Valuation Update With 7 Day Price Move • Apr 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹275, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 15x in the Gas Utilities industry in India. Total returns to shareholders of 8.9% over the past three years. Reported Earnings • Jan 23
Third quarter 2026 earnings released: EPS: ₹4.55 (vs ₹4.15 in 3Q 2025) Third quarter 2026 results: EPS: ₹4.55 (up from ₹4.15 in 3Q 2025). Revenue: ₹41.9b (down 4.0% from 3Q 2025). Net income: ₹2.57b (up 9.7% from 3Q 2025). Profit margin: 6.1% (up from 5.4% in 3Q 2025). The increase in margin was driven by lower expenses. Revenue is expected to fall by 96% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Gas Utilities industry in India. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Announcement • Jan 05
Gujarat State Petronet Limited Appoints Avantika Singh Aulakh as Additional Director, Effective 24 December, 2025 Gujarat State Petronet Limited informed that the Board of Directors of Gujarat State Petronet Limited (GSPL) vide its Circular Resolution dated 3rd January, 2026 has appointed Smt. Avantika Singh Aulakh, IAS (DIN: 07549438), as Additional Director effective 24 December, 2025. It is informed that Gujarat State Petroleum Corporation Limited has nominated Smt. Avantika Singh Aulakh, IAS as the Joint Managing Director on the Board of the Company. Smt. Avantika Singh Aulakh, IAS, is a senior officer of 2003 batch. Prior to her appointment as Joint Managing Director, she was Additional Principal Secretary to Hon'ble Chief Minister of Gujarat. She has done B.E. (Instrumentation & Cqntrol Engg.) from Netaji Subhas Institute of Technology, Delhi and Masters in Public Administration from Harvard University's John F. Kennedy School of Government. Throughout her two-decade long career in Civil Services, she has held various crucial administrative positions in the Government of Gujarat. She has served as District Collector in multiple districts including Ahmedabad, Vadodara, Bharuch, and Anand. She has been accorded the Best District Collector award for Vadodara district (2015-16) and Bharuch district (2012-13) by the State Government. She has also served as District Development Officer in Anand, Gandhinagar districts and as Deputy Secretary, Energy and Petrochemicals Dept. and Director of Petroleum in the State Government. She received the National Award for Best Electoral Practices in 2012 and 2017 from the Election Commission of India. As Collector Ahmedabad, she also received the National Level Beti Bachao Beti Padhao Scheme award from Government of India in 2018. Her diverse experience includes serving as Vice Chairman & CEO of Gujarat Maritime Board, CEO of Gujarat Infrastructure Development Board, MD of Gujarat Rail Infrastructure Development Corporation Limited and Director of Technical Education, reflecting her versatility in handling both infrastructure development and educational initiatives. She has enhanced her expertise through numerous specialized training programs in fiscal policy, public-private partnerships and project management. She was/is holding directorial positions on the boards of several prominent companies, including Gujarat Pipavav Port Limited, GSPC LNG Limited, Dholera International Airport Company Limited, Gujarat Gas Limited and Gujarat State Petroleum Corporation Limited. 
