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GUJARAT STATE PETRONET LIMITED (GSPL)

Industrial Services · Oil & Gas Pipelines · figures to Nov '26

Compare withRELIANCE INDUSTRIAL INFRASTRUC

Share price

Closing priceAdjusted for splits and bonus issues.

₹304.5 latest close · −1.8% over the last 90 sessions

₹300₹320₹340Apr 16May 14Jun 9Jul 2Jul 28Aug 22 ₹300₹320₹340Apr 16Jun 20Aug 22

₹304.5 month-end · −31.3% over 12 months

₹300₹400Aug '24Oct '24Jan '25Mar '25Jun '25Aug '25 ₹300₹400Aug '24Feb '25Aug '25

₹304.5 month-end · +26.0% over 3 years

₹300₹400Aug '22Mar '23Oct '23Jun '24Jan '25Aug '25 ₹300₹400Aug '22Feb '24Aug '25

₹304.5 month-end · +71.2% since Jan '19

₹200₹300₹400Jan '19May '20Sep '21Dec '22Apr '24Aug '25 ₹200₹300₹400Jan '19May '22Aug '25

52-week range ₹261.45 to ₹469.70 · 1-year volatility 31.7%

How rough has the ride been?

Maximum drawdown-43.3%recovered 2024-02
1-year volatility31.7%annualised

Drawdown from peak

0%−20%−40%202020212022202320242025−42.4% 0%−20%−40%202020222024−42.4%
Largest drawdowns

-43.3% (2021-08 peak to 2022-06 low, recovered 2024-02)

-42.6% (2020-01 peak to 2020-03 low, recovered 2021-03)

-41.8% (2024-09 peak to 2025-03 low, not yet recovered)

Where does it rank among Industrial Services peers?

Each cell is the company's percentile rank among its Industrial Services peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

  • ROCE42nd▼ 22 pts vs a year ago
  • Op. margin50th▼ 29 pts vs a year ago
  • Revenue growth30th▲ 11 pts vs a year ago
  • EPS growth16th▼ 15 pts vs a year ago
  • Debt/equity ↓89thflat vs a year ago
  • Cash cycle ↓74th▲ 6 pts vs a year ago
  • P/E ↓62nd▼ 27 pts vs a year ago
  • 12M momentum48th▲ 9 pts vs a year ago

Rank history

ROCE
Op. margin
Revenue growth
EPS growth
Debt/equity ↓
Cash cycle ↓
P/E ↓
12M momentum
Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26
Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Industrial Services sector page Watch it move against Industrial Services in the Observatory

Key figures

52-week range

₹261.45₹469.70
21% of the way from its 52-week low to its high

Price risk

1Y volatility
31.7%
Beta vs sector
1-year daily
0.54

Are profits backed by cash?

3 of 3checks within rangeAll clear
Other income reliance—Not enough data

Not enough reported data to compute this.

Tax rate—Not enough data

Not enough reported data to compute this.

Cash conversion1.44xWithin range

Operating cash flow divided by net profit over the last three fiscal years: 1.44x (cash from operations ₹8,884 cr, net profit ₹6,163 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow5 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 5. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history—Not enough data

Not enough reported data to compute this.

Capital work in progress10% of fixed assetsWithin range

Capital work-in-progress is 10% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days—Not enough data

Not enough reported data to compute this.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

  • Over 2 years, FIIs trimmed 1.8 pts; DIIs added 0.6 pts.
  • The number of shareholders rose from 1.6 lakh to 2.1 lakh (+31%) between Jun 2023 and Mar 2025.

Holdings, Mar '25

How each group changed

GroupJun '23Mar '25Change
Promoters37.6%37.6%0.0 pts
FIIs16.6%14.8%-1.8 pts
DIIs25.2%25.8%+0.6 pts
Public and others18.6%19.8%+1.2 pts

Number of shareholders

2.1 lakhshareholders+31% since Jun '23
1.6L1.9L2.1L2.4L Jun '23Dec '23Jun '24Dec '24Mar '25
Jun '23: 1.6 lakh
Sep '23: 1.7 lakh
Dec '23: 1.7 lakh
Mar '24: 1.8 lakh
Jun '24: 2.4 lakh
Sep '24: 2.2 lakh
Dec '24: 2.1 lakh
Mar '25: 2.1 lakh
 1.6L1.9L2.1L2.4L Jun '23Mar '24Dec '24Mar '25
Jun '23: 1.6 lakh
Sep '23: 1.7 lakh
Dec '23: 1.7 lakh
Mar '24: 1.8 lakh
Jun '24: 2.4 lakh
Sep '24: 2.2 lakh
Dec '24: 2.1 lakh
Mar '25: 2.1 lakh

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What changed?

