---
title: "Gujarat Gas Company Ltd(Merged) (GUJRATGAS) — Share Price, Financials & Analysis"
symbol: "GUJRATGAS"
company: "Gujarat Gas Company Ltd(Merged)"
canonical: "https://tapetide.com/stocks/GUJRATGAS"
nse_symbol: "GUJRATGAS"
generated_at: "2026-09-13T21:14:34.581Z"
---

# Gujarat Gas Company Ltd(Merged) (GUJRATGAS)

Canonical page: https://tapetide.com/stocks/GUJRATGAS

## Company

- **NSE Symbol:** GUJRATGAS
- **Stock Type:** DELISTED
- **Face Value:** ₹2
- **F&O Eligible:** No
- **Website:** gujaratgas.com

## About

Gujarat Gas Company Limited,incorporated in India, listed on the Bombay Stock Exchange Limited, and National Stock Exchange Limited, the company is engaged in the segment of Natural Gas Business.

## Latest Price

## Key Insights

### Strengths

- Company has reduced debt.

## Growth Rates

| Metric | 1Y |
| --- | --- |
| net income growth | 7% |
| revenue growth | -5% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2013 | Jun 2013 | Sep 2013 | Dec 2013 | Mar 2014 | Jun 2014 | Sep 2014 | Dec 2014 | Mar 2015 | Mar 2020 | Dec 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 768 | 751 | 832 | 780 | 772 | 688 | 681 | 598 | 546 | 2722 | 2886 | 3489 |
| Expenses | 696 | 596 | 645 | 646 | 698 | 559 | 571 | 492 | 459 | 2296 | 2271 | 2935 |
| Operating Profit | 72 | 156 | 187 | 134 | 74 | 130 | 110 | 107 | 87 | 426 | 615 | 554 |
| OPM % | 9 | 21 | 22 | 17 | 10 | 19 | 16 | 18 | 16 | 16 | 21 | 16 |
| Other Income | 26 | 13 | 11 | 17 | 22 | 26 | 18 | 17 | 19 | 19 | 20 | 20 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 42 | 24 | 18 |
| Depreciation | 19 | 19 | 19 | 20 | 20 | 15 | 16 | 15 | 14 | 80 | 86 | 87 |
| Profit before tax | 79 | 149 | 178 | 131 | 76 | 140 | 112 | 109 | 91 | 322 | 524 | 469 |
| Tax % | 25 | 33 | 33 | 31 | 34 | 31 | 31 | 29 | 31 | 22 | 25 | 25 |
| Net Profit | 60 | 101 | 119 | 91 | 50 | 97 | 77 | 77 | 63 | 250 | 392 | 351 |
| EPS in Rs | 4.62 | 7.82 | 9.28 | 7.07 | 3.84 | 7.56 | 6.02 | 6 | 4.88 | 19.52 | 30.58 | 27.35 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Mar 2014 15m | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 964 | 1245 | 1301 | 1420 | 1849 | 2419 | 3096 | 3903 | 10526 | 10042 |
| Expenses | 820 | 994 | 1067 | 1143 | 1435 | 2021 | 2686 | 3281 | 8892 | 7954 |
| Operating Profit | 145 | 251 | 234 | 277 | 414 | 398 | 410 | 622 | 1634 | 2088 |
| OPM % | 15 | 20 | 18 | 20 | 22 | 16 | 13 | 16 | 16 | 21 |
| Other Income | 21 | 18 | 43 | 29 | 24 | 56 | 66 | 90 | 84 | 76 |
| Interest | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 192 | 116 |
| Depreciation | 32 | 38 | 42 | 47 | 54 | 60 | 66 | 97 | 318 | 341 |
| Profit before tax | 131 | 230 | 235 | 259 | 383 | 393 | 409 | 614 | 1208 | 1707 |
| Tax % | 33 | 33 | 31 | 32 | 32 | 30 | 30 | 32 | 1 | 25 |
| Net Profit | 88 | 154 | 162 | 175 | 259 | 275 | 289 | 420 | 1199 | 1278 |
| EPS in Rs | — | — | — | 13.58 | 20.09 | 21.32 | 22.34 | 32.63 | 93.44 | 99.59 |
| Dividend Payout % | 18 | 13 | 12 | 59 | 60 | 103 | 31 | 28 | 0 | 11 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Mar 2014 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 13 | 13 | 13 | 26 | 26 | 26 | 26 | 26 | 138 | 138 |
| Reserves | 431 | 560 | 697 | 740 | 819 | 763 | 940 | 1222 | 3180 | 4374 |
| Borrowings | 104 | 126 | 142 | 170 | 222 | 14 | 0 | 0 | 1891 | 849 |
| Other Liabilities | 573 | 277 | 295 | 409 | 478 | 770 | 615 | 676 | 2717 | 3119 |
| Total Liabilities | 1122 | 977 | 1147 | 1344 | 1545 | 1573 | 1580 | 1924 | 7925 | 8480 |
| Fixed Assets | 418 | 462 | 482 | 581 | 636 | 664 | 789 | 892 | 5586 | 5966 |
| CWIP | 105 | 111 | 134 | 136 | 138 | 126 | 113 | 70 | 569 | 688 |
| Investments | 140 | 235 | 355 | 424 | 549 | 501 | 387 | 680 | 43 | 48 |
| Other Assets | 459 | 168 | 177 | 204 | 222 | 282 | 292 | 282 | 1728 | 1778 |
| Total Assets | 1122 | 977 | 1147 | 1344 | 1545 | 1573 | 1580 | 1924 | 7925 | 8480 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Mar 2014 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 109 | 188 | 206 | 176 | 285 | 304 | 330 | 506 | — | — |
| Cash from Investing Activity | -75 | -187 | -192 | -194 | -215 | -20 | -18 | -409 | — | — |
| Cash from Financing Activity | -34 | 1 | -9 | 4 | -69 | -279 | -284 | -98 | — | — |
| Net Cash Flow | 0 | 1 | 5 | -15 | 1 | 5 | 28 | -1 | — | — |
| Free Cash Flow | -33 | 96 | 116 | 27 | 173 | 197 | 162 | 328 | — | — |
| CFO/OP | 106 | 104 | 113 | 92 | 99 | 104 | 106 | 110 | — | — |

