Gandhinagar, Oct 14
The Gujarat government has received a record dividend of Rs 384.67 crore from two state-controlled companies, Gujarat Energy Limited and GSPL Transmission Limited, for the financial year 2025-26, following a restructuring that increased its shareholding in both entities.
The dividend is the highest amount paid to the state government in a single financial year by any company under its control, according to an official statement released on Wednesday.
Of the total amount, GEL contributed Rs 324 crore, while GTL paid Rs 60.67 crore. The cheques were presented to Chief Minister Bhupendra Patel in Gandhinagar by Avantika Singh, Managing Director of GEL and Vice-Chairperson of GTL.
Energy and Petrochemicals Minister Rushikesh Patel, Minister of State, Kaushik Vekariya, and the Chief Minister's Principal Advisor, Hasmukh Adhia, were also present.
The increase in the government's dividend income follows a Scheme of Arrangement involving companies in the Gujarat State Petroleum Corporation (GSPC) group, which came into effect on May 1 this year, coinciding with 'Gujarat Gaurav Diwas'.
Under the scheme, Gujarat Gas Limited was renamed Gujarat Energy Limited following the integration of GSPC into the company.
Meanwhile, the gas transmission business previously operated by Gujarat State Petronet Limited (GSPL) was transferred to GSPL Transmission Limited.
The restructuring also changed the state government's shareholding in the two companies. Its stake in Gujarat Gas Limited, which was approximately six per cent before the scheme, increased to around 38 per cent in GEL.
The government, which previously had no direct shareholding in GTL, now holds approximately 38 per cent in the transmission company.
The scheme received approvals from the state government, the boards and shareholders of the respective companies, and the Union Ministry of Corporate Affairs before its implementation.
The change in the corporate structure is reflected in the dividend figures. Gujarat Gas Limited paid the state government a total dividend of approximately Rs 81.55 crore over the three financial years from 2022-23 to 2024-25.
In comparison, GEL alone paid Rs 324 crore in 2025-26, nearly four times the amount received over the preceding three years.
Manoj Kumar Das, Chief Secretary and Chairman of GEL and GTL, described the payment as "a historic moment for both GEL and GTL".
Singh said the company's ability to contribute to the government through dividends had been significantly constrained for years by 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," she said.
The state government expects the dividend income to add to its revenue and support development and public welfare initiatives.
Senior officials present at the event included Additional Chief Secretary of Finance Department, T. Natarajan; Principal Secretary of Energy and Petrochemicals Department, Ashwini Kumar; and Principal Secretary to the Chief Minister, Sanjeev Kumar.
— IANS
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