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  • Business Today

    Full Throttle

    Dec 24, 2020 6 minutes
    BY P.B. JAYAKUMAR
    PHOTOGRAPH BY NANDAN DEV

    Can someone buying latest floor tiles for his home in a remote village influence profits and revenues of a city gas distribution (CGD) company which he has not even heard of? It can, in case of Gujarat Gas, India’s largest GGD company and one of the most profitable public sector undertakings. Actually, that is one of the reasons for Gujarat Gas Managing Director Sanjeev Kumar winning the BT’s Best CEO award in the oil and gas category, overtaking other two finalists in the sector, Reliance Industries’ Mukesh Ambani and E.S. Ranganathan of Indraprastha Gas.

    Ranked overall second after HDFC in Best CEO rankings, Gujarat Gas reported ₹ 10,384 crore income in FY20 with three-year compound annual growth rate (CAGR) of 26.59 per cent. Its profit after tax was ₹ 1,193.32 crore with three-year CAGR of 75.84 per cent.

    “We have longterm contracts and spot purchasing mechanisms, most of our licences are valid for 25 years and we have huge infrastructure”

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