Fortune India 500 2025 edition
Rank#161- Total income
- ₹17,724 Cr
- Profit
- ₹1,111 Cr
Last year #144
Gujarat State Petronet Limited - environment in Gandhinagar, Gujarat, India. FY 2026 financials & compliance.
Revenue · FY 2025
₹1,514.9 Cr
▲ 2% YoY
Net profit · FY 2025
₹1,637.4 Cr
Net margin 108.1%
EBITDA · FY 2025
₹2,980.39 Cr
EBITDA margin 196.7%
Authorised capital
₹700 Cr
Registered with MCA
Paid-up capital
₹564.21 Cr
Issued & subscribed
Satisfied charges
₹2,821.02 Cr
No open charges
Company age
28 yrs
Est. 1998
Employees · EPFO
255
Provident fund records
About Gujarat State Petronet Limited
Data last updated:
Gujarat State Petronet Limited is a public limited state government company based in Gandhinagar, Gujarat, India, a subsidiary of Gujarat State Petroleum Corporation Limited. It operates in the wind energy solutions segment of the environmental services sector. It was incorporated on 23 December 1998 and has been in existence for over 28 years.
Gujarat State Petronet is ranked #161 on the Fortune India 500 (2025).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L40200GJ1998SGC035188. Its GSTIN is 24AABCG1812E1ZB (Gujarat). The company holds 4 GST registrations, of which 3 are active. It is recorded as listed by MCA, but its shares were delisted from BSE on 12 Oct 2026 · merger, and no longer trade on a stock exchange.
The company has an authorised share capital of ₹700 Cr and a paid-up capital of ₹564.21 Cr. It is led by directors including Pankaj Harishchandra Joshi (Managing Director) and Manoj Kumar Das (Managing Director).
Its last annual general meeting (AGM) was held on 23 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at Gspc Bhavan Behind Udyog Bhavan Sector – 11, Gandhinagar, Gujarat, India – 382011.
As per the financials filed for FY 2025, the company reported a revenue of ₹1,514.9 Cr, a growth of 2% compared to the previous year. For the same year it recorded a net profit of ₹1,637.4 Cr (net margin 108.1%) and EBITDA of ₹2,980.39 Cr (EBITDA margin 196.7%). Revenue has grown at a compounded annual rate (CAGR) of 8% over five years.
The company has about 255 employees on its provident fund (EPFO) records. Its group structure includes 3 subsidiaries.
As per MCA filings, the company has satisfied charges of ₹2,821.02 Cr on record. Court records list 260 cases involving the company, including 61 filed by the company and 205 filed against it; 54 cases are pending. The company has 27 deals on record (19 market trades, 3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹272.01 Cr; the latest was in September 2024.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website gspcgroup.com.
Company details
CIN L40200GJ1998SGC035188
Registration Number 035188
Incorporation Date 23 December 1998
ROC Ahmedabad
Listing Status Listed - Delisted from BSE on 12 Oct 2026 · merger
Company Status Active
Date of Last AGM 23 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Gujarat State Petroleum Corporation Limited
Compliance Status Active Compliant
CIN history
Gujarat State Petronet has 2 previous CINs, indicating changes in the company's corporate structure or registration details. The current CIN is L40200GJ1998SGC035188, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L40200GJ1998SGC035188 | Current |
| L40200GJ1998GOI035188 | Previous |
| U40200GJ1998GOI035188 | Previous |
Key People
Pankaj Harishchandra Joshi Managing Director Manoj Kumar Das Managing Director Avantikasing Aulakh Managing Director Recognitions & Rankings of Gujarat State Petronet
Contact details
Gujarat State Petronet Limited's registered office is in Gandhinagar, Gujarat. Its website is gspcgroup.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressGspc Bhavan Behind Udyog Bhavan Sector – 11, Gandhinagar, Gujarat, India – 382011
- IndustryEnvironment, Wind Energy Solutions
To see the full contact details of Gujarat State Petronet Limited, buy the company report.
Comprehensive company report
Gujarat State Petronet Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Secure checkout · GST invoice included
Business activity
The main business activities of Gujarat State Petronet are transport and storage and electricity, gas, steam and air condition supply. In detail, this covers land transport via railways & pipelines, electric power generation, transmission and distribution and manufacture of gas, distribution of gaseous fuels. 3 activity segments are registered with the MCA.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| H | Transport and storage | H2 | Land transport via Railways & Pipelines | |
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution | |
| D | Electricity, gas, steam and air condition supply | D2 | Manufacture of gas, distribution of gaseous fuels |
To see the full business activity and turnover split of Gujarat State Petronet Limited, buy the company report.
Financials of Gujarat State Petronet Limited
FY 2025 filings availableGujarat State Petronet Limited reported revenue of ₹1,514.9 Cr (up 2% YoY) for FY 2025.
