Gujarat Gas released its investor presentation for the fourth quarter and financial year ended March 31, 2026, on June 1, 2026. The filing, made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, outlines the financial and operational performance of the newly merged entity, formerly known as Gujarat Gas Limited. The presentation will be used for a post-earnings conference call with analysts and investors.

Financial Performance

The financial results for Q4 FY26 reflect the standalone company’s performance post-Scheme of Arrangement, with comparatives noted as not being like-for-like. The quarter included a one-time exceptional item of ₹561 Crores. EBITDA figures provided are prior to these exceptional items. For the full year FY26, the company reported its first set of merged financials following the amalgamation of GSPC, GSPL, and GSPC Energy. The financials for FY24 and FY25 have been reinstated to reflect the effects of the scheme.

Scheme of Arrangement Status

The corporate restructuring involving the amalgamation of GSPC, GSPL, and GSPC Energy into Gujarat Gas Limited, and the demerger of the Gas Transmission Business Undertaking into GSPL Transmission Limited (GTL), received final approval from the Ministry of Corporate Affairs on April 17, 2026. The scheme was made effective from May 1, 2026. Consequently, Gujarat Gas Limited was renamed to Gujarat Energy Limited effective May 14, 2026. Listing and trading permissions for the shares of the transferee and resulting companies are currently in progress or awaited.

Operational Updates

Gujarat Energy described itself as an integrated natural gas company with end-to-end value chain coverage. The City Gas Distribution (CGD) segment, identified as India's largest, operates across 27 geographical authorizations covering 6 states and 1 Union Territory. Operational data for Q4 FY26 and FY26 was provided, with volumes measured in Million Metric Standard Cubic Meters per Day (MMSCMD). The Gas Trading business reported an average traded volume of approximately 12 mmscmd over the last five years and had imported over 480 LNG cargoes till May 2026. The Exploration and Production segment reported data on operated and non-operated fields, while the Renewable business highlighted a combined wind capacity of 123.9 MW across five farms in Gujarat.

Governance and Capital Allocation

The presentation detailed the company's Board of Directors, chaired by Shri Manoj Kumar Das, IAS, who serves as the Chief Secretary of the Government of Gujarat. Other key directors include Smt. Avantika Singh Aulakh, IAS, as Managing Director. The company outlined its capital allocation strategy, noting that dividends are subject to the approval of the Annual General Meeting. Earnings Per Share (EPS) for FY26 were calculated based on an expanded equity base of 93.82 Crore shares.

Gujarat Energy Limited reported a net profit of ₹2,299 crore for the financial year ended March 31, 2026, a decrease from the restated net profit of ₹4,204.02 crore in the previous year. Revenue from operations for FY26 stood at ₹24,198 crore, compared to the restated ₹27,717.65 crore in FY25. The Board of Directors, at its meeting held on May 30, 2026, approved the audited standalone and consolidated financial results and recommended a final dividend of ₹8.90 per equity share of ₹2 each, aggregating to ₹835.03 crore, subject to shareholder approval at the Annual General Meeting.

Financial Performance

The company's standalone profit after tax from continuing operations for FY26 was ₹2,298.55 crore. For the quarter ended March 31, 2026, the standalone net profit from continuing operations was ₹520.58 crore (₹5.21B), compared to ₹6.92B in the previous quarter (QoQ). Revenue from operations for Q4 stood at ₹5,976 crore, compared to ₹6,560 crore in Q4 FY25. Q4 EBITDA came in at ₹943 crore versus ₹790 crore in Q4 FY25, with the EBITDA margin contracting to 13.10% from 15.59% QoQ. The statutory auditors, M/s. Ashok Chhajed & Associates, issued an unmodified opinion on the audited financial results.

The following table summarises the key annual financial metrics:

The Q4 performance metrics on a sequential basis are presented below:

Operational Highlights

Gujarat Energy Limited achieved its highest ever CNG volume of 3.60 mmscmd in Q4 FY26, a 12% increase from 3.22 mmscmd in Q4 FY25. The company operates 839 CNG stations and added 7 new stations in Q4 FY26. In the PNG segment, the company added 35,400+ new domestic customers in Q4 FY26, serving over 24.18 lakh households. Total pipeline network spans ~45,250+ km across 6 states and 1 Union Territory, with an investment of ₹561 crore in CGD infrastructure during the year.

Board Decisions and Corporate Actions

In addition to the financial results, the Board approved the re-appointment of four Independent Directors—Prof. Yogesh Singh, Shri Bhadresh Mehta, Shri Balwant Singh (IAS Retd.), and Dr. Rekha Jain—for a second term of three years. The Board also approved changes in senior management personnel and a change in the registered office address to "Gujarat Energy Bhavan, Behind Udyog Bhavan, Sector-H, Gandhinagar, Gujarat - 382010".

Pursuant to the Composite Scheme of Amalgamation and Arrangement, the Board had previously approved the allotment of 62,27,14,719 equity shares to eligible shareholders of Gujarat State Petroleum Corporation Limited (GSPC) and Gujarat State Petronet Limited (GSPL) as of the record date of May 12, 2026. The Ministry of Corporate Affairs sanctioned the scheme with an effective date of May 01, 2026.