSPL, Faces Cost Risks - Whalesbook
Whalesbook
Recent context
- ·The GSPC Group composite scheme of amalgamation and arrangement became effective May 1 2026, with GSPL setting May 12 2026 as the record date for Gujarat Gas share allotment under the merger — marking a significant ownership and structural change for the company.
- ·A Whalesbook headline from May 2 2026 flagged that Gujarat Gas (rebranding to Gujarat Energy) faces cost risks as it integrates GSPC and GSPL assets, noting the rebrand and integration scope — the sole negative-sentiment article in the 8-article news corpus.
- ·With the record date passed and the merger effective, near-term news flow is likely to shift toward post-scheme integration progress; the nearest technical resistance level is ₹289, approximately 7.7% above the current price of ₹268.35.
Strengths
- +FCF positive in 4 of tracked years with a falling debt-to-equity trend (current D/E: 0.876), indicating improving balance sheet discipline.
- +5-year earnings CAGR of +9.6% despite a -10.9% revenue decline, demonstrating that margin expansion has materially improved bottom-line conversion over the period.
- +Forward PE of 13.30 is below trailing PE of 14.85, reflecting analyst consensus expectations of higher earnings in the near term; dividend yield of 1.86% provides a modest income component.
- +Analyst mean rating of 2.5625 across 16 analysts (1–5 scale, lower = more constructive) sits toward the constructive end of the scale, suggesting a degree of coverage-side acknowledgement of the current valuation level.
Weaknesses
- −5-year revenue CAGR of -10.9% represents persistent top-line contraction; earnings growth has been driven by margin expansion rather than volume, which narrows the pathway for compounding growth.
- −Current-period ROE data is unavailable; in tracked history ROE exceeded 15% in only 3 years, and quality score of 44 with consistency score of 31 rank GSPL 4th of 6 energy peers on both metrics.
- −Price is 24.33% off the 52-week high, down 14.47% over 12 months and 10.52% over 3 months, below both moving averages — indicating a sustained period of price underperformance relative to longer-term trend.
- −The GSPC Group composite restructuring (GGL merger, GTL demerger) became effective May 1 2026 and has drawn at least one headline flagging integration cost risks — structural uncertainty around post-scheme cost base and ownership is unresolved.
Open questions
- ?If 5-year revenue has contracted at -10.9% annually while earnings grew at +9.6%, how much further can margin expansion sustain earnings growth — and what drives volumes in the gas transmission segment?
- ?How does the post-scheme ownership structure (following the GGL merger and GTL demerger) affect GSPL's regulated asset base, tariff setting, and revenue visibility relative to the pre-scheme entity?
- ?Given GSPL ranks 4th of 6 energy peers on both quality score (44) and consistency score (31), what structural factors — regulatory framework, asset mix, or capital allocation — explain the gap versus higher-ranked peers like COALINDIA (77) or ONGC (54)?
- ?With the stock 24.33% off its 52-week high and below the 200-DMA, what operational or financial inflection points would be observable in upcoming quarterly results that could confirm or challenge the forward earnings improvement implied by the 13.30 forward PE?
Peer comparison: Energy
Ranks 4 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| GSPL | Gujarat State Petronet Ltd.You're viewing | 14.9 | — | 44 |
| Industry avg | across 5 peers | 11.6 | +18.6% | 53 |
| COALINDIA | Coal India Ltd. | 9.2 | +28.1% | 77 |
| ONGC | Oil & Natural Gas Corporation Ltd. | 9.9 | — | 54 |
| BPCL | Bharat Petroleum Corporation Ltd. | 4.9 | — | 53 |
| RELIANCE | Reliance Industries Ltd. | 22.4 | +9.1% | 29 |
| DUMMYVEDL3 | Dummy Vedanta Ltd. 3 | — | — | — |
Technical state
Current price
₹268.35
SMA 50
₹269.29
SMA 200
₹295.83
RSI (14)
44.6 (neutral)
From 52w high
-24.3%
1Y return
-14.5%
3M return
-10.5%
50-DMA
Below
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- highA major GSPC Group composite restructuring scheme — involving the merger of Gujarat Gas Ltd (GGL) into GSPL, demerger of GTL, and share swap ratios — became effective May 1 2026 with a May 12 2026 record date. One headline explicitly flags cost risks from the integration ("Gujarat Gas Rebrands to Gujarat Energy, Integrates GSPC/GSPL, Faces Cost Risks"). Structural changes of this scale introduce uncertainty around post-scheme ownership, valuation, and cost synergy realisation.
- medium5-year revenue CAGR is -10.9%, reflecting persistent top-line contraction. Earnings grew 9.6% over the same period, meaning profit margin expansion has offset volume decline — a dynamic that constrains future earnings growth if margins compress or volumes do not recover.
- mediumPrice of ₹268.35 is below both the 50-DMA (₹269.29) and 200-DMA (₹295.83), down 14.47% over 12 months and 24.33% off the 52-week high. The stock has been below the 200-DMA for an extended period with nearest resistance at ₹289.
- mediumCurrent-period ROE data is unavailable; over tracked history ROE exceeded 15% in only 3 years. Quality score of 44 and consistency score of 31 rank GSPL 4th of 6 energy peers on quality — below COALINDIA (77), ONGC (54), and BPCL (53).
- lowPeer comparison is materially incomplete: all 5 peer priceChange1Y values are null, 3 of 5 peer ROE values are null, and one peer entry (DUMMYVEDL3) is a placeholder. Sector ranking conclusions on PE (4th of 6) and quality (4th of 6) should be treated as indicative only.
Cross-section contradictions
- 5-year earnings CAGR is +9.6% and forward PE of 13.30 implies continued earnings improvement, yet 5-year revenue CAGR is -10.9% — sustained earnings growth without top-line recovery depends on margin expansion alone, which adds fragility to the earnings trajectory.
- News sentiment across 8 articles is predominantly neutral (7) with 1 negative and 0 positive, yet the restructuring scheme — the dominant news catalyst — has been framed as a significant strategic consolidation. The subdued news tone and 14.47% 1-year price decline suggest the market is not attributing a premium to the restructuring announcement.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 24 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 17 May 2026 · rotates through NIFTY 500 every ~5 days