30 events since Jun '20

  1. JunValuationP/E crossed above the 90th percentile of its own history to date (16.7x).
  2. JunPeer rankSlipped to the 3rd quartile of Industrial Services on ROCE (from the 2nd quartile).
  3. MarResultsYear-on-year EPS growth turned negative.
  4. MarPriceFell 42% from the Sep 2024 peak to the Mar 2025 low.
  5. MarPeer rankSlipped to the 3rd quartile of Industrial Services on operating margin (from the 2nd quartile).
  6. DecPeer rankSlipped to the bottom quartile of Industrial Services on EPS growth (from the 3rd quartile).
  7. SepPeer rankSlipped to the 2nd quartile of Industrial Services on operating margin (from the top quartile).
  8. AugPriceRegained the 2024-02 peak, 2 months after the low.
Show 22 earlier events
  1. AugValuationP/E crossed above the 90th percentile of its own history to date (15.1x).
  2. JunResultsYear-on-year EPS growth turned positive.
  3. JunPriceFell 31% from the Feb 2024 peak to the Jun 2024 low.
  4. JunPeer rankSlipped to the 2nd quartile of Industrial Services on ROCE (from the top quartile).
  5. FebPriceRegained the 2021-08 peak, 20 months after the low.
  6. JanValuationP/E crossed above the 90th percentile of its own history to date (13.6x).
  7. DecResultsYear-on-year EPS growth turned negative.
  8. JunResultsRevenue (TTM) reached a new high of ₹18,117 cr.
  9. MarDebtDebt / equity halved over 12 months to 0.09x.
  10. AugDebtDebt / equity halved over 12 months to 0.09x.
  11. JunResultsYear-on-year EPS growth turned positive.
  12. JunPriceFell 43% from the Aug 2021 peak to the Jun 2022 low.
  13. JunPeer rankSlipped to the 3rd quartile of Industrial Services on EPS growth (from the 2nd quartile).
  14. JanDebtDebt / equity halved over 12 months to 0.31x.
  15. JunResultsYear-on-year EPS growth turned negative.
  16. JunPeer rankSlipped to the 2nd quartile of Industrial Services on EPS growth (from the top quartile).
  17. JunDebtDebt / equity halved over 12 months to 0.31x.
  18. MarPriceRegained the 2020-01 peak, 12 months after the low.
  19. JanValuationP/E fell below the 10th percentile of its own history to date (6.5x).
  20. JunResultsRevenue (TTM) reached a new high of ₹12,244 cr.
  21. JunPeer rankMoved into the top quartile of Industrial Services on EPS growth (from the 2nd quartile).
  22. JunDebtDebt / equity fell below 1.0x (0.74x).

