Gandhinagar (Gujarat) [India], October 14 (ANI): Gujarat Energy Limited (GEL) and GSPL Transmission Limited (GTL), state government undertakings, have set a new financial benchmark by paying a total dividend of Rs 384.67 crore to the State Government for the financial year 2025-26.
According to a release issued by the government, the cheques for the dividend amount were presented to Chief Minister Bhupendra Patel in Gandhinagar by Avantika Singh, Managing Director of Gujarat Energy Limited and Vice Chairperson of GTL.
The event was also attended by Energy and Petrochemicals Minister Rushikesh Patel, Minister of State Kaushik Vekariya, and Chief Minister’s Principal Advisor Hasmukh Adhia.
The dividend paid by GEL and GSPL Transmission Limited is the highest-ever amount paid to the State Government in a single financial year by any company under its control, the release said.
The payment comprises Rs 324 crore from Gujarat Energy Limited and ₹60.67 crore from GSPL Transmission Limited. This financial contribution from both companies will play an important role not only in increasing the State’s revenue but also in supporting development-oriented and public welfare initiatives.
Chief Secretary and Chairman of GEL and GTL, Shri Manoj Kumar Das, described the payment of this dividend as “a historic moment for both GEL and GTL.”
Managing Director of GEL and Vice Chairperson of GTL, Avantika Singh, stated, “For years, the company’s ability to benefit the Government through dividends was significantly limited due to its legacy corporate structure. The Scheme of Arrangement has now proved decisive, unlocking the company’s true financial potential and creating an opportunity to make a stronger contribution to the State’s development and welfare initiatives.”
Notably, that the Scheme of Arrangement has strengthened the company’s financial capacity. The scheme, associated with the GSPC Group, received the necessary approvals from the State Government, the Boards of Directors and shareholders of the respective companies, as well as the Ministry of Corporate Affairs, Government of India. It was implemented on May 1, coinciding with Gujarat Gaurav Diwas, the release said.
Under this scheme, Gujarat Gas Limited has been renamed Gujarat Energy Limited (GEL) following the integration of Gujarat State Petroleum Corporation (GSPC) into Gujarat Gas Limited. Meanwhile, the gas transmission business previously undertaken by Gujarat State Petronet Limited (GSPL) is now operated by GSPL Transmission Limited (GTL).
Before the implementation of the Scheme of Arrangement, the State Government held approximately 6 per cent of the shares in Gujarat Gas Limited. Following the scheme, its shareholding increased to approximately 38 per cent. Similarly, the Government, which previously had no direct shareholding in GSPL Transmission Limited, now holds approximately 38 per cent.
As per the release, this new corporate structure has significantly increased the benefits accruing to the State Government through the financial performance and dividends of both companies.
The impact of the Scheme of Arrangement is clearly reflected in the dividend figures received by the Government. During the three financial years from 2022-23 to 2024-25, Gujarat Gas Limited paid a total dividend of approximately Rs 81.55 crore to the State Government.
In contrast, following the implementation of the Scheme of Arrangement, Gujarat Energy Limited paid a dividend of Rs 324 crore to the State Government in the single financial year 2025-26. Compared with the total dividends received over the preceding three years, the Government received nearly four times the amount in a single financial year, the release said.
Senior officials present on the occasion included Additional Chief Secretary, Finance Department, T Natarajan; Principal Secretary, Energy and Petrochemicals Department, Ashwini Kumar; and Principal Secretary to the Chief Minister, Sanjeev Kumar. (ANI)
Gujarat Energy Limited sets new financial record; pays State govt its highest-ever dividend of Rs 384.67 crore in single year
