Gujarat Energy and GSPL Transmission paid the state govt a record Rs 384.67 cr dividend for FY26, their highest in a single year.

Gujarat Energy Limited, the new name of Gujarat Gas Limited, paid Rs 324 crore of that. GSPL Transmission Limited paid the remaining Rs 60.67 crore.

Avantika Singh, managing director of Gujarat Energy, handed the cheques to Chief Minister Bhupendra Patel in Gandhinagar on 14 October.

Energy Minister Rishikesh Patel attended. The state issued its official release on Wednesday.

Chief Secretary M K Das chairs both companies. He called the payout a defining moment.

The jump comes down to a merger. On 1 May 2026, GSPC merged into Gujarat Gas, which then took the name Gujarat Energy.

The company then moved its gas transmission business into a separate firm, GSPL Transmission.

The merger also changed who owns what. The state’s stake in Gujarat Energy rose from about 6% to about 38%.

Sources reports it also took a direct 38% stake in GSPL Transmission. More shares meant more dividend.

The state held 36.40 crore Gujarat Energy shares this year against 4.49 crore under the old Gujarat Gas.

The dividend per share rose too, to Rs 8.90 from Rs 5.82. Together, those two shifts lifted Gujarat Energy’s payout to the state to more than 12 times last year’s Rs 26.18 crore.

A dividend is the share of profit a company pays out to its owners. Because the state is now a much bigger owner, it collects a much bigger share.

Before the merger, the state received about Rs 81.55 crore from Gujarat Gas across the three years from 2022-23 to 2024-25 combined.

There was one more update on 13 October. NSE and BSE approved Gujarat Energy’s request to reclassify Gujarat State Energy Generation Limited from a promoter, or controlling owner, to an ordinary public shareholder.

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