About Gujarat Urja Vikas Nigam Limited
Data last updated:
Gujarat Urja Vikas Nigam Limited is a public limited state government company based in Vadodara, Gujarat, India. It operates in the power transmission and distribution services segment of the energy and power sector. It was incorporated on 22 December 2004 and has been in existence for over 22 years.
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN U40109GJ2004SGC045195. Its GSTIN is 24AACCG2861L1ZK (Gujarat).
The company has an authorised share capital of ₹45,000 Cr and a paid-up capital of ₹43,492 Cr. It is led by directors including Jenu Devan (Managing Director) and Jai Prakash Shivahare (Managing Director).
Its last annual general meeting (AGM) was held on 30 December 2024, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Sardar Patel Vidyut Bhavan Race Corse, Vadodara, Gujarat, India – 390007.
As per the financials filed for FY 2025, the company reported a revenue of ₹88,896 Cr, a growth of 1% compared to the previous year. For the same year it recorded a net profit of ₹5,451.54 Cr (net margin 6.1%) and EBITDA of ₹15,434 Cr (EBITDA margin 17.4%). Revenue has grown at a compounded annual rate (CAGR) of 12% over three years and 11% over five years.
The company has about 1,123 employees on its provident fund (EPFO) records. Its group structure includes 6 subsidiaries.
The company is associated with 1 brand: GETRI. As per MCA filings, the company has open charges of ₹3,252.95 Cr on record. Court records list 19,935 cases involving the company, including 18,721 filed by the company and 1,215 filed against it; 453 cases are pending. The company has 13 deals on record (7 rights issues, 6 funding rounds), with disclosed funding of ₹5,429.04 Cr; the latest was in April 2024. Its 4 peer companies in the Power industry (Transmission and Distribution), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 2 larger and 2 smaller; the largest is U. P. Power Corporation Limited with revenue of ₹1,04,532 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website guvnl.com.
Company details
Contact details
Gujarat Urja Vikas Nigam Limited's registered office is in Vadodara, Gujarat. Its website is guvnl.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered AddressSardar Patel Vidyut Bhavan Race Corse, Vadodara, Gujarat, India – 390007
- IndustryEnergy and Power, Power Transmission & Distribution Services
To see the full contact details of Gujarat Urja Vikas Nigam Limited, buy the company report.
- 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
Business activity
The main business activity of Gujarat Urja Vikas Nigam is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Gujarat Urja Vikas Nigam Limited, buy the company report.
Financials of Gujarat Urja Vikas Nigam Limited
FY 2024 filings availableGujarat Urja Vikas Nigam Limited reported revenue of ₹88,896 Cr (up 1% YoY) for FY 2025.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 11% over five years, including 1% growth in the latest year. EBITDA fell 7% 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 | |||||
| Cost of Materials Consumed | |||||
| Employee Benefit Expense | |||||
| Finance Costs | |||||
| Depreciation and Amortisation | |||||
| Other Expenses | |||||
| Total Expenses | |||||
| EBITDA | ₹15,434 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹5,451.54 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 | 17.4% | ||||
| Net Profit Margin | 6.1% | ||||
| 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 Urja Vikas Nigam Limited, buy the company report.
Board of directors and KMP of Gujarat Urja Vikas Nigam Limited
Gujarat Urja Vikas Nigam Limited currently reports 9 directors and 1 key managerial person. 50 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Shreyas Jayasimha | Director | 16 Jan 2024 | 2 Years 9 Months | Current |
| Shweta Teotia | Whole-Time Director | 12 Aug 2024 | 2 Years 2 Months | Current |
| Sobhesh Kumar Agarwalla Also directs: NSE Ifsc Limited | Director | 16 Jan 2024 | 2 Years 9 Months | Current |
| Preeti Sharma | Whole-Time Director | 09 May 2025 | 1 Years 6 Months | Current |
| Kamlesh Kumar Jangid | Whole-Time Director | 06 Feb 2023 | 3 Years 9 Months | Current |
| Jenu Devan | Managing Director | 06 Nov 2025 | 1 Years 0 Months | Current |
Peer comparison
Gujarat Urja Vikas Nigam Limited is compared with the 4 companies closest to it by revenue in the Power industry (Transmission and Distribution), with the same principal business activity (electric power generation, transmission and distribution), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| U. P. Power Corporation Limited | ₹1,04,532 Cr (FY 2025) | 3.0% | Uttar Pradesh, India | |||
| Tamil Nadu Power Distribution Corporation Limited | ₹98,884 Cr (FY 2024) | 20.0% | Chennai, Tamil Nadu, India | |||
| Gujarat Urja Vikas Nigam Limitedthis company | ₹88,896 Cr (FY 2025) | ₹5,451.54 Cr | 6.1% | 1.0% | 1,123 | Vadodara, Gujarat, India |
| Bangalore Electricity Supply Company Limited | ₹33,048 Cr (FY 2025) | -3.0% | Bangalore, Karnataka, India | |||
| Pashchimanchal Vidyut Vitran Nigam Limited | ₹29,859 Cr (FY 2025) | 8.0% | Meerut, Uttar Pradesh, India |
To see the full peer comparison of Gujarat Urja Vikas Nigam Limited, buy the company report.
Auditor
Gujarat Urja Vikas Nigam Limited is audited by JLN US & Co for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| JLN US & Co | FY 2023 | 101543W |
Shareholding
The shareholding of Gujarat Urja Vikas Nigam Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Gujarat Urja Vikas Nigam Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 08 Jan 2007 | 10033787 | Others | ₹3,252.95 Cr | Open |
To see the full charge records of Gujarat Urja Vikas Nigam Limited, buy the company report.
Total charge records: 1 View all charges
Deals & funding
Gujarat Urja Vikas Nigam Limited has 13 deals on record (7 rights issues, 6 funding rounds), with disclosed funding of ₹5,429.04 Cr; the latest was in April 2024.
Deals on record (5 of 13)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Apr 2024 | Rights issue | ₹6,569.78 Cr | Investors: an individual |
| Oct 2022 | Rights issue | ₹4,598.12 Cr | Investors: an individual |
| Feb 2021 | Rights issue | ₹6,570.9 Cr | Investors: an individual |
| Jul 2019 | Rights issue | ₹4,487.45 Cr | Investors: an individual |
| Oct 2017 | Rights issue | ₹4,821.1 Cr | Investors: an individual |
To see the full deal history of Gujarat Urja Vikas Nigam 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 Urja Vikas Nigam Limited has 19,935 court cases on record: 18,721 filed by Gujarat Urja Vikas Nigam, 1,215 filed against it. 453 cases are pending and 19,482 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 18,739 | 199 | 149 |
| High courts | 1,052 | 929 | 248 |
| Supreme Court | 136 | 84 | 54 |
| NCLAT | 5 | 1 | 2 |
| NCLT | 3 | 2 | 0 |
Cases on record (5 of 19,935)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (0901-Civil Law : SLPs arising out of interlocutory applications in civil proceedings, amendment of pleadings, time limits for pleadings, interim injunction, addition/deletion of parties, etc.) | Filed against the company by M/S Tarini Infrastructure Ltd | Disposed |
| Supreme Court | Court case (1601-Direct Taxation : Income Tax Act, 1961, Wealth Tax Act, 1957, Gift Tax Act, 1958, Excess Profits Tax Act, 1940, Business Profit Tax Act, 1947 [other than matters covered by categories 1602-1605]) | Filed against the company by The Principal Commissioner of Income Tax 1 | Pending |
| High Court of Gujarat | Special civil application | Filed against the company by M/S. Airona Tiles Ltd. | Pending |
| High Court of Gujarat | Special civil application | Filed against the company by Airolam Limited | Pending |
| Supreme Court | Court case | Filed against the company by Tata Power Company Limited | Pending |
To see the full case history of Gujarat Urja Vikas Nigam 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 Urja Vikas Nigam Limited was last rated by Care on 31 Mar 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 31 Mar 2026 |
To see the full credit ratings and regulatory alerts of Gujarat Urja Vikas Nigam Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Gujarat Urja Vikas Nigam Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
Group structure & subsidiaries
Gujarat Urja Vikas Nigam has 6 subsidiary companies and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Gujarat State Electricity Corporation Limited | U40100GJ1993SGC019988 | |
| Gujarat Energy Transmission Corporation Limited | U40100GJ1999SGC036018 | |
| Uttar Gujarat Vij Company Limited | U40102GJ2003SGC042906 | |
| Madhya Gujarat Vij Company Limited | U40102GJ2003SGC042907 | |
| Paschim Gujarat Vij Company Limited | U40102GJ2003SGC042908 | |
| Dakshin Gujarat Vij Company Limited | U40102GJ2003SGC042909 |
To see the full group structure of Gujarat Urja Vikas Nigam Limited, buy the company report.