Revenue · FY 2025
₹1,514.9 Cr ▲ 2%
Net profit · FY 2025
₹1,637.4 Cr margin 108.1%
EBITDA · FY 2025
₹2,980.39 Cr margin 196.7%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 2%
5 years · compounded
▲ 8%
EBITDA CAGR growth
1 year
▼ 18%
3 years · compounded
▼ 5%
5 years · compounded
▼ 2%
Revenue has grown at a compounded annual rate (CAGR) of 8% over five years, including 2% growth in the latest year. EBITDA fell 18% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profit and Loss Statement | |||||
| Revenue from Operations | |||||
| Other Income | |||||
| Total Revenue | ₹1,514.9 Cr | ||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹2,980.39 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹1,637.4 Cr | ||||
| Balance Sheet | |||||
| Share Capital | |||||
| Reserves and Surplus | |||||
| Net Worth (Total Equity) | |||||
| Long-term Borrowings | |||||
| Short-term Borrowings | |||||
| Trade Payables | |||||
| Total Liabilities | |||||
| Fixed Assets | |||||
| Investments | |||||
| Inventories | |||||
| Trade Receivables | |||||
| Cash and Bank Balance | |||||
| Total Assets | |||||
Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 196.7% | ||||
| Net Profit Margin | 108.1% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
| Liquidity and Debt | |||||
| Current Ratio | |||||
| Quick Ratio | |||||
| Debt-to-Equity Ratio | |||||
| Interest Coverage Ratio | |||||
| Efficiency and Growth | |||||
| Asset Turnover | |||||
| Receivable Days | |||||
| Payable Days | |||||
| Inventory Days | |||||
| Revenue Growth | |||||
| Net Profit Growth | |||||
To see the full financial statements and ratios of Gujarat State Petronet Limited, buy the company report.
Board of directors and KMP of Gujarat State Petronet Limited
Gujarat State Petronet Limited currently reports 8 directors and 1 key managerial person. 48 former directors have served the organization.
Current Directors and KMP
Showing 6 of 9 current directors and KMP. View all directors and KMP
Auditor
Gujarat State Petronet Limited is audited by B P BANG & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| B P BANG & CO | FY 2023 | 010621C |
Shareholding
The shareholding of Gujarat State Petronet Limited is on record for 5 financial years, the latest being FY 2022, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Gujarat State Petronet Limited, buy the company report.
Charges & borrowings
Open charges
None
Satisfied charges
₹2,821.02 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 23 Feb 2021 | 100426456 | Hdfc Bank Limited | ₹350 Cr | Satisfied | |
| 31 Aug 2019 | 100289871 | Others | ₹250 Cr | Satisfied | |
| 24 Feb 2015 | 10553201 | State Bank of India | ₹175 Cr | Satisfied | |
| 03 Feb 2015 | 10551878 | Hdfc Bank Limited | ₹150 Cr | Satisfied | |
| 23 Oct 2012 | 10386585 | Idfc Limited | ₹350 Cr | Satisfied |
To see the full charge records of Gujarat State Petronet Limited, buy the company report.
Total charge records: 25 View all charges
Deals & funding
Gujarat State Petronet Limited has 27 deals on record (19 market trades, 3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹272.01 Cr; the latest was in September 2024.
Total deals
27
Market trades
19
Funding rounds
3
Secondary share transfers
2
Acquisitions
2
Disclosed funding
₹272.01 Cr
Deals on record (5 of 27)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Sep 2024 | Market trade | ₹164.86 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Aug 2024 | Market trade | ₹133.81 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Aug 2024 | Market trade | ₹126.4 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Aug 2024 | Market trade | ₹127.45 Cr | Buyer: Graviton Research Capital LLP Seller: Graviton Research Capital LLP |
| Apr 2024 | Market trade | ₹88.29 Cr | Buyer: Setu Securities Private Limited Seller: Setu Securities Private Limited |
To see the full deal history of Gujarat State Petronet Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Gujarat State Petronet Limited has 260 court cases on record: 61 filed by Gujarat State Petronet, 205 filed against it. 54 cases are pending and 206 are disposed.
Total cases
260
Filed by the company
61
Filed against the company
205
Pending
54
Disposed
206
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 157 | 119 | 33 |
| District courts | 81 | 74 | 16 |
| Supreme Court | 15 | 9 | 1 |
| NCLAT | 5 | 1 | 4 |
| NCLT | 2 | 2 | 0 |
Cases on record (5 of 260)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT New Delhi | Interim or miscellaneous application | Filed by the company against Videocon Industries Limited Through RP Abhijit Guhathakurta & Anr. and 1 other | Pending |
| District court, Ahmedabad, Gujarat | Commercial matter | Filed by the company against Jindal Pipes Limited | Pending |
| High Court, GUJARAT | Appeal | Filed by the company against Gail India Limited and 4 others | Pending |
| High Court, GUJARAT | Special civil application | Filed against the company by Gujarat State Petronet Ltd. | Disposed |
| High Court, GUJARAT | Special civil application | Filed by the company against Vinaykumar Executive Director, Gujarat State Petronet Ltd and 2 others | Disposed |
To see the full case history of Gujarat State Petronet Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Gujarat State Petronet Limited was last rated by Care on 27 Sep 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 27 Sep 2022 |
To see the full credit ratings and regulatory alerts of Gujarat State Petronet Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gujarat State Petronet Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Gujarat State Petronet has 3 subsidiary companies and 1 associated company. This group structure data is as of FY 2022. The table lists each entity with its relationship and holding.
