Gujarat Gas Limited (GUJGASLTD) — Financial Results(3 announcements)

Investor Takeaways

Overall Tone: Neutral based on the numbers only.

Key Financial Highlights

What Changed

Gujarat Gas Limited reported a 9% year-on-year decline in Q4 revenue to ₹5,976 crores, down from ₹6,560 crores in the same quarter of the previous fiscal year. Full-year revenue also decreased by 12.6% to ₹24,198 crores from ₹27,718 crores. Despite this revenue pressure, EBITDA showed strong growth, rising 18% YoY in Q4 to ₹943 crores and reaching ₹3,772 crores for the full year. Net profit for the full year stood at ₹2,299 crores, with Q4 PAT at ₹521 crores. The company declared a final dividend of ₹8.90 per share, equivalent to 445% of face value, pending shareholder approval. Additionally, the company completed the GSPC Group Composite Scheme of Arrangement, transitioned to a new corporate identity, and expanded its PNG network to 2,835 societies (4.86 lakh households) by May 2026, adding 7 new CNG stations and boosting gas consumption in Morbi’s ceramic industry. The board approved the Q4 and FY26 results and recommended the dividend.

Peer Comparison

Gujarat Gas Limited trades at a P/E ratio of 20.05, which is slightly higher than ONGC and Coal India but comparable to Reliance Industries. The company’s ROE and ROCE are not provided in the current data.

Risks & Concerns

Quarterly Trend

Investor Takeaways

Overall Tone: Neutral

Key Financial Highlights

What Changed

The company reported consolidated revenue of ₹24,972.21 crores and net profit of ₹2,018.91 crores for FY2026, reflecting restated figures following restructuring. The board approved audited results and recommended a final dividend of ₹8.90 per share. Four independent directors were reappointed, and new senior management appointments were disclosed. Contingent liabilities were quantified at ₹2,908.66 crores related to disputed tax demands and Vedanta arbitration. An unmodified auditor opinion confirmed the accuracy of the financial statements. Quarterly performance showed fluctuating profitability, with Q4FY24 profit at ₹410.48 crores and OPM of 13.77%, declining to ₹220.99 crores and 8.78% OPM in Q3FY25.

Peer Comparison

Gujarat Gas Limited trades at a P/E multiple in line with Reliance Industries but below peers like ONGC and Coal India, which exhibit lower valuation multiples. However, its ROE and ROCE metrics were not provided in the filing.

Risks & Concerns

Quarterly Trend

Investor Takeaways

Overall Tone: Neutral

Key Financial Highlights

What Changed

Gujarat Energy Limited reported FY2025-26 financial results with revenue of ₹32,240.52 crores and net profit of ₹2,018.91 crores. The company recorded a significant impairment charge of ₹524.88 crores related to cash calls receivable and disclosed contingent liabilities totaling ₹1,688.66 crores from disputed tax demands. Additionally, it faces potential arbitration claims of ₹1,200 crores from Vedanta. The firm completed a major restructuring through the amalgamation of GSPC, GSPL, and GEL into itself effective 1 April 2024, and demerged its gas transmission business into GSPL Transmission Limited effective 1 April 2025. Independent directors were reappointed for second terms, and senior management changes were implemented effective 30 May 2026. The auditor confirmed the financial statements were prepared in accordance with Ind AS and SEBI LODR, with no modified opinion. The company recommended a final dividend of ₹8.90 per share (face value ₹2), subject to shareholder approval at the AGM.

Peer Comparison

Gujarat Energy Limited's P/E ratio of 20.05 is comparable to Reliance Industries' 21.73 but significantly higher than ONGC's 9.93 and Coal India's 9.54, indicating market expectations of higher growth or lower risk relative to these peers.

Risks & Concerns

Quarterly Trend

About Gujarat Gas Limited (GUJGASLTD)

Oil Gas & Consumable Fuels · Gas · Listed on NSE

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