Gujarat Gas Limited (GUJGASLTD) — Financial Results

Investor Takeaways

Overall Tone: Neutral

Key Financial Highlights

What Changed

The filing reflects a significant restructuring event involving the amalgamation and demerger of Gujarat Gas Limited (GUJGASLTD) into Gujarat Energy Limited, effective April 1, 2025, with the name change finalized on May 1, 2026. This reorganization created a capital reserve of ₹2,427.68 crores and adjusted retained earnings by ₹6,399.98 crores. The company now operates through four segments: Exploration and Production (E&P), gas trading, power, and city gas, with GTBU classified as discontinued. Revenue increased to ₹28,869.54 crores in FY2026 from ₹24,198 crores in FY2025, and Profit After Tax rose to ₹3,978.72 crores from ₹1,481.30 crores in FY2025. The auditor confirmed no modified opinion, citing full compliance with accounting standards and validity of going concern. However, the financials presented in the current context show a sharp decline in reported revenue and profit compared to the consolidated figures, indicating a possible shift in reporting scope post-restructuring. The recommended dividend of ₹8.90 per share reflects shareholder return intentions despite ongoing contingent liabilities.

Peer Comparison

Gujarat Gas Limited trades at a P/E ratio in line with Reliance Industries but below peers like Coal India, which has a significantly higher ROE and ROCE. The company’s capital intensity and operational focus on gas distribution differentiate it within the sector.

Risks & Concerns

Quarterly Trend

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About Gujarat Gas Limited (GUJGASLTD)

Oil Gas & Consumable Fuels · Gas · Listed on NSE

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