3
Subsidiary companies
1
Associated companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Gujarat Gas Limited | L40200GJ2012SGC069118 | |
| GSPL India Gasnet Limited | U40200GJ2011SGC067449 | |
| GSPL India Transco Limited | U40200GJ2011SGC067450 |
To see the full group structure of Gujarat State Petronet Limited, buy the company report.
Employees & EPFO
Gujarat State Petronet Limited has a workforce of 255 employees on its EPFO records as of Oct 10, 2024, across 1 active EPFO establishment.
Employee count
255
Active EPFO establishments
1
Employee growth
-4.49%
GST
Gujarat State Petronet has 4 GST registrations: 3 active and 1 cancelled or inactive.
Total GSTINs
4
Active
3
Cancelled / inactive
1
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AABCG1812E1ZB | Gujarat | Active | 01 Jul 2017 |
| 24AABCG1812E2ZA | Gujarat | Active | 01 Jul 2017 |
| 07AABCG1812E1Z7 | Delhi | Active | 23 Aug 2017 |
To see the full GST registrations and return filing status of Gujarat State Petronet Limited, buy the company report.
Recent activity
Gujarat State Petronet Limited has 56 board changes on record since 2006: 9 appointments and 47 cessations. The latest: Sandeep Rajendraprasad Kumar was appointed as Additional Director on 28 Jan 2026.
Appointed
Sandeep Rajendraprasad Kumar was appointed as Additional Director.
Appointed
Avantikasing Aulakh was appointed as Managing Director.
Ceased
Milind Shivaram Torawane ceased to be Managing Director.
Appointed
Lokesh Agarwal was appointed as CFO.
Appointed
Jayant Misra was appointed as Additional Director.
AGM
Gujarat State Petronet Limited last Annual general meeting of members was held on 23 Sep 2025 as per latest MCA records.
Appointed
Manoj Kumar Das was appointed as Managing Director.
Filing
Gujarat State Petronet Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Ahmedabad.
Appointed
Pankaj Harishchandra Joshi was appointed as Managing Director.
Ceased
Bakul Harshadrai Dholakia ceased to be Director.
Appointed
Rishikesha Thiruvenkata Krishnan was appointed as Director.
Charges
A charge registered on 23 Feb 2021 via Charge ID 100426456 with Hdfc Bank Limited was fully satisfied on 19 Jul 2024.
121 earlier events are in the company report.
News
Frequently asked questions
Gujarat State Petronet is an active public limited state government company based in Gandhinagar, Gujarat, India. The company works in wind energy solutions, within the environment industry. It was incorporated on 23 December 1998 (28+ years old) and is registered under CIN L40200GJ1998SGC035188.
Gujarat State Petronet has 9 current directors and KMP:
- Pankaj Harishchandra Joshi - Managing Director
- Manoj Kumar Das - Managing Director
- Avantikasing Aulakh - Managing Director
- Raj Kumar - Managing Director
- Rishikesha Thiruvenkata Krishnan - Director
- Vanaja Narayanan Sarna - Director
- Sandeep Rajendraprasad Kumar - Additional Director
- Jayant Misra - Additional Director
- Lokesh Agarwal - Cfo
The latest financial statements of Gujarat State Petronet on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 23 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Gujarat State Petronet is 24AABCG1812E1ZB, registered in Gujarat. The company has 4 GST registrations in all, of which 3 are active and 1 is cancelled or inactive. Other active GSTINs include 24AABCG1812E2ZA (Gujarat), 07AABCG1812E1Z7 (Delhi).
The CIN (Corporate Identification Number) of Gujarat State Petronet is L40200GJ1998SGC035188. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Gujarat State Petronet is recorded as a listed company by MCA, but its shares were delisted from BSE on 12 Oct 2026 · merger, and no longer trade on a stock exchange.
Gujarat State Petronet has 260 court cases on record: 61 filed by the company and 205 filed against it. 54 are pending. Most are in the high courts.
Gujarat State Petronet was incorporated on 23 December 1998, making it 28+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Gujarat State Petronet has 27 deals on record (19 market trades, 3 funding rounds, 2 secondary share transfers), with disclosed funding of ₹272.01 Cr; the latest was in September 2024.
Sandeep Rajendraprasad Kumar was appointed as Additional Director on 28 Jan 2026. Avantikasing Aulakh was appointed as Managing Director on 24 Dec 2025. Milind Shivaram Torawane ceased to be Managing Director on 24 Dec 2025. Gujarat State Petronet has 56 board changes on record in total.
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