Gujarat Gas

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Gujarat Gas Company Limited
Company type Public
BSE:  523477
NSE:  GUJRATGAS
Industry Oil and gas
PredecessorGujarat Gas Company Limited (GGCL)
GSPC Gas
GSPC Distribution Network Ltd.
Founded1980 (1980)
Founder Government of Gujarat
Headquarters
Gandhinagar
,
India
Area served
India
Key people
Pankaj Joshi
(Chairman)
RevenueIncrease2.svg₹10,610 crore (US$1.3 billion) (FY2019-20)
Increase2.svg₹1,718 crore (US$200 million) (FY2019-20)
Increase2.svg₹1,195 crore (US$140 million) (FY2019-20)
OwnerGujarat State Petronet (54.17%)
Website www.gujaratgas.com

Gujarat Gas Limited is an Indian natural gas distribution company, which operates primarily in Gujarat. It was established in 1980 and is headquartered in Gandhinagar. [1] It is India's largest city gas distribution (CGD) company.[ citation needed ]

Contents

History

Gujarat Gas Company Limited (GGCL) was incorporated in 1980, and is in the business of procurement and distribution of natural gas. The company went public in October 1991, listing on the Bombay Stock Exchange and the National Stock Exchange. The BG Group acquired a majority stake in the company in 1997. [2] In October 2012, the majority owner in the firm, BG Group, sold its 65% stake for a fee of around $470 million. The buyer was GSPC Gas, a unit of the state-run Gujarat State Petroleum Corporation (GSPC). [3] GSPC Gas and GGCL were merged in 2015 and the new company was named Gujarat Gas Limited. [4]

Operations

As of May 2015, Gujarat Gas Limited has City Gas Distribution (CGD) network in 649 human settlements (city, town, villages) in 19 districts of Gujarat and Union Territory of Dadra and Nagar Haveli and Thane GA (including Palghar district) of Maharashtra. [4]

As of 2017, it has the largest customer base in gas distribution sector in India: 10,80,000 domestic households, 2,835 industrial customers, 11,900 commercial and non-commercial customers, 233 CNG stations selling more than 7,65,000 kg of CNG per day serving to more than 1,60,000 vehicles per day. It has achieved the highest total daily gas sales volume in India, up to 6.5 million cubic metre per day at standard conditions. It market capitalisation was Rs. 10,600 crore (15 May 2015). [4] [5]

References

  1. ↑ "Company Facts – Gujarat Gas". CNBC TV18 Money Control. Retrieved 7 October 2011.
  2. ↑ "GGCL History". Gujarat Gas Company Limited. Archived from the original on 4 November 2011. Retrieved 7 October 2011.
  3. ↑ "BG offloads Gujarat Gas stake for $470 mln". Reuters. 3 October 2012. Archived from the original on 6 March 2016.
  4. 1 2 3 "GSPC Gas, GGCL merger completed". The Times of India. 17 May 2015.
  5. ↑ "From CEO's Desk | About Us". gujaratgas.com. Retrieved 24 June 2017.