Employees & EPFO
Gujarat Urja Vikas Nigam Limited has a workforce of 1,123 employees on its EPFO records as of May 2026, across 2 active EPFO establishments.
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 1,123 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2015-16 | |
| FY 2012-13 | |
| FY 2011-12 |
To see the full employee and EPFO history of Gujarat Urja Vikas Nigam Limited, buy the company report.
GST
Gujarat Urja Vikas Nigam has 1 GST registration: 1 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 24AACCG2861L1ZK | Gujarat | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Gujarat Urja Vikas Nigam Limited, buy the company report.
Recent activity
Gujarat Urja Vikas Nigam Limited has 59 board changes on record since 2006: 10 appointments and 49 cessations. The latest: Syed Jawaid Haider ceased to be Nominee Director on 31 Dec 2025.
52 earlier events are in the company report.
News
From our blog
Frequently asked questions
Gujarat Urja Vikas Nigam is an active public limited state government company based in Vadodara, Gujarat, India. The company works in power transmission and distribution services, within the energy and power industry. It was incorporated on 22 December 2004 (22+ years old) and is registered under CIN U40109GJ2004SGC045195.
Gujarat Urja Vikas Nigam has 10 current directors and KMP:
- Jenu Devan - Managing Director
- Jai Prakash Shivahare - Managing Director
- Shweta Teotia - Whole-Time Director
- Preeti Sharma - Whole-Time Director
- Kamlesh Kumar Jangid - Whole-Time Director
- Shreyas Jayasimha - Director
- Sobhesh Kumar Agarwalla - Director
- Rajat Moona - Director
- Stuti Charan - Nominee Director
- Sourav Nandy - Cfo
The latest financial statements of Gujarat Urja Vikas Nigam on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 30 December 2024. Year-wise statements from 2015 are in the company report.
The GSTIN of Gujarat Urja Vikas Nigam is 24AACCG2861L1ZK, registered in Gujarat.
The CIN (Corporate Identification Number) of Gujarat Urja Vikas Nigam is U40109GJ2004SGC045195. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Gujarat Urja Vikas Nigam has 19,935 court cases on record: 18,721 filed by the company and 1,215 filed against it. 453 are pending. Most are in the district courts.
Gujarat Urja Vikas Nigam was incorporated on 22 December 2004, making it 22+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Gujarat Urja Vikas Nigam has 13 deals on record (7 rights issues, 6 funding rounds), with disclosed funding of ₹5,429.04 Cr; the latest was in April 2024.
The peers of Gujarat Urja Vikas Nigam by revenue are U. P. Power Corporation Limited, Tamil Nadu Power Distribution Corporation Limited, Bangalore Electricity Supply Company Limited, Pashchimanchal Vidyut Vitran Nigam Limited, all in the Power industry (Transmission and Distribution), with the same principal business activity (electric power generation, transmission and distribution).
Syed Jawaid Haider ceased to be Nominee Director on 31 Dec 2025. Jenu Devan was appointed as Managing Director on 06 Nov 2025. Jenu Devan ceased to be Additional Director on 24 Jun 2025. Gujarat Urja Vikas Nigam has 59 board changes on record in total.
Gujarat Urja Vikas Nigam can be reached through the website guvnl.com. Its registered office is in Vadodara, Gujarat, India.
Sample company reports
The same report you get when you buy one: financials, directors, ownership, deals, charges, legal cases, brands and filings, with the Excel workbook alongside.
