4 months after merger, GEL pays record Rs 324 cr dividend to Gujarat government

Four months after merging, State Public Sector Undertakings Gujarat Energy Limited (GEL) and GSPL Transmission Limited (GTL) have paid a record Rs 324 crore dividend to the Gujarat government for the financial year 2025-26. GEL contributed Rs 324 crore, while GTL contributed Rs 60.67 crore, marking the highest-ever dividend paid by any company under its control to the state government in a single year.

This record dividend was largely attributed to the recent merger of GEL and GTL, entities involved in piped gas distribution and transmission. Prior to the merger, GEL held the country's largest city gas distribution network, supplying piped natural gas to over 23 lakh households across six states. The merger, which took place in May 2025, transformed the company from Gujarat Gas Limited (GGL) to Gujarat Energy Ltd, with GEL's government stake rising to 38%.

The impact of this integration was reflected in the increased dividend payments to the Gujarat government. During the three financial years from 2022-23 to 2024-25, GGL paid a total of approximately ₹81.55 crore in dividends to the state. This new corporate structure has significantly boosted the financial benefits for the state, supporting development and public welfare initiatives.

GEL's Managing Director and GTL's Vice Chairperson, Avantika Singh, presented the dividend cheques to Chief Minister Bhupendra Patel in Gandhinagar, emphasizing the positive impact of the merger on the company's financial potential and contributions to the state.