Gujarat Gas (formerly Gujarat Gas Company) is engaged in processing, transmission, and distribution of natural gas. It supplies gas to industrial, commercial and domestic customers.
Gujarat Gas Limitedis India’s largest gas distribution company with 25 CGD licenses spread across 41 districts in 6 states and 1 Union territory.
The company has more than 24,000 kms. of gas pipeline network. It has more than 375 CNG stations and distributes approximately 9.30 mmscmd of natural gas to over 14,00,000 households, approximately 2 lakh CNG vehicles (fuelled per day) and to more than 3700 industrial customers,providing strong revenue diversity.
Gujarat Gas Company Limited (GGCL) was founded in 1980by went public in October 1991, listing on the Bombay Stock Exchange and the National Stock Exchange.
The company has been part of the BG Group portfolio since 1997. BG Group has a 65.12% controlling stake in GGCL and public hold the remaining 34.88% of shares.
In October 2012, BG Group, the majority owner in the firm sold its 65% stake for $470 million to GSPC Gas, a unit of the state-run Gujarat State Petroleum Corporation (GSPC).
GSPC Gas and GGCL were merged in 2015 and the new company was named Gujarat Gas Limited.
The company has characteristically been responsible for several milestones in the hydrocarbon sector and has successfully redefined the E & P (exploration and production) scenario in the country.
Gujarat Gas Limited is a Mid Cap company with a market capital of Rs 15626.46 Crore.
Dr. J. N. Singh, IAS (Retd.) is the Chairman of the Board of Directors and Mr. Sanjeev Kumar, IAS is the Managing Director.
On December 24, 2019, CRISIL had upgraded its ratings on the bank facilities of GGL to ‘CRISIL AA+/Stable’ from ‘CRISIL AA/Positive’.
The rating upgrade reflects CRISIL’s expectations of an improvement in GGL’s credit profile over the medium term.
Sustainable improvement in cash accruals is expected to improve GGL’s financial risk profile notwithstanding the sizeable capital expenditure (capex) programme.
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