### Ratios

| Item | Dec 2006 | Dec 2007 | Dec 2008 | Dec 2009 | Dec 2010 | Dec 2011 | Dec 2012 | Mar 2014 | Mar 2020 | Mar 2021 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 32 | 26 | 27 | 29 | 28 | 25 | 22 | 17 | 18 | 28 |
| Inventory Days | 7 | 7 | 7 | 8 | 3 | 3 | 4 | 3 | 2 | 3 |
| Days Payable | 90 | 71 | 65 | 66 | 47 | 24 | 15 | 15 | 16 | 23 |
| Cash Conversion Cycle | -51 | -38 | -31 | -29 | -17 | 4 | 10 | 5 | 4 | 8 |
| Working Capital Days | -32 | -23 | -25 | -39 | -45 | -30 | -2 | -2 | -37 | -41 |
| ROCE % | 25 | 37 | 30 | 29 | 38 | 41 | 45 | 53 | — | 34 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 1 / 6 / 12

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 46.22 | Sell |
| EMA (10) | 45.24 | Sell |
| SMA (20) | 46.57 | Sell |
| EMA (20) | 46.47 | Sell |
| SMA (50) | 49.3 | Sell |
| EMA (50) | 49.37 | Sell |
| SMA (100) | 54.8 | Sell |
| EMA (100) | 51.02 | Sell |
| SMA (200) | 49.47 | Sell |
| EMA (200) | 48.99 | Sell |

### Oscillators — summary: **Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 42.87 | Neutral |
| MACD (12,26,9) | -1.57 | Sell |
| Stochastic (14,3,3) | 25.96 | Neutral |
| ADX (14) | 27.62 | Buy |
| Williams %R (14) | -67.09 | Neutral |
| ATR (14) | 2.91 | High Volatility |
| ROC (12) | -9.56 | Sell |
| Stoch RSI (14) | 28.04 | Neutral |
| UO (7,14,28) | 45.38 | Neutral |

## Filings & Documents

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2012 from nse](https://archives.nseindia.com/annual_reports/AR_825_GUJRATGAS_2012_2012_30072013175137.zip) |
| from nse | [Annual Report 2011 from nse](https://archives.nseindia.com/annual_reports/AR_GUJRATGAS_2011_2011_02072012101329.zip) |
| from nse | [Annual Report 2010 from nse](https://archives.nseindia.com/annual_reports/AR_GUJRATGAS_2010_2010_13062011100522.zip) |
| from bse | [Annual Report 2018 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2018/GUJARAT_GAS_CO_LTD-523477-MARCH-2018.PDF) |
| from bse | [Annual Report 2017 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2017/GUJARAT_GAS_CO_LTD-523477-MARCH-2017.PDF) |
| from bse | [Annual Report 2016 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2016/GUJARAT_GAS_CO_LTD-523477-MARCH-2016.PDF) |
| from bse | [Annual Report 2015 from bse](https://www.bseindia.com/HIS_ANN_RPT/HISTANNR/2015/GUJARAT_GAS_CO_LTD-523477-MARCH-2015.PDF) |
| from bse | [Annual Report 2014 from bse](https://www.bseindia.com/bseplus/AnnualReport/523477/5234770314.pdf) |
| from bse | [Annual Report 2014 from bse](http://www.bseindia.com/bseplus/AnnualReport/523477/5234770314.pdf) |
| from bse | [Annual Report 2012 from bse](https://www.bseindia.com/bseplus/AnnualReport/523477/5234771212.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T21:14:34.581Z.