-Posts a consolidated net profit of about Rs. 156 crore for FY 2016
-Recommends a dividend of Rs. 2.5 per Equity Share
-Commissioned new volumes of 6,70,000 scmd in industrial segment
-Invested Rs. 550 crore during 2015-16 to grow infrastructure

Gandhinagar

India’s largest City Gas Distribution company, Gujarat Gas Limited reported a consolidated net profit of Rs. 156 crore in financial year 2015-16, on revenue of Rs 6,051 crore. The Company’s Board recommended a dividend of Rs 2.5 per Equity share of face value of Rs 10 each.

The Company invested Rs 550 crore during the year to grow its pipeline infrastructure, setting up CNG stations and upgrading its systems.

“The Company commissioned new volumes of 6, 70,000 scmd in the industrial segment. We have connected more than 71,000 new domestic connections and have added 16 new CNG stations. We also now have a focused new application development team working exclusively to develop new gas applications” said Mr. Nitin Patil, In-charge Chief Executive of Gujarat Gas Limited.

Gujarat constitutes approx. 48% of total PNG domestic connections of India and out of which 73% of total PNG domestic connections of Gujarat are connected by Gujarat Gas Ltd.36% of total CNG stations of India are in Gujarat and 66% of total CNG stations of Gujarat are owned by Gujarat Gas Ltd.(Source PPAC)

It is the largest CGD company in India, with highest reach in cities as well as in rural areas. It currently operates in 17 districts in the state of Gujarat and 2 districts at the outskirts of Gujarat State. It touches approximately 12% of Gujarat’s population on a daily basis. This has been made possible by the expertise which the company acquired over a period of 25 years in the business.

Gujarat Gas Limited, in an attempt to grow and retain the leadership position of being the Largest CGD in the country, won Geographical Areas of Thane (excluding areas already authorised) including the district of Palghar and the Geographical Area of Union Territory of Dadra and Nagar Haveli in Financial Year 2015-16. This is in addition to other opportunities already won Bhavnagar, Jamnagar and Kutch (West)in the Financial Year 2014-15.The company has also bid for new Geographical Areas in Gujarat in Petroleum and Natural Gas Regulatory Board’s 6th bidding round.

About the company

Two City Gas Distribution businesses of GSPC Group, Gujarat Gas Company Limited and GSPC Gas Company Limited have merged under the scheme of amalgamation and arrangement w.e.f. 15th May, 2015. The new amalgamated entity, Gujarat Gas Limited (formerly known as GSPC Distribution Networks Limited), has emerged as India’s largest city gas distribution player with presence spread across 19 Districts in the State of Gujarat and Union Territory of Dadra Nagar Haveli and Thane GA which includes Palghar district of Maharashtra. Together, they now command unparalleled resources, expertise and execution skills. The new entity has India’s largest customer base in major user segments.

– DeshGujarat