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history95 months · 2019-01 to 2026-11
MonthP/ERevenue (TTM)ROEROCEDebt / Equity
2026-11—————
2026-10—————
2026-09—————
2026-08—————
2026-07—————
2026-06—————
2026-05—————
2026-04—————
2026-03—————
2026-02—————
2026-01—————
2025-12—————
2025-11—————
2025-10—————
2025-09—————
2025-0815.5x₹17370 cr9.3%15.0%0.0x
2025-0716.0x₹17370 cr9.3%15.0%0.0x
2025-0616.7x₹17370 cr9.3%15.0%0.0x
2025-0513.5x₹17611 cr12.0%21.0%0.0x
2025-0413.5x₹17611 cr12.0%21.0%0.0x
2025-0312.0x₹17611 cr12.0%21.0%0.0x
2025-0210.1x₹17640 cr13.0%21.0%0.0x
2025-0112.7x₹17640 cr13.0%21.0%0.0x
2024-1213.4x₹17640 cr13.0%21.0%0.0x
2024-1111.8x₹17913 cr14.0%21.0%0.0x
2024-1012.9x₹17913 cr14.0%21.0%0.0x
2024-0914.1x₹17913 cr14.0%21.0%0.0x
2024-0815.1x₹17294 cr13.4%21.0%0.0x
2024-0711.5x₹17294 cr13.4%21.0%0.0x
2024-0610.1x₹17294 cr13.4%21.0%0.0x
2024-0510.5x₹17032 cr14.5%27.0%0.0x
2024-0410.7x₹17032 cr14.5%27.0%0.0x
2024-0312.8x₹17032 cr14.5%27.0%0.0x
2024-0213.8x₹16641 cr14.8%27.0%0.0x
2024-0113.6x₹16641 cr14.8%27.0%0.0x
2023-1211.3x₹16641 cr14.8%27.0%0.0x
2023-119.9x₹18117 cr16.5%27.0%0.0x
2023-109.2x₹18117 cr16.5%27.0%0.0x
2023-099.7x₹18117 cr16.5%27.0%0.0x
2023-089.5x₹18117 cr16.5%27.0%0.0x
2023-0710.0x₹18117 cr16.5%27.0%0.0x
2023-069.8x₹18117 cr16.5%27.0%0.0x
2023-0510.3x₹17991 cr18.7%28.0%0.1x
2023-049.8x₹17991 cr18.7%28.0%0.1x
2023-039.1x₹17991 cr18.7%28.0%0.1x
2023-029.7x₹17991 cr18.7%28.0%0.1x
2023-019.3x₹17991 cr18.7%28.0%0.1x
2022-129.1x₹17991 cr18.7%28.0%0.1x
2022-119.3x₹17991 cr18.7%28.0%0.1x
2022-107.8x₹17991 cr18.7%28.0%0.1x
2022-098.0x₹17991 cr18.7%28.0%0.1x
2022-088.3x₹17991 cr18.7%28.0%0.1x
2022-078.0x₹17991 cr18.7%28.0%0.1x
2022-067.6x₹17991 cr18.7%28.0%0.1x
2022-058.9x₹11535 cr22.8%31.0%0.3x
2022-049.2x₹11535 cr22.8%31.0%0.3x
2022-039.0x₹11535 cr22.8%31.0%0.3x
2022-0210.1x₹11535 cr22.8%31.0%0.3x
2022-0110.6x₹11535 cr22.8%31.0%0.3x
2021-1210.3x₹11535 cr22.8%31.0%0.3x
2021-1111.0x₹11535 cr22.8%31.0%0.3x
2021-1010.7x₹11535 cr22.8%31.0%0.3x
2021-0911.1x₹11535 cr22.8%31.0%0.3x
2021-0812.3x₹11535 cr22.8%31.0%0.3x
2021-0712.1x₹11535 cr22.8%31.0%0.3x
2021-0611.8x₹11535 cr22.8%31.0%0.3x
2021-058.8x₹12244 cr31.0%30.0%0.7x
2021-048.8x₹12244 cr31.0%30.0%0.7x
2021-039.0x₹12244 cr31.0%30.0%0.7x
2021-028.2x₹12244 cr31.0%30.0%0.7x
2021-016.5x₹12244 cr31.0%30.0%0.7x
2020-127.2x₹12244 cr31.0%30.0%0.7x
2020-117.1x₹12244 cr31.0%30.0%0.7x
2020-106.3x₹12244 cr31.0%30.0%0.7x
2020-096.8x₹12244 cr31.0%30.0%0.7x
2020-086.6x₹12244 cr31.0%30.0%0.7x
2020-076.7x₹12244 cr31.0%30.0%0.7x
2020-067.2x₹12244 cr31.0%30.0%0.7x
2020-0511.3x₹9345 cr24.0%25.0%1.4x
2020-0411.7x₹9345 cr24.0%25.0%1.4x
2020-039.7x₹9345 cr24.0%25.0%1.4x
2020-0212.7x₹9345 cr24.0%25.0%1.4x
2020-0114.3x₹9345 cr24.0%25.0%1.4x
2019-1212.4x₹9345 cr24.0%25.0%1.4x
2019-1112.2x₹9345 cr24.0%25.0%1.4x
2019-1011.8x₹9345 cr24.0%25.0%1.4x
2019-0912.3x₹9345 cr24.0%25.0%1.4x
2019-0812.4x₹9345 cr24.0%25.0%1.4x
2019-0712.0x₹9345 cr24.0%25.0%1.4x
2019-0611.0x₹9345 cr24.0%25.0%1.4x
2019-0514.6x₹7261 cr26.2%20.0%2.2x
2019-0415.0x₹7261 cr26.2%20.0%2.2x
2019-0314.4x₹7261 cr26.2%20.0%2.2x
2019-0212.0x₹7261 cr26.2%20.0%2.2x
2019-0113.5x₹7261 cr26.2%20.0%2.2x

Methodology and data notes

Methodology

Methodology and data notes

All figures come from public exchange prices and screener.in financial statements. Quarterly and annual results are shown from 60 days after the period end, so a month never uses a result before it would plausibly have been published. Statements are the latest versions, which may include later restatements.

Sector medians, percentiles and indices use today's listed companies in the sector (survivorship bias). Prices are adjusted for splits and bonus issues; around a corporate action the fundamentals may lag the price by up to a month, and affected sections are hidden.

The return decomposition uses price = P/E × net profit ÷ share count. The reverse DCF uses a fixed 12% cost of equity, a 10-year horizon and a 15x terminal P/E, and is an illustration only. Events, flags and twins follow fixed rules and thresholds described next to